Bond Company to Pay Over $800M for Defrauding Migrants

A Virginia-based company has been ordered to pay more than $800 million in penalties and restitution for fraudulent practices against migrants.

Nexus Services and its subsidiary Libre by Nexus, along with three executives, were found guilty of defrauding migrants by obscuring the true cost of their services.
The company was ordered to pay approximately $231 million in restitution to victims and additional penalties to New York, Virginia, and Massachusetts.
The lawsuit, filed by the attorneys general of New York, Massachusetts, and Virginia alongside the Consumer Financial Protection Bureau, accused the company of requiring clients to wear GPS ankle monitors, which caused injuries in some cases.
The company allegedly targeted Spanish-speaking migrants, making them sign contracts in English they could not fully understand, and threatened legal action for non-payment of fees.
Nexus Services announced its intention to appeal the judgment, claiming a commitment to serving migrants and criticizing the American legal and legislative systems.