Monday, 22 March 2010

Breaking news - First Morgan Capital

We received an email from a businessman in Francistown who had applied for venture capital from a company calling itself First Morgan Capital Group.  They offered him US$ 323,600 (over P2 million) as a loan. However he became suspicious when they demanded he pay 7% of the loan amount as a security deposit to a bank account in Singapore.

The web site for First Morgan Capital Group looks impressive but there are clues if you look carefully. They give an address in Zurich in Switzerland that doesn't actually exist. Their phone numbers in both Switzerland and Peru either don't work or are answered by automated machines that also don't work properly.

Then there's the suspicious nature fo the whole idea they present. Why would a venture capital invest large sums of money in a company they'd never actually met?

Finally, the web site appears on a list of sites used by "advance fee" scammers. Is that enough evidence?

It's a scam.

1 comment:

Anonymous said...

First Morgan Capital Group or First Morgan Financier is a scam company. I am victim of their scam and it has left me in a mess, because I had to borrow that money to send to them after I believed that the loan amount would have been wired into my account and only to discover that the Officer Kenneth Jones just disappear into thin air and no response from the phone number of email. This Kenneth Jones guy is a thief and person should be aware of him. I though this was a genuine deal because I spoke with him on the phone and he did not sound like the Nigerian type guy.

Please be aware of this company. I am still in shock as to what happen to me, I am left in a mind and not able to pay my bills because of this, it has sent me into bankruptcy.