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Hi Fran L, I have not received any information on Xxxxxxx

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Hi Fran L, I have...

Hi Fran L, I have not received any information on Xxxxxxx NY that took my money but did not provide a service. I now would like to go through another provider by the name of JS Funds, they say they are registered with greater New York. They have a website JS Funds but I cannot get enough information. I believe they asked to put money of about 3% of the principle amount into an escrow account in New York. I have to transfer the money before they provide the service and if no service is provided I can have my money back. Please let me know if this company is registered in greater New York, do they have an address, is their telephone number registered in New York. Would they be another scam company again. How would I know if they are real, as the internet search did not provide anything more and no reference is provided. Can you advice if its alright to have the money send to an escrow account with a legal firm in US and if no service is provided, will they return the money as promise. Thank you.

Submitted: 4 years ago.Category: Legal
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10/12/2013
Lawyer: Irwin Law, Attorney replied 4 years ago
Irwin Law
Irwin Law, Attorney
Category: Legal
Satisfied Customers: 7,474
Experience: Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
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Hello. I am another contributor here and perhaps I can help. I can't say for sure at this point, but it sounds like you may be involved in an internet based scam. If you would like me to go further, please provide more details about what they are offering, and how they contacted you initially.
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Customer reply replied 4 years ago

Hi, the website is jsfunds.com how do I know if it's registered in USA. The phone number is XXXXX Their consultants are Xxxxxxxx, xxxxxxxxxx, xxxxx, Leigh xxxxx xxxxxx xxxxx, xxxx, xxxx xxxxxx, xxxxxxx xxxxx. The website did not come into my email. It's an advertised website on google that I click on. They have a partnership with VIA MAT in Switzerland. They have safe vaults in Switzerland, USA and Canada. Is the company a scam. Can escrow account with USA registered attorney be a scam? Please advice. Thank you. Morgan

Lawyer: Irwin Law, Attorney replied 4 years ago

You say that you have (apparently) lost money with something called Xxxxxxx Now you are considering using this JS Funds for something. What is JS Funds going to do for you? What are they offering to do for you? How much money are you to send them? I do not find anything good, bad or otherwise about JS Fund in the U.S. But that doesn't mean much. Scammers change their names all the time. For all you know, they are the same outfit as Mayfair. How much did you send Mayfair, and what was that for?

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Customer reply replied 4 years ago

I send $29k and they wanted more. Js funds wanted 3 times more or $100k for a three million SBLC which I have to put into an escrow account. They will then proceed to issue the SBLC of $3million to my bank. I have prepared the funds to transfer to them on Monday. Please advice. Thank you.

Lawyer: Irwin Law, Attorney replied 4 years ago

SBLC's (Stand By Letter of Credit) are rare and used mostly in industrial or bulk commodity sales, serving as a "performance bond" of sorts. IOW, the issuer stands ready to pay someone $ 3 mil should you default on some kind of contract that you are involved in. US banks generally will not accept SBLCs from foreign banks or issuers.
At first they wanted $100k but dropped it to $29k? That sounds very fishy Morgan, but you're really not telling me all that much. Frankly, I wouldn't send a dime, let alone $29k to anyone to buy a SBLC from a foreigner. Further, I wouldn't buy one from any bank unless and until it has been approved by your own bank for whatever transaction it's being used in. So don't send anyone any money until you're 100% sure of what you're doing.

I hope that this information is helpful. If you need further information, please just send me a reply asking for clarification. After that, I hope you will enter a positive rating so that I will be credited for assisting you. Also, be sure to verify this information with a local attorney who is familiar with your local laws and procedures. Thanks again for using this service. Your business is appreciated.

 

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Lawyer: Irwin Law, Attorney replied 4 years ago

Hello again Morgan. I continued to look into the SBLC matter, and have found a great deal of information indicating that this they are very often used for scams. Here is a website that you should visit: http://jonathan-warren.blogspot.com/2010/08/bank-instrument-leasing-and-letter-of.html . (Scroll down to the more recent stuff.) You can even submit your situation to this person for his evaluation. I'm pretty sure he'll tell you to pass. If you have questions and/or concerns please feel free to submit them by Reply:

I hope that this information is helpful. If you need further information, please just send me a reply asking for clarification. After that, I hope you will enter a positive rating so that I will be credited for assisting you. Also, be sure to verify this information with a local attorney who is familiar with your local laws and procedures. Thanks again for using this service. Your business is appreciated.

 

 

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Customer reply replied 4 years ago
Mayfair Advisors NY have now replied to my problem, they have told me to get a new application as my receiving bank have not responded to their bank. They have even provided me their banker emails. As for the service, they have waive the fees except for a new application as required which I will do so. Now that Mayfair and I have resolved the issue. We will proceed with our dealings again. Thank you for your advice.
Lawyer: Irwin Law, Attorney replied 4 years ago

Hello Again Morgan. Welcome back. Isn't it interesting how they always have a reason why something hasn't happened and you haven't received the money or whatever they promised. Isn't it also interesting that they keep lowering the amount of money you have to send them. Those are two indicators of a scam operation. Keep acting unsure and watch them keep lowering the amount you have to send. They do it until they reach your comfort zone. They'll take anything they can get. If I'm right they'll come all the way down to few thousand. But you're a competent grownup so you do what you think is best for you. I think I deserve at least a positive rating - excellent and $16.50 for trying to save you from losing thousands, don't you?

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