Kiwis' Stories...

Message from Kaen on 14 May 2007:

A person identifying himself as Richard [---] from Radius Resources contacted my husband in April this year advising that he would like buy shares of Orbit E -Commerce that we held for his client at $18.25 per share.

Richard told us that our shares were restricted and cannot be sold. In order to take the restriction off so that they could be sold we needed to forward $2,220.00 USD to a bank in Latvia.

Richard [---] later informed us that there were warrants attached to our shares that enabled us to purchase 2 shares for every 1 that we owned so now we could purchase another 6000 shares at .85c US per share. Only then his client would buy the shares at $18.25 each. Hence, we must send him $5,100.00USD in order for him to execute the warrants to sell the shares. We were asked to sign a 'confidentiality document'.

The documents that he sent did not look quite right. I became suspicious that this was a scam. I found that Radius Resources is not in New York. It is neither registered with the Share Transfer Company nor anywhere else. I have reason to believe that both Consolidated Transfer Inc and Radius Resources in fact do not exist.

The telephone numbers on their websites are transfer sites only and calls are transferred to somewhere in Latvia according to U S Authorities.

I doubt that Richard [---] is his real name; he also uses Thomas [---] as the contact at Consolidated Transfer Inc this contact is via email only.

I have contacted Orbit E Commerce and they have passed this information over to their lawyers who in turn have alerted the authorities in USA. I have furnished them with the above banking details. I have also alerted the Bank in Latvia.

Message from Roger on 28 November 2005:

I have had umpteen calls from a company called Atlantis offering to redeem worthless shares I bought about 3 years ago. The story this time is that the shares have to be registered on a US exchange as they were done on a W46 or something scheme. Within 2 days of getting their fax "offer" I had another crowd on the phone. This new lot had the same basic story but did not request money in the first instance and instead of faxing sent an e-mail.

Message from Chris on 23 November 2005:

I have had a phone call from Hong Kong - Pinnacle Global Corporation - wanting to sell shares. I'm fully aware of these scams and do not propose dealing with them. However, I do not see them listed on your website and I wondered if they needed checking?

Pinnacle Global Corporation now appears on the Securities Commission's warning list of firms which call New Zealanders but do not comply with New Zealand law.

Message from Jean on 1 August 2005

Hi,

I have been confused as to why a ‘scam’ call has been coming in to me from John of Glendale Settlement over the past three or four weeks – supposedly a company in Washington DC. He keeps saying another company wants to buy my shares and I am listed on the share register in a company called RNHDA. He says I have 400 shares which have gone through a 5 for 1 stock split (now 2,000 shares) I supposedly own and his buyers lawyers want to buy the shares and put money in my bank account.

I searched for the name Glendale Settlement and got to your page where it is mentioned in context with Mendes Prior. That name rings a bell as they were trying to get us to buy shares well over a year ago and we were fortunate enough to be very wary by the nature of their insistence. I later was contacted by a group that unfortunately was unlucky enough to have bought some of these bogus shares. I can only assume that these people have got my name and number from the Mendes Prior database and are trying to scam me again. I certainly don’t own these shares – so can I assume that this is another big scam.

Message from Neil on 29 July 2005

I have recently received an unsolicited call from "Johannson Linqvist Associates" who offered to purchase some shares I bought during the dot com era.

These shares have subsequently lost all value, yet "Johannson Linqvist Associates" have offered to buy them from me at 12 Euro each (a considerable premium).

They forwarded me a contract and have given all the usual answers to appear legal (i.e. professional website etc.).

My suspicions were raised when I was expected to pay 9,500 Euro to release these "Restricted" shares as part of the sale process.

I was thankful to check your site and see "Johannson Linqvist Associates" listed as an unlicenced broker who may be involved in scams.

I have subsequently let "Johannson Linqvist Associates" know that I will not be undertaking any business with them now or in the future.

Message from Ivan on 15 June 2005

I put money into US shares in May 2000 through a brokerage called Benson Dupont. When some guy called me out of the blue, I was very guarded but he was actually related to someone I knew very well here in NZ. I let my guard down. I sent US2283 for 3000 shares in [ --- ]. I never got the share certificates but followed the share price on a financial news service from time to time. I remember it was only around 7.5 cents US, compared with the 75c per share that I paid. In July 2004, I had a call from Anova Equity Corporation, in East Shanghai, who said they had a record of my shareholding in [ --- ]. They offered to exchange this for new shares in something called Soccer Direct Europe, if I would top up the investment with another US$1750. I did and got share certificates back in the mail. Then they started hounding me to exchange these for a new company called Asia Sports Media. I refused to send the extra money they wanted and their calls continued till recently. On paper it all looked wonderful but I’d had enough. They were very persistent, calling three times a week some weeks.

Message from Walter on 14 July 2005

Yes, I too have been approached. A Jeffrey [ --- ] from First Colonial Management and a Fiona [ --- ] from First Colonial Management wanted to purchase shares, then they want some payment to Youngson International Holdings in Hong Kong.

I see that First Colonial Management and Youngson International Holdings are on your list. I have listened to them only.

Message from Anthony on 14 July

My client Alec [ --- ] brought shares in Krypton through Mendez Prior in 1997. He has just called me and advised that he has received a call from James [ --- ] of Glendale Settlement Incorporated in Washington DC offering to purchase the shares for $us95,550 less brokerage of $us2866.50. The call was followed up by a fax which has requested a bank account number so the proceeds can be deposited. There are only 2 days to make a decision to accept, which ends today. After the Mendez Prior debacle I don't think this is genuine.

Message from Marie and Jack in Australia on 13 July 2005

Thank you for putting Overseas Management Group on your list of fraudsters. Our story started some years ago with frequent calls from the Kensington Group, badgering my husband, over and over again until he felt that it must be a good idea to take on shares in Interglobal Waste Management which would double, treble or quadruple in value as soon as they were listed. So we moved money to Kensington Group. For a while we received emails telling about progress of the "new" technology in waste management being well received and being installed in a couple of places.

Then in came a phone call saying "They've been dishonest, send fees, and we'll get it all back for you." That is when we took our "Share Certificate" to a local broker (This took courage because we thought we would look like fools - and we did) who essentially said, "You have been had." "Do not, under any circumstances send any more money."

We had our latest call this morning. Syd Davis said he could give us replacement shares because the Kensington Group has been sued successfully and that they bought Intel shares and that we could have some of those. I guess we'll get the phone call later asking for further "fees".

And so, we are now quite resigned to having wasted about $A10,000. Thanks again from this guilable pair who did buy shares from an overseas "broker" to our own detriment.

Message from Ranjit on 8 July

I got a call from one Harrington Management out of Korea. Sold me 3000 shares of MultiCorp. I did not read this website before and couldn't slam the phone down on them, but when they followed up, that is what I did. Guy was named Andrew [ --- ] and the legal representative was Phil [ --- ]. Guys with Scottish accents! Put them on the scam list!

Good day, my name is Keith and I run a business in Auckland. I recently invested 70,000 dollars in a boiler room futures and options scam, they told me the price of oil was going through the roof and persuaded me to invest this money as they said the price of oil now 60 dollars a barrel was going to reach 100 dollars soon.

I very foolishly invested the money, then they asked me to double my initial investment as I invested when it was 50 dollars a barrel so I already made a huge profit. I asked my accountant to check things out this is what he found out they are a boiler room calling kiwis, they claim to be calling from the UK but this is a virtual office they are not registered with the FSA in the UK and they are actually calling from Thailand. Their website was made in April this year.

Now they are not answering my calls

Hi there

I have had these calls. Latest is a company called [ --- ] Ltd, by a Mr [ --- ] from New York. I have not parted with any money this time. Once bitten twice shy

It's the 5th company since 2000 that has tried to fleece me since worthless shares purchased in 1999-2000.

A company called Morgan Price from Australia sold me shares in USA company called [ --- ], then without authority bought shares in another company. I never got title to shares and as I didn't pay for second unauthorised purchase it seems that all cash paid was lost in interest. These companies were listed. Morgan Price then went bankrupt. This was early 2003. Surprise - they made an approach again in 2005, but didn't reply to my response when I pointed out I was still waiting for share certs and an explanation of how $5000 US had managed to disapear in such a short time.

Message from Andy on 16 June 2005

This bogus company started calling out of the blue in August 2004. They were very persuasive and qualified me as a potential investor very early asking details about my ability to invest and promoting the opportunity to invest in currency options. The initial call involved a lot of pressure to get started relating to supposed currency market conditions and I would lose a good market timing opportunity etc. The caller asked me to verify their documentation via their website.

While I always knew it was a scam I was absolutely amazed at the plausibility of the caller. In April this year I received more calls from the same bogus firm. On 14 June 2005 I have received another call from this same bogus broker. I note interestingly that they are using the same landline telephone number, the same website with unchanged office and telephone contact details. The website contains many spelling and grammatical errors that is indicative of these scam operations.

My concern is for the New Zealanders who become the victims of these fraudsters. Often embarrassed and ashamed of losing their savings and investments this way they suffer in silence.

Message from Ian on 16 June 2005

Yesterday, I received an unsolicited voice message from a Mike [ --- ] to telephone him. No reason for the request was given. This morning, I telephoned him and received what may be an opening to a scam of the type you warn of. Mr [ --- ] said he was from the 4th largest investment banking house in the US. He recommended that I use him to invest in stock in a US company involved in the homeland security sector whose stock price he considers "will go double digit" from its current value in the next year. Mr [ --- ] said that he contacted me because he targets lawyers.