I have recently been drawn into a sophisticated crime ring based in Spain and Switzerland called Insight Network that promises to match business startups with investors. I was one of those start ups. I believe my business was sourced from a Kickstarter event I initiated a year ago.
The created a Private Placement Memorandum (PPM) seeking $500,000 on behalf of my company. They found a German investor. What is unusual about their strategy is that after taking a few months to bring forth the potential German investor, Insight Network laments that the investor wants their investment money going into a European corporation for better tax incentives. Insight network, of course, has the solution. Director Don Keiser says they can set up my business as a European corporation where the funds can be deposited and later withdrawn by my USA entity.
They established a corporation for Top Rated Products World Wide Ltd recorded in the UK. I send $3,300 in funds to buy shares in the corporation and establish a bank account. Mind you, this was after having prepared a PPM (private placement memorandum) on my behalf and setting up the Ltd.
At the point they were to send me details and access to my bank account is the point when their email accounts became "invalid" and the coordinator stopped communicating. No response to skype or international phone calls.
I am pretty sure the investment money went into the bank account established in the name of my corporation. Of course, I don't know where the account is nor do I have access to it.
I just completed online crime reports with the FBI and Interpol, however, don't expect to hear back from them. I am concerned about how many investors will be duped into putting money into the corporation that they set up on my behalf.
I am sure this wasn't the first incident like this. They were listed with www.fundacity.com/
http://www.fundacity.com/insight-network
However, since I complained to fundacity, Insight Network's listing was dropped.
Insight Network Reviews
I have recently been drawn into a sophisticated crime ring based in Spain and Switzerland called Insight Network that promises to match business startups with investors. I was one of those start ups. I believe my business was sourced from a Kickstarter event I initiated a year ago.
The created a Private Placement Memorandum (PPM) seeking $500,000 on behalf of my company. They found a German investor. What is unusual about their strategy is that after taking a few months to bring forth the potential German investor, Insight Network laments that the investor wants their investment money going into a European corporation for better tax incentives. Insight network, of course, has the solution. Director Don Keiser says they can set up my business as a European corporation where the funds can be deposited and later withdrawn by my USA entity.
They established a corporation for Top Rated Products World Wide Ltd recorded in the UK. I send $3,300 in funds to buy shares in the corporation and establish a bank account. Mind you, this was after having prepared a PPM (private placement memorandum) on my behalf and setting up the Ltd.
At the point they were to send me details and access to my bank account is the point when their email accounts became "invalid" and the coordinator stopped communicating. No response to skype or international phone calls.
I am pretty sure the investment money went into the bank account established in the name of my corporation. Of course, I don't know where the account is nor do I have access to it.
I just completed online crime reports with the FBI and Interpol, however, don't expect to hear back from them. I am concerned about how many investors will be duped into putting money into the corporation that they set up on my behalf.
I am sure this wasn't the first incident like this. They were listed with www.fundacity.com/
http://www.fundacity.com/insight-network
However, since I complained to fundacity, Insight Network's listing was dropped.