Universal Escrow Inc.

Universal Escrow Inc. is a real estate escrow company. As of May 1, 2006, the company advised us they were victimized by a fraudulent internet scam purpetrater who assumed the identity of Universal Escrow. The fraudulent company advertises an employment opportunity via the internet seeking individuals to assist them with transferring escrow funds, or providing escrow services for on-line transactions. The scam purpetrator uses the name "Universal Escrow Inc." as well as the company's current address and website. They also use a DBA of Dollartime.com. Participants are instructed to provide their bank account information, or open a new account for the purpose of transferring escrow funds, or cashing checks. These false job offers have been scrutinized by the authorities, and have been determined to be fraudulent in nature. They are commonly called "Nigerian Money Laundering Scams." Participants are instructed to deposit phony checks or wire transfers into personal accounts, giving the company their account information, along with permission to debit the account. Many have reported their accounts were debited thousands of dollars by their bank, and they may face punishment or jail time as a result of participating whether unknowingly or not. This is also a clever way for the company to gain access to your bank account information. Once this information is received, they are empowered with the means to withdraw all monies from your account.

If you have been victimized, we suggest you immediately report the incidence to the computer crimes division of your local police or sheriff's department, and to the FBI, and Secret Service. Take immediate steps to protect your identity. Close your bank accounts, send letters to the credit reporting agencies explaining your problem. The Federal Trade Commission (FTC), offers a complete kit containing forms, template letters and instructions on reporting identity theft, and how to protect your personal financial information. The information is available by calling the FTC at 877-382-4357, or visit their website at www.ftc.gov or www.consumer.gov/idtheft/. If you have been victimized by this scam, please contact Detective Terry Willis, at the Los Angeles Police Department's Electronic Crimes Division at 213-533-4650.

This company should not be confused with the legitimate Universal Escrow Inc..