February 16, 2010
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News: Telemarketing Scam Draws In Over $25M
Three swindlers conned over $25 million in just over a year in a massive credit card telemarketing scam. Jason James Eyer, Kara Singleton Adams, and James A. Schoenholz lived the good life while their clients sank further and further into credit card debt. The three operated under a variety of names including Economic Relief Technologies, SafeRide Warranty, VP Marketing as well as others. They contacted customers promising they would save them as much as $4,000 on credit card interest within a very short time period. Victims were told the service fee of $749 to $1,495 would pay for itself within the first 30 to 45 days. The thieves also promised a full refund if the client did not realize at least a $4,000 savings.
Once the crooks were able to get a response on the phone from a victim, the telemarketer would quiz the individual to learn if he had the means to pay the fee. Victims were told there would be no out of pocket expenses to pay and that the fee would be paid out of the thousands of dollars the client would save in credit card interest. However, after immediately signing up the client for the interest rate reduction program, they immediately charged the individual's credit card for the service fee. In most cases, the thieves did not even contact the client's lender and with those they did, negotiations failed to reduce any interest rates.
Federal authorities apprehended Jason Eyer at the Hartsfield-Jackson Atlanta International Airport where he was arrested on multiple credit card fraud charges. Eyer's two conspirators have not yet been apprehended and are suspected of fleeing the country to the Philippines. The extensive telemarketing scam involved victims in over 46 states over a two year time span. The three spent over $20 million derived from the scam on luxury hotels, fine jewelry, gambling, expensive automobiles, and even private tutoring for their children.