Offshore Outsourcing & Scammer
Blog about offshore outsourcing and scammer in the outsourcing industry
Investment Scammer: Jörg M. Pohlig - WWFN - World Wide Funding
by Rudolf Faix Wednesday, September 14, 2016 11:23 AM

Scammer Jörg M. PohligSomeone who is offering investment opportunities needs to show that he is running a serious company and he is a trusted person otherwise he would not be able to find anyone who will invest into his ideas. A general rule by doing investments is as higher the promoted earnings are as higher is the risk to lose all of the invested money. Only stupid ones believe that there is any investment possible where is no risk. Making investments is sharing the risk with the investors. If someone finds a business where is no risk for the capital then he will go to the next bank and take a credit for running the business. The interest rates for taking credits are already a long time very low. Think about it why someone offers you a higher returns than the official bank rates? The answer is very simple. His business idea has such a high risk that not one bank will give him money or he is simple a scammer.

Such a scammer is Jörg M. Pohlig (other writings of his name are Joerg M. Pohlig and Jorg M. Pohlig). He is already contradicting himself in his sham offers, where is offering for investments bank guarantees. As soon as a bank is issuing an irrevocable bank guarantee the amount of this bank guarantee is not accessible for anyone except the recipient of the bank guarantee. The money remains at the bank account until it gets withdrawn by the recipient. Only the interest rate gets calculated until the money will get withdrawn. The interest remains on the bank account of the owner. Don't forget that not one bank will take any risks in such a case and don't forget that a bank guarantee need to get accepted from your bank too otherwise the guarantee has even not the value of the paper where it is written on it. So which kind of bank guarantee can be used in the investment business? The amount covered by an irrevocable bank guarantee cannot get used for any other purpose.

The scammer Jörg M. Pohlig is offering at LinkedIn:

BG LEASE AND ENTERING INTO TRADE IN ONE MOVE WITH TOTAL CASH REQUIREMENT OF ONLY USD500K!

500K will get you a min. of a 50M (FV) BG, max. is 1B. 1% of FV is necessary, 1% for SWIFT costs after contract is executed; which will decline as percentage as FV increases. All done and monetized within 12 business days.      Only Top Bank BG’s will be issued>>.....HSBC, Barclays or DB.........Infrastructure is set up to take Instrument directly into Trade.

Client receives approx. 34% of FV as NRL.

No limit to how many times Client can participate. NO project required. Client may use funds as they wish. Monetizer may help with investing in additional Buy/Sell if Client chooses. We have high Profit Trade Programs available.

Guaranteed success or full funds returned (Performance Bond will be in Place)!

To start we need Complete KYC/CIS with PoF of USD500K.

No Broker chains accepted for this offer.

IN ADDITION ARE WE SEEKING:

CASH OR INSTRUMENTS OF ALL KINDS!

Min. FV of USD5M.

Contract within 48 hrs. Closing within 8 days, depending on speed of verification.

LTV’s and Profits depend on a case by case basis.

Please feel free to send your Complete File at any time for immediate review.

*All monetization and trading done In House by our groups own Monetizers and Traders.

Please do not email us and send a text message stating you emailed us. Every action has a reaction and takes time away from moving us forward.

We do not accept: HARD ASSETS (unless precious stones), CMO’s and IBOE’s.

Always need to send KYC with Passport and all pertinent documentation.

WWFN

Asset Placement Coordinator/ PPP Facilitator

SKYPE ID: JOERG.POHLIG

Preferred way of communication is Email: wwfn@financier.com

The sentence above "Guaranteed success or full funds returned" is confirming the scam. If any investment would be so secure why he is not taking credit from a bank? There he would get the money cheaper than with the offer here if the investment is very secure. In this case he would only need to pay the interest rate to the bank and need not share any high returns with you. Don't forget investors are very greedy by nature - they are fighting even for fractions from cents.

Antonella MendelsonA partner in crime from the scammer Jörg M. Pohlig is Antonella Mendelson. She likes to be since 2005 at LinkedIn a self employed "Attorney at law" and at Xing she likes to be actually a "managing director" located in Budapest, Hungary. Additional she provides at Xing the information that she is speaking the languages English, German, Romanian and Hungarian. At both profiles, LinkedIn and Xing, she likes to make us to believe that she has attended the Universita Cattolica Del Sacro Cuore. Her problem is that this University is located in Milano, Italy. If she really would have studied there than she needs to speak Italian language too. Even her profile picture makes for me more the impression that she is nothing else than one of the girls, who have offered their services at the street to the tourists after the borders between Hungary and Austria got removed. Under these circumstances is her recommendation for Jörg M. Pohlig, given at the his LinkedIn profile, only a confirmation for his scam:

Jörg is a very capable, hard working individual and is very happy when his projects end successfully.

The scammer Jörg M. Pohlig has published actually 129 articles at LinkedIn, but his website shows the impressing content:

Screenshot from the website financier.com

The highlighted Durch sentence "Vraag naar dit domein" on the lower right part of the screenshot above means translated "Demand for this domain". With other words the domain is available for sale. But who will buy a domain together with a negative reputation?

Does anyone believe that one offer can get trusted coming from a broker who is using a free email address from a domain where you can get during a Google search 278,000 results if you are combining the domain name with the word scam? Does anyone think such a broker can make any real business? You can get email addresses with the ending @financier.com for free and without any verification from mail.com. Under these conditions take a view at the posting from the scammer Jörg M. Pohlig on July 21, 2016 at LinkedIn Pulse:

wwfn@financier.com
Dear Colleagues,

We had issues with our email account and called tech-support who unfortunately cancelled our long standing account all together. Afterwards they asked for several hundreds of Dollars to reinstate the accounts. Rather than struggling for much longer we created a brandnew email. One has to be careful which number to dial for support, I googled this one and thought I was in good hands. Please use this account from now on only.>>wwfn@financier.com
Thank you very much for your cooperation.

WWFN
Asset Placement Coordinator/ PPP Facilitator
TEL: 1 829 526 9732
SKYPE ID: JOERG.POHLIG

It looks for others that his email account got deleted for the reason of his behavior and not for any other reason. Such a reason is normally sending out a lot of spam messages. Especially free services are not allowing you sending spams.

Another World Wide Funding Network (WWFN, LLC) scammer is calling himself Alfred Schubert. Like each scammer is he not able to show his own picture at his LinkedIn profile - he simple does not like to provide a manhunt picture by himself and for this reason he shows the picture from Thomas Müller, Chief Executive at Sparkasse Goch-Kevalaer-Weeze (Germany):

LinkedIn profile from the Scammer Alfred Schubert showing the picture from Thomas Müller, Chief Executive at Sparkasse Goch-Kevalaer-Weeze (Germany)

The website wwfn.org has the same impressing content like financier.com:

Screenshot wwfn.org World Wide Funding Network

If someone is investing into WWFN then his greed is greater than his intelligence. That fact makes him to be the perfect victim of a scammer like Jörg. M. Pohlig and his cronies. Not one fairly intelligent person invests in such dubious offers where the broker likes to hide himself in anonymity. The looser Jörg M. Pohlig is even too lazy and too stupid for playing the role of a serious investment broker.

 

Fake News from India: Email Was Invented By A 14 Year Old Indian Boy 32 Years Ago.....
by Rudolf Faix Friday, May 27, 2016 5:58 AM

Shiva Ayyadurai the fake inventor of the emailEverybody seems to know already that India is not really a trustful country and everybody needs to be very carefully not get scammed doing business on the Internet. Now these people likes even to change the history of the email.

On the site from mensxp.com - which is calling themselves in their caption "MensXP.com - India's largest Online lifestyle magazine for Men. Offering tips & advice on relationships, fashion, office, health & grooming" - is publishing a very lazy author with the name Ankush Bahuguna the article: "Email Was Invented By A 14 Year Old Indian Boy 32 Years Ago. But Sadly, Nobody Remembers Him"

The article got published on July 18, 2015 and has been now showing up at Facebook. The article has only the problem that not one word of the story is true. The author Ankush Bahuguna belongs to the storytellers.

Let me show you the facts why this article is nothing else than a fairy tale. Let's go 32 years back in time starting from the year 2015 and we will be arrive in the year 1983. The computers have been at this time Mainframes. IBM presented their first personal computer - the base of the technology we are still using today - the Model 5160, better known as IBM Personal Computer XT on March 8, 1983 coming with with 128 KB of RAM, a 360 KB double-sided 5¼ inch floppy disk drive, a 10 MB Seagate ST-412 hard drive with Xebec 1210 Modified Frequency Modulation (MFM) controller, an Asynchronous Adapter (serial card with 8250 UART), and a 130-watt power supply. The motherboard had an Intel 8088 microprocessor running at 4.77 MHz, with a socket for an optional 8087 math coprocessor. PC DOS 2.0 has been the operating system. Older systems have been using 8-bit processors from Intel or Zylog, not more than 64 KB of RAM and have been running CP/M from Digital Research. Access to other computers, mailboxes and networks got done by using modems for dial up access.

The history of modern, global Internet email services reaches back to the early ARPANET, with standards for encoding email messages proposed as early as 1973 (RFC 561). An email message sent in the early 1970s looks quite similar to a basic text message sent on the Internet today. Email played an important part in creating the Internet and the conversion from ARPANET to the Internet in the early 1980s produced the core of the current services. The ARPANET initially used extensions to the File Transfer Protocol (FTP) to exchange network email, but changed to the Simple Mail Transfer Protocol (SMTP), first published as Internet standard 10 (RFC 821) in 1982.

1982 and 1983 is near together and the boy has been 1983 14 years old. How it comes that the protocol got declared already 1982 to a standard? Before something is becoming to be a standard it needs to get used from many people and SMTP is only a transport protocol and not the email itself. How it comes that Gary Turk from DEC (Digital Equipment Corporation) could send out 1978 already the first spam email in the ARPANET. 1978 has been Shiva Ayyadurai 9 years old. Does the author likes to explain us that Shiva Ayyadurai developed already computer programs before he learned to read and write in school? Don't forget that libraries, which we know from the actual time in programming, has not been available. Commercial programs got programmed in the language Cobol, which could not get used to program an UART. The only language to program an UART for the serial communication has been Assembler.

The article from the author Ankush Bahuguna shows only that the people from India likes even to change the history. What else can you expect from such a nation?

As nobody can win something from such a lie why such an article got published? Making someone famous for something which he did not do? Nationalism? The history teaches what is the result of nationalism. One bad example of nationalism can get found in the European history: Hitler.

Update May 29, 2016: The discussion and further research shows that the article at mensxp.com is full from failures. One of the easiest failures to recognize is that the author even has not been able to calculate the count of years in the headline. The article got published July 18, 2015. 2015 - 32 years equals 1983.

Shiva Ayyadurai got born December 2, 1963 in Bombay. 1963 + 14 years equals 1977. The difference to the result above is only a failure from 6 years, a very long time in the IT industry.

In the WikiPedia article about Shiva Ayyadurai we find:

As a high school student in 1979, he developed an electronic version of an interoffice mail system, which he called "EMAIL" and copyrighted in 1982. That name's resemblance to the generic term "email" and the claims he later made for the program have led to controversy over Ayyadurai's place in the history of computer technology. Mass media interest in his work has been followed by public retractions or removals of claims that he invented email by organizations such as The Washington Post and The Huffington Post, as well as the Smithsonian Institution.

The above part of the WikiPedia article shows now that we in an exact time frame where an mail system has been possible. The only problem is that Shiva Ayyadurai has been 1979 already 15 years old for the case that the provided date he started programming is true.

As he has copyrighted it 1982 the program, which he has been calling by himself "EMAIL", he has been already 19 years old. To have a copyright on a program is something different than an invention. An interoffice message storing program is not something what can get called to be an email and you cannot have invent something, which already exists.

Gary Turk from DEC sent out the first spam email on May 3, 1978:

First spam email sent out by Gary Turk from DEC

How can Shiva Ayyadurai have invented something 1979, which has been used already before 1978?

That shows the quality of journalism coming from India and how they like to change the history into their own favor. The problem is only with such a behavior they are pulling the reputation from their own country down. Instead of accepting the facts they are still living in their nationalistic dreams, which can get show in the comments found at the social media to this article. The problem is only that the history teaches us the big fails in the nationalistic dreams. Negative results from the past: Hitler, Napoleon.

Nationalism is every time dangerous. It starts by low level people which can try to impress with big words which don't have any value. The poor people, which don't have any education, believe into such words because they are not able to verify them. The low level from the nationalists get shown in the discussion at LinkedIn to this article. One of the worse comments are from Farukh Shah (Screenshot):

Farukh Shah

Do you see the point or I have to come personally and dig a hole in your head to allow this point to enter in your thick skulllllllllll

and (Screenshot)

Yes I can try finding what I am scared of is what If you are found in donkeys arse I am not showing my hand there to get u out u belong there mate or come out shut lol man

I don't think that someone likes to make any business with such low level people using such words like Farukh Shah who is calling himself to be a "Business Development Manager". Such people have no culture and are pulling the reputation of their own country more down. It is as typical sign from nationalists to ignore facts and to discuss in a normal way about provided information. Such people are believing only to their own construction of lies in their ill gotten brain.

Kshitij Tripathi likes to be COO at Apostle BPO Out Sourcing & Info Solution Services from Murrells Inlet, South CarolinaAnother comment which shows how the people in India are thinking is coming from Kshitij Tripathi (.pdf LinkedIn profile), he likes to be COO at Apostle BPO Out Sourcing & Info Solution Services from Murrells Inlet, South Carolina. He has written:

Rudolf Faix, the propaganda that you always do by getting TRP is good , keep it up but with other countries not with our country because we lives in democratic country where all citizens loves each other , and please stop making these post again otherwise things can be bad if this is reaching to national level, hope you understand where i am coming from , try to find scammers from our enemy pakistan , you will find many more to make yo famous

He thinks that other countries are not democratic and that it would be better to search for scammers from their enemies in Pakistan. The problem is only that from around 140 scammers I have listed in my blog are coming more than 100 from India. I can understand in his case his reaction, because about him and Apostle BPO Solutions has written Jessica Narcovich on April 7, 2016 at LinkedIn Pulse the article Scammer Alert(Apostle BPO Services) and at ScamBook we can find three entries dated on March 26, 2016, April 28, 2016 and May 13, 2016 with $ 23,000 damage. In such a case will it even not help to announce at LinkedIn an address from the U.S. if the real location is India.

Intelligent people are leaving such a country and change their citizenship like the Google CEO has done it. At WikiPedia is written Sundar Pichai - Citizenship United States.

Instead of using their energy in fighting against the scam in their own country, which would increase their own reputation and would make them more trustful, the people are lazy and are even trying to changing the history by manipulating the dates and with lies.

It is easier to come up with lame arguments like India is a big country with more than 1 billion citizen and citizen from other countries are scamming too. Sure you'll find crime in each country as each country has jails with prisoners in it, but using that as argument shows only that more than 1 billion people are not able to stop the scammers which are ruining the reputation of their own country. Who can stop in such case the scam coming from there if the local people are simple too lazy to stop them? Searching for excuses only will not help the people which got scammed. You'll find more scammer in a big poor country. A fight against scam and fraud need to be done at the place where the most of the scam and fraud is coming from.

 

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Scammer: Castle Pension Solutions - castlepensionsolutions.co.uk - Paul Rowe - Nick Danks - follow up
by Rudolf Faix Sunday, May 24, 2015 5:59 AM

Paul RoweLike every scammer has been Paul Rowe unhappy about my results. After my last article "Scammer: Castle Pension Solutions - castlepensionsolutions.co.uk - Paul Rowe - Nick Danks", Paul Rowe has sent me an email about his ideas. The content is similar like I'm receiving it from every other scammer. Even in the email is his full name missing and does not really represent a company or what someone can expect from a correspondence with a serious company.

Read it by yourself:


paul <paul@castlepensionsolutions.co.uk>

26. Apr.
   
an mich
 
 
   
 
 
 
Morning 
 
May I just ask your reasons for a malicious conduct on social media ? 
 
You don't know me and you have never dealt with me so how can you make a judgement or a comment?  
 
First of all the call centre in question - 
We provided the company with data to call. 
 
The quality of leads received which I have full reports on where not even a lead for the product in question.
 
Payments where to be made on qualified packs back of which if they are questioning about the funds they actually now owe us money due to claw backs for the clients that don't have the facility on there cases. 
 
I have stated a number of times to deal with us through the correct procedure.
 
But I can clearly see that there work ethic is this way.
 
I will certainly be taking advice in the morning and all that are involved will be dealt with accordingly this is harassment and slander.
 
People should obtain the facts and do things correctly.
 
Also nick danks if you had looked in to things properly he is just a Web creater. 
 
Regards 
 
Paul 

In business life is only that real, which is written down. Every spoken promises need to get into a written form that they are provable. It is true, that I don't know him and I'm glad that I have never done some business with Castle Pension Solutions. I have taken only the written words for showing that he is a scammer.

Before I go into the quality of work, which he is complaining, I list the facts, which are given from the UK government sites.

The UK Companies House warns on her website about the scamming methods, which Castle Penison Solutions is using.:

Scams are promoted using terms such as an offer of unique investment opportunities, free pension review, legal loophole, cash bonus or as a government endorsed scheme and victims are being approached via cold calling, text message or in person door to door. You should treat all approaches about your pension with caution if it is not from a source that you recognise and trust.

If you are approached, do not share your personal information or sign any paperwork. You are able to check whether the offer of service is genuine and the Pension Advisory Service website can help.

A search for Castle Pension Solutions and Paul Rowe at Companies House, the Fincancial Service Register and the Interim Permission Consumer Credit Register remains without result. It can be possible that he is self-employed / sole trader. In this case he need to include his own name and his business name (Castle Pension Solutions) on any official paperwork, like invoices, letters, promotion, etc. This information is missing on the website http://www.castlepensionsolutions.co.uk/. As there is no responsible person and no address information listed, is the owner of the domain for everything on the sites responsible.

The whois information (nominet.org.uk) returns Nick Danks as owner of the domain castlepensionsolutions.co.uk - the registrant is the owner of the domain and the registrar is the name of the company, which has registered it:

Castle Pension SolutionsDomain name:
     castlepensionsolutions.co.uk
 
 Registrant:
     Nick Danks
 
 Registrant type:
     UK Individual
 
Nick Danks Registrant's address:
     21 Simonburn
     Washignton
     Tyne and Wear
     NE38 0NJ
     United Kingdom
 
 Data validation:
     Nominet was able to match the registrant's name and address against a 3rd party data source on 27-Mar-2014
 
 Registrar:
     Paragon Internet Group Ltd t/a Tsohost [Tag = UKWEBHOSTING]
     URL: http://www.tsohost.co.uk
 
 Relevant dates:
     Registered on: 27-Mar-2014
     Expiry date:  27-Mar-2016
     Last updated:  24-Mar-2015
 
 Registration status:
     Registered until expiry date.
 
 Name servers:
     ns1.tsohost.co.uk         185.52.27.27
     ns2.tsohost.co.uk         95.142.155.4
     ns3.tsohost.co.uk         95.142.154.15
 
 WHOIS lookup made at 13:13:39 09-May-2015

At Google+ we find an address of Castle Pension Solutions. Even on this site is the ownership missing:

Castle Pension Solutions
24 Farrier Close Washington NE38 8RW

 

At the UK Yellow Pages we find a free entry - again without a real name:

Castle Pension Solutions
Investment Consultants
Speculation House, Speculation Place, Washington, NE37 2AP, Tyne and Wear
Tel: 0191 4479400

That have been the facts and this facts did not get invented by myself - they are written down in the UK law and can get confirmed by following the provided government links. According the above information is Nick Danks not only a web creator. He is the owner of the website and the "company". For the case Nick Danks has been working for Paul Rowe for creating the website, Nick Danks made a terrible failure by registering the domain on his own name instead of registering the domain under the name of Paul Rowe. Such failures are normally not done from absolutely beginners. Additional is written at the website: "Designed by The Duo Group" and not by Nick Danks.

As Paul Rowe and Nick Danks are ignoring already the basic law about naming companies and don't know about their own responsibilities and duties, I think that they have even not registered their "company" at the tax office.

The remaining complaints in the email are nothing else than self protection. Each SCAMMER thinks that he only need to complaint the quality of the delivered work that he need not pay something. I read the same justification in each email from a scammer. They use the same arguments like Paul Rowe and are thinking that they need to write something and it is enough. Proves are like every time missing.

Paul Rowe contradicts himself with his argumentation of the quality from the leads. If the leads are not in the expected quality then he does not need to find excuses for paying later, telling lies and giving unreasonable excuses. Such a behavior is only done to keep the call center working and taking advantage of their unpaid work!

Even now he promised to pay if the negative comments will get deleted from the social networks. The only problem is that nobody will believe someone, which has lies permanently!

 

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Scammer Exposed

Buy & Sell - financial instruments
by Rudolf Faix Sunday, March 8, 2015 9:58 AM

As you already found out, 99.99% of the people visiting internet boards are full of crap.

I hope the following information will give you a better insight into the actual conditions that are acceptable to the real people trading financial instruments as opposed to all of the nonsense that has been perpetrated by the brokers and others that simply do not understand the nature of this business.

First, let’s put to rest many of the things that are incorrect and inaccurate about buying and selling instruments.

Consider the following corrections to items that are pervasive throughout the brokers’ network, continue to be included in Letters of Intent, have been incorrectly applied to these transactions and are never a part of a real agreement between a real seller and his buyer counterparty in the trading world:

  • First and foremost, the days of the buyer standing in the public square and dropping his pants while the seller hides in the dark and is "protected" by some broker that calls himself the "mandate" are gone from this business, never to return.

  • The letter of intent can never become a contract. This is contrary to contract law. The seller and the buyer will always enter into an enforceable commercial contract or agreement. The letter of intent is just that, an expression of the buyer’s interest or intention. More than 95% of the time, the letter of intent is written by a broker, not by the seller and, for the most part, these brokers have just cut and pasted information that they obtained from other brokers.

  • Banking coordinates are never conveyed in a letter of intent. These are very confidential and are not the business of the broker network. In fact, banking coordinates are never conveyed in an agreement. Banking coordinates are only conveyed principal to principal.

  • The laws of perjury do not apply to any commercial document, or agreement. This is contrary to contract law and it is impossible for someone to perjure themselves in a letter of intent or interest.

  • There are no rules, regulations, acts, ordinances or laws (including the US. Patriot Act of 2001) that require a buyer to produce a proof of financial capability prior to acquiring any instrument.

  • There is no agency or department of the US Government that approves the private sale of Medium Term Notes (MTNs) or Bank Guarantees (BGs) and there is no department that issues a "Fed number" for MTNs. This is all broker nonsense.

  • Banks do not endorse fee agreements, contracts or letter of intent letter of intents. This action would place a financial liability on the bank and they cannot and will not incur that liability on behalf of their depositors.

  • Banks do not issue irrevocable conditional bank purchase orders (ICBPO), or any purchase orders, period. In fact, a bank is precluded from incurring any liability on behalf of a depositor. And, the words "irrevocable conditional" form an oxymoron. No western world bank will issue a MT543, as it is a liability on behalf of the bank. In fact, as of September 1, 2003, the MT543 is gone from the banking world.

  • Issuing banks do not enter into agreements to sell their financial instruments and the buyer’s banks do not enter into agreements to purchase the financial instruments. The agreement is always between the buyer and the seller. And no banker or securities officer is going to act on behalf of the buyer or seller until and unless there is an agreement in place.

  • Collateral first is the most misunderstood phrase. Collateral first does not mean that the actual instruments move to the buyer before payment. It means that the seller must provide an invoice setting forth the details of the instruments, before the payment is made. There is no longer such a thing as a collateral first settlement via Euroclear and there is no such thing as a "collateral first" DVP settlement, these are not the same settlement types.

  • There is no such thing as "due diligence" by some "agency" for seasoned instruments. The buy/sell transaction between private parties is private and does not require the approval of any governmental body or agency.

  • As a result of the post-September 11 rules on wire transfers of funds, it is no longer possible for buyers to move cash funds in amounts over US$500M without the funds being stopped and investigated. Accordingly, offers that set forth tranches of $1b, $5b and more, are just pure nonsense.

  • The ICC in Paris, France, is not an enforcement, adjudication or legislative body. They are simply an information body. And, they have never published anything on the subject of NCNDs. Accordingly, the ICC has no jurisdictional authority or standing in any commercial agreement.

  • Contract law sets forth that there cannot be any conflict of jurisdictional oversight to an agreement. Accordingly, an agreement cannot contain multiple jurisdictions as the controlling laws. Example: "This agreement is governed by the laws where the buyer and the seller reside and the ICC. Paris, France". Or "this agreement is governed by the laws of the USA, UK, Hong Kong, Switzerland and Germany" were written by someone who knows nothing about the law.

  • Bank guarantees are never on any screen (DTC or Euroclear) for screening, authentication or settlement. All BGs must be transacted via standard non-Euroclear DVP protocol settlement procedures.

  • Medium term notes (MTNs) are only on Euroclear, not on DTC, for screening, authentication and settlement. All MTNs and bonds on Euroclear must be transacted via standard Euroclear DVP protocol settlement procedures.

  • Prior to January 1, 2003, it was possible to settle on Euroclear with a collateral first settlement. The seller provided the buyer with the invoice containing all of the instrument and Euroclear codes, including the blocking code. The buyer would then screen the instruments, block (delivery) the instruments in its name and then pay the seller via wire transfer of funds. Euroclear called this a "free delivery" as the instruments were blocked in the name of the buyer without any funds being delivered (payment) at the same time. There were too many incidents where the funds never were wired, causing both the seller and Euroclear big problems. So, as of January 1, 2003, there are no more "free deliveries". All instruments on Euroclear must be transacted via standard Euroclear DVP protocol settlement procedures.

  • Standard Euroclear DVP protocol settlement procedures and standard non-Euroclear DVP protocol settlement procedures, do not require and, in fact, preclude the need for a proof of funds, proof of capability, financial capability letter, MT760, MT543 or MT799. This is handled in the bank to bank call, after the agreement is signed and in place. Accordingly, no one will issue these documents, as they are replaced by the bank to bank confirmation call that must take place immediately after the agreement is signed.

  • MT100 and MT103 are conditional swift transfers of cash funds. The MT100 has not been used for more than two years. The MT103 is the current method of sending a conditional swift transfer of cash funds. However, the MT103 is only used for fresh cut (new issue), funds first transactions and never for seasoned paper or a DVP settlement transaction.

  • MT760 is not a proof of funds, blocking of funds, movement of funds or settlement document. It only has one purpose. Its purpose is for the actual movements of the bank guarantee (not MTNs or bonds) from the seller’s bank officer to the buyer’s bank officer.

  • MT799 is a simple text message, sent bank to bank. In this business, this is used for a bank to bank proof of funds, only. The MT799 is not a form of payment and it is not a bank undertaking or promise to pay. It is simply a bank to bank confirmation of the funds on deposit, nothing more. And, all of those brokers out there who modify the MT799 to make it look like a bank undertaking are just kidding themselves.

  • Standby Letters of Credit (SBLCs) are not instruments that are issued, bought and sold at discounted prices. When a bank issues a SBLC, the price to the buyer is 100% of face value, plus the bank service charge for the instrument. And, the purchaser of the SBLC will ask the bank to place a restrictive endorsement on the SBLC, for the payment of a specific item of goods or services. All offers for large amounts of SBLCs at discounted prices are absolutely fraudulent offers.

  • A fee protection agreement (FPA) that states "to be determined" or "to be nominated" as the name of the paymaster for either the buyer’s side or the seller’s side is absolutely worthless. No prudent business person will issue a blank document. And, if you do not know the name of the seller’s side paymaster, then you do not have a valid offer and you do not have any way of delivering the Ready Willing and Able (RWA) letter to the seller.

  • There is no such thing as slightly seasoned instruments. Instruments are either fresh cut (new issue that has not been registered with a buyer) or they are seasoned (instruments that have already been sold to one or more buyers). While the price of seasoned instrument can vary, the fact that they are either seasoned or not seasoned is binary in nature.

  • There is no such thing as the "gray screen", a "Fed ID" approving the acquisition of MTNs, a "Fed Pool", "Fed program" or "Fed trader". This is all pure broker nonsense.

 

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I'm since more then 35 years in the computer business (programming and technical support) and using the Internet since it has started. Since 2002 I'm programming solutions for Asterisk and since 2004 I'm in the call center industry.

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