Ivan Levy, 54, Boynton Beach, Florida, has been arrested for his alleged involvement in an advance fee loan scheme. Levy was charged with nine counts of collecting advanced fees as a loan broker, six counts of grand theft and three counts of petit theft.
Victims sought to renegotiate or refinance their loans through Levy’s websites, primarily credit-yogi.com or carpaymenthelpcenter.com. Levy purportedly called victims claiming to be a broker and falsely promised refinancing in exchange for an advance fee of $499. None of the victims obtained any financing from Levy. It is alleged Levy collected more than $300,000 from numerous victims who were already under financial duress and fearful of having their property repossessed.
During the course of the multi-agency investigation, the evidence revealed Levy operated under business names such as Regency Financial Services, Levy Fidelity Holdings or Fidelity Holdings. This case is being prosecuted by the Palm Beach County State Attorney’s Office. On January 26, 2015, Levy was also sued by the Federal Trade Commission for his role in this scheme.
The Florida Office of Financial Regulation (OFR) announced the arrest.
“Fighting financial crime is one of the OFR’s highest priorities,” said OFR Commissioner Drew J. Breakspear. “Ensuring Florida’s financial marketplace is a safe place for consumers and businesses means removing bad actors from the financial services industry.”
“I am proud of our investigative team and I thank our partners at the Boynton Beach Police Department who helped apprehend Levy and prevent further damage to the victims in this case,” said OFR Chief of Financial Investigations Robert Kynoch.