Jean Claude Clency Maghoo - Non Performer - Potential Fraud Non-Performer Who Provides Fraudulent Bank Documents MANILVA
Mr. Maghoo presented himself as a serious investor wishing to provide a bank instrument - SBLC or MTN - as collateral for monetization and trade. His bank was UBS and he claimed to be the sole signatory for the account with over 3B.
The first SWIFT that was issued was an RWA and it was fraudulent. A certified copy was provided with bank officers names that could not have possibly signed the copy. A second SWIFT was supposedly sent and a copy provided that again had signed of fraud.
At this point it was necessary to abondon the monetizing bank and it was agreed to send an MT542 MTN to another monetizer. The SWIFT didn't arrive for several weeks and finally when it arrived we could not get the banker at UBS to verify the SWIFT.
Mr. Maghoo claimed the banker at UBS was not cooperating. But he also alternated to blaming the receiving banker and the platform for not receiving it.
We then setup to deliver the MTN via Euroclear to a monetizer via Free Delivery but the sending bank, again UBS, never provided the account statement and free delivery receipt. This shut down the last monetization attempt and the trade agreement.
After 3+ months Mr. Maghoo had tried several other assets that were apparently 3rd party - not another word about "his" account at UBS, and finally he went completely silent.
It is possible to say that Mr. Maghoo had no knowledge of the making of the fraudulent documents, however, taken in tandem with the failure to deliver SWIFTs repeatedly, we would have to believe that he had a corrupt banker at UBS and didn't know it. That seems far-fetched but even if true Mr. Maghoo is definitely a time-waster and non-performer.