- 1The podcast recounts how a scammer purporting to offer debt relief harmed small businesses.
- 2Names are changed, but the story is based on true events.
- 3It describes the long shadow the scheme cast over the financial services industry.
A new podcast tells the story of a scammer who posed as a debt relief provider, hurting small businesses and leaving a lasting mark on the financial services industry.
The premise
The episode traces how a person purporting to offer debt relief crushed small business owners and went on to haunt an entire sector. The producers say the names have been changed, but the account is based on true events.
Why it is relevant
Debt relief and debt settlement offers aimed at business owners have drawn growing scrutiny in small business finance, including legislative proposals such as California's AB-1166, which would add disclosure and cancellation rules for settlement firms serving commercial borrowers. A narrative account of one such case gives funders, brokers and merchants a concrete example of how these schemes can play out.
The podcast is available as an audio listen; no further details about its producers or length were provided with the announcement.
Source reporting: deBanked.
