of New York, 

Plaintiffs, 

V. 

HYLAN ASSET MANAGEMENT, LLC, et al., 

Defendants. 

STIPULATED ORDER FOR 

PERMANENT INJUNCTION AND 

MONETARY JUDGMENT AS TO 

ANDREW SHAEVEL; JONE. 

PURIZHANSKY; BOBALEW, LLC; 

BOBALEW MANAGEMENT 

CORPORATION; 6P, LLC; 6P 

MANAGEMENT CORPORATION; AND 

HYLAN ASSET MANAGEMENT, LLC 

Plaintiffs the Federal Trade Commission ("Commission") and the People of the State of 

New York, by the Attorney General of the State of New York ("NY AG"), commenced this civil 

action on June 26, 2018 by filing a complaint (the "Complaint") for temporary, preliminary, and 

permanent injunctive relief and other equitable relief pursuant to Section 13(b) of the Federal 

Trade Commission Act ("FTC Act"), 15 U.S.C. § 53(b), Section 814(a) of the Fair Debt 

Collection Practices Act ("FDCPA"), 15 U.S.C. § 16921(a), N.Y. Executive Law§ 63(12), and 

N.Y. General Business Law Article 22-A, § 349 and Article 29-H, § 601. Plaintiffs amended 

their complaint on August 27, 2018 and named additional defendants. Plaintiffs and Defendants 

Andrew Shaevel; Jon E. Purizhansky; Bobalew, LLC; Bobalew Management Corporation; 6P, 

LLC; 6P Management Corporation; and, Hylan Asset Management, LLC, stipulate to the entry 

of this Stipulated Order for Permanent Injunction and Monetary Judgment ("Order") to resolve 

all matters in dispute in this action between them. 
in connection with the marketing, distribution, sale, and placement of purported payday 

loan debt portfolios, in violation of Section 5(a) of the FTC Act, I 5 U.S.C. § 45(a), and 

N.Y. General Business Law Article 22-A § 349 and Article 29-H § 601. 

3. Defendants neither admit nor deny any of the allegations in the Complaint, except as 

specifically stated in this Order. Only for purposes of this action, Defendants admit the 

facts necessary to establish jurisdiction. 

4. Defendants waive any claim that they may have under the Equal Access to Justice Act, 

28 U.S.C. § 24 12, concerning the prosecution of this action through the date of this 

Order, and agree to bear their own costs and attorney fees. 

5. Defendants and Plaintiffs waive all rights to appeal or otherwise challenge or contest the 

validity of this Order. 

DEFINITIONS 

For the purpose of this Order, the following definitions apply: 

A. "Corporate Defendants" means Bobalew Management Corporation; Bobalew, 

LLC; 6P Management Corporation; 6P, LLC; Hylan Asset Management, LLC; 

and by whatever other names they may be known, and their successors and 

assigns, any fictitious business entities or business names created or used by these 

entities, any of the Subsidiary Defendants," infra, Hylan Debt Fund, and its series, 

as well as Mainbrook Asset Partners, LLC and Mainbrook Asset Partners I, LLC. 

2 
purpose of (i) improving any consumer's credit record, credit history, or credit 

rating; or (ii) providing advice or assistance to any consumer with regard to any 

activity or service described in clause (i). 

C. "Debt" means any obligation or alleged obligation to pay money arising out of a 

transaction, whether or not such obligation has been reduced to judgment. 

D. "Debt Collection Activities" means any activities of a Debt Collector to collect 

or attempt to collect, directly or indirectly, a Debt owed or due, or asserted to be 

owed or due. 

E. "Debt Collector" means any Person who uses any instrumentality of interstate 

commerce or the mails in any business the principal purpose of which is the 

collection of any Debts, or who regularly collects or attempts to collect, directly 

or indirectly, Debts owed or due or asserted to be owed or due another. The term 

also includes any creditor who, in the process of collecting its own Debts, uses 

any name other than its own which would indicate that a third Person is collecting 

or attempting to collect such Debts. The term also includes any Person to the 

extent such Person collects or attempts to collect any Debt that was in default at 

the time it was obtained by such Person. 

F. "Defendants" means all of the Individual Defendants, the Corporate Defendants, 

and the Subsidiary Defendants, individually, collectively, or in any combination. 

3 
2. provide to any consumer, arrange for any consumer to receive, or assist 

any consumer in receiving, Credit Repair Services; or 

3. provide to any consumer, arrange for any consumer to receive, or assist 

any consumer in receiving, any Secured or Unsecured Debt Relief Product 

or Service. 

H. "Individual Defendants" means Andrew J. Shaevel and Jon E. Purizhansky. 

I. "Investment Grade Bond" shall mean a bond that has been rated Baa3, P-3, or 

higher by Moody's Investors Service; BBB-, A-3, or higher by Standard & Poor's 

Global Ratings; or BBB-, F3 , or higher by Fitch Ratings. 

J. "Person" means a natural person, organization, or other legal entity, including a 

corporation, partnership, proprietorship, association, cooperative, or any other 

group or combination acting as an entity. 

K. "Subsidiary Defendants" means Hylan Debt Fund, and its series, as well as 

Mainbrook Asset Partners, LLC and Mainbrook Asset Partners I, LLC. 

L. "Secured or Unsecured Debt Relief Product or Service" means, with respect to 

any mortgage, loan, debt, or obligation between a Person and one or more secured 

or unsecured creditors or debt collectors, any product, service, plan, or program 

represented, expressly or by implication, to: (A) negotiate, settle, or in any way 

alter the terms of payment or other terms of the mortgage, loan, debt, or 

4 
any repossession of a Person's dwelling or other collateral, or otherwise save a 

Person's dwelling or other collateral from foreclosure or repossession; (C) obtain 

any forbearance or modification in the timing of payments from any secured or 

unsecured holder of any mortgage, loan, debt, or obligation; (D) negotiate, obtain, 

or arrange any extension of the period of time within which the Person may (i) 

cure his or her default on the mortgage, loan, debt, or obligation, (ii) reinstate his 

or her mortgage, loan, debt, or obligation, (iii) redeem a dwelling or other 

collateral, or (iv) exercise any right to reinstate the mortgage, loan, debt, or 

obligation or redeem a dwelling or other collateral; (E) obtain any waiver of an 

acceleration clause or balloon payment contained in any promissory note or 

contract secured by any dwelling or other collateral; or (F) negotiate, obtain, or 

arrange (i) a short sale of a dwelling or other collateral, (ii) a deed-in-lieu of 

foreclosure, or (iii) any other disposition of a mortgage, loan, debt, or obligation 

other than a sale to a third party that is not the secured or unsecured loan holder. 

The foregoing shall include any manner of claimed assistance, including, but not 

limited to, auditing or examining a Person's application for the mortgage, loan, 

debt, or obligation. 

M. "Sensitive Personal Information" means any of the following about a consumer: 

(a) Social Security number; (b) financial institution account number; (c) credit or 

5 
ORDER 

I. 

BAN ON DEBT COLLECTION ACTIVITIES 

IT IS THEREFORE ORDERED that Defendants, whether directly or through an 

intermediary, are permanently restrained and enjoined from: 

A. participating in Debt Collection Activities; and 

B. advertising, marketing, promoting, offering for sale, selling, distributing, buying, 

or processing payments on any Debt or any information regarding a consumer 

relating to a Debt. Provided, however, that nothing in this subsection shall 

prohibit Defendants from buying, selling, or holding any Investment Grade Bond. 

II. 

PROHIBITED MISREPRESENTATIONS RELATING TO 

FINANCIAL PRODUCTS OR SERVICES 

IT IS FURTHER ORDERED that Defendants, Defendants' officers, agents, employees, 

and attorneys, and all other Persons in active concert or participation with any of them, who 

receive actual notice of this Order, whether acting directly or indirectly, in connection with 

promoting or offering for sale any Financial Product or Service, are permanently restrained and 

enjoined from misrepresenting or assisting others in misrepresenting, expressly or by 

implication, any material fact, including but not limited to: 

A. the terms or rates that are available for any loan or other extension of credit; 

6 
permanently removing negative information from the consumer's credit record, 

credit history, or credit rating, even where such infonnation is accurate and not 

obsolete; 

C. any aspect of any Secured or Unsecured Debt Relief Product or Service, including 

but not limited to, the amount of savings a consumer will receive from 

purchasing, using, or enrolling in such secured or unsecured debt relief product or 

service; the amount of time before which a consumer will receive settlement of 

that consumer's debts; or the reduction or cessation of collection calls; 

D. that a consumer will receive legal representation; 

E. that any particular outcome or result from a Financial Product or Service is 

guaranteed, assured, highly likely or probable, or very highly likely or probable; 

III. 

PROHIBITION AGAINST MISREPRESENTATIONS 

RELATING TO ANY PRODUCTS OR SERVICES 

IT IS FURTHER ORDERED that Defendants, Defendants' officers, agents, employees, 

and attorneys, and all other Persons in active concert or participation with any of them, who 

receive actual notice of this Order, whether acting directly or indirectly, in connection with 

promoting or offering for sale any good or service, are permanently restrained and enjoined from 

misrepresenting or assisting others in misrepresenting, expressly or by implication, any material 

fact, including but not limited to: 

7 
partial refund, or the circumstances in which a fu ll or partial refund will be 

provided to the consumer; 

C. that any Person is affiliated with, endorsed or approved by, or otherwise 

connected to any other Person, government entity, or other public or commercial 

entity, including an attorney's office, law firm, or court system; 

D. the nature, expertise, position, or job title of any Person who provides any product 

or service; and 

E. any other fact material to a consumer's decision to purchase any good or service, 

such as ( l) the total costs to purchase, receive, or use, and the quantity of, any 

good or service; (2) any material restriction, limitation, or condition to purchase, 

receive, or use any good or service; or (3) any material aspect of the performance, 

efficacy, nature, or central characteristics of any good or service. 

IV. 

PROHIBITION AGAINST UNSUBSTANTIATED CLAIMS 

IT IS FURTHER ORDERED that Defendants, Defendants' officers, agents, employees, 

and attorneys, and all other Persons in active concert or participation with any of them, who 

receive actual notice of this Order, whether acting directly or indirectly, in connection with the 

sale of any product or service, are permanently restrained and enjoined from making any 

representation or assisting others in making any representation, expressly or by implication, 

8 
and reliable evidence, to substantiate that the representation is true. 

V. 

PROHIBITION ON DISCLOSURE OF SENSITIVE PERSONAL 

INFORMATION AND INACCURATE CONSUMER INFORMATION 

IT IS FURTHER ORDERED that Defendants, Defendants' officers, agents, employees, 

and attorneys, and all other Persons in active concert or participation with any of them, who 

receive actual notice of this Order, whether acting directly or indirectly, in connection with 

promoting or offering for sale any good or service, are permanently restrained and enjoined 

from: 

A. selling, transferring, or otherwise disclosing the Sensitive Personal Information of 

a consumer ( other than the Individual Defendant or his immediate family) to any 

Person; provided, however: 

I. Defendants are not prohibited from transferring or otherwise disclosing a 

consumer's Sensitive Personal Information to the extent necessary to process 

payment for any product or service sold by any Defendant directly to that 

consumer and for which the Defendant has the consumer's express, informed 

consent for that sale; and 

2. Defendants are not prohibited from filing an insurance claim or, in exchange 

for healthcare services rendered to a consumer, processing payments from a 

9 
generally available under Section 623(a)(l )(C) of the Fair Credit Reporting Act, 

15 U .S.C. § 1681 s-2(a)(l )(C), while knowing or having cause to believe that the 

information is inaccurate. 

VI. 

CONSUMER INFORMATION 

IT IS FURTHER ORDERED that Defendants, Defendants' officers, agents, employees, 

and attorneys, and all other Persons in active concert or participation with any of them, who 

receive actual notice of this Order are permanently restrained and enjoined from directly or 

indirectly: 

A. failing to provide sufficient consumer information to enable the Plaintiffs to 

efficiently administer consumer redress. If representatives of either Plaintiff 

request in writing any information related to redress, Defendants must provide it, 

in the form prescribed by the Plaintiff, within 14 days; 

B. disclosing, using, or benefitting from consumer information, including the name, 

address, telephone number, email address, social security number, other 

identifying information, or any data that enables access to a consumer's account 

(including a credit card, bank account, or other financial account), that any 

Defendant obtained prior to entry of this Order; and 

10 
court order. 

VII. 

MONET ARY JUDGMENT AND PARTIAL SUSPENSION 

IT IS FURTHER ORDERED that: 

A. Judgment in the amount of six million, seven hundred and fifty thousand dollars 

($6,750,000) is entered in favor of the Plaintiffs against the Defendants, jointly 

and severally, as equitable monetary relief. 

B. Defendants are ordered to pay to make the following payments to Plaintiffs: 

I. Individual Defendant Shaevel shall pay two hundred and thirty-five 

thousand dollars ($235,000). 

2. Individual Defendant Purizhansky shall pay two hundred and thirty-five 

thousand dollars ($235,000). 

3. Corporate Defendants shall pay two hundred and six thousand, five 

hundred and seventy-five dollars ($206,575). 

Such payments must be made within 7 days of entry of this Order by electronic 

fund transfer in accordance with instructions previously provided by a 

representative of the Commission. Upon such payments, the remainder of the 

judgment is suspended, subject to the Subsections below. 

11 
1. the Financial Statement of individual defendant Andrew J. Shaevel signed 

on July 6, 2018, including the attachments; 

2. the Financial Statement of individual defendant Jon E. Purizhansky signed 

on September 14, 2018, including the attachments; 

3. the deposition of individual defendant Andrew J. Shaevel and corporate 

defendant Hylan Asset Management, LLC on July 18, 2018; 

4. the deposition of individual defendant Jon E. Purizhansky and corporate 

defendants 6P, LLC, and 6P Management Corporation on October 19, 

2018; 

5. the Financial Statements, including the attachments, of Corporate 

Defendants: Hylan Asset Management, LLC, signed by Jean Taggert on 

July 6, 2018; 6P Management Corporation, signed by Jon E. Purizhansky 

on September 14, 2018; 6P, LLC, signed by Jon E. Purizhansky on April 

1, 2019; Bobalew Management Corporation, signed by Andrew Shaevel 

on February 25, 2019; Bobalew, LLC, signed by Andrew Shaevel on 

February 25 , 20 19; and 

6. Andrew Shaevel's Responses to Plaintiffs Questions Concerning Windsor 

Park Capital LLC, sworn to on April 18, 2019. 

12 
E. If the suspension of the judgment is lifted, the judgment becomes immediately 

due as to that Defendant in the amount specified in Subsection A. above (which 

the parties stipulate only for purposes of this Section represents the consumer 

injury alleged in the Complaint), less any payment previously made pursuant to 

this Section, plus interest computed from the date of entry of this Order. 

F. Defendants relinquish dominion and all legal and equitable right, title, and interest 

in all assets transferred pursuant to this Order and may not seek the return of any 

assets. 

G. The facts alleged in the Complaint will be taken as true, without further proof, in 

any subsequent civil litigation by or on behalf of the Commission or the NY AG, 

including in a proceeding to enforce their rights to any payment or monetary 

judgment pursuant to this Order, such as a nondischargeability complaint in any 

bankruptcy case. 

H. The facts alleged in the Complaint establish all elements necessary to sustain an 

action by the Commission or the NY AG pursuant to Section 523(a)(2)(A) of the 

Bankruptcy Code, 11 U.S.C. § 523(a)(2)(A), and this Order will have collateral 

estoppel effect for such purposes. 

I. Defendants acknowledge that their Taxpayer Identification Numbers (Social 

Security Numbers or Employer Identification Numbers), which Defendants 

13 
fund administered by the Plaintiffs or their designee to be used for equitable 

relief, including consumer redress and any attendant expenses for the 

administration of any redress fund. If representatives of the Plaintiffs decide that 

direct redress to consumers is wholly or partially impracticable or money remains 

after redress is completed, the Plaintiffs may apply any remaining money for such 

other equitable relief (including consumer information remedies) as they 

determine to be reasonably related to Defendants' practices alleged in the 

Complaint. The Plaintiffs shall retain authority and sole discretion over the 

division among Plaintiffs of any funds not used for equitable relief. Any money 

paid to the Commission not used for such equitable relief is to be deposited to the 

U.S. Treasury as disgorgement. Any money paid to the State of New York not 

used for equitable relief may be used to the full extent authorized by the State of 

New York's laws, including but not limited to, as payment for the State ofNew 

York's costs of investigating and litigating the instant case. Defendants have no 

right to challenge any actions the Plaintiffs or their representatives may take 

pursuant to this Subsection. 

14 
the occurrences that are the subject of the Complaint. Defendants must provide truthful and 

complete information, evidence, and testimony. Individual Defendants must appear and 

Corporate Defendants must cause Corporate Defendants' officers, employees, representatives, or 

agents to appear for interviews, discovery, hearings, trials, and any other proceedings that a 

Plaintiffs' representative may reasonably request upon 5 days written notice, or other reasonable 

notice, at such places and times as a Plaintiffs' representative may designate, without the service 

of a subpoena. 

IX. 

ORDER ACKNOWLEDGMENTS 

IT IS FURTHER ORDERED that Defendants obtain acknowledgments of receipt of this 

Order: 

A. Each Defendant, within 7 days of entry of this Order, must submit to the 

Commission and the NY AG an acknowledgment of receipt of this Order sworn 

under penalty of perjury. 

B. For 10 years after entry of this Order, each Individual Defendant for any business 

that such Defendant, individually or collectively with any other Defendants, is the 

majority owner or controls directly or indirectly, and each Corporate Defendant 

must deliver a copy of this Order to: (1) all principals, officers, directors, and 

LLC managers and members; (2) all employees, agents, payment processors, and 

15 
delivery must occur before they assume their responsibilities. 

C. From each individual or entity to which a Defendant delivered a copy of this 

Order, that Defendant must obtain, within 30 days, a signed and dated 

acknowledgment of receipt of this Order. 

X. 

COMPLIANCE REPORTING 

IT IS FURTHER ORDERED that Defendants make timely submissions to Plaintiffs: 

A. One year after entry of this Order, each Defendant must submit a compliance 

report, sworn under penalty of perjury: 

1. Each Defendant must: (a) identify the primary physical, postal, and email 

address and telephone number, as designated points of contact, which 

representatives of the Plaintiffs may use to communicate with Defendant; 

(b) identify all of that Defendant's businesses by all of their names, 

telephone numbers, and physical, postal, email, and Internet addresses; ( c) 

describe the activities of each business, including the goods and services 

offered, the means of advertising, marketing, and sales, and the 

involvement of any other Defendant (which Individual Defendant must 

describe if he knows or should know due to his own involvement); ( d) 

describe in detail whether and how that Defendant is in compliance with 

16 
numbers and all physical, postal, email and Internet addresses, including 

all residences; (b) identify all business activities, including any business 

for which such Defendant performs services whether as an employee or 

otherwise and any entity in which such Defendant has any ownership 

interest; and (c) describe in detail such Defendant's involvement in each 

such business, including title, role, responsibilities, participation, 

authority, control, and any ownership. 

B. For 20 years after entry of this Order, each Defendant must submit a compliance 

notice, sworn under penalty of perjury, within 14 days of any change in the 

following: 

1. Each Defendant must report any change in: (a) any designated point of 

contact; or (b) the structure of any Corporate Defendant or any entity that 

Defendant has any ownership interest in or controls directly or indirectly 

that may affect compliance obligations arising under this Order, including: 

creation, merger, sale, or dissolution of the entity or any subsidiary, 

parent, or affiliate that engages in any acts or practices subject to this 

Order. 

2. Additionally, each Individual Defendant must report any change in: (a) 

name, including aliases or fictitious name, or residence address; or (b) title 

17 
entity. 

C. Each Defendant must submit to Plaintiffs notice of the filing of any bankruptcy 

petition, insolvency proceeding, or similar proceeding by or against such 

Defendant within 14 days of its filing. 

D. Any submission to Plaintiffs required by this Order to be sworn under penalty of 

perjury must be true and accurate and comply with 28 U.S.C. § 1746, such as by 

concluding: "I declare under penalty of perjury under the laws of the United 

States of America that the foregoing is true and correct. Executed on: __ " 

and supplying the date, signatory's full name, title (if applicable), and signature. 

E. Unless otherwise directed by a Commission representative in writing, all 

submissions to the Commission pursuant to this Order must be emailed to 

DEbrief@ftc.gov or sent by overnight courier (not the U.S. Postal Service) to: 

Associate Director for Enforcement, Bureau of Consumer Protection, Federal 

Trade Commission, 600 Pennsylvania Avenue NW, Washington, DC 20580. 

The subject line must begin: FTC v. Hylan Asset Management, LLC, et al., 

Xl 80037. Unless otherwise directed by a NY AG representative in writing, all 

submissions to the NY AG pursuant to this Order must be emailed to 

christopher.boyd@ag.ny.gov or sent by overnight courier (not the U.S. Postal 

Service) to: Bureau of Consumer Frauds, New York State Office of the Attorney 

18 
IT IS FURTHER ORDERED that Defendants must create certain records for 20 years 

after entry of the Order, and retain each such record for 5 years. Specifically, each Corporate 

Defendant and Individual Defendant for any business that such Defendant, individually or 

collectively with any other Defendants, is a majority owner or controls directly or indirectly, 

must create and retain the following records: 

A. accounting records showing the revenues from all business activity; 

B. personnel records showing, for each Person providing services, whether as an 

employee or otherwise, that Person's: name; addresses; telephone numbers; job 

title or position; dates of service; and (if applicable) the reason for termination; 

C. records of all consumer complaints and refund requests, whether received directly 

or indirectly, such as through a third party, and any response; 

D. all records necessary to demonstrate full compliance with each provision of this 

Order, including all submissions to Plaintiffs; and 

E. copies of all contracts with payment processors. 

XII. 

COMPLIANCE MONITORING 

IT IS FURTHER ORDERED that, for the purpose of monitoring Defendants' compliance 

with this Order, including the financial representations upon which part of the judgment was 

suspended and any failure to transfer any assets as required by this Order: 

19 
discovery, without further leave of court, using any of the procedures prescribed by 

Federal Rules of Civil Procedure 29, 30 (including telephonic depositions), 31, 33, 34, 

36, 45, and 69. 

B. For matters concerning this Order, the Plaintiffs are authorized to communicate directly 

with each Defendant. Defendants must permit representatives of the Plaintiffs to 

interview any employee or other Person affiliated with any Defendant who has agreed to 

such an interview. The Person interviewed may have counsel present. 

C. The Plaintiffs may use all other lawful means, including posing, through their 

representatives as consumers, suppliers, or other individuals or entities, to Defendants or 

any individual or entity affi liated with Defendants, without the necessity of identification 

or prior notice. Nothing in this Order limits the Commission's lawful use of compulsory 

process, pursuant to Sections 9 and 20 of the FTC Act, 15 U.S.C. §§ 49, 57b-l. 

D. Upon written request from a representative of the Plaintiffs, any consumer reporting 

agency must furnish consumer reports concerning Individual Defendants, pursuant to 

Section 604(1) of the Fair Credit Reporting Act, 15 U.S.C. §1681 b(a)(l). 

20 
purposes of construction, modification, and enforcement of this Order. 

SO STIPULATED AND AGREED: 

FOR PLAINTIFFS: 

,\ ~ rl u 

Ml~~ 

MATI'HEW J. WILSHIR[ 

Federal Trade Commission 

600 Pennsylvania Ave .. N.W. 

\\ashington, D.C. 20580 

Telephone: (202) 326-2976 (Vv ilshire) 

Tekphone: ('.202) 326-3196 (White) 

racsimik: 202-326-3768 

Lmail: In\\ ilshire1@ftc.gov: 

mwhitel r£1 ftc.gov; 

Attorneys for Plaintiff rcderal Trade 

Commission 

21 

LETITIA JAMES 

Attorne) General of the 

State of New York 

" - , -- ~·· _,._I .,. -- "'\___ --

CHRISTOPHCR L. BOYD 

Assistant Attorney General 

350 Main Street. Suite 300A 

Buffalo. Jl.c Y 14202 

Telephone: (716) 853-8-157 

Email: Christophcr.Boyd'a, ag.ny.gov 

Attorney for Plaintiff the People of the 

State of New York 
50 Fountain Plaza 

Buffalo, NY 14202 

Telephone: (716) 853-5100 

Facsimile: (716) 853-5199 

Email: dvacco@lippes.com 

Attorney for Defendants Andrew Shaevel, 

Jon Purizhansky, Hylan Asset 

Management, LLC, Bobalew, LLC, 

Bobalew Management Corporation, 6P, 

LLC, and 6P Management Corporation 

DEFENDANTS: 

lly · , cl as an officer of Hylan 

Asse anag nent, LLC, 6P, LLC, and 6P 

Management Corporation 

22