Precision Financial, Redeem Home Inc., Tommy Simmons, Richard Magg
Loan/ mortgage scam, stolen deposit

Ad ad appeared in the Mohawk Valley Pennysaver, offering loans for people with "bruised" credit. I called and applied over the phone, and was told that I would have an answer in 3-5 days. Three days later I received numerous phone calls from the company, first from Richard Magg, offering me a loan in the amount of $17000.00, then from Tommy Simmons in the amount of $18, 000.

Both men faxed contracts from Precision Financial. Interest rates were only 5.5%, with a 10 year payoff. I was told they were a private group of investors, and the loan would only be available for 2 weeks. I was to sign the contract, fax it to them, and send them a security deposity of $1400.00 via Western Union. I guaranteed the money in my account within 48 hours.

Needless to say, the money never appeared. When I phone, they wanted more money, which I refused, and requested my initial deposit back, at which time they hung up. They no longer take my phone calls, even though I have left numerous messages. If you see an ad for Redeem Home Inc., or any loan program like this, please report them. They are being investigated by a variety of Canadian and American law enforcement agencies.

Company: Precision Financial, Redeem Home Inc., Tommy Simmons, Richard Magg
Country: Canada
Province: Ontario
City: Toronto
Address: 800 Jarvis Street West
Phone: 6478966081

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