Mutual financial group

Michele –

Victim Location 60194

Total money lost $1,400

Type of a scam Advance Fee Loan

On July 23, 2019 I was contacted by Amanda Martin from Mutual Financial Group. Ms. Martin informed me I had qualified for a $5,000 dollar loan. However, in order to receive the funds, I would have to adhere to a collateral payment amount, 3 payments of $150.00, totaling $450.00. After completing this contract, I saved a copy of the submitted contract to myself for recordkeeping. I sent the contract back to Ms. Martin per her instructions, and after receiving it was told I’d submit the payment via Western Union to the “borrower”, an individual in Toronto, Canada who presumably was the lender, Mr. David Gaines. A copy of the Western Union transcript with the amount paid and tracking number has been retained. After doing so I was told I’d be contacted by Ms. Martin about 45 minutes thereafter.

After the funds did not appear in my account I was informed by Ms. Martin that a credit check on me had resulted in something less than appealing to the lender, and the lender was requesting an additional $450.00, another 3 payments’ installment – now totaling $900.00, also through Western Union. A copy of this Western Union transcript with the amount paid and tracking number has also been retained. This was not money easy for me to come by and I took a risk pulling it out, information I made clear to Ms. Martin. This was also made to Mr. David Gaines. But I was told now after the second payment, the funds would appear in an hour. An hour came, nothing. Ms. Martin informed me “no ifs, ands, or buts”; her words, they’d appear the next day at about 8:00 because of banking hours. Next day, no funds.

During the next verbal meeting with Ms. Martin, she informed me that I had to pay another $500, half of the cost of coverage for an insurance policy and that Mutual Financial Group would cover the rest. After pulling from funds I didn’t have, again, I acquired this and sent the payment, to be told once again the funds should appear in an hour. This $500.00 was also via Western Union, to a Mr. David Anderson, with a copy of this Western Union transcript with the amount paid and tracking number has also been retained. The last conversation I had with Ms. Martin I was told that that Mutual Financial Group could not cover the other half and I’d have to cover it. At this point I’d paid $1,400 not including fees. I requested a refund, and was told I’d receive it around September 9. However, I don’t trust this company and I’m not expecting anything in return.

A friend of mine researched California authorities and found the Attorney General’s office, who referred me by letter to consult the Federal Trade Commission, which I’m doing at the moment. On September 2, 2019 I discovered that the phone and website are both gone.

Jordan –

Victim Location 22942

Total money lost $450

Type of a scam Advance Fee Loan

This company claims they got me approved for a loan. I had to send $450.00 as advance payments on my loan which was supposedly already approved by Western Union to someone in Canada and I would receive my funds in 2 hours. I sent the money and didn’t get my funds. So I called them. I was told the next day that my credit score had dropped so I had to send in another 3 months worth of advance payments ($450.00) if I still wanted the loan. I asked for a refund and was told it would take 30 days. Called the customer service and the guy hung up on me!

Amber –

Victim Location 10701

Total money lost $496

Type of a scam Advance Fee Loan

I was told I qualified for $5000 loan but had to sign loan agreement a d submit $450 by western union. I submit the sign agreement along with $450 by western union on July 24th. I was told the documents were received and I will be receiving my money the next day. Friday Emily called stating the lender needed a higher downpayment due to my credit and needed an additional $450. I told her I didn’t have the additional amount as that was my only money and needed a refund. Emily agreed to a refund and ask me to call customer service on Monday july 29th. I called customer service and as soon I ask about my refund the representative hang up the phone. I called multiple times and they kept hanging up. I called my loan officer several times and no answer. They just took my money

1 thought on “Mutual financial group”

  1. I had the exact same experience. [email protected] is my contact. Have you had any updates since then? I’ve contacted the BBB and FTC but no results. This happened to you around the same time it happened to me. I’m filing bankruptcy because of it. Thoughts of conversations I had with Amanda Martin give me panic attacks.

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