FTC Issues Checks to 5,000+ Victims of Debt Collection Scheme
In 2014, the FTC seized $3.3 million worth of assets from Jason Begley and Wayne Lunsford, the primary owners of Rincon, to cover the refunds. The defendants were permanently banned from debt collection. During their operation, they used aggressive tactics to collect debts from people who were “strapped for cash,” telling them they were going to be sued or arrested if they didn’t pay their debt. In many cases, Rincon workers collected money on debts that were not actually owed.
The amount of money on each refund check varied from person to person, with the average being $525. The FTC said recipients should cash or deposit their checks within 60 days. The organization itself will not charge a fee for cashing or depositing the check, but some check-cashing locations or financial institutions may require a fee for their services.
The FTC provides updates about all current and past refunds on their website, along with contact information where refund recipients can monitor the status of their reimbursements.