Advance Fee/Commercial Mortgage Fraud Alert

It has come to our attention that one or possibly more individuals are engaging in a fraud upon the public in the name of AXA Private Equity, LLC. The individual or individuals are posing as “vice president,” “executive vice president” or “senior vice president” of AXA Private Equity, LLC, and are targeting individuals seeking funding for large scale projects, such as construction and real estate projects. The individuals seeking funding or “borrowers” are located in various states across the United States.

In furtherance of the fraud, the individuals posing as “vice president,” “executive vice president” or “senior vice president” of AXA Private Equity have:

• Contacted individuals looking for funding after “borrowers” sought funding for a project by posting information on www.brokeruniverse.com and www.brokeroutpost.com.
• Forwarded paperwork with the AXA Private Equity logo and/or the AXA Investment Managers logo to the “borrowers”
• Communicated with the “borrower” via phone, fax and/or e-mail
• Requested that the “borrower” wire a certain amount of money, which represents a “due diligence/commitment fee”, to a designated bank account. Shortly after the wire payment is made, the fraudsters discontinue any contact with the “borrower”
• Possibly obtained personal information of the “borrower” including driver’s license and Social Security information

We know that the individual or individuals posing as “vice president,” “executive vice president” or “senior vice president” of AXA Private Equity, LLC have used the alias “Donald Sachs” with an address in San Francisco, California and have requested that the “borrowers” wire funds in the amount of $20,000 to a Bank of America account in California.

Additionally, we know that the individual or individuals posing as an employee of AXA Private Equity have also used the alias “Adam Long” with an address in Denver, Colorado and “Stephen Thomas” with addresses in New York, New York, Chicago, Illinois and Indio, California.

AXA Private Equity does not serve as a lender or guarantor in transactions of these types. Furthermore, it is not in line with AXA Private Equity’s general business practices to request a “due diligence/commitment fee” as has been done in these cases of fraud.

AXA Equitable and AXA Private Equity have reported this matter to law enforcement authorities. If you have been contacted by an individual using one of the aliases above and posing as an employee of AXA Private Equity, you should contact local law enforcement authorities immediately. You may also contact AXA Equitable’s Internal Audit Department by calling our fraud hotline (212) 314-6600.

It is possible that the individual or individuals perpetrating the fraud are using additional aliases and directing funds to other banks.  If you have interacted with anyone posing as an employee of AXA Private Equity in a scenario similar to that which is outlined in this alert, you should contact local law enforcement authorities immediately. You may also contact AXA Equitable’s Internal Audit Department by calling our fraud hotline 212-314-6600.

 Should you have any question about the identity of persons purporting to act on behalf of AXA Private Equity, please contact the AXA Private Equity Legal Department at +33 1 44 45 60 77.