Student Loan Co. CEO Given 3.5 Years For Debt Relief Scam
Law360 (July 27, 2020, 10:35 PM EDT) — A California financial services executive was sentenced to three-and-a-half years in prison on Friday for wire fraud and money laundering charges connected to a phony multimillion dollar student loan debt relief scheme.
U.S. District Judge Susan Illston sentenced Ameritech Financial CEO Brandon Frere, 43, of Sonoma County, who pleaded guilty to the charges in December.
According to prosecutors, Frere and his companies, which also include American Financial Benefits Center and Financial Education Benefits Center, used deceptive tactics to scam millions from student loan recipients looking for lower fixed payments and loan forgiveness on their student debt.
Frere’s employees were instructed to advise customers to…