Tuesday, April 6, 2010

Blumenthal announces claim letters sent to F & S customers

Attorney General Richard Blumenthal announced today that claim letters have been sent to almost 10,000 F & S Oil customers and creditors who may be eligible for a share of about $1 million in restitution secured by his office.

The restitution is to compensate consumers for oil and services they paid for but never received after F & S abruptly ceased operations in 2008.

Claims administrator, The Garden City Group out of Seattle, Washington sent the letters, which include information on applying for restitution, last Friday. They should begin arriving in mailboxes this week.

For more information on the restitution program visit the website www.fsoilsettlement.com.

The Garden City Group will distribute checks as soon as possible to F & S customers literally left in the cold by the company's sudden closure. Blumenthal's office will work with Garden City Group to assure that consumers receive compensation fairly, quickly and efficiently.

Consumers will have until May 3, 2010 to return applications for restitution mailed to them. F & S customers who suffered a personal, household or family loss will be eligible for restitution. The amount each claimant receives will be determined by the claims administrator and the Attorney General's Office, depending in part on how many claims are received.

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Friday, March 19, 2010

Attorney General wins $230,000 judgement

Attorney General Richard Blumenthal has won a judgment compelling a Hartford loan company owner to pa $230,150 in restitution and penalties for allegedly taking money and failing to provide promised loans and services.

The settlement bans Michael Petriccione from the commerical loan business in Connecticut and obligates him to pay $165,150 in restitution to thirteen consumers and $65,000 in penalties.

Petriccione used phony endorsements from prominent individuals to entice consumers into doing business with is companies.

Blumnethal sued Petriccione and his two companies, Mediations, Inc. and Innovations NE, LLC in April 2008 for allegedly collecting $165,000 in deposits and upfront fees, but never delivered the loans or services.

The judgment empowers Blumenthal's office to seek seizure of property and other assets that Pettriccione has or may acquire in the future.

Through his companies, Pettriccione claimed to provide investment loans of $100,000 to $700 million and "mediation services." His companies also claimed to have legal and "placement" skills, and Petriccione represented that he was a Connecticut attorney. He is not licensed to practice law in CT.

Pettriccione is currently in jail awaiting trial on separate larceny charges stemming from the case.

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