Greenpark Lending: US authorities raise the alarm of scam!
Photo by: Shermeee
FBI, RCMP and other anti-fraud organizations are involved in a loan fraud investigation across US and Canada. Authorities are investigating a fraud after they received several complaints about a lending company named Greenpark alleging an online loan scam. The company had given phone numbers and an address in Sudbury as its location. But it was not present at this address when investigators went calling.
The internet loan scam lured victims by displaying advertisements on TV and on the internet. The scam came public after the company failed to respond to enquiries from customers about the status of their loan application. The online loan scam promised in ads to give away loans at 8.5% interest, repayable in $50 monthly installments.
Greenpark Lending asked for advance installments as collateral!
People responding to the attractive offer were asked to give personal details by the company as a part of processing of their loan request. Unsuspecting people gave away such vital information as their Social Security Number and bank account details to the firm.
A few days later, victims received calls informing that their loans had been approved. But there was a catch: in order to have the loan amount transferred, they would have to pay 5 monthly installments as collateral, upfront. This was due to their low credit profile, it was explained.
Police say, this by itself should have warned victims of the scam. No company asks for collateral payment while giving away loans. Such scams are also known as Advance Fee Loan Scams for this very reason.
The victims were asked to pay using Western Union money transfer. They were told to relay the code number received from Western Union as proof that they had deposited the money. This was important for the fraudsters because this enabled them to withdraw the money from anywhere.
After some time when the victims called again, they were informed of a change in company policy. It now wanted them to submit ten installments instead of five, as collateral.
The third time the victims contacted the company, they were told to submit $1000 as Insurance fees. Then, they went missing…
People with poor credit ratings are particularly at risk of the fraud. They get frustrated after their loan applications are rejected repeatedly by mainstream companies due to their poor ratings. Under such circumstances, such offers seem heaven sent.
The fraudsters are expected to return some time later under a different company name to make more people their victims.
Watch Out!
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These jerks got me for almost $2600. Now, I’ve been contacted by another company called Woodbridge Lending Services that claim almost the same thing.
Funny thing is is that these guys are using the same exact phone service that Greenpark did.
I hope these guys get what they deserve and all of those scammed can get their money back.
April 22nd, 2008 at 3:17 pmThere are many many loan scams out there. I am working with Victims in the United States. I am asking if you have been scammed by any loan scam company to join in our fight to meet the dollar amount we need for the authorities to help us! Please contact me at 248-673-0531. Thanks for helping all of us get the justice we deserve and need! Let’s Get Them!
May 8th, 2008 at 8:42 pmWe were scammed by the same people using the name “Borrow4Tomorrow”. Advance fee scam, $850.00 up front, via Moneygram. The phone # is now out of service and it appears that Greenpark and Borrow4Tomorrow used the same phone numbers etc.
May 10th, 2008 at 8:42 amMy husband fell for this scam 4 times, They were BSM Financial ltd. Royal Lending Group, International Lending, Great Trust Solutions
May 12th, 2008 at 11:50 am