REGULATE THE LEASING INDUSTRY NOW…an urgent messages from LesseeRights.org and the 11,000 Norvergence Victims
To: Senator Chuck Grassley, Chair, and Fellow Members, U.S. Senate Finance Committee
Cc: Michael Fleming, President of the Equipment Leasing Assn.
Re: This is a petition’ purpose whose is to: 1. Call for a boycott of all Leasing Companies who participated in the Norvergence Leasing Fraud scheme until restitution is made to victims and illegal practices stopped; and 2. A Plea to Congress to hold hearings in order to investigate Leasing Company frauds.
We represent over 11,000 small businesses, Girl Scouts, Churches,
charities for illness and affliction, and other government and
not-for-profit agencies across the country. We are the victims
of the largest telecommunications scandal in history. The now
defunct Norvergence and their “lending partners” Leasing
Companies, are suing thousands of us. They want us to keep
paying for services never rendered.
The fundamental Leasing Companies’ scheme: Norvergence’s
services were labeled “equipment.” “Equipment,” that cost only
$200 or $1550, was fraudulently valued by Leasing Companies as
worth between $10,000 to $200,000. If Banks are allowed to
falsely value $200 equipment for $200,000 and then expect small
business victims to pay them for it, then the entire banking
system is at risk of collapse. See report for further details.
Due to Leasing Companies’ actions, we victims of NorVergence are
making a pledge to boycott all of the leasing companies,
including parent companies and subsidiaries, that helped
NorVergence carry out its fraudulent business plan. We will
conduct no personal or commercial business with:
Boycotted Leasing Companies:
ABB Equipment Leasing, Bank One, BB&T, CCL – Commerce Commercial
Leasing, Celtic Bank UT, Cincinnati Financial Corp., CIT
Technology Financing, CitiCapital, Court Square Leasing,
Credential Leasing, Crown Bank Leasing, De Lage Landen, Dolphin
Capital, First Corporation, First Lease, Firstcorp, GE Capital,
IFC Credit Corp., ILC – Information Leasing Corp., Insight
Financial Corp, Interchange Capital NJ, Irwin Business, Lakeland
Bank, Liberty Bank, Madison Capital, National Penn Bank, OFC
Capital/ALFA Financial, Patriot Leasing, Penn Bank Leasing, PFG
Commerical Finance, Popular Leasing, Preferred Capital, Inc.,
Primary Financial Corp. Source One Capital, Sterling National
Bank, Studabaker – Worthington,Toshiba America Info Systems, US
Express Leasing, USBancorp, and Wells Fargo Financial Leasing.
Thus far only TFC Express Leasing has been removed from this
list. They have given full restitution to all of their
We further pledge that we will continue to publicize this
injustice by spreading the word among our fellow colleagues in
our respective industries, and by using all means to disrupt the
possibilities of Leasing Companies continuing the victimization
of others. We have a relentless commitment to bring this matter
to the public, to make use all forms of the press and other
media, and to expose your involvement as part of this fraud.
Small businesses are the backbone of our economy and you are
about to find out just how powerful we are. Until restitution is
made to Norvergence victims and they stop the illegal practices
associated with the Norvergence litigation, Leasing Companies
The list of frauds involved in the Norvergence and Leasing
Company partnerships include bank fraud, accounting fraud,
insurance fraud, property tax fraud, and the evasion fees and
taxes for phone, data and cable service. We urgently request
that the Senate Finance Committee hold hearing to investigate
the frauds perpetuated here both in the context of the
Norvergence case and in unregulated leasing industry practices.