Real Estate Agent with Ogunquit Sunrise Properties

A client of mine has experience the following scam so be alert.........A company called Liberty Investment Group out of Orlando Florida had promised a loan and they claimed to have had a private investor....well in todays market many people are looking for creative financing.......BE AWARE.....  The following is a step by step of events that occurred during this fraudulent act.

Tom had received a call from John Wagner....who mentioned that he had an investor that was going to loan him the $60,000.00 that he needed but that Tom had to pay $5250.00 in an insurance that would cover the first 6 months of payments.....once he had the money he asked Tom to do a money gram to Canada and to send it to an individual person and not a company he said that this was the investor that needed to receive the deposit in order to wire me the money the next day...

After sending the money Tom receive a call from John's supervisor Michael West who proceeds to tell Tom that the investor needed an additional 6 months of payments in order to send the $60,000.00. Tom believed him and sent the money gram to Canada again...."You will receive the deposit no later than 5 pm tomorrow." is what Tom was told....

Next day Tom gets a call and am told that the investor had backed out and they found a new investor that needed an additional 6 months payments ahead of time to send Tom $120,000 which Tom did not ask for Tom asked for only $60,000. Tom then sent the money gram to canada again....and the wire had a hold put on it then they asked me to pick up the cash and have someone else send it; Tom did...."The wire will be sent to you no later than 5 pm tomorrow."

Next day Tom gets a call that Mike West tells me that the insurance will not allow them to cover the additional $5250.00 that Tom need and that Tom would need to send an additional $5250.00...Tom thought this would be $21,000.00 that Tom would have sent out in cash.....can't happen and Tom was being taken for a ride....Tom then asked him to refund my monies that Tom was not going to go through with the loan... He says that he can not send me the refund until March 27th which is the end of month billing cycle.....Meanwhile they are sitting on $15,750 plus $365 in money gram fees....

To all else who hopes that man kind is really good......Beware......if you are asked to send cash .......DON'T DO IT.........If it sounds to good to be true then, like our mother use to say, it probably is.

When in doubt vist and search the company will be quite surprised at what you find....

Comments (1)

Sarah Reinhart
Brumback Residential - Spokane, WA
Scary...very scary.  Thanks for sharing!
Mar 31, 2008 07:55 AM