The Nebraska Department of Banking and Finance has issued a Cease and Desist Order against Lincoln Closing and Escrow Services (LCE) which it suspects of attempting to defraud consumers.
Lincoln Closing and Escrow Services claims to be based as 1248 “O” Street in Lincoln. The Banking and Finance Department has determined no such company exists at that location.
A consumer alerted the department about the company, stating that LCE offered to help him sell two timeshares in Mexico. LCE informed the consumer that the Mexican government required payment of taxes before it would release proceeds. LCE presented documentation allegedly obtained by the Nebraska Department of Banking and Finance, which the department determined to be fraudulent.
The department says the license stated that LCE was a trade name of Skrill USA, Inc. (Skrill), which is a legitimate, licensed money transmitter. The department has not licensed LCE and LCE is not affiliated with Skrill or any other licensed money transmitter.
Department officials caution consumers to be wary about doing business with companies with which they are unfamiliar. Often, those companies are attempting to solicit personal information to use in identity theft.
Consumers are urged to report money transmitter scams to the Nebraska Department of Banking and Finance by calling the NDBF Consumer Hotline toll free at (877) 471-3445 in Nebraska, or (402) 471-2171 out of state, or by visiting the Department’s Website at ndbf.ne.gov and completing the Financial Institutions complaint form.
Consumers may also contact the Federal Trade Commission at 877-FTC-HELP (1-877-382-4357) to file a complaint.
The Nebraska Department of Banking and Finance says that before doing business with a company online, consumers should verify the license status of the company on the Department’s Website or by calling the consumer hotline.