PM Global Inc. : Share-damaged persons wanted !
A client of our firm concluded a consulting agreement with the company Helvetia in Düsseldorf to trade options on shares. The company Helvetia was recommended to him by a friend.
Helvetia charged high commissions at the purchasing stage. It was difficult to get into profit situations with the costs. He was offered the company Consultec AG (Frankfurt), as a new issue with high profit expectations. These were then also drawn. Soon an employee of PM GLOBAL INC. from New York. You were aware that our client had an account with Pershing. This employee allegedly got the data from our client from the American Securities and Exchange Commission, which released this data to various brokerage houses in order to bring more money to the American stock exchanges again.
Our client received a fax from the PM GLOBAL INC. employee, in which he was asked to note and confirm the access data in order to set up online access to his account.
In the next step came the speech on the IPO of the search engine Google. The Google share should only be subscribed to by Americans before the stock exchange opens, but this employee could obtain Google shares through another brokerage house, but only from US $
200.000. This could not be raised. Now an offer was made to him to divide a contingent between three investors.
The confirmation of purchase with guaranteed allocation in the amount offered came by fax. The money was paid to PG Global Inc. transferred. The purchase was completed. The client never received a confirmation of the receipt of money or the purchase of shares. The employee of PM GLOBAL INC. explained that the receipt of money was not confirmed. that the back office is overwhelmed.
Several attempts to reach the employee later failed. There was no more contact and all attempts to get a confirmation of receipt of money were without success. Now the insurance expert concerned is looking for other injured parties to exchange information.
by Dr. Johannes Fiala
with friendly permission of www.Experten.de
published on 28.07.2004
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About the author
Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
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