Stanford Financial Group - Loan Scam

[Jen37]

I cannot let this go no matter how hard I try. Isn't there anyone that we can turn to for help? These same people are operating under different company names and scamming innocent people out of hundreds and sometimes thousands of dollars. I understand that it may not be a lot of money per individual case but when we look at all of the people who have been scammed we see that they are making tens of thousands of dollars.

I just don't understand why no one appears to be doing anything. I have filed all of my reports and contacted the authorities but no one seems to be taking this seriously. I feel as though I'm spinning my wheels at this point. Is anyone reading our reports? Is anyone listening to what is happening? Why won't anyone do anything? It seems that they would at least trace phone numbers or set up a trap.

I'm so frusterated at this point and the more I read reports specifically related to loan scams on www.ripoffreport.com as well as the reports posted here on Fraud Watchers the more upset and helpless I become.

[Nyla]

I wish I could offer better news, but you really need to understand the complexity of international law and jurisdictions, plus allocation of limited resources. When someone within the same country as the victim commits a crime, things are relatively uncomplicated. The same law enforcement (or at least two law enforcement entities that are already friendly, cooperative and operating under a compatible set of laws) handles the case on both ends. Even then, expect your typical criminal investigation to take a few months before an arrest is even considered.

You were scammed by people in another country, using a service that is essentially untraceable. In fact, there might even be two other countries involved, Canada and Singapore? Canada might be very cooperative, but unless Singapore authorities actually care to commit the (admittedly considerable) resources to pursuing criminals who, to their view, aren't even committing a crime against one of their own citizens, there's no point in pursuing it. Your local authorities can't make Singapore authorities care or act. They can't make them commit resources and money. From their point of view, they may consider it a waste of already stretched resources to arrest and incarcerate a criminal, on their own dime, on behalf of someone who doesn't live in the country, pay taxes or even contribute directly to their economy.

Your own authorities may not even be able to justify committing the hundreds of hours and tens of thousands of dollars it requires to do a proper international investigation, especially if they know their limited resources could be put to better use on other cases with a higher potential for successful arrests and convictions. That decision might have to be made even if they know Singapore would be willing to pursue the case and be very cooperative.

I haven't had much experience with Singapore authorities, though they have a reputation of being very tough on scammers actually operating in their country. I'm not sure how much they cooperate with external police agencies, but they do seem to pursue their own cases rigorously. But in some West African countries, police happily accept bribes to keep scammers who operate openly in business. They've even been known to side with scammers against web cafe owners who want to put them out. Contrary to popular belief, there is no "international police force" and very little "international law". Interpol has no police powers, they only help coordinate efforts between various police forces.

And the above assumes that the people who registered the website actually told the truth about being located in Singapore. Just because the website registration says that, it doesn't make it so. If the domain registration has false information, it would require some legal documents to get records from the registrar. Even then, there's no guarantee any of the information is truly traceable. If they paid for the registration with a stolen credit card and used all false details, that information leads more or less nowhere.

You sent the money by Moneygram. Moneygram does not, in any way, actually confirm the identity of the receiver. They make it pretty plain that they are a service intended for sending money to people you know, not strangers. It's a cash transaction with zero witnesses. These scammers are constantly changing false identities, stories and tactics.

You're also being unrealistic in your expectations of the time frame involved. Your local authorities haven't had anything like enough time to build a case, even if there were mountains of readily available evidence and the suspect were next door. Catching internet scammers isn't as easy as an episode of Law and Order where everything is neatly wrapped up in an hour. You sent the money a very few weeks ago. I work in the information technology field, so I know a bit about computers. While it would be nice if you really could trace an IP to a street address in five minutes like they do on television, that is not realistic. In reality, it often takes many hours of work, lots of server logs and cooperation, plus some luck. If that IP proves to be in a public web cafe where fifty scammers regularly run dozens of types of scams and there are no security cameras, good luck identifying the culprit. It's also pretty easy to get an anonymous, prepaid cell or toll free number, or a forwarding number. I can easily walk into a local store and pick up a Tracfone and register it with fake details and pay in cash. VOIP, or internet-based telephony, mean I can sit nearly anywhere in the world and show a 'local' number when I phone.

I wish it were otherwise, but believe me, we know the frustration. We also, unfortunately, know about limited resources. We're all volunteers here. We don't get funding. The owner of the site is generously putting up money out of his own pocket and free time to make this site happen. You can't really blame the authorities for wishing to spend their limited resources where they actually see some return on investment and have a definite impact in their own backyard. Police, I'm sure, just like us, wish they had the infinite resources to completely pursue every case.

If you want quick return on effort, you're already doing something that offers that. You're sharing the details of what happened to you in a forum where others can see it if they come looking. You may prevent countless others from losing money to the same scam. To increase that effect, warn people you encounter in your day to day life. Talk to your friends, relatives, coworkers, even the local media, if you're willing. Not just about this kind of scam, but all scams. Point them to good resources they can use before they lose money. A warning from you is going to be worth a great deal more than non-specific warnings. Call or write your local newspaper. Call or write your local television station, your local consumer affairs reporter, your local radio station. Speak out. The more people that are afraid or reluctant or embarrassed to speak out, the less light gets shone on these scams. Scammers thrive on people being ignorant of their tactics.

You can also, if there was a Candadian aspect to the crime, report to http://www.recol.ca/ and http://www.phonebusters.com , but again, this is not a situation that is going to be resolved in a couple of weeks, if it is ever resolved. I'm afraid arrests in internet fraud are relatively rare. They tend to happen in unusual cases where the scammers are unusually careless or there are huge amounts of money involved. Yes, every report made increases the chances that someone, somewhere, with control over the purse strings, thinks it's worth spending time to investigate. Until that happens, warning as many potential victims as possible hits the scammers where they live. The wallet.

You can't really do anything to make the authorities move or move faster. What you can do, right now, is prevent a friend or neighbor or someone listening to the local news from making the same mistake. And that can be very, very empowering.

[Jen37]

Thank you providing such a thorough review of the logistics involved as I am obviously not familiar with the laws or the complex nature of these computer crimes. It's definitely not as simplistic as what one views on television programs such as 'Law and Order' or '24'. Moreover, my sense of urgency stems from my fear that these criminals and their websites will disappear now that the holidays are officially over.

According to the person with whom I spoke from Money Gram, and I am not sure this is true, but I was told that a subpeona could be issued for the purpose of finding at least where the money was retrieved.

This the most embarrassing thing that has ever happened to me but I still continue to tell people. Most people have been appalled stating, "I thought you were smart". Others ask, "You have a M.A. degree and didn't know about these scams?" or "Who gives money for a loan?". I don't know. I did. I've also never tried to get a loan other than for schooling and a car. Again, as stated in previous posts, I also thought Lending Tree, LLC was a safe place to apply for a loan.

I am still trying to reach the local detective from Financial Crimes that has been assigned to my case. I will find out more once we actually connect. He will probably provide many of the same facts that you have shared. In addition, I have contacted the Canadian authorities and have yet to contact the Singapore site should they care to know that www.avenuefinancial.net is a scam. I completely understand that this becomes very complex since the money was wired to Canada. We don't know for certain, however, whether some of the individuals are in fact working within the U.S. What I do know and witnessed earlier today while shopping at Walmart is that if a teenager steals a pack of gum that 5 cops in 5 cop cars will be there ready to make an arrest.

I will fight for victims of computer fraud for the rest of my life.

[marsie24]

I will do anything and everything to stop this unfortunate thing from happening to others. I am out almost $3000 because I trusted this source. They told me to expect my refund on December 29th, 2008 and lo and behold, the number I had for them is now disconnected. I couldn't afford to be out the $3000 before and now I am really out!!! Any advice or lawsuit we can join against these terrible people? I cannot believe people actually have nothing better to do than scam people out of their hard earned money. I am so very upset!

[sadye]

Things have not always been easy for me...... I am a single mom of two. So when I applied for a loan to help out, I was elated when Michael Price said I had been approved. I was a little hesitant about paying something up front, but he reassured me, I asked if I could show it to an attorney and he told me to go ahead. So I came up with the money. Like in other reports Dennis Weaver called me that day and I needed to come up with another sum of money. Then I received a phone call from David Oliver, that day I was to get the loan and the lender backed out. I was crushed. He said that I could either get a refund which would take 30 days since the lenders billing cycle had just passed or he found another lender that would lend me the money, but I would have to come up with more money, since it was twice the amount I was asking for originally.

I just had been laid off from my job, so I didn't have that kind of money. I had to come up with a good chunk of money, which my parents would help with. They couldn't afford it either, but they did. I was hesitant because the phone calls from the company had become sporadic, and when ever I tried to call no one answered. Leaving messages didn't help. Then came when all I got was the goodbye message. Then I couldn't pull up their website. So anyone with any help. My children did not get much for Christmas this year, and that kills me. I want to get these guys, make them pay. Yes karma will get them in the long run, but I want to make sure I help push it a bit.

Sadye
Nebraska

[Jen37]

Sadie and Marsie,

Please make sure to write a thorough review documenting where you applied for your loan (i.e. Lending Tree, LLC, Prime Lending, etc.), when you were intitally contacted, who contacted you, the name of the company, their phone numbrs, and details of their every move. Please make sure to save all of your paperwork including contract, receipts, etc. Also please report this to your local authorities immediately, local FBI, local Secret Service, as well as all government agencies including the FBI and Secret Service. In addition, if you sent money using Money Gram contact them as well! If you sent your money to Canada, please contact Phone Busters as they are one of the only organizations in Canada that I am aware who handle these kinds of crimes. Moreover, please file a report through ripoffreport.com, and you will see that there are many, many victims.

If you have any questions, please feel free to send me a PM, and I will do everything and anything that I can to help.

I'm really sorry that this happened to you too. This is a terrible, shameful crime that these individuals are committing against hundreds of innocent victims and they need to be punished to the fullest extent possible.

[ModaFQ]

Sadie and Marsie, you both have PMs

[cherry]

Hello-
I just want to let you know that I was also scammed by a company that uses the name Stanford Financial Group located in Charleston South Carolina. First a man by the name of Jamie Foster contacted me telling me that I was approved for a loan in the amount of $5000.00. I returned his call and I was a little worried about the whole situation but he made it seem like everything was good and everything was legit. He told me that I was approved for the loan with a small percentage rate of 6% and monthly payments of $117.26 for 48months. Of course I had to secure the amount which was like insurance in the amount of $820.82 sent to the company money gram through wal-mart to a lady in Canada. Jamie sent me all of the paper work through fax and I had to review it and sign it like I said everything looked legit because it was from a company. The next day a man by the name of Denise Weaver calls me from customer service to let me know that they had a problem with my loan due to my credit they needed another security payment of an additional $820.82 and promised me the money in my account the next business day before 5p.m. Well the next morning David Oliver called me stating the he was the CEO of the company and that he is sorry to tell me but the lender had backed down, he could not tell me why or give me any information which i knew at that point something was wrong. After several conversations he told me that another lender is willing to look into my file but it will be a loan for $10,000.00 because that is the lost amount they were able to do but of course I need to put up more money I told him I did not have anymore money and to refund me my money in the amount of $1640.00he told me that I will have to wait 30days to get my money because that is when the company close out the files. David also told me that he was going to sue the company that backed down on lending me the money and he would keep me posted on the updates of what happens.
A month later and I am still trying to contact them and I dial the number they gave me which was 1-877-271-6911 and a recording comes out that says "good-bye" and hangs up the phone I faxed over a letter to him at 1-864-349-2195 I don’t think it will do anything but I am trying everything possible. If anyone knows of anything else to do please let me know, I borrowed money from family members and now I do not know how to repay them.
The company name: Stanford Financial Group
Phone: 877-271-2195 Fax: 864-349-2195
Address: 4 Carriage Lane, Charleston, SC 29407
E-mail: www.stanfordfinancial.net

[ModaFQ]

cherry, you have a PM

[Jen37]

Two new active advance fee loan scams --

Alpha Star Loans: http://www.alphastarloans.com

Millwood Financial Group: http://www.millwoodfinancial.com

Can anyone help?

[Jen37]

Caswell Financial Group @ http://www.caswellfinancialgroup.com/

[Jen37]

Another Active Advance Fee Loan Scam

NEW - ACTIVE WEBSITE!

Flemington Trust

www.flemingtontrust.com

[Jen37]

Advance Fee Loan Fraud!

NEW ACTIVE WEBSITE

Allied Capital Finance Corp.

http://www.allicapfi.com/

Is anyone around to help me?

[Jen37]

Advance Fee Loan SCAM! NEW AND ACTIVE WEBSITE!

Bayview Trust Financial

http://www.bayviewtrustfinancial.com/

[Jen37]

Priority One Financial is a SCAM!

New and Active Website

http://www.priorityonefinancialgrp.c...ge/6751652.htm

[HESO99]

Hi. When you talk about Stanford Financial Group (www.stanfordfinancial.net) is the same company that Stanford Financial Group (www.stanfordfinancialgroup.com) from Houston (headquarters)?

[Jen37]

Hi. Well not necessarily. These professional criminals tend to use company names that are already established. It is critcal that you check them out thoroughly before doing any business.

[poirot]

Another one:

Ridgefield Financial - http://www.ridgefieldfinancial.org
45 Braman Rd., Waterford, CT, 06385.
Toll Free : 1-800-963-2457
Email : loans@ridgefieldfinancial.org

[Nyla]

Originally Posted by HESO99

Hi. When you talk about Stanford Financial Group (www.stanfordfinancial.net) is the same company that Stanford Financial Group (www.stanfordfinancialgroup.com) from Houston (headquarters)?

Looks as though there's at least one complaint that this URL was also used in a loan scam.

http://www.complaintsboard.com/compl...l-c146038.html

[poirot]

The individual who complained in that blog may have made a typo or the scammer may have given her that URL and then correspond with a different e-mail address.

It appears Texas based stanfordfinancial.com had their corporate identity stolen. They filed a Trademark Infringement lawsuit against stanfordfinancial.net