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Thursday, December 12, 2019

New York continues legal action against leasing company, alleging fraud

By Mark Iandolo | Dec 13, 2017

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NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced Dec. 6 that his office will continue its lawsuit against Northern Leasing Systems Inc. after New York state Supreme Court Justice Lucy Billings determined Schneiderman’s office had adequately alleged fraud on behalf of the defendants.

Schneiderman’s office filed the lawsuit in April 2016 against Northern Leasing Systems and several of its affiliated companies, as well as principal Jay Cohen and others involved in the company’s operations. According to Schneiderman’s office, the defendants defraud consumers by deceiving them into lease agreements for overpriced credit card processing equipment that never end.

“This decision validates our efforts to take on those who deceive hard-working small business owners – and then abuse the court system to harass them with fraudulent and deceptive debt collection practices,” Schneiderman said. “We’ll continue to move our lawsuit forward to make clear that these fraudulent tactics will not be tolerated in New York.”

Scheiderman’s lawsuit named several other affiliated companies as defendants, including Leasing Finance Group LLC, MBF Leasing LLC, Lease Source-LSI LLC also known as Lease Source Inc., Golden Eagle Leasing LLC and Pushpin Holdings LLC.

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