Andrew Shaevel, Company is One Defendant in This Lawsuit

July 13, 2018
A.G. Underwood Announces Joint Lawsuit With Federal Trade Commission to Shut Down Phantom Debt Collection Scheme

Andrew Shaevel

Buffalo-Area Companies Allegedly Distributed and Collected On Debts Consumers Did Not Owe

BUFFALO – Attorney General Barbara D. Underwood today announced a joint lawsuit with the Federal Trade Commission (FTC) to stop the collection and distribution of “phantom debts” that consumers do not actually owe. The complaint alleges that Hylan Asset Management, LLC and its owner Andrew Shaevel, and Worldwide Processing Group, LLC and its owner Frank Ungaro Jr. violated New York State’s fair debt collection statute and laws prohibiting deceptive acts and practices, as well as the FTC Act. It also alleges that certain defendants violated the Fair Debt Collection Practices Act. The lawsuit seeks to permanently stop this illegal conduct and to obtain money to provide refunds to consumers.

“It’s unconscionable to collect on fake debts that consumers don’t actually owe in order to make a quick buck,” said Attorney General Underwood. “We’ll continue to work with our partners in government to hold these phantom debt collectors accountable.”

According to the complaint, Hylan and its owner, Andrew Shaevel, knew that certain debt portfolios the company owned contained fake debts that consumers did not owe. Shaevel received these purported debts from Joel Tucker and Hirsh Mohindra – known peddlers of phantom debt. Even though they knew the debts were fake, Hylan and Shaevel nonetheless allegedly placed these fraudulent debts with collection companies, who in turn illegally pursued consumers for payments.
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Comment from J. Tricoli: Andrew Shaevel was the agent working for the Mench group who owned the Westwood Project.

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