and Relief Defendant MJ Wealth Solutions, LLC has been continued to May 28, 2021. ![]() J&L Enterprise LLC La Casa Bonita Investments, Inc. The hearing on the FTC’S Motion for Default Judgment Against Defendants Arete Financial Group Arete Financial Group LLC CBC Conglomerate LLC Diamond Choice Inc. and Relief Defendant MJ Wealth Solutions, LLC has been continued to July 23, 2021.Īt the hearing held on May 7, 2021, the Court extended the stay of the case until June 11, 2021, at which time it will hold another status conference to consider the proposed Stipulated Order for Permanent Injunction and Monetary Judgment as to Defendants American Financial Support Services Inc., US Financial Freedom Center, Inc., and Jay Singh. ![]() The status conference on that proposed Order, as well as the FTC’S Motion for Default Judgment against Defendants Arete Financial Group Arete Financial Group LLC CBC Conglomerate LLC Diamond Choice Inc. On June 14, 2021, the parties filed with the Court a revised proposed Stipulated Order for Permanent Injunction and Monetary Judgment as to Defendants American Financial Support Services Inc., US Financial Freedom Center, Inc., and Jay Singh. As further information becomes available, we will post it on the Receiver’s website. If the FTC prevails in the case, the matter of refunds for customers of Defendants’ student loan debt relief businesses will be an issue for the FTC and the Court to resolve. The Receiver is winding up his duties as they pertain to his investigation. The Court granted their request on September 29, and the hearing was rescheduled to November 12, 2021. The Arete Entity Defendants and the FTC entered into settlement discussions and filed a stipulation with the Court to continue the hearing on the default judgment. On September 16, 2021, Defendants Arete Financial Group d/b/a Arete Financial Freedom and Arete Financial Group LLC (“Arete Entity Defendants”) made their first appearance in the case by filing a motion to set aside the entry of default which was being pursued by the FTC. Stipulated Orders for Permanent Injunction have been entered against all individual Defendants, as well as Defendants American Financial Support Services Inc. ![]() The Receiver has completed his duties as they pertain to his investigation and is awaiting the outcome of the ruling on the proposed Order before filing his request for discharge with the Court. The proposed Order is still pending before the Court. On January 26, 2022, the Arete Entity Defendants and the FTC submitted a proposed Stipulated Order for Permanent Injunction and Monetary Judgment as to the remaining Defendants – Arete Financial Group, Arete Financial Group LLC, CBC Conglomerate LLC, Diamond Choice Inc., J&L Enterprise LLC, La Casa Bonita Investments, Inc., and Relief Defendant MJ Wealth Solutions, LLC. If the Federal Trade Commission implements a consumer redress program, the information will be available on their website ( ). (A copy of the Report is linked to the right.) Upon Court approval of the Receiver’s discharge, the funds that the Receiver has marshalled will be transferred to the Federal Trade Commission. (The Order is linked to the right.) The Receiver’s Final Report and Request for Discharge was filed on Apand is pending before the Court. and Relief Defendant MJ Wealth Solutions, LLC on March 30, 2022. ![]() On March 30, 2022, the Court entered an Amended Stipulated Order for Permanent Injunction and Monetary Judgment as to Defendants Arete Financial Group Arete Financial Group LLC CBC Conglomerate LLC Diamond Choice Inc. American Financial Support Services Inc., et al.
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