If you have paid money to anyone for a service like this, and are still waiting for the desired result, call me in complete confidence. I can usually help if you move quickly enough.
Bank instrument scams are usually offered to any of the following
- Those looking for large project financing for which they can not qualify
- Those in control where large sums of cash are held on deposit (e.g: escrow companies, corporate treasurers, etc)
- Those who think they may have influence on those who control where large sums are held on deposit, or;
- Those who hold themselves out to be any kind of financial broker
- Legitimate investors seeking high returns
Bank instrument leasing scams come in a variety of looks, shapes, sizes and descriptions. The verbiage used to hook the mark into the scam can vary as well. Typical examples include:
- HYIP or High Yield Investment Programs
- HYTP or High Yield Trading Programs
- Platform trading programs
- MTN or Medium Term Note trading programs
- Bank instrument trading programs
- Credit enhancement programs
- Sinking fund programs
These programs represent the most sophisticated misdirection techniques I have ever seen, as well as what I suspect are the most successful in history. Virtually all of them involve duping the mark, and often the brokers too, into believing that a balance showing on a statement is something more than what it is. Various real bank instruments are used for this con. Some of these instruments are:
- SWIFT MT799
- SWIFT MT760
- Letter of Credit or LC
- Standby Letter of Credit
- Medium Term Banknote
- Bank Instrument
By some estimates, this scam has existed for 30 years. I first saw it 15 years ago, and have been approached with more of them every year since. By now it has developed its own vernacular. Some of the terms used by the practitioners of these scams are:
- "Top 25 bank"
- "Trader"
- "Platform Trader"
- "High Yield Investment Program"
- "Show Money"
The specifics of each of the scams included in this breed is a thick book I've yet to write. Let's hope it becomes history before I ever have the chance. I will summarize for your here.
If you have paid any funds whatsoever toward the objective of leasing a bank instrument, you won't see it again. If you see anything, it is the proceeds of others who bought into the same scam, and a perpetrator paying you to keep you quiet while he does it again.
It's a scam.
Don't be embarrassed. Some very sophisticated people have done the same.
If there is any potential of getting your funds back, I can help. Move quickly!
I offer no legal advice and charge no fee. Nothing herein shall be considered an offer of any legal service whatsoever.
Posts
So you are saying this is a scam even if you have reicievied a email from the bank official how is funding these swift 799 and 760s.
ReplyDeleteYes. And by the way, a Swift MT799 doesn't fund anything.
ReplyDeletebut the 760 does right cause I have both. From a bank that I have looked up that is holding 25 billion in cash
ReplyDeleteMechanically, it can act as a guarantee - but not for you. Think of it as an insurance claim with a thousand escape clauses.
ReplyDeleteThere will be a default in the terms, and it will be uncollectible. It will have been your fault, and there will be nothing you can do about it.
But they say the money is 100 percent refundable if the transaction does not fund and the firm Iam using is very good with a ton of referals and past deals of clients.
ReplyDeleteAsk yourself these questions (you don't have to answer them here, of course):
ReplyDelete1. Did you pay anything to anyone, including any kind of leasing fee for a bank instrument?
2. Has the process taken longer than you originally thought?
3. With the interest they claim, they could easily replace the deposited funds usually within a few months. So why would they not just give you back your funds instead of paying you interest?
Ill call you in the AM.
ReplyDeleteBasically,a leased instrument is to secure loans from banks when the companies are having cash flow problems.Some banks knew about these types of operation and would only loan to credit worthy customers.I've been using lease LCs for more many years now when I've encountered cash flow difficulties so NOT all lease instruments are scams.It depends on how you utilize them.
ReplyDeleteThere is nothing wrong with leasing an LC or other bank instrument. But the use you've identified is not a legitimate one.
ReplyDeleteQuestion: How could a leased asset possibly improve your ability to borrow?
Answer: You don't disclose the net present liability of the lease itself (the fact that you do not actually own the asset), thereby artificially inflating your net worth. If you have an accountant to back up your claim, you might even get audited financial statements to completely trick those bankers who perhaps aren't the brightest bulb in the chandelier.
That's likely to be classified as bank fraud.
Ok so I think I have another example. I was approached to make an investment so that a charity could obtain a forgivable loan. To receive the forgivable loan the charity had to be credit worthy, so they needed a credit sponsor to get a Standby Letter of credit. The letter of credit had up front fees and the charity needed money to prepay for the SBLC. The investment would be returned within 45 days once the SBLC was issued and the first draw of the forgivable construction loan paid banking fees.
ReplyDeleteDoes this sound familiar to you?
Clearly Jonathon you have no idea.
ReplyDeleteThe fact that you are propigating half truths clearly indicates to me you have no merchant banking background nor have you been educated in the correct way to lease a bank instrument. I doubt you have even worked for a "top 25 bank" in even a menial capacity.
For your information nearly all of the top banks lease bank instruments to qualified customers. I would be more than happy to furnish you with a list from which you will see each an every instrument is assigned an ISIN number which fully documents and identifies the instrument and its value.
Some examples are listed below:
Issuer/Currency/Face Amount
/Rate/Maturity/Type/ISIN #
UBS AG USD 74,158,000
6.40% 31.08.12 MTN XS0229236418
CITIGROUP FUNDING USD 40,000,000
11.50% 20.08.12 MTN XS0314534610
BARCLAYS BANK PLC USD 35,076,000
10.00% 03.08.12 MTN XS0226653839
These instruments are fully verifiable through the internal processes of any top bank. Make no mistake, they exist and are real.
To put my comments into perspective, do you think that for one minute, some of the world's top banks would be involved in such scams.
I understand that there are scammers out there, however, to tarnish everyone with the same brush is unacceptable.
Thank you Mr. "Anonymous" for your comment.
ReplyDeleteOf course bank instruments are real. You can even lease them. You just can't trade leased bank instruments in your magical programs for rediculous returns.
I would love it if you proved me wrong. But you won't. You'll say that nobody who makes such money is willing to tell anyone, or that they are sworn to secrecy by your top 25 banks, etc. etc.
You use the oldest ploy in the book - naming household name banks to prop up your legitimacy. They don't like that. Neither do the feds who regulate them:
http://www.sec.gov/divisions/enforce/primebank/howtheywork.shtml
In reality, the ponzi schemes and ponzi scheme derivatives created with this sexy verbiage are the only way anyone makes money - except for, indirectly, your banks (for which you seem to hold some sort of idolic reverence) which get to hold on to more money than they would if less people believed "the money is on the way" from trading these otherwise yawn-provoking instruments.
Thank you also for the classless personal attack. And your name is...?
They ask me to make a blocked deposit in their favor 14% agaist a 10 year loan of US$ 200 million they said they will advance me within 40 days after which the blocked deposit will be free for them when the loan is concurrently made readily available for me.
ReplyDeleteshall I go agead with the deal documentation?