Man charged with operating illegal debt collection business

A north suburban man has been charged with operating an illegal debt collection business in violation of a 2015 court order.

Nelson Macwan, 46, of Glenview was arraigned Friday on charges of indirect criminal contempt for operating a debt collection business in Illinois, according to a statement from Attorney General Lisa Madigan’s office. Madigan had filed a lawsuit in 2012 against Macwan’s previous company, PN Financial Inc.

That suit accused Macwan of illegal debt collection and resulted in a 2015 consent decree that permanently banned him from operating a debt collection business in the state, the attorney general’s office said.

Since then, there have been more than 100 complaints filed by consumers nationwide against Macwan’s new company, New Britain Financial LLC, prosecutors said. While engaged in “prohibited conduct,” he allegedly deposited more than $1.8 million into his company’s bank accounts.

Madigan is seeking a sentence of at least six months in prison and a fine of more than $500, prosecutors said. Macwan’s bond was set at $400,000 and his next court date was scheduled for May 11 before Cook County Circuit Court Judge Michael T. Mullen.