#1 - Introducers
During the Trial in UK and when we report this fraud case in the Police station in Singapore, we were always asked about the introducers.
Thus, in the first chapter of our story on BIL, we will share the details on how we were introduced to Barley Investments Ltd (BIL) or the newly named company Barclays (Barley) Ltd.
1.1 Introducer – Charles Krauser (CK)
An honest Agent but failed to conduct sufficient due diligence on Provider and Mandate.
We came across to one of the monthly programs Charles Krauser in mid-2015. Charles acted as an agent for suppliers (bank instruments’ providers, monetizers and lenders).
In Sep-2015, we participated to an investment program that requires payment of refundable retainer fee of US$100K to participate. Within two months after sending funds to the US bank nominated by the Program Manager, we received the full amount inclusive of the bank fee charges. The experience increased our trust in Charles’ programs.
In Jan-2016, we spotted a new program, “#85-Low Cost Bank Instrument Lease Program” from Charles’ email. An extract of the email is shown on the right.
On behalf of a client, we submitted our application for an SBLC from HSBC.
Charles forward our application to the Provider’s mandate, Mr. Kumar Sonik, the next day.
We have checked with Charles, and he confirmed that he would receive his commission as stated in one of the documents we submitted to him.
We consulted him when the Provider requested for additional payment. He tried to contact the mandate who refused and maintained that the Provider was genuine.
Unlike the mandate, Charles remained contactable and replied to our request to support the litigation matter against BIL.
In one of our submissions, we acknowledged the payment of commissions to Charles Krauser, which will be paid by the Provider upon successful transaction.
All the document templates, contracts, and conversations via email and skype are compiled under the sub-folder of CharlesKrauser within the “EFE_Source_Documents” in our Cloud Server. (To access, please register your interest with us.)
1.2 – Ravinder Kumar Soni (KS)
A big liar and definitely an accomplice with fraudulent Provider.
Kumar Soni responded promptly to our submission forwarded by Charles and identified himself as the Mandate of the Provider, Barclays (Barley) Ltd (BIL).
Within the next working day, we were very “pleased” to receive email from BIL from email address “firstname.lastname@example.org” along with the countersigned contact. We immediately conduct due diligence on the documents received, which we will share the results in the next chapter (2).
When we paid the fee of US$35k (US$35,000.00) and BIL representative started to gave reason for additional payment, we understood that this Provider was likely another fraud. When the representative stopped replying to our calls, we contact Kumar.
While he remained contactable, and answered our questions via Skype (Skype ID: soniklease1), he gave many different excuses for BIL and the representative. He claimed that he regularly met with “Mr. Carl”, the registered director of BIL, and promised he would have our fees refunded to us.
1.2.1 KS – A Professional Cheat
Kumar used many, many excuses and dragged us for close to one year. In the mid of our conversation, he tried to introduce other providers.
We did a quick check, and found that all the “Providers” he introduced were all Barclays’ subsidiaries, similar to Barclays (Barley) Ltd.
The Provider he introduced was Hawkins Fundings Ltd, which he claimed was a genuine Provider. However, when we do a quick check on the company from the Company House, we noticed that the directors and shareholders were similar to Barley’s and is also registered in the same address.
To date, all these companies are still active, and they are categorized as Special Purpose Vehicles of Barclays Banks. These companies are registered at the same address as Barclays Bank Ltd in UK.
We cannot help but suspect that there are insiders within Barclays who are using these companies to cheat SMEs like us.
When we try to challenge them in legal, Barclays Bank immediately block us and even have the legal system within UK to block us to receive justice.