- Report: #1163226
Report - Rebuttal - Arbitrate
Complaint Review: Phoenix Investment Group/Stadholland/Opec AG
Phoenix Investment Group/Stadholland/Opec AGNationwide USA
Phoenix Investment Group/Stadholland/Opec AG- Paul Wolf -Allen s**+-Ben Bale-Arjen Van Dun-Theo Montis-James Ault INSURANCE LOAN SCAM FOR FUNDING London England, Jung-gu,Seoul 100-161,Korea, Texas Nationwide
*Author of original report: Paul Wolf and James Ault
*Author of original report: Continued contact
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IF YOU HAVE BEEN CONTACTED BY A PAUL WOLF, or JAMES AULT, RUN.
They purport to be from Phoenix Investment Group (PGI Group Invest) in Seoul, South Korea (PGI-KR), Stadholland Insurance out of the Netherlands, Worldview Financial from London, England and Opec AG Insurance out of Texas, doing most business via Skype. Phone calls received by both were actually from London, England, Chicago area and Texas.
Mr. Wolf insists his company had the financial backing to offer a loan. In several conversations, Mr. Wolf had me call Wells Fargo Bank’s 24-hour customer service number, 1-800-869-3557. On the automated system, Mr. Wolf instructed me to input an account number which was read over the phone, as well as a Federal Employer Identification Number (FEIN). The account balance was in excess of $41 million. Unfortunately, I did not have time to document the account number or FEIN.
Mr. Wolf informed me that a loan in the amount of $20 million was approved to fund our new product. He stated the loan would be processed by his “Fund Manager” in London:
Wealth Management & Fiduciary Financial Control Unit.
World View Financial Group.
Financial Clearing House.
London, United Kingdom.
A requirement of the $20 million loan we requested was to purchase a Capital Investment Guarantee Policy (CIGP), which typically amounts to 2-5% of the loan amount. Mr. Wolf stated he had a “contact” at London-Re, which upon contact they fell apart because London RE found out about the scam, so Mr. Wolf stated he had a real good relationship with StadHolland Insurance a company for which PGI-KR has done business. The contact first was:
2nd Floor, Newby House,
309 Chase Road,
Company Reg. Number: 07171***
Phone: +44 20-3318-1874 Ext. 104
Fax: +44 20-3611-1110
Website: www.London-Re.org (also go to London-re.comfor scam info)
Shortly after the London Re caught Scam, Mr. Bale disappeared and enters Mr. Van Dun, so it became! It is our opinion that Mr. Van Dun is also Mr. Bale. They are one in the same.
Arjen van Dun.
StadHolland Insurance AG
Business Telephone:+31 10 808 0005.
Once Mr. van Dun got into the deal he claimed we needed to pay $200,000 for the policy. Mr. Van Dun gave wire instructions to wire $200,000 to us via Wolf:
cc: Mr. P. Wolf.
As requested the below wire details are our External Receiving Agent's Accounts nominated for receiving premium payments, Endeavor to provide transmission receipt as proof of payments:
i)CHINA MERCHANTS BANK.BANK ADD: HEAD OFFICE, 19/F CHINA MERCHANTS BANK TOWER,NO.7088 SHENNAN BOULEVARED,SHENZHEN, P.R. OF CHINA.SWIFT : CMBCCNBSACCOUNT NO: OSA755919385932401ACCOUNT NAME: FAMOUS UNION LIMITED.BENEFICIARY ADDRESS: SHENZHEN, P.R. OF CHINA.ii)
BARCLAYS BANK.BANK ADDRESS: 83 ARGYL STREET,GLASGOW, G28BJ,UNITED KINGDOMACCOUNT NO: 70610615SORT CODE: 203370SWIFT :BARCGB22IBAN: GB17BARC20337070610615ACCOUNT NAME: BPCES.BENEFICIARY ADDRESS: LONDON,UNITED KINGDOM.
On confirmation of payment we shall issue the Client Certificate in favour of FIIC INC. We require your postal address to enable us mail the Certificate to you. Thank you for your Patronage
Arjen van Dun.
Telephone:+31 10 808 0005.
While I was not comfortable wiring funds to an “unknown” Beneficiary, after checking out StadHolland and the Wells bank account we moved forward after receiving a copy of the Bond issued by “Goldman Sachs” through Opec AG and Phoenix, to back the insurance policy. All looked good but later the documents would not stand up as originals. I was expecting invoices for all costs and from Stadholland Insurance Agency, with a policy identification number in addition to wiring instructions to an insurance agency. However, they kept coming up with excuses on the paperwork. (“We had the Bond and Policy they stated’) We were told the policy being off shore the payment would have to go to an agent at either the UK office or China office.
After acquiring the policy, the issuing entity will be able to provide proof of the Bond security on the Bloomberg system. Opec AG claimed to handle it. But all that this was another scam for more money. They would not disclosed the actual costs to get the listing, so more money was requested. They provided us with a “screenshot security verification”. The information contained on Bloomberg would be our justification and identify just about everything we would need for verification, as such:
a. Issuer Information;
b. Security Information to include the issue price and maturity date;
c. Identifiers, which includes the International Securities Identification Number (ISIN), 9-digit CUSIP, etc.
The above information is NOT confidential information—it is basic information that a company should be willing to share. International laws that govern the securities industry derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. This provides a common pool of knowledge for all investors to use to judge for themselves whether to buy, sell, or hold a particular security. Only through the steady flow of timely, comprehensive, and accurate information can people make sound investment decisions.
When I visited the website, www.London-Re.com, a notice appeared which states in bold red lettering:
“It has come to our notice that a scam website under the url www.london-re.org has been using our good name and business model to attract clients. If you have used this url to attain or have been issued a policy or been contacted by Peter Wolf, James Ault, or Benjamin Bale, please report it to local police service. Our own clients are unaffected; however, due to the nature and severity of the scam, we have taken down our website until further notice.”
After explaining to Mr. Wolf we did not have that kind of funds. He suggested one of his associates would provide a bridge loan to cover the cost of the policy. A few days later, I received a phone call from , Canada. The gentleman stated “that he was calling on behalf Mr. Wolf to obtain our US mailing address so a check may be mailed on behalf of PGI. An envelope was received in the mail, postmarked from “canadapost.ca ”, but the return address on the envelope was an Ohio Company Godfrey &Wing. Inside the envelope, was a check in the amount of $235,050.75. I contacted them to find out they knew nothing of this check and it was a fraudulent copy.
I was advised by Mr. Wolf to deposit the check immediately. A day later, Mr. Wolf informed me via e-mail that in order to procure the CIGP at the discounted rate, I had to wire $100,000 by close of business the following day. Mr. Wolf provided the following wiring instructions:
BANK: PING AN BANK CO. LIMITED. OFFSHORE DEPT.
BANK ADDRESS: NO.5047 ROAD,SHENNAN DONG,SHENZHEN,CHINA.
ACCOUNT NUMBER: OSA11014490414401
BENEFICIARY: CHU WU IMPORT & EXPORT CO. LTD.
BENEFICIARY ADDRESS: SHENZHEN,CHINA.
I also called Godfrey & Wing, apparently where the check came from. I spoke to the CFO . No one knew a “Steven Ivena”, they immediately took action with their bank in hopes of stopping any other attempts. A copy of the check was sent to them, and it was verified as a fraudulent check.
I believe Mr. Wolf was hoping that I would deposit the check and that our bank would release $100,000 immediately and that amount would be wired to the beneficiaries noted above. Then when the check doesn’t clear, we would be stuck with a $100,000 deficit in our account. After 6 months and lots of documents and bank accounts and empty promises all we have to show is what is listed above.
Warning: Please be careful of these scam artists.
This report was posted on Ripoff Report on 07/18/2014 03:30 PM and is a permanent record located here: http://www.ripoffreport.com/r/Phoenix-Investment-GroupStadhollandOpec-AG/nationwide/Phoenix-Investment-GroupStadhollandOpec-AG-Paul-Wolf-Allen-Shi-Ben-Bale-Arjen-Van-Dun-1163226. 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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