Jpjp:
Have you ever actually heard anyone say any of those things Sunfish ? Have you ever been in the room with a Saudi Prince, a Chinese billionaire or the head of a Venture Capital firm ? No ? I thought not.
Yes. That’s what they claimed to be.....
I left out the one who claimed to be the nephew of an Indonesian Government minister. He told our company that Indonesia was in the market for a new car registration computer system. We build and run it, he said, and we get $5 per car per year.The company spent over two million dollars scoping the system before it turned out the guy was an “entrepreneur’ who wanted to try the idea out. Nephew? No.
Then AUSTRADE arranged an interview for me in LA with a “major aerospace investor”. I was working for HdeH at the time. His “business plan” turned out to be us making defence stuff from the FSCM for him and selling it via Australia to thwart U.S. sanctions with him taking a commission for arranging these deals. I would still be in jail if that deal had legs.
Then there was the billionaire turkish businessman who wanted land in Geelong for a wool scouring plant. He waste two years of people’s time and money.
The venture capitalist with no capital, but big ideas......
etc., etc. , etc. The common theme is that they have no money but think they might be able to play both ends against the middle, create a deal out of thin air and take a commission.
If you haven’t met such characters, you’ve lived a sheltered life. Everybody with business experience has had to deal with clowns like these. I would expect several are in Deloittes list and Deloittes would know this is possible too. Some get around it by asking for $10,000 to get into the data room.
Sorry to be negative, but it’s the truth.