Complaint Review: Timothy Vogl

 This alleged scam was not a scam at all but the restrictive manipulation of the Chinese banking system by the Chinese government. There were numerous attempts by the Chinese private equity group (Choi Seng) to wire funds out of China to the US, Canada and Mexico, but each time the Bank of China intervened and stopped the wires from being sent. This went on for several attempts from different locations throughout China, but to no avail. Other companies around the world were having the same difficulty in getting funds wired out of China and for the same reason. As part of the funding contract with Choi Seng, there was an agreement between my clients and Choi Seng to share in the legal costs as well as the construction bonding (insurance) costs. These funds were wired directly by each client. AT NO TIME was I paid any portion of these funds. The only compensation I received was as a contract CFO, and only for a few of the clients. Any commission I was to receive was to be paid directly from Choi Seng, but only upon funding, which never happened. I dedicated five years of my life to a funding program that was never realized. I personally contacted the FBI regarding the matter, one client contacted Interpol, and several of my clients contacted senior vice presidents of large global investment banks to investigate Choi Seng. All of them came to the same conclusion: that Choi Seng was a legitimate private equity company, and it was the Chinese government that was the culprit in preventing investment funds from leaving China. All of my clients, including myself, lost time and money on this venture.