The Florida Office of Financial Regulation today announced that William Wren surrendered to the Hillsborough County Jail on four felony charges of assessing or collecting advance fees as a loan broker.
Alex Toledo, OFR Acting Bureau Chief of Financial Investigations, said “Collecting an advance fee for the promise of a loan is illegal in Florida. Our office will keep fighting to ensure Floridians are protected from these types of financial scams.”
William Wren, sole operator of Tampa-based B&Z Investment Group, LLC, doing business as Business Loans Solutions, allegedly collected fees in advance of a closing from victims, primarily chiropractors seeking financing to expand their businesses. Wren purportedly failed to close on any loans for the prospective borrowers.
The case is being prosecuted by the Hillsborough County State Attorney’s Office.
If you’re the victim of a financial scam or if you suspect questionable financial business practices, please file a complaint online at flofr.com, or call OFR (850) 487-9687.
About the Florida Office of Financial Regulation
The Florida Office of Financial Regulation provides regulatory oversight for Florida’s financial services providers. Our mission is to protect Floridians, promote a safe and sound financial marketplace, and contribute to the growth of Florida’s economy with smart, efficient and effective regulation of the financial services industry.