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\nThe total settlement amount one man had to pay after bilking veterans out of their retirement and disability pay raised some eyebrows. (Mark Lennihan\/AP)<\/p>\n
\nThe total settlement amount one man had to pay after bilking veterans out of their retirement and disability pay raised some eyebrows. (Mark Lennihan\/AP)<\/p>\n
There is something deeply wrong with our judicial system (preaching to the choir no doubt) when some one swindles retirement and disability pay from vets, for SEVEN YEARS. The sentence? Consumer Financial Protection Bureau deemed an insulting fine, and told never to work in the financial arena again, sufficient. <\/p>\n
Infuriating. Remove any throwable objects from easy reach, and read on.<\/p>\n
By: J.D. Simkins
\nA man accused of issuing cash-advance loans with excessively high-interest rates to veterans while disguising the transactions as interest-free sales was ordered to pay a settlement after it was determined he \u201ccaused substantial injury\u201d by swindling veterans out of their disability and retirement pay.<\/p>\nServing as a financial agent for several lending companies from 2011 to 2018, Mark Corbett would reportedly offer to send lump sum payments to veterans \u2014 some payments were in the tens of thousands of dollars \u2014 in exchange for receiving all or part of the veteran\u2019s monthly pension or disability payments for a period of five to 10 years, according to a Jan. 23 consent order.<\/p>\n
And what did the Consumer Financial Protection Bureau deem to be a necessary settlement for these fraudulent transactions? One dollar, which he was comically ordered to pay within 10 days via wire transfer or else suffer the accrual of interest on said dollar.<\/p>\n
The minuscule sum \u201caccounts for Corbett\u2019s inability to pay more based on sworn financial statements that he provided<\/strong> to the Bureau and Corbett\u2019s ongoing cooperation with the Bureau\u2019s investigation,\u201d the order said.<\/p>\n
Bilk veterans out of disability and retirement pay for seven years? Your settlement, sir, is a McChicken sandwich.<\/p>\n
~~~~~~~<\/p>\n
The names of Corbett\u2019s employers were withheld from the report.<\/p><\/blockquote>\n
The rest of this travesty may be viewed here: Military Times<\/a> <\/p>\n
Tip of the hat to Another Pat for the link. Now I have to read the other four articles she sent. Thanks, AP, keep ’em coming.<\/p>\n","protected":false},"excerpt":{"rendered":"