By allowing banks to kick people out of their homes using fraudulent creative paperwork, this kind of fraud is inevitable.
A sign in the front of a building on West 39th Street tells visitors that it’s the Unicredit Debt Resolution Center in Erie.
Once debtors got inside, they were fooled into believing they were in a courtroom with a judge, but the whole thing was a fake, according to a lawsuit filed by the Pennsylvania attorney general.
Team 4′s Jim Parsons reported that Unicredit America is accused in the lawsuit of deceiving, misleading and coercing hundreds of consumers into paying off their debts.
Well, why not? Banks used hairdressers and Wal-Mart floor workers with no formal training as “foreclosure experts” in order to make millions of Americans destitute because their exploitive loans are now worth more than their homes. After all, indebted people are stupid, and they deserve to be taken advantage of.
I do have to give Unicredit America points for creativity, though.
The Attorney General’s Office told Team 4 that Unicredit lured debtors to the building by sending employees who appeared to be sheriff’s deputies to their homes, implying that they would be taken into custody if they failed to appear at the phony court hearings.
So much of what the elite business class does is pure illusion. Grab a couple hairdressers and call ‘em “foreclosure experts.” Clean up some of the fellas at the bus stop and they’re “sheriffs.” Sell some poor people shitty loans and call them “subprime mortgages.”
When the underclass does this, it’s called fraud. When the elite does it, it’s called Capitalism.
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– Allison Kilkenny