Student Loan Scam: Colorado Pair Indicted

Colorado Springs residents Jalon Torres, 45, and Lisa Marie Ritter, 32, are facing federal charges after allegedly running a predatory scheme that bilked hundreds of desperate student loan debtors out of over $1 million. The pair are accused of falsely promising debt reduction or elimination through Torres’ company, Student Resolution Center, LLC (SRC), while lining their own pockets.

The indictment alleges Torres, as SRC’s registered agent, spearheaded the operation, cold-calling victims and making promises he couldn’t keep. Victims were convinced to authorize recurring withdrawals from their bank accounts, believing they were making progress on their loans. However, the feds claim Torres routinely exceeded authorized amounts, siphoning off funds for personal use.

According to court documents, SRC raked in over $1 million from its victims between June 2015 and the present. The indictment details how Torres and Ritter allegedly spent the ill-gotten gains on a residence and a luxury vehicle, brazenly flaunting their profits while their victims remained burdened by debt. The FBI, IRS-CI, and the Department of Education Office of Inspector General jointly investigated the case.

Ritter made her initial appearance in federal court in Denver, while Torres was apprehended in Florida. Both defendants are currently awaiting further court proceedings. Federal prosecutors are building a case based on unauthorized withdrawals and the alleged misuse of funds, aiming to hold both individuals accountable for the financial harm inflicted on vulnerable borrowers.

Assistant United States Attorney Rebecca Weber is prosecuting the case. While indicted, Torres and Ritter are presumed innocent until proven guilty beyond a reasonable doubt. The case number is 23-cr-00113-RMR. The feds are urging anyone who believes they may have been a victim of the Student Resolution Center to contact the District of Colorado Main Office for information on how to potentially join the investigation.

This case highlights the ongoing threat of predatory schemes targeting individuals struggling with student loan debt. The feds are sending a clear message: exploiting financial hardship for personal gain will not be tolerated. Grimy Times will continue to follow this case and provide updates as they become available.