WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) has announced it will mail 1,701 checks to consumers victimized by an alleged debt collection scheme run by Kirit Patel, Broadway Global Master Inc. and In-Arabia Solutions Inc.
The checks amount to $596,000, an estimated 63 percent of total consumer losses from the scheme. Affected consumers can expect $350.39 and should deposit the checks they receive within 60 days of the mailing date.
The defendants purportedly processed payments for payday loan debts that consumers did not actually owe. In September 2015, a federal court banned these defendants from the debt collection business.
The FTC exists to promote competition, as well as to protect and educate consumers.