ST. PAUL, Minn. (AP) — State regulators have accused the owner of two Twin Cities collection agencies of using his clients’ money for “personal extravagances” and of operating without a license.
The Minnesota Department of Commerce has placed both businesses into receivership and is seeking to revoke Robert Dunham’s debt collection registration. Civil charges against the 50-year-old Lakeville man include commingling customer funds with money for operating expenses.
Dunham owns Receivables Management Solutions and Wentworth Assets.
The St. Paul Pioneer Press (http://bit.ly/GQwzKS ) says Dunham illegally spent his clients’ money on lavish foreign travel, upscale spa and golf resorts and a Corvette. Phone numbers listed for Dunham’s business and his home in Lakeville are no longer in service.
Information from: St. Paul Pioneer Press, http://www.twincities.com