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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 46809
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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I have been offered a business loan of €300,000 from Prisca.

Resolved Question:

I have been offered a business loan of €300,000 from Prisca. Mario Finance Services @ gmail.com. They promote themselves through linkedin
I would like to know if this is a legitimate loan company or is it just a scam company looking for upfront fees.
We have been having a lot of email contact over the last few weeks, business loan approved etc, just waiting for draw down.
So I would like to confirm if I should go ahead or not.
Regards,
XXXXX XXXXX
Submitted: 3 years ago.
Category: Law
Expert:  Ben Jones replied 3 years ago.

Ben Jones : Hello, my name is XXXXX XXXXX it is my pleasure to assist you with your question today. Do they have a website?
Customer:

Hi Ben, No they do not have a website, They only operate through linkedin, and I suppose this is where I thought they are legitimate, as I would have expected LinkedIn to have screened out fraudlent activities, but I stand to be corrected.

Customer:

They only operate through the email address [email protected]

Customer:

Good morning, Ben, when can I expect an answer to my query above

Ben Jones :

Good morning, sorry I was offline last night, just preparing my response now

Ben Jones :

Have you actually been asked for upfront fees?

Customer:

Hi Ben, thanks for the reply, not used to this type of system, They have asked for €700 upfront to cover barrister fees. This service is very prominently advertised on linkedin. Look forward to your advice. Mike

Ben Jones :

Please do not assume that because they are operating via LinkedIn, that they are a legitimate business. The website may have some screening tools to try and reduce the number of scams operating through it, but this is certainly not 100% effective and there are many reports of fraudsters still operating via the site. With the anonymity of the internet it is very easy to bypass many screening efforts and you should always be on guard.


 


The first red flag is that you mentioned they have asked you for upfront fees. If you are getting a loan there is no need to pay upfront fees or to have a barrister involved – no High Street bank would ask for that or have a lawyer involved so there is no need to do this here either. It is the most common way to identify a scam.


 


I have also checked their profile on LinkedIn – they claim to be operating from London. There is no company with that name registered in the UK and no online returns for them anywhere apart from on LinkedIn. So there is no way of checking their authenticity in any way and it could easily be someone who has set up a profile and running this from their bedroom.


 


For the above reasons I would most certainly not deal with them if it was me and I suggest you do the same.

Customer:

Hi Ben, Thanks for that, it is good advice, I understand the reasons you have given, but is there any way to definitely say they are a scam or legitimate . Regards, Mike

Ben Jones :

Not until you lose the money. There is no information about them that you can use to independently verify who they are - they are just working through LinkedIn and that on its own is not enough to give you 100% guarantee of who they are. With many scams you cannot tell for certain until you have been stung so that is why it is best to avoid those suspicious ones

Customer:

Hi Ben, Thanks for that & your advice, I may just ask them some more questions to see if I can tease them out a little further,

Customer:

I suppose it just seems too good to be true. Regards Mike

Ben Jones :

you are welcome. A good idea would be to probe them over these barristers fees - who is the barrister, ask to speak to them directly, get a name, look it up to see if they are genuine, and so on

Ben Jones :

Please let me know if this has answered your original question or if you need me to clarify anything else for you in relation to this? Thanks

Customer:

Hi Ben, that's ok for now I will do a little more homework. Regards, Mike

Ben Jones :

You are most welcome. Please take a second to leave a positive rating for the advice I have provided as that is an important part of our process. Thank you and feel free to bookmark my profile for future help:



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Ben Jones, UK Lawyer
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Experience: Qualified Solicitor - Please start your question with 'For Ben Jones'
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