Scam Type
Advance Fee Loan Scam
Business Name Used
Advance Fee Loan – Commercial Lending Scam
Date Reported
June 10, 2024
Postal Code
11747
Total Dollars Lost
$ 7000
Scam Description
I was looking for financing for my business that was struggling, I started getting a lot of calls from different financing companies who wanted to help me many of them were merchant cash advances, which I did not want to work with. This one was different, they said they were a private equity firm and their rates were very good and could offer us $175,000 on our books and it didn’t matter what my credit was it seemed like a dream. After I spoke to a couple of people who were scamming me and sounded really convincing, I agreed to wire $7000 to fund the account for the service fee or something like that . They waited till it was almost ready and said I needed that. They were very communicative and even set up a portal for me to log into to see that I had $175,000, which seemed great until a few days later when they said the money would be available , they began to tell me that there was a company merger, then the guys Grandma was in the hospital, then I should just wait till the dust settles for the merger and to believe in myself, it was all nonsense. They had no intention of funding this, and they took advantage of a desperate person , trying to save a company with 30 employees. It’s sad and I feel completely embarrassed and annoyed with myself for being so dumb. They go by https://capstarinvestments.co/ a man named arthur was the lead and his partner vincent pretended to be his boss. The wire was sent to superb builders group in Brooklyn, which I should’ve known wasn’t the name of their company and was a red flag, but I was too excited to save the business so I took a chance where I shouldn’t have. I shouldn’t have trusted these guys with the silver tongues. I hope no one else falls for this, and I can survive this for the sake of our staff and their families
