Berkshire Capital Funding
Possible Advance Fee Loan Scam
August 26, 2009
The Washington State Department of Financial Institutions is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.
Berkshire Capital Funding may be conducting an advance fee loan scam. Berkshire Capital Funding may be using the website http://berkscf.com. They have a listed address of:
30 Howard St.
Newark, NJ 07103
This address does not appear to be valid.
Berkshire Capital Funding has listed a telephone number of (866) 431-0490. This number does not appear to reach the company.
Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Berkshire Capital Funding is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions.
How The Potential Scam Works
- Consumers apply for a loan
- Consumers are advised that they have been approved for a loan and must send a payment to Berkshire Capital Funding as “collateral” for the loan and that after funds are received Berkshire Capital Funding will provide the loan funds
- Once consumers send the money no loan is ever made
- After the consumer sends the money, Berkshire Capital Funding may ask for additional funds when a consumer contacts Berkshire Capital Funding inquiring about the loan funds
- No loan is ever received
If You Feel You're A Victim
If you feel you have been a victim of a potential advance fee loan scam, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.gov. Also, victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.