Nevada Based Company Accused of Scamming Vets

A disabled military veteran took out a pension loan for $5,500, but was required to pay back more than $40,000, according to a lawsuit filed by Virginia Attorney General Mark Herring. Herring filed the lawsuit against Future Income Payments, and their owner Scott Kohn, accusing the companies of giving out illegal loans that carried interest rates as high as 183% to at least 650 people in Virginia. Herring says “These companies and their owner took advantage of Virginians who earned their pensions through years of dedication to our nation’s armed forces and as civil servants.” Herring says the loans were disguised as pension sales and included language to deceive the veterans. Future Income Payments, which is based in Nevada, has no comment.

Blogs