Wednesday, September 5, 2012

Feds Pinch Operator Of Alleged Scam That Peddled Mortgage, Consumer Debt Reduction Services On Various Felony Fraud, Money Laundering Charges

In Las Vegas, Nevada, KSNV-TV Channel 3 reports:

  • A former Las Vegas resident who operated two companies in Las Vegas during 2009 and 2010 which claimed they could help persons obtain loans and reduce their credit card, student loan, vehicle and mortgage debts, has pleaded not guilty to numerous felony fraud and money laundering charges.

    Marilyn Stewart, 39, of Philadelphia, was arraigned on Wednesday and pleaded not guilty to one count of conspiracy to commit mail and wire fraud, 15 counts of mail fraud, 12 counts of wire fraud, six counts of money laundering, and one count of making a false statement to the FBI.

    Stewart was released on a personal recognizance bond with supervision and conditions pending trial, currently scheduled for Oct. Stewart was indicted in Las Vegas on July 25 and arrested on Aug. 1 in Philadelphia. She was released on a $25,000 personal recognizance bond by a federal magistrate in Philadelphia, and the indictment remained under seal pending Stewart’s initial appearance yesterday before Magistrate Judge Hoffman.

    According to the court records, Stewart and a co-conspirator, Henry Lee Stuckey, 41, of Las Vegas, owned and operated Pureasset Investment Corporation in 2009 and Reviving American Dreams in 2010. Stewart and Stuckey allegedly told customers that the companies could assist them pay down their credit card, vehicle and mortgage debts, make loans, and reduce the principal balance on their mortgages.

    In exchange for this service, the customers were required to pay an advance fee for each debt program they participated in, and were told that they would receive a refund if the debt reduction was successful. Stewart and Stuckey also paid commissions to customers to refer other individuals to the programs.
  • Stewart and Stuckey received over $200,000 in advance fees from approximately 66 victims who lived in various states, including Nevada, and who were primarily recruited by Stuckey, sales staff and customers who were promised commissions to enroll additional customers.

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