New Online Investment Scam Mimics Regulatory Agencies   - 6,498 Views, 54 Comments

54 Comments »

1. These share scams are getting even more sophisticated. I was contacted by a group from America wanting to buy some shares that it said I owned. I was offered them in a scam some years back but didn’t fall for it. I said I didn’t own any but they said they had me as a registered shareholder but would check. 24 hours later they phoned back and said I was definitely the registered shareholder of 12,000 shares in a company called Glogal Foods, and they wanted to buy the shares for a client and were offering $7.25 each. They said there had been some “wash trading” in the shares and it looked as though they had created an account for me in order to manipulate the share market. However, the shares were legally mine and they would like to buy them. There was slight problem in that there was a restriction on the shares and they would need to lift the restriction and verify the ownership and there would be a charge of $1.25 per share for doing that, but being a foreign investor it would be refundable (if you believe that you would believe anything!!)
   So they just wanted $15,000 from me to be put into a escrow account for security! They emailed me a stack of documents from their company “Transatlantic Group Mergers and Acquisitions” supposedly in Chicago.
   A quick check revealed the address they were using was the Unilever building in N. Michigan Ave. A check with the US Securities and Exchange Commission showed there was no such company registered in Chicage. The details were passed to the Fraud Investigation Unit but they think the whole operation is computer based from outside the USA. I reported the matter to the UK Police Fraud Investigation Unit and have been stalling the fraudsters for several weeks now to give time for them to be traced.
   The latest thing is that they phoned again and said that I could verify my shareholding and prove everything was above board by contacting the International Shareholders Regulatory Bureau in Houston, Texas and they gave me the number +1 713 589 7265 to call to check.
   A quick check on the ISRB turned up newspaper articles concerning a fraud of shares in the Beijing Development Corporation in which a buyback of $7.25 was offered and could be verified using this bogus bureau. As the telephone calls have no lag on them I believe they originate either from the UK or Europe and not the US as they try to make out. The matter has been reported to the UK Fraud Investigation Unit as well. Let us hope that these crooks are caught as they have taken a lot of money from other people and there is even a rumour that it is going into funding terrorism.

   Comment by Jim — 2/21/2007 @ 3:26 am

2. I got a call today (5th March) from A “Roger Moon” who also referred me to this fake “regulatory body” - Obviously not been traced yet?

   Comment by John — 3/5/2007 @ 6:49 am

3. The website does exist but hosted by a “cheap” domain name company. It needs removing from the web!

   Comment by John — 3/5/2007 @ 6:51 am

4. I’ve been also contacted (03/05/2007)by “Transatlantic Group Mergers and Acquisitionsâ€?, Mr Christopher Haywood, http://www.tgmergers.com/. We ha ve been negotiating for a few days. I was requested to pay USD 5500 to uplift the funds (FRFGOF)that I seems to ow since 4 years ago. They also came with the story of the “International Shareholders Regulatory Board” witch I swallowed and even called to that nummer to check. To make it more real they tell you that you have a security code that you have to use to get any information. It is clear that they identify this way the different victims and when we call they exactly know whom is the “bird”. They tell you that they are a government department. It is done in a very professional manner. congratulations!!! I was prepared to pay USD 2500 to see if it was not a scam. Then, I saw your comments and sent today (03/13/2007) an e-mail back with copy of what is said on the site. Since then they stopped calling me or sending messages. Many thanks for the advise.

   Comment by Jose G. — 3/13/2007 @ 9:08 am

5. I too was approached by an acquisition company ith regard to shares in Beijing Development Corp.
   same old ploy offer over the top
   then they expect you toput $1. 03 per share to release reg. S 144 they must think all Brits are as thick as they are, I am determined
   to trace them to see whether they can run faster than a bullet!

   Comment by Peter Unborn. — 4/18/2007 @ 10:36 am

6. Has anybody who has Beijing development shares been contacted by Unified clearinghouse services. saying we have 72 hours to get rid of our shares or we loose them as a company is taking control of BDC?

   Comment by jeff — 5/17/2007 @ 6:58 am

7. anyone who owns Beijing development shares been contacted by Olsen Aquisitions offering 12.50 a share - any cooments???????

   Comment by jeff — 10/8/2007 @ 7:21 am

8. i’ve just received a phone call from a Tony Francis from Olsen Acquisitions telling me that i have 15000 shares in Global Foods Inc…which is absolute nonsens..they want to give me $12 per share etc..the fact that i don’t own these shares doesn’t seem to matter to them (I have BDC & Sino Real Property shares)..they still faxed me the Exhibit A: US Equities Purchase Agreement which states that i need to pay $7500 to get the restrictions lifted, but i was assured i’ll get it refunded when the transaction is done. he also made it clear that their company can’t lift the restrictions but that only an appointed transfer agent can do it..fact is the transfer agents that was used by BDC are on the ‘Cold calling’ list of the International Registry Commission’s website. I wish these scammers get the biggest pain in their backsides that they won’t be able to walk any more…

   Comment by Leana — 10/24/2007 @ 6:18 am

9. I was contacted by Daniel Merchant from Olsen, then spent half hour on phone with a guy from international shareholder comission…too good to be true

   Comment by steve haywood — 10/25/2007 @ 12:19 pm

10. I foolishly bought shares in safeguard technologies 4 years ago.I received my certificates,but dont seem to be able to contact the company.Last week I got a phone call from WALDON MCLEAN ASSOCIATES ofering to buy my shares at 5 dollars each.They say they are performing a hostile takeover of the company and gave me a number for the Stock Validation Bureau in the US.I rang them and thay confirmed i have shares in safeguard and the only company contracted to buy these shares is Waldon Mcclean.They also noted that there will be a share verification premium payable of 4000,which must be lodged in a USbank into an escrow account in my name.This is fully refundable.This i am told is law in the US.I would really appreciate any feedback.Thank You

    Comment by tony fahy — 11/7/2007 @ 2:52 am

11. I was also contacted by Waldon McLean about a month ago, telling me the same story as the rest. The caller said he was based in Tokyo (British Accent) and even ended up sending me the address of the building he was allegedly working from. I am familiar with Tokyo and easily tried to verify his story. The said building housed the Jamaican Embassy whom I phoned and they informed me that the caller was not based in that building. The next call I got from Waldon McLean, I quized them as to who else was based in the same building. They could not answer correctly so I told him I thought it was a scam and I had no intention ‘doing business’ with them. No contact since. Be very careful especially when someone is asking you for money. I am in Australia and there is no way you have to pay money to verify share ownership here.

    Comment by Scott Nicholson — 11/16/2007 @ 5:41 am

12. I have been called today by Tony Francis saying I own shares in Mobil Oil Stream Incorporated, as same spiel as above. I also was approached by a share company by phone a year ago but felt it was all too dodgy. Mr Francis purports to be located in Salt Lake City, but sounds more like a timeshare scam salesman to me, which I why I googled the name of his company and found this site. I will be interested to speak to him when he calls back tomorrow (telephone number came up as international withheld)

    Comment by L Murray — 11/27/2007 @ 9:22 am

13. Has any one been contacted by a company from the USA asking to buy shares for Beijing Development Corporation and telling you that you need to file a B8 ben tax form and its going to cost $4,000 to do this to release your shares, and if you pay them they can get it filed quicker?

    Comment by Maggie Poynter — 12/18/2007 @ 5:26 am

14. Hi Has any one been contacted by a company asking to buy shares for Beijing Development Corporation and telling you that you need to file a B8 ben tax form and its going to cost $4,000 to do this to release your shares

    Comment by Maggie Poynter — 12/18/2007 @ 5:27 am

15. Has any one heard of: Securities Accreditation Bureau, Scottsdale, Arizona. Maybe another “International Shareholders Regulatory Bureau in Houston” scam for share verification for a fee!

    Comment by Graham Bryant — 1/17/2008 @ 7:49 am

16. i have invested with a site called usacashinvestment.com from dec and this was a 5 days investment and i have not heard anything from them all now and that was from dec4th they accept payments through kasheeq.com which i have also made numerous complaints to informing them that they are doing business with a company that is scammimg people but they still continue

    Comment by Tina — 1/20/2008 @ 1:39 pm

17. Securities Accreditation Bureau, Scottsdale, Arizona Have also had contact from them with regard to Mobile Stream Oil Inc and Nanoforce. They want money for warrants etc would love to exchange information

    Comment by Sally Goodall — 1/28/2008 @ 5:43 am

18. I foolisly invested in Accupoll whose shares are now worthless and have been contacted by a woman suposedly from Belgium who can get 75% of my money back if I invest in “Plaxbox Music solutions” has anyone else come accross this?

    Comment by Gareth Wilson — 1/28/2008 @ 7:51 am

19. Securities Accreditation Bureau. Sally SAB say they are part of the Home Security Dept but I cannot find them except on the SAB website. They want cash up front to verify my shares before a sale! Then say if I default by not paying the shares will have no value. Beware! I think i have been scammed

    Comment by Graham Bryant — 1/28/2008 @ 11:02 am

20. Securities Accreditation Bureau. Graham….We too have been scammed they are asking for money for warrants in Mobile Stream. Beware Crawford Clarke they had cash up front for exchange then put us in contact with SAB. Same scenario as you no money for warrants… shares have no value and will taken then 12 to 18 months to refund monies already sent

    Comment by Sally Goodall — 1/29/2008 @ 1:04 am

21. Has anyone been approached by a company in Arizona to sell shares in Global Resources Corporation (Mobile Stream)?

    Comment by John Henderson — 1/29/2008 @ 3:14 am

22. Mobile Stream .. we were approached by that company too. They were offering shares in Global Resources in return for Mobile Stream shares. I am in UK is anyone else from here affected by all of this?

    Comment by Sally Goodall — 1/29/2008 @ 9:39 am

23. SAB — Sally I am in UK and just had a call from SAB re default notice. Claimed the courts require 12-18 months to refund monies in case of default. I ask for the statute or court ref? They quoted the Patriot Act of 2002! Now researching but anyone know if SAB real? Sally can we ask ISPPP? Do they help?

    Comment by Graham Bryant — 2/4/2008 @ 10:28 am

24. SAB - Sally I have sent info on SAB and linked this page to the SEC asking if it is a SCAM. They will know!I hope!

    Comment by Graham Bryant — 2/4/2008 @ 11:12 am

25. Graham Re SAB have sent all details to our FSA they told us it is a scam and highly unlikely we get our money back.SAB Mobile Stream etc all un-registered companies (with FSA )They are investigating so will let you know.

    Comment by Sally Goodall — 2/7/2008 @ 5:59 am

26. SAB Graham is there any way we could get in touch via phone etc?

    Comment by Sally Goodall — 2/7/2008 @ 6:30 am

27. i have been involved with the Securities Accreditation Bureau http://www.sabureau.us for over a year now and am VERY HAPPY to say that after all of the heartache and nightmare filled nights i followed everything they told me about dealing with and using major american banks that they oversee i have finally received my money and now i am waiting 90 days for my refund.

    Comment by peter bennet — 2/20/2008 @ 12:44 pm

28. i have a very good securities lawyer friend in the U.S. and he advised me that the FSA and the SEC only oversee brokers and brokerage firms and they do not regulate mergers and acquisitions like the Securities Accreditation Bureau does. he also explained to me that the SEC and the FSA are 2 of the biggest waste of goverment funds that r out there. he says everyone in the brokerage bussiness are fully aware of their incompetence. so believe me i know how u feel . thnk god i had this type of information about the SEC and FSA because someone who knows nothing about shares or the market like myself would thnink that they would know . BUT THEY DONT

    Comment by peter bennet — 2/20/2008 @ 12:56 pm

29. SAB - Sally like to chat about this and talk to Peter Bennet. Strange he is the first person with positive feed back on SAB! Can we post tele nos or email addresses on this site?

    Comment by Graham Bryant — 2/25/2008 @ 2:00 am

30. I have tried on several occasions to ring securities accreditation bureau but i can never get through. What telephone number have people used?

    Comment by Nick — 5/8/2008 @ 1:38 pm

31. Has anybody heard from an Anthont Ross from IRFCI. He has been in contact with me for over a year and a half but it has just gone quiet regarding beijing development.

    Comment by Nick — 5/8/2008 @ 1:40 pm

32. Yes I have had many calls from Anthony Ross and Peter
    Oxley from the so called IRFCI. When they face the music I will be there to tap them on the shoulder and some.

    Comment by Michael — 7/7/2009 @ 12:31 am

33. Has anyone knowledge of a Company based in Prague called Philip Equity Management. They are trying to buy AccessPoint shares from me on behalf of a Japanese Company. The guy’s name is Oscar Ayres and he wants up front money for Equity Transfer Charge. He’s given me the name of an International Exchange Regulatory Agency based in Tokyo. I’m extremely suspicious and would like to nail him.

    Comment by Bob Harris — 8/13/2009 @ 9:14 am

34. i have been also contacted by Oscar Ayers looking to but shares from me in Inegen technologies at 2.50 when they are only worth 5cents. he also asks that I pay an equity transfer charge which would be refunded when the deal is done. this must be a scam but he is very convincing and gives all the guarantees that i asked for

    Comment by malcolm smith — 8/14/2009 @ 4:06 am

35. Yes. A company based in Prague called Philip Equity Management (PEM) is trying to buy my ATI Petroleum shares on behalf of a Japanese company. The name of the man who phoned and emailed me was Donald Elliott. He also claimed my holding was 10 times larger than it actually was. A phone number supposedly belonging to the International Exchange Regulatory Agency, based in Japan “confirmed” this inflated figure. PEM wanted me to pay an “Equity Transfer Charge” of $10,000 which was supposedly going to be refunded at a later date.

    Comment by John Smith — 8/14/2009 @ 7:27 am

36. Thank you guys, don’t touch him with a bargepole. I have spoken to the UK Financial Srevices Authority and I am now convinced that this guy is a financial parasite. I am in the process of filling in a complaint to the FSA and to the City of London fraud squad (Operation Archway). Thank you again for your comfirmation.
    Bob Harris

    Comment by Bob Harris — 8/14/2009 @ 1:20 pm

37. Hello, i’ve been contacted by Philip Equity Management as well. Ross Cataneo is his name and he even send me a copy of his passport! He tells he wants to buy shares of Advanced Medical Institute in behalf of a japanese company. He also gave me a number of the International Exchange Regulatory Compny and i’ve spoken there to Marc Foster. They send me a kind of share certificate showing i would have 20.000 shares and i only bought 4.000 some years ago. Shares value is something around nothing and they offer 5,75€. I also have to pay a Equity Transfer Charge (7,200 USD) in order to be able to sell the shares. This all seems very strange. Is there anybody having paid and received the promised money allready?
    Dany Schneider

    Comment by Schneider Dany — 8/19/2009 @ 4:29 am

38. We have been contacted several time by Philip Equity Management wishing to buy shares we hold in General Components Inc for a Japanese company. Again we have been asked for money $6500 to clear US government regulations. So far both Donald Elliott and Ross Cattaneo have made contact over the past month. They are now will to offer names of satisfied customers who have already received payment and refund! Has anyone ever received a refund or payment.

    Comment by Jim — 8/24/2009 @ 8:51 am

39. i have also been contacted by Philip Equity management with regards to shares in Laser lock technologies again asking for money to de regulate the shares for a fee of $7500 for shares that are worthless, again he referred me to the International exchange regulatory agency, its a very good scam and the money is tempting but the old adage applies if is sounds to good to be true it is.

    Comment by phil — 8/25/2009 @ 2:37 pm

40. I am shocked at the unbelievable levels of stupidity. The reason criminals keep doing this is because it works. “I invested in a 5 day investment through kasheeq.com?” How dim can you be? You don’t deserve to get your money back. Eventually people will figure this out, but it will take many years of idiots telling their friends how they got burned before it finally sinks in.

    Comment by Charles — 8/26/2009 @ 11:04 am

41. dont get sucked in by philip equity management they tried with me bad mistake , i will now post on twitter for everyone to see please talk to me through twitter parrotfish 986

    Comment by byron pagin — 8/26/2009 @ 10:53 pm

42. If any scamsters contact you looking to buy your worthless shares for a small fortune just ask them to guarantee there are no further charges to pay.This will scare them as its the basis of the scam and secondly and more importantly never send a dime by wire transfer to anyone you don’t know.Its amazing how anyone can fall victim to this.

    Comment by billyboy — 9/16/2009 @ 8:32 am

43. has anyone heard of penn capital management trying to buy shares

    Comment by johnnyr — 9/21/2009 @ 11:39 pm

44. has anyone heard of davis hunt? they say they are a transfer agent in singapore they want to but my shares?

    c .elkins

    Comment by celkins — 9/23/2009 @ 7:54 am

45. this is there web site http://tinyurl.com/y9s8ho9

    im sure i smell a rat??? anybody?

    Comment by c.elkins — 9/23/2009 @ 11:29 pm

46. Davis Hunt are registered on a blacklist of coldcallers. They are not lisenced to trade and just interested in a fake “refundable” de-ristriction fee…

    Comment by DonQuichot — 9/29/2009 @ 2:54 pm

47. I’ve just been contacted by phone & fax, by a Mr Michael Woo of Capitol Acquisitions Management Inc saying that they have a client interested in buying my shares in Beijing Development Corp, and offering $27.75/share. This amounts to a tidy few grand, which is interesting of course, but they then ask you proof of your shares with a copy of your certificate, payment of original deal confirmation, agreement between you & the original investment Co. proof of ID and a valid form W-88EN. I told them straight in a reply fax, I was not interested in any deal other than through a 3rd party, but I certainly wouldn’t give them that amount of information since they would obviously be able to negotiate something tricky, stating that they were me

    Comment by P Skeet — 10/15/2009 @ 2:14 am

48. Philip Equity have just defrauded my father of his life savings! These individuals are scum. He is 84 years old and words cannot express how we all feel,watch your backs guys.

    Comment by susan simon — 11/3/2009 @ 3:46 am

49. Dear Susan Simon #48 my Mother has suffered the same as your Father and was the same age when this happened.At least your Father has the support of his family because I’m sure these SCUM don’t, as they would not have the honest character to tell their families how they made their money all the best with your Dad.
    Regards Michael. Australia

    Comment by Michael — 11/3/2009 @ 11:42 pm

50. Michael, thank you and I am so sorry about your mother. I will follow up all I can to bring some kind of justice. Meanwhile these scum will be driving around in their flash cars without a care in the world.

    Comment by Susan — 11/5/2009 @ 1:04 am

51. Just got a call from a company called Hasen Accounting Group wanting to buy some worthless shares we still own. The letter is signed M. Menzies. The email address appears in Daily Domains.org and cost only $25 for the 1st year. Anyone heard of them before?

    Comment by Jim — 11/12/2009 @ 8:22 am

52. My last comment should have read Hansen Accounting Group

    Comment by Jim — 11/12/2009 @ 11:43 am

53. I just received a call followed by an email from Hansen Accounting Group too (didn’t find any mention with a Google research). They offer to exchange dead Wealthcraft shares for blue chips. I must admit that they are very talented, the lady on the phone remained always very calm and very polite, sounding very professional. Unfortunately to good to be true, again.

    Comment by De Boe — 11/17/2009 @ 12:08 pm

54. There are a couple of organisations clammering to purchase shares in City Networks Inc. One of them being “Penn Capital Management Ltd” in Osaka, Japan (No connection with Penn Capital Management Inc in the USA)and regulated by “The Financial Trading Commission” based in Tokyo. The Japan Embassy confirm that these are not genuine organisations.
    The other offer is from “Hansen Accounting Group LLC” in New York. Upon typing their web address, the name has been purchased from GoDaddy and is parked - No site has been created !!!

    Comment by Jon — 11/20/2009 @ 2:10 am

RSS feed for comments on this post.

Leave a comment

Warning! All comments which contain URLs and are clearly just spam to generate a link back to the URL will be deleted on sight. Don't bother wasting your time!

If you are going to include a URL in your comment,
please keep it under 25 characters in length,
or use TinyURL to shorten it before including it in your comment.

Line and paragraph breaks are automatic, your email address is never displayed.
HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>