Sorrell says lender a liar

John O'Brien Mar. 30, 2007, 2:45pm

MONTPELIER, Vt. - When Vermont Attorney General William Sorrell tried to investigate Liberty Capital Lending, he says he discovered the most basic of problems.

Sorrell said the company is registered at 37 Precision Drive in North Springfield, but there is no such address. Also, his attempts to reach the company by phone have been unsuccessful.

The company offers personal loans ranging from $5,000-$85,000 and business loans of $5,000-$250,000, then charges a fee of $900-$2,000, Sorrell said.

Customers are then instructed to wire the money to Ontario, Canada, for pickup, though Sorrell says his office has received complaints that consumers never receive the loan.

Sorrell has taken the company's Web site down.

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