Complaint Review: AVENUE FINANCIAL GROUP

Not necessarily everyone who gets scammed has bad credit. I applied online through Lending Tree. Other than getting a loan for my undergraduate and graduate studes and my car, I have never applied for a loan. Therefore, I didn't know that this was not legitimate. I thought it was a good rate and jumped. I learned my lesson, and trust me, it will never happen again.

Simple. We have everything documented here for the purpose of filing a civil suit once these criminals are caught.

I don't care about the money anymore. The point is to educate and to keep everyone abreast of the current status.

It's really none of your business so please do me a favor. Please refrain from commenting unless you were a victim or have fruitful information regarding these criminals.

Advance-Fee Loan Scams: Easy' Cash Offers Teach Hard Lessons
Provides tips on how to spot a scam and avoid losing your money. Rule number one: Legitimate lenders never "guarantee" or say that you are likely to get a loan or a credit card before you apply, especially if you have bad credit, no credit, or a bankruptcy. 8.5"x11", 2 pages.

http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm

Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm


The scam targets those people with low income/bad credit who do not know that correct legal loan process and do not take the time to check it out first.

You cannot go by the company name to ensure legitimacy - as with all scams the company name changes constantly and the scammers use legitimate companies or copy-cat business names.

Advance-Fee Loan Scams: Easy' Cash Offers Teach Hard Lessons
Provides tips on how to spot a scam and avoid losing your money. Rule number one: Legitimate lenders never "guarantee" or say that you are likely to get a loan or a credit card before you apply, especially if you have bad credit, no credit, or a bankruptcy. 8.5"x11", 2 pages.

http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm

Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm


The scam targets those people with low income/bad credit who do not know that correct legal loan process and do not take the time to check it out first.

You cannot go by the company name to ensure legitimacy - as with all scams the company name changes constantly and the scammers use legitimate companies or copy-cat business names.

Advance-Fee Loan Scams: Easy' Cash Offers Teach Hard Lessons
Provides tips on how to spot a scam and avoid losing your money. Rule number one: Legitimate lenders never "guarantee" or say that you are likely to get a loan or a credit card before you apply, especially if you have bad credit, no credit, or a bankruptcy. 8.5"x11", 2 pages.

http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm

Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm


The scam targets those people with low income/bad credit who do not know that correct legal loan process and do not take the time to check it out first.

You cannot go by the company name to ensure legitimacy - as with all scams the company name changes constantly and the scammers use legitimate companies or copy-cat business names.

Advance-Fee Loan Scams: Easy' Cash Offers Teach Hard Lessons
Provides tips on how to spot a scam and avoid losing your money. Rule number one: Legitimate lenders never "guarantee" or say that you are likely to get a loan or a credit card before you apply, especially if you have bad credit, no credit, or a bankruptcy. 8.5"x11", 2 pages.

http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm

Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm


The scam targets those people with low income/bad credit who do not know that correct legal loan process and do not take the time to check it out first.

You cannot go by the company name to ensure legitimacy - as with all scams the company name changes constantly and the scammers use legitimate companies or copy-cat business names.

HOW can you file a suit on a company that DOES NOT EXIST ???? You have been scammed by a group of scammers working out of Canada, using fake names and addresses. They are in a foreign country, out of reach of ALL US law enforcement. Unfortunately, you'll never see your money again.

This report has been generated as the result of a financial fraud that was committed against me by Avenue Financial Group (AFG) which actually does not exist but the address they provide on their letterhead is 595 Stewart Avenue, Garden City, NY 11530. The telephone number that was used during all communications is 866.403.6662 and the fax number that was used is 516.977.1030. Their website is www.avenuefinancial.net. The names of the two people that I spoke with are Brenda Olsen (x384) and Dennis Crown (x0).

On December 5, 2008 I conducted an online search for a long term personal loan. Mind you, I had never applied for a loan in my life with the exception of my two college degrees and my automobile. I immediately recognized that name Lending Tree, LLC at www.lendingtree.com and decided to check further into the process required to obtain a loan. All that was required was that I fill out an application consisting of personal information such as my social security number and address. On December 9, 2008 I was contacted by Brenda Olsen who left a voicemail message stating that I had been approved for a $5,000 loan through Avenue Financial Group based out of New York. After searching for the company name online, I found multiple companies throughout the United States and Canada with the same name, checked the BBB which didn't have any positive or negative information, and researched their website @ www.avenuefinancial.net.

I returned Brenda's phone call on December 9, 2008. Brenda congratulated me on being approved for the $5,000 loan. She explained that because this was a secured loan that I would need to provide collateral for insurance purposes as stated in the faxed agreement. The collateral required consisted of and was equal to 5 monthly payments totaling $1,107.20 and since I was making such a large payment upfront that I would not need to begin repaying the loan until June of 2009 for two years at $221.00 per month. I reviewed the documents numerous times. Everything appeared to be completely legitimate. I borrowed money against my 401K account in order to pay for the collateral. On December 15, 2008 I contacted Brenda Olsen to inform her that I had the collateral payment required to secure the loan. Brenda explained that the lender was located in Canada and that I needed to wire the funds directly to them. I asked Brenda how to wire the money since I had zero knowledge or experience wiring money. She told me to go to Walmart and ask for a red and white form called a Money Gram. I was to send the collateral payment to the Canadian lender, Christine Osborne in Thompson, MB, Canada. Since the fee was going to be $22.00 Brenda told me to simply send $1,100 and the remaining monies would be credited to my loan. I followed all of these instructions and contacted Brenda to provide her with the reference number as requested. Brenda stated that the $5,000 loan would be directly deposited into my account on December 16, 2008.

On the morning of December 16, 2009 I received a voicemail message from Dennis Crown who identified himself as the customer service manager of AFG. Dennis stated in this message that there had been a slight problem with my loan and needed to contact him immediately. Upon contacting Dennis, I learned that the lender after reassessing my loan needed to purchase an additional $1,100 in insurance to secure the loan. My other option was to receive a full refund but that I would not be able to receive this refund until January 5, 2009. I contacted Brenda Olsen who appeared to be completely unaware of the situation and stated that Dennis was a good man and would take good care of me. Brenda also stated that Dennis needed to speak with me again. I contacted Dennis once again who stated that he had spoken with the lender and that they would work something out with me for an additional $800 instead of the original $1,100 to secure the loan. I wired an additional $800 to Christine Osborne in Thompson, MB, Canada through a Money Gram at Walmart. Because the amount wired was less than $800, I was only required to pay $14.16 for the Money Gram fee.

I shared this information with a friend who began to research the company online. She found reports posted by others on www.ripoffreport.com that were identical to my experience with the same exact company as well as similar stories with different companies. These individuals stated that their loans were never deposited into their checking accounts after making two collateral payments. I knew at that point that I had been deceived. I contacted my local police department who filed a report with Financial Crimes. The following day I closed my checking account because they had my checking account number in order to transfer the loan. I also contacted all three credit bureaus to prevent identity theft since these criminals had all of my personal information including my social security number. They also had a faxed copy of my passport that I provided for their requirement to provide a type of government ID. The reason I provided this document as opposed to my driver's license is because I was in my office and it was quicker than getting my wallet out of my purse.

Dennis Crown had the nerve to contact me a third time. This time he stated that they would provide me with a $10,000 loan but that I needed to pay an additional 10 monthly payments. I told him no and demanded a refund in the amount of $1,900. I pretended that I wasn't aware that they had deceived me. Dennis informed me that a refund would be made on January 5, 2009 but since the company doesn't exist I know that I will never see this money again unless someone finds these criminals and prosecutes them to the fullest extent possible. This experience has been completely and utterly devastating. I have been severely violated and am in complete distress.

The website of Avenue Financial was created on 11.05.08 through SiteTiki.com which is a company based out of Singapore. This information can be obtained through the WHOIS database which I discovered on the BBB website. According to http://www.ripoffreport.com/default.asp, there are a series of companies that are potentially being operated by the same people. This inference was derived as a result of the reports filed by other individuals indicating the exact same scam and strategies utilized. I have documented these and am happy to share them with anyone who can help. In addition, Jason from LA who also went through Lending Tree, LLC (see http://www.ripoffreport.com/default.asp) has contacted an attorney in LA as he was scammed out of more than $5,000 and is seeking to file a civil lawsuit

I pray that there is someone out there that can and is willing to assist me and other victims in finding these individuals who are hacking into Lending Tree's website before they violate and take advantage of other innocent people. Please contact me if you have any information as to what I can do to seek justice and to put an end to their criminal practices.
Other Fraudulent and Fake Companies all being Operated by the Same Individuals:

Trenton Financial Group
Stanford Financial Group
Watson Financial Group
Beacon Financial Group
Fairway Financial Group
Bellwood Financial Group
National Trust Financial Group
Clearview Lending Group
Winchester Lending Group
Metro Lending Group
Charter Lending Group
Hudson Lending Group
Prevathon Lending Group
Moneta Lending Group
Invesco Lending Group
Oakdale Lending Group
Winfield Lending Group
Vision Lending Corporation
Capital Lending
Clearview Lending
Birchcliff Lending
Pioneer Lending
Sutherland Lending
Parkway Lending
Superior Lending
First Universal Lending
Avalon Lending Services
Best West Financial
Charter Stone Financial
Marrow and Parke Financial
Capital Venture Investments

If you have been a victim please contact your local authorities immediately. In addition, contact all three credit bureaus to protect your identity. You may also need to close your checking account immediately to protect yourself from further damage.

Moreover, make sure to file reports with http://www.ftc.gov/index.shtml, http://www.ic3.gov/default.aspx, and all other government agencies such as the BBB, attorney general, and FBI as well as any media groups. Please share your story with Fraud Watchers and Scam Warners as well. We need all of the support that we can get.