Federal Government Seeking Forfeiture Of 2 Chattanooga Buildings Used In Carey Brown Payday Loan Scheme

  • Thursday, September 8, 2016

The federal government is seeking forfeiture of two Chattanooga business complexes that were used in the payday loan scheme of Carey Brown.

Brown pleaded guilty in New York in May related to his payday loan practices.

The buildings at 1516 Riverside Dr. and 5962 Brainerd Road were used in the operation of ACH Federal and Credit Payment Services (CPS). ACH Federal transmitted money borrowed by people throughout the U.S.

A complaint filed in Chattanooga Federal Court said the businesses were not in compliance with certain laws and requirements and were operating illegally.

It says each borrower was required to state that the transactions were actually taking place in Anguilla, British West Indies.

The complaint says a number of computer servers were kept at the Riverside Drive property, while the Brainerd Road site was a call center known as Support Seven.

Support Seven processed loans for CPS as well as Credit Protection Depot, which was owned by Brown's business partner, Sherry Huff, it was stated.

It says ACH Federal, Brown and others knowingly participated in unlicensed money transferring offenses.

 

 

 


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