A California businessman pleaded guilty to wire and mail fraud for running a fake debt collection agency that took in more than $5 million over two years.
Callers targeted victims who recently took out a high-interest “payday” loan. They used personal information like Social Security numbers and bank account numbers stolen from loan applications. They convinced victims they needed to make additional payments, usually worth several hundred dollars.
http://cir.ca/s/qfFB
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