A Seemingly Legitimate Fraud? – asiasentinel.com, January 14, 2011
…Everything appears legitimate here with all legally signed documents in place – except that you will never get your money and you will never need to deliver your goods. They are not interested in your products, all they want is your signature and stamp on the contract.
The buyers can even use these contracts as collaterals to tap credit arrangements from the banks.
…What the Chinese company gets out of it is a bill of lading or other documents showing it has transacted a, say, US$2 million deal despite the fact that no transaction has taken place. That gives the nonexistent or temporary company legitimacy. It can then use that legitimacy any way it chooses with the Chinese authorities…
- Remembering Black May 1992
- All About Royal Ploughing Day
- Four Years Ago: Another Coup in Thailand
- 2012: Thaksin Reverses Earlier Calls for Reds to Forgive & Forget with Fiery Speech
- The rich man is not full yet
- RIP “Rong” Narong Prapasanobol, cartoonist
- Is it right for Thais?
- Move to the Jurassic era
- Political vacuum cleaners
- Weekly News Magazine: Getting Ready for the Political Future, April, 2018
- Fertilizing the junta party with crap of the past