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Loan scam website operating in W.Va. shut down

By Staff reports

CHARLESTON, W.Va. -- Investigators with the state Attorney General's office said they closed a website scamming state residents by promising "guaranteed loans."

A group calling itself Norwood Lending Agency ran a website claiming to be a Morgantown-based financial institution offering loans regardless of credit history. An investigation by the state Consumer Protection Division revealed the group was actually operating in Canada, according to a news release issued by state Attorney General Darrell McGraw.

The group had apparently asked people to pay $1,000 fee before loans could be dispersed. Once scam victims sent the fee, they would never hear from the business again.

Investigators contacted the company providing the group's Internet domain address and it was closed, McGraw said in the release.

He reminded consumers that requests for advanced payment to cover processing, application fees, insurance or requests for a "first month's payment" are often signs of a loan scam.

 


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