Northpinellas: Agents raid student loan business

Agents raid student loan business

Federal authorities remove boxes of documents but won't say why.

By NICOLE HUTCHESON
Published May 24, 2007

LARGO - Federal agents raided a student loan servicing company here Wednesday, removing box after box of documents under the afternoon sun.

But it was unclear what was at the root of the investigation involving the company, Student Funding Services, 7995 114th Ave. The company is owned by Joseph A. Pursley of New Port Richey, according to state records.

On site Wednesday were agents with the Office of the Inspector General for the Department of Education. Local FBI agents assisted in the effort, said Special Agent Dave Couvertier, spokesman for the federal agency in Tampa. Neither agency would say why the company was under investigation.

A person who answered the phone at Pursley's last known address identified himself as the man's father, but said that Pursley, 51, was not available for comment.

Student Funding Services, a not-for-profit company, was established in 2004, according to state records, and has about 60 employees. The company serves as a middle man to student loan holders looking to consolidate their loans. Last year, the company did $4.6-million in sales, according to federal records.

Just after 4 p.m. Wednesday, a large U-Haul truck was pulled up to the rear of the building, where federal agents loaded boxes of documents from the office's garage area. A few former employees milled about outside.

Terri Still, 42, said she worked for Pursley for three years but said she was fired earlier this year after questioning some of Pursley's business practices.

"It's crazy. We all made sick, legitimate money," said Still, who said she made more than $100,000 last year working at the company. She said she was paid commissions from the loans she consolidated.

"I don't know what clicked in his head, but his persona changed," she said.

Times researcher Lea Iadarola contributed to this report. Nicole Hutcheson can be reached at nhutcheson@sptimes.com or 727 445-4162.

[Last modified May 23, 2007, 20:56:59]

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by to don't say a word	08/31/07 01:00 AM
Wackadoo's, who opened their own student loan biz, while running from IRS. Did the sons, buy you that house yet, Denise?

by pgirl	08/29/07 01:19 PM
It's been over a month since the raid on the office.Has the place been closed down?What happened to all the emps? Any news about JPursley?Curious to know what he's up to.Knew him long ago when he was a nice guy! Amazing how he changed over the years

by don't say a word	08/28/07 10:07 PM
wackadoo that is what terry and denise moore are. They are worse then anyone. crazy, unprofessional , liars and cheaters.

by to pgirl	08/28/07 02:13 PM
Questionable characters, especially those in control of commissions & loans. With yrs of exp, I was not allowed to question borr loan status, or enter Admin to solve problem, if so,threats to be fired. FBI & DOE questioned & entered Admin.

by pgirl	08/28/07 09:41 AM
Reading all the posts, this place sounds like a horrific place to work. Was the money that good that you all stayed and put up with abuse and illegal practices? The industry seems like it is full of questionable characters. Shed some light on this

by to pgirl	08/27/07 08:58 PM
After my departure, other employees encountered abusive outbursts, harassing behavior, their own unpaid monies. Every Agency, DOE,DOL,FBI,IRS has been involved in investigating SFS. Prison? Didn't win with IRS & DOL. Status takes time.

by pgirl	08/27/07 09:28 AM
Does anyone know the status of Joe now? Is prison an option? What is the status of the investigation? It sounds like the business was successful for a while. Did he make a lot of $$$ ?

by to pgirl	08/25/07 03:50 AM
Joe became greedy and he is dishonest owes me $13,000.00 in commissions & said I never paid Cobra, while I hold a cancelled cobra check for $2,100.00. Joe's biggest problem is his greed and his own mouth. I hope he goes to prison with some others.

by More Truth	08/25/07 02:07 AM
Terry Moore & JP, thought they could get away with abusing & harassing independent contractors. Now DOL & IRS has determined everyone were employees". If, any employee felt they were harrassed by ANYONE at SFS, legal remedies may now be possible.

by The Truth	08/25/07 01:43 AM
On July 15,2006, after experiencing another of Terry Moore's abuse. I called 911 to file a report against Moore. I waited for sheriff so I could retrieve my personal items & followed up with a notarized detailed report to sheriff office.

by Joe was warned	08/25/07 01:00 AM
I requested a meeting in June 2006 with Joe Pursley & Terry Moore. At this meeting I advised Joe, that when he was not there in the evening, Terry & Denise would stand in groups, verbally defaming Joe and other employees, causing problems.

by pgirl	08/23/07 01:56 PM
I knew Joe Pursley way long time ago when he was just starting out in business. What the heck happened here?

by karmakid	07/25/07 07:44 PM
NEWS FLASH! NEW LEGISLATION PENDING IN CONGRESS WILL PUT ALL THIRD PARTY CONSOLIDATORS OUT OF BUSINESS - STAY TUNED, THE END IS NEAR. OH, AND THE FBI IS STILL ALIVE AND KICKING - STAY TUNED.

by xaxa	07/25/07 01:59 PM
to move on,...you must have been one of the "upper echelon" of ACFS,..what another nightmare behind the scenes that organization was, same saga different players, your probably still hanging out with all of them. Move On!

by xaxa	07/25/07 01:54 PM
The past will not change, but no employee deserves to get it up the rear when they are working hard to find out later what scam artists were in the main offices, not to mention the borrowers entrusting their personal records,

by SD	07/24/07 06:01 PM
Toby By MeI Totally Agree & they could very well have been notified.I do not have the specifics how it was all done,I was told 2nd hand.But ALL the Borrowers should have been notified in some way of the changes for sure.I would contact Direct Loan.

by Bird	07/24/07 02:03 PM
That little bird said, before Moores planned departure, they made sure the employees they were taking with them, received their money from JP. After IRS receives their money, IRS will laugh, live, forgive and move on. God is Good.

by peace maker	07/23/07 11:31 PM
we have all had our bad exeriences. Learn from them, forgive and move on. The past isnt going to change no matter what happens to JP. Live, laugh and be glad your alive God is Good

by By Me	07/23/07 12:35 PM
When I was at SFS, JP refused to speak to any borrower, in case they wanted to cancel. Now, JP has SOLD, ($$) borrowers apps to One Simple Loan? Did OSL, call EVERY borr about change in servicer/lender PRIOR to processing? Gets better everyday!

by move on	07/23/07 10:03 AM
I just love how people can make the most offensive remarks online when NO truth has been established on the nasty slandering comments. People grow up, go on with you life(or actually get one), because ACFS certainly has!

by xaxa	07/22/07 11:13 PM
One can only hope that all the buffoons who used this federal program to make masses of money end up wearing diapers in a few years after they spend time with the feds, even the drug lords at ACFS,..pass the straw

by One Who Knows Better	07/22/07 02:33 PM
To xaxa! You forgot, wears little girly clothes, hairstyle & has sailor's mouth. Moore's (a match made in heaven) opened their own Student Loan Business, took employees from SFS, hoping to get RICH QUICK. Then, NSLDS went down. TOO FUNNNY!

by By Me	07/22/07 01:11 PM
To Ap! I would contact the Depart of Ed. Tell them the name of the servicer you were told you would get when you signed the application! I hope all borrowers try to file a suit! How sad, needing to buy loans from JP, KNOWN to be under investigation

by By Me	07/22/07 12:41 PM
If, Joe had a thread of Honesty, he would have contacted EVERY Borrower and advised them, he was UNABLE to complete the applications and let them contact the company of their CHOICE! I won't miss a day in Court! Already buying bright color clothing

by By Me	07/22/07 12:30 PM
To SD, Every borrower should have been contacted PRIOR to consolidation, that their servicer or lender would be different than they were orginally advised. More trouble for JP & info to be forwarded. Buy loans from a person under investigation?

by xaxa	07/22/07 12:05 AM
oh and Denise you had a mouth like a sailor too bad those jewels you wore dont make a cheap new yorker any better than her "ethical" husband while you stole and shredded documents from the building before your departure

by By Me	07/22/07 12:03 AM
Insiders: Darrel is too smart to bother with Denise. It appears PRETTY young women, from other countries, and their lives overwhelm you. I remember who made those unkind remarks I heard at SFS. Insider, work on that low self esteem, or get a hobby.

by xaxa	07/21/07 11:58 PM
Most of the ladies were former strippers,..and yes Mr Moore had problems with gambling and not paying taxes for over 10yrs,..eat your own whopper with cheese Denise:)

by xaxa	07/21/07 11:57 PM
cont,..JP-Ning,Vero,Xcaly,..what the hell a regular threes a crowd, the place was a revolving door for idiots to make JP wealthy, he just used people for his own gain, the best Ms JMarble, the paranoid schizophrenic kept because she mass mailed apps

by xaxa	07/21/07 11:54 PM
Denise and Terry Moore ranted and raved throughtout the office behind JPs back about what a bipolar personality he was only to make total buffoons of themselves in their conduct and the way they let everyone in the universe know of their marital woes

by By Me	07/21/07 08:59 PM
Insiders: In this Soap Opera, Denise states she is married to Terry Moore, (Darrel will have to wait) So many decisions, so much to ponder, so few episodes left, does she choose the name Moore, her other name, or both? Fall repeats are not scheduled

by SD	07/21/07 02:51 PM
To ap From what I understand, Joe P. has sold the Borr. Apps. to Paul Simino @ One Simple Loan. Should be processed or in processing by now with either ACS or CFS.

by George	07/21/07 11:46 AM
insider you obviously know nothing about me or history, which means you are a smoke blower. before you making any statements get you facts straight, if you can't then just keep your mouth shut and and don't write crapola.

by By Me	07/20/07 08:46 PM
Hopefully, Denise will marry Darrel, so she can obtain a new last name. Public Record(s) and new Business Record show name(s) used. Documentation that can't be changed,has been forwarded to the proper U.S. Agency. I suggest new running shoes.

by Kelly	07/20/07 07:49 PM
I wish who ever is using my name would STOP. I dont need x-caly for work. I have my own thing going on. Who ever it is speaking gossip about whats going on get your fact straight. George is not hanging around Terry Moore. Such Gossip. SHAME SHAME!!!!