State Says Company Makes Bogus Refi Pitches

SANTA ANA, Calif. (CN) - Newport Capital Group, of Irvine, is pitching home refinancing through bogus letters "that mislead recipients into thinking that the letters are generated by a governmental agency" and that "induce consumers to contact Newport Capital Group Inc. because consumers may be led to believe that they are entitled to be 'reimbursed' large sums of money," the Orange County District Attorney says. The state seeks fines and an injunction.

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