The Federal Trade Commission has closed the book on its case against a Nevada-based student loan debt relief operation, announcing a settlement that permanently bans Dennise Merdjanian from the debt relief industry and from telemarketing while imposing a monetary judgment of $45.9 million, nearly all of it suspended based on her inability to pay.
The order, entered by Judge Gloria M. Navarro of the District Court for the District of Nevada, resolves the FTC’s claims against the last remaining defendant in its case against Superior Servicing LLC and a web of affiliated companies. The Commission alleged the operation impersonated the U.S. Department of Education, falsely promised loan forgiveness, and collected more than $45.9 million from student loan borrowers in violation of the FTC Act, the Telemarketing Sales Rule, the Gramm-Leach-Bliley Act, and the FTC’s Impersonation Rule.
The case is another marker of how aggressively the FTC is deploying its newer enforcement tools, particularly the Impersonation Rule, which took effect in 2024, against companies that misrepresent government affiliation in connection with consumer debt.
Under the terms of the order, Merdjanian must pay $184,731.71, which her counsel already holds in escrow, and surrender assets including funds in multiple Chase bank accounts tied to the corporate defendants and a 2022 Tesla Model Y. The remainder of the $45.9 million judgment is suspended, but becomes immediately due, plus interest, if the Commission determines she misrepresented her finances in sworn statements. The order also bars her from misrepresenting any affiliation with government entities, prohibits her from using or benefiting from customer information collected by the operation, and subjects her to 20 years of compliance reporting obligations.
The settlement follows a familiar arc. The FTC sued Superior Servicing and Merdjanian in November 2024, winning a temporary restraining order and asset freeze. An amended complaint added co-defendants Eric Caldwell and David Hernandez, who were hit with their own industry bans in September 2025. A court-appointed receiver, Krista Freitag, will continue liquidating the assets of the receivership entities, with proceeds flowing to the Commission for consumer redress.
