FBI searches three companies suspected of telemarketing scams

FBI agents on Wednesday raided three Las Vegas companies suspected of being involved in telemarketing scams that promise to help struggling businesses across the country obtain a variety of federal funding, including stimulus grants.

Agents began executing search warrants in the morning at Silver State Holding Co., SBA Consulting Services, and Foundation Research Inc. and remained at the companies most of the day.

No arrests were made, but agents carted away computers, boxes of documents and other items at one site.

FBI spokesman Joe Dickey confirmed that agents conducted searches, but he wouldn't comment further.

Edie Cartwright, a spokeswoman for the Nevada attorney general's office, which participated in the raid, said the searches were part of a "multi-agency law enforcement investigation" led by the FBI.

All three companies raided have websites that offer financial consulting services to businesses, as well as help in obtaining Small Business Administration loans and other federal funding.

An Internet search found complaints on all three companies from people who alleged they were ripped off. Some people complained they had trouble reaching the companies after paying them, and never got the grants they were promised.

Southern Nevada is said to be a hotbed for scammers using telemarketing tactics to prey on small businesses seeking financial help to stay afloat. There are dozens of such companies in the valley suspected of scamming millions of dollars from businesses.

Typically, the companies ask for money up front and then solicit more fees while making false promises to help the businesses get through the federal funding process, according to a former worker at one company who asked to remain anonymous.

Some of the telemarketing firms change their names, move to other locations or start new companies to stay ahead of authorities.

Clark County records show that Silver State Holding Company obtained a business license on June 23. It listed its address at 6330 S. Sandhill Road in Las Vegas. Agents on Wednesday searched the Sandhill address and another company address, 2505 Chandler Ave.

On its website, the company boasts of "transforming your life while helping your business thrive."

Silver State Holding says it has "over a decade of experience in the grant writing business" and offers services to nonprofit and "small and medium-sized for-profit businesses."

The Better Business Bureau reports it has received eight complaints against the company and gives it a C+ rating.

SBA Consulting Services obtained its county business license on Feb. 3 and also listed its address at 6330 S. Sandhill Road.

"With over 50 years of combined experience, our expert business analysts will help you determine which loan product is right for you and your business needs," the company's website says. "Let us simplify the loan packaging process for you by helping you identify your funding requirements, assess your eligibility for an SBA loan, help you create a winning business plan, professionally prepare and complete the application and submit the application to the SBA."

The Better Business Bureau gives SBA Consulting Services an F rating and says it has received 16 complaints about the company.

Foundation Research Inc. which listed its address at 2785 E. Desert Inn Road, received its business license from the county on March 31. That address was part of Wednesday's FBI raid.

On its website, the company bills itself as the "expert solution to your financial empowerment needs."

It describes itself as a "professional firm that provides superior comprehensive grant writing services" and a myriad of financial consultation services to nonprofit agencies, businesses and public entities."

Foundation Research, which claims to provide clients with accessibility to trustworthy and current funding resources," is not listed in the Better Business Bureau's search database.

The operators of all three companies raided on Wednesday could not be reached for comment. Recorded messages were not returned.

Contact Jeff German at jgerman@reviewjournal. com or 702-380-8135 or read more courts coverage at lvlegalnews.com.