I've got a story even better than that. In fall of 2002 a company called Jetair International, Ltd. proposed to start charter operations out of the Czech Republic and Germany to Asia. Also proposed ops from the Philippines to North America. This was supposed to be in 767/747 A/C.
They managed to get 30+ people to wire 10,000 USD "training deposits" to accounts in Prague and Manila. Training was supposed to include type rating in the above aircraft. Some of those who signed on were low time individuals looking for their first jet. But many were high time individuals whose companies had recently ceased operations in the United States, and these people found themselves out of work at a bad time. Some were nearing retirement and were looking for a few more productive years of income.
Needless to say, excuses were made for delays in the start of operations. First it was the situation in Iraq, then SARS. Finally, it became apparent one of the principals had disappeared into the Philippines and was not returning to the States. The other principals in Prague claimed to know nothing of training deposits (although evidence indicates they did), closed the Prague account, and put the company into voluntary liquidation. They are currently living quite nicely in Prague.
The individual in the Philippines it turns out has a history of involvement in questionable schemes, despite his background as a Captain for a major U. S. carrier. He still claims to be starting an operation there, and has even claimed to be associated with a Canadian humanitarian organization that has never heard of him. His family in the United States has had local authorities open an investigation of his activities.
The money put into this scheme will most likely never be recovered. Although we are trying to bring criminal sanctions against the principal from the United States, it is difficult to get interest in what is essentially a wire fraud case. And the individual continues to hide in the Philippines. It is even harder to move against the principals in Prague, although we are trying. Both of these individuals were respected 747 Captains working as expats for an overseas carrier.
The moral of my story is be wary of these start up operations. These individuals were both well respected Captains in our profession, and that meant nothing. When funds are lost in these ventures, particularly overseas, there is very little legal recourse. They have told lie upon lie, and have continued to point fingers at each other. Stick to established carriers. I will freely admit to having made a bad decision in becoming involved with this operation, but in due course I received an excellent employment offer from an established carrier. Be patient, no matter how hard that may be. I was out of work for 18 months and was high time. I know how hard it is for those just starting out to heed that advice when employment opportunities are so scarce. Better than losing 10K.
Anyone that might have any other helpful information regarding Jetair International of Gibralter, please feel free to send me a message.
