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News Release

For Immediate Release
April 27, 2010

Contact:
Assistant Attorney Karen Gorham
(603) 271-1196

Laconia Loan Services Scam Warning

Attorney General Michael A. Delaney and Banking Commissioner Peter Hildreth wish to warn consumers about Laconia Loan Services, an internet loan scam which purports to offer loans which require individuals to pay a large fee upfront.

The Attorney General's Office and the New Hampshire Banking Commission, as well as the Laconia Police Department, have received complaints about Laconia Loan Services from consumers who, thinking they are going to be receiving a loan, have wired large amounts of money through Western Union to addresses in Spain given to them by Laconia Loan Services. After wiring the funds, Laconia Loan Services has failed to provide the loans to the consumers.

Laconia Loan Services is an internet loan company which uses a Laconia, New Hampshire address on its paperwork, but is not located at the address they use. Laconia Loan Services is in no way affiliated with Laconia Savings Bank.

The Attorney General's Office and the Banking Commission arranged to have Laconia Loan Service's toll free telephone number shut down, but the business has already obtained another toll free number. The business's Web site address has also been closed down.

Consumers are urged not to do business with Laconia Loan Services or any other internet loan business without first contacting the Attorney General's Office or the Banking Department.

The New Hampshire Attorney General's Office and the New Hampshire Banking Department have been conducting a joint investigation.


New Hampshire Department of Justice | 33 Capitol Street | Concord, NH | 03301
Telephone: 603-271-3658