Consumer Beware: Advance Fee Loan Company Posing as Out-of-Business Company

May 13, 2010
The BBB recently received information regarding an advance fee loan scam posing as a local out-of-business company. Using the name of Lending Hand Financial or Trigo Lending, located at 4450 Belden Village St., Canton, OH, 44718. This address previously belonged to Lending Hand Financial who has since gone out of business. The phone number showing on victim's caller ID is 416-895-1859. Internet search results show the phone number is located in Toronto, Ontario Canada.

Consumers state they have been offered a loan of $50,000 with the stipulation of sending an advance fee of $1387 in order to receive the loan. The advance fee money is to be wired to Canada. This is fraudulent and illegal activity.

Consumers should not respond to such loan applications and should not send or wire any money for the promise of a loan. If you have wired money and been scammed, the BBB advises you to contact local law enforcement and the Canadian Taskforce Phonebusters at 1-888-495-8501 and provide the details of your experience.