October 17, 2023 – Parties Stipulate to Permanent Injunctions

Defendants have reached a settlement with the FTC and on October 5, 2023, the parties filed Stipulations to Entry of Stipulated Orders for Permanent Injunction, Monetary Relief, and other Relief.  Thus far, the Court has entered the Permanent Injunction as to Gianni Olilang, Allan Radam, and SLA Consulting Services Inc.  However, the proposed Permanent Injunction as to Brandon Clores, Kishan Bhakta, and BCO Consulting Services, Inc. is still pending.  See the Documents section of this webpage.

The terms of the Permanent Injunctions ban Defendants from working in any business involving secured or unsecured debt relief products or services and assigned monetary judgments to the individual Defendants.

The Receiver anticipates wrapping up his outstanding tasks and applying to the Court for discharge.  At which time, any remaining funds he has marshaled will be turned over to the FTC.

May 22, 2023 – Preliminary Injunction Entered Against All Defendants

On May 22, 2023, the Court issued an Order Entering Stipulated Preliminary Injunction as to all defendants.  This Order continued the asset freeze and the appointment of a receiver.  All operations have been terminated.  See the Documents section of this webpage for a copy of the Stipulated Preliminary Injunction.

The Federal Trade Commission will continue its lawsuit against the Defendants.

Refunds?  We are often asked if there will be refunds to consumers.  If the Federal Trade Commission prevails in the lawsuit, the matter of refunds for customers will be an issue for the FTC and the Court to resolve and that may be a long way off.  We do not have any better information than that.

May 9, 2023 – Notice to All Clients Regarding Student Debt Relief Assistance

BCO Consulting Services Inc., also doing business as Students Loan Services LLC

SLA Consulting Services Inc., formerly known as Student Loan Advocates LLC

The companies listed above have been sued by the Federal Trade Commission for deceptive and unlawful practices.

The principals of these companies are also named as Defendants in the lawsuit.  They include Gianni Olilang, Brandon Clores, Kishan Bhakta, and Allan Radam.

The FTC’s lawsuit was filed on April 24, 2023, and names as Defendants the companies and their principals.  The Court entered a Temporary Restraining Order (“TRO”) on May 3, 2023, which prohibits any further unlawful conduct and appoints a Temporary Receiver to take possession and control of the business.  The Temporary Receiver has suspended operations and is now conducting a review of the business.  Copies of the FTC’s Complaint and TRO can be found in the Documents section of this webpage.

On May 16, 2023, the Court will hold a hearing to determine whether a Preliminary Injunction should be entered.  A Preliminary Injunction would extend the restrictions in the TRO until there is a trial of the case.

A1 Consulting Services LLC of Las Vegas, NV

Based on a preliminary investigation, the Receiver has determined that A1 Consulting Services LLC of Las Vegas, Nevada, which is owned and controlled by Defendant Brandon Clores and is also involved in student loan debt relief, qualifies as a Receivership Entity and is subject to the TRO.  A1 Consulting’s operations have been temporarily suspended until the Preliminary Injunction hearing.

Xcel Consulting Services, Inc. of Anaheim, CA

Based on a preliminary investigation, the Receiver has determined that Xcel Consulting Services, Inc. of Anaheim, California, which is owned and controlled by Defendant Gianni Olilang and is also involved in student loan debt relief, qualifies as a Receivership Entity and is subject to the TRO.  Xcel Consulting’s operations have been temporarily suspended until the Preliminary Injunction hearing.

We recommend that you immediately contact your student loan servicer to confirm the status of your loan and that no third party is authorized to represent you in connection with your student loan account.  A list of approved student loan servicers can be found on the U.S. Department of Education website at:  https://studentaid.gov/manage-loans/repayment/servicers.

At least until the date of the Preliminary Injunction hearing on May 16, 2023, these companies’ operations will remain suspended.  We will post periodic updates to this website.  If you have additional questions, please send them to info@regulatoryresolutions.com and reference the company involved.