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AG: Car Loan Brokers Ripped Off Hundreds In Mohawk Valley

Utica, NY (WIBX) – If you’ve had any dealings with One Source Networking out of Auburn, the Attorney General’s Utica Region Office would like to speak to you.

A lawsuit is being filed tomorrow against the loan brokering company for allegedly taking advantage of hundreds of Mohawk Valley residents, and possibly thousands statewide, according to Attorney General Eric Schneiderman, who was in Utica today to make the announcement.

He’s accusing One Source Networking of using deceptive business practices. The company told customers they were required to purchase an extended warrant on their car loans, Schneiderman said. But, the attorney general says there is no such requirement, and says customers were charged between $,2000-$2,500 for the warranties, which is much more than they actually cost.

“Whenever people are desperate, they make easier victims”, Scheiderman said. “This a situation where they were often dealing with people whose cars had broken down, had low credit ratings, and didn’t have the luxury of going to a bank or a credit union — folks who just needed a car and needed to take whaterver loan was available. They took advantage of these peoples’ desperation.”

The case is being handled by Assistant Attorney General Joel Marmelstein, of the Utica office. The investigation was handled by Marmelstein and Investigator Joseph Kelly.

You can contact the Attorney General’s Utica Regional Office at 315-793-2225.

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