22. In 2004, Defendants pursued funding through a transaction in which, in exchange for an advance fee of $200,000, FiberPoP was to receive at least $20 million. Defendants never received this funding.
23. In 2012, Defendants provided an advanced fee of $10,000 to “Vital Funds, Inc.,” ostensibly toward a two-year lease of a $33 million stand by letter of credit. The individuals involved with Vital Funds, Inc. were found guilty of prime bank scheme-related criminal charges in April 2015 in U.S. v. Holland et al., 3:14-cr-73 (M.D. Fla 2014).
24. In June 2013, Defendants deposited $500,000 into an escrow account as a deposit for a $35 Million stand by letter of credit. The individual with whom they deposited the funds emptied the escrow and was indicted for conducting a prime bank scheme.
25. In 2013, Defendants entered into an agreement with Worldwide Funding III wherein they deposited an advanced fee of $90,000 into an escrow account, purportedly in exchange for a €10 million financial instrument. This instrument was then supposed to be placed into a trading account for FiberPoP’s benefit. The escrow account was emptied in September 2013, and Defendants never received the €10 million financial instrument.
So, little company, lying through their teeth to get investment. Which they then blow on a never ending series of frauds upon themselves.
But sadly, I know someone like this. Years back I was asked to sit in on a meeting where he was offered participation in the Prime Bank Guarantee scheme. After the meeting I said, it’s a scam, they don’t exist, there’s nothing to this, DO NOT PUT ANY MONEY IN.
He did and he lost it of course. Strangely, that meant that when he was offered another such scheme he didn’t ask me and still invested and lost more.
Some people just won’t be told.