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Tax-Scholar
Tax-Scholar, CPA
Category: Finance
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Experience:  Helping customers comply with and plan for income taxes
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A company called Al Owais Investment Group out of Dubai will

Customer Question

A company called Al Owais Investment Group out of Dubai will loan our OTC mining company USD 7.5M for approved program subject to us posting a surety bond. fees of $36K need to be paid up front to Suni Karim, Emirates Trust International Insurance. www.emiratestrustinsuranceuae.com. Web-site for Al Owais look good - the insurance company not so much, they don't seem to be doing a proper dd on us and we can find no real information on them. Are these reputable firms?
Contact information for the group out of Dubai, Dr Abdul-Hamid Hassan, Al Owais, www.alowaisggroup.com
Insurance- Suni Karim, Emirates Trust International Insurance. www.emiratestrustinsuranceuae.com.
Whois on both web sites tie back to server located in Scottsdale, AZ.
Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend,Hello and welcome. Thank you for providing an opportunity to assist you.Let me have a straight advice for you. STAY AWAY FROM THIS.I am very much familier with similar companies and I have seen a lot of them operating in a very similar and strikingly same fashion. They are into sole business of collecting Upfront fees that gullible clients pay.They take the money, and never disburse any kind of loan.Such companies are nothing but plain fraud.I would have a very clear opinion on this. STAY AWAY.I am sure this would help.You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.Warm Regards,
Customer: replied 1 year ago.

i need specific information as to why this company is a scam not a generalized answer.

Expert:  Tax-Scholar replied 1 year ago.
I second Rakhi. This is not how business is done. No one would lend 7.5 Mill in this fashion. Stay away.
Customer: replied 1 year ago.
Relist: Answer quality.
you still haven't answered my question - i need specific information as to why this company is a scam - not a generalized arm-wave answer.