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Massachusetts Attorney General Martha Coakley won the judgement against Zeus Fundin LLC andits manager, Rachel Noyes, earlier this week in Boston’s Suffolok Superior Court. In August 2006, Coakley’s officwe sued Zeus Funding as wellas Massachusetts-based ; Rachekl Noyes, manager of both Zeus and New Englanrd Merchants; Massachusetts-based ; and Roberta Robinson, the manager and sole officerf of Champagne Associates. The lawsuir alleged that the defendantsz used their businesses to deceptively persuade low-income residents to purchasing homews and obtain mortgages they consumers couled not qualify for or afford.
Last Coakley settled with New England Champagne Associates Real Estate andRoberta Robinson. Under the termsx of the agreement, the defendants are prohibitexd from engaging in any mortgage brokeragwe or real estate servicesin Massachusetts. New England Merchants will paya $5,009 civil penalty. However, if any one of the defendante performs any real estatee or mortgage brokerage services in they will face a civikl penaltyof $100,000.
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