FRAUD ALERT (July 2010) * WARNING GOLD &
DIAMOND BUYERS*
RE: DERRICK OWENS. President ALLOWA CORPORATION LTD (ALLOWA)
- England
And,
TRANSTECH ENGINERRING CORPORATION (TRANSTECH) - China
Derrick
Owens misrepresents that ALLOWA has Gold Dust, Dore Bar & Bullion (AU) for
sale.
Derrick
Owens has proven to be very deceptive, underhanded & dishonest in his
business dealings.
ALLOWA CORPORATION LTD HAS PROVEN TO BE NON-PERFORMER!
DERRICK OWENS PROVEN TO BE A CON-MAN, SCAMMER & FRAUD!
For
over the past six months our company (GULF Atlantic Group, Inc) (GULF) has had
the misfortune of working with Derrick Owens / ALLOWA Corporation Ltd. Owens has been working every angle you can
imagine to get into our bank account. If
you care to hear the details of Derrick Owens scheme to deceive &
defraud GULF, you will enjoy this read.
Heres
the outline of Owens program to rip-off your money
(A)
Owens represents that ALLOWA has Gold
Dust, Dore Bar & Hallmark Bullion for sale.
(B)
Owens requires buyer to provide an
SBLC (MT-760) and/or other various up-front fees to be paid in advance of
SKR/POP & delivery (minimum of $150K USD).
(C)
Owens signs agreements, then changes
the terms, procedures and conditions to delay performance. Owens constantly asks for additional money
before he will delivery.
(D)
Owens / ALLOWA have never provided
any SKR/POP or any other documentation to verify the origin, ownership or
authenticity of any product.
(E)
Owens / ALLOWA have never delivered
any product or performed what so ever!
In December
2009, GULF was introduced to Derrick Owens / ALLOWA and on January 5th
2010 GULF entered into agreements with ALLOWA to purchase 3,000 MT of gold dust
monthly for 36 months.
GULF is a
real buyer with real assets which qualifies us as principals in purchasing gold
dust & Dore bars. Historically, GULF
has owned several gold mines (and a small refinery) in central CA (USA), which
was sold off in 2007. GULF has purchased
and sold gold dust & Dore bars since 2005.
Initially,
GULF provided ALLOWA with a $1.5M (USD) SBLC MT-760 (Swifted to a Turkish bank)
and subsequently paid-out an additional $50,000 (USD) to ALLOWAS supposed
shipping company in China (Transtech Engineering Corporation), who has never
delivered and will NOT refund the money which was wired into TRANSTECHs Bank
of China bank account.
Because of
TRANSTECHs solid reputation as up=standing Chinese (government owned) company
and the assurance from Owens Mandate, we went ahead and wired the additional
$50K. We now believe that this $50K was
applied to ALLOWAS Transtech account to pay for mining equipment.
After over 6
months of Owens making excuse after excuse and coming up with many unfounded
"stories" as to why he couldn't ship the product and why we needed to
pay additional fees before shipping, To this day, Owens has never performed or
even proven that he has product to sell.
Because of Derrick Owens / ALLOWAs NON-PERFORMANCE and
VIOLATION OF OUR WRITTEN AGREEMENTS, on April 2, 2010 GULF terminated this
agreement with ALLOWA to purchase gold dust and requested ALLOWA to immediately
refund the $50,000 USD as had been assured. The following week, on April 7, 2010, a
second / FINAL written termination letter was emailed to Owens.
Owens has NOT honored our written contracts
ALLOWA is in direct violation of our agreements.
Owens is a story teller and has continued to put off shipment of the
gold dust many, many, many times. Overall,
Owens has conducted himself in a very poor business manner and completely
demonstrated his consistent non-performance in complying with our written
agreements.
Although Owens
agreed to provide the SKR/POP and other customary documentation, which were repeatedly
asked for, nothing has ever been provided.
Therefore, it is self-evident that Owens does NOT have any product to
ship and is NOT a "real" AU seller.
In the past,
every other "real" AU seller has provided GULF with (1) Certificate of Origin, (2) SKR/POP, (3) Certificate of Ownership, (4) VAT register, (5) Export License, (6) Movement Certificate(s) -
Previous shipments to USA, (7) Copy of Seller's Passport, (8) Customs
Documents, (9) Airway Bill, etc.
Owens never would
give us any of this info. In fact,
although Owens claims to have a USA Passport, Owens refused to provide us this
document. Therefore, Owens inability to deliver
the product or perform on any level, proves that ALLOWA is obviously NOT a
"real" AU seller.
According to
the written SPA (Sales Purchase Agreement), it was agreed that GULF would
provide ALLOWA a $1,500,000 SBLC as collateral for this transaction, which was
to be shipped to our USA refinery. However,
time after time, Owens has continued to ask for more money before he will ship
the product.
Although
this gold dust was originally agreed to be delivered CIF to our refinery, with
the SBLC as sole collateral for payment, as a concession to ALLOWA, GULF agreed
to wire $50,000 to Transtech Eng Corporation (TRANSTECH) on February 16, 2010,
based upon Owens assurance that TRANSTECH would act as ALLOWAs shipping
company and make the initial shipment. When
originally investigated, TRANSTECH checked-out as a top Chinese company.
Owens assured
us that once this payment was made to TRANSTECH he would immediately provide
the SKR/POP and ship the product, which has never happened. Since that time, Owens has continued to make
excuse after excuse in order to put off making this shipment and keeps asking
for additional money to be paid in order to complete this transaction.
After being
confronted as to ALLOWAs non-performance, Owens assured us that ALLOWA would immediately
refund the $50,000 to us without any delay.
Of course, when GULF made a formal request for the refund the $50,000
USD, Owens refused to refund the money.
TRANSTECH ENGINERRING
CORPORATION APPEARS TO BE IN COLLABORATION WITH ALLOWA TO PERPITRATE THIS FRAUD!
Owens has
repeatedly made untrue statements and has involved TRANSTECH in his scheme to
defraud GULF. Initially, it was thought
that Owens lies and deception were seriously jeopardizing the fine reputation
of TRANSTECH, however, not it appears the TRANSTECH has been playing right
along with Owens to defraud GULF.
From the
very beginning, as part of a Owens con-game to defraud GULF, he advised us
that Transtech Eng Corporation (TRANSTECH) was his official shipping company
for the delivery of the AU product. Of
course, we now know that this is a complete and total lie.
Our
attorneys have advised us that Owens fraudulent misrepresentations and lies
about TRANSTECHs involvement in this transaction (and his instructions to have
the $50,000 wired into TRANSTECHs bank account for shipping are legally know
as Fraud in the Inducement.
This is a very serious matter which causes
a negative effect on Transtech Engineering Corp.
As part of
Owens fraudulent scheme, Owens had TRANSTECH apply this $50,000 toward ALLOWAs
TRANSTECH account to pay for mining equipment or other services TRANSTECH
provided to ALLOWA. From the beginning,
GULF wrote & told TRANSTECH that this was never the intent of this $50K
that was wired into their account.
TRANSTECH knew all along that this $50K was intended for payment to ship
200 kgs of gold dust, per the purchase contract with ALLOWA Corporation.
As part of
our later investigation into Transtech Engineering Corporation, we verified
that TRANSTECH has nothing to do with the gold buying & selling business
and does not act as a shipping company for the shipment of gold to the USA.
Although we
also confirmed that the $50,000 which GULF wired to TRANSTECH, which was personally
acknowledged by TRANSTECHs CFO (Mr. Liu Qiang) on February 17, 2010, still remained in TRANSTECHs Bank
of China bank account
and had NOT been transferred or otherwise turned over to Owens or ALLOWA, it
now appears as though TRANSTECH may have credited ALLOWAs account. In any case, TRANSTECH has ignored GULFs
three written requests to return the $50K.
It is indeed
puzzling and very concerning why TRASNSTECH never responded to GULFs three (3)
written requests to return the $50K.
Letters were emailed to Mr. Liu Qiang at
TRANSTECH. These emails were sent on
(first) April 2, 2010, (second) April 7, 2010, and (third/FINAL) May 17, 2010.
TRANMSTECH
knew that GULF had terminated doing business with ALLOWA, however TRANSTECH
refused to honor GULFs request to refund this $50K. TRANSTECH was told that under NO
circumstances were they authorized by GULF to deliver or otherwise provide any
portion of these funds to Owens or ALLOWA.
At that
time, we also strongly advised TRANSTECH to immediately refund the $50,000 in
order to avoid being implicated with Owens and his scandalous & fraudulent
business practices.
Why do you suppose that
TRANSTECH choose to ignore GULFs request to return the $50,000?
Since
Transtech knew the truth about this situation, for them to ignore our emails
and letters concerning these fraudulent activities and to retain GULFs $50,000
caused me to question TRANSTECHs inappropriate behavior and to especially question
TRANTECHs honorability.
Therefore,
it can be assumed that TRANSTECH is in league with Owens / ALLOWA and a major
co-conspirator with OWNES / ALLOWA cooperating with this scheme and keeping GULFs
$50K.
Even today,
Derrick Owens still continues to request more money from us to complete this
transaction, yet he has never provided any documentation to verify the origin
or his ownership of the AU.
Owens always
claims he is "real seller" but he will never provide any
documentation to validate his capacity to perform. Once Owens gets you into the transaction, he
just keeps changing the terms, conditions and procedures which have been
previously agreed to with the SPA. After
that, Owens asks for more and more money to complete the transaction.
Once it was
determined that TRANSTECH was not delivering the gold, Owens came up with story
after story to stall the refund of the $50K.
On April 2nd, Owens promised to have the $50K returned on
April 26th (which put it off for three more weeks in order to wait
for ALLOWAs Executive Director returned from holiday, but instead, Owens then said
that the $50K was given to another unknown shipping company and is not
refundable.
Furthermore,
Owens says his new shipping company now wants an additional $46K to pay for at
various reasons, such as shipping fees, VAT, and now Demurrage charges. At every turn, Owens comes back with another
story & reason why he needs more money paid with no intention of ever
providing anything to anyone. Owens will
work to string-you-out if you allow him to!
Derrick
Owens claims to be working in London England, but his office is simply a
"front" - he is never actually at this address. On ALLOWAs contracts, Owens has provided the
address shown below
Address
Shipping Office: Vijzelstraat 1066 EW, Netherlands
Branch
Offices; United Kingdom, Mali, Burkina Faso
Tel+
44-7035-933-320 Fax: +44-7006-008-098
Email:
[email protected]
Registered
in England N 06837931 - Registered at Companies House on 05/03/2009
Owens claims
to have a USA Passport No. 017396907 Issued: 29 OCT, 2004, but it has never
been provided to anyone; not even Owenss Seller Mandate. Although Owens promised to provide full documentation
with SKR/POP, even after all agreements were executed and SBLC was received by
Owens bank, NO documentation or information was ever provided by Owens /
ALLOWA.
On ALLOWAs
contracts, Owens has provided the address shown below
Turkish
Bank = KILER GIDA MAD.IHR.TIC.VE TAAH.A.S = ALLOWA Corporation Limited
On
behalf of DOGRUOZ Giyim Tekstil
Sanayi Ve Tic. A.S (Partners),
SENOL
GNES CAD. NO: 2, City Center / Trabzon, Turkey
Although I
have never met of seen Derrick Owens personally, he has a heavy African accent
and his English can often be hard to understand.
Owens has
Skyped (via ALLOWA CORPORATION LTD) and emailed many messages during the past
six months from [email protected].
Owens is a rather poor writer &
speller in his correspondence. Normally,
when Owens IMs with Skype, it is in poor English with ALL CAPITAL letters.
BEWARE
of DERRICK OWNES / ALLOWA Corporation or any other person who represents this
behavior!