Cases / Lending & cash advance
NextStep Financial Services Inc
David J. Hernandez
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- NextStep Financial Services Inc
- Industry
- Purported payday-loan store investments (Check 'n Go)
- How investors were recruited
- Sold "guaranteed investment contracts" in person and through the NextStep Financial website to about 290 investors in at least 12 states
- Pitch & red flags
- Promised "monthly returns of 10 to 16 percent, with no risk of loss to their principal"; said funds were invested in Check 'n Go payday loan stores and insured; falsely claimed a law degree, MBA and 26 years of industry experience.
Pitch phrases from this case
Source
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