Tampa Area Loan Broker Arrested in Alleged Advance Fee for Loan Scam
08/28/2019
Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that William Wren surrendered to the Hillsborough County Jail on four felony charges of assessing or collecting advance fees as a loan broker.
Alex Toledo, OFR Acting Bureau Chief of Financial Investigations, said “Collecting an advance fee for the promise of a loan is illegal in Florida. Our office will keep fighting to ensure Floridians are protected from these types of financial scams.”
William Wren, sole operator of Tampa-based B&Z Investment Group, LLC, doing business as Business Loans Solutions, allegedly collected fees in advance of a closing from victims, primarily chiropractors seeking financing to expand their businesses. Wren purportedly failed to close on any loans for the prospective borrowers.
The case is being prosecuted by the Hillsborough County State Attorney’s Office.
If you’re the victim of a financial scam or if you suspect questionable financial business practices, please file a complaint online at www.flofr.gov, or call OFR (850) 487-9687.
