Scam Type
Foreign Money Exchange Scam
Business Name Used
B2B Foreign Transactions
Date Reported
April 05, 2024
Postal Code
T2X 0Z5
Total Dollars Lost
$ 0
Scam Description
Through JSS Green Trade, in collaboration with the Brazilian law firm JVN International Lawyers and a trading partner in Dubai, we engaged in attempts to facilitate the sale of substantial volumes of JET-A1 and EN590 10ppm. This endeavor commenced with the issuance of a Full Corporate Offer (FCO), followed by the signing of an Irrevocable Corporate Purchase Order (ICPO) by prospective clients, and culminated in the dispatch of a Commercial Invoice (CI) via JSS Green Trade. The documentation was provided in an editable Word format, proposing the transaction through Sana Refinery in Kazakhstan. However, the professionalism of the provided invoice was questionable, featuring homemade elements and digitally altered stamp images.
In an effort to resolve uncertainties and establish legitimacy regarding the connection to the petroleum products, discussions were conducted via telephone. During these conversations, assurances were given regarding the forthcoming provision of legally valid documentation, including the necessary sale authorization and a bill of lading. Regrettably, these promised documents were never delivered.
The silence that has followed from both the Brazilian attorneys and our trading partner in Dubai—who were entrusted with sourcing reputable sellers—compounds the gravity of this situation. Our business, which prides itself on integrity and maintaining real client connections, finds itself inadvertently associated with less scrupulous entities globally, from the USA to Hong Kong. This misalignment not only tarnishes our reputation but also misuses the legal standing of firms that represent significant Arab groups in the UAE, thereby undermining the foundation of trust upon which our operations rely. This breach of professional conduct and trust is not only disappointing but also damages the credibility and potential for future partnerships.
