WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) announced Feb. 23 that Gabriel D. Stewart, the alleged leader of a debt relief scheme, has been banned from selling mortgage or debt relief services.
A $1.7 million judgment was levied upon Stewart. He will pay $105,487, and the rest of the judgment will be suspended but will become due immediately if the FTC learns Stewart has misrepresented his financial condition.
Stewart operated his alleged scheme under the fictitious names “2Apply” and “UW Solutions.” According to the FTC, Stewart told consumers he could lower their mortgage payments or prevent foreclosure and went so far as to fake being affiliated with a government agency. He also charged illegal advance fees.
The FTC voted 2-1 to approve the stipulated final order, with Commissioner Mauren K. Ohlhausen dissenting. The order was entered Feb. 21 in the U.S. District Court for the Central District of California. The FTC notes that stipulated final orders have the force of law when a district court judge approves and signs them.