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NJ Freezes Paving Company’s Arkansas Assets

New Jersey officials have stopped a paving company that owes $17 million for defrauding customers from obtaining cash raised through an Arkansas auction.

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New Jersey’s attorney general and Consumer Affairs Division obtained a 60-day asset freeze against Williams Asphalt Materials, LLC, so proceeds from a planned company auction in Jonesboro, Ark., could be secured for New Jersey consumers.

A court last December found the south Jersey company committed more than 1,600 violations against consumers. These included bait-and-switch pricing, false statements and failure to honor guarantees or warranties.

The company was ordered to pay $17 million in civil penalties, consumer restitution, attorneys’ fees and investigative costs for defrauding customers.

 

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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