The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Scam alert: DFI says don’t trust Manchester Capital Trust of NYC

Post by C.R. Roberts / The News Tribune on Jan. 31, 2012 at 2:03 pm with No Comments »
January 31, 2012 2:03 pm

The lesson is: Don’t send them money via Western Union and don’t give them personal information unless you’ve checked their credentials.

The state Department of Financial Institutions on Tuesday said it has received complaints from consumers regarding Manchester Capital Trust.

The complaints allege that consumers receive an e-mail or a telephone solicitation announcing that they are pre-qualified to receive an unsecured loan. The consumers then contact the company, which confirms that a term of the loan is that a certain number of months of payment must be provided to the company in advance.

Occasionally, the consumers are told that an international company needs to receive the initial payments before it will release the funds. The consumers send the payment via Western Union, and then never receive the amount of principal for which they had supposedly qualified.

Manchester Capital Trust’s website is apparently now defunct. According to the website and consumer complaints, its office is located at 1350 Avenue of the Americas, 14th Floor, in New York City. The state agency has confirmed that Manchester Capital Trust is not at that location. Its telephone number has been disconnected.

Manchester Capital Trust is not licensed with DFI as a consumer lender. DFI has been unable to contact any individuals related to this entity.

DFI strongly recommends that residents verify the license of any lender with whom they are considering doing business. Consumers are urged to verify licensing status prior to giving the lender nonpublic personal information such as Social Security number and checking account access.

You can verify a license with DFI – or check any suspicions – at or by calling 877-746-4334.

If you feel you have been the victim of a loan scam, contact the Federal Trade Commission at 877-382-4357, or online at

If you feel you have been the victim of a loan scam involving the Internet contact the Internet Crime Complaint Center online at

Leave a comment Comments
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part and abiding by these simple rules.

JavaScript is required to post comments.

Follow the comments on this post with RSS 2.0