Fee Fraud Hits 15,000 Unlucky Victims

It has been discovered that as many as 15,000 people have fallen victim to advance fee frauds at the hands of more than a dozen debt elimination companies.

The large-scale fraud operation is estimated at collectively costing the victims a total of £6,000,000. The investigation into the fraud was named Operation Troy by those working on the case and it was made public this week after a steady build up of information throughout a year-long investigation.

The investigations were lead in a joint effort by Suffolk Trading Standards and Suffolk Constabulary and the efforts resulted in several arrests and the naming and shaming of 31 leading companies including debt elimination companies which amounted to 13 in total.

The fraud was based on said companies cold calling their victims and arranging a pre-service fee for whatever they were offering and then failing to deliver a service at all. Suffolk Trading Standards commented that the scams involved “a huge network of people” and that the victims were reportedly paying out sums of £400-£500 as a down payment before even receiving any form of service.

Some of the debt management companies involved have been named as First Debt Recovery, First Debt Elimination and Park Lane Services and as the investigation continues, the number of companies continues to grow.

Explore posts in the same categories: Finance, Fraud

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