ORLANDO FEDERAL JUDGE ENTERS TEMPORARY RESTRAINING ORDER IN ACTION BY FTC AND FLORIDA ATTORNEY GENERAL AGAINST COMPANIES ACCUSED OF RUNNING NATIONWIDE CREDIT CARD INTEREST RATE REDUCTION SCAM
FOR IMMEDIATE RELEASE:
MIAMI, FL (July 22, 2020) – In an order being unsealed today, U.S. District Court Judge Wendy Berger of the Middle District of Florida, Orlando Division, entered a Temporary Restraining Order halting the operations of Orlando-based businesses for allegedly making millions of dollars off of consumers by running a nationwide credit card interest rate reduction scam. The Federal Trade Commission and Florida Attorney General Ashley Moody jointly filed the lawsuit. Defendants are G & G Success LLC doing business as YF Solution LLC, G & N Squared LLC doing business as Dynamic Solution Group, GDP Network LLC, G.C.D. Management LLC, Grace De Paz, Gino De Paz, and Shabana Khublal.
The Temporary Restraining Order also appointed Jonathan E. Perlman, a shareholder at Genovese Joblove & Battista, P.A. (“GJB”), as Receiver, and charged Perlman with taking full control of the corporate defendants’ businesses and assets. The case is Federal Trade Commission, et al v. GDP Network LLC, et al., Case No: 6:20-CV-1192-Orl-78DCI.
According to the complaint, since 2014 the defendants operated a credit card interest rate reduction scam that preyed on older consumers struggling with credit card debt. Via telemarketing cold calls, defendants allegedly promised to permanently reduce their credit card interest rates and guaranteed them thousands of dollars in savings, even after having charged as much as $3,995 upfront.
In reality, consumers typically received no permanent debt reduction, and they were left in worse shape in terms of debt and shattered credit, according to the complaint.
Perlman stated, “I consider it an honor to be appointed as Receiver in a case to help consumers. My team and I are experienced in these matters, and I expect to be able to quickly conduct an investigation, and if the allegations are proven true, maximize recovery for consumers who have been harmed.”
Perlman is regularly appointed by courts to serve as Receiver, including in actions brought by the FTC, SEC or State of Florida. In May, Perlman was appointed Receiver over the $500 Million TCA Global hedge fund family, who the SEC has sued for securities fraud. Perlman is a director of the National Association of Federal Equity Receivers (NAFER) and chairs NAFER’s Best Practices Committee.
Anyone having knowledge or information concerning the allegations in this case is encouraged to contact the Receiver’s team by sending an email to [email protected] or calling the YF-DSG Receivership Hotline at 1-833-984-1102. Additional information can be found on the Receiver’s website at www.YFS-DSGReceivership.com or on the FTC’s website.
About Genovese Joblove & Battista, P.A.
Genovese Joblove & Battista, P.A. (“GJB”) is a major regional firm serving clients throughout the United States, with offices in Miami, Fort Lauderdale and Tampa, and an affiliate office in Caracas, Venezuela. GJB attorneys are recognized for their experience representing clients in large and complex litigation in many areas, including receiverships, bankruptcy, franchising and commercial litigation, as well as white collar, real estate, employment law, class actions and securities litigation. The firm also counsels clients in local, state and federal government matters. For more information, visit www.gjb.law.