Tampa Business Loan Broker Arrested

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William Robert Wren was charged with four felonies on August 21st for engaging in an alleged advance fee loan scam. Wren, a business loan broker for a company doing business as Business Loan Solutions in Tampa, FL, surrendered to the authorities last week and was released on his own recognizance according to county records.

A representative for the company said that Wren had left the firm earlier this year in January.

The felonies span the time period of August 2017 through January 2018 and allege that he did “unlawfully possess or collect an advance fee from a borrower to provide services of a loan broker.”

In a public announcement, 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.”

The case is being prosecuted by the Hillsborough County State Attorney’s Office. The defendant is presumed innocent until proven guilty.

Last modified: August 30, 2019

Category: Industry News

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