Danny Burstein (dannyb@panix.com) Fri, 28 Jan 2005 18:44:37 -0500

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"Attorney General Eliot Spitzer today announced settlements with three additional financial institutions in connection with a widespread telecommunications fraud involving NorVergence, Inc., a bankrupt New Jersey-based telephone equipment and service company. "Under the terms of these newly announced agreements, the financing companies will forgive approximately $186,000 in payments due from New York customers who had signed long-term contracts with NorVergence ... "Currently, 14 other financial institutions are facing impending legal action by the Attorney General in connection with the fraudulent NorVergence telecommunications agreements ... "Notices regarding potential legal actions were also sent by the Attorney General to Thomas Salzano and Peter Salzano as officers of NorVergence, which was declared bankrupt in July 2004 ... [ snippety snip, rest of press release gives the names and details of the not too bad leaseholders and the evil ones ] http://www.oag.state.ny.us/press/2005/jan/jan27a_05.html _____________________________________________________ Knowledge may be power, but communications is the key dannyb@panix.com [to foil spammers, my address has been double rot-13 encoded] [TELECOM Digest Editor's Note: So it would seem that still more of the fraudulent leases Norvergence handed out have been forgiven, and those banks/leasing companies who are going to try brazenly to stick it out to the end, under some bogus 'holder in due course' theory, collecting money they are not entitled to are going to wind geting sued. Business people who took my advice a year ago on this scam, and put a freeze on *all accounts payable* regards Norvergence are coming out ahead in this, several months worth of payments ahead of those who meekly sent in a check to every bill collector who called them. Remember, an agressive debtor is the best debtor. Is anyone still paying a bank somewhere on a Norvergence deal? Probably so, since we know not all business people read TELECOM Digest each day. PAT]

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