• Report: #932703

Complaint Review: Gulf Resources Insurance UAE

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  • Submitted: Sun, August 26, 2012
  • Updated: Sun, August 26, 2012

  • Reported By: Duke — Europe Other Netherlands
Gulf Resources Insurance UAE
PO Box 65278 Dubai United Arab Emirates Internet United States of America

Gulf Resources Insurance UAE - Performance Bond scam Dubai, United Arab Emirates, Kuwait Internet

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Email #1:

Greetings,

I found your profile very interesting and I am willing to help you fund your project with a soft loan as I am privately
seeking means of expanding Arab Investment Company internationally.

I would like if my offer is okay by you,please provide me with a comprehensive business plan for my investment team review.

Allah Blessing to you.

Regards,
Raed Bukhamseen
Arab Investment Company
CEO and President
Corporate Management
www.arabinv.com


Note: Arab Investment Company are not involved. They have confirmed this as fraud.

Email #2:

Assalamualaikum.

Thank you for the email and the content is well noted. You will have to discuss all with Dr. Farid Lian

(fhl@arabinvs.com),

Please forward your email and attached document to him for further review and to discuss all in details.

Regards,

Raed Bukhamseen

Note: Email adress used is fraud! Mail goes to a third party.

correct email address is without an "s" = fhl@arabinv.com

Again confirmed by Arab Investment Company.


Email #3:

Salaam,

My team has also gone through it and I wish to inform you that we are  willing to fund the project.

We would fund your project as a debt financing at 4% ROI for a duration of  6-7 years provided that you would have a good security to act as the collateral for the funding.

Once it is accepted by you we would commence funding modalities and  initiate a date for a face to face meeting for closure.

Allah Bless

Email #4:

Thanks for your mail we can do a debt of 5Million to 100Million USD, provided that you are ready to procure a performance bond from a reputable insurer to act as the security for the funding.

Email #5:

In terms of the insurance bond it has to be procured from the United Arab Emirates insurance,you would need to provide the following details below

(1)YOUR COMPANY INCORPORATION CERTIFICATE
(2)YOUR COMPANY TAX CLEARANCE
(3)YOUR COMPANY UTILITY BILL
(4)COPY OF YOUR PASSPORT
(5)YOUR COMPANY SHARE HOLDING LIST

Once this is reviewed the insurance would come back to you and issue you the bond application form , the standard practice is that the insurance application and underwriting fee is at $56,000 and the premium is at 3% so this is the estimated cost of
procuring the insurance bond.

This would be once the review your papers and confirm you eligible.

Email #6

Salaam,

Attached is the bond document fill and revert back to us immediately. They hereby provide the (three page) Performance Bond form to sign,  from the fraudulent Gulf Resources Insurance UAE. You must first send $56.100 as a binding deposit, which you will never see again.

The funds are then to come from the Arab Investment Company, who know nothing of these activities and emails and who state that the email address used is fraudulent.

Email 3 thru 6 are all (alledgedly) from Dr. Farid Lian. When I contacted Dr. Lian at his company (Arab Invesmnet Company) by phone, he confirmed that these were fraudulent emails and that it had nothing to do with his company or himself.

This report was posted on Ripoff Report on 08/26/2012 04:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Gulf-Resources-Insurance-UAE/internet/Gulf-Resources-Insurance-UAE-Performance-Bond-scam-Dubai-United-Arab-Emirates-Kuwait-932703. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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