DWS Corporate Bond;Scam?

gadgetmind

On the bright side, Google likes MSE so much that searching about this "bond" now brings up this thread.

colsten

ibrox1 wrote: »

I was approached by a representative (Simon Carter)purporting to be from the Deutsche Bank offering to give financial advice.

ibrox1 wrote: »

I was ..... made aware by Simon that on the Deutsche website there was a warning about a scam revolving around the selling of this bond.

Assuming Simon is Simon Carter, why would he tell his prospect about the warning on the DB website?

My brain hurts.

Atreyu107

colsten wrote: »

Assuming Simon is Simon Carter, why would he tell his prospect about the warning on the DB website?

My brain hurts.

I would imagine he said something like the following:

Simon Carter: So, now that we've gone though the product, I take it you're ready to fork over your 10k?

OP: Hmm, I want to think about it first. Let me do a bit of research online...

SC: Erm.... Ok. Just so you know, some unscrupulous b**tards have been hawking dodgy bonds recently, so you'll notice a warning on our website about this. I, on the other hand are a 100% legit employer of DB because my email address is simon.carter@db.com and you can't get one of those addresses without working for DB.

OP: Brilliant! No need to do any more research. I shall send a Faster Payment to the bank details you've provided to me right away! Can't wait to get my 7.25% interest next year!

Etc etc.

ibrox1

Thanks for all the input.


That is indeed the warning I was alerted to by Simon Carter.
I had told him I had not read his documentation when he pointed out to read the website warning.
Re cold calling I thought I read that there were loads of that type of behaviour going on since pension regulations were relaxed and people could now get their hands on pension pots.
I do appreciate the warning though.


There is no information about underwriting of the bond.
The paper has a genuine sort of feel to it and the application pretty detailed even asking for proof of identity,Ni Number,Income.


Perhaps too much and could empty your account I don't know.


The other thing is I tracked Simon Carter down by Googling to get a phone number for Deutsche Bank which turned out to be the incorrect number but this firm worked in the financial field , who then gave me another number and went through apparent switchboards before reaching an answer phone.
Neither of these numbers were provided by Simon Carter.


Five minutes later Simon Carter phoned me.


My brain also hurts , but my gut tells me something ain`t right

AlanP_2

Go with your gut would be my gut feel.

ibrox1

Other bits which may be of interest.


The phone number I sourced for Deutsche 0207 545 8000
Simon Carter 020 3129 1336


However , on the envelopes I received purporting to come from Deutsche, London is
Royal Mail
South East Anglia Mail Centre


Is East Anglia not Suffolk Area and why would something sent to Scotland from presumably London have this stamp on it?

dunstonh

Re cold calling I thought I read that there were loads of that type of behaviour going on since pension regulations were relaxed and people could now get their hands on pension pots.

Yes, there has been an increase in pension scams in the lead up to pension freedoms. However, that doesnt change the fact that cold calling is not done by genuine firms.

The paper has a genuine sort of feel to it and the application pretty detailed even asking for proof of identity,Ni Number,Income.

it would be a pretty poor scam if it wasnt able to catch people out.

Gadfium

colsten wrote: »

Assuming Simon is Simon Carter, why would he tell his prospect about the warning on the DB website?

I can think of a couple of reasons:

1. He (Simon) is stupid. After all, if he was clever then he probably would not be relying on dubious scams to earn a crust.
2. If anyone reads the warning and then decides to proceed, then Simon can rest assured that he has the most gullible of gullible people on the hook. If you are in the business of scamming, then you really do want to be dealing with the most gullible section of the population, and this is a fine way of selecting them "Hey, I even showed them the warning notices on our website and they STILL went ahead!":D

ibrox1 wrote: »

Re cold calling I thought I read that there were loads of that type of behaviour going on since pension regulations were relaxed and people could now get their hands on pension pots.

So, you've heard that there are all sorts of similar scams going on and you are still wondering to proceed or not???:eek:

ibrox1 wrote: »

There is no information about underwriting of the bond.

Again...you are still wondering whether to proceed or not??? :eek:

ibrox1 wrote: »

The paper has a genuine sort of feel to it

Who'd have thunk it? A scammer makes their paperwork appear genuine???

ibrox1 wrote: »

..the application pretty detailed even asking for proof of identity,Ni Number,Income.

No doubt so they can clone your identity as well as taking your money...

ibrox1 wrote: »

Perhaps too much and could empty your account I don't know.

They probably won't need to empty your account. It sounds to me like you are going to the hard work for them, to be honest.

ibrox1 wrote: »

Thanks for all the input.
My brain also hurts , but my gut tells me something ain`t right

If you can't spot this obvious scam from a hundred paces, then I have some magic beans for sale. I don't want to offer them to any random person, but I do think that you might just be the person to get best use of them. Please send me £5000 in cash and I will get your magic beans to you straight away.

macca1974

Without wanting to sound rude, something doesn't seem right because it isn't right.

As has been said

You were cold called
There is a warning on the Deutsch Bank web site about this practice
Its a scam

If you still are feeling that it might be a worthwhile investment, then if you look up the guys name on the FCA register, you will see this warning on the only person with that name working at Deutsche Bank.

Warning / Cloned firms

"Individuals are using the details of this firm to suggest they work for the genuine firm. We call this a ‘cloned firm’ and it is typically part of a scam.
To contact the genuine firm you should call the switchboard number listed on the Register – and contact us if this is not provided. Find out more about the clone firm(s):
Deutsche Bank AG, "

Its a scam.

ibrox1

Gadfium


How much for those magic beans:beer:


Macca1974:T


Thanks for the input everyone.
I`d like to think I was pretty much well done the road of not getting involved before I posted.
There are some unexplained bits but bottom line is I knew too good to be true and at least this thread bring this to the attention of others who potentially might be duped.