Rutledge closes 2 companies that charged high-interest credit in exchange for VA benefits; settlement to pay vets 2.7 mil

Friday, August 16, 2019 4:11 pm

FOR IMMEDIATE RELEASE

 

Contact:

Amanda Priest, (501) 414-2223

Amanda.Priest@ArkansasAG.gov

 

Rutledge: Voyager to close and pay as part of settlement for ripping off Veterans in exchange for pensions

Settlement requires Voyager Financial to pay $2.7 million to impacted vets

 

LITTLE ROCK - Arkansas Attorney General Leslie Rutledge announced the filing of a Stipulated Final Judgment and Order against central Arkansas owner Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp. for the brokering of contracts that offer high-interest credit to veterans in exchange for investors illegally acquiring rights to receive future pension payments. These businesses and their former owner are permanently prohibited from offering these illegal agreements.   

 

“Scam artists will stop at nothing to try to poach our veterans’ pensions despite state and federal protections,” said Attorney General Rutledge. “We will always go after those who try to take advantage of our veterans and their much deserved pensions.”

 

The settlement alleges violations of the Consumer Financial Protection Act of 2010, the Arkansas Deceptive Trade Practices Act and the Arkansas Constitution. The federal Consumer Financial Protection Bureau joined Attorney General Rutledge in the investigation and settlement of claims against Voyager.  The Company and its owners are permanently banned from brokering, offering and arranging agreements between pension recipients and third parties. Defendants must cooperate fully with the Attorney General and Bureau to determine the identity and location of, and the amount of injury sustained by, each consumer.

 

If you are a consumer who has been impacted by the actions by Voyager Financial Group or its owners, Rutledge encourages you to contact the Attorney General’s Consumer Protection Hotline at (800) 482-8982.