Corporate Thugs: FTC Bans Several Companies From The Debt-Collection Business For Their Threatening Tactics

The corporate defendants are BAM Financial LLC, also doing business as West and Associates, Chelsea & Associates, and Chelsea Financial; Everton Financial LLC, also doing business as West and Associates; and Legal Financial Consulting LLC, also doing business as West and Associates Services.

The FTC said, "The order imposes a $4,802,646 judgment that will be partially suspended upon the surrender of certain assets and requires payment of $59,207 by Luis O. Carrera and $50,562 by Roberto Llaury. The full judgment will become due immediately if the defendants are found to have misrepresented their financial condition."

Related Link: Treasury Department To Hold Hearing On Corporate "Earnings Stripping"

Furthermore, the FTC said, "The order was entered by the U.S. District Court for the Central District of California on July 11, 2016."

"In October 2015, the FTC charged the BAM Financial defendants with extracting payments from consumers through intimidation, lies and other unlawful debt collection tactics. The court subsequently halted the operation and froze the defendants' assets pending litigation."