Thirteen Ontario lawyers have notified us that they received an email from the purported Margaret Brockman looking to retain them with regards to a breach of a business loan agreement.
This is not the Margaret Colvin Brockman that resides in Lebanon, Kentucky.
This is similar to other frauds of this kind we have seen. For a full description of how this fraud works and to see other names attached to it, see our Confirmed Fraud page that deals with business loan frauds.
Here is the initial email:
From: Margaret Brockman
Subject: Dear Counsel
Sent: May 20, 2013 2:03 PM
I am in need of your legal assistance regarding a breach of loan
agreement I provided a friend of mine in the amount of $750,000. He
needed this loan to complete an ongoing project he was handling in
January 2011. He now resides in your jurisdiction and the loan was for 24
months with interest accrued at the rate of 8.5%. The capital and
interest were supposed to be paid on January, 2013 but he has only paid
$50,000. Please let me know if this falls within the scope of your
practice, so that I can provide you with the loan documents and any
further information you need to know.
A lawyer who replied got this response:
Thank you for your prompt response. Kindly see attachment for the requested ID’s.
Fee accepted. In the meantime, send agreement for my review and if the terms and conditions meets my approval upon receipt; I shall make immediate provision for the fee.
I do not think this matter will result to litigation as he is not disputing the claim neither did he want to contest it. All I need is a reputable law firm like yours to act on my behalf as I am sick of his various excuses. He agreed to pay but kept giving me numerous excuses and turning me around. Each time he noticed I am about to seek a legal counsel to sue for breach of the agreement we had, he always come up the notion that he want to pay and the moment I cool off, he won’t come up with the payment.
Mr. Smith and I used to be in a relationship and we both used to live here in Kentucky. He later relocates to your jurisdiction in (Bough Beeches Blvd, Mississauga, ON L4W 4N1) area after our relationship broke down due to some personal differences and views about life and family just couple of months after the loan was released to him. I do not have his house # but I do have his email firstname.lastname@example.org. I have asked him for his present physical full address.
He has sufficient income, means and assets to satisfy a judgment for the balance of the debt. He is well to do business man but just wouldn’t want to come up with the balance on time as agreed. He owns properties here in KY, ON, and also in Michigan.
He emailed me agreeing to pay after I notified him of my intention to sue him for breach of the agreement we had. He had previously made several promises to come up with the payment and none he ever kept and that is the more reason I told him this time around, I am seeking a legal counsel that will retrieve this funds from him and if need be, litigate him for breach of the agreement.
I am seeking a counsel basically because it is taken much longer for him to come up with the settlement as agreed on the Promissory Note, and I know with a counsel involvement, these funds would be release as soon as possible without going to court. After I notified him of my intention, he had already requested for your firm contact details to enable him establish contact with you and set up an arrangement on how to remit the money he owed without delays or possible litigation.
Kindly send me retainer agreement for my review and if satisfied with the terms and conditions; I shall make immediate provision for the fee.
Thanks as I look forward in receiving the agreement.
How to handle a real or suspected fraud
If you have been targeted by any of these frauds, please forward any of the emails and supporting documents that you have received to email@example.com.
If you suspect you are acting on a matter that might be a fraud, call LAWPRO at 1-800-410-1013 (416-598-5899). We will talk you through the common fraud scenarios we are seeing and help you spot red flags that may indicate you are being duped. This will help you ask appropriate questions of your client to determine if the matter is legitimate or not. If the matter you are acting on turns out to be a fraud and there is a potential claim, we will work with you to prevent the fraud and minimize potential claims costs.
If you have been successfully duped, please immediately notify LAWPRO as there may be a claim against you.
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Fraud Fact Sheet More fraud prevention information and resources are available on the practicePRO Fraud page, including the Fraud Fact Sheet, a handy reference for lawyers and law firm staff that describes the common frauds and the red flags that can help identify them.