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08-18-2007, 12:58 AM
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Slco Scam
Hi, Buyers beware of this chain of people selling SLCO.
Christine L --> Maverick --> Haikal --> United Petroleum Co... They will send this sweet lady from Malaysia called Christine L who will say the following: 1. Her friend's uncle is currently collecting commission for his SLCO deal from this same source. 2. She is negotiating a 300mil BBL/mth SLCO deal with ARAMCO plus many other SLCO deals. (I checked later from http://www.saudiaramco.com/irj/go/km...KeyFigures.pdf that Aramco only produces 3.25 bil annually or 270 mil BBL/mth - This is mistake number 1. Believe in FACTS and FIGURES not STORIES) 3. She is on Seller's side and can even put you on seller side if necessary. (This is mistake number 2. Its not Xmas yet and no one is a SANTA CLAUS) 4. She will sign NCND but not the other two parties and get your ICPO. (This is mistake 3. MAKE sure all parties signed NCND as her NCND only contains her name and not the other TWO parties) Story as follows: We passed her ICPO after getting her NCND. After 1 week, normal time for ARAMCO to reply. She will tell you the following: 1. Deal is real. Needs to wait. 2. FCO is issued but mandate needs to check Bank accounts. 3. FCO is with mandate (Haikal) but cannot be released due to this and that etc. This continues into the 2nd to 3rd week, she will tell you the same thing over and over again. We then asked us to find out the issue so that we can address this issue with the buyer. She called us back a few days later and said that Haikal need BCL before he can issue FCO to Buyer through us. At that time, I did not check ICPO properly and told my partner the same thing. He scolded me and said that ICPO contains authorization to conduct soft probe o the Bank account. This procedure is also acceptable to ARAMCO as the buyer already have a ARAMCO number andpurchase SLCO before. When I told Christine this information, she said that she did not read the ICPO. After she read the ICPO, she said that she will check with Maverick/Haikal. (Act Dumb to buy time) After waiting so long, we the got impatient and decided to check with our other SLCO seller contacts. To our horror, we checked and found out the following: FCO is already issued to another broker , Yasser M. We know that ARAMCO do not issue more than 1 FCO for 1 ICPO. Hence we are stuck and need to wait for this ICPO to expire before we can get a new one form the Buyer. We further check United Petroleum Co…They operate off a PO Box. No one answers their telephone too. We then informed her about the issue. The she says: She then informed Maverick and he said query us to as follows: Why did we issue this ICPO to other people? Of course, we did not send this to anyone else but her. We told her that she is the only person that was given the ICPO. (Good trick. she used the same information against us) She then "disappears". When we chased her for the feedback on the situation, she then calls me and tells me this new story: Maverick has gone to Saudi to meet up with Haikal and find out what is happening. They want to QUERY ARAMCO on why they issued TWO FCO for the SAME ICPO. (Buy time …and delay us) We still trusted her then as she is a SWEET LADY. Then we told her that we need to collect evidence to find out what happens to our ICPO. We asked her to start sending this query to the next person Maverick to ask him who did he send this ICPO to and so on in order to track down where it has gone. We told her our intent is to prove circumvention and get our rightful commission. We told her not to tell Maverick and Haikal our intention. When we chased her for the feedback on the situation, she then calls me and tells me this new story: A. Maverick is in Saudi Arabia and have contacted Haikal and ARAMCO B. Maverick told you that no one else got the FCO except Haikal C. Maverick told you that FCO cannot be issued to Buyer. Reasons unknown She then disappears again. I then call and call to get her. Finally, we got a phone call from her with the following verbal information. MAVERICK is challenging us to prove that they are circumventing . They are REAL and DO NOT circumvent. They are the only party that was given the FCO but cannot issue to us. They do not undertand why we say that FCO is issued to someone else. They cannot release FCO to us as there is some issue with the Bank. Again, I asked her to send us an email (in writing on what has said to her) her most recent VERBAL call as I now suspect something is very wrong. She disappears never to appear again. We lost our buyer and buyer mandate as both of them suddenly do not respond to our phone calls or emails from that week onwards. Fellow traders, you be the judge.. Just beware of this SWEET LADY from Malaysia. BTW, she also fails in many deals. I thought she could perform on SLCO given her tagline "Her friend's uncle is currently collecting commission" Her seller contacts are also ICPO collectors. 
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