Consumer complaint received 2020-01-11
Company: Riverwalk Financial Corporation
State: PA
Product: Debt collection
Sub-product: I do not know
Issue: False statements or representation
Sub-issue: Indicated you were committing crime by not paying debt

Complaint:
I was contacted by telephone by Deville Asset Management Limited, the agent XXXX XXXX fraudulently misrepresented to me that he was prepared to take legal action against me if I did not submit to all of his demands, he insisted that criminal charges were pending in the event that I did not succumb to his attempts to extort monies from me. I disputed his assertions that a valid debt existed and demanded that he does not call me again and, that he provide me with a collection notice so that I could research the alleged debt further, which he refused and insisted that I would have to make a request in writing pursuant to the FDCPA. So I responded to his lunacy by saying " there is no such requirement that I request in writing a collection notice '' in any event I asked him to provide me with his employee number and contact address, XXXX XXXX provided me with his ID # and address. I read the FDCPA, among other things in its entirety and could not find any section where I or any consumer are under any lawful obligation to make a written request for a collection notice ( dunning letter ). So in order to get the ball rolling, I sent him his ridiculous request for a collection notice by certified mail, signature required, well a month went by and I never received the return receipt from the letter sent, so I tracked it on the USPS web site and even filed a complaint with them ( USPS ) about it ( I have all the emails regarding the certified mail that he ( XXXX XXXX intentionally dodged ) finally I receive a letter from another agent with a dunning letter and attached were very poor photocopies of 2 invoices, that frankly, anyone can produce with a computer. At that point, I disputed with all the CRA 'S ( Via certified mail ) and sent DEVILLE ASSET MANAGEMENT LIMITED my debt validation letter + a cease and desist notice along with an invoice for my time to research the laws and draft the documents. 
Well, they continue to call and make threats about lawsuits and criminal action against me and I would like for your taxpayer-funded organization to step in and set these clowns straight. 
Additionally, as I was researching The FDCPA, FACTA, FCRA, TCPA, and the paralleling laws here in my home state of Pennsylvania, I stumbled upon a press release from the SEC regarding Deville Asset Management Limited dated just last year : I have attached here for your convenience : Press Release SEC Shuts Down {$340.00} XXXX Fraud and Obtains Asset Freeze FOR IMMEDIATE RELEASE XXXX-XXXX Washington XXXX, XX/XX/XXXX The Securities and Exchange Commission today announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than {$340.00} XXXX from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver. 
An SEC complaint unsealed yesterday alleges that XXXX XXXX XXXX, XXXX XXXX XXXX and XXXX XXXX attracted investors to their scheme by promising significant profits from the purchase and resale of consumer debt portfolios. But in fact, the defendants were allegedly using a web of lies, fabricated documents, and forged signatures in an elaborate scheme to entice investors and perpetuate the fraud. Rather than direct investor funds to the acquisition and servicing of debt portfolios as promised, the defendants allegedly used the funds to make Ponzi-like payments to earlier investors. The SEC also alleges that XXXX XXXX XXXX stole at least {$85.00} XXXX of the investor funds to maintain lavish lifestyles, spending millions of dollars on luxury items, including {$10.00} XXXX on at least 25 high-end cars, {$330000.00} for a 7-carat diamond ring, {$160000.00} for a 23-carat diamond bracelet, millions of dollars on luxury homes, and {$100000.00} to a private fitness club. 

" The defendants touted their purported investment expertise to siphon millions of dollars from unsuspecting investors, '' said XXXX XXXX, Co-Director of the SEC 's Division of Enforcement. " We filed this action on an emergency basis to put a stop to this fraud and protect investors from further harm. '' " We allege that the defendants engaged in a brazen fraud, deceiving investors to perpetuate their wrongdoing and line their pockets with ill-gotten gains, '' said XXXX XXXX XXXX, Associate Regional XXXX of the SEC 's XXXX Regional Office. "  Investors should be warned that low-risk, high-return investments that never lose should be a red flag. '' In a parallel action, the U.S. Attorney 's Office for the District of Maryland today announced criminal charges against XXXX, XXXX, and XXXX. 

The SEC 's complaint, filed on XXXX XXXX in federal district court in Maryland, charges XXXX, XXXX, and XXXX, along with their entities, XXXX XXXX XXXX, XXXX, XXXX XXXX, XXXX, XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX, XXXX, DeVille Asset Management LTD, and XXXX XXXX XXXX, with violations of the antifraud provisions of the federal securities laws. The court granted the SEC 's request for an asset freeze, temporary restraining order, and the appointment of a receiver. The SEC seeks disgorgement of allegedly ill-gotten gains and prejudgment interest, and financial penalties against the defendants. 

The SEC 's continuing investigation is being conducted by XXXX XXXX XXXX, XXXX XXXX XXXX, and XXXX XXXX XXXX in the XXXX Regional Office and supervised by Ms. XXXX. The SEC 's litigation is being led by XXXX XXXX XXXX, XXXX XXXX XXXX, and XXXX XXXX XXXX. The SEC appreciates the assistance of the U.S. Attorney 's Office for the District of Maryland and the Federal Bureau of Investigation. 

As you can see from the above SEC press release dated XX/XX/2018, DEVILLE ASSET MANAGEMENT had some colorful characters in some very high positions within that company ( top management ) creating false documents, making fraudulent representation etc. So if the guys a the top of the food chain are committing all these nefarious acts I can only imagine what the people below are willing to do. It is obvious from the from my own experience with them that they are willing to break the laws to make a buck. 
I have copied all my documents sent to all parties in case I need to take legal action against these confederates, I would be willing to provide you with any document to settle the matter. 

Again I am willing to provide documents, at this moment I am using another computer that does not have the doc 's I referenced but am happy to provide you with everything I have.

Company response to consumer: Closed with explanation