Foreign Investment Scam: How It Works
If you own a network business linking clients to each other for a commission, you might receive an e-mail from a potential investor in a diffrerent country, mostly from Africa (most likely Nigeria, South Africa, Ivory Coast, or Ghana) or Eastern Europe.
Very official, they inform you that they are willing to invest millions of dollars in your country, but need a list with potential businesses. The most common cases are when they claim to start building an orphanage in your state. However, the business could be in a ny niche, so beware. Let's say you are convinced and give it a thought.
You collect some company names and send them to the client. They choose one and then ask you to start the paperwork.
All this will happen in a very business-looking way (phone calls, webcasts, etc) – so everything will look realistic to you, especially their website.
The African client says their corporation is ready to wire the $12M, but they will need your country fellow client to pay $1 per $1,000, to release the funds.
Since this method is unheard of and you might be skeptical, they blame corruption in the African continent – they have been burnt before and now take precautionary measures. This is a huge scam that hits young businesses especially, thinking they found a gold mine.
The scammers just use the name of a real company in Africa, which – indeed – has a website that you can check.
Foreign Investment Scam: How To Avoid
Never trust African business proposals like this. Real deals happen in the same room, with everybody present. If they really want to invest 12M, they should have money for plane tickets – and even then it is not a guarantee.
Foreign Investment Scam: How To Report
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
Report Scammers To The Federal Trade Commission Here
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12 thoughts on “Foreign Investment”
George Oliver is back again! Here’s the scam:
"Business Development Management,
First and foremost, let me use this opportunity and introduce our management for your mutual understanding. We help and manage Funds for worthy individuals, politicians and businessmen all around the globe,we also offer Loans to companies and private entrepreneurs.
However, we currently have some investors that want to invest their capital with you after the pandemic (COVID 19) if you are interested our Representative in the United Arab Emirates, will call you and meet you in person to discuss further details before we proceed.Be advice to reply with any investment ideas you have which can be successfully managed by you on behalf of our investor.
Please if you are interested drop your contact details mobile number for easy communications.
Finally may we know your origins.
Do have a nice day.
Mr. George Oliver
Olive Consulting Ltd
Here is another scammer George Oliver, sending unsolicited emails:
We are investment brokers, we write to inform you that we have investors who want to invest in a massive project, and or into any profitable business with high returns, do you have a project that required funding please do not hesitate to contact us so that we can arrange with our investor and enter into Contract with you.
You are free to make available to me your direct phone and or your mobile number so that we can talk one-on-one.
Be advice to reply with any investment ideas you have which can be successfully managed by you on behalf of the investor.(firstname.lastname@example.org)
Waiting to hear from you soonest.
Mr. George Oliver
Olive Consulting Ltd
Along the same lines beware of this email below – SCAM!
We have decided to donate the sum of 2M USD to you ,for charity work I am looking for a reputable and reliable person whom i can entrust to help me to establish a charity/orphanage home in your country,So if you are willing and capable to partner with me you can let me know immediately.
fill this information below thanks
you need to fill all this information so my bank will contact you
1. NAMES IN FULL:……………
4. Your Email:…………….
for more details reply to: email@example.com
Do Charity work
Here is a similar scam email that it just received:
I am Mr.Steve Liang Ming, A Chinese, I have a Mutual business proposal I’m proposing to you.that I would want you to handle from your country, I will like to seek your consent first.
This project involves a huge specific amount which I can’t mention here for security reasons. It involve a transaction from my bank in Hong Kong, Am a Chinese man and we are bound by laws here and this transaction requires a foreigner.
If you feel you can have this handled, please let me know, so that I send you an attached comprehensive details of this transaction.
Mr. Steve Liang Ming
Here is what I got. They say they are from Syria, but the email address shows a domain name from Russia. here it is:
Nice to meet you,
My name is Zainab Abudul, I am contacting you from Syria Republic concerning an investment I want to establish in your country due to the war that is currently befalling my country Syria.
I need you to assist me on this investment, I want to establish in your country, and I will give you more details on how you will help me to make this investment a success, contact me on this email address at ( firstname.lastname@example.org )
I am waiting for your urgent response.
message sent from Republic of Syria
Be aware of this email below, coming from someone who calls himself Tall Captain LOL. The email address used is email@example.com. Here it is:
I need an Investment Manager who can handle Investment for me in your country or any other country of your choice ? The fund is 100% Legal.
If yes contact me for more details.
Captain Tall Elmansour.
I have a Nigerian guy with the name claimed as Francis Cohen, Funny. He answered a craigslist ad to me looking for work. He claimed he would pay me $500 a week for me disbursing funds to investors,of his fund in forex fund. Also to receive funds into my bank account. He is now asking for my bank information. He had me fill out a contract, but of course i gave him all false information. Can you help me. I want to catch him in the act. i have been to Nigeria and other African countries and i know his accent is of that origin.
Navigating on the web i have find 3 websites that most likely are scams:
All have private whois records, no https, no real address!
All need private documents and financial documents, and they are not licensed in any case!
Yup, just got this email today. Beware!
My Name is Mr Maurice hails from ivory coast . I am here with my cash for investment purposes .I wish to invest in construction, hardware and other related industries that I may be asked to invest into in as much as the industry is lucrative.
I also has an eye into fast -food franchising where there is an opportunity ,If there is any other areas which you have interest for us to go into the industry as partners feel free to contact me for a discussion.
Presently I reside in Durban Kwa zulu Natal and am EverReady to go any other province that I may be called upon to form a business partnership.forward me your direct mobile number for more discussion
Have you ever heard of this type of scam coming from Suadi Arabia? I’m experiencing a situation that sounds very much like the one you describe from Africa. How or what can I do to screen this from a real potential?
had this one,guy called kemal Mohmoh and Mark Williams from Port Harcourt Nigeria, email firstname.lastname@example.org.
this guy did the clasic 419 scam, we paid 300usd for a fake NFIU letter then asked for 2500usd for a legal fee.
this guy needs a bullet in the head
Here is the scam email I just got today:
"From: Mr. wallace Jones
Nigeria National Petroleum Corporation, (NNPC)
49 Road Close A House 14,
Dolphin Estate, Ikoyi,
I am sorry for contacting you through this medium without any previous
notice. I am a senior staff with Nigeria National Petroleum
Corporation, (NNPC). My colleagues and I intentionally over-invoiced
a contract award to the tune of USD15m. The principal contractor has
been fully paid remaining the over-invoiced sum. By virtue of our
civil service code of conduct, serving officers are not allowed to
operate foreign bank accounts. This is the more reasons why this
contact is made to you so that you will be fronted as a subcontractor
to the principal contractor whose contract fund still floats unpaid.
All internal arrangements have been beefed to transfer the fund into
the foreign account which you will supply to me for our mutual
benefits. Please indicate your interest via fax or email hence other
modalities will be discussed. There is no risk involved since the
process of transfer of the fund will observe legal documentation.
Most importantly please treat with utmost confidentiality.