Bank Phone Scam Originates in Billings

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By Laura Kennedy

Story Published: Feb 3, 2011 at 8:26 PM MDT

Story Updated: Feb 4, 2011 at 4:49 PM MDT

BILLINGS - Each day the FBI and the Federal Trade Commission receive thousands of reports of phone and Internet scams. One recent case brought to their attention claims to be a bank located in downtown Billings offering loans.

Kevin Jaibur of Pennsylvania recently received a phone call from a bank called Montana Mutual, claiming to be located at 2825 3rd Avenue North, Sixth floor, in Billings.

They offered him a $4,000 loan with one stipulation. "Their private lender was going to require me to make the first three payments of $181 before they would release the loan amount," Jaibur said.

He looked into the bank and reported it to the Better Business Bureau. "This company is obviously an advance fee loan scam," BBB Regional Representative Zan Deery said.

KULR-8’s Laura Kennedy contacted the Billings number listed for Montana Mutual and asked for their exact location, they gave two answers. "Alberta 'Blair' Theater and ticket offices just make the left and we're right there," Montana Mutual Representative said.

When asked for further directions, the representative gave an address two blocks away from their reported address to a building that does not have a sixth floor. "Yes ma'am, the name of the building is Billings Gazette Communications," she said.

The Montana Mutual representative said they have held meetings with the BBB about the scam allegations but, "Montana Mutual is not in any communication with our regional BBB office and understanding that it's not in any communication with any other BBB," Zeery said.

Thousands of scams like the one that almost took Kevin's money are reported to the FBI daily and Zeery said buyers beware. "Be very, very wary because there are a lot of loan scams going on right now," she said. Zeery said never give out personal information or wire money if you receive unsolicited loan offers.

The FBI and the FTC are looking into Montana Mutual. The Montana Division of Banking and Financial Institutions also confirmed the scam. For tips on avoiding potential scams like this, click on Connections.

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