XPost: alt.gossip.celebrities, sac.general, alt.politics.democrats.d
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A man accused of swindling veterans of their retirement and
disability benefits for more than 7 years has been ordered to
stop engaging in illegal pension poaching and told to pay $1 as
part of a settlement.

Mark Corbett, while serving as a financial agent for several
lending companies between 2011 and 2018, would reportedly offer
to send cash-advance loans with “excessively high-interest
rates” in exchange for receiving all or part of the veterans’
monthly pension or disability payments for a period of five to
10 years, Stars and Stripes reported.

According to a consent order by the Consumer Financial
Protection Bureau from Jan. 23, Corbett brokered contacts for
the so-called Doe Companies, marketed to veterans who sought
loans or pension sales.

Federal law prohibits agreements under which another person
acquires the right to receive a veteran’s pension payments, the
bureau’s consent order notes.

The consent order said Corbett tried to bypass the law by
telling veterans that “this is not a loan, you are selling a
product for a set price.”

The bureau found that Corbett’s acts were deceptive, unfair and
likely caused “substantial injury;” however, it only handed him
a monetary penalty of just $1.

The bureau said Corbett was unable to pay more based on sworn
financial statements that he provided and his ongoing
cooperation with the agency’s investigation into illegal pension
poaching.

According to Stars and Stripes, Corbett is named in a separate
federal lawsuit filed in 2017 from three veterans who accuse him
and others of illegally bilking veterans desperate for cash out
of millions of dollars from their military pensions and benefits.

It was not immediately clear if the bureau’s order would affect
the federal lawsuit.

As part of the bureau’s settlement, Corbett must help the agency
identify other veterans affected by his scheme.

https://www.foxnews.com/us/man-who-repeatedly-scammed-veterans- out-of-retirement-disability-pay-fined-1-report
 

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