I am filing this complaint on behalf of a family member who like thousands of other victims were collectively ripped off on car leases by GMAC (General Motors Acceptance Corporation), Honda,
Mitsubishi and Mazda. My family member was taken to the cleaners
by GMAC.
After a massive outcry by thousands of victims, the Federal Trade
Commission and several state attorneys general felt the "heat" and took what APPEARED to be punitive action against what can only be termed "white collar fraud".
Unfortunately ALL this grandstanding in the media did was to
make the PAC money compromised attorneys general LOOK good to the voters by appearing to take "forceful action" against the
white collar sneak thieves.
BUT these "public protectors", like the FTC limited their
"punitive action" against the villains to merely asking them to cease their deceptive, misleading, evasive and fraudulent marketing tactics in their commercials.
Those included among other underhanded tricks, using "quick as a wink, flash card" disclaimer-disclosures" etc which were flashed on the television screen so fast that the victims could
NOT see them or understand them.
"No down payment leases" were another deceptive, entrapment tactic.
The attorneys general and the FTC also asked the vilains to take the "blur" out of their fine print, hidden hook "entrapment legalese" in their lease contracts which camouflaged and concealed thousands of dollars in hidden, buried costs.
And of course the Federal Trade Commission posted a report on it's website which I've downloaded onto floppy disks so the
evidence couldn't be "deleted or destroyed".
BUT these white collar sneak thieves who collectivly fleeced and ripped off thousands of Americans for hundreds of millions of dollars were allowed by these states attorney general AND the FTC to KEEP THE PROCEEDS OF THIS FRAUD.
Furthermore they allowed the villains to continue to use their
"accessory to fraud" credit bureu henchmen to FORCE victim surrender to the fraud and fleecing by holding them hostage to their credit ratings.
Many victims who attempted to escape the scam by returning the vehicles early were hit with huge deficiency judgements which of course went on their credit reports.
Naturally while the attorneys general needed to pacify the voters and make them happy they could NOT afford to alienate their special interest PAC money benefactors who held the key$
to their political careers. SO media grandstanding was the
extent of their "action on behalf of the victims of this fraud".
Now Webster's defines FRAUD as "gain by deceit"."The LAW"
applies that defination to the "average person" who perpetrates
an act of "gain by deceit" against a merchant, business, corporation or financial institution such as GMAC.
IN FACT it is a felony offense to make a false, misleading, evasive or dishonest statement on loan application or lease
agreement such as a GMAC car lease.
That is punishable by several years in prison, forced restitut-
ion, a FELONY RECORD FOR LIFE &, and of course a "bad credit rating".
BUT when the white collar sneak thieves and their accessory to
fraud credit bureau henchmen perpetrate "gain by deceit" on
THOUSANDS of victims "the law" merely grandstands in the media -,
then quietly allows the sneak thieves to slither through a
PAC money purchased loop hole —, AND KEEP THE FRUITS OF FRAUD".
In these car lease scams like so many other big business and corporate scams the perps did NOT go to jail, pay restitution or
wind up with a bad credit rating.
There is little doubt that THESE white collar sneak thieves
wound up with big promotions, huge bonuses, lucrative stock
options and lavish pension plans for "enhancing the bottom line" of their employer.
Now I'm retired from a federal law enforcement agency and I've SEEN a LOT of powerless and politically abandoned people doing a LOT of time behind bars for a ripping off FAR fewer victims for
FAR less money than these corporate scoundrels got away with in this scam!
There is something very wrong with that scenario and I can assure that it plays a KEY role in much of the contempt for "the law", rage and even violence that plagues our society today while "the law" twiddles it's thumbs and "wonders why".
If the AVERAGE person committed the offenses that these corporate sneak thieves AND their "accessory to fraud" credit bureau henchmen enforcers commit that "average" person would be
charged with FRAUD, extortion, blackmail, character assassination and a laundry list of other serious charges.
It's time to draw a line in the sand and bring this type of
scandalous abuse to a screeching halt.
In view of the fact that just the involvement of the state
attorneys general and the Federal Trade Commission has PROVEN
dishonesty, rip off and fraudulent actions on the part of these
sneak thieves I think it is high time that we unite to get justice for ALL of the victims of this scam.
There is NO ethical basis and there should be NO legal tolerance for the credit bureaus to act as "accessory to fraud" enforcers in scams such as these.
It is criminal in every sense of the word. The "LAW" locks up mafia goons for using blackmail to facilite fraud and force compliance but limits punishment of PAC money protected high roller white collar sneak thieves to a request "not to do it
any more".
Hiding behind "the law" does PROTECT the villains but it does NOT sanitize fraud, extortion or blackmail by white collar sneak thieves and their accessory to fraud henchmen credit bureaus
enforcers.
In view of the fact that this WAS IN FACT a scam I believe we must mount a united campaign to FORCE the credit bureaus to
completely and permenently DELETE AND EXPUNGE any and ALL
reference to this scam from ALL credit records of ALL victims of this scam. That includes but it not exclusive to any and all
deficiency judgements which have been lodged against victims.
No reasonable or honest person should have any problem with honest and ethical businesses, lenders etc protecting their
interests by ETHICAL use of the credit bureaus. That is simply
"free enterprise" and we all must be responsible for paying
legitimate debt which was incurred in a spirit of honesty and
"fair play".
Being held hostage to blatant fraud and rip off is entirely
another matter and there is NO place in a truly FREE and
honorable country or political system for such tyranny!
Ivan
Marshfield, Missouri
U.S.A.
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