Victims of the Brookstone Law mortgage scam have an update from the Receiver.
“The Court granted the FTC’s Motion for Summary Judgment against Jeremy Foti and Charles Marshall, which includes a permanent ban on participation with secured or unsecured debt relief products and services. Monetary Judgments were entered against Jeremy Foti for $18,146,866.34 and Charles Marshall for $1,784,022.61. Both have appealed to the United States Court of Appeals for the Ninth Circuit. Jeremy Foti’s appeal was dismissed. Charles Marshall’s appeal is pending.
Final Judgment was also entered against the four Corporate Defendants: Brookstone Law P.C. (California), Brookstone Law P.C. (Nevada), Advantis Law P.C., and Advantis Law Group P.C. The Corporate Defendants are also subject to a permanent ban on secured or unsecured debt relief products and services and subject to a monetary judgment of $18,146,866.34.
The Court also authorized the Receiver to sell 300 Morning Star Lane, Newport Beach, CA held by Receivership Entity Time Out Management Ltd., LLC. The property is listed at $7,995,000 and is being actively marketed. After satisfying outstanding obligations and paying fees and expenses of the receivership, the proceeds will be disbursed to the FTC which may implement a consumer redress program or other equitable relief depending on the amount of money available.” – Source
Some small refunds may be coming to victims in the future from the FTC.