Washington State Department of Financial Institutions

Consumer Alert

Internet Alert: Beware of Valtrus Capital's Advance Fee Loan Scam

July 18, 2005

The Washington State Department of Financial Institutions has received several inquiries regarding Valtrus Capital. The company advertises on the Internet, stating that it can make personal and small business loans, does cash flow and asset financing, and makes commercial mortgages. The consumer is asked to wire an upfront or insurance fee to the company via Western Union prior to obtaining a loan. The money is wired to Braceridge, Ontario, Canada. The company may also ask for copies of identification, such as a Driver’s License, Birth Certificate, or proof of address, such as a utility bill. This appears to be another Canadian advance fee loan scam.

The website lists Valtrus Capital’s address at 601 Union Street, Seattle, Washington, 98101. There is a high-rise office building at that address, and Valtrus Capital has never been located in that building. As far as we can tell, Valtrus Capital has no office in the State of Washington. The company is not licensed by the Department of Financial Institutions and is not listed with the Washington Secretary of State or the Departments of Licensing, Revenue or Labor and Industries to do business in Washington. One individual was asked to fax information to the company at a Washington telephone number, but that number is not a listed number.

Victims should report their experiences to the Internet Fraud Complaint Center at www.ic3.gov.

[Top]

DFI