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Williams John Frederick III


Country United States
State California
City San Cremente
Address 506 E Avenue Pico Apt. 1246
Phone 714-408-2454

Williams John Frederick III Reviews

  • Apr 20, 2018

On 3/03/2018, Williams John Frederick III sent an email to my business email address and wrote that he was a legitimate private lender and capable to fund any business and person with almost no cap limit. He proposed a long term loan for our business for $1.0M at 5.00% p.a. for 5 years. Explained that the only fee to be paid prior to the loan disbursement was $1,000 as application fee. Then the loan agreement was concluded on 4/06/2018 but additional undisclosed transaction fee $2,600 to be paid prior to the loan disbursement. But, even when we paid such unfairly disclosed fee, the loan disbursement was deferred with no reasons explained. After such closing, the person came up with another security fee $2,500 must be paid prior to the delivery of loan fund. As I knew such unfair undisclosed fee collection upfront was illegal and violation of lending business regulations, I rejected and requested an immediate cancellation of the loan transaction but he started to keep silence and no contact for a week. Lately, he came back and told "If you really need this funding, I can work on but you must pay $2,500 fee upfront." As we were urgently in need of working capital funding to our business, I reluctantly accepted the fee and paid. But still the loan was not delivered despite the same day delivery of my payment $2,500 and their loan fund was fully agreed.

When I complained the non-delivery of loan, he again kept silence for a week and as of today (4/21/2018) he sent a text to me and told, "Well we have a little problem here. You need to pay $1,500 for security deposit to complete the loan transaction". Having known already that his behavior was very unprofessional and scammer-like, I immediately rejected his request and told the loan transaction is now cancelled and you must return all the fees paid for $6,600. After a month and a half of time wasted but at the end he revealed that he was nothing to do with a legitimate and truthful lender and was a mere loan scammer. Just for the reference of everybody who may be involved in his approach and personal loan/business loan offer, his company Kay's Financial Services in CA is a registered company, but its corporate registration does not show anything about Williams Frederick. He just pretended as if he were a part of the company but nothing was true. In addition, he sent a lender licence in CA (mortgage lending officer as entitled) but it was a toy like fake. As a result of 2 months practice, the loan was never delivered and we are taking actions aganst the man seeking recovery of $6,600 stolen.

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