Washington State Department of Financial Institutions

Consumer Alert

Newcastle Fidelity Group – Not Located in Washington

September 20, 2007

The company advertises on the Internet, stating that it can provide personal loans, business loans, automobile loans, debt consolidation loans, and home mortgages. The company also solicits victims over the telephone. The consumer is contacted via telephone or email and told their loan is approved for a certain amount, but that due to their credit history, the consumer will need to wire “a couple of months payments” or a “security deposit” or an “insurance amount” upfront to the company via Western Union or Moneygram prior to obtaining the loan. The victim is asked to send the money to Canada. One of the names used in the scam is “Jason Ford.” The victim may also be asked for copies of identification, such as a Driver’s License, Birth Certificate, or proof of address, such as a utility bill and banking information. Once the victim has wired the funds they are not given a loan. Sometimes after the victim wires the funds they receive a call requesting additional funds because the lender backed out of the deal and the victim needs to send an additional deposit to secure the funds from another lender. If the victim attempts to contact the individual with whom they had been in contact, they get a constant ringing or voicemail. If the victim is able to get the person on the phone again, the victim is told that the loan has not gone through and they need to send additional funds to secure the loan. This appears to be an advance fee loan scam.

The website does not list an address for the company. However, victims who contact the company are given an address of 8721 Santa Monica Blvd, West Hollywood, CA 90069. Newcastle Fidelity Group has no office in the State of Washington, which we have been able to locate. 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.

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

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