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STOP Collector Blog From the law firm of Lemberg & Associates

Former Unicredit America President Ordered to Pay $522,000

Back in November 2010, we reported on the Pennsylvania Attorney General’s lawsuit against Unicredit America, which made a company office resemble a courtroom and then brought in unsuspecting consumers for bogus hearings. According to a report in the Erie Times-News, a Pennsylvania judged ordered Michael Covatto, the former president of Unicredit (which went out of business) to pay $522,780. The judge calculated the amount in accordance with the number of complaints received by the Pennsylvania Bureau of Consumer Protection, as well as having Covatto pay half of the costs of the Attorney General’s investigation. Ironically (since debt collectors often file lawsuits against consumers and obtain default judgments), Covatto didn’t defend himself, and the AG obtained a default judgment against him.

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Author
Sergei Lemberg

Sergei Lemberg is the principal at Lemberg & Associates, a consumer law firm that defends consumer rights in the areas of fair debt collection law, fair credit law, and lemon law, among others. He is regularly labeled by the debt collection industry as one of the “most active consumer attorneys” in the U.S.

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