Scammer Information Details of Scam Report
The Scammer found my company's profile on www.gust.com and engaged me as an interested investor.
Positioned himself as a wealthy Saudi banker who wants to make investments in technology. Due to the social and political climate in the middle east, he wants to keep the business transaction very discrete. The exchange eventually worked to a stage where his agent, Mr. Sleiman Jihad; email@example.com, sent me a term sheet for their investment. As part of the transaction, I would need to secure a Saudi Arabian certificate of incopreration and operational license. Mr Sleiman Jihad would set this up and manage the transfer of funds from Suadi Arabia to my account. For his services, Mr Sleiman Jihad would require a $20K consulting fee to be paid within 24 hours after my bank receives the transfer.
The following is the original email
Peace be unto you Jim (last name),
With reference to your funding request through Gust network.
I am interested in investing the required amount of my investment funds in (company name))project. Kindly get back to me(firstname.lastname@example.org) with more details so that we can move forward in getting you funded.
After some email exchanges, I received the following terms & proceduere sheet:
TERMS AND PROCEDURE:
THIS PROPOSED BUSINESS DEAL SHALL BE FOUND ON JOINT VENTURE PARTNERSHIP INVESTMENT AS DESCRIBED BELOW:
The proposed project will be finance by Dr. Abdula-Aziz Saleh as a private silent partner on a 40/60 profit sharing basis; whereby 40% of the annual net profit after tax will be to Dr. Abdula-Aziz Saleh for the contract duration and by the end of the contract duration, the investment capital would be converted to equity shares in the company.
Note that you are to provide the day to day management of the business solely while Dr. Abdula-Aziz Saleh shall rely on your experience in this business and managerial competency without any intrusion.
REQUIREMENT: MIDDLE EAST BUSINESS INCORPORATION CERTIFICATE:
You are required to provide a certificate of company incorporate in the Middle East or if your company is not yet registered in the Middle East, you would be required to register your company in the Middle East as required by government preferably in U.A.E.
You are aware of the constraint in movement of fund from the Arab- world because of the ongoing war on terrorism, sponsorship of terrorism and money laundry steer by United State and Britain for this reason, they is solemn restriction on direct foreign investment but, preferences are been given to foreign companies with local business entities in the Middle East as it would facilitate the government to have a background information of the principal parties involved in the business, especially in the U.A.E.
This will enable you to secure a certificate of incorporation and an operational license which we shall use to open a corporate account that we can use to transfer the investment fund to your designated account to avoid hindrance that may arise from the government monetary agency. You stand to benefit immensely in future business deal with other companies in the Arab-World because, United Arab Emirates is unique in its international business operation and it flexibility with other companies in Middle East.
2. My Professional (Consultant) fee of US$20,000.00 would be paid by you within 24hrs after your bank confirmed the investment fund in your designated account in your country.
3. A working agreement that will bind this transaction would be prepare for your review and revise to ensure that you are satisfy with the terms before we could proceed with the requirement.
Once you are able to provide us with certificate of company incorporation in the Middle East; the partnership agreement would be sign by both parties after that we shall conduct our due diligent, if the result is affirmative, the investment fund would be wire to your designated account before a familiarization meeting would be arranged.
a. The meeting would be arrange at your location after you have acknowledge the investment fund in your account to facilitate my client or his representative take a look at the project site and facilities.
As soon as I receive your consent to the outline procedure and terms for the funding, I will inform our consultant to prepare the contract working agreement that will bind this transaction for your review.
finance 966-5916143 national account agent transaction project foreign representative service partnership partner 40% business transfer sent paid fund bank bank share your bank reference investment email@example.com firstname.lastname@example.org client will exchange (last name) (company name)) (email@example.com) (consultant) mr. sleiman jihad; mr sleiman jihad