Washington State Department of Financial Institutions

Consumer Alert:
Saxton Financial Trust

Advance Fee Loan Scam

March 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.

Saxton Financial Trust appears to be conducting an advanced fee loan scam.

Saxton Financial Trust has advertised using a Web site, www.saxtonfinancial.com, although this Web site is no longer operational. They have listed an address of:

419 Occidental Ave. S. Ste. 201
Seattle, WA 98104

The owner of this building has confirmed that no company named Saxton Financial Trust has ever been located there. Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Saxton Financial Trust is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions. Saxton Financial Trust does not appear to have any physical presence in Washington State.

How The Potential Scam Works

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.

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