Fake share certificates?

googleman

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I foolishly got involved with TLAG 18 months ago.....yeah yeah Ive read all the threads.... just 18 months too late. Ive now been approached to sell them. ie stage 2: the Recovery Room scam. Of course I know there's no angel thats going to buy $1 bills at $10 each but Im fascinated to see how this scam works (but Im not intending to part with a penny more whatever happens). Ive read elsewhere that they will ask me to send money before they can release the cheque. But this one is different..... first they dont need my bank details and are happy to send a bank draft to any secure address. Second their 1% fee is to be taken from the proceeds of the sale ie they dont want me to send ANY money (yet!). But there are 2 docs to sign....an agreement and a non disclosure agreement.I think Ive got it sussed....and its clever (devious). But perhaps you guys/gals can add something
When I was first approached it was by phone from a blocked number.....due to line quality I assume it was an internet phone line so virtually untraceable. The guy made his offer and said he'd send docs by email and recited my E address.Nothing arrived. Next day he called again saying Dammit, theres no point in me sending again and it getting lost in cyberspace again..... please send me a test email so I can reply.
Now the FSA tells me that its against UK law to cold call anyone with financial offers. But by blocking the phone num and not sending an email until I had apparently first contacted them, they can say it was me that made the initial approach.
However I emailed from a bogus email a/c and they emailed back to my real address ie the one that was supposedly losing their papers out into cyberspace.
Ive read a lot about Recovery Room scams now and I learned that although the TLAG company really does exist, its quite likely the bits of paper I received were totally bogus certificates. I dont know how to check this.?
So I read their agreement again and what it says (among many things) is:

a) The Seller hereby confirms that it is the rightful and true owner of the securities and/or funds described in Schedule A and as such has the right to dispose of said securities or funds.

b) The Seller hereby confirms that the securities and/or funds are fully paid, unencumbered and have no restrictions or lien attached to them.

f) In the event that part or all of the securities and/or funds described in Schedule A. are not yet in the Seller’s possession, the Seller acknowledges by their signature on this document their assent for the Buyer to obtain said securities on their behalf.


Now Im guessing that they will, at some point, say these certificates are bogus so to complete the deal we had to purchase the shares (as it appears to demand in the agreement). You now owe us £n. So cough up £n before we can send your dosh.
Exactly what they would do if I didnt send the dosh is unknown given that they are operating illegally in UK if not FSA regulated.(and they are not) so would leave themselves open to prosecution if they tried to take it to court.
The real question now is how can I check to see if my certs are kosher or fake.?
Your thoughts please
 
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You need to contact the share registrar, finding who it is could be a nightmare, but you are the googleman so I expect you'll succeed. The problem is that the shares may well be held in a nominee account meaning they don't have your name on a shareholder list. If that's the case you'll be no further on.

To be honest it's better to forget about this, you are not going to benefit no matter how things work out. There was a guy on another thread that thought he do some sort of baiting, in the end they threatened to take him to court and he didn't have the wit to tell them where to go.
 
Just to be clear a bunch of criminals in a boiler room in Thailand are not, under any circumstances, going to take you to court, for anything. If you are scared of fake legal threats don't have any more dealings with them.
 
Best to just let it go. They are pros at this game. I agree with pboyles, you really have nothing to gain. Highlighting the scam here will benefit others, though, so you can take some solace from that.

Peter
 
I have very carefully not identified them, so have libelled no one, so cannot be sued by anyone. PBoyles, thanks for the pointer to the share registrar. I get the general sentiment, but unless someone does the research they will always be the experts and we the victims. Its only by exposing the trick that we will all be able to spot the fakirs slight of hand.
 
You need to contact the share registrar, finding who it is could be a nightmare,

Im feeling v pleased with myself as I found the registrar at midnight and awoke to his reply email offering to examine a scan of the certs.

Will let you know.
 
I foolishly got involved with TLAG 18 months ago.....yeah yeah Ive read all the threads.... just 18 months too late. Ive now been approached to sell them. ie stage 2: the Recovery Room scam. Of course I know there's no angel thats going to buy $1 bills at $10 each but Im fascinated to see how this scam works (but Im not intending to part with a penny more whatever happens). Ive read elsewhere that they will ask me to send money before they can release the cheque. But this one is different..... first they dont need my bank details and are happy to send a bank draft to any secure address. Second their 1% fee is to be taken from the proceeds of the sale ie they dont want me to send ANY money (yet!). But there are 2 docs to sign....an agreement and a non disclosure agreement.I think Ive got it sussed....and its clever (devious). But perhaps you guys/gals can add something
When I was first approached it was by phone from a blocked number.....due to line quality I assume it was an internet phone line so virtually untraceable. The guy made his offer and said he'd send docs by email and recited my E address.Nothing arrived. Next day he called again saying Dammit, theres no point in me sending again and it getting lost in cyberspace again..... please send me a test email so I can reply.
Now the FSA tells me that its against UK law to cold call anyone with financial offers. But by blocking the phone num and not sending an email until I had apparently first contacted them, they can say it was me that made the initial approach.
However I emailed from a bogus email a/c and they emailed back to my real address ie the one that was supposedly losing their papers out into cyberspace.
Ive read a lot about Recovery Room scams now and I learned that although the TLAG company really does exist, its quite likely the bits of paper I received were totally bogus certificates. I dont know how to check this.?
So I read their agreement again and what it says (among many things) is:

a) The Seller hereby confirms that it is the rightful and true owner of the securities and/or funds described in Schedule A and as such has the right to dispose of said securities or funds.

b) The Seller hereby confirms that the securities and/or funds are fully paid, unencumbered and have no restrictions or lien attached to them.

f) In the event that part or all of the securities and/or funds described in Schedule A. are not yet in the Seller’s possession, the Seller acknowledges by their signature on this document their assent for the Buyer to obtain said securities on their behalf.


Now Im guessing that they will, at some point, say these certificates are bogus so to complete the deal we had to purchase the shares (as it appears to demand in the agreement). You now owe us £n. So cough up £n before we can send your dosh.
Exactly what they would do if I didnt send the dosh is unknown given that they are operating illegally in UK if not FSA regulated.(and they are not) so would leave themselves open to prosecution if they tried to take it to court.
The real question now is how can I check to see if my certs are kosher or fake.?
Your thoughts please

hello
I think you have described what has happened to me pretty well. I signed the paperwork etc and then chased as had not heard. They said they had tried to sell the shares but these were restricted which means they cannot be traded unless I have the restriction lifted which I would need to get done this week (and here is the rub) they provided a company who would do this for 11 cents per share! I spent my lunch hour running round seeing who could do the quickest bank transfer to Hong Kong - I live in Jersey channel Islands, Uk, but thankfully no joy to get this done as quickly as they demanded. You see I had got carried away and in my head and had bought my mum a little car, paid for a hol for my sisters 50 birthday and her son, got an electronic garage door for my dad as he cannot manage the one he has and cleared some debts. What a fool, I nearly handed over another £2000 pounds. You would think I would have learned the first time.
Regards
 
Im so glad if I have helped. I can easily understand.....You wanted to look good with your family but risked looking an even greater fool. I got a similar reply on the Buy my shares in TLAG blog. I headed her off too.....I almost feel like my money/experience was well spent...I lost just 2k. Lucky me !

Its called the Recovery Room Scam. They know you feel a fool for ever buying in (like me) and appear to offer an escape route for an extra £n,000. But Its a cul-de-sac. They are adding insult to injury. They are worse than the original scammers. Find some way to give them the run around (it'll get them sacked for wasting the companys time)

BUT DON'T PART WITH ANOTHER PENNY.
Googleman
 
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By the way, what was the company name who would supposedly lift the restriction? It all helps others not to fall into the same trap
googleman
 
Sorry to hear that you've been scammed by this company. You could contact the registrar, but most likely you would just have to take in this lesson by the school of hard knocks.
 
Hi guys,,,,Good post........ I get the general sentiment, but unless someone does the research they will always be the experts and we the victims. Its only by exposing the trick that we will all be able to spot the fakirs slight of hand..

keep it up....

kumkum:clap::clap:
 
hello
I think you have described what has happened to me pretty well. I signed the paperwork etc and then chased as had not heard. They said they had tried to sell the shares but these were restricted which means they cannot be traded unless I have the restriction lifted which I would need to get done this week (and here is the rub) they provided a company who would do this for 11 cents per share! I spent my lunch hour running round seeing who could do the quickest bank transfer to Hong Kong - I live in Jersey channel Islands, Uk, but thankfully no joy to get this done as quickly as they demanded. You see I had got carried away and in my head and had bought my mum a little car, paid for a hol for my sisters 50 birthday and her son, got an electronic garage door for my dad as he cannot manage the one he has and cleared some debts. What a fool, I nearly handed over another £2000 pounds. You would think I would have learned the first time.
Regards

Well, you know what they say about people who live in Jersey?
 
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