- Report: #1480239
Complaint Review: SJ Global Investments - London
Reported By:
Lost deposit -
Dubai, United Arab Emirates
Submitted:
Updated:
-
Author Confirmed
Why?
SJ Global Investments
3 Muirfield Crescent London, E14 9SZ United Kingdom
Phone:
+447888878911
Web:
www.sjglobalinvestments.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
SJ Global Investments Samuel Jones Holdings Peter Samuel Neil Walsh Deposit scammers. SJ Global is in the business of issuing fake letters of credit for finance purposes. London
Report Attachments
SJ Global has a number of entities in various countries ranging from UAE to Uganda. However, the company and its representatives operate out of the UK.
SJ runs a number of cons all predicated on easy terms for trade finance, or easy terms for investment. The company solicits margin advances or deposits prior to issuing their "easy terms". In this particular instance, the company was paid $250,000 as margin on a commodity trade in which SJ was to provide a valid letter of credit.
The deposit was paid and the wording of the LC was such that is was not a drawable LC. Further, it was an accommodation LC promised from another institution which was never issued as an effective trade finance document. We ended up settling the trade on a cash basis however SJ refused to refund the margin deposit. SJ's expected fee or profit for issuing the LC was expected to be $20,000. however the kept the entire $250,000
1 Updates & Rebuttals
Martin
United Arab EmiratesS J Global Investments Worldwide summoned in New York court for Fraud/conspiracy to defraud FAT Brands -
#2Consumer Comment
Wed, December 18, 2019
The case alleges that S J Global Investments and its directors Neil Wemyss Walsh, Kristina Fields and Peter Samuel colluded/conspired to commit fraud with PPMT Inc & Royal Gulf Corporation to misrepresent that they had access to $100m of financing from the Al Thani Royal Family of Qatar to assist FAT Brands Inc, owner of the famous Fatburger franchise, in various business transactions. FAT handed out $100,000 in fees to PPMT, but also incurred legal and other costs in translating the deal, and its failure eventually led to impacts to its share price. FAT Brands Inc is seeking compensation for its losses which it is asking the court to determine.
The documents show a chain of events leading to the court case which FAT Brands says was a deliberate set up to extract money.
Read the indictments Sj Global Investments Worldwide Limited
and Fraud summons against Neil Wemyss Walsh
The legal action, which alleges that PPMT's Chief Investment Officer Karl Douglas, is a convicted fraudster and bankrupt and that S J Global's directors are "simply a bunch of fraudsters" and all sought to misrepresent their financial status and their links to the Qatari Royal Family, is seeking financial redress for its losses.
