SCAM ALERT

Fraudulent Activity Using a Legitimate Business’ Name

The Financial Institutions Division (FID) has been alerted to a scam on Telegram using an expired, altered New Mexico small loan license and asserting to be the “LendingClub”. This is a scam.

LendingClub is a legitimate, publicly traded company based in San Francisco, CA. However, the party on the other side of the fake "LendingClub’s” Telegram profile does not appear to be a representative of the actual LendingClub. Likely, the party copied LendingClub's information and altered the license to look like LendingClub, then used the faked license as a prop to aid in the scam.

FID does not issue a “Microfinance License” and the New Mexico small loan license on which the forged license was based was issued in 2019. Small loan licenses expire annually on June 30th. As can be seen in the attached image, the expiration date has been removed, leaving a void in the background image. Additionally, the font at the top labeling it as a “Microfinance license” does not match the font in the rest of the license template and is clear, while all the other print on the license is out of focus.

In reviewing the fake "LendingClub's" information listed on the Telegram App, the lone identifiable person on the fake "LendingClub's" Telegram page is “Samuel Williams”. However, according to Google Lens, the picture of Samuel Williams is an image used on Bankrate.com, as well as to sell blue light lenses on Stacksocial, albeit with the picture photoshopped to tint the lenses yellow.

We urge anyone who has given their personal information to the fake “LendingClub” on Telegram ensure that their identity is not being used fraudulently. If you are or believe you are a victim of identity theft, please file a report with the Federal Trade Commission (FTC) at www.ReportFraud.ftc.gov.

Image Text (Exemplar of Fake License)

• Microfinance license
• License Number: 02053
• Issued by: State of New Mexico, Regulation and Licensing Department, Financial Institutions Division
• This is to Certify that: LendingClub Corporation d/b/a:
• With its office at: 595 Market Street Ste 200, San Francisco, CA 94105
• Text: Has qualified under the provisions of the New Mexico Small Loan Act of 1955, and authority is hereby granted to operate a loan business at the above address only, in conformity with the provisions of said Act.
• Text: The license constitutes and shall be construed as a grant of revocable privilege only to be held and enjoyed subject to conditions, restrictions and limitations contained in said Act and the lawful rules and regulations promulgated by the Director of Financial Institutions Division, there under and not otherwise.
• Signed in Santa Fe, New Mexico, on April 11, 2019
• Director: Christopher Moya