Mark Iandolo Feb. 19, 2016, 8:32pm


WASHINGTON (Legal Newsline) – The Federal Trade Commission announced that it will mail checks to consumers who were victims of a scam that allegedly promised help in getting payday loans.

A federal court halted an operation in 2014 run by Sean C. Mulrooney, Odafe Stephen Ogaga, Vantage Funding, Ideal Advance, Loan Assistance Co., Palm Loan Advances, Loan Tree Advances, Pacific Advances and Your Loan Funding. This operation allegedly promised to help consumers receive loans, then debited their bank accounts instead, in increments of $30, without authorization.

Each affected consumer will receive a check for $30 and should deposit them within 60 days of the mailing date, the FTC states. The FTC notes that it does not require consumers to pay money or provide information before cashing refund checks.

The FTC works to promote competition and protect and educate consumers.

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U.S. Federal Trade Commission
600 Pennsylvania Ave NW
Washington, DC 20580

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