Beware fraudulent loan offers on Web

Monday, December 17, 2007

Two Canadian businesses using Maryland addresses are targeting consumers looking for loans online, promising them thousands of dollars but draining their accounts with advance fees without delivering the loans, warns the Better Business Bureau of Greater Maryland.

In recent weeks, the BBB says it has received five complaints against Consolidated Financial Services, which used an address of 190 W. Ostend St. in South Baltimore. Similarly, City Wide Lending used an address of 703 Giddings Ave. in Annapolis. The BBB says the solicitations actually originated in Canada.

One consumer wired a total of $850 in three payments to an individual in Ontario. Pressured to send more money, the consumer tried unsuccessfully to get a refund. The BBB says that when consumers attempt to call either company back, they are mistreated or greeted by a voice mail recording that says, "Thank you, goodbye," or just "Goodbye."

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