Minnesota Attorney General Keith Ellison announced that his office has joined a lawsuit against Strategic Financial Solutions (SFS) for operating an illegal debt-relief scheme.
The lawsuit was filed on January 10 by the Consumer Financial Protection Bureau and attorneys general from six other states.
The lawsuit alleges that SFS used a network of shell companies and fake law firms to charge illegal fees and falsely claim to provide legal assistance to vulnerable consumers struggling with debt. Since 2016, SFS has collected over $100 million in illegal fees.
“Consumers came to Strategic Financial Solutions for help getting out of debt and instead of receiving that help, they were ripped off,” said Attorney General Ellison. “Preying on people in debt is as reprehensible as it gets. I am glad to be partnering with the Consumer Financial Protection Bureau and other attorneys general to put a stop to Strategic Financial Solutions’ illegal and unethical behavior and return money to the people they scammed.”