Sagittarius Financial?

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Hello I'm New here! Joined: 14 Jun 2007 Posts: 4

How about Sagittarius Financial? Has anyone heard of them and are they a scam? Raymond Hamson is the name I have heard from

Not quite a Newb Joined: 14 Jul 2005 Posts: 41

There is a post here about that, Shameless:
http://forum.419eater.com/forum/viewtopic.php?t=66220

Can you post the scam mail so that we can look at it?

I'm making this it's own thread.

Hello I'm New here! Joined: 14 Jun 2007 Posts: 4

Dear Sir/Madam,

We are certified loan lender, and offer secured loans to individuals and companies at low interest. We offer long and short term loans. Our firm has recoreded a lot of breakthroughs in the provision of first class financial services to our clients especially in the area of Loan syndication and capital provision for individuals and companies.

WE have brought ailing industries back to live and we back good buisness ideas by providing funds for their upstart. We have a network of Investors that <SGT> are qilling to provide funds of whatever amount discreetly in individuals and organizations to start business and operations.

We also recruit Agents to assist our client companies to receive payments for their goods and servies. In our bid to be useful to you, please tell us which area that you wish us to be of service to you.

Kindly respond immediately to this email: [email protected]
after we shall speak
Tel:-+2348067527741.

Looking forward to your reply.
Truly yours,
Raymond L. Hamson

I can receive an $80,000.00 loan for about $1600.oo per month for 60 months with 5% interest per year and so far, no upfront fee is being requested.
Let me know what you think.
Shameless

Posted: Fri Jun 15, 2007 1:59 pm

The recruiting part of it is a check scam. They send you a bad check, you deposit/cash it and send them 90% of the money, keeping 10% as your pay. Then you pay the bank 100% back when the check bounces.

Baiting Guru Joined: 08 Jul 2004 Posts: 11856 Location: UK

@ Shameless, here is some further reading on how this type of scam works, see text and example images on this page:

http://www.banksafeonline.org.uk/moneymule_explained.html

Not quite a Newb Joined: 14 Jul 2005 Posts: 41

Thank you, Shameless. Very Happy

I think Pfeisty from the other thread has a better idea about the loan scam portion of this than I do, but I bet you that there would be processing fees involved in this somewhere before the victim ever got the "loan".

Other members may be able to explain how that part works.

Then you also have this bit, which I'm more familar with:

Quote:

We also recruit Agents to assist our client companies to receive payments for their goods and servies. In our bid to be useful to you, please tell us which area that you wish us to be of service to you.

That is a standard 'fake check/representative' scam. The victim would receive a check or moneyorder, supposedly a payment from a client, and deposit the check into their account. He or she would keep a percentage, usually 5 to 7%, and wire the remainder back to the lad.

The check would be counterfeit or stolen and eventually the victim will be held responsible for the overdraft fees and possibly face prosecution for fraud. By this time, of course, the lad has moved on to another victim.

edit: I forgot that SP was logged on....plus I'm wordy before my coffee. Laughing

Posted: Fri Jun 15, 2007 6:46 pm

As others have said, this is 100% scam, Shameless. Run, don't walk, away from this "loan". There will be "fees", and you will never see a dime of your supposed loan. Take another look at the email you received. How many financial companies do business with a free yahoo email address and Nigerian mobile phone number?

Read here for some stories of victims of this kind of scam:
http://www.directlendingsolutions.com/scams-using-western-union.htm

Hello I'm New here! Joined: 14 Jun 2007 Posts: 4

I am new here so bear with me. I received new loan offers. One from Mr. Blair James of Private Loan Investments Inc and one from Mr. Xavier Ricardo Ricardo Loans in Spain. It is scary how many of these scams are out there and if a person does not check these companies out, could really get hurt. Are there any private money loans out there that are legitimate? Thanks for all of the replies. They have been very imformative and helpful.

Not quite a Newb Joined: 14 Jul 2005 Posts: 41

Quote:

Are there any private money loans out there that are legitimate?

Not if it isn't going through an accredited financial institution such as a bank, mortgage company, or credit union, and they will certainly never email an unsolicited offer.

As for being new- we all were, once. Very Happy

Thank you for asking your question. That's one of the reasons we're here.

*** BANNED *** Joined: 19 Jul 2004 Posts: 140

Prosper.com offers private loans at well under bank rates. I know because a friend of mine has financed his new scooter with it. The Internet has given us this power.

Not quite a Newb Joined: 14 Jul 2005 Posts: 41

Excellent example, Franc28 Very Happy

Let's look at prosper.com- these are the things you should should check for, Shameless, and what you should expect to find with a legitimate financial entity:

Ignore all the fluffy stuff at the top; that just says the same types of things that credit unions do. The meat is at the bottom of the page.

First you have the Verisign seal. If you click the verify button, a little window pops up telling you that www.prosper.com has been issued an SSL certificate in the company name of Prosper Marketplace, Inc. I always go to verisign.com and verify an SSL claim through their website

It is difficult (nigh impossible) to fraudulently obtain an SSL cert and you will seldom see a fake site that has been issued a genuine one.

Looking further along the bottom of the page you will see the State Licenses and Lending Limits section.

Again, you don't want to take the sites word for whether or not they are licensed, but need to track down the issuing authority's website. Any legitimate financial or lending institution has to be authorized by whatever governing body handles these types of businesses, regardless which country they claim to be in or if they are strictly an internet business or have physical offices.

Out of the list on the link I posted, I chose California. If you go here:
http://search.dre.ca.gov/integrationaspcode/IntLookup.aspx and plink in the corporation name, Prosper Marketplace, Inc, you will see that they are indeed authorized to lend money legally.

These are two things that you can easily verify- any site that doesn't have this info or that you can't verify the info through the regulating authority's website is fake.

Hello I'm New here! Joined: 14 Jun 2007 Posts: 4

I have another questionable email I received for a loan. It is from a Keith Scott and Micheal J. Smith Financial Services 396 Marborough Rd
Swindon Wiltshire SN3 1NP UK
www.mjsfinancialservices.com. They will loan me a very large amount and only make me pay once a year but give them upfront monies incase i should not pay them. I have emailed them back several times with different questions and terms and they do keep emailing me back. Just curious to see if anyone else has had any dealings or email from this company

Posted: Thu Jun 28, 2007 6:08 pm

They will always ask you for an advance fee to cover some fee and then you'll never hear from them again.

The current loan-lad I'm baiting used this line to try and trick me to pay:

As stated by the approval directorates,the cost for your loan approval is $320,you will have to send this fee as soon as possible so that your loan can be approved and transfered to you urgently.

No legit financial company will ever send unsolicited mails out. It's a scam.

Posted: Thu Jun 28, 2007 8:16 pm

The site is fake. Bad design, 1 year registration, login goes nowhere, most of the "outlet locations" have info like:

Quote:

London Store
London Store
London,London
United Kingdom
Phone: N/A

and the top 2 entries in the "Canada" locations are for video rental stores. The third phone number tracks to Jv Energy Services Limited, a company that makes generators.

@shameless, this is yet another scam. ANY company that sends out unsolicited mail offering loans, esp at "too good to be true" interest rates or payment schedules is a scam.

[Edit]- Adding site to DB. I'll start a new topic to get this site killed.

Not quite a Newb Joined: 14 Jul 2005 Posts: 41

Shameless, if you want a loan I would encourage you to walk into your nearest credit union or bank and ask for one.

None of these emails and websites will result in anything other than you being stolen from.

Posted: Thu Jun 28, 2007 8:30 pm

Shameless:

Any legitimate loan will not require you to pay fees upfront unless you specifically want to pay "points" to reduce your interest rate. Any legitimate loan company is going to have you pay them monthly if not weekly depending on your credit rating. Also if you have to pay any "points" it would only be paid at the same time you are signing the papers and receiving your loan check.

You are not going to get some too good to be true loan offer via an unsolicitied e-mail.... you know better than that.