MSE News: Wonga to pay £2.6m after threatening borrowers with fake lawyers

beamerguy

fermi wrote: »

BBC News - Law Society calls for Wonga probe

Thank you Fermi, you dont say much but your links say a thousand words.

The interesting point stated by Wonga
"A spokesman for Wonga told the BBC News website that nobody from the company had been interviewed or had any contact with police since regulators started looking into the case in 2011."

MUST BE QUESTIONED:
Why did not the Police do anything back in 2011, why did the regulator not do anything either ???

THE SMELL OF FISH GETS WORSE ALL OVER THE UK

fermi

BBC News - Police to re-consider Wonga investigation

The City of London Police have confirmed they will re-consider opening a criminal investigation into Wonga.

Previously they had ruled it out, saying the case should be left to the regulator.

But they said now the regulator's investigation had finished they would "be reassessing whether a criminal investigation is now appropriate."

Wonga sent letters from non-existent law firms to customers in arrears between 2008 and 2010.

Earlier on Friday, the Law Society, which represents solicitors in England and Wales, called for an investigation by the Met Police for "dishonest activity" in sending letters from fake lawyers.

The Society said the payday lender's actions could have amounted to blackmail and deception.
Compensation

On Wednesday, the Financial Conduct Authority (FCA) said that Wonga had agreed to pay £2.6m in compensation to about 45,000 customers - an average of about £50 each.

An investigation by the regulator found that Wonga sent letters to customers from fake law firms called "Chainey, D'Amato & Shannon" and "Barker and Lowe Legal Recoveries", sometimes charging customers a fee for these letters.

The plan was to make customers in arrears believe that their outstanding debt had been passed to a law firm, with legal action threatened if the debt was not paid.

The Law Society has now called on police to look at whether the company committed an offence of obtaining pecuniary advantage by deception and blackmail, as well as offences under the Solicitors Act.

A spokesman for Wonga told the BBC News website that nobody from the company had been interviewed or had any contact with police since regulators started looking into the case in 2011.

He said the focus for the company now was to compensate customers who were affected.

Alpine_Star

Aquamania wrote: »

Is it perhaps as reported on ITV news that no impersonation has occurred

Since when have ITV news been an authoritative source of legal opinion?

The Law Society who represent those that actually practice law believes that 3 offences could have been committed:

http://www.lawsociety.org.uk/news/press-releases/law-society-calls-for-criminal-investigation-of-wonga/

Aquamania

Alpine_Star wrote: »

Since when have ITV news been an authoritative source of legal opinion?

The Law Society who represent those that actually practice law believes that 3 offences could have been committed:

http://www.lawsociety.org.uk/news/press-releases/law-society-calls-for-criminal-investigation-of-wonga/

Read my post again

It wasn't the legal opinion of ITV. ITV were just reporting the facts. Please don't shoot the messenger.

The facts were:

The City of London Police said that they have decided not to proceed with a case, because while the letters clearly implied they were from law firms, they made no such direct claim.

It appears they are now revisiting that decision, with something about the fact the regulator has now concluded their involvement in this matter. I can't see how that changes the reason for the initial decision of the police ... but we'll have to wait and see.

City of London Police said in a statement:

In March 2013 the Office of Fair Trading (OFT) met with the City of London Police to consider their (OFT's) investigation into Wonga and whether it should be referred to the National Policing Lead for Fraud.

The interests of the consumer were at the forefront of these discussions and directed the decision that the most appropriate course of action was for the OFT to continue to investigate as regulator focusing on but not limited to the consumer credit act, legal services act, and unfair trading regulations.
Now that the regulator's investigation has concluded and a compensation agreement has been reached with Wonga, the City of London Police will be reassessing whether a criminal investigation is now appropriate.

http://www.itv.com/news/story/2014-06-25/wonga-to-pay-2-6m-compensation-for-misleading-practices/

bigadaj

Alpine_Star wrote: »

Since when have ITV news been an authoritative source of legal opinion?

The Law Society who represent those that actually practice law believes that 3 offences could have been committed:

http://www.lawsociety.org.uk/news/press-releases/law-society-calls-for-criminal-investigation-of-wonga/

Lawyers love the term 'could', nothing committal and encourages continued use of the legal process with consequent high fees for, um, lawyers.

fermi

Example letter courtesy of MSE and Paul Lewis apparently.

fermi

Alpine_Star

bigadaj wrote: »

Lawyers love the term 'could', nothing committal and encourages continued use of the legal process with consequent high fees for, um, lawyers.

Lawyers can only use the term ''could'' as it is not they who give effect to the law.

Alpine_Star

Aquamania wrote: »

Read my post again

Why? Has it changed?

beamerguy

fermi wrote: »

Thanks for displaying those letters.

ILLEGAL
FRAUD
THREATENING
BLACKMAIL
HARASSMENT


What else do the police need to put these monkeys in jail ??:T:rotfl: