http://www.newser.com/story/172787/fake-bank-scamming-victims-out-of-hundreds.html
(Newser) – A new scam is
bilking people looking to rebuild their credit rating out of hundreds of dollars
by offering semi-secured credit cards then pocketing their deposits, TheStreet reports. The Treasury has sent a letter to US bank executives and federal and state
regulators warning them of the scam, run by an outfit named Freedom Gold Club,
which claims to be associated with a bank called Freedom 1st National Bank—which
doesn't exist—and also sometimes Credit One Bank, N.A., which does
exist but isn't actually involved.
Freedom Gold Club contacts
people by mail, offering them the secured cards for a deposit of $500 to $900.
When victims send in the money, "the checks are cashed by an individual using
the name of Bradford C. Ege II, and the victims never receive the anticipated
credit card," says the
letter.
