SmartBuy bilked soldiers on goods, financing, Cuomo claims

A nationwide network of lenders sold grossly overpriced electronics to members of the military, and then trapped them in illegal financing schemes, according to a complaint by the New York State Attorney General's office.

Andrew Cuomo's lawsuit against SmartBuy Computers and Electronics, and a host of associated companies doing business under various names in New York, Texas, Oklahoma, Colorado, Georgia, North Carolina, California, and Tennessee, alleges the network peddled products marked up 225% to 325% above retail.

All SmartBuy's locations across the country were set up close to military communities and its operations catered specifically to members of the military. According to the investigation, salespeople were trained to specifically seek out people in uniform and with military-style haircuts.