INVESTORS ALLIANCE ASSOCIATION LLC - MR. VIRGIL G. SMOCK VIOLATION OF THE CONTRACT AS SPECIFIED IN THE CORPORATE INVOICE Riverton Utah
I applied for a Standby Letter of Credit ( SBLC ) to be issued by Hongkong Shanghai Banking Corporation ( HSBC ) London UK valued at Six Million United States Dollar ( $6Million ) through the facilities of Mr. Virgil G. Smock , Managing Director of Investors Alliance Association LLC ( IAA LLC ) that his company is Ready , Willing and Able to arrange and provide for the issuance of the SBLC that can be delivered by S.W.I.F.T. MT760.
The Invoice Price of the SBLC is 25% of the Face Value and the upfront payment
is 10% of the Face Value ( $5Million X 10% = $600,000.00 ) plus management fee
of $15,000.00 and the balance of the 15% will be paid on or before the 30 day period once the SWIFT MT760 received by our bank.
IAA LLC issued a Corporate Invoice for the amount of $600,000.00 + $15,000.00
and we remitted the $615,000.00 to this account below,
Bank Name: CHASE BANK
Routing Number: 124001545
Account Number: 710639030
Account Name: Investors Alliance Association LLC
After more than one month of waiting no SWIFT MT760 we receive but instead he provided us a Euroclear Screen Shot of SBLC which was rejected by our bank.
Our repeated demand for SWIFT MT760 delivery never did come to our bank and damage our Loan arrangement for our project.
In this connection, I only demand for the return of the money $615,000.00 for
violation of the contract as stipulated in the Invoice.
Due to my busy schedule I have no time to file a complaint in USA and may
visit USA early next year to file a criminal complaint against this company.
This statement is issued under penalty of perjury of the Laws of the United States of America.
I need an immediate resolution of this case and to warn other applicant to be highly cautious when applying to this company.
My Thanks and Best Regards
Winifredo
Valenzuela City
Philippines
4 Updates & Rebuttals
Winifredo m jicaine
Valenzuela City,Asia,
Philippines
Breach of Contract
#5Author of original report
Fri, March 05, 2010
I am the principal party of the Contract and stipulated in the contract that the SBLC will be delivered via SWIFT MT760 but instead Virgil G Smock post the SBLC in Euroclear. I made a repeated demand to deliver the instrument via SWIFT MT760 but refuse to do up to this time.
I can provide the original signed contract to any police agencies or whatever if requested.
With regards to 15% amount I have no knowledge about the amount.
Very suspicious as the signatory of the SBLC is John Bond who already resigned two years ago in HSBC. I can also provide the SBLC copy if necessary.
You can google the name of Virgil G. Smock and you know what kind of personality he has and with cases in Utah, USA.
Warning to all applicant just be careful. He keep changing his websites.
Investors Alliance Association Inc
Scottsdale,Arizona,
U.S.A.
The Truth and Reality
#5REBUTTAL Owner of company
Mon, March 30, 2009
I am Virgil G. Smock, Director of Finance for IAA LLC. The statements provided my this individual are half truths and mostly false enuendos. First, the person who is making the claim against my company is
1) Not the client on the deal
2) Is currently under investigation for stealing the clients money and not forwarding it to our company to pay the balance of what was owed (15%)
3) Tried to steal the banking instrument via the Euroclear system only to be thwarted by HSBC's fraud department
The instrument can be viewed on our website www.sblcinvestments.com then click on CREDIT ENHANCEMENTS. You can view the SBLC by clicking on the tab to view the SBLC.
Our minimum instrument that we issue is 10 Million USD and I had to use my personal relationship with the banker to get this one issued at the 6 Million USD face issue.
Usuallly the balance of the funds needs to be submitted within 10 days of the client receiving the instrument. When the balance did not come in this person asked if the client could pay through a ICBPO (Irrevocable Corporate Bond Purchase Order) which we do not accept but we wanted just wanted to get paid and did not care where the funds came from. We never did get the ICBPO even though it was the person that filed the report that asked if we would.
The person who did file this report then went to an associate of mine in London and tried to sell "My SBLC" to the associate who called me and told me what this person was trying to sell the SBLC.
I have a contract that states that if the client fails to pay the balance of the SBLC the instrument reverts to me which it did. We kept the instrument until it matured then we cashed it in.
The client on this project was names LiveLife Technologies and that can also be viewed on the screen, and I can produce an affadavit from HSBC and from my associate who called me about this person whom this person tried to sell the SBLC to.
What I find to be strange is that this deal was done several years ago, and since then this person and I have even done another project for 200 Million USD.
So I am perplexed why this complain was even filed. Also, I find it wrong that there is no due process and anyone can say anything about anybody.
I have all of the contracts, and all of what I said can be verified with HSBC and others involved parties
Investors Alliance Association Inc
Scottsdale,Arizona,
U.S.A.
The Truth and Reality
#5REBUTTAL Owner of company
Mon, March 30, 2009
I am Virgil G. Smock, Director of Finance for IAA LLC. The statements provided my this individual are half truths and mostly false enuendos. First, the person who is making the claim against my company is
1) Not the client on the deal
2) Is currently under investigation for stealing the clients money and not forwarding it to our company to pay the balance of what was owed (15%)
3) Tried to steal the banking instrument via the Euroclear system only to be thwarted by HSBC's fraud department
The instrument can be viewed on our website www.sblcinvestments.com then click on CREDIT ENHANCEMENTS. You can view the SBLC by clicking on the tab to view the SBLC.
Our minimum instrument that we issue is 10 Million USD and I had to use my personal relationship with the banker to get this one issued at the 6 Million USD face issue.
Usuallly the balance of the funds needs to be submitted within 10 days of the client receiving the instrument. When the balance did not come in this person asked if the client could pay through a ICBPO (Irrevocable Corporate Bond Purchase Order) which we do not accept but we wanted just wanted to get paid and did not care where the funds came from. We never did get the ICBPO even though it was the person that filed the report that asked if we would.
The person who did file this report then went to an associate of mine in London and tried to sell "My SBLC" to the associate who called me and told me what this person was trying to sell the SBLC.
I have a contract that states that if the client fails to pay the balance of the SBLC the instrument reverts to me which it did. We kept the instrument until it matured then we cashed it in.
The client on this project was names LiveLife Technologies and that can also be viewed on the screen, and I can produce an affadavit from HSBC and from my associate who called me about this person whom this person tried to sell the SBLC to.
What I find to be strange is that this deal was done several years ago, and since then this person and I have even done another project for 200 Million USD.
So I am perplexed why this complain was even filed. Also, I find it wrong that there is no due process and anyone can say anything about anybody.
I have all of the contracts, and all of what I said can be verified with HSBC and others involved parties
Investors Alliance Association Inc
Scottsdale,Arizona,
U.S.A.
The Truth and Reality
#5REBUTTAL Owner of company
Mon, March 30, 2009
I am Virgil G. Smock, Director of Finance for IAA LLC. The statements provided my this individual are half truths and mostly false enuendos. First, the person who is making the claim against my company is
1) Not the client on the deal
2) Is currently under investigation for stealing the clients money and not forwarding it to our company to pay the balance of what was owed (15%)
3) Tried to steal the banking instrument via the Euroclear system only to be thwarted by HSBC's fraud department
The instrument can be viewed on our website www.sblcinvestments.com then click on CREDIT ENHANCEMENTS. You can view the SBLC by clicking on the tab to view the SBLC.
Our minimum instrument that we issue is 10 Million USD and I had to use my personal relationship with the banker to get this one issued at the 6 Million USD face issue.
Usuallly the balance of the funds needs to be submitted within 10 days of the client receiving the instrument. When the balance did not come in this person asked if the client could pay through a ICBPO (Irrevocable Corporate Bond Purchase Order) which we do not accept but we wanted just wanted to get paid and did not care where the funds came from. We never did get the ICBPO even though it was the person that filed the report that asked if we would.
The person who did file this report then went to an associate of mine in London and tried to sell "My SBLC" to the associate who called me and told me what this person was trying to sell the SBLC.
I have a contract that states that if the client fails to pay the balance of the SBLC the instrument reverts to me which it did. We kept the instrument until it matured then we cashed it in.
The client on this project was names LiveLife Technologies and that can also be viewed on the screen, and I can produce an affadavit from HSBC and from my associate who called me about this person whom this person tried to sell the SBLC to.
What I find to be strange is that this deal was done several years ago, and since then this person and I have even done another project for 200 Million USD.
So I am perplexed why this complain was even filed. Also, I find it wrong that there is no due process and anyone can say anything about anybody.
I have all of the contracts, and all of what I said can be verified with HSBC and others involved parties