The two principal owners of Rincon Debt Management, Jason R. Begley and Wayne W. Lunsford, will surrender more than $3.3 million worth of assets that will be used to provide refunds to victims, under a settlement with the Federal Trade Commission. The two defendants also are permanently banned from the debt collection business.

Litigation continues against several companies that Begley and Lunsford used as part of their debt collection scheme. The Corona, Calif.-based operation collected debts nationwide.

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