SALEM, OR – The Oregon Division of Financial Regulation is warning consumers about fraudulent activity from an alleged Internet-based mortgage lending and consumer finance company that is committing an advance fee scam, as well as impersonating a legitimate company.
The division has received five complaints from victims of the advance fee scam. Four of the five complaints were filed in the past year. The scammers have co-opted the name and address for a real Portland-based company named Canyon Investments. The real Canyon Investments has nothing to do with the lending scam.
The fraudsters, whose identities the division has not been able to determine, have set up an imposter website to make it look like the real Canyon Investments. They use Voice over Internet Protocol (VOIP), phone apps, spoof emails, and stock photos to give the appearance of a legitimate company offering funding for real estate purchases and investments. The real Canyon Investments does not have a website and does not offer loans to consumers.
As part of the fraud, the scammer convinces its victims they have been approved for a loan, but, in order to receive the loan funds, the victims must pay various upfront fees. Those fees are not sent directly to the scammer or the purported company, but rather to accounts in the names of people who serve as intermediaries in the…