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Victims of student loan relief scam to receive refunds

The Federal Trade Commission reports it is sending more than $1.7 million to individuals who lost money to a debt relief scheme that targeted individuals trying to pay down their student loan debt. The Commission's complaint alleged that the operators behind Student Debt Relief Group tricked people into thinking the company was affiliated with the Department of Education, charged consumers illegal upfront fees, and collected monthly fees they falsely claimed would be credited toward consumers’ student loans. In reality, the operators of the scheme pocketed people’s money and responded to consumer complaints by changing the name of their company rather than their business practices.

Under the final settlement, the defendants, individual Salar Tahour and his companies—Los Angeles-based M&T Financial Group and American Counseling Center Corp., doing business as Student Debt Relief Group, SDRG, Student Loan Relief Counselors, SLRC, StuDebt, and Capital Advocates Group—are banned from engaging in any future debt relief activities and from making misrepresentations or unsubstantiated claims related to financial or any other products or services.

The FTC is sending 867 checks and 18,559 PayPal refunds, averaging about $88 each.

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