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Zoey_JD
Zoey_JD, Criminal attorney
Category: Fraud Examiner
Satisfied Customers: 24020
Experience:  Active member of the NYS bar since 1989
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Dear Zoey, I continue to try and fund my project but I seem

Customer Question

Dear Zoey,I continue to try and fund my project but I seem to be once again running into potential fraudsters. What do you think of the one attached. I vetted their letter of intent and now they seem to be wanting a portion of that prepay namely $47,500 USD for due diligence which was previously done by Mr Allen White of Donnar Holdings S.A. (A British Virgin Islands Financial Holding Co. F>E>I>N>#98-1037308).Dear Zoey,I continue to try and fund my project but I seem to be once again running into potential fraudsters. What do you think of the one attached. I vetted their letter of intent and now they seem to be wanting a portion of that prepay namely $47,500 USD for due diligence which was previously done by Mr Allen White of Donnar Holdings S.A. (A British Virgin Islands Financial Holding Co. F>E>I>N>#98-1037308).
Submitted: 6 months ago.
Category: Fraud Examiner
Customer: replied 6 months ago.
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Expert:  Zoey_JD replied 6 months ago.

Hello and thanks for requesting me.

It's one thing to vet a letter of intent, but no matter how legal a letter or a contract looks, the paper is meaningless if the lender is a fraud. You won't be able to find the company to enforce the letter when they run off with your $47,500.

An up-front fee is the #1 sign of a loan scam, and once again you're being taken advantage of. An FEIN is a US number. It is only possible for a foreign company to obtain an FEIN if the owner's principal officer has a US social security number. A foreign company telling you of an FEIN is more than likely a scammer.

There is a Donnar Holdings purporting to be based in Florida, but there is no such company registered under this name licensed to do business in Florida. I do not find Donnar Holdings among the regulated business entities on the British Virgin Island's Financial Services Authority website either. Rather than a FEIN number if they are a BVI company they should have a BVI Certificate number which you could verify here.

The West Indies are notorious for loan scams. You should not pay this money, and your safest bet for finding a legitimate project funder would be to stick to companies in Australia that are listed with ASIC.

Expert:  Zoey_JD replied 6 months ago.

Just checking in to see if you need more help or any clarification of my answer. If so, please reply here on this question thread.