Funds never received after insurance paid


My Complaint: On or about May 23rd, 2013, I applied for a loan over the Internet. Loans Branch approved my $5,000 loan request, sent me the loan papers to sign and fax back which I did. I was also required, as a condition of receiving the loan, to pay an insurance premium of $467.13 and sent it via Western Union. I called Loans Branch and spoke to Mr. David Clark, Senior Loan Division Manager, explaining I would not be able to pay the premium until May 31, 2013. He assured me that it was fine, to call on the 31st and he would give me the information on where to send the Western Union.

On the 31st, at 9:12 a.m., I placed the call and was advised to send the money transfer to Faye Francois in Columbia, Maryland. .I then called Mr. Clark back and gave him the MTCN number. He advised me that the funds should be in my bank within six hours.

Upon calling Mr. Clark back later that afternoon when the funds were not in my bank, he explained that there was a hold up in the processing and the funds would be in the bank on Monday.

Monday came and no funds were deposited. I attempted to call Mr. Clark only to find the number was “temporarily disabled”. I then sent Mr. Clark several emails at [email protected], requesting updates on the status of the funds.

Mr. Clark did not respond to the emails, but did call back late in the afternoon Monday stating that the funds would be deposited on Tuesday.

Tuesday no funds were deposited and all attempts to call and email Mr. Clark were unsuccessful.

I contacted Western Union and determined that the money transfer was picked up at 8:11 p.m. on Friday, May 31st. I then attempted to contact Ms. Francois at a number locacated by using the white pages of the phone book for Columbia Maryland. The woman who answered the phone handed it to a gentleman when I asked to speak to Ms. Francois. I stated the reason I was calling and he resonded by saying that he did not receive any funds nor did he request any funds and, furthermore, he was in Africa. I stated that his address was listed in Silver Spring, Maryland to which he replied that he did live there but was now in Africa and his phone number was via Magic Jack which allowed him to use the phone anywhere in the world even though it was a USA area code and number.

I contacted Western Union and launched an investigation.

Apparently this company is running a scam as no funds have ben received and no contact can be made with the company.


My Demand: A refund of the $467.13 insurance premium and the $40.00 transfer fee for a total of $503.17