Scams - Self Liquidating Loans
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Self-liquidating loan was a much-talked about topic among offshore investors until the recent years. The process is unique. It enables you to take $100 million from an offshore bank as loan. This amount is utilized for an offshore investment that could produce 10% of annual return. The interest charges only 7% every year and makes use of just 8 million of the total sum of $100 million. Thus, they estimate that you would have procured a sum of $300 million in thirty years while paid just $240 millions. This would yield you $60 millions more from which the bank will discount the amount giving you $5 million.
The theory sounds simple but the scheme is all airy not yielding a single penny. It is foolish to believe that that you would get returns from the money you never owned, controlled or invested. The true self-liquidation loan is a short-term program working against the sale of goods and liquidation of inventory. It helps people requiring short-term loans. Factors and collection agencies purchase the collectibles of the company that are figuring a percentage that they cannot procure from the debtors.
The fraudsters do not use the self-liquidation loans in the same way. They talk of getting loans with no intention of paying back. There is not a single legal scheme that corroborates this idea. The only people who make money out of it are the ones who propagate it in the name of opportunity. The others beneficiaries exploit your personal financial information and make use of it to reach their ends. The authorities find it difficult to stop this conning. While there are Federal laws promulgated against wire and mail fraud the lack of adequate resources make it difficult to check it entirely. Besides, around 90% of these advance fraud operate from and thus the authorities cannot control them.
The next time you come across a scheme offering self-liquidation loan be on your guard and preferably do not venture it.
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