Jeremy Lee Marcus and His Accomplices Allegedly Orchestrated a Massive Debt Relief Scam That Victimized About 15,000 Consumers

Jeremy Lee Marcus. Source: Twitter

Jeremy Lee Marcus, Craig Davis Smith, and Yisbet Segrea, and entities they controlled, from at least late 2013, allegedly orchestrated a massive debt relief scam that purported to offer consumers phony debt relief services, including fake loans, according to Complaint filed in the U.S. District Court Southern District of Florida by the Federal Trade Commission (FTC) and the State of Florida which is currently under review by consumer rights attorneys Alan Rosca and Paul Scarlato of the Goldman Scarlato & Penny law firm (“GSP Law Firm”).

The allegedly fraudulent debt relief entities controlled by Marcus include 321 Loans, Financial Freedom National, Helping America Group, Instahelp America, Breeze Financial Solutions, according to the court papers in the FTC’s case.

Consumer rights attorneys Alan Rosca and Paul Scarlato are investigating Jeremy Lee Marcus’ scheme and preparing to take action and seek compensation for victimized consumers.

Consumers who believe they lost money in one of Jeremy Marcus’ allegedly fraudulent debt relief services are encouraged to contact attorneys Alan Rosca or Paul Scarlato with any useful information or for a free, no obligation discussion about their loss recovery options. Goldman Scarlato & Penny PC is preparing to take action and would like to talk to potential victims. Our goal is to supplement whatever recovery will be available through the receivership proceedings.

Jeremy Lee Marcus and his accomplices allegedly orchestrated the scheme via a maze of eleven interrelated companies. They allegedly profited off struggling consumers by either making phony promises of large debt consolidation loans at favorable rates, or through false representations that they had taken over the servicing of consumers’ pre-existing debt relief accounts, according to the aforementioned Complaint.

Either way, the FTC notes, Marcus and his accomplices tricked consumers into paying them hundreds or thousands of dollars a month under the false pretense that said Defendants would pay, settle, or obtain dismissals of consumers’ debts and improve consumers’ credit.

In sum, about 15,000 people across the country were affected by the so-called debt-relief scheme which purportedly involved three telemarketing executives headquartered in Pompano Beach, and reportedly used a branch in Panama to allegedly swindle victims out of an estimated $85 million, according to the Florida Attorney General’s Office and the FTC.

Marcus and His Accomplices Allegedly Did Not Pay or Settle Consumers’ Debts, but Instead Allowed Debt to Remain Unpaid & Client Accounts to Fall into Default

Jeremy Marcus and his supposed debt relief companies, however, contrary to their claims, allegedly did not pay, settle, or obtain dismissals of consumers’ debts, nor did they improve consumers’ credit, according to the Complaint filed by the FTC and the State of Florida.

Marcus and his businesses instead allegedly converted consumers’ money to their own use by making payments only to themselves, and gradually consumers purportedly found out that their debts had gone unpaid, that their accounts are were default, and their credit scores had taken a plunge, the Complaint states.

Many consumers as a result were eventually sued by their creditors, and some have been  forced to file bankruptcy, the Complaint notes.

While consumers suffered, the defendants raked in millions, the Complaint reports. In sum, Marcus and his accomplices and companies since at least mid-2014 allegedly generated tens of millions of dollars from their purported debt relief scam.

The Complaint further alleges that several Corporate Defendants allegedly take turns reporting quarterly payroll for many of the approximately150 employees that work for said Defendants, whilst others allegedly hold themselves out to the public as providers of promised services, yet do not report any employees, the Complaint states.

Amongst the Defendants, Jeremy Lee Marcus is described as the reported CEO and an owner of the group of companies in the debt relief operation, and Craig Davis Smith as the COO and also an owner, the Complaint notes.

Yisbet Segrea has been reported as an executive who ran the office in Panama, plus dozens of corporate defendants controlled by the individual defendants, the Complaint states. These included 321Loans Inc., Financial Freedom National Inc., Helping America Group, Marine Career Institute Sea Frontiers Inc., Instahelp America Inc. and Breeze Financial Solutions, the Complaint reports.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.

What Victimized Consumers Should Do

If you suffered losses because of Marcus’ debt relief scheme, you should contact the Goldman Scarlato & Penny lawyers, Alan Rosca or Paul Scarlato, for a free, no-obligation evaluation of your loss recovery options.

The Goldman Scarlato & Penny PC law firm represents consumers who lose money as a result of fraud or misconduct and are currently investigating Jeremy Lee Marcus, Craig Davis Smith, Yisbet Segrea, and their businesses’ alleged phony debt relief services scheme. The firm takes most cases of this type on a contingency fee basis, and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients.

Consumers who believe they lost money as a result of Jeremy Lee Marcus, Craig Davis Smith, and Yisbet Segrea’s alleged phony debt relief services scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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