ROUND 3 SBLC MYTH AND FRAUD

Round 3 SBLC Myths and Fraud

This article is in continuation to my previous two articles that I had posted over here. What is still happening in the filed with so much of buzz around and anybody uttering this name, is so serious and gets on so busy with pursing it further. Now to what level it has reached :

Nowadays I feel more client who are so desperate that they need funding any which way, by hook or crook (but finally they all end up HOOKed by CROOKs). Clients have unrealistic project funding requirements, which they want to fund it in this route, without even being aware that this is a very big hoax. Firstly many clients ask me, does issuance of SBLC or BG, does not happen across the Globe, it happens every day, every min and in every country. But then why is not that any of these people do not get it. Firstly if you look at the list of clients who queue up, doors are shut for them in the conventional banking method of funding OR Private funding or Investments are also shut doors for them (probably they do not have any thing to justify their claim for such a huge requirement) OR they have huge debt on their back from their past Mistakes or Wrong decisions, which they want to hive off. Each one of them is correct, that they should have hope and move more optimistically, but at the same time, they should look at their own strengths in terms of Experience, and how much they can get the funds on the table, their net worth, their turnovers, their financial standing in the market etc.

When you have a host of clients queuing up, there are more than 100 brokers (sorry I should use the word so Called consultants), who look up on the Client, as how Hyenas or Vultures prey on their Victim. I used to observe that couple of years back the Intial so called TOKEN advance used to run anywhere between 50,000 to 1,00,000 (breathe not INR , but in USD and some are more smarter, they say we will issue from UK, and you have to pay in POUNDS (sad the client does not know that it is his POUND OF FLESH), and these brokers are smart and have good knowledge on the currency exchange rate). Nowadays it starts off with as small as 2K USD and depending on how the Client can get tricked it end up in massive sums. The Brokers come out with fancy JARGONS which makes the Client get carried away like, Once the client pays up the initial advance, the Brokers demand such papers which are next to impossible to be given, and finally they blame the client, that because of the client the deal did not get through. I am sure whomsoever is reading would have ended up Loosing Couple of xx000 or more, if they are client. If brokers are reading it they will be cursing me and waiting to gun me down.

Now where did I learn so much intricacies of this trade, I was also a consultant once and got hooked onto to so many next level so called consultants and all of them you see only on the mail, and beauty is none of them have an official id of theirs, (probably all these guys are earning so much and they want to do charity and not waste money), they all have free gmail, yahoo, hotmail accounts only. I did two mistake of collecting advance from my clients and giving it to such brokers, and now repaying back my clients from my pocket. This made me to delve deep in this industry and check out.

It is my sincere advice to all the Clients, if you do not have numbers on your balance sheet or previous turnovers or net worth do not waste even a minute in this, it will be like MIRAGE and you will finally be only WANDERING and WONDERING. If at all you full fill all these parameters, there is nobody there to give it. SBLC if you look at in a Nutshell is like, THEORITICALLY I GIVE YOU 100 USD AND IN THAT YOU GIVE ME BACK 15 USD, it sounds fantastic. (every person on the world will accept the deal), But the reality is I FIRST TAKE YOUR 15 USD AND YOU NEVER SEE THE 100 USD.

Next article will be with names and email ids with whom, we had interacted with net result as 0 (and I am thankful to them too, as if they were not there, I would not learnt so much in this).