BCO Consulting, SLA Consulting SHUT DOWN by the Federal Trade Commission.

Earlier today, @urlaub14 discovered and revealed to us that the Federal Trade Commission (FTC) shut down BCO Consulting Services Inc. and SLA Consulting Services, Inc. for facilitating student loan forgiveness scams as Students Loan Services, LLC and Student Loan Advocates, LLC respectively. These fraudsters have been on our radar since early 2019, but were finally brought to justice.

  • The fraudsters have been caught luring low-income borrowers into paying hundreds of dollars for false “loan forgiveness” by claiming to be affiliated with the United States Dept. of Education, refusing to refund their victims in the process.
  • Both companies are based in California and operated by Gianni Olilang, a former owner and bank singatory for SL Finance, LLC, which the FTC has caught violating federal law and ordered to pay $5,798,946.32 in monetary relief. Other owners named include BCO’s Brandon Clores and Kishan Bhakta and SLA’s Allan Radam.
  • The defendants have been charged with violating the FTC Act (under Deceptive Representations), the Telemarketing Sales Rule (Advance-fee for Debt Relief Services & Material Debt Relief Misrepresentation), and the Gramm-Leach-Bliley Act (Use of False, Fictitious, or Fraudulent Statements to Obtain or Attempt to Obtain Customers’ Customer Information of a Financial Institution).
  • BCO and owners Olilang, Clores and Bhakta have been ordered to pay $5,882,072.04 and is banned from secured and unsecured debt relief products and services, telemarketing, misrepresenting their products and services, making unsubstantiated claims and from obtaining customer information by false pretenses. Charges against CLA and owners Olilang and Radam are pending as the time of writing.
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@OfclyGoodenough Thanks for the shoutout. The telemarketers that transferred inbound leads to this scam company were pervasive. But the moment they realized you weren’t someone they could scam, they’d just hang up and block your CID immediately. It made me more motivated to keep force-conferencing them together because that was the only way I could get them to speak off-script.

I even filed a complaint online with the CFPB back in 2019 but they closed it after 3 days because I personally was not a “customer” of theirs, even though AT THAT TIME it was already public info at very least they were violating the TCPA and were continuing to operate with their California business license revoked.

Moral of the story is that scambaiting is not going away any time soon as long as scammers can continue to steal from people for years on end before slow and incompetent government agencies bust them. Then more operations have already sprung up.

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Funny Kishan Bhakta means devotee of Lord Krishna
https://www.bbb.org/us/ca/placentia/profile/student-loan-services/bco-consulting-services-1126-1000076415

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Call Flood with them about 4.5 years ago:

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Would it be alright if I include these recordings for a future Scambait Sunday episode? (weekly YouTube series highlighting recorded baits from myself and the rest of the community)

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I don’t see why not. As long as I get to know when the new episode is up :+1: For years I’ve thought about making videos with these but I just don’t have the time or creativity. Some of the India-based ones are really funny.

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I plan on starting work on Episode #17 this coming Tuesday (as I will be busy with a celebration of life tomorrow), but the video won’t premiere until March 3 as I upload with a two-week buffer to account for any possible unexpected situations.

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Here’s a link to the video, which premieres on March 3, 2024 at 12:00PM EST. I have grouped your recording with my Lenny call and some amazing baits by @Backalley and @josephnormandgrinnel.

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Sweet! Thanks.

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Cool. Thanks.

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Always a pleasure sir. :pray::heart:

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