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I am an Australian citizen who bought 50,000 share on Hong…

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HI I am an...

HI I am an Australian citizen who bought 50,000 share on Hong Kong exchange through a Hong Kong agent on 23 Nov. 2015. I got a call from Orion Holdings Incorporated that they had a customer that was willing to pay $7.21 ea for them $360,500.00 in total but I would have to pay the $ 7,255.45 S144 Removal which I did on the 14 July 17. Then they came back with W-8BEN form which I filled out on the 28 July 2017 Now they said I will have to pay the IRS 30% withholding tax of $108,150.00 which I did not have so I broke it up over 7 payments of $15,450.00 USD I made my last payment on 6 Sept 17. This was all borrowed money. Now they are asking me sign over the shares before I have seen the money. Is this a scam ???

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Hi, I am an Australian citizen who bought 50,000 shares on Hong Kong stock exchange through a Hong Kong agent on 23 Nov 2015. I got a call from Orion Holdings Incorporated New York that they had a customer willing to pay $7.21 ea for them total $360,500.00 Total. I filled out all the confidential paper work because they said the customer did not want to be known due to a take over bid.

Submitted: 9 months ago.Category: Tax
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Answered in 3 days by:
9/22/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 9 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,446
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I possibly is... Very strange to ask that you have to pay these items up front. You should say that you want to use escrow for the share transfer. That way the escrow agent will not let them go until the money is received.

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