BETTER BUSINESS BUREAU®
NATIONAL ALERT
FOR FURTHER INFORMATIONCONTACT: Tom Joyce, Better Business Bureau of Chicago & Northern Illinois,312.245.2643; tjoyce@chicago.bbb.org
BBB Identifies Fake Lender Victimizing Consumers
Chicago, IL, February 6, 2008. The Better Business Bureau ofChicago is alerting consumers of a fake lender that is victimizing consumersall over the country by illegally requesting advance fees on loans.
The BBB has been receivingsignificant consumer inquiries as well as complaints against a new advance feelender claiming to be out of Mount Prospect.The entity goes by the name of Fairway Lending Group and is fraudulently usingthe location of 1699 Wall Street Mount Prospect, IL 60056, which is anoffice building with several suites. Our BBB has received almost 400 inquiriesabout Fairway since January, 75 of them in the past 6 days. We currently have20 complaints on file from consumers who lost anywhere from $900 to over $5,000each in “collateral payments” by wiring the money via Western Union todifferent locations in Canada- from Alberta to Ontario, some of them who sentmultiple payments. The victims are from Arizona,New York, Ohio,Indianapolis, Indiana,Maryland, Oklahoma,South Carolina, Wisconsin,Texas, Massachusetts,Colorado, Missouri,and Pennsylvania.
According to Steve J.Bernas, president & CEO of the BBB of Chicago and Northern Illinois, “The quickly growing number of complaints as well as thehigh number of consumer inquiries is very concerning to us. These types ofscams that request advance payment of fees are burgeoning and consumers need tobe extremely vigilant if they are targeted. Do not under any circumstancesprovide your bank account information, Social Security number, send a check orwire transfer money to any company that you don’t know. If the offer looks toogood to be true it probably is.”
We have confirmed with theMount Prospect Police Department that there is no entity at this location bythat name. Per Detective Jack Brogan, the Mount Prospect Police Department hasalso received complaints against Fairway Lending Group.
Fairway Lending Group isusing the following phone numbers and website to conduct its operations:
1-866-681-1281 x529- “RandyGold” (Senior Loan Cons.)
1-866-681-1281 x773- “TerrySingald” (Cust. Serv. Manager)
http://www.fairwaylending.org
Consumers should be awarethat the lender’s representatives’ names are most likely false and no suchindividuals may exist. Individuals across the country have been sentofficial-looking contracts and told to wire money via Money Gram, after whichthey would allegedly expect to have their loan funds transferred into theirbank accounts. After not receiving their loans, some of the consumers allegethat Fairway Lending Group contacted them again stating that before theyreceive their money the consumers would need to make additional payments for“insurance” and “collateral”.
The BBB reminds consumersthat advance fee loans are illegal in the U.S.and Canadaand also warns consumers to never do business with lenders who request moneyprior to disbursing the loan funds. Consumers who have been victimized by Fairway Lending Group should filecomplaints with the Internet Crime Complaint Center, or IC3, atwww.ic3.gov and with Phonebusters at www.phonebusters.com. IC3 is a partnership between the FBI and the National White Collar Crime Centerwhose mission is to help victims of cyber crime, while Phonebusters is aCanadian anti-fraud call center. And when it doubt, check it out:www.bbb.org
As a private, non-profitorganization, the purpose of the Better Business Bureau is to promote anethical marketplace. BBBs help resolve buyer/seller complaints by means ofconciliation, mediation and arbitration. BBBs also review advertising claims,online business practices and charitable organizations. BBBs develop andissue reports on businesses and nonprofit organizations and encouragepeople to check out a company or charity before making a purchase or donation.