Jalon Torres, Student Loan Debt Scheme, Colorado 2023

Colorado Springs Resident Indicted in Student Loan Scam

Denver, CO – In a shocking turn of events, a Colorado Springs resident has been indicted for allegedly defrauding hundreds of student loan debtors, earning over $1 million in the process.

Jalon Torres, a 45-year-old Colorado Springs resident, was named as the registered agent for the Student Resolution Center, LLC, also known as the Student Resource Center (SRC). According to the indictment, Torres devised a scheme to defraud student loan debtors by making false promises to induce them to make payments to his company.

Beginning in June 2015, Torres and his accomplices called victims and falsely promised to reduce or eliminate student loan debt for a certain number of payments to the SRC. However, Torres obtained authorization from victims to withdraw payments from their bank accounts, but then withdrew payments in excess of the amounts listed in each contract. The SRC earned more than $1 million from hundreds of victims.

The indictment further alleges that both Torres and his accomplice, Lisa Marie Ritter, used the proceeds for personal gain, including purchasing a residence and a luxury vehicle. Ritter, a 32-year-old Colorado Springs resident, made her initial appearance in Denver before United States Magistrate Judge James P. O’Hara on April 11, 2023.

Torres, on the other hand, was arrested in Florida and is awaiting further proceedings in the United States District Court for the Southern District of Florida. The matter was investigated by the Federal Bureau of Investigation, IRS-CI, and the Department of Education Office of Inspector General. Assistant United States Attorney Rebecca Weber is handling the prosecution.

The charges in the indictment are allegations, and the defendants are presumed innocent until proven guilty beyond a reasonable doubt. The case number is 23-cr-00113-RMR.

Torres faces serious charges, including allegedly defrauding student loan debtors and using the proceeds for personal gain. If convicted, he could face significant prison time and fines.

As the investigation continues, it remains to be seen whether Torres and Ritter will be held accountable for their alleged crimes. One thing is certain, however: the alleged scheme has left hundreds of student loan debtors feeling betrayed and deceived.

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