Update on Jamaluddin's Fake Bank Guarantees

We've received further information and evidence from Dostaan FZE regarding the BGs that Syed Jamaluddin has been emailing his 'clients'. He usually provides these after several months of delays, failures and lies, as evidence that he is financially capable and is 'doing something' with your money.

As mentioned earlier they are from an institution named 'RSI Bank PLC'.

Dostaan FZE has sent us the following information:

"Please have a look at the addresses for RSI Bank listed on the supposed 'Bank Guarantees' and on its website.

RSI Bank's registered address is in a relatively prestigious part of London. However, the address, '124 Baker Street', is not a bank or even an office. It is just a mailing box shared with dozens if not hundreds of other 'companies', some of whom are frauds.
Here are just a few examples:

Alert from the UK Financial Standards Authority regarding a firm registered at 124 Baker Street, London

Complaints regarding a scam operation registered at 124 Baker Street, London

Lottery Fraud registered at 124 Baker Street, London

419 Scam registered at 124 Baker Street, London

So next we turned to the 'Business Place Address' of RSI Bank PLC, which is in a much less glamorous part of London - Turnpike Lane.

We tried calling the phone number on the Bank Guarantee but nobody would answer. So we went there in person. What we found at 1 Turnpike Lane, Suite #9, Chris Aria House, was an office occupied by a travel/holiday agent 'Frontline Travel and Tours'. 

When I asked the travel agent about 'RSI Bank PLC' he was aware of it, but said it had no desks or office here. He instead give me the number of someone called 'Sikander', who he said would come round from time to time.

I called this 'Sikander'. He was not interested in talking about Jamaluddin, not interested in the Bank Guarantees for 10 MILLION EUROS printed with his 'bank's' name and he eventually hung up the phone on me when I asked to meet him in person. What he did say, before he hung up the phone, was that he hadn't spoken to Jamaluddin for THREE MONTHS.

His number is +44 7904 273711, please feel free to call him yourself.

In summary, 'RSI Bank' claims to be registered and operate from the UK, but it does not exist in any meaningful form in the UK, has no offices or representatives, and seems like an operation which exists online only. The dodgy bank guarantees are just another part of Jamaluddin's elaborate scam operation to swallow advance fees and provide people the illusion that he is doing something on their behalf, until they get bored and give up and walk away. He has proven through his actions over a period of several years and with many victims that he is incapable and impotent when it comes to any genuine financial transactions.


I have sent you the video that we took inside the supposed offices of RSI Bank PLC. Please feel free to disseminate this further afield and publish it on your website."

EDIT: Please note, since the time of writing this post, frontline travel and tours have moved office, and RSI bank will probably put another fake address for their offices at some point. If you have contacts in London, feel free to get them to check out the new address for RSI bank and you will probably find a taxi service, tour operator, or drug dealer in the location.

Testimony from Jamaluddin's Fraud Victims

Have a look at the emails below, which are a small selection of the growing numbers of firms that are coming forward who've been defrauded by Jamaluddin. You will see a pattern emerging. Some Email addresses have been censored to protect the firms involved, but the company names are included so you may look them up and contact them yourself.

We have yet to find a single example where a 'transaction' that involves Jamaluddin has been successful (well, they have been successful for him as he's swallowed the advance fees). The very nature of what he is offering is a transparent fraud - how can he possibly discount a cheque and provide finance based on just your corporate cheque and no collateral? It is evident from all we have seen that Jamaluddin has NEVER MONETIZED anything in his life. He is unable to provide any evidence to show that he has, despite all his grand claims.

-----

Goldrock Global Trade (Singapore)
"We are a company based in Singapore in the name of GOLDROCK GLOBAL TRADE PTE LTD. Here is our story of being cheated by Syed Jamaluddin of Argo International Gmbh, Germany. We first received a marketing email from him dt- March 18, 2013. Then, someone called Rene Forbi talked to us as representative of Jamaluddin Syed. He introduced him to us directly. Jamal claimed that he has a provider capable of issuing SBLC from top bank of UK for USD 5 million in our bank acceptable format, on receipt of MT199 for his lease fee. That he can arrange the required message MT 199 from his firm ARGO International GmbH, on receipt of USD 15000 as MT199 issuing charges and within 2-3 days of the receipt of the funds the SBLC will be sent to our account. Thus, the contract was signed accordingly and the funds was remitted on 29-05-2013. Once, the funds was transferred he began showing his true colours.

He wasted more than 6 months, everyday telling new stories of issuance of SBLC. After, the contract was signed to issue the instrument from a Prime Bank within 2-3 days of the receipt of funds at his counter and the funds was sent to him with all documentary compliance he said after 2 weeks the instrument was already issued via KTT, which was obsolete long back. Then after a week he said us that the instrument will be issued shortly, and he again killed 3 months with new stories everyday saying the issuer is in contact with the bank. Then, finally the matter was dropped, as he accepted that he was not in a position to perform the contract and we started demanding the refund ever since. He again came up with another option saying that he will issue RSI SBLC of 25mil USD, within a day of your confirmation and will monetise the same, and we have to act only as custodian of SBLC. After confirmation of the same instantly, he passed another 2 months and asked us to meet some provider in Chennai, India. Finally, after meeting them they were again not in a position to perform because of their own issues. Also, the RSI bank instrument is not worth in rags. Finally, he again tried to give another option of Hard copy from RSI SBLC, which we were clearly, not interested in and closed any pending issues on 25 October, 2013 and he agreed to refund the funds within a week, which he again passed  3 months telling stories everyday and till date we have received a refund of USD 1310 only which he sent on 06 Dec, 2013 after repeated followup. 

Since, we had demanded refund he is only trying to find an excuse to cheat our funds and find a fault with us, which he has been unsuccessful. Finally, we got tired of following him up as it is a waste of time to do so. He is not in the intention to refund a single penny, instead he is threatening us to show court. It has also come to our knowledge that we are not the only one who has suffered and lured in his Ponzi schemes. There are a number of other people whom he has cheated. His modus operandi is similar in all transaction and is a clear case of advance fee fraud. He is a Professional Scammer, International Conmen, and a Petty thief.  We also came to know that he does not hold any valid license from the FSA of Germany. 

We have all the documentary evidence and written communication to support our story which can be sent upon demand. We are ready to cooperate in any manner which is required for remedial actions. This type of people are a menace to the society which hampers the international business environment from Germany’s perspective. He should be bought to justice to restore the faith of people in international business transactions. We must unite together to fight against this cheat who believes there is no one to bell him and not allow him to escape with our hard earned money."

-----

Mirage International (India)
"He has taken USD 35 K in Cash from me and is also holding Two Corporate Cheques worth USD 10 M & USD 2 M respectively in Indian Rupees( Copies of which are included in this SCFA Contract).

The Original Hard Copies of the Cheques and SCFA Contract were signed and returned to Jamaluddin on the 26th of August, 2013.The USD 35 K Payment reached his Account with Volksbank, Germany, by the 3 / 4th of September, which details also, I am sending you vide the next mail.

As per the understanding between him and me as well as the Terms mentioned in the SCFA, M/s Argo Intl, was supposed to SOURCE A 100M SBLC, PUT THAT FOR TRADE THROUGH THEIR CONNECTIONS WITH TRADERS / TRADE PLATFORMS AND GIVE ME A PART OF THE TRADE PROCEEDS FOR A 40 WEEK PERIOD, ON A WEEKLY BASIS, AFTER ADJUSTMENT OF THE LEASE COST OF THE SBLC, COMMISSIONS, SERVICE & MANAGEMENT CHARGES FOR ARGO INTL. AND MISC EXPENSES IN THIS REGARD.

The Time Frame mentioned and also mutually agreed for this initial Process and for the First Payout to be released to me, was a Max of 35 Days, from the Date of receipt of the USD 35 K Funds in Syed's Company Account.

The only thing what he has done, that too through the pressure exerted by me, was to provide me a copy of a PURPORTED BG FOR EURO 10 M FROM RSI BANK PLC, LONDON, IN FAVOUR OF MY COMPANY MIRAGE INTL. This BG for all purposes SEEMS FAKE / FORGED and the CREDIBILITY AND GENUINENESS OF THE COMPANY, RSI BANK PLC, is also in serious doubt.

As you are completely aware now, Syed Jamaluddin, has neither delivered on any of his promises rendered till date, nor his commitments towards his Contractual Obligations!

He has been lying to me, putting forth numerous stories and excuses to prolong the core issue and withhold payments to me, which, he should have done as a matter of routine.

He has also not returned either the Advance of USD 35 K and the Two Corporate Cheques taken from me for this supposed Transaction as a gesture of goodwill and decency."

 

-----

Dostaan FZE (UAE)
"In brief he has taken $20,000 USD from us in 'up front fees' in order to 'facilitate' the discounting of our corporate cheque, which is to the value of 3.4million USD. Over the past six months he has made various excuses for failing to do so. When we have queried him or demanded truthful answers regarding his activities and repeated failures to fulfill his obligations, he has reacted aggressively, abusively and even made derogatory remarks against our religion and ethnicity.

On one occasion he has said the funds are available and has claimed to have sent them to our corporate bank account in UAE, but of course this was nonsense. He also tried to get us involved in what appears to be a suspicious 'server to server' bank transfer, which as far as I am aware is something only for internal banking management, and is otherwise known as a means of money laundering. He then demanded we sign a document providing him with power of attorney for a period of three months, and again assured us of the success of the transaction if we co-operate with his demands, which we did fully and at every stage. We have the email exchanges of all of this.

When all of his excuses were saturated, he then provided us with a copy of a Bank Guarantee from 'RSI Bank PLC' in London in our name, to the value of 10 million Euros.We have sent someone to physically go and check the address of this so called banking institution, and it does not exist. Our friend has taken a video of the offices where it claims to be located, and there is only a travel agent there. Our emails to the bank have resulted in no response, and instead our emails to the 'bank' have somehow ended up with Jamaluddin who has responded to us angrily for making inquiries.

In summary:
- He misappropriated the funds sent to him by us to issue MT199 for our Corporate Cheque.

- Our Corporate Cheque is still with him, despite demands from us to return it.

- He has told us our cheque has been discounted but has never provided us with any proceeds.
- He is holding a BG in the name of Dostaan FZE issued by RSI BANK based in UK again, but refuses to provide us with it, and the BG itself looks suspicious and fraudulent.

As per his own contract, if he is unable to provide the discounting service within 21 working days, the transaction is a failure. It has now been approximately six months, and yet he has refused to return our fees or our corporate cheque. We have suffered major financial losses as a result of his prolonged delays and failures to meet his obligations.

I have attached a copy of the contract he made us sign (mou.zip), and below is a copy of the confirmation email from our corporate bank manager regarding the original transfer of funds to Jamaluddin.

It is my personal belief that this is nothing more than an advance fee fraud. Given the repetitive nature of his activity, and the many firms we have now come into contact with who have suffered the same experience at his hands, I believe Jamaluddin has never successfully discounted any cheque or provided any genuine financial service, nor does he have the ability or intention to do so."

-----

> From: Wilfred Quiah <efefinance@gmail.com>
> Date: Sun, 12 Aug 2012 19:37:22 +0800
> Subject: CHQ of 10 Million.
> To: Pranab Biswas <pranabnz@gmail.com>
> Cc: nabiullah786@dhaka.net, nabi_ullah@yahoo.com, "Md. Nasim Uddin"
> <lia_associates@yahoo.com>, robertbvekich@msn.com, Humayun Kabir
> <bdkabirh77@gmail.com>
>
> Dear Mr. Pranab Biswas,
>
> Good day.
>
> Referring to all the communications we have had regarding the subject
> matter via Emails,telephone calls etc.; I would like to bring to your
> notice the following:
>
> EFE (S.E.A.) Pte Ltd., Singapore is project consultant of Green Bangla
> Communications Limited and representing a few finance companies in the
> world including
> Master Dynasty Limited of Hong Kong. You have approached us to provide Bank
> Guarantee to the tune of US$ 10 Million against 10+2% charges which is 10%
> for Bank Guarantee issuance charges and 2% commission for the provider and
> yourself.
>
> We, according to your advise have signed compliance documents and as per
> the procedure have Deposited a cheque of US$ 10 Million ( United States
> Dollars Ten Million) and send to Agro International GmbH., Germany to the
> attention of Mr. Jamaluddin Syed. The cheque has been issued
> to M/S. PLAM SQUIRE INTERNATIONAL SRL., (Romania) as per advise of you /
> Jamaluddin Syed/
>
> You have advised us that upon receipt of the compliance documents along
> with the cheque of US$ 10 Million as security, your associate will SWIFT
> the BG to GREEN BANGLA COMMUNICATIONS LTD., nominated beneficiary and to
> their bank coordinates.
>
> GREEN BANGLA COMMUNICATION LTD., is having agreement with MASTER DYNSATY
> LIMITED for funding its project. GBCL is having relation with MDL, there
> is no relation between Mr. Jamaluddin Syed company and MDL. GBCL has
> completed all the formalities of what AGRO INTERNATIONAL INC / GMBH wanted.
>
> The BG has not been sent and as such the contract has been automatically
> become null and void. There is no need of discussing about it further.
>
> However, while reading the copy of the compliance document it is found
> that the Signature from Agro International is cut and paste while GBCL is
> properly done. The cheque has been notarized and given. The BG was suppose
> to be given by Agro International and your associate has asked for the
> cheque to be in the name of Palm Squire International - Romania. We have
> thought that in business it does happen.
>
> Now, talking to you and scrutinizing the email communications, it is
> evident that we have been hoodwinked by you / associate just to get
> the Cheque of US$ 10 Million from us. We are sure that the cheque has been
> misused and as such you / associate have committed a crime. We request you
> to return the cheque by next 7 days to Green Bangla Communication Limited.
> It has to be returned by secured courier services as it was sent.
>
> We, with this letter put you on notice that, should we don't receive the
> cheque, will result us contacting authorities in Germany, Romania,
> Bangladesh and the USA for investigation and also will involve
> other authorities that we think appropriate. We do reserve the right of
> lodging claim for financial damage upon ascertain how much loss has been
> incurred.
>
> Pleased to hear.
> Best regards.
>
> Wilfred Quiah MBA, Ph.D.
> Managing Director,
> EFE (S.E.A)Pte Ltd.,
> Singapore.
> Tel: 65 - 62422237

Jamaluddin - The Confidence Trickster

Have a look at and compare the two videos below to see how Jamaluddin makes a mockery of himself. In his attempt to get some sort of acceptance he tries to put on a fake American (Texas?) accent in one video. The content is pretty crap too - he knows nothing about the subject of Kosovo other than what he's seen on the TV, and doesn't even know the demonym for the people of the region - they are Kosovans or Kosovars, not Kosoveeans which he just invents. Makes for hilarious viewing.

This is pretty pathetic behavior from someone who describes himself as a 'noted political expert', which he evidently isn't. 

Here he is in another video, again 'interviewed' by the same woman and filmed on a home movie camera (in the toilet?). This time his accent has disappeared. He's still talking garbage though, and providing hollow discourse littered with cliches, void of substance and full of made up facts (other than the ones he's seen on the TV):

UPDATE:
As people have started coming to the conclusion that they've been swindled, having waited for many months for the conclusion of their 'transactions', which never materialised, they've started commenting on his blog. Jamaluddin, in his typical manner, says one thing and does another. The man literally lies whenever his lips, or his fingers, move.

Take a look at this screenshot of his blog. On the one hand he writes 'I AM NOT DELETING NEGATIVE COMMENTS IN INTEREST OF BEING TRANSPARENT', just after having deleted negative comments which outlined his modus operandi. The other comments that remain do not contain any seriously damaging or relevant information.

List of Jamaluddin's fraud victims

Here are the firms who have been defrauded of funds by Jamaluddin that we know of so far:
Erdem Plastik (Turkey)
Mirage International (India)
Dostaan FZE (UAE)
TMC Ltd (UAE)
Goldrock Global Trade PTE (Singapore)
Kings Highway Nigeria Ltd (Nigeria)
AB Investments (Ukraine)
EFE (S.E.A) Pte Ltd. (Singapore)

Each has paid between 15-35 thousand USD up front for Jamaluddin to discount their corporate cheque(s) (a classic fraud scheme). None have received anything in return, except from excuses, failed commitments, and abuse from Jamalauddin over a period of many months.

We will upload emails from all these firms explaining how Jamaluddin has scammed them one by one.

Note that Jamaluddin avoids doing 'business' (defrauding) with German firms, as he knows the police will be on his back within days. He tends to go for firms based outside the EU, from where it will be difficult and costly to prosecute him.

Worthless Bank Guarantees

If you push him and start demanding some proof that he's doing something, having taken your money up front, then he might provide you, after several months of lies and excuses, with a bank guarantee like the ones below. He gave these to three of his victims, based in the UAE and India. Several others received similar scanned images like these from him.

Please be aware that this 'RSI Bank PLC' doesn't actually exist. Its 'Baker Street' address in London is just a mailbox, and its 'office address' in Turnpike Lane in London simply isn't there. It seems to be another fraudulent operation, like Jamaluddin. After all, thieves work together. If you email the bank, the emails will either bounce back, or the ones that do go through will magically be forwarded to Jamaluddin, who will provide an angry response to you for querying the legitimacy of the bank below.

Ultimately, all of this is a ploy to keep you hanging on for your 'funds', which will never materialise. The plan is to make you give up and forget about the fee you paid him, or at least just accept it as a loss, so he can move on and scam someone else. The value of the money that he demands up front - usually between 15 to 35 thousand USD - is chosen because it is large enough for a worthless loser like him to make a living from, but is too small for firms to spend another 10-20 thousand USD chasing him in the German courts. He's been conducting this scam since at least 2009, from what we've seen, and has managed to evade the consequences so far.

There is no evidence that Jamaluddin has ever monetized anything in his life, but there are MANY firms around the world who've lost significant sums of money.