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Zoey, JD
Zoey, JD, Criminal lawyer
Category: Fraud Examiner
Satisfied Customers: 23985
Experience:  Active member of the NYS bar since 1989
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An American company have offered a relatively high price for

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An American company have offered a relatively high price for my BAE Systems plc shares and told I own 7x more than I am aware due some "forward share split" which the board sanctioned, but did not publicise some years back!? Now requiring a 10% "Vendor Performance Bond" from me to ensure inclusion in the 51% required in a hostile takeover bid? Is this a scam, or can it be genuine? Purchaser website looks very convincing.
Submitted: 10 months ago.
Category: Fraud Examiner
Expert:  Zoey, JD replied 10 months ago.
Hello, This is what's known as a boiler room investment fraud. That's when you get unsolicited contact from a so-called foreign investment broker who uses high pressure techniques to lure you into what he assures you will be a lucrative investment deal. Then he will run off with your money leaving you with worthless stock or with nothing at all except a large deficit in your bank account.Here's what you need to know:Any time you get an unsolicited investment opportunity from a so-called foreign broker, it is going to be a fraud. The international investment community is filled with warnings about cold callers like yours. Soliciting abroad is just not what any legitimate financial firm does. It is the #1 sign of an investment fraud. The boiler room scam comes in two versions:In the first version, you are told about a time-sensitive and pressured to make a very quick decision. So you buy shares, wire the firm your money and by the time you realize a year or so later you've been taken advantage of your "firm" has disappeared into thin air and your money along with it.It's the second version for which you've been approached now. Here, a foreign investment company claims to be looking to buy your stock at a tremendous profit. The figures the agent bounces around are impressive and they claim that the offer will quickly disappear. You don't get much time to dwell on this if you want to make this deal which promises to be very lucrative for you. They are hoping you will be so motivated to recoup your previous losses that you will jump at the opportunity, even though it will cost you an up front fee to complete the deal, because they tell you that there is money you must pay out first from your own pocket in order to secure the sale.The fact is that you never have to pay money out of pocket in order to sell your shares. This is a lie that sounds good enough to fool the uninitiated, but it simply isn't true.Pay the "vendor performance bond" and you will lose a great deal of money and get nothing.A financial firm must be registered in its own country with its country's financial regulatory authority and authorized by your own country's financial regulatory authority to trade in the UK. If it can't produce those credentials, it is operating outside of the law and you are setting yourself up for a fraud by dealing with them. Additionally you lose the protection of your own law enforcement authorities and consumer and financial protection agencies. A US financial firm must be registered with the US Securites and Exchange commission. If it is not, that tells the entire story, no matter how good its website looks or how convincing the documents are that you've received or the sales patter of their so-called agents. Your Financial Conduct Authority warns about cold callers here. I'm sure this is a scam already because it conforms to the pattern, but if you need additional verification, please give me the name of the so-called American company and its website, and I can give you further reassurance that you should walk away from this fraud, report it to your FCA to warn other potential investors and to the FBI at their Internet Crime Complaint Center at IC3.gov.
Customer: replied 10 months ago.
Purchaser's Agent making the offer is: Gruber & Taylor Co, Columbia Tower,***** 34th Floor, Seattle, Washington,###-##-#### *****: 1(###) ###-####/ Fax: 1(###) ###-#### *****: www.gruberandtaylorco.com.
Expert:  Zoey, JD replied 10 months ago.
Thank you. FINRA, the Financial Industry Regulatory Authority, keeps the data base of regulated financial firms for the Security and Exchange Commission. The data base is online and searchable, and as you can see for yourself, to no great surprise, they have no record of any firm called Gruber & Taylor Co. That is actually all you really need to know. But I can tell you more. The Washington SEcretary of State's register which keeps the business and tax filings for Washington State businesses the way that Companies House keeps UK company records, has no such business as Gruber and Taylor registered with them. A Washington corporation would be required to list with them for tax purposes. The office location is virtual rather than actual. This company is not authorized by your Financial Conduct Authority either. The WHOIS information for the website www.gruberandtaylorco.com shows that the domain name was only registered on October 9, 2015 and it will expire in 8 more months. That's a bad sign. The company is using a private proxy service to hide its actual identity and location. Walk away from them. If you signed anything, don't worry about it, since they are not real and no contract you signed with them is binding. If you gave them any significant information about yourself such as bank account or credit information, take precautions against identity theft.
Customer: replied 10 months ago.
Thank you for a comprehensive answer. It smelt to good to be true and I am grateful for your confirmation and sources you checked. I will report to the FCA and FBI as suggested. Regards. Kash
Expert:  Zoey, JD replied 10 months ago.
You're very welcome. Happy to have helped. Please take the time to rate my service before leaving the site so that I can get credit for my work.
Zoey, JD, Criminal lawyer
Category: Fraud Examiner
Satisfied Customers: 23985
Experience: Active member of the NYS bar since 1989
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