Advanced Merchant Funding/ProgressiveMedia Group
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Just read a report from a gentleman who invested with Advanced Merchant Funding/ProgressiveMedia Group and now believe, I too, have been scammed by this group. It involves purchasing loan packets from lending companies for companies turned down for loans. These companies would be contacted by specialists with Advanced Merchant Funding to offer them loans using government stimulus money. They also could purchase credit card machines which would pay a residual amount each month. I was told that a return on my investment would come with a few weeks. It has been since January 11, 2012 and no return. Fifty something files have been sent over and according to Tom Wilson who I talk to every 2 weeks, one is about to be completed. That was approximately 2 months ago; still nothing. He is on vacation now and I'm waiting to hear what yarn he has when I call him back next week. No income as yet.
I have been told that about 80-90% of the opportunities that come to you by phone or via the internet are scams. Be careful out there and do you due diligence. I thought I had when I checked this group out before investing $2,500 I don't have but found nothing. I hadn't found this site. Please, if you've been scammed report it so people like this other gentleman and myself don't get caught in these scams. I'm retired and can't afford this loss. Scammers could care less about you.