The California CEO behind a multimillion-dollar student loan repayment scam will spend three and a half years in prison after pleading guilty to wire fraud and money laundering, a federal district judge ruled Monday.
Brandon Frere, who owned and operated American Financial Benefits Center, Financial Education Benefits Center, and Ameritech Financial, admitted to using deceptive tactics in the marketing of student loan repayment programs that targeted those who sought federal loan forgiveness, consolidation, and reduced payment programs.
He instructed employees to make false statements about the companies’ ability to deliver fixed payments for the life of student loans and to ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.