Recently contact my a persona, Connie Edwards, claiming to be from "Lycos Investment Group" stating that I had been approved for a $10,000 loan at 7% for 5 years. Call originated from 888-360-9539 x10.
Individual was very pleasant to talk to, though spoke very fast. She explained the terms and conditions of the loand and told me I would have to put up a "collateral payment" of about $1550.00
I decided to entertain the idea, and asked them to fax the contract to me for inspection. I made a few phone calls and did some reaserch and Immediatley I could see several problems:
1. The company letterhead claims that they are in Wisonsin, However their domain is registered through a company in Canada, with no way to verify that they are who they are. They are actually registered through a company that specializes in keeping domain information private.
2. The claim to be an investment group, not a loan company. Apparently the scam is that they are able to secure fund from PEOPLE - investors, for those who are credit challenged.
3. The "customer support representative" slipped up while answering questions about where the "collateral payment" would be made and claimed the headquarters was in Oregon. He assured me that my Western Union Moneygram would be picked up by a courier within the United states (though reading other scam posts, they apparently go to Canada)
4. The loan agreement appears to be sound with only a few exceptions. The names of the CEO's, managers etc. Change on every page. Not a single solitary name is repeated twice. Even the CEO's name changes on the pages. The names found on the pages are as follows:
Desh Lentor - Account Executive
Greg D. Brendon - Account Executive
George Miller - Business Manager
Tim Reyan - Chief Executive Officer
Nancy Kaptur - Financial Manager
Lane Evans - Account Executive
Gary Helder - President
Mary Demeis - Chief Executive officer
Helen Reuremreaue - Financial Manager
5. The wording in the "contract" is very vague and obviously not written by a company the specializes in making loans or finding investory. Nowehere in the contract does it state that I am establishing a relationship with any investor etc...
Needless to say, I have not and will not be sending any money.
If you need more information, do a google search on the 888 number listed above, you will find several "investment groups" using this same number - probably because starting and stopping 800 service is expensive for these scammers.
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