Newbie - Help!!

Has anyone had dealings with Bayer Investments, in Luxembourg? They were due to sell my shares but it seems they have gone bust.
I have been recommended David Irvine at Harvey and Baxter to sell them, but they are wanting a large amount of investment up front to open an account with them.
The shares include the following:
Santeon Corporation
Bio Source Solutions Inc.
Evolution Global Capital Partners

If someone wants a large lump sum up front...BEWARE....most reputable firms will let you open an account with a small amount.

I couldn't find Evo global listed but on yahoo Santeon last traded on 3rd Jan,

Is Bayer a boiler shop?

Bayer - Santeon - Evolution and Biosource

Thanks for your input.

Looking through other posts, it seems that Bayer may have been Boiler Room. I hope that Harvey and Baxter are not, as a last resort!!

I am seeking independant Financial Advise through Unbiased.co.uk, to see if I can sell the shares in UK.

If Santeon last traded in January is that a good sign that the stocks are genuine. I searched google and it came up with a price of $2.80.

Bio came up at $0.75 and Evolution at $2.85.

I've heard of Bayer and they are indeed a boiler room.

DO NOT send your money to Harvey and Baxter - they are most likely run by the same people that set up Bayer. They have your name and are now trying to get you to part with even more money...

Also - just because the quote is £2.80 - that doesn't mean anyone will pay that for them. Chances are you've been sold Regulation S shares that can't be sold for 2 years - and will be virtually worthless when you do go to sell them.

If any company asks you for a large up front payment before selling your shares then BEWARE. They are almost certainly setting you up for another scam. Any reputable company will take any commission from the proceeds.

Thanks Hoggums

Not what I wanted to hear. I will take advise as to what to do next, without parting with any more money. - I hope !!

Wish I had seen this forum earlier. Other investors beware !!!!

My Dad bought £20k of shares from Bayer, and believed they are now worth $200k. Baxter and Harvey are now asking for £20k to redeem the shares.

Someone mentioned on a forum that you may be able to get someone to de-restrict the shares, which may enable at least some of the money to be recovered? Is there a legitimate firm who may be able to help with this?

Thanks in advance.

Spatulala said:

My Dad bought £20k of shares from Bayer, and believed they are now worth $200k. Baxter and Harvey are now asking for £20k to redeem the shares.

Someone mentioned on a forum that you may be able to get someone to de-restrict the shares, which may enable at least some of the money to be recovered? Is there a legitimate firm who may be able to help with this?

Thanks in advance.

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I suspect your dad's shares are worthless. Who will buy them? Don't give any one money to redeem them as that money will be gone as well.

I think this is a hard lesson. Don't buy shares from these companies selling a dream and playing on the investors greed. If things sound too good to be true, they are! You will lose I'm afraid.

Thanks Tenapenny, I guessed as much, it's a real blow for him and a high price to pay. The supposed buyer is an American company called ‘Interstock Transfer Inc’. I'm guessing these guys don't exist?

de-restricting OTC shares

Spatulala said:

My Dad bought £20k of shares from Bayer, and believed they are now worth $200k. Baxter and Harvey are now asking for £20k to redeem the shares.

Someone mentioned on a forum that you may be able to get someone to de-restrict the shares, which may enable at least some of the money to be recovered? Is there a legitimate firm who may be able to help with this?

Thanks in advance.

Click to expand...

We have been struggling to de-restrict our shares. Some have a time limit on them which apparently the American Government has now relaxed to 6 months - so if your shares are more than six months old you should be able to have the restriction lifted - If you can contact the particular Companies. Some of the OTC shares are listed on 'Pink Sheets' (which may give a slight indication of their worth) but that doesn't really mean anything as they need to be put onto the OTC electronic system for them to be sold. If you can overcome those two hurdles then there are plenty of people who can sell them for you, including some of the larger Banks. Unfortunately they are unable to help with the hard work you now need to do in contacting these companies and getting new certificates issued. Please let me know if you have any success, and I will let you know if we do.

drummerboy24 said:

We have been struggling to de-restrict our shares. Some have a time limit on them which apparently the American Government has now relaxed to 6 months - so if your shares are more than six months old you should be able to have the restriction lifted - If you can contact the particular Companies. Some of the OTC shares are listed on 'Pink Sheets' (which may give a slight indication of their worth) but that doesn't really mean anything as they need to be put onto the OTC electronic system for them to be sold. If you can overcome those two hurdles then there are plenty of people who can sell them for you, including some of the larger Banks. Unfortunately they are unable to help with the hard work you now need to do in contacting these companies and getting new certificates issued. Please let me know if you have any success, and I will let you know if we do.

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He bought the shares over 2 years ago (which probably increases the chances of them being worthless?) Guess I need to get a list of the stocks he bought, in which case how do I understand if they have any value? Appreciate I'm probably chasing a no-hoper, but I've got to see if there's anything that can be done to mitigate the damage caused. Thanks for all your help.

Try looking up 'Pink Sheets' in a Google search. Input the names of your shares and it may come up with some details. Then you need to do more searching to find the contacts, addresses etc. even phone numbers. Some of ours indicated less than a cent!. but others had some value at the time. If yours do show some value at all, it may be worth the effort in having them de-restricted, but it is a long and very frustrating road. We are still on the trail of some of them!!

Harvey and Baxter

I have a client, a vulnerable retired lady, who was cold called by Harvey and Baxter offering her shares in Symmetry technology. They persuaded her to do so even though she clearly didn't know what she was doing. I'm now having to try to unravel the 'deal' they placed on her behalf. Make your own mind up about whether you would want to deal with them.

Harvey and Baxter

lavadome101 said:

I have a client, a vulnerable retired lady, who was cold called by Harvey and Baxter offering her shares in Symmetry technology. They persuaded her to do so even though she clearly didn't know what she was doing. I'm now having to try to unravel the 'deal' they placed on her behalf. Make your own mind up about whether you would want to deal with them.

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I haven't dealt with Harvey and Baxter - they wanted 6 percent of the value of my shares to open an account in order to deal with me. We are busy trying to deal with the shares ourselves. It seams we have to get them onto the electronic transfer system - Any Ideas?