The End Has Come With a Whimper for Arete Financial Freedom and Others

The court just recorded an apparent final disposition in the Arete Financial Freedom lawsuit.

The parties included under the Stipulated Order for Permanent Injunction and Monetary Judgment include Arete Financial Group, Arete Financial Freedom, CBC Conglomerate, 1file.org, Diamond Choice Inc., Interest Rate Solutions, J&L Enterprise, Premier Solutions Servicing, La Casa Bonita Investments, Inc., La Casa Bonita Investments, Education Loan Network, Edunet, and MJ Wealth Solutions.

The Defendants have agreed to a Judgment in the amount of Twenty-Two Million Seventy-Nine Thousand Seven Hundred Eighty-Seven Dollars and Thirty Cents ($22,079,787.30). There is no way that will ever be fully satisfied but the Court Receiver will exercise best efforts to recoup what is available.

The Defendants have agreed to be “permanently restrained and enjoined, whether acting directly or through an intermediary, from advertising, marketing, promoting, offering for sale, or selling, or Assisting Others in the advertising, marketing, promoting, offering for sale, or selling, of any Debt Relief Product or Service.”

I think we can read that like the proverbial “stick a fork in them” statement.

The order states “For 15 years after entry of this Order, each Stipulating Defendant must deliver a copy of this Order to: (1) all principals, officers, directors, and LLC managers and members; (2) all employees having managerial responsibilities for the conduct specified in Section IV and all agents and representatives who participate in the conduct specified in Section IV; (3) any payment processor or lead broker or generator used by the business; and (4) any business entity resulting from any change in structure as set forth in the Section titled Compliance Reporting. Delivery must occur within 7 days of entry of this Order for current personnel. For all others, delivery must occur before they assume their responsibilities.” – Source

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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