The Federal Trade Commission announced yesterday that it is mailing 1,701 checks totaling more than $596,000 to consumers who lost money to a fraudulent debt collection scheme that processed payments for payday loan debts they did not owe.
In September 2015, a federal court banned Kirit Patel, Broadway Global Master Inc. and In-Arabia Solutions Inc. from the debt collection business.
Affected consumers will receive checks in the average amount of $350.39. Approximately 63 percent of consumers’ total loss is being returned.
Consumers who receive checks and have questions can contact the FTC’s refund administrator, Analytics, at 844-449-3587. Learn more about the FTC’s refund program.