SCARS Institute’s Encyclopedia of Scams™ Published Continuously for 25 Years
Anatomy of a Scam: Completely Fake Businesses
Scammers create the appearance of completely real businesses to scam you!
A Scam Warning
A Different Kind of Nigerian Scam!
This is a new Nigerian Money Scam Creating Fake Companies
This is not a Dating Scam, but it comes from the same people in Nigeria that engage in dating scams, and this one could actually land the victim in jail.
For these reasons we have decided to highlight it here, to make you and others aware of its existence.
The Basic Idea:
A legitimate investment company contacts you innocently enough through either social media (such as LinkedIn, Facebook, or Twitter) or even through dating websites. The message speaks about financing, loans, or investments that they offer at low-interest rates (typically 3% to 4%). They invite you to apply or send your business plan.
The person that contacts you appears to have a legitimate email address from the “real” company. In fact, if you go to the company’s website, and contact them, they confirm the person that contacted you.
There is only one problem, ok maybe many problems. The emails come from Nigeria (IP Address: 41.190.3.4), not where you think they do.
Abdullah Nasir, CEO at Abdullah Investment Consulting
Here is a typical first contact:
Abdullah Nasir, CEO at Abdullah Investment Consulting
The Text:
LinkedIn InMail · Job inquiry
RE: Thank you
Abdullah Nasir, CEO at Abdullah Investment Consulting
September 16, 2014 8:44 AM
Dear
Thank you for your email.We will be interested to invest as a debt finance at 4% and what we need for our review is the business plan and executive summary.All questions should be directed to him for a more comprehensive answer.
If you have interest kindly send your proposal to our project finance manager’s official email address as stated below for further details.
Email: ahmedsaaf@esteradinvestments.com
Name: Ahmed Saaf.Looking forward to building a strong business relationship with you.
Regards,
Abdullah.
Abdullah Nasir
CEO at Abdullah Investment Consulting
Notice that for a businessman of his age, he has vey limited work experience in his profile. Ironically, MANY people have endorsed this profile for his skills, yet none of them know him!!! Sheep being led to slaughter.
He also claims to have gone to a minor U.S. University, which is also not typical for an affluent Arab businessman.
Abdullah Nasir
CEO at Abdullah Investment Consulting
Of course, the kicker is that a TinEye search of the profile photo shows that it is actually the Bahrain Minister of Defence! [clue: always do a photo search even if you don’t smell a rat!]
Following up on this, we naturally contacted the company involved: Esterad Investments through their website: www.esteradinvestments.com which appears to be VERY REAL! BUT IT’s NOT – this is how go the Nigerians now are!
The WEBSITE
The website itself:
http://esteradinvestments.com/
According to WHOIS, the website is hosted in the U.S. and the Domain Registered in Panama [very abnormal for any real business]:
Tech Name: Domain Administrator
Tech Organization: Fundacion Private Whois
Tech Street: Attn: esteradinvestments.com, Aptds. 0850-00056
Tech City: Panama
Tech State/Province:
Tech Postal Code: Zona 15
Tech Country: PA
Tech Phone: +507.65967959
Tech Phone Ext:
Tech Fax:
Tech Fax Ext:
Tech Email: 53ebd4c5ctzg2wmb@5225b4d0pi3627q9.privatewhois.net
Name Server: ns1.ok2host.com
Name Server: ns2.ok2host.com
This is a post office box in Panama! For a Bahrain company!
According to the real reviews of the company, the real web address is: www.esterad.net which is currently under construction.
According to “BusinessWeek”: Esterad Investment Company BSC is a publicly owned investment manager. The firm invests in the public equity, fixed income, and alternative investment markets across the globe. Its alternative investments include investment in private equity and real estate markets. The fund’s public equity investments are spread across the Arab stock markets and investments in the international markets through third-party managers. Esterad Investment Company BSC was founded in 1973 and is based in Manama, Kingdom of Bahrain. But the website says they were founded in 1997 [remember to always look at the details, this is where scammers slip up!]
EMAILS
In following up about the legitimacy of this initial contact, the following emails were exchanged:
#1: Sent to: info@esteradinvestments.com
Dear Sirs,
I have been contacted by someone from your company on LinkedIn, using the profile:
I mean no disrespect, but in a world of scams, I wanted to confirm that this person is a representative of your company before I proceed.
Thank you for your time, and I look forward to you information.
Warmest regards,
#2: Reply from info@esteradinvestments.com
Dear xxx,
The link you sent expired.What is the persons name and who did he ask you to contact.
You are right in finding out and i will like to know more about the person.Looking forward to your reply.
Regards,
Noorruddin A. Noorruddin
[No, the link had not expired – but does require a LinkedIn login – which he should have had.]
#3: To info@esteradinvestments.com
Mr. Noorruddin,
Thank you for your quick reply.
It is ironic, in that I am potentially interested in working with your company. I have developed a very extensive new business plan to launch a new business here in the United States that I would like to discuss. This is why I wanted to confirm if the message I received was real.
However, I suspected that this contact might have been false, because it is using the photo of one of your government officials, but with a different name.
The name used on the LinkedIn profile is: Abdullah Nasir, CEO at Abdullah Investment Consulting ahmedsaaf@esteradinvestments.com Here is a link to his profile on LinkedIn:
Thank you again for your rapid and gracious reply.
Warmest regards,
#4: Reply from info@esteradinvestments.com
Dear xxx,
Thank you for the link and the PDF file.He is one of our registered brokers and he is genuine.Kindly proceed with your transaction with him.We are aware of him using our name because he is registered with us.
Are you in need of project financing?You can discuss with him or can present the project directly to us for review.
Regards,
Noorruddin A. Noorruddin
[This was an odd reply from the “CEO” of a major investment group. Scammers never quite know how business works, or what formal business communications are like.]
#5: To info@esteradinvestments.com
Thank you for your reply.
I am curious, why is he using someone else’s photo? Is that photo not of your Minister of Defense?
[Now we are getting to the meat of the mystery!]
#6: Reply from info@esteradinvestments.com – Love this one!
Dear xxx,We Arabs look the same in the sight of foreigners.That is his picture and not the picture of the Minister of Defense.Regards,Noorruddin A. Noorruddin
[The CEO of a major Arab Investment Group didn’t just say that? Yes, He Did! Of course, it was a scammer in Nigeria that said that! No business person in their right mind would ever say such a thing in writing!]
Conclusion
This is not isolated, there are multiple scams the follow a similar approach out there. Be careful!
In short, always look at the details.
In this case, the profile was “off” – not enough substance for a professional of that man’s age, not enough work history.
The website was “wrong” and had details that were inconsistent with other published information.
The emails also proved to be the final proof of fraud coming from Nigeria [we checked the email properties to find the IP address that confirmed they were from Nigeria.]
Always Be On Guard And Verify Everything!
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By the SCARS™ Editorial Team
Society of Citizens Against Relationship Scams Inc.
A Worldwide Crime Victims Assistance & Crime Prevention Nonprofit Organization Headquartered In Miami Florida USA & Monterrey NL Mexico, with Partners In More Than 60 Countries
To Learn More, Volunteer, or Donate Visit: www.AgainstScams.org
Contact Us: Contact@AgainstScams.org
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ARTICLE META
Important Information for New Scam Victims
- Please visit www.ScamVictimsSupport.org – a SCARS Website for New Scam Victims & Sextortion Victims
- Enroll in FREE SCARS Scam Survivor’s School now at www.SCARSeducation.org
- Please visit www.ScamPsychology.org – to more fully understand the psychological concepts involved in scams and scam victim recovery
If you are looking for local trauma counselors please visit counseling.AgainstScams.org or join SCARS for our counseling/therapy benefit: membership.AgainstScams.org
If you need to speak with someone now, you can dial 988 or find phone numbers for crisis hotlines all around the world here: www.opencounseling.com/suicide-hotlines
A Note About Labeling!
We often use the term ‘scam victim’ in our articles, but this is a convenience to help those searching for information in search engines like Google. It is just a convenience and has no deeper meaning. If you have come through such an experience, YOU are a Survivor! It was not your fault. You are not alone! Axios!
A Question of Trust
At the SCARS Institute, we invite you to do your own research on the topics we speak about and publish, Our team investigates the subject being discussed, especially when it comes to understanding the scam victims-survivors experience. You can do Google searches but in many cases, you will have to wade through scientific papers and studies. However, remember that biases and perspectives matter and influence the outcome. Regardless, we encourage you to explore these topics as thoroughly as you can for your own awareness.
Statement About Victim Blaming
Some of our articles discuss various aspects of victims. This is both about better understanding victims (the science of victimology) and their behaviors and psychology. This helps us to educate victims/survivors about why these crimes happened and to not blame themselves, better develop recovery programs, and to help victims avoid scams in the future. At times this may sound like blaming the victim, but it does not blame scam victims, we are simply explaining the hows and whys of the experience victims have.
These articles, about the Psychology of Scams or Victim Psychology – meaning that all humans have psychological or cognitive characteristics in common that can either be exploited or work against us – help us all to understand the unique challenges victims face before, during, and after scams, fraud, or cybercrimes. These sometimes talk about some of the vulnerabilities the scammers exploit. Victims rarely have control of them or are even aware of them, until something like a scam happens and then they can learn how their mind works and how to overcome these mechanisms.
Articles like these help victims and others understand these processes and how to help prevent them from being exploited again or to help them recover more easily by understanding their post-scam behaviors. Learn more about the Psychology of Scams at www.ScamPsychology.org
Psychology Disclaimer:
All articles about psychology and the human brain on this website are for information & education only
The information provided in this article is intended for educational and self-help purposes only and should not be construed as a substitute for professional therapy or counseling.
While any self-help techniques outlined herein may be beneficial for scam victims seeking to recover from their experience and move towards recovery, it is important to consult with a qualified mental health professional before initiating any course of action. Each individual’s experience and needs are unique, and what works for one person may not be suitable for another.
Additionally, any approach may not be appropriate for individuals with certain pre-existing mental health conditions or trauma histories. It is advisable to seek guidance from a licensed therapist or counselor who can provide personalized support, guidance, and treatment tailored to your specific needs.
If you are experiencing significant distress or emotional difficulties related to a scam or other traumatic event, please consult your doctor or mental health provider for appropriate care and support.
Also read our SCARS Institute Statement about Professional Care for Scam Victims – click here to go to our ScamsNOW.com website.
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