With this sentencing, law enforcement and regulatory agencies are sending a clear message that if the rights of consumers are violated, the offenders can expect serious consequences.
St. Louis (PRWEB) October 01, 2012
The Vehicle Protection Association (VPA), a not-for-profit association promoting regulatory transparency, education and accountability for automotive service contract sellers, applauds the recent sentencing handed down to Cory and Darain Atkinson, former co-owners of auto service contract seller US Fidelis (US District Court, Eastern District of MO: 4:2012-cr-00122).
Cory Atkinson was sentenced to four years in prison on state charges of fraud and stealing, while his brother Darain was sentenced to eight years following similar federal charges.
After US Fidelis filed for bankruptcy in 2010, the Atkinson brothers were indicted and convicted on various charges earlier this year. An agreement approved by the U.S. Bankruptcy Court established a $14 million consumer restitution fund for the company’s former customers (US District Court, Eastern District of MO: 4:2012-cr-00122).
“With this sentencing, law enforcement and regulatory agencies are sending a clear message that if the rights of consumers are violated, the offenders can expect serious consequences,” said Chris Carenza, executive director of the VPA. “This decision turns a page for the entire industry, which has made tremendous strides over the last couple years.”
All VPA members are required to abide by the VPA Standards of Conduct, an ethical code of conduct established to protect the rights of consumers who purchase auto service contracts.
About the Vehicle Protection Association
The Vehicle Protection Association (VPA) is a not-for-profit trade association representing firms that are active in the automotive service contract industry. Members include service contract marketers, administrators, insurers, payment providers and software providers. VPA currently has more than 60 members. The organization is committed to ensuring regulatory compliance among members, educating consumers on their rights, and otherwise ensuring the integrity of the automotive service contract industry. For more information, visit http://www.vpanet.org.