No one wants to believe that it could happen to them. You ignore the signs, hoping that what is happening is all in your mind. However, you know it’s not. That’s exactly what happened to MX Properties.
Last year, MX Properties engaged an external consultant to help them find new and lucrative opportunities that they could get involved with. Fortunately, this consultant knew of several opportunities with a couple of different companies that would allow them to purchase financial instruments used in bank to bank lending transactions. This sounded very intriguing to MX Properties, so they gave the consultant the ok to make the necessary contacts to get the ball rolling.
After several months of conversations and drafting of agreements, it came time for MX Properties to take the first steps and wire money to various banks in order to set up the necessary bank accounts needed to establish lines of credit to be used to purchase the financial instruments. MX Properties complied with this step and wired $1 million dollars to several different entities and awaited confirmation of the bank account set ups. Unfortunately, these never came.
Disturbed, MX Properties attempted to reach out to their various new contacts in an effort to get updates on the situation and to find out what was causing the delays. They received many bogus stories before their communications began to go unanswered completely. Of course, MX Properties reached out to their consultant to see what was going on. It was at this point that the consultant acknowledged that these partners weren’t exactly honest businessmen and that there was more than likely fraud occurring.
This led MX Properties to begin seeking legal remedy to the situation, however since the money had been sent via bank transfer, recovering it wouldn’t be an easy feat. The consultant later received a letter from a lawyer in Lisbon Portugal, Carmen de Souza, claiming that she could help move the stalled transactions forward and get the project funds released for a fee. MX Properties was initially skeptical about sending any more money to anyone, however when they received the requested written confirmation that instructions would be sent to the banks for payment immediately upon receipt of the payment of fees, they did send the money. This, too was met with no action and resulted in the loss of even more money.
MX Properties is continuing to fight and attempt to recover their money, even looking at Lisbon Lawyers. However, this time they are taking the vetting of legal professionals very seriously. They no longer blindly trust in business partners or legal representation and are committed to doing a thorough background check with anyone they plan to do business with. This is sound business advice and should be utilized by all companies as a way to avoid fraud and the loss of much needed capital.