The feds have arrested Houstonian Jeffrey O'Neil and his son Nathaniel (a.k.a. Nathaniel Chilo) for what they say was a nationwide scam which involved convincing people to send them money to settle their debts via a Senate banking committee and other very unlikely avenues.
The two defrauded investors of $617,000 over five years ending last September, the U.S. Attorney's Office says. They operated companies called J. O'Neil/Associates Inc., World Outlook, World Outlook Management and Universal Restoration, none of which were licensed.
They told clients "that debt relief would be obtained through the Federal Trade Commission, the Senate Banking Committee, the Office of the Comptroller of the Currency (OCC), through injunctive action, and through a program called the 'Debt Reconciliation Program' or "Debt Relief Program,' referred to as 'DRP'," the USAO says.
The elder O'Neil said he worked with the Financial Crisis Inquiry Commission; he then created a company with the same initials, the Fair Credit Investigation Company.
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"The O'Neils allegedly caused individuals throughout the United States to send checks payable to the FCIC to an address in Houston, to obtain credit card debt relief," the USAO says. Instead the pair just spent the money happily.
O'Neil was heavily connected and influential in Washington. If you believe his e-mails. The feds say they included messages to clients that included "an altered speech by Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System, which falsely include[d] statements about a debt reconciliation proposal sponsored by World Outlook Management as well as a fraudulent calendar for the Judiciary Committee of U.S. House of Representatives."
This ripoffreport.com item has other allegations of the way they did business.
They are charged with six counts of mail fraud and four counts of wire fraud, and each count carries a maximum 20-year sentence.