For Immediate Release:
HOUSEWIFE SUES WELLS FARGO ON RICO, SHAMES ATTORNEY IN COURT
By Jeff Sedgwick, voidjudgements.net, July 14, 2007
(RICO - Racketeer Influenced and Corrupt Organizations Act)
The Debt Collection Industry is simply a multi-billion dollar racket run throughout the country.
Just as a photocopy of a $100 bill is evidence of a $100 bill, it is not the actual Federal Reserve
note -- it’s a copy. It doesn't spend. Yet, debt collectors are collecting billions on photocopies of
alleged debt. That is, evidence of alleged debt, not the debt.
The evidence of alleged debt is being sold for and purchased for pennies on the dollar, while debt
collectors/attorneys are collecting on the full face value plus penalties and attorney fees.
There have been numerous occasions where 2, 3, and even 4 debt collectors have had
photocopies of the same alleged debt and were all trying to collect on the same, at the same time.
How many times does one owe on the same alleged debt -- if at all?
The Courts have been rubber stamping these transactions for so long that they have become
accustomed to being a rubber stamp - a custom that is at its best, difficult to overcome. The
Courts don't like having to actually consider the facts and evidence; it is so much easier for them
to hand out your money than to behave according to their own rules of procedure and evidence.
The Courts want you to prove a negative - that you don't owe. While refusing to require the
Plaintiff to prove the charges brought against you. Does the word "kangaroo" come to mind?
Recently, a housewife in Colorado had gotten totally fed up. She sued Wells Fargo Bank for their
participation in this racket. What happens most often is that a bank or credit card company will
bundle defaulted accounts and sell them on the debt wholesale market. This is after they have
written them off on their corporate taxes and collected the bad debt insurance. Then they destroy
all of their records so they ca