A phone scam in which callers in India posed as debt collectors bilked millions of dollars out of more than 10,000 U.S. residents by using threats of arrest or the loss of their jobs debt relief , U.S. authorities said Tuesday in what they described as a first-of-its-kind investigation.

Callers drew on personal data snatched from payday loan websites, Federal Trade Commission official Steven Baker said. More than 20 million calls may have been placed over the past two years, with collectors demanding between $300 and $2,000 per call.

Such a far-reaching fraud with so many millions of calls flooding in from India is something investigators haven’t seen before and was fostered in part by the plummeting costs of international calls, Baker, the FTC’s Midwest director, said.

While federal authorities seem to have put a halt to this one scam by freezing the assets of a California-based business allegedly involved, Baker said other similar scams are almost certainly up and running.

“We think this is just the tip of the iceberg,” he said.

Authorities have received more than 4,000 complaints about debt-collection schemes in recent years, said Baker. They describe aggressive, foul-mouthed callers, some of whom claimed to be agents of a nonexistent Federal Department of Crime and Prevention.

JanLaree Dejulius, of Las Vegas, was at work at a university office when she got a call from a man who gave his name as Officer Black. He knew one of her relatives had taken out a debt consolidation loan online. If Dejulius didn’t pay up, he said he would send someone to her work to arrest her, she said.

“I said, ‘Yeah, I’ll pay you — whatever it takes (not to get arrested),’” the 57-year-old said at a news conference in Chicago. “I consider myself savvy, but I fell for it.” She eventually agreed to pay $763.

Some callers threatened to call victims’ bosses or sue them. The scare tactics were so effective that in some instances people agreed to pay hundreds of dollars even though they knew that neither they nor any acquaintances had payday debts, said Baker.

From 2010 to 2012, $5 million was paid in 17,000 transactions to accounts controlled by the alleged fraudsters. The targets included people who applied for loans by punching personal details into a payday site but whose applications were rejected, Baker said.

Payday loans are typically small, very short-term loans with extremely high interest rates that are effectively advances on a borrower’s next paycheck. It is often people cash-strapped or living from paycheck to paycheck who use the service, Baker said.

Baker said to guard against scam artists, consumers should demand a written notice with debt amounts and the names of creditors. Debt collectors never have authority to arrest anyone, Baker added.

Asked what advice she’d give to would-be victims if they get a call, Dejulius said they shouldn’t give in.

“Call them on it,” she said. “Call their bluff if you know you haven’t taken out a loan.”

Baker said many questions remain unanswered, including how debt consolidation companies callers obtained such a vast amount of payday-loan information. He said the U.S. government needs help from authorities in India, where it is thought that all of the bogus calls came from.

The FTC charged Villa Park, Calif.-based American Credit Crunchers LLC, Ebeeze, LLC and their owner, Varang K. Thaker, with violating the FTC Act and the Fair Debt Collection Practices Act. No criminal charges have been filed.

Thaker allegedly withdrew thousands of dollars paid by victims that ended up in his company accounts, though Baker said it wasn’t clear if the overall scheme was directed primarily from California or India.

A U.S. district judge in Chicago has issued an order freezing Thaker’s assets.

American Credit Crunchers or Ebeeze in Villa Park, Calif., did not have a current phone listing. There also was no listing for a Varang K. Thaker in the area. Federal court filings did not list an attorney for Thaker.

The Online Lenders Alliance, an industry group for companies that offer loans over the Internet, said it reported complaints about the fraudulent calls to the FTC two years ago and has worked with authorities to stop the scam.

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Greeks greeted uneasily the news that their country will receive a new bailout that will likely protect it from a messy debt default and keep it in the euro currency bloc — but cost households years of economic hardship.

The initial relief created Tuesday by the 17-nation eurozone’s approval of a new euro130 billion ($170 billion) rescue package was offset by a grim reality: Greece faces many more years of sacrifice throujgh debt consolidation loans, on top of a grueling 24 months of austerity measures that have contributed to record high unemployment and a rapidly contracting economy.

“I don’t see (the agreement) with any joy because again we’re being burdened with loans, loans, loans, with no end in sight,” Athens architect Valia Rokou said.

The deal in Brussels gives Greece its second financial lifeline in less than two years — a combined package of foreign loans equivalent to about euro22,000 ($29,000) for every Greek citizen, children included. National debt already amounts to about euro32,000 ($42,300) each.

The hope is that the aid will grant the country the breathing space to enact widespread reforms and set it back on a path to growth.

Greece has been surviving since May 2010 on a first euro110 billion ($146 billion) batch of loans from the eurozone and the International Monetary Fund. That was not enough for the country to pay off its debts, however, and without more help the country faced defaulting on a bond repayment it could not afford next month.

Some in Athens noted that despite the gloomy future, the rescue deals lightened the immediate financial uncertainty looming over the countries debt relief.

“Everyone was depressed … This news gives me great joy,” said Christos Kontogeorgis, a pensioner.

As well as securing another deal with its European partners and the IMF, Greece is hoping to get its private creditors to agree a massive writedown in the holdings of their Greek debt. Banks, pension funds and other private investors are being asked to forgive some euro107 billion ($142 billion) of the total euro206 billion ($273 billion) in devalued Greek government bonds they hold.

Private bondholders will trade their bonds with new ones carrying much longer maturities and lower interest rates — an annual 2 percent by 2015, 3 percent to 2021 and 4.3 percent after that.

“It’s not every day that euro100 billion in public debt is written off, or loans for euro130 billion agreed,” Ta Nea newspaper said in an editorial. “There will be new sacrifices and difficulties, particularly for middle and lower earners. We must hope that this new period will become an opportunity for growth and better prospects.”

The head of the conservative New Democracy party, the junior partner in Greece’s interim coalition government, said the deal buys Greece time and hope of recovery.

“Greece is in pain and the people is suffering, therefore this is no time for jubilation,” Antonis Samaras said during a visit to Cyprus.

Greece is in a fifth year of recession, with the economy forecast to shrink 4.5 percent this year before starting to expand again in 2014 — although by then it will have contracted by more than 17 percent since the beginning of the crisis in 2009. Unemployment is at 21 percent, with one in two workers under 25 out of a job.

Majority Socialist leader George Papandreou urged Greeks “to continue the fight we have started, despite the huge price, and not abandon the effort halfway through.”

Without either aspect of Tuesday’s agreement, Greece would have soon been forced to default on its debts — halting pension and civil servant salary payments. In all likelihood, Greece would have had to leave the common European currency it joined in 2001.

“I feel relieved to start with, because my country has escaped the immediate danger it faced,” said Athens lawyer George Sabalos, 40. “But I’m also troubled by our partners’ demand that the country’s constitution should be modified as part of the guarantees they are seeking, because I believe that is a rather excessive demand that goes against the principle of solidarity.”

Greece has agreed to change its constitution, to give priority to debt servicing payments that will be put directly every quarter into a segregated account.

The country’s unions fiercely oppose further austerity measures that accompany the second bailout, and have called a protest rally outside Parliament in central Athens on Wednesday.

Prime Minister Lucas Papademos has called a cabinet meeting to discuss the additional cutbacks, which will be included in emergency legislation to be tabled later Tuesday. The draft law will force private sector employees to accept further salary cuts as a result of the minimum euro751 ($996) monthly wage being cut by 22 percent, and further cut pensions.

“Workers in our country refuse to accept the barbarity of the tougher neoliberal measures that have been extortionately imposed by our creditors, and that is why they will continue and step up their struggle … to block the destruction of our society,” the main GSEE private sector union said in a statement Monday.

GSEE and its public sector counterpart, the ADEDY, have staged a series of general strikes over the past two years. Many have turned violent, and as Greek lawmakers debated new austerity measures on Feb. 12 extensive rioting saw dozens of businesses in central Athens burnt and looted.

Three workers died in an Athens bank torched by rioters during a protest in May 2010.

Greek stocks opened lower Tuesday, and were 3.5 percent down shortly before closing. However, they’ve been enjoying big gains over recent weeks on the expectation that the bailout would be secured.

Greece is expected to hold national elections in April, after Papademos’ interim coalition fulfills its mandate by securing and implementing the twin bailout and debt relief agreement.

A new poll published Tuesday indicated that Samaras’ conservative party would come first in the vote, but without the majority needed to govern alone. The GPO poll for private Mega TV gave New Democracy 19.4 percent, followed by the Socialists at 13.1, and the new Democratic Left party with 12. The Communist party would get 9.5 percent, followed by the Syriza left coalition at 8.5 and the rightist LAOS — a former member of Papademos’ coalition — with 5.1 percent.

Some 63 percent of respondents said they would rather the elections led to a new coalition government.