Buckeye Facilities Inc - Beware!

R3al

Just a warning about what may be a scam - I have recently been contacted a number of times by phone by a person claiming to be called Thomas Schwartz who says he works for Fidelity Investments the sales pitch goes like this:

Thomas offers to facilitate a purchase of shares on your behalf by reserving the shares at their current price, then if the shares go up you can go ahead with the purchase or pull out of the sale. If you agree to reserve the shares a "compliance officer" then gives you a call to confirm your address and the share deal details. You then receive some documentation from a company called Buckeye Facilitation Inc (no mention of Fidelity on the paperwork) with a purchase contract and a request to wire funds for the purchase of the shares. The small print of the contract states that the purchase is governed by the laws of the British Virgin Islands with exclusive jurisdiction of this territory - I have tried to locate "Buckeye Facilities Inc" on google but there is no data whatsoever for this firm, all the contact numbers that these people use are private numbers and the whole thing stinks of a scam, I'm fairly sure that if I wired the money I would either never see it again or else I am being sold worthless shares.

I have contacted Fidelity Investments to see if they have ever heard of Thomas Schwartz or Buckeye and I'll let you know their response in my next posting, in the meantime I would recommend anyone who is contacted by Mr Swartz or anyone offering a similar service to do a bit of research before parting with any money.

portomar

sounds like a boilerroom scam to me alright

Oryx

Anyone who cold calls and mentions 'investment' is probably scamming.

dunkamania

i am pretty sure its illegal to cold call in europe....

R3al

FYI

Fidelity Investments have got back to me and state that this individual does not work for or represent them and to ignore any correspondence received from him or his associates.

So this would definitely appear to be a scam.

BargainHunter

Ask the representative to fax you a copy of his passport. Then forward it to the Gardai.

R3al

The scammers have been back in touch now touting a "pre-IPO" for Ben & Jerrys, I've reported this to FSA and unilever, check out the scammers website at www DOT fidelitycr DOT com (dont want to create a link to their site)

R3al

The scammers have been back in touch, this time under a different guide - greenlook investments, check out the disclaimer on the home page of their website greenlookinvestmentsDOTcom, which basically says they are not approved under financial services legislation and any investor is at significant risk of losing their money.

A closer look at the domain name reveals that it has been registered as recently as august 2008 so they obviously create a new website for each scam.

God knows why they keep bothering to ring me at this stage as I have made it clear that I have no intention of "investing" with them

terryent

R3al wrote: »

FYI

Fidelity Investments have got back to me and state that this individual does not work for or represent them and to ignore any correspondence received from him or his associates.

So this would definitely appear to be a scam.

I posted a comment relating to Fidelity yesterday, but not sure if you saw this as I wasn't really certain how to reply. I was asking for guidance if you can, re having invested money in February last year through Tom Schwartz, sent money to Buckeye in February 08 and now wanted to sell the shares one year on. He called me on many occasions and even 'discussed with a colleague' what investment would be bst for me. Tom informed me that he worked for Fidelity CR and I have been in touch with them and they say that he has left them! Do you have any idea if there is anything that I can do now to expose this scam or to re-claim my investment. I know very little about investments. I am retired and am devastated by this loss.
Thankyou
terryent

R3al

Terry,

Just following up on the PM I sent to you for the benefit of anyone else who has been caught out:

I think your best bet is to refer to the Financial Regulator www.financialregulator.ie (or the appropriate agency in your own country) and see if they can do anything for you, at least you can still contact Fidelity CR which is a good sign, I have read previously that these kind of scammers like to keep leading on the clients in the hope of getting more money out of them so if they offer to trade your shares but require some kind of deposit or fee from you do not send any more money.

You can try to keep hassling them and threaten to report them to see if that will result in a refund. Also you might try the garda/police fraud squad

pocketdooz

terryent wrote: »

I posted a comment relating to Fidelity yesterday, but not sure if you saw this as I wasn't really certain how to reply. I was asking for guidance if you can, re having invested money in February last year through Tom Schwartz, sent money to Buckeye in February 08 and now wanted to sell the shares one year on. He called me on many occasions and even 'discussed with a colleague' what investment would be bst for me. Tom informed me that he worked for Fidelity CR and I have been in touch with them and they say that he has left them! Do you have any idea if there is anything that I can do now to expose this scam or to re-claim my investment. I know very little about investments. I am retired and am devastated by this loss.
Thankyou
terryent

This makes me sick. I think you should follow the advice given and contact the financial regulator and the Garda.

If they call back try and get any type of documentation from the caller if you can. Keep originals or copies of all paperwork you sent/will send.

I really wish you luck with getting your money back. Do not send them anymore whatever you do if they say you need to send more to get your original sum back or whatever.

If I can help let me know.


.

ranger4

pocketdooz wrote: »

This makes me sick. I think you should follow the advice given and contact the financial regulator and the Garda.

If they call back try and get any type of documentation from the caller if you can. Keep originals or copies of all paperwork you sent/will send.

I really wish you luck with getting your money back. Do not send them anymore whatever you do if they say you need to send more to get your original sum back or whatever.

If I can help let me know.


.

Better still ask for a meet up and give them a nice suprise.