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Dear sir,
My name is hardeep singh. I was called somewhere in october 2010, to invest in international stocks.
The information i got from them was very convincing so i decided to invest in them. The data i got from the net looked quite fine and there was money to be made, i realised.
There website is sovereign-international based i hong kong.
I did sent money to offshore bank account which i have detail of.
They do communicate with me, i recently told them that i wish to cash a small part of my shares, somehow they where reluctant to cash them, but after a few days of convincing, that's like about 3 weeks ago, they decided they would sell afew shares.
I told them i need just 3500 dollars meaning i would have to pay the IRA 30% back which i felt i could, instead they later told me they had processed 35000 dollar and 30% of that is like 10500 dollars, they told me i must send it immediately so that they can process. I called the IRA in philadelphia asking them if my stockbroker had sent them my papers, they asked me for my ITIN number on the W-7 form which they said they had no information on me, that is when i felt that something is wrong.
I have been searching on the net for so many days looking if i am a victim of something i know nothing of. Today, when i searched the net, i found this site, to determine if there are other people like me, or maybe i am just dead wrong about the whole affair.
Can somebody out there advise me what is going on!
If there are other people like me, i have all the correspondence with them
Mr Ronald Cordina, please send me your email address on this forum. mr singh Thank you.
Hi D.Dave, please email at hsk262000@yahoo.com regrds Hsingh
Dear Paulus082, i sent a trusted party to the centerlevel and checked for there office and is apparently non existance, so there are operating from some Boiler Room. Check under complaint's board of Source One International a derivative of Sovereign International POSSIBLY.
And mostly probably there not even in hong kong, there lines have been rerouted via hong kong for some other continent.
Dear Paulus081, yes there are 2 Noble Offshore in taipei and gateway international in cyprus. If you want to share some notes email at hsk262000@yahoo.com
Dear Mr Singh,
Exactly i was also contacted in October 2010 by the phone and same as you i invested some amount. Now i told that i need money and requested a payback, exactly as in your complaint they asked me to pay a % 30 of my investment which i did not yet pay. Could you please let me know in case are there any news of your payment so that i would know whether to really pay this 30% or are we the victims of a fraud? Please send your answer via email on the address tercan@net.hr [protected])
Regards,
Oben Tercan
tercan@net.hr
I am in exactely the same situation. I was sceptic about these people and agreed on investing only a small amount ($5300) to see if these people are trustworthy or not. I had been contacted by Charles Chipchase invested on the 24-Sep-2010. Now I realise that my gut feeling was right. Since January 2011 I have been trying to liquidate my investment and cash it back. I did this since i was being pushed into a bigger investment of around $100, 000 which notwithstading it looking lucrative, the trust feeling hadn't yet been built. So i asked them to liquidate my investment and transfer it to my account. If they had done so i would have been convinced and would have invested the larger amount. To date I haven't received anything! I consider the money lost. The other people who have spoken to me were: Michael Bain and William Collins.
As representative of Fraudsters.com I would like to confirm that Sovereign International (www.sovereign-international.com) is a fraudulent activity conducted by the same people that created other fake "off shore investment companies" such as:
Anderson Shaw Group, Birchall McCallen, Cornerstone Worldwide, Eurasia Trade, Mann International, Pharos International, Pro Capital Management, Source One International, Vantage Capital International.
All these companies are a cold-calling boiler room entities. More info about the fraudsters can be found here:
http://fraudsters.com/about-fraudsters
Please report your case to your local Economic Crimes Dept. at Police office and to FBI through www.ic3.gov
Please mention that it is linked to other listed companies. We have to link cases.
Fraudsters.com is a group of people victimized by the scammer behind those fake companies. If you want to join us - please contact us through our contact form at fraudsters.com. We have to exchange cases details.
I am also in this very bad situation. I have invested about 40, 000 USD. Please excuse my lousy english skills as I am from Austria... Well, when I requested to get my money back from Sovereign International, everything got difficult. I would need to send more money as a surety bond because I might be a person the IRS is looking for. Reason: I should be involved in a tax fraud in the US. Now, please let me know your latest information on this mean fraud: Who did you contact: Local Police, I read something about contcting the FBI? What are the latest progresses you have made, what are the next steps we need to do together? I would really like to get these people from Sovereign International behind the bars and see my money back, which I guess will never happen. Anyway, please send me your details and all necessary information about the next steps. We need to cooperate in this matter! You can reach me under s.meier@gmx.at at any time.
The people who have been in contact with me at Souvereign were: Steve Klein, William Forsythe, Paul Kronenberg. I hope these names will show up if someone tries to find the names on Google etc.
Smeier: We have sent you an email.
very much the same story about Sovereign International and i see the same names Micheal Bain and Paul Kronenberg, when i tried to "re-patriate" some funds I got some compliance issue and funds could not be released, before a make up trade has been done?
it is now October and these guys are still operating as i keep getting phones calls from them, has anybody been able to get any assistance on this? would really like to know what developments if any have happened.
Very much the same story here as well. I was contacted late October 2011 and did some investment with them. In total about $12, 500.00. Everything looked alright until I requested a payout of some funds. Was told that I need to "Post a Bond" for 30% of the payment value, for tax purposes. If there is no tax liability after 30 days, this was refundable according to them.
As I am a South African citizen I enquired with the IRS call centre about this and was advised that as in any other Country in the world, tax is withholdable and no "Bond Posting" is required by them. I was contacted by the following people: James Wolfe, Micheal Bain, James Pace, William Forsythe and Stephen Phelps.
They seem to be very good in what they are doing as I had them called by a local broker and they even convinced him about there authenticity.
Sovereign International is apparently an American Company, but not registered with the Exchange Control Centre in America.
I reported it with the Police department in Hong Kong and is waiting for a reply from them.
Lets all see to it that this is stopped.
What else can I do?
Dear hardeep sing 1
The bank details that thy gave me was: Noble Falls Offshore limited, Bank Sinopac, Taipei City, Taiwan, ROC.
Did they also give you this bank's details, or another?
Hy there,
I am from Hungary and I am in a similar situation to people wrote before. I invested 3.274, 92 USD 2010.07.29 and got back nothing. I needed to transfered the money throgh the Eurobank Efg Cyprus Ltd. After the first investment the brokers of Sovereign International started to call me and send me trade conformations trying to push me more investments. Did not succeed. I had to scan my ID card and send to them by e-mail. Finally they said I need to make a new wire transfer (10.000 USD as I remember) to get back my investment. When I said I do not have more to invest, their advice was to take a loan from a bank. Probably they thought I am stupid.
An important thing: They said they do insider trading. This can be illegal.
Names: Claudia Lopez - the first who contacted me from SI, Tom Harding - contacted me at the beginning (from his accent I think he was English) Simon Michaels - Client Servises Support, Samantha Jones - Accounts Receivable, Michael Bain - Director of Institutional Trading, Paul Kronenberg - V.P of International Trade, James Pace - V.P. of Client Development, Steve Klein - Director of International Development, Rebecca Tan -Executive Secretary to Steve Klein, William Collins - Director Client Services
I have all the documents sent by SI brokers (Wire instructions, trade invoice, trade confirmations, official reciept of payment). If necessary I can attach all of it in pdf format.
Can anybody help to get back the stolen money, or take legal action?
Peter