Arete Financial Group

Last Updated:
Case Status:
Federal Trade Commission, Plaintiff, v. American Financial Support Services Inc.; Arete Financial Group, a corporation, also doing business as Arete Financial Freedom; Arete Financial Group LLC; CBC Conglomerate LLC, also doing business as; Diamond Choice Inc., also doing business as Interest Rate Solutions; J&L Enterprise LLC, also doing business as Premier Solutions Servicing; La Casa Bonita Investments, Inc., formerly known as La Casa Bonita Investments LLC, also doing business as Education Loan Network, also doing business as Edunet; US Financial Freedom Center, Inc., a corporation; Carey G. Howe; Anna C. Howe; Shunmin “Mike” Hsu; Ruddy Palacios also known as Ruddy Barahona; Oliver Pomazi; and Jay Singh, Defendants, and MJ Wealth Solutions, LLC, Relief Defendant.
FTC Matter/File Number:

192 3040

Civil Action Number:


Federal Court:
Central District of California

Case Summary

The Federal Trade Commission obtained a temporary restraining order halting an operation that bilked consumers out of millions of dollars by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. The FTC’s complaint against Arete Financial Group and several related companies alleged that the defendants used radio and television ads, as well as online ads and telemarketing calls in which they pretended to be affiliated with the Department of Education, to promise to enroll consumers in student loan forgiveness, consolidation, and repayment programs to reduce or eliminate their monthly payments and principal balances.