I have been phoned today from goodness knows where asking to buy my shares in Total apparel group which I purchased from Equity Release Partners in Zurich and now i am sure the sale was a scam. Now this person has offered me $2.87 per share when on todays market the shares are $0.0003. I bet when I receive the paperwork they are asking for a management fee. Let you know what turns up
Jack o'Clubs
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yeah, this is quite a common scam, usually ask for some money from you up front before they can release the cash to you.
Phil,
TLAG is quite a famous scam, it has been on the go for a while. As you have already realised nobody is going to pay you $2.87 for shares that are worthless. They are trying to extract an advance fee from you and then disappear.
Did you catch the name of the outfit that called you today? By the way you will be receiving plenty more calls about this, having fallen for the original scam they will now try to get more and more money out of you. Every single call you get about these or other shares is a scam.
....... Now this person has offered me $2.87 per share when on todays market the shares are $0.0003...............
You are definitely being ripped off.....they offered me twice that amount !! I'm told this is called the Recovery Room Scam. They look for people who have valueless shares, offer to buy them and then demand an up front fee. Surprise, surprise the sale falls through but the fee doesn't come back.
Curiously they didn't want an up front fee from me and said they'd take their commission from the sale proceeds. Neither did they want my bank details but were happy just to send a bank draft..... V strange, but I dont believe in Santa Claus or fairy godmothers. But I do believe that Scams evolve....... I just haven't worked out how this one works yet (anyone else know?). But no one gives you $2.87 for a one dollar bill.
You are definitely being ripped off.....they offered me twice that amount !! I'm told this is called the Recovery Room Scam. They look for people who have valueless shares, offer to buy them and then demand an up front fee. Surprise, surprise the sale falls through but the fee doesn't come back.
Curiously they didn't want an up front fee from me and said they'd take their commission from the sale proceeds. Neither did they want my bank details but were happy just to send a bank draft..... V strange, but I dont believe in Santa Claus or fairy godmothers. But I do believe that Scams evolve....... I just haven't worked out how this one works yet (anyone else know?). But no one gives you $2.87 for a one dollar bill.
These things are evolving all the time. It may well be that they were going to gain your trust by sending you a small amount but then demand a big advance fee for the remainder. I think they were doing that sort of thing in the wine investment scams.
Needless to say nobody is going to give you any more than Market value for your shares. Anyone that offers to is going to scam you one way or another.
Needless to say nobody is going to give you any more than Market value for your shares. Anyone that offers to is going to scam you one way or another.
see http://www.cityoflondon.gov.uk/CityPolice/Departments/ECD/Fraud/boilerroom.htm. They explain about both Boiler room and Recovery room scams
Not gloating..... I got scammed too ! Perhaps we should have an award for mug of the year. I went down for £1200....any advances?
Not gloating..... I got scammed too ! Perhaps we should have an award for mug of the year. I went down for £1200....any advances?
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You got off very lightly, the average loss is £25,000.
They havnt finished with you yet.
Phil,
Please contact me at [email protected] or 07894253919. I was also approached by an unknown person.
Please contact me at [email protected] or 07894253919. I was also approached by an unknown person.
Ive just spoken to Jobydon. Some guy using the same name from the same company was offering 89 cents per share. I was offered $5+ . Strange?
I mentioned the FSA and the uk Police and curiously Ive never heard from them again.
Scam? Probably, but I dont know how it works because the agreement they sent clearly says that their fee will be taken from the sale proceeds.....ie they dont want any more money up front. Whether that will continue to be the case before the cheque (doesnt) arrive...who can say.
If anyone has an explanation, please post here.
Yes this happened to me also. I posted a reply on fake share certificates but the scam I think is that when I got my certificate and it said restricted shares when I initially bought them. I filled in the paperwork and sent it off, however I was told that they had not been able to make the trade and therefore I needed the restriction lifted which they could supply a company who would do this for 11 cents per share. I tried to phone them back but the number would ring once and then go to busy and having spent the lunch time running around trying to transfer the money I could not get it to them as quickly as they needed it and then something kicked in and I thought I would check it out a bit more. Thank you for your posts. Regards