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    Join Date
    Sep 2012
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    3

    DAVIDE ANGELO MONFREDA, the non-performer

    Davide Angelo Monfreda, the non-performer
    Bob Klutts, partner of the non-performer
    It was January 19th when I received the LOI from my client willing to lease a 500M BG.
    Bob Klutts chased me during one year or maybe more, trying to convince me he had the real provider to lease from.
    I cannot regret more the day I heard him.

    The contract was signed on January 27th, with code: DAM/RUX/01/01/12/GE
    The day after, Mr. Monfreda issued the Invoice:
    For services to be performed in accordance with terms and conditions as mutually
    agreed upon, as well as to pay for costs, fees and expenses to be incurred
    relating to the issuance and delivery of an unconditional and unrestricted credit
    facility to a bank designated by you, in accordance with the international rules
    and regulations pertaining such banking practice.
    Agreed-upon fee: 300,000.00 (three hundred thousand Euros)
    Terms: Net upon receipt of invoice.
    To be wired to: Bank Name: General Equity Building Society to his personal account.
    Payment was made on February 2nd.

    The transaction included monetization of the leased instrument and provider’s commitment to assist my client opening a bank account to wire the funds in.
    The process and a lot of work to prepare the whole set of documents plus application was made to be sent to provider’s bank where the Invoice was paid. It was a large process, THE APPLICATION WAS SENT February 29th and it took a lot of time to get the account finally opened. After more than one month, client was asked to wire 50k to activate his account on March 15th. The 50k were confirmed as credited in the account March 19th.

    However, it was useless because the funding proposal made for the bank on April it was not good at all and had nothing to do with the initial proposal and contract signed. Therefore, Mr. Monfreda didn’t perform the contract and after 2 months we had no deal.

    But this is a long story. Client was asked to get his own bank to get the funds in. Client was introduced to another guy -I will reserve his name- (I’ve never met anyone as arrogant as this guy) and again, after days and days nothing happened. Every single step needed a week or two to finally end on the same point, the starting point.

    Of course, the client sent banking coordinates to get the funding but Mr. Davide Angelo Monfreda, with Italian Passport N G355140, was always giving an excuse along with his muppet Bob Klutts to explain the delay, to explain how sensitive the business was and after a bunch of promises, the result was always the same, NOTHING HAPPENED.

    Last September, my client got tired of this unprofessionalism and decided to give up and asked the funds back. Another nightmare has begun. Today we are still waiting for the funds to be returned. It seems that Bob Klutts is missed, dissapeared. Monfreda is always in hospital.
    The intention of this is to avoid you the same awkward situation when people makes money with someone else’s money and yet we are not sure if he will reimburse my client.
    10 months later, I can tell you stay away of Bob Klutts and Davide Monfreda.
    Last edited by A.Q.; 11-20-2012 at 04:38 AM.

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