ST. PAUL, Minn. – A Hennepin County court ordered Virginia-based tax debt settlement company Wall & Associates, Inc. and its owner and CEO to refund hundreds of Minnesotans more than $2.7 million in fees after defrauding them into signing up for its services.
In addition to full refunds for 224 Minnesotans, the court ordered defendants to pay civil penalties to the state of more than $1.4 million for the defendants’ conduct, including ordering Wall’s owner, Ken Wall, to pay $415,500 and Wall’s CEO, Mark Yates, to pay $207,750.
The order follows a ruling from last fall, which found Wall liable for falsely representing that it was a local law firm that settled its average client’s tax debt for 10% of what they owed. Many consumers testified that this was key to their decision to hire Wall. In truth, most Minnesota consumers paid more in fees than they received in tax reduction.
The court also found Wall’s owner and CEO were personally liable for their involvement in the scheme. In addition to restitution and civil penalties, the court entered an injunction that requires the Defendants to permanently stop their deceptive practices in Minnesota.
The court also granted the Attorney General’s request for attorneys’ fees and costs, which will be determined later.
Comments