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March 10, 2017


Chicago — Attorney General Lisa Madigan today announced charges against a Cook County man for unauthorized debt collection practices in violation of a 2015 consent decree that banned him from operating a debt collection business in Illinois.

Nelson Macwan, 46, of Glenview, was arraigned today on charges of indirect criminal contempt for wrongfully operating a debt collection business in Illinois. While engaged in the prohibited conduct, Macwan deposited over $1.8 million into his business’ bank accounts. Madigan’s petition seeks to sentence Macwan to prison and order penalties, which could include more than six months in prison and fines of more than $500.

“The defendant continued his unlawful debt collection practices after a court prohibited him from operating as a debt collector,” Madigan said. “His actions are illegal and have harmed people across the country.”

Madigan filed a lawsuit in 2012 against Macwan’s previous company, PN Financial Inc., calling it one of the most egregious cases of illegal debt collection. With over 100 complaints filed by consumers across the country against Macwan’s new company, New Britain Financial LLC, Madigan filed the recent action to sentence Macwan for violations of a 2015 consent decree in the PN Financial case that permanently banned him from operating a debt collection business in Illinois.

Bond was set at $400,000. Macwan’s next court appearance is May 11 before Judge Michael T. Mullen.

The public is reminded that the defendant is presumed innocent until proven guilty in a court of law.

Senior Consumer Counsel Charles Fergus and Assistant Attorneys General Elizabeth Deucher, Andrew Dougherty and Maryanne Mlikotic are handling this case for Madigan’s Consumer Fraud Bureau.


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