WASHINGTON (Legal Newsline) — The Federal Trade Commission
(FTC) announced a stipulated order Nov. 30 against Jason A. Kotzker that
resolves charges that he and his co-defendants received personal information from
people who thought they were applying for payday loans online and sold it to a
scam that tapped consumers’ bank accounts and credit cards
According to the FTC, Kotzker took the information received
online and, instead of passing it along to legitimate payday lenders, sold it
to companies like Ideal Financial Solutions Inc. The financial solutions company then allegedly raided consumer accounts for $7.1 million.
The order against Kotzker bars him from selling or
disclosing personal information of consumers. Additionally, he cannot misrepresent
financial products or services. A $7.1 million judgment has been suspended upon
payment of $45,000, which represents virtually all of Kotzker's assets.
The FTC voted 3-0 to approve the proposed stipulated final
order against Kotzker. The agency entered the order in the U.S. District Court
for the District of Nevada on Nov. 3. The order comes after stipulated orders
against other defendants in the case that were entered Aug. 13. Those
defendants are Paul T. McDonnell, Theresa D. Bartholomew and her son, John E.