It’s hard enough to find financing for your business let alone worry about being ripped off along the way by scammers preying on your desperation for funding. Here’s a good one that recently came my way…
“We are most interested in business opportunities that require equity investment, debt investment and venture capital for start-up or expansion. Our group can finance your project satisfactorily if our investment is guaranteed a minimum of (%5) ROI for six years maximum period. The capital investment should be repaid in full at expiration of a contract duration or it could be converted into a minority equity stake.
We require no management nor board participation, but need investment insurance which shall be obtain from a world-class insurer in Dubai. All foreign clients must go through this mandatory process to ensure safety of our fund earmarked for financing of international projects.
If our corporate ethics is agreeable as stated, I shall proceed to present your attached business plan summary to our board for official review.”
This sounds like a great deal doesn’t it?
Having just come back from a speaking gig in Dubai, I can tell you it sure doesn’t look like they need $1-$5 million deals!
From a long-time American friend currently running a company in Dubai…
I don’t know for sure, but definitely sounds like a scam – for sure if they’re saying you have to pay for investment insurance.
I’ve never heard of investment insurance in 40 years of business (doesn’t mean it doesn’t exist but weird).
In addition, groups here don’t have dealflow issues and therefore no need to pay for deals.
“All investment companies situated in the UAE pay me “Finder’s Fee” for every deal that I broker on behalf of their various organizations.”
– For sure this is a lie, especially if it’s the finder saying this!
However, they would pay a finder in certain cases, but unlikely to establish a set contract for that.
Plus, most type, size and location of business is unlikely to be of interest to most investment/family groups here.
I don’t see the company listed here: http://www.indexuae.com/search.php?keytext=al+nahyan&page=2
I’ve seen many similar types of scams over the years with people presenting themselves as Dubai or UAE based.
Why would anyone in Dubai try and do <$1mil – $5mil deals when that’s generally considered too small given size of capital pools & the work for finder of larger deals is essentially the same for smaller deals.
Fraud alert: http://db.aa419.org/fakebanksview.php?key=80747
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