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  1. #1
    Join Date
    Apr 2012
    Posts
    1

    Two Canadians in Dubai Loan Proposal

    Our company based in Netherlands was approached by two canadians about 18 months ago about possibility of LIBOR plus loan originating from a Dubai based Debt fund chaired by the emir of Dubai. The team of two canadians asked for an insurance fee and other deposit which was purported to be returned to us on completion of the funding. There was a preliminary offer to fund letter issued by one of the two funding agents but not the original fund based in dubai. Over the past 18 months, several times we were told that the funding documents will arrive in a few weeks only to be told one or two days prior to the deadline date that they are going to be delayed again. Also the deposit refund is being postponed for reasons unknown. The two canadians are in touch with us regularly but simply are not delivering. Anyone have the same or similar experience or have a positive funding experience, please post?

  2. #2
    Join Date
    May 2012
    Posts
    1

    Re: Two Canadians in Dubai Loan Proposal

    Hi Tarek, I'm a Toronto lawyer acting for a company who is in the same situation. I know of seven other companies with the same experience. If it's not too much to ask, please call me at (905) 882-3143 or email me at riaz@ahmedlaw.ca.

  3. #3
    Join Date
    Jul 2006
    Posts
    7,767

    Re: Two Canadians in Dubai Loan Proposal

    oh, sorry, that is the classic advance fee loan fraud.

    in a real loan, fees are deducted from the proceeds.

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