DENVER — Colorado Attorney General John Suthers announced today that his office has reached an agreement with Denver-based RMI Associates and its principals, Russell Bryant III and Damon Smith, that bars them from engaging in any operation that offers to help consumers receive restitution or conducts any form of consumer advocacy. The consent decree also requires that RMI Associates, which also did business under the names recovermyinvestment and Daily Deal 360, Inc., pay the state $300,000 in restitution and fines.
The Office of the Attorney General filed a lawsuit against RMI Associates in August 2011 alleging that the company claimed that in exchange for an upfront fee it could help victims recover their losses related to a consumer-protection lawsuit the Colorado Attorney General’s Office and the Federal Trade Commission filed against Westminster-based Dalbey Education Institute, formerly known as American’s Note Network. RMI Associates, a for-profit business, employed former Dalbey Education Institute sales associates during its operations, and one of its co-founders, Smith, worked as a telemarketer for the Dalbey Education Institute. The judge issued a preliminary injunction in September 2011 requiring that RMI Associates refund any fees it has accepted from consumers and cease using deceptive sales techniques.
Consumers who believe they have been defrauded by RMI Associates or any other fraud scheme are encouraged to file a complaint — for free — through the Office of the Attorney General’s Web site at www.coloradoattorneygeneral.gov/complaint. Consumer also can file complaints via 1-800-222-4444.