Consumers submit an on-line application to the company. Millennium Loans informs the consumer that they have been approved for a loan. Consumers report that they are then told that they need to obtain insurance or that they need to put money down before the loan funds will be transferred. The consumer may be provided with loan agreements and insurance policy documents to sign.
Millennium Loans claims to have an address of 15700 W. Ten Mile Road, Southfield, MI 48075. Millennium Loans is not licensed by the Department of Financial Institutions to lend money in Washington. Additionally, Millennium Loans is not registered with either the Washington State Department of Revenue or the Office of the Secretary of State to do business in Washington.
One of the names used in the scam is Jamie Shelborn.
Consumers should never forward money in order to obtain a personal loan.
Victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.