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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3695
Experience:  Solicitors 2 years plus PQE
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I have a written offer from China Merchant Securities of 10-12

Resolved Question:

I have a written offer from China Merchant Securities of 10-12 Alle Street London E1 8DE to purchase land on behalf of a China International Capital Corp £39,222.
A 10% Surety Bond is required before payment is released.
is this a scam?
Submitted: 3 years ago.
Category: Law
Expert:  Jo C. replied 3 years ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
I presume this company is based in China?
Customer: replied 3 years ago.

China Merchant Securities Ltd is registered in England & Wales(###) ###-####/p>

Expert:  Jo C. replied 3 years ago.
Are they the sellers though? You refered to a different company above?
Customer: replied 3 years ago.

I am the seller.

China Merchant Securities (CMS) are brokers(?) for CICC

Expert:  Jo C. replied 3 years ago.
Thanks.
This is an issue of duplicate contracts then which is probably not my area.
I will opt out for others.
Expert:  Alex J. replied 3 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** my colleague has asked me to assist you with this.
Was this offer unsolicited?
Where have they asked the bond to be paid?
Kind regards
AJ
Customer: replied 3 years ago.

The offer was unsolicited

The bond was paid to Prospect Encore Limited at Hang Seng Bank Limited, 83 Des Voeux Road, Central Hong Kong

Beneficiary address: Office 4210. Office Tower, Convention Plaza,***** Wan Chai, Hong Kong

My contacts at CMS London are;

***** ***** - advisor

James Mills - Finance Director

Expert:  Alex J. replied 3 years ago.
Hi,
Thank you.
The FCA have said their is a "clone risk" of CMS -http://www.fca.org.uk/news/warnings/china-merchant-securities-limited-clone
The fact that this offer was unsolicited and is asking you to pay a deposit (when you are the seller), is highly suspect.
Unless the bond is held by your solicitor or a reputable firm of solicitors in England then I would not even consider taking this further. Also I would speak to FCA and ask them whether this is the "cloned firm"?
I look forward to hearing from you.
Kind regards
AJ
Alex J., Solicitor
Category: Law
Satisfied Customers: 3695
Experience: Solicitors 2 years plus PQE
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