Complaint Review: Tianjin Baiguan Import & Export Co. Ltd

We deal with this company who specializes in Flat Rolled Steel

They offered us Prepainted Steel Coils (In Secondary Quality) in 820 usd cnf Karachi.  Quantity was around 350 MT. Payment Terms were 60,000 USD by Wire Transfer and rest by Letter of Credit)

We send our person there he check their office (which was in residential building) and then he take my friend to factory where he shows the material that he said he will export once TT will come to his bank account followed by LC

We send him 60,000 USD after checking bank credit report and etc. & thats where trouble starts

After we sent him money he said material has been sold out and he will look into the matters to send back the money but because of chinese strict regulation it will take time.

Because of ramadan we wasn't able to do much but we were constantly trying to push him to send us back quickly.

After 2 months and we were tired of his excuses we send person there. & he brought the shocking news to us that he spent all the money and now he didn't have any money. We were shocked of this outrageous revelation.


Our friend make an agreement after he agree to pay 17000 USD now and rest in 1-3 weeks time.

After we receive 17000 USD we wait for a week but then he run away from building

Its a massive loss of 43000 USD and we are still trying to chase him but I want to warn others please do not work with this company its completely fraud. They are organized they will make us show that they are genuine company. They are nothing but fraud.