Date This Problem Happened: September 20, 2011
State You Live in: Virginia
Age Range: 66+
Total Amount of Fee Paid: $3,500
Company Name: Novawave Financial Solutions
1200 Brickell Avenue
Miami, Florida 33131
Company Telephone Number: 800-354-8231
Website of Company: novawavesolutions.com
Received a call from Novawave Financial Solutions telling me I could get a personal loan for $145,000.00 to pay off my mortgage. But…first I had to send them $2000 for a show of good faith and was assured I would get the loan and the money would be in my account in one day. I sent them money via Western Union. Money never was deposited. I called them and they said that I had to purchase insurance in case I had a problem in paying them due to disability. I sent them another $1500. Money would be in my account in 5 to 8 hours. Money never came. I called and they said I had to send more money. I refused and asked for my money back. They said it would take 10 to 15 days to receive a check. Check never came.
Consumer Action Taken:
I called and left messages to please call me and they have not returned my call. Have filed a complaint with the Better Business Bureau. They said their letter was returned “not at this address”. I have filed a criminal complaint with my local police department but they say not enough money to inform the FBI as the company is in Florida.
This appears to have all the red flags of an international loan fraud setup. I noticed the convincing but alleged loan document referred to the fee you had to pay in USD (United States Dollars) which is very odd for a U.S. company to say, the domain name is hidden through a company in Australia and the server is located in Canada.
I can’t locate anything about a legitimate office space at that address and there is no company registered to do business in Florida under the name Novawave Financial Solutions.
I would suggest you immediately contact the Attorney General office in Florida and file a complaint against this company.
Anyone considering using this company and sending money in advance for a loan should beware that this appears to not be a legitimate lender and is most likely a scam.
The website appears to be geared towards people that have otherwise been turned down for a loan, have bad credit, or are desperate to get a loan. These candidates are the most likely victims of an advanced fee loan scam.
I hate to be the bearer of bad news but I think you’ve been had and the chances of recovering your money if this is, as I suspect, an international operation, are slim to none.
We sent a letter to the company at the address given by the consumer and asked them to publicly respond to this complaint.
Novawave Financial Services Update 12-6-2011
Letter to Novawave was returned.
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