Police warn against loan scam 12-12-02

PHONE: 961-2311
DECEMBER 12, 2002


Big Island police are warning residents to be on guard against a loan scam operating from Canada.

Police said a phony company ran a classified ad in the local Hilo newspaper advertising quick loans.

The ad, which ran from November 19 through December 10, 2002, said: “Short of Cash, Financial Assistance available for 1st & 2nd mortgage, business, personal and student loans, up to $500,000. Quick results. No fees.” It then listed a toll-free number to call.

Persons who called were then told to send money to the “company” in order to receive a larger “loan.”

One Puna resident reported that in response to the ad, he had tried to wire $611.40 to the company via Western Union. The Western Union office apparently had the company flagged as phony and informed the resident the ad was a scam.

Anyone who has been victimized because of the ad or has information about the scam is asked to call Officer Darren K. Horio of the South Hilo Patrol at 961-2311 or the police non-emergency number at 935-3311.

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