Mug Shot Monday – Loan Broker Charged in $3 Million Advanced Fee Scheme

September 29, 2014

By Bob Coleman
Editor, Coleman Report

prison032013-2Over 20 small businesses were ripped off by a Connecticut loan broker alleges the feds.

Todays perp, who already has spent 41 months in jail for bank fraud and money laundering, originally used the address of an abandoned building in Dayton Ohio to transact his business.

Subsequent addresses included UPS stores and virtual offices.

The con was simple. David Jackson claimed he had access to $100 million in loan guarantees from banks to fund various ventures.

If you wanted a part of the fund, simply pay him a fee that he would of course escrow. If he couldn’t deliver, he promised to refund the fee.

Desperate loan seekers paid fees ranging up to $400,000.

Of course, it was all a sham says the feds.

Jackson has been detained since his August arrest.

He faces a maximum of 25 years in prison.

Read the Criminal Complaint