PHILADELPHIA (CN) – Your Money Access and its top executives Derrelle Janes and Tarzenea Dixon helped telemarketers defraud consumers of $69 million, illegally siphoning money from bank accounts, deceiving people by mail, telephone and on the Internet, seven states and the Federal Trade Commission claim in Federal Court. The defendants are based in Lake Mary, Fla.
The defendants, based in Lake Mary, Fla., process debit transactions on behalf of its client merchants – the deceptive telemarketers – the seven attorneys general and FTC say. Defendants also do business as YMA Co. LLC, and as Netchex Corp., Universal Payment Solutions, Check Recovery Systems, Nterglobal Payment Systems, and Subscription Services, and also have operated out of Bensalem, Pa.
The defendants, as “third party payments processors,” illegally take money from consumers’ bank accounts, the states and FTC say.
Of the $200 million YMA processed for its clients between June 23, 2004 and March 31, 2006, “more than $69 million were ultimately returned or rejected by consumers or consumers’ banks for various reasons, evidencing the lack of consumer authorization,” the complaint states.
The plaintiffs demand disgorgement, restitution, penalties and an injunction. Plaintiff states are Illinois, Iowa, Nevada, North Carolina, North Dakota, Ohio and Vermont. See complaint.