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Two companies accused of defrauding veterans in a predatory lending scheme are being sued by Minnesota for swindling disabled veterans of benefits.

Attorney General Lori Swanson announced the state filed a lawsuit accusing the companies of targeting vulnerable veterans and seniors, charging them up to 200 percent interest. The firms also swindled veterans of their VA benefits in exchange for small loan amounts.

Attorney Swanson said the companies, Future Income Payments, LLC of Delaware and FIP, LLC of Nevada, were pressuring veterans to sign over their benefits, which is generally considered unlawful in any form. The VA benefits were likely pension benefits and disability compensation benefits.

It is important to note these benefits cannot generally be assigned in the manner they were as part of this scheme, and such agreements are likely unenforceable so long as the judge knows about the federal statutes precluding assignment of these federal benefits.

“These companies had veterans and seniors sign over significant portions of their monthly pensions and benefits for years to come in exchange for much smaller immediate cash payments to cover basic living costs, medical bills, and household emergencies,” said Swanson in a released statement. “A pension is supposed to provide financial security, and people should be very cautious about giving away their future pension benefits to get just pennies on the dollar in immediate cash. Borrowers’ finances can become even tighter down the road if they relinquish their future monthly pension payments.”

The companies tried to bend the law by calling the loans “purchase agreements” instead of loans. Nonetheless, the companies allegedly violated state lending laws by not seeking required state licenses for lending.

Companies Defrauding Veterans Like These

According to KARE 11 News, Attorney Swanson provided the following examples to illustrate the nature of the despicable fraud at the center of the lawsuit:

  • A 73-year-old disabled Vietnam veteran whose wife has stage four lung cancer borrowed $1,800 to take care of medical and other bills and was required to repay $14,400—eight times what he borrowed. He must pay the company $300 from his monthly VA benefits for four years, for a 199.9% APR.
  • A 72-year-old military widow borrowed $2,100 for emergency surgery for her dog and was required to repay $21,000—ten times what she borrowed.  She must pay the company $350 monthly deductions from her late husband’s monthly VA benefits for five years, for a 200% APR.
  • A 63-year-old with psoriatic arthritis borrowed $4,000 to pay off other bills and was required to repay $24,600—six times what she borrowed—through $410 monthly deductions from her pension for five years, for an APR of 122.6%.

You hear about schemes like this all the time, and it is criminal to defraud veterans of their benefits much less to trick them into signing the benefits over.

That is a totally illegal business model, and any veteran caught in that kind of scheme should know the loan agreement is likely unenforceable. If you are a victim of this kind of swindle, be sure to contact an attorney and your state Attorney General immediately.

If the loans are unenforceable, you will not need to pay it back.

Source: http://www.kare11.com/money/companies-sued-over-veteran-senior-pension-loans/464816383

Wyldechylde

Name and shame to include owner and address then put them in the ground. No court room, no spending tax payer dollars dragging this out. Just a lone wolf crazy veteran rolling up to their door and capping their ass. Problem solved.

ANutterVet

Cost effective.

Wyldechylde

Their LLC’s so likely the setup is run through an attorney. I’d love to find that guy and make him tell me who his client is…

ted

i second that

Flotmorton P Gildersleeve
Flotmorton P Gildersleeve

The principals of this outfit have committed federal crimes similar to those for which the Mafia was prosecuted
It is called “Racketeering” and they should be “replaced” by adventurous veterans, former military bad boys;
If they are Mafia, then wipe out the whole gang; Time for action

Wyldechylde

FIP, LLC
Our Mailing Address:
2505 Anthem Village Drive, #E-578
Henderson, NV 89052

Contact Us By Phone:
If you are a new or existing customer that would like a cash advance on their pension, please call one of our pension specialists at 877-871-1991.

Wyldechylde

Future Income Payments’ chief executive, Scott Kohn

Wyldechylde

Think this might be the guy “https://www.linkedin.com/in/scott-kohn-2a8a76a”

OLDMARINE
Wyldechylde….I think you got the right TURD/ flim flam man. Most recently, Mr. Kohn has been involved in the building of enterprises in the Structured Cash Flow business that include Business Process Outsourcing and internet marketing – he has made a healthy 8 figure investment in this market to better serve his customers. He is also pioneering exciting new options for Rideshare, and developing new business models to directly assist individuals with credit challenges. GOOD CREDIT BAD CREDIT WE HAVE… Read more »
ANutterVet

Delaware is recognized along with Nevada in setting up these upfront ghost LLC’s. I thought a while ago when my wife and I watched a documentary on this type of set-up for priming a scam. Don’t like those who take advantage of anyone that is disabled and trying to make ends meet. I’m glad they got these pukes. Good night. May be. – – – Nutter.

namnibor
“[Future Income Payments’ chief executive, Scott Kohn]” — should be sentenced to receive VA Deathcare and make him and all his staff scammers be on the receiving end of “sloppy seconds” of VA Colonoscopies…make sure they have their VA colonoscopies late in the day when it’s guaranteed the VA hacks have left all the gunk and crap on equipment from previous Veterans…all for Future Income Payment’s, Scott Kohn’s future medical woes pleasure principle. Then, do as the VA and wait… Read more »
namnibor
Also, if there’s 500 Veterans in Minnesota alone affected by Future Income Payments SCAM…you can easily and logically multiply that by 50 States for starters to get an estimated veteran population affected, which comes to: 50 States x 500 Vets in each State= 25,000 AFFECTED VETERANS IN USA 50 STATES. I wonder which VA Execs or VSO’s have shared $$$$$ interest in such companies as Future Income Payments…you know, just like all those predatory colleges attempting to get Veteran educational… Read more »
Seymore Klearly

It sounds like an American Legion or AMVETs type scam.

namnibor

@Seymore Klearly- The difference is, the VSO’s call their stealing dues and lifetime membershits, err-r, memberships on good shit lollypop V.A. Titanic.

Welcome Aboard the V.A. Titanic!! Visit our gift shop and buy a hat and become one of us sucking the teats of the Good Shit Lollypop V.A. Tit-anic.

ANutterVet

Teatanic?

Seymore Klearly
Hey Namnibor, Does the current Veterans suicide rate include Veterans who died due to their trusting VA Health Care? It truly is inconceivable for me to believe that 526 Veterans actually allowed a VA Doctor to perform a colonoscopy on them. I mean really how does someone trust a VA employee who has spent a good part of their lives, and most of their professional careers studying assholes. Not only trust them but to allow them to shove a camera… Read more »
ANutterVet
The colonoscopy equipment that are in use in many VA Medical Centers, are the type that’s hard to sterilize while autoclaving lab and medical equipment. It must be that somewhere on the colonoscopy equipment itself, that there is a section that is compacted together somehow, or a spot where the bacteria can sort of hide, and therefore the bacteria is protected against the autoclaving procedure. Then after autoclaving, the equipment is used to enter the poop shoot, take pictures, and… Read more »
namnibor
@ANutterVet- The VA simply fails time after time on this very autoclave sterilization and guess what is found each time by OIG? That the VA Employees failed to properly follow instructions of procedures from manufacturer of equipment. When the letters went out en mass from when this happened @ Dayton VAMC, the VA came back and blamed the manufacturer of the same exact equipment for not having CLEAR ENOUGH instructions of sterilization procedures. I kid you not. Something is sterile… Read more »
Flotmorton P Gildersleeve
Flotmorton P Gildersleeve
Amen, brother and they deserve more, more, this guy, Kohn needs to be disappeared, something that really scares him and his buddies before they lose consciousness. The FBI no longer does its job, these pukes need to answer to some of us “other” vets who can “reason” with them and make them offers they can’t refuse. I bet Gary Kohn would donate all of his riches to a veteran’s org if “aproached” in the right way, hey? these guys must… Read more »
namnibor

Benjamin- Nice “Bad VA Art” photo today, showing a VSO piggy standing behind being oh-so-helpful with his funny hats and uniforms rivaling only those of ‘Steak-n-Shake’ employees…(Steak-n-Shake have better hats and dare say would be more helpful to Vets plus…there’s ice cream, as opposed to I SCREAM because of the VA)

OLDMARINE

I don’t know why people get a loan for med. bills, I pay my so called 20% medicare doesn’t pay [sometimes LOL] when they inflate the charge I don’t pay shit, screw them crooks…I pay what I want to pay..LOL

I was delirious yesterday of lack of sleep if anyone was wondering…

VAISLYING INC

THIS IS CHUMP CAHANGE TO VA DC HQ FEDERAL RICO SCAMS VA BUDGET FOR 2018 186 BILLION $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ THE VA DC HQ RATS ARE DOGS IN HEAT FOR THIS $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

cj

-!ii!-

namnibor

Liberals Gone Wild:

“[The Army has turned down a request to rename streets at Brooklyn’s Fort Hamilton that honor two Confederate generals.

Rep. Yvette Clarke and three other New York lawmakers had demanded that the Army change the names of Stonewall Jackson Drive and General Lee Avenue.]”

“http://nypost.com/2017/08/07/army-declines-request-to-change-brooklyn-streets-named-after-confederate-generals/”

namnibor

Notice the differing words of “request” and “demanded”? They are quite different linguistically and tense.

ANutterVet
These fucking people don’t want to address the real problems, that in actuality hurting people; reforming the VA (better services, recovering monies), jobs, trade agreements, National Health Care (weird how our Politicians never mention in PR that the evaluated European Countries on how they implemented health care), etc. In France, when you go to the ER, and if you have no way of getting home, they will get a Taxi for you. They have a lot more bennies that are… Read more »
F
Actually whether it matters or not. The confederacy is considered an enemy combatant to the United States military. So when they find their ships that’s what they call it and put them into a museum. Article above suggestion any scammer going after VA anything and if they use a lawyer and don’t do what you want it’s fun to beat them up. Federal all the way in this case they got to use attorney general state law. Guarantee politician directed… Read more »
Wyldechylde

So I called up FIP LLC, interesting that their still in business, and asked the person who picked up the phone if they where still in the business of scamming vets out of their money. He asked me if I would like to speak to a manager. I replied that actually I’d like to speak to Scott Kohn. The person then put me on hold. Perhaps we should start a phone campaign against this company…

lily

Any disabled veteran 50% should be able to discharge their student loans. What’s the point of the government giving them money that they have to hand right back?

namnibor
@lily– As is stands, *if* you can acquire a Service Connection Rating of 100% P&T or at that via Individual Unemployability (TDIU), you can then and only then request the VA to do paperwork to have your Dept. of Ed. Student Loans Discharged. I went through that and it took the VA almost 6 months to do what they needed to do, I also needed to have the VA send me letters stating I was indeed 100% P&T Service Connected,… Read more »
James Gallegos
When I was discharged, I did not know that I had a traumatic brain injury. I attended college and could not do the work and had to drop out and the VA came after me and I had to pay them back. Due to the va denying my claim, I was r refused treatment and only 40 year’s later did I get treatment and discovered I had a traumatic brain injury. I know it way to late, but how many… Read more »
Windguy
Tip O the cap to Lori Swanson MN AG for bird-doggin these assholes. She’s one of those functional Democrats. Class act all the way. And, when I knew her, hot. Steaming hot. She has a history of going after cheats and swindlers. I wasn’t too keen on her suit against Trump’s immigration ban. But, like everything else Trump has done – he, and his ban was not legally prepared. Did I mention she was hot?
Wyldechylde

several times, we get it, she’s hot. 😉

I prefer not to look at things through party colored glasses, you did hit the nail on the head when you said functional. There are functional politicians in each party. These are the people we need in positions of authority. Not these useless corrupt assholes slurping their way down the trough line while cramming fistfuls of dollar bills in their pockets.

ANutterVet
Just wondering. Those of you with a long term disability due to a injury, PTSD, and that your laid up more than you were in the past. Below is a short take on my behavior during the beginning of the day, until mid-afternoon. And, this happens a lot. Need no judgement call here, but only want to know if anyone else goes through something like this. Oh, and the VA, well lets just say, the time is just around the… Read more »
namnibor
All but the sleep and poop issue. I cannot sleep for very long either, and when I do nightmares and terrors wake me if I’m lucky. So I typically will try to not go to sleep until after midnight or so because it’s another double whammy in that the medication side effects cause sleeplessness, which leads to even more anxiety which leads me to the No.2 issue at-hand, literally: I unfortunately have the polar opposite with both medication side-effects, my… Read more »
ANutterVet
@Namnibor – – – Nam, the above happens to me a lot. Even more troublesome, that ever since the VA clusterfucked me in many aspects of my life, my symptoms have potentiated tremendously. Do date (past few months), the Police have been called. And, I really don’t give a fuck about the Disruptive Behavior Committee, the EPERS list, the Veterans Court, VA Federal Police (I’ve been escorted out of the VA 3 times), and I don’t fear our local Police.… Read more »
namnibor

@ANuttervet — “[…Oh, when those aliens stop by to see me. We first meet and great (there quite friendly), then have ice cream, and before they go, I bust out my colored crayons, and then we draw rainbows on white construction paper to withstand long and fast travels. – – – The Nutter that I am.]”

Oh…you get the crayons and I get the probings! 🙂

OLDMARINE

namnibor…Sounds like a great time,..Do they ever let u drive…LOL

ANutterVet

@Namnibor – – – You and Ole are funny. Hey Nam, I forgot to mention, the next time they visit you, be careful, they’re out of lube. LMAO Big Time. – – – Nutter

Jo3n
@@SeymoreKlearly, About calling those 526 deaths due to bad Dr.’s, yes, suicide is a possibility. Murder or wrongful death is more accurate. I agree that being the slimy VA is unaccountable, suicide will work. Sadly enough, I believe the VA is responsible for many Veterans deaths. They keep coming up with new ways of killing veterans. These LLC’s are open invitations for anyone with money to do whatever they want. With no responsibility. Going back to the VA Dr. and… Read more »
F
They don’t have to be insured and they had many sickos take advantage of that. Now eyes are on them and new policies in hiring. Damn I could never figure out how they had so many sickos in one place. Of course some still there, but they have gotten rid of a lot even b4 new accountability law. Absolutely outrageous and scummie to no end. They had major investigations before they just didn’t get exposure it was too twisted. One… Read more »
NiteWish
How they get you to take a colonoscopy is to nag, nag & nag until you throw up your hands & say ok just stop nagging me. The new tactics my PC just tried on me was, Well you only have to do it once & then not again until your 70. If you have a family history you Must have this test. They won’t take NO Thank You for an answer without a fight. You can ask for the… Read more »
OLDMARINE
NiteWish..I got a liver biopsy at the VA they never gave me anything, did you ever see the needle they use,… It’s a big one LOL…he had a hard time and stabbed me 4 time’s even once in my lung..never again from them, that’s third world medicine…. and they can stick there asshole probe up there own ass…LOL The worst part is when i looked at the doctor and told him u did my colonoscopy he said I’m one of… Read more »
NiteWish
OldMarine, its my understanding that all biopsy’s are painful & to be jabbed 4x without any meds is unacceptable. Hurt like hell when the surgeon pulled out the chest tube because the ‘trainee’ put the stitch so tight & I even asked him If he’d done this before & I ask him if he was training on me. He assured me he’d done it many times. Thankfully I knew enough to be asked to be put out before the insertion.… Read more »
F

Peek a boo up yo shoo. They caught one dr not giving anatisthesa. Patients screaming gave small amount to relax they said but wore off. Hmmmn maybe the entire staff was getting high on drugs to be used on patient. Sickasses.

Dennis
Ben asks the question how many other swindlers are out there? Well, these guys used the term “purchase agreement” to hide their con so….. Google, tell me about Department Of Veterans Affairs and purchase agreements. Google returns a page by a company bragging about….wait for it….. Making a REALLY BIG purchase agreement with VA! It is so big they call it a “blanket” purchase agreement because it covers at least something up, right? “But Dennis,” you may be thinking, “how… Read more »
NiteWish

Dennis, did you see all the training videos on youtube for blanket purchases agreements. hahahaha
“https://www.youtube.com/watch?v=ts5GY0V1TfQ&index=1&list=PLE76BA06EBC72C1CF”

ANutterVet

@Dennis – – – If its an excepted ripoff service that VA accepts, then can’t all 1-23 VISN’s be affected by their offers and services? Then shouldn’t we all be aware of these damn schemes and scams? Who do you trust, no one but my dog. But then, when I turn my head, he takes me burger. And then hides. Like people. – – – Nutter.

namnibor

Since we are Veterans, wouldn’t it be appropriate to make it a felony to scam or rip-off a Veteran in USA? Place it in same category as war profiteering.

ANutterVet

At least making some sort of classification. Aren’t there others?

namnibor
Am thinking there would be something about abusing or taking advantage of the disabled would come into play as a classification ‘flavor’. As it remains, we Veterans seem to be low-hanging fruit for all varieties and flavors of scams and fraud, a ticket to the never-ending-VA-gobstopper-cookie-jar. Does your company or experimental chemical company need non-classifiable non-human test subject? Well, step right-up, and Beetlejuice will provide you with any flavor of non-human test subject you desire, for a price of course… Read more »
cj

@namnibor: Your on target, remember all the predators waiting for your money on payday, around every military post? Also, this character has a LinkedIn profile, he does look like a friggin mobster.

Don Karg
08/17/2017 Dear Benjamin Krause, Everything is so “peachy” at the Phoenix VA—Why everything appears to be working fine!—see my post on 08/16/2017. And we see Wells Fargo, Future Income Payments, LLC of Delaware, and FIP, LLC of Nevada—pad their offshore accounts—-where did the money go???? And here comes namnibor to remind us of the recent years the VA wants to down play. Good work namnibor!!! namnibor August 17, 2017 at 5:54 am “[Future Income Payments’ chief executive, Scott Kohn]” —… Read more »
Seymore Klearly
Notice how “Future Income Payments (FIP) LLC” the company in the following article was a California Based company in January, 2017. That is when they were barred from the state of Iowa and had to pay a fine of $35,000. “California-Based Pension Advance Company Banned in Iowa” Manchester 24/7, Posted 9 January, 2017 “http://www.manchester247.com/manchester-iowa-news-story-2017-01-09-1.html” A California-based company that charged up to 200 percent interest for cash advances on largely military pensions will cease offering Iowans what Attorney General Tom Miller… Read more »
ANutterVet
If this type of illegal behavior of trying to strip Veterans of their Pension monies, all for a small amount of loan, due to knowing that these monies of Veterans shouldn’t be touched in the first place, I wonder how often this occurs, how much monies are involved, and how these illegal actions have hurt or made the Veteran, Spouse, Love One, or Care Taker in more distress? Do you think that the loop hole of these types of Corporations… Read more »
ANutterVet
Plus, before the Authorities zoom in, they need to be captured by the White Nights, taken down a dark back road, tie em up, and given a dirty licking. At least, leave something permanent to be used as an example. Doesn’t our Judicial System do something of this nature? Damn ass wipes. ? Its frigging upsetting when Veterans not only get screwed over by the VA itself, but now even some public business owners are scamming on those Veterans in… Read more »
ANutterVet
I get super pissed off when those with disabilities and those that are disadvantaged get ripped off. And, when I hear and read valid stories about how the VA is shafting us Veterans, well, I try not to getting locked up the Po Po, and then be put into custody. I don’t want to smear my record, and that I still can possibly get a good (S)ecurity (K)learance (@Seymore, same abbreviation). One of my biggest challenges with all the relating… Read more »
Seymore Klearly
Future Income Payments California. “Column ‘Pension advance’ company is unmasked — and it’s no friend of California consumers ” David LazarusContact Reporter March 14, 2017 “http://www.latimes.com/business/lazarus/la-fi-lazarus-cfpb-future-income-payments-20170317-story.html” Also from California “http://www.dbo.ca.gov/ENF/pdf/2015/Pensions%20Annuities%20and%20Settlements%20LLC%20dr.pdf” DESIST AND REFRAIN ORDER The California Commissioner of Business Oversight (“Commissioner”) finds that: 1. At all relevant times, Pensions, Annuities and Settlements, LLC (“PAS”) was a Delaware limited liability company. 2. In or about 2014, PAS changed its name to Future Income Payments, LLC (“FIP”). 3. At all relevant times,… Read more »
Seymore Klearly

STATE OF WASHINGTON

STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS DIVISION OF CONSUMER SERVICES

IN THE MATTER OF DETERMINING
Whether there has been a violation of the
Consumer Loan Act of Washington by:
PENSIONS, ANNUITIES AND SETTLEMENTS, LLC, alk/a FUTURE INCOME PAYMENTS, LLC, and SCOTT KOHN, Owner and CEO/President

No. C-14-1449-15-SC02 AMENDED STATEMENT OF CHARGES and NOTICE OF INTENTION TO ENTER AN ORDER TO CEASE AND DESIST, PROHIBIT FROM INDUSTRY, IMPOSE FINE, AND REFUND FEES AND ITEREST

“http://www.dfi.wa.gov/sites/default/files/consumer-services/enforcement-actions/C-14-1449.pdf”

ANutterVet

No offense, but Kohn sounds like a Jewish name?

Seymore Klearly
State of New York New York v. Future Income Payments LLC The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below. On October 20, 2016 the company entered into a Consent Order with the New York Department of Financial Services. It was alleged that the company operated without a license, charged interest rates higher than New… Read more »
Seymore Klearly
The City of Los Angeles LA v. Scott Kohn The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government’s allegations, which have not yet been proven. On February 16, 2017, the Los Angeles City Attorney announced his office will be filing a lawsuit against Scott Kohn and several companies he owns. Allegations include predatory lending practices that targeted seniors and… Read more »
Flotmorton P Gildersleeve
Flotmorton P Gildersleeve

Let us draw straws as to who will surprise Scott Kohn; He just doesn’t get it. He needs to be convinced by guys in camo with black paint on our faces, and he needs to be made an example of. After this experience he should not be capable of any job except for floor mopping.

cj

@Flotmorton P Gildersleeve: Good to see you again, don’t stay away so long next time!!

Seymore Klearly
More on Minnesota Minnesota Attorney General v Future Income Payments LLC The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven. On August 16, 2017 the State of Minnesota’s Attorney General filed a complaint against Future Income Payments LLC. The company is being accused of unlicensed lending and charging interest rates higher than… Read more »
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