Robin Erickson, an arizona snowbird, recalls the new slope she got off this lady existence-insurance professional from the LoanGo, a business web sites pay day-financial institution.
The latest Install Vernon, Arizona, resident said she try informed that capital manage generate an 18 percent return, and you can she “more than likely” carry out score her money back when you look at the annually.
“We loaned him $30,one hundred thousand, and i have not read from him given that,” Erickson, a resigned primary-university teacher, told This new Arizona Republic from inside the a phone interviews.
Allegations of fraud
The Washington Organization Commission’s Bonds Department alleges one to Erickson and five most other earlier investors were defrauded regarding a mixed $250,000 immediately after and also make investments last year and you can 2012 having LoanGo. They all lived at the Wilderness Tincture Camper Resort inside the Casa Grande, in which however they attended economic considered seminars, ideas let you know.
The full percentage commonly tune in to the outcome Saturday. New commissioners need to pick whether to undertake a management-laws judge’s findings on number.
New Securities Office, and this registered their instance during the , alleges you to former Valley insurance professional Justin Billingsley and LoanGo enough time securities con by simply making misrepresentations in order to buyers and neglecting to disclose secret recommendations.
Spouse Jeff Peterson, LoanGo’s chief executive and you can panel chairman and you may maker of single internet feelings Quepasa, are implicated in the case of offering unregistered bonds while not being a registered bonds broker. A 3rd individual, Valley business person John Keith Ayers, are titled on account of their control when you look at the now-defunct LoanGo, which operate within the Chandler.
Administrative Legislation Judge Scott M. 続きを読む