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The owner of an unlicensed debt consolidation company has been sent to prison after defrauding clients of their funds in exchange for his alleged services to reduce their debts.
Javier Antonio Banuelas Urueta (55) was yesterday sentenced to 21 months in federal prison and ordered to pay $115,750 in restitution to his victims, and to three years’ supervised release.
According to court documents, Banuelas, from Vancouver, Washington, together with a co-conspirator, defrauded customers between April 2019 and April 2024 for alleged debt consolidation services through their company, ConsoliDebt Solutions, LLC (ConsoliDebt).
Debt Consolidation Services Advertised on Oregon and Washington Radio Stations
Banuelas placed advertisements on Oregon and Washington radio stations offering debt consolidation services despite having no license to work in the industry or to provide such services. When victims called ConsoliDebt, Banuelas would discuss their finances, create monthly payment plans, and falsely claim to reduce or consolidate the victim’s debt.
Banuelas would then request clients to deposit funds directly into ConsoliDebt bank accounts and to diminish suspicion, would send them falsified monthly statements with detailed account information, payments received, and debt amounts settled.
Used Funds for Personal Expenses
However, court documents state that instead of paying the debts, Banuelas used client funds to pay personal expenses such as car leases, residential rent, and wire transfers.
This case was investigated by Homeland Security Investigations and was prosecuted by Rachel K. Sowray, Special Assistant U.S. Attorney for the District of Oregon.
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