FTC Bans Harvest Moon Financial & Gentle Breeze Online From Payday Lending Industry

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The FTC has announced that the owners and operators of an extensive payday pending scheme will be permanently banned from the lending industry under the terms of a settlement. The settlement will also eliminate all outstanding debt, which is comprised entirely of illegal finance charges.

The scheme operated online under several names, including Green Stream Lending, Gentle Breeze Online, and Harvest Moon Financial. The defendants were accused of using deceptive marketing to convince consumers their loans would be repaid in a fixed number of payments.

However, the FTC argued that the company continued drawing millions of dollars from client bank accounts long after the principal and repayment costs were repaid. They continued doing so until consumers closed their bank accounts or found another way to stop the payments.

Under the terms of the settlement, the following individuals and companies will be permanently banned from making loans or extending credit of any kind.

  • Takehisa Naito
  • Keishi Ikeda
  • Lead Express Inc.
  • Camel Coins Inc.
  • Sea Mirror Inc.
  • Naito Corp.
  • Kotobuki Marketing Inc.
  • Ebisu Marketing Inc.
  • Hotei Marketing Inc.
  • Daikoku Marketing Inc.

The settlement involved a $114.3 million monetary judgment that has been partially suspended based on the defendants’ inability to pay. Defendants will turn over all corporate assets and almost all domestic personal assets along with a number of vehicles to the receiver. The receiver will liquidate the business and give all proceeds to the Federal Trade Commission.

The FTC’s case against La Posta Tribal Lending Enterprise will continue. Further details can be found here.

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