We were looking for project financing in the Dominican Republic. Ravi of global said he had a lender but required a $15,000 deposit to confirm that we were serios borrowers. The money was paid and he refered us to FDP Financial. This company appeared in your reports and we were concerned about them. I asked Ravi for a references for this company that required an addition $10,000 US deposit. Ravi said he funded over $2 billion with this company. I thought ths strange since they claimed to manage only $500 million in assets. Ravi then provided me with a reference for FDP. When I checked the reference, an oil exploration company, I was told that FDP were frauds, they took your money but had no facility to lend.
Ravi then referred us to a second lender that wanted a $10 million US up front fee. He referred me to their website and they appeared to be a construction company not a lending company.
He then referred us to Pheonix Lending. There were reports from other brokers that they were also fraudulent and they ultimately filed for bankrupcy.
In October we asked, following the contract we signed, for Ravi to return the deposit. Ravi promised the money on numerous occassions and didnt deliver. We hired a lawyer and Ravi did return some of the money in drips and drabs. We have now instructed our lawyer to sue for the balance owing.
Dennis
puerta plata
Dominican Republic
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