How do I know if approach to buy shares is legit?

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  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Paul_DNAP wrote: »
    A scam such as this sometimes requires the seller to pay for some sort of "insurance bond" or "NDA fee" to guarantee that they won't blab about the takeover. This could be several grand, even for a small share holding.
    And if that is not enough to scare you off, when the transaction actually comes up you then of course need to tell them all your banking information, but instead of receiving a payment you lose control of your bank account and all your money. And the insurance bond. Oh, and your shares.


    Ouch. Thanks for the info.

    Worrying that someone can think that £400 is of any consequence to a takeover and thus even think there's a possibilty this is for real.

    Lack of education about financial matters means that people are easily bamboozled I suppose. I've just had to put a relative right on why penny shares arent "cheap" - "surely a share at 40c is much better than a google or apple one at hundreds of times more cost?"
  • LobsterMemory
    LobsterMemory Posts: 439 Forumite
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    If you look on the FCA pages they list literally thousands of firms trying this on

    https://www.fca.org.uk/scamsmart/warning-list

    If the firm that contacted OP isn't already on the list...

    Report an unauthorised firm
    If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact our Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use our share fraud reporting form.

    You can see more ways to report an unauthorised firm and find out what to do if you have been scammed.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    LobsterMemory wrote: »
    If you look on the FCA pages they list literally thousands of firms trying this on

    https://www.fca.org.uk/scamsmart/warning-list
    .

    Are you sure thats the right link?
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
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    AnotherJoe wrote: »
    LobsterMemory wrote: »
    If you look on the FCA pages they list literally thousands of firms trying this on

    https://www.fca.org.uk/scamsmart/warning-list
    .
    Are you sure thats the right link?

    Seems fine to me?
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    It works as a link, but its not a link to the specific scam mentioned nor are any of the drop downs, AFAICS, relevant to this case.


    For example it starts off with "What are you considering investing in?" but the OP wont be "investing" in anything, she'd be selling shares.
  • LobsterMemory
    LobsterMemory Posts: 439 Forumite
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    Hi. Yes, that link is a bit of a mishmash

    I went to the FCA site and looked up a firm that had called me up with the same patter about 10 years ago. I think that was where the text came from
  • christineb333
    christineb333 Posts: 4 Newbie
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    Thanks again for all replies ... especially those minus the sarcasm ;)

    (I did say I was inexperienced; hadn't done anything other than give an email; had come here to check; felt at least had a duty to check this out before totally dismissing out of hand … give me a break!!!)

    Clearly I won't be doing anything other than proceed through normal channels now. Here for anyone's interest is the intermediary company's name and website: stubblefieldadvisors dot com (can't post an actual link as a newbie)

    The FCA don't list US companies to my knowledge?
  • HappyHarry
    HappyHarry Posts: 1,588 Forumite
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    edited 9 July 2018 at 6:25PM
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    christineb333 wrote: »
    Thanks again for all replies ... especially those minus the sarcasm ;)

    (I did say I was inexperienced; hadn't done anything other than give an email; had come here to check; felt at least had a duty to check this out before totally dismissing out of hand !!!8230; give me a break!!!)

    Clearly I won't be doing anything other than proceed through normal channels now. Here for anyone's interest is the intermediary company's name and website: stubblefieldadvisors dot com (can't post an actual link as a newbie)

    The FCA don't list US companies to my knowledge?

    Stubblefield Advisors LLC

    Google doesn't find anything out about this company except the details posted on their own website. No client references, no reviews, no providers, nothing. Not even a linkedin reference. That is just weird, and a bit scary.

    Not what you would expect from a company that "Since the early 2000s, Stubblefield Advisors LLC has been the trusted partner for strategic BUSINESS CONSULTANCIES and financial services that result in accelerated business progression, boost in efficiency and generated shareholder assets."

    It looks to me, like just a website, run by unknown people, for unknown purposes. They don't appear to be a real business.

    Other companies in the real Business Consultancy sector, especially those specialising in M&A advice, would include Goldman Sachs, Accenture and Deloitte, all of which have a far more prominent web visibility.

    I think the OP has had a potentially lucky escape. All kudos to those that helped the OP avoid this scam.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • k.kelsey
    k.kelsey Posts: 1 Newbie
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    Been approached by Zimmerman Capital to buy some worthless shares from me for an inflated ridiculous price of course its a scam albeit a very good one lots of phone calls to lull me into a false sense of security. Let it run its course till I got bored with answering and said it was a scam then it stopped.
  • TBC15
    TBC15 Posts: 1,452 Forumite
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    christineb333 wrote: »
    Thanks again for all replies ... especially those minus the sarcasm ;)

    (I did say I was inexperienced; hadn't done anything other than give an email; had come here to check; felt at least had a duty to check this out before totally dismissing out of hand … give me a break!!!)

    Clearly I won't be doing anything other than proceed through normal channels now. Here for anyone's interest is the intermediary company's name and website: stubblefieldadvisors dot com (can't post an actual link as a newbie)

    The FCA don't list US companies to my knowledge?

    They also serve who only rip the P. Considered opinion will give you food for thought.

    Howls of derisive laughter will focus your attention
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