MCO Capital loan

geomacl

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

Here's the oft link - hopefully, I can post links??? Fingers crossed

colinho

geomacl wrote: »

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

Here's the oft link - hopefully, I can post links??? Fingers crossed

Thanks geomacl - is it Geoff?
Just corresponding with Westminster City Council, as they have denied the FOI request quoting a clause I haven't and can't be bothered to read, but they have followed up with this statement:

Re: MCO Capital Ltd

I write further to your enquiry regarding the above named business.

Westminster Trading Standards have been in communication with MCO on behalf of a number of consumers regarding the same mailing you received, which may appear to be some kind of scam in order to elicit payment.

We are aware that MCO offer short term loans online. They have advised us that automatically a loan application is received by them, the mailing is generated. Allegedly criminals have made a number of fraudulent applications and it is possible that this has been done in this instance using your personal details. We have suggested that MCO improve the content of their mailing.

In the circumstances MCO have requested that complainants should write to them care of their registered office address and confirm that a loan has not been requested and payment has not been received. Their address is Imperial House, 15-19 Kingsway London WC2B 6UN.

If you believe you have been subject to identity fraud or want advice on preventing becoming the victim of identity fraud, we would recommend that you contact Action Fraud, the national fraud reporting centre for the UK. Their contact details are:
telephone 0300 123 2040 www. actionfraud.org.uk

It may also be advisable to conduct a credit reference search as well to ascertain if any fraudulent applications have been made. We would suggest contacting the two main agencies who are Equifax https://www.equifax.co.uk & Experian https://www.experian.co.uk

I trust the content of this letter has addressed your concerns but should you require any further advice please contact Consumer Direct on 0845 040506 or visit

Now, curiously, if you go to the ActionFraud website today, MCO Capital have moved to Portland House, which cropped up in an earlier posting.
I've responded with:

Thanks for the prompt response.
As you will probably be aware, the scale of the scam seems to be in the thousands - what information can be gleaned from various internet sources, including companies house, and MCO filings, would not suggest that this company has the sort of resources to make cash loans of the indicated volume. They do not reply to emails, or written correspondence, there are cases online of people receiving 2 or 3 demands, despite having called the premium rate number which is communicated to victims. The advice on the ActionFraud website is that victims must write to MCO at the London address at Portland House. Last week the address was Imperial House,15-19, Kingsway, London, WC2B 6UN. One respondent in an online forum went to that address, where there was no sign of MCO Capital, he states that it is a mailing address. is the Portland House address the same? The company can also be found listed at a Warwick address.
The trail leads back to :

Grundberg Mocatta Rakison LLP, Imperial House, 15-19,
Kingsway, London, WC2B 6UN, United Kingdom

Principal Place Of Business Grundberg Mocatta Rakison LLP, Imperial House,
15-19, Kingsway, London, WC2B 6UN, United Kingdom

There seems to be some confusion as to whether MCO Capital are actually licensed to lend the money they haven't apparently got - are they licensed or not?
Why would you suppose that a company which was really the victim of ID Theft in the thousands, would continue to advertise its loans (https://www.helploan.co.uk) without comment, and would still be accepting applications from people with information which proved to be factually incorrect at Experian? (In my case "years at address", in countless others Date of Birth, address details) . In my case, due to an address error by Experian, I was listed as "not on electoral roll".
Can you seriously imagine that any bona fide company would behave in this way? And in the circumstances make itself impossible to contact?
This is surely a monumental scam, and one that requires investigation?

caverncaperer

Prossimo Investments, who appear to be behind MCO, are an Estonian company. Check out their location on Google Maps - Tornimäe 5, Tallinn, 10145.

colinho

caverncaperer wrote: »

Prossimo Investments, who appear to be behind MCO, are an Estonian company. Check out their location on Google Maps - Tornimäe 5, Tallinn, 10145.

Nice one - should have guessed we'd end up somewhere in Eastern Europe.
Just spoke with Warwick Trading Standards, who say that they will investigate MCO Capital at the Warwick address. I'll obviously post any results.

colinho

caverncaperer wrote: »

Prossimo Investments, who appear to be behind MCO, are an Estonian company. Check out their location on Google Maps - Tornimäe 5, Tallinn, 10145.

Mmmm. Actually, if anybody had the time to dig up Tallinn Fraud Squad, and communicate the details of MCO Capital, and suggest that Estonia's image would be ruined if it should turn out that Estonian crooks were attempting to defraud thousands of British citizens, they may be able to help. Of course, in such a scenario, one should stick entirely to the facts, and merely state that suspicions have been raised by somebody elsehttp://images2.moneysavingexpert.com/images/forum_smilies/laughing-smiley-014.gif

geomacl

caverncaperer wrote: »

Prossimo Investments, who appear to be behind MCO, are an Estonian company. Check out their location on Google Maps - Tornimäe 5, Tallinn, 10145.

Now there's a surprise!!!!!
Well done Colin re your exchange with Westminster Trading Standards - I like your response!!!:beer:
It's George not Geoff

Elaine1965

There are many Tuomo Mäki led firms and in Estonia is a sister company whose name is identical or almost identical to the Finnish company. There is a morass of shell companies and holding companies in the complex network. The Finnish companies principal owners are rich Estonians that own Prossimo and TCF Holding. Prossimo Investments set up ABC Kapital, a company which flogs "off the shelf" companies. Kapital ABC has also created Finland based Ege Finance. As previously discovered, Estonia seems to be the base of the network. The CEO of Ege Finance lives in, you guessed it, Tallinn. 1Credit Oy is part of this network and they all do the same payday loan type stuff.

Perhaps of note is that the Estonian government outlawed "overpriced" loans with a cap on loan interest rates. Finland is obviously successful for them so they are looking for another soft market. Apparently Finland is to follow the Estonian idea of capping loan interest rates in December.

elfen

I think that emai lis also trying to tell you that the email you sent was received/noted on the day after you sent it (and yes, that is Finnish but I can't translate all of it)

colinho

Elaine1965 wrote: »

There are many Tuomo Mäki led firms and in Estonia is a sister company whose name is identical or almost identical to the Finnish company. There is a morass of shell companies and holding companies in the complex network. The Finnish companies principal owners are rich Estonians that own Prossimo and TCF Holding. Prossimo Investments set up ABC Kapital, a company which flogs "off the shelf" companies. Kapital ABC has also created Finland based Ege Finance. As previously discovered, Estonia seems to be the base of the network. The CEO of Ege Finance lives in, you guessed it, Tallinn. 1Credit Oy is part of this network and they all do the same payday loan type stuff.

Perhaps of note is that the Estonian government outlawed "overpriced" loans with a cap on loan interest rates. Finland is obviously successful for them so they are looking for another soft market. Apparently Finland is to follow the Estonian idea of capping loan interest rates in December.

Thanks for that Elaine - are you suggesting that MCO Capital is one of the "off the shelf" companies, or that it's a properly funded venture by the principals?

colinho

It gets madder.....

http://ohjelmat.yle.fi/mot/arkisto/mot_pikavippiparonit/kasikirjoitus

translate with Google, and after you've taken several asprins, it's a TV expose of the same outfit.