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Mass. AG announces $240,000 order against financial company

By Bryan Cohen | Nov 20, 2013

BOSTON (Legal Newsline) - Massachusetts Attorney General Martha Coakley announced a court order Tuesday against a Lawrence financial company and its owner for allegedly violating court orders and continuing to solicit consumers for loan modification services.

Suffolk Superior Court Judge Elizabeth Fahey found Pinnacle Financial Consulting LLC and Robert Burton, the company's owner, in contempt of court for failing to follow the terms of several injunction orders obtained by Coakley's office following a lawsuit in March. Under the terms of the judgment, Pinnacle and Burton must pay more than $240,000, including close to $30,400 in restitution, more than $39,800 in fees and costs and $170,000 in penalties.

Coakley's lawsuit alleged that Pinnacle and Burton targeted minority and non-native English speakers desperate to save their homes during the foreclosure crisis.

"These defendants, despite a court order, continued to solicit consumers with their deceptive foreclosure relief practices and illegal upfront fees," Coakley said. "Consumers need to be aware of these scams that attempt to take advantage of struggling homeowners."

In March, Coakley's office obtained a temporary restraining order that prohibited Pinnacle and Burton from concealing, dissipating or destroying records. Coakley's office then obtained preliminary injunctions barring the defendants from providing, soliciting or advertising any loan modification and related services and requiring the deposit of more than $97,000 of restitution and penalties into an escrow account. The deposit remains unpaid.

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