CANADIANFUNDINGCORPORATIONCOM FRAUD

Updated: 11/20/2008 16:53
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If you looking to buy properties or invest in real estate, just stay away from this website canadianfundingcorporation who claim they

If you looking to buy properties or invest in real estate, just stay away from this website canadianfundingcorporation who claim they are mortgage lending experts and can assist you to get funding solutions. The truth is, this website and the man behind it, Moishe Alexander a.k.a Sandy Hutchens a.k.a Moishe Hutchens is the main culprit and has a history of over 20 different cases involving numerous mortgage fraud, extortion and false acts against innocent people whom most of them are tenants, borrowers, or people who are unable to understand the complicated process created by Moishe for the purpose of scamming people. As stated on the website Jewishwhistleblower, Hutchens was sentenced to 2 years of house arrest and probation for some of his swindling and fraud actions.

He also recently has been prosecuted in Canada for collecting the advanced fees for loans that he agreed to commit but he never had the capacity to fulfill it. None of his companies have licenses to run such business in Canada or in the United States to give out loans.

In his recent scam, Hutchens has played major role in taking loans advanced fees illegally where a few large developers in the United States also involved in this scam. He essentially was referred as a large commercial lender with years of experience and more than 200 transactions with amount of up to $100 million.

One of his major strategies is pretending that he has several joint venture partners, including TD Canada Trust, which is one of the largest Canadian commercial banks. However, when contacted TD Canada Trust, they had denied ever being a joint venture with Hutchens or Canadian Funding and also has never been a joint venture partner with TD Bank Financial Group or one of its subsidiaries, including Commerce Bank United States. In fact, the attorney of TD Canada Trust has issued a notification to Hutchens to eliminate any mention of TD on the Canadianfundingcorporation website including all matters relating to TD, including a misleading letter of reference published by Alexander.

Here is a letter from TD Canada Trust confirming that they do not have any business relationship with Canadian Funding Corporation: "We confirm that none of 308 Elgin Street Inc., Canadian Funding Corporation, nor Moishe Alexander, also known as Sandy Hutchens, are joint venture partners of the TD Bank Financial Group, The Toronto Dominion Group, or any of its subsidiaries." His next scam strategy is to convince people to get a term sheet with an overview of how the loan will be financed by him confusing or complicated words that describes their rights as creditors and people?s rights as a debtor.

Usually Hutchens will ask for a deposit which around $50,000 to $75,000 to be sent directly to 308 Elgin Street. Upon completion of property appraisal, usually he charges $7,500 per appraisal which his company also has no license to do so, Hutchens will ask for a deposit amounting to 2% of the costs of loan administration fee. As of 9/5/08, there were more than $400 million in loan commitments was issued. Therefore, at a rate of 2%, it is estimated that almost $8 million has been gained by this scammer in this way. He asks that the money to be sent directly to him in Canada.

Once the money is received by him, his company?s lawyer will start working on the creation of mortgages and all legal documents for the completion of the agreement. This process normally takes a couple of weeks and when you think you are ready and close to the deal, he begins to make inquiries and requests that are out of reach or irrelevant to the deal. He also starts to confront and acting rudely towards you. He will tell lies, manipulate the facts, twist and turns his words and do whatever it takes in order to delay or disrupt his commitment for the loan after you paid him tens thousands of dollars throughout the process.

Even tough you have provided the necessary documents, it is still not enough. After he remains silent for a few weeks, he will contact you and ask from you some more information or verification that you can not provide. He will seek to find a way out of the commitment that he has promised you by manipulating you.

Here is one of the complaint filed by one of the victim of this scam on RipOff Report website: ?308 Elgin Street,Canadian Funding Corp. Canadian Career Criminal Sandy Hutchens ,Moishe Alexander is active in scamming consumers with his all new 'Advance Fee Mortgage Loan Scam' Thornhill Ontario



by EcommerceJournal (http://ecommerce-journal.com) Career Criminal Moishe Alexander AKA Sandy Hutchens is active in a new scam. In 2008 in South Florida alone he has scammed over $100,000. in Advance Fees for mortgages that he commited to and never funded. Of course the advance fees collected from the would be borrowers are forfeited and no loans have ever been funded.

The scam works like this: Sandy Hutchens who uses the name of Moishe Alexander to hide his criminal past contacts mortgage brokers in South Florida about his ability to fund mortgage loans anywhere from 100K to 25 million. He offers terms & interest rates far below the normal market price to intice borrowers. He offers a 'letter of intent' and a formally written 'mortgage commitment'. He will not proceed until the borrower pays up anywhere from $6500. to $40,000. depending on the loan size.

After he receives the money he drags on the process for months requesting mountains of documentation from the borrower hoping to wear down the borrower until he hopefully gives up or get a loan somewhere else. In the end if the borrower gives up he will say the advance fee is forfeited because the borrower did not give all the documents requested or that he went somewhere else for funding.

If the borrower perseveres and provides the endless months of mountains of paperwork, then he will find something wrong in the documents and accuse the borrower of misrepresenting something, thus the advance fee is forfeited. If you google keyword ' Jewish Whistleblower, Sandy Hutchens' you can read about his other scams. He gains confidence in his victims by representing himself as a highly spiritual and religious Orthodox Jew.

He claims to be the representitive of the Orthodox Community in Toronto Canada for money lending. He is also represented by a Large and Questionable Law Firm in South Florida that also help build his credibility. He is a very clever con artist. He has an answer for everything. The money is always forfeited and always through the fault of someone other than himself. He has never funded a single loan. It is doubtful as to his capability or intension of funding anything. Charging Advance fees for loans is against Federal Law in the United States.

Please report to the Federal Trade Commission if you have been ripped off by this individual. If enough reports are received the FTC and the RCMP (Royal Canadian Mounted Police) may take action to prosecute and shut down this scam.


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