Check Scams, Debt Collection scams and other financial scams.
#160127 by londoner85 Tue Apr 02, 2013 8:37 am
Somebody cold-called my father, claiming to be from a Wealth Management company called Whitesands Capital based in Hong Kong. The guy said his name was James King and recommended buying a share in a US telecomm company. My father was convinced with his pitch and was about to transfer the money to him to do the transaction. However, as I looked into the company, I realised they're a scam and they don't exist.

Their website http://www.whitesandscapital.com/ looks legit at first look, but once you look into details you realise they're complete con-men.

1) I couldn't find any record of any of the people that work for them, and they claim to have 140 people in 23 countries.
2) They don't have any contact details besides the Hong Kong office, which when I call gives an automated answering machine even during business hours.
3) Even though they claim to have been in business since 1999, the only articles I could find on them online are on Prolog.org for a few articles written between Dec 2012 and Jan 2013, WRITTEN BY WHITESANDS themselves.

These scammers are sophisticated and can get info about yourself and family that are used in their conversations to lure you. Please do not be fooled by them because they are fraudsters and scammers.

Whitesands Capital is a scam. White sands capital does not exist. Do not invest with them.
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#160228 by TerranceBoyce Tue Apr 02, 2013 4:58 pm
If a stranger writes, phones or rings my front doorbell selling me anything, the answer's 'no'. If they're located abroad, I'd just put the phone down.

It would be improper for a legitimate UK company to 'cold sell' investments over the phone. It's why they have to operate from abroad and why they shouldn't be entertained.

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#160231 by londoner85 Tue Apr 02, 2013 5:27 pm
Yes very good point. If someone cold calls to sell financial products then 99% of the time it is a scam.

I am posting this here in case someone else is encountered by scammers calling from Whitesands Capital and hopefully this can save them a lot of money when they Google their name.

Whitesands Capital is a fraud and a scam. AVOID THEM BECAUSE THEY WILL STEAL YOUR MONEY.

Below is a good link about how to spot financial scammers and how to deal with them:

http://www.learnmoney.co.uk/advice/advice-79.html
#160241 by TerranceBoyce Tue Apr 02, 2013 6:20 pm
Your post is welcome and useful londoner85.

I didn't mean to suggest otherwise.

Seeing so many scams and scammers makes me a little cynical and abrupt - my apologies for that.

I believe that they use company share registers to get "victim lists' and any investment company doing that shouldn't be touched. A reputable investment company has clients - scammers cold call.

Undoubtedly you've done your father a favour, and once they get their hooks in to a person they don't let go. Apart from the financial loss, they'll harass a potential victim without mercy. I know because I intentionally attract them.

CAR ADVERTS - If a car seller mentions escrow - he's scamming you Never ever for any reason pay anything until you have seen and inspected the vehicle

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