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Monday, 6 March 2017

Global InterGold's frozen bank accounts - updated 12 June 2017


Global InterGold lost its Bulgarian bank account in Raiffeisen Bank International AG 


The holder of the bank account was a shell company MD7 Trade Ltd. The bank account details were published in the middle of February so I would presume that the account was frozen within two weeks.

After losing the account it certainly didn't take long after Global InterGold published a new one, as the scam released today an announcement about new bank account details. However it's surprising that they stick to use Bulgarian banks. For the best of my knowledge this is already the third bank in Bulgaria for them, and what's even more puzzling the ponzi still uses the same shell company as the account holder.

Here are the new bank account details Global InterGold has provided to its victims:


UNITED BULGARIAN BANK
Bank recipient:
UNITED BULGARIAN BANK
Bank address:
5 St. Sofia str., Sofia 1040, Bulgaria
S.W.I.F.T.:
UBBSBGSF
Beneficiary:
MD7 TRADE LTD
Beneficiary’s address:
Sofia 1407, Lozenets area, No.103 James Bourchier blvd., 1st floor
Beneficiary’s account:
BG71UBBS80021450283810


The scam has also a bank account in Philippines where they use Philippine Bank of Communications. The shell company running the account is Value Gold and Precious Metal Inc. I suspect that regulators in Philippines will sooner or later freeze the account, rather sooner.



Update March 20, 2017:



United Bulgarian Bank account frozen?


I believe it's likely that the just recently announced bank account in United Bulgarian Bank has already been frozen. During the last weekend Global InterGold has added a new bank account to be used. Although the bank account for United Bulgarian Bank is still visible in the bank account details section in user accounts, it has been dropped under two other bank accounts that are most likely primarily used. They updated the bank account details section in similar way when Raiffeisen bank was about to be dropped.




Global InterGold still tries to use a bank in Bulgaria and they are even relying on the same shell company, MD7 Trade Ltd. The bank they have the account in is International Asset Bank. As the regulator is well aware of Global InterGold's presence in Bulgaria, I don't expect that bank account to last long.



Update March 27, 2017:



Global InterGold lost its Philippine bank account

Bulgarian Bank accounts still remain on their list


Philippine Bank of Communications has evidently frozen the bank account Global InterGold had there via its shell company. The scammers however stubbornly stick to their old tactics and have chosen another Philippine bank to run their ponzi business. They are even using the same shell company as before, Value Gold and Precious Metal Inc. The new bank is EastWest Bank.

Here are the bank account details provided by Global InterGold:

Bank recipient:EastWest Bank
Bank address:6795 AYALA AVENUE CORNER, V.A., RUFINO ST., SALCEDO VILL., MAKATI, Manila
S.W.I.F.T.:EWBCPHMM
Beneficiary:VALUE GOLD and PRECIOUS METAL INC.
Beneficiary’s address:Unit 3202-B Atlanta Centre Annapolis Greenhills San Juan City, Metro Manila, 1502, Philippines
Beneficiary’s account:200022813942

The Bulgarian bank accounts still remain on the company's list of available bank accounts. However, I suspect not for long.



Update May 18, 2017:



Global InterGold lost yet another Philippine bank account

Bulgarian Bank accounts still remain on their list


Global InterGold has just recently again changed its bank details in Philippines. Instead of the previous account in EastWest Bank the scam is now directing its money flow to Bank Philippine Islands. This is already the third bank they are trying their luck with in Philippines.


Here are the new bank account details provided by Global InterGold:


Bank recipient:BANK PHILIPPINE ISLANDS
Bank address:AYALA AVENUE, CORNER PASEO DE, MANILA
S.W.I.F.T.:BOPIPHMM
Beneficiary:VALUE GOLD and PRECIOUS METAL INC.
Beneficiary’s address:Unit 3202-B Atlanta Centre Annapolis Greenhills San Juan City, Metro Manila, 1502, Philippines
Beneficiary’s account:8731-0039-05
Global InterGold's continual problems with Philippine banks is likely due the familiarity of the scam to the local Securities and Exchange Commission:
http://www.sec.gov.ph/tag/emgoldex-philippines/
Therefore it's rather strange that the scammers stubbornly try to nest they money laundering there.



Update June 12, 2017:


Now the bank details of Bank Philippine Islands are gone. Instead there are bank account details of EastWest Bank, which are precisely the same as before 18th of May 2017. 

It is of course possible that Global InterGold managed to feed the bank with some misinformation, convincing that their shell company VALUE GOLD and PRECIOUS METAL INC. has nothing to do with the ponzi scam. 

In addition the Bulgarian bank accounts seem to be still available. If the accounts actually are active, I'm surprised that the banks have not taken any action yet.

What ever the case might be with those Bulgarian banks, according to my blog statistics Global InterGold related banking efforts seem to arouse attention of other banks not mentioned in this blog post.

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