• Report: #977863

Complaint Review: Royal York Financial Service

  • Submitted: Tue, December 04, 2012
  • Updated: Tue, December 04, 2012

  • Reported By: jboo — Indianapolis Indiana United States of America
Royal York Financial Service
150 W. 33rd Street Internet United States of America

Royal York Financial Service Royal Financial Trust Services LOAN SCAM!! Ripped Me off almost $800.00 Internet

*Consumer Comment: Don't hold your breath.

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I applied for a loan on the internet and somehow Royal York Financial (Scam) received my info and emailed me stating that I was approved for a $5000.00 personal loan. Company stated I would need to pay the first 3 months of loan payment up front to get the $5000.00 loan, this was suppose to be a secured loan.

My friend decided to help me by paying the first 3 payments. My friend even came over to read the e-mail that Royal Financial sent me, and he thought it was legitimate. So my friend went to Western Union and wired money to Florida. First time he wired $484.02 and then a few hours later, he sent another 284.02.

I waited for the loan to be transferred to my account, and it never came. Jessica Meyers (scam coworker) stated the money would be in my bank account shortly. I waited a few hours and no money still. So I called up to Royal Financial and spoke to Daniel (scam manager), and he stated he would see why the money hadn't been deposited into my account yet. [continued below]....
..... Daniel asked me to call him back in 15 minutes. From there on for a few hours or so, I tried calling Daniel back and he didn't answer.

I decided that I'm going to keep calling. Daniel finally answered the phone and tried getting insurance money out of me. I told him no, that I was informed by Jessica Meyers that I didn't have to pay anything else. Daniel proceeded to tell me that I did. After all this, I told Daniel that I wanted my money back that I didn't want the loan. Daniel stated he would send the money back, but it would take 25-30 before I got my money back. I told Daniel that was fine.

Now I'm waiting to see if I get the money back.

This report was posted on Ripoff Report on 12/04/2012 12:09 PM and is a permanent record located here: http://www.ripoffreport.com/r/Royal-York-Financial-Service/internet/Royal-York-Financial-Service-Royal-Financial-Trust-Services-LOAN-SCAM-Ripped-Me-off-almo-977863. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Don't hold your breath.

AUTHOR: Flynrider - (USA)

" Daniel stated he would send the money back, but it would take 25-30 before I got my money back. I told Daniel that was fine. Now I'm waiting to see if I get the money back. "

   This is a well known scam called the "Advance Fee Loan Scam".   The tipoff is that it would actually be illegal for a legitimate lender to require advance payments in order to secure a loan.   The other tipoff is that they require payment using an untraceable cash method (Western Union is most popular with scammers).    Legitimate businesses do not require untraceable cash transfers.

   In a week or two,  the phone numbers that they are using will likely go dead, then they'll start all over again using a different company name.  

   Blindly applying for loans on the Internet is generally a bad idea.   You really have no idea who is getting your personal information and what they will do with it.

   The FTC has a webpage about this particular scam located here :

http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm
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