(AP) — Nebraska regulators are warning consumers to avoid an online escrow company that isn’t licensed to handle money transfers.
The Nebraska Department of Banking and Finance said Monday it ordered Lincoln Closing and Escrow Services to stop acting as a money transmitter.
Regulators also say the online company improperly claims it is based in downtown Lincoln. No such company is based at the address Lincoln Closing lists on its website.
Company officials weren’t immediately available Monday to comment.
Regulators say they learned about Lincoln Closing after a consumer complained that the escrow company insisted the consumer wire money to a Mexican bank account to pay taxes before selling two timeshares.
Regulators say consumers should avoid doing business online with financial companies they don’t know.