The Unicredit scam

JTsyo

Lifer
Nov 18, 2007
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State prosecutors accused debt collectors in Erie of posing as sheriff's deputies and conducting bogus court hearings to shake down debtors.

In a lawsuit filed Friday in Erie, the Attorney General's Office accused Unicredit America Inc. of Erie of using "deceptive tactics to mislead, confuse or coerce consumers," including holding hearings in a mock courtroom.

Michael Covatto, president of Unicredit, did not return a phone call.

"This is an unconscionable attempt to use fake court proceedings to deceive, mislead or frighten consumers into making payments or surrendering valuables to Unicredit without following lawful procedures for debt collection," said Attorney General Tom Corbett in a statement.

The lawsuit seeks civil damages of $3,000 for each time the company deceived debtors age 60 or older, and $1,000 for all other victims, for violations of consumer protection and unfair trade practice laws. It asks that Unicredit make restitution to the debtors.

It was not clear how many debtors were deceived. The state is "still working to determine the full size and scope of this scheme," including possible criminal charges, said spokesman Nils Hagen-Frederiksen. Unicredit has acted as a debt collector since June 2009.

Unicredit allegedly sometimes used people disguised as sheriff's deputies to hand-deliver "hearing notices" to debtors, said the lawsuit. That gave the impression that recipients could be taken into custody if they didn't appear in the phony court for the fake hearings and depositions.

The fictitious courtroom proceedings often intimidated debtors into signing payment agreements or making immediate payments and also providing access to bank accounts or surrendering vehicles and other assets, the lawsuit claims.

Unicredit engaged a lawyer near its office to help in the bogus collection process, according to the lawsuit. Attorney Lawrence D'Ambrosio allegedly prepared legal letters and "subpoenas" for Unicredit to use in the scheme.

D'Ambrosio, who was not sued in this case, could not be reached.

"The exact role and potential liability for any individuals is something that will be determined as the case moves forward," said Hagen-Frederiksen.

The attorney general has petitioned the Erie County court for a preliminary injunction to freeze all of Unicredit's assets, and prohibit the firm from collecting debts and holding bogus hearings and depositions. The court is expected to hold a hearing Tuesday, Hagen-Frederiksen said.

Just nuts. I can't believe that they will just be fined. Isn't impersonating a police officer a pretty serious crime? How much more for impersonating a judge.
 

dfuze

Lifer
Feb 15, 2006
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I thought posing as a state/federal official was a criminal offense that would get you prison time too. Also sounds like that laywer should be immediately disbarred.
 

Lemon law

Lifer
Nov 6, 2005
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This is a clear violation of the FCRA, that prescribes that same $1000 per occurance fine.
The problem is many sleezy debt collectors ignore it because suing to collect the automatic fine is difficult. The more modern FDCPA proscibes the same fine, but it does not matter if the collector violates once or many times. Violate once and the rest of the violations are on the house.

So its very good, IMHO, for the States Attorney generals office to do the heavy lifting for the victims. But I too agree the attorney party to this scheme should be disbarred.

Sadly debt collection agencies have so many other ways to be sleezy, so know your rights. Especially the class called junk debt buyers who know nothing about the alleged and often imaginary debts they try to collect.
 

Amused

Elite Member
Apr 14, 2001
55,825
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We need more deregulaton!!


Wait, what?

Um, they already broke the law. How many more laws are needed to keep them from breaking the already existing laws?

In other words, your post is absurd.

As for the OP, every one of these people involved belongs in jail.
 

Moonbeam

Elite Member
Nov 24, 1999
72,326
6,038
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These bastards owe money. They scammed the folk who lent so why shouldn't they be scammed back?

Any of you bleading hearts think of that?

How about we outlaw lending money of any kind. That will fix this real good like, no?
 

techs

Lifer
Sep 26, 2000
28,561
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We need more deregulaton!!


Wait, what?

Um, they already broke the law. How many more laws are needed to keep them from breaking the already existing laws?

In other words, your post is absurd.

As for the OP, every one of these people involved belongs in jail.

Ah, but if the Republicans deregulate lending laws, then what the creditors did would be legal.

And then not only would be have more "efficient" lending we would have cut down on crime.

Wait, what?
 

PeshakJang

Platinum Member
Mar 17, 2010
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Ah, but the Republicans aren't campaigning on deregulating those laws.

I don't recall them campaigning on making it legal to impersonate police and judges.

The Democrats are campaigning on forcing children to smoke pot though. Fact.
 

PokerGuy

Lifer
Jul 2, 2005
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This deserves serious jail time, not just some namby pamby fine. These guys need to have husbands.....
 

Amused

Elite Member
Apr 14, 2001
55,825
13,865
146
Ah, but if the Republicans deregulate lending laws, then what the creditors did would be legal.

And then not only would be have more "efficient" lending we would have cut down on crime.

Wait, what?

Please link to proof that any politician from any party has sought to make it legal for collection companies to pose as government officials.

Oh wait, you can't.

You should have just stuck with "wait, what?" because that's all you've got.
 

Darwin333

Lifer
Dec 11, 2006
19,946
2,328
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I thought posing as a state/federal official was a criminal offense that would get you prison time too. Also sounds like that laywer should be immediately disbarred.

I thought perjury via sworn affidavits was a criminal offense too but evidently I was wrong. Also thought fraud was already against the law, wrong on that one too.
 

Lemon law

Lifer
Nov 6, 2005
20,984
3
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These bastards owe money. They scammed the folk who lent so why shouldn't they be scammed back?

Any of you bleading hearts think of that?

How about we outlaw lending money of any kind. That will fix this real good like, no?
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Moonie you done pissed me off with a totally false assumption. Many times the poor smucks do not owe any money but that does not prevent unethical collectors from damaging people. Our credit rating are very important and can determine insurance rates, employment opportunities, so we would like to think they are accurate. Many times they are not and consumers have few if any rights.

About five years back, one of the most dubious and unethical debt collection agencies in the USA tried to make a run at me. The dubious and unethical of Asset acceptance LLC is not only my opinion, its a universal consensus opinion. But Asset acceptace LLC tried to collect a non-existant debt from me, they really pissed me off, and I made sure I got my vengence. Not only did I not pay them a cent, I forced them to admit in writing to my State AG that they had no idea what they were talking about. Had I not done so. they would have simply resold the paper to another junk debt buyer, and I would be continually be dealing with other collectors. So my job one was to force them to eat the paper, and it cost asset acceptance at least $200 in their own attorney time to do so.

It did not take much time to learn the habits of highly unethical debt collector, and this link explained it to me.

http://debt-consolidation-credit-repair-service.com/forums/

That is not to say that there are not ethical debt collectors, but what the OP on this forum describes is certainly much lower than Asset Acceptance LLC.
 

Darwin333

Lifer
Dec 11, 2006
19,946
2,328
126
Ah, but if the Republicans deregulate lending laws, then what the creditors did would be legal.

And then not only would be have more "efficient" lending we would have cut down on crime.

Wait, what?

Exactly how many people have been indicted for blatant and provable fraud to the tune of trillions since Obama came into office? Oh, instead of handcuffs they got to keep the proceeds from their fraudulent and illegal actions?

Wait, what?
 

techs

Lifer
Sep 26, 2000
28,561
4
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The Democrats are campaigning on forcing children to smoke pot though. Fact .

Please link to proof that any politician from any party has sought to make it legal for collection companies to pose as government officials.

Oh wait, you can't.

You should have just stuck with "wait, what?" because that's all you've got.

The Democrats are campaigning on forcing children to smoke pot though. Fact
I don't know what's worse. If you actually believe that crap, or you believe other people will believe it.

Oh, and you think the Republicans won't override Obama's veto and let lenders use out of state notarized documents to carry out their illegal foreclosures, well you probably think the banks are your friends and should be deregulated. Just like they were under Reagan and Bush
 

Amused

Elite Member
Apr 14, 2001
55,825
13,865
146
The Democrats are campaigning on forcing children to smoke pot though. Fact
I don't know what's worse. If you actually believe that crap, or you believe other people will believe it.

Oh, and you think the Republicans won't override Obama's veto and let lenders use out of state notarized documents to carry out their illegal foreclosures, well you probably think the banks are your friends and should be deregulated. Just like they were under Reagan and Bush

I know it's difficult being immature and ignorant, but please try and stay on topic, okay?

You claimed the rightwing would allow the crimes listed in the OP through deregulation.

You're not only wrong, you're trolling. And you're not only trolling, but you can't even see someone's sarcasm for what it is.

Why do you even have a political opinion? Seriously? Time and time again you display complete ignorance of the issues. In fact, I've never seen you post a thought of your own. You merely bleat out leftist talking points without even giving them an ounce of critical thought.