I put down a deposit of over $3K for a loan I didn't get!

Anonymous | 15 Jan 2019

Loan Scam
I needed a loan and responded to a so called legal moneylending service i received via Whatsapp. (A chinese guy who called himself william)

I enquires about a $5000 loan with 12 months repayment. William told me i have to undergo a trial loan. He transferred $500 to my account on 10th jan and i have to repay $800 on 13th Jan. The additional $300 will be credited back to me once i cleared my trial loan.

On 13th jan i cash deposit $800 to an UOB account he provided. However, once i did that he say i should not cash deposit and should do bank transfer instead. In order to clear my trial loan, I have to cash deposit another $800 into a Posb account. Which i stupid enough to do so. I was foolish to think its will settle and i will get my loan.

After the 2nd $800 was cash deposited as instructed, william told me i need to pay $500 of processing fee. Which i did on 14th jan. Yet after that i still did not get the $5000 loan. William told me his boss ask me to pay $1000 as penalty for all the trouble.

Stupid me paid and guess what.. William called again saying since i paid so much, they have upgrade my loan from $5000 to $10000. He asked for another $1000 processing fee.

This time i told him i have no money to give. And i said to just stick to $5000 loan which i never receive. But he said amount already keyed into their system and he cant change. After which he get his "boss" to speak to me via watsapp voice call. The boss demanded either i pay $1000 process fee or $2500 to revert to $5000 loan. I told him i have no money and he threaten to go to my company and call my next kin.

I paid $3100 without getting the loan. I had made a police report and the police only advise me to ignore them and don't give anymore money.