Amcapital loans ALERT!!!!!?

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COMMONWEALTH OF MASSACHUSETTS

OFFICE OF CONSUMER AFFAIRS AND BUSINESS REGULATION

10 Park Plaza - Suite 5170, Boston MA 02116

(617) 973-8700 FAX (617) 973-8799

TTY/TDD (617) 973-8790

www.mass.gov/consumer

DEVAL L. PATRICK

GOVERNOR

TIMOTHY P. MURRAY

LIEUTENANT GOVERNOR

DANIEL C. CRANE

DIRECTOR

FOR IMMEDIATE RELEASE:

April 19, 2007 CONTACT:

Kimberly Haberlin

(617) 973-8767

(617) 947-8942

Consumer Affairs Issues Consumer Alert on Advance-Fee Loan Scam And Pay Day Loans

BOSTON - The Office of Consumer Affairs and the Division of Banks today issued a consumer alert warning consumers about a potential advance-fee loan scam and an illegal pay day loan operation recently advertised in the Boston Metro.

ADVANCE-FEE LOAN SCAM

Advance-fee loan scams generally involve the promise of easy credit regardless of credit history. Upon completion of a loan application, the entity requires a consumer to wire a percentage of the loan amount, various fees, or payment of insurance in order to secure the loan. Upon collection of the fee, the loan is never delivered.

Amcorp Capital is operating a website at www.amcorpcapital.com. The only contact information provided on the web site is a toll free telephone number and an email address. The web site also lists a business address of One Boston Place, Boston, Massachusetts.

Amcorp Capital claims to offer mortgage loans, education loans, personal loans, and automobile loans. This entity is not licensed by the Division of Banks and calls to the company have not been returned. An investigation by the Division of Banks has determined that no such business is located at the One Boston Place address. Moreover, the Amcorp Capital鈥檚 web site was apparently created on April 11, 2007.


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