The founder of the credit counseling firm AmeriDebt on Monday agreed to pay $35 million to settle suits filed by regulators and former customers over $172 million in allegedly hidden fees the company collected from financially strapped debtors. Andris Pukke, who made a fortune off businesses that catered to customers in debt, is also barred from working in credit counseling, debt management or telemarketing as part of the settlement.
January 11, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The founder of the credit counseling firm AmeriDebt on Monday agreed to pay $35 million to settle suits filed by regulators and former customers over $172 million in allegedly hidden fees the company collected from financially strapped debtors.
The money that Andris Pukke pays would go to a fund that will be used to reimburse the roughly 300,000 customers the Federal Trade Commission claimed AmeriDebt Inc. deceived.
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