The Department issues a Final Order to Cease and Desist against Victoria Crabtree.

Atlanta, Georgia – On July 8, 2024, an Order to Cease and Desist (“Order”) issued by the Georgia Department of Banking and Finance (“Department”) to Victoria Crabtree for engaging in activities in violation of the Georgia Installment Loan Act (“GILA”), O.C.G.A. § 7-3-1 et seq., became final.

The Order provided that the Department had evidence that Ms. Crabtree engaged in unlawful activities during the course of her employment with a licensed installment lender.  These activities involved misappropriating funds by taking petty cash from the cash drawer without her employer’s authorization or approval, and making unauthorized loans to customers whereby Ms. Crabtree instructed said customers to cash the checks for their loan proceeds at a nearby liquor store, at which point a portion of said loan proceeds were then unlawfully retained by Ms. Crabtree and/or an individual working in concert with her as part of an unauthorized loan scheme that Ms. Crabtree concealed from her employer.

Pursuant to O.C.G.A. § 7-3-43(d), the Department may revoke the license of an installment lender that employs an individual subject to a final cease and desist order under GILA within the past five (5) years.

 

Contact:

Oscar B. Fears, III

Senior Deputy Commissioner

Phone: (770) 986-1650

E-mail: [email protected]

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