OMAHA, Nebraska (AP) — An alleged pyramid scheme by an insurance agency that recently filed bankruptcy listing more than $100 million in debt is being investigated.
Attorney General Jon Bruning on Tuesday authorized the State Patrol’s investigation into First Americans Insurance Service and its three principals: James Masat, Stella Levea and Kenneth Mottin. The patrol is working with the departments of insurance and banking to piece together Read the rest of this entry »
First American Insurance which recently filed bankruptcy with $100 million in debt is now being investigated for an alleged pyramid scheme. A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, often without any product or service being delivered.
Nebraska Attorney General Jon Bruning authorized the investigation into the company’s services and its three principals: James Masat, Stella Levea Read the rest of this entry »
Hagens Berman Sobol Shapiro filed a lawsuit on behalf of consumers against one of the nation’s largest title and escrow companies, First American Title Insurance, claiming the company engaged in a series of schemes and deceptions designed to bilk customers out of millions of dollars.
The lawsuit identifies four schemes created to bilk customers.
The complaint alleges First American engaged in a captive home loan reconveyance scheme - charging customers fees for reconveyance when the reconveyance is actually done by the prior lender, a charge built into the payoff amount.
The complaint also claims First American engaged in a retained interest scheme, pooling customer’s loans and taking the profit from gained interest, the suit states. The company failed to disclose this to customers, which is a violation of fiduciary duties, according to the claim.
Join the First American Title Insurance Lawsuit !!!!!
In any class action suit, the court approves who will be eligible for participation in the class. If you feel you may qualify for damages or remedies that might be awarded in the First American Title Insurance lawsuit, we request you fill out the form below to help us determine if you are a legitimate member of the class or to make sure you get any court mailings about the case.
All information contained in this transmission is confidential and Hagens Berman Sobol Shapiro agrees to protect information against unauthorized use, publication or disclosure. However, if you would like to join the class and do not wish to submit information via the Internet, please contact us by phone at (206) 623-7292. We would be happy to discuss eligibility with you then.
If you used First American Title Insurance, please contact HBSS by clicking here or e-mailing info@hbsslaw.com.
Welcome to my brand new blog that I have dedicated to chronicle and report on the shady business practices of First American Title.
My whole story will be posted on here as well as many other stories of lies and hypocrisy. I will utilize my right to free speech, social media and search engine optimization to fight this billion dollar Goliath.
My facts, research, bad press, lawsuits and the truth will expose First American Title for who they truly are……..
Original post on the Home Loan Forum