MCO Capital loan

grahamqat

Hi Geomacl, did all that too, but am still expecting the third letter from IJ.

geomacl

grahamqat wrote: »

Hi Geomacl, did all that too, but am still expecting the third letter from IJ.

I'd be very surprised if you heard any more grahamqat!!

grahamqat

Call me synical but these guys are persistant

grahamqat

Having looked at many people's inputs - thanks - here is my latest theory from the ground up.

Register MCO at Companies House so it looks legit.
Register a "Non-trading" SIC code so minimal accounts can be returned.
Get 2 web-sites "Helploan and Balanceloan" up-and-running.
(These are designed to attract genuine but mainly ID fraudsters).
Collect the 2 x £6 SMS money from both genuine and ID fraud applicants.
Run the scheme up to 10,000 applicants. (£60,000 revenue).
Dont loan any money but post on some forums that money has been received to enforce image of a legit operation.
Use a hijacked bank account to pay for checks with CRA's.
(This sifts out the ID fraud applicants who have good credit ratings from the genuine applicants who have nothing).
Send first letter to all ID fraud applicants.
A 1% strike rate will net £50,000.
If anyone contacts MCO - this confirms name/address and maybe even e-mail / signature - all good for loan report.
Send second letter - may net further revenue.
Sell everything to IJ at 10p/£ netting £0.5M. - dont know how far this process has gone.
Retire to warm climate with no extradition treaty, while authorities still think you are the victim and are feeling sorry for you.

Just a theory trying to explain the unexplained. Please find flaws, citicise etc as this is the way we can refine it to a working model that does address all the hitherto unexplained things that have happened.

grahamqat

Sorry forgot, additional revenue stream, sell all ID fraud names/addresses and credit ratings to other criminals?

grahamqat

Further thought - you may think I'm being hard on the authorities. Everyday that the Helploan and Balanceloan web-sites are still running; they haven't even started to contain this scam - check for yourselves. Nothing negative directed towards AF - they're good but I know are as frustrated as we are at the incredibly slow progress of NFIB.

geomacl

Methinks we will have to keep a wary eye on our dear colleague - grahamqat - he seems to be developing the mindset of a dastardly fraudster:eek:. I suppose if you live with and follow this issue up, it's inevitable that we start to think like the villains - and that is what they are VILLAINS.
Grahamqat - much of your theory is undoubtedly true but we really don't know for sure - and it's time that the authorities (NFIB, CoLP etc) let us in on the truth. All we can do at present is conjecture and help others in our position and direct them towards the appropriate action(s). hope that others visiting this forum find the advice useful and worthwhile - end of post G&T rant:cool2:

geomacl

grahamqat wrote: »

Further thought - you may think I'm being hard on the authorities. Everyday that the Helploan and Balanceloan web-sites are still running; they haven't even started to contain this scam - check for yourselves. Nothing negative directed towards AF - they're good but I know are as frustrated as we are at the incredibly slow progress of NFIB.

You are so right grahamqat - why on earth these sites have not closed down is both a mystery and an outrage - it merely brings even more innocent people into this morass of deceit and fraud. It's particularly bad that ever more letters are beinjg sent out in the names of MCO Capital/helploan etc.:mad:

Debtfreeatlast_2

Despite all the conspiracy theories, can I offer advice to anyone getting letters or just had a letter. your first, and your most urgent THING to do is get a months FREE trial account with Credit Expert (you can cancel once its sorted), then send a report to them stating all the facts about MCO, and request they contact MCO on your behalf to dispute the Search and Loan accounts. This will stop any further contact from MCO and will make it impossible for them to do anything. If they are legit or scammers the last thing they want is to lose their Credit Agency.

grahamqat

Thanks for the kind words Geamacl, (not sure about the "mindset of a dastardly fraudster" bit though). I actually have the mindset of an engineer, I dont like things/events that cant be explained. The theory is just a theory; it's an attempt to build a possible model of the scam operation so that all the peices of the jig-saw fit together. At some stage you have to decide who the victims actually are and I'm not convinced that NFIB have got there yet, particularly if you read their latest guidance on the AF web-site. As you say we can do no more, just wait for the authorities to eventually sort this out.