• Report: #1143698

Complaint Review: Westmont Capital Funding LLC

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  • Submitted: Fri, May 02, 2014
  • Updated: Fri, May 09, 2014

  • Reported By: Kenny — Huntington beach California
Westmont Capital Funding LLC
33 W 60th St Suit 1108 New York, New York USA

Westmont Capital Funding LLC Pay the security deposit in order to qualify for a loan New York New York

*Consumer Comment: SAME SCAM DIFFERENT NAME

*Consumer Comment: Did you check out the website? It is clearly a scam

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On April 28, 2014, I received an email saying that your loan application was recently approved for $7000. When I contacted one of the customer service (name: Eric Flecher), Eric asked me to email copy of my driver licence & SS#, and he also required a co-signer or collateral such as home, cars, ect... in order to get approved, and I don't have any of those, so I asked if there is other way, then he said "yes" which is called "Security deposit collateral" for the amount of $646, and this money will be refunded back to me after the first 4 months on time payments. Then, he emailed me the 8 pages loan agreement (it look very legit) and payment instruction of how to wire money through Western Union (receiver's name: Adrian Hushes, state: Ontario, Country: Canada). I asked why the receiver is personal name and why Canada, he explained because the lender is in Canada who offered a lower interest rate. [continued below]....

..... On April 30, I made the wire to Andrian Hushes (total $704 including $58 wire fee charged by Western Union), and I called Eric  to let him know, then he checked with his act department (name: Allen Hunt), then Eric told me the loan will be deposited within 4 hours. So I waited six hours, but I didnt see anything in my bank yet, so I called them but it was after hours already.

Next day morning, I called Eric and asked why the money has not been deposited, after 4-5 min putting me on hold, he got back to me and said that because I'm considered a high risk customer (because i have too much credit card debt) so they required me to purchased an insurance which cost $1482.64, I was very upset and asked him straight that "is it a scam", he said absolutely not and comforted me by saying "Dont worry, if you don't want to purchase the insurance, we will return my money back by sending me a check (take 3-5 business days). For some reason, I felt a bit better after the offer, then he said "let me check with Allen to see if there is other option", after on hold minutes, he got back and told me that our company will share half of the insurance amount which is $741.32, so he left me two options, either purchase insurance for $741.32 or they will cancel the loan & return my money back. Because I needed the loan badly so I decided to continue.

Same day on May 30, I wired to the same person and gave him a call just like the 1st time. He told me the same thing, the money will be processed and deposited to my act within 4 hours, later on that day around 5pm est time, I still did not see any money in my act, I was very frustrated and gave him a call, this time I request to talk to Allen directly, and he said that after overview my application our company require a full amount purchased of insurance, I was really pissed and Allen told me very firmly that if I don't want to, he can go ahead and send me the money back. I said "yes, please send me back my money", and of course it will take 3-5 business days.

After I hung up, about 45 min later, just because of the desperate for the loan, and I talked to myself that if they are really a fraud company, I won't get my money back anyway, so I decided to risk another $741.32 because i had put too much money in already, I called Allen back. Next day morning, I went to Western Union and did the same thing, and Allen told me the same thing. It was around 10am Friday morrning, this time I kept calling him every one hour to make sure everything all right, and each time he assured that the loan had been finalized, and I will received the money by 2pm. I waited till 2pm and nothing happened, so i called him back, after checking something, he told me there was some wire fee (which is $675) that why it being delayed, and he told me the company will cover that fee for me but I have to wait 3 business days. I was mad again, I asked him why the wire fee is $675, it is ridiculous, and why I have to wait for 3 days to get the fund deposited. He explained that "because the company cover that fee so I have to wait, if I want to get the fund to day I have to pay it myself".

Now, I start realized that I might be a fraud victim, so I kept asking him to tell me straight if I got scam by you guys, please tell me and I will not blaming you because it was my stupidity, and he kept saying "no sir, you are scamed, we are big company, you will receive your money by Tuesday the latest". At that time, I felt like 70% that I got scam, but still 30% hoping for Tuesday. Then I hung up, and call the FBI fraud department in Newyork to try to find out if their officer really exist, but the police refuse to go there because I'm in California, the police had googled up their website and she told me it look legit, so just wait til Tuesday if its really a fraud, and also they ask me to search on the Better Business Bureau website for more info. And I checked that website, I found out that there are similar situations like mine and they are fraud. So, I kinda knew that 99% I got fraud. Please help me to arrest these guys, get my money back and to stop them doing that to other victim. Thanks...

Kenny Nguyen 

Huntington Beach, CA

USA

 

 

 


This report was posted on Ripoff Report on 05/02/2014 06:55 PM and is a permanent record located here: http://www.ripoffreport.com/r/Westmont-Capital-Funding-LLC/New-York-New-York-10023/Westmont-Capital-Funding-LLC-Pay-the-security-deposit-in-order-to-qualify-for-a-loan-New-1143698. 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

SAME SCAM DIFFERENT NAME

AUTHOR: TKinAK - ()

CONSUMERS BEWARE!!!

Westmont Capital Fund is now Newmark Capital Fund

 

FEBRUARY 27, 2015:

Same scam different company name...A few of the players from the old scam are still operating under same name; Allen Hunt being the so called "Accounts Receivable" associate.  Douglas Cooper is a so called "loan broker" and has a direct extension at the 1-866 number on the bogus website that has been operating and in existence since January of 2015.  The 5 "customers" that left comments on the bogus website are fictituous, as well.  Seems ironic that they all seem to be somewhat illiterate and unable to spell or use proper punctuation much like the individuals that I have been receiving emails and phone calls from over the past several weeks....

The website seems legitimate but if you look closely the web designer failed to change the name of the company from Westmont to Newmark. This was the only flaw which alerted me and led me to do a web search for Westmont Capital Funding and I came across this helpful website that proved my suspicions and instincts were accurate.  Thankfully I did not send the $726.00 that Douglas Cooper and Allen Hunt insisted from me to process the $10K loan they promised me.  I, also received a very legitimate looking 8 page loan document with a page that provided the optional insurance coverage that would cost an additional $1,498.64. I was also asked that I send a Western Union person to person wire transfer and to fax a copy of the receipt to Douglas Cooper and once this was completed, my funds would be wired to me within 4 hours.  I chose to do more research and it paid off.  I am contacting the BBB in the New York area as well as writing a letter to the District Attorney's office and the FBI to investigate these fraudulent d****e bags.

 

I hope this will be posted in a high traffic area on this website in hope that it will help to inform others to beware of these scum bag predators. Do not ever send money to a 3rd party in a foreign country for any upfront fees for the promise of a loan. Question the parties and don't be embarrased if they try to belittle you or threaten you that the funds will be allocated to someone else.  They don't care who they scam until they get caught.  I hope they are arrested and convicted for the crimes they have committed and are continuing to commit against consumers nationwide!  Please feel free to send any comments to me directly.  I am filing my own complaint on this site as well.

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#2 Consumer Comment

Did you check out the website? It is clearly a scam

AUTHOR: FloridaNative - ()

I took a look at the website that you posted for this "lender".  It is very clearly a scam type website. If you look up the info on whois that the website was just created less than a month ago (created April 15, 2014) and only one year was paid for the domain name. These are both good indicators that the site is a scam.

In addition to that, the IP address is out of Singapore and the country that the website is registered in is Panama. Another two indicators that you are working with a scammer.

The name servers are out of Romaina.

Even if you didn't go so far to check out the website whois info, the website itself is clearly a scam. You can tell because of the creation date and the info on the site.

Even if the website info didn't tip you off - the two main items that indicate that the loan is bogus is 1) the scammer is asking for a fee from you before issuing the 'loan' and 2) the scammer is having you wire the funds through Western Union to an individual.

Up front fees on a personal loan to a consumer are not legal. Go to the FTC(dot)gov website and read about the Advance Fee Loan scam. You will find it under the consumer information section for scams. That money is gone. Report it to the police and to the FTC. Never send money to a stranger thru Western Union or a reloadable card. All of these upfont fee type loans are scams.

One more thing:  they have a copy of your SS# and your DL because you sent it to them. You are now subject to ID theft. Please protect yourself. Report it to the police. Freeze your credit reports and do what you have to do for ID theft. The FTC(dot)gov website will give you steps you need to do to protect yourself.

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