Washington State Department of Financial Institutions

Consumer Alert

Internet Alert: Largo Financial

January 17, 2005

Largo Financial, a company that advertises loans on the Internet, requests that borrowers send an upfront fee prior to receiving a loan. This company does not have a license to do business as a mortgage broker or consumer loan company in the state of Washington. In addition, collecting an upfront fee is an illegal practice for a mortgage broker licensed in the State of Washington. Consumers who have sent fees are not getting the loans Largo Financial promised.

According to the company's website, http://www.largofinancial.net, Largo Financial has been in business since 1996 at this address: 19705 1st Ave S, Normandy Park, WA 98148. There is no evidence that the company actually exists at this address. The website was reserved by MA Financial at 3939 "La Vista" [AltaVista] Rd, Tucker, GA 30084. Neither Largo Financial nor MA Financial are listed at the Georgia address. The Georgia address appears to be a mail drop as it is the address of The UPS Store (formerly Mailboxes Etc.) This company appears to have no physical presence in Washington and does not appear to be licensed in any way in the State of Washington.

Victims should report their experiences to their state's Attorney General's office.

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