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| Royal Savings & Loan Ekonomisk Forening, RSLE Holdings, Al Atas Group Sheik Muhammed Al Atas, Doctor Al Atas International investment scam / fraud uti |
| 3rd of Nov, 2011 by User704906 |
| Muhammad Adnan Al Atas appears to be involved in an international scam utilizing fraudulent Prime Bank Notes and fraudulent Letters of Credit and promising the duped investors huge returns of 100% or more in a short period of time, usually 30 to 90 days. Some of the investors understood that they were investing to become a “member†in an economic association. The memberships were offered for $500,000 or more. In some cases, groups of investors were pooled together to come up with the membership fee and were each promised 100 % return in a matter of weeks. The victims were often told the investment was so complex that they would have difficulty understanding and other terms such as Swift and KTT were used to indicate the sophistication of the investment opportunity. Several potential investors were invited to visit Al Atas in Labuan, Malaysia. The Al Atas Group claims to be made up of banks, international trading in bullion, precious metals and stones, and stock brokerage houses with companies based in various countries including Singapore, Thailand, Malaysia, UK, USA and Australia. In the past two years The Al Atas Group and RSLE Holdings (Malaysia) made a failed attempt to purchase The Anod Bank of Mongolia and met with representatives of the Cook Islands to discuss the utilization of a note backed by the Cook Island’s collective assets. Al Atas told the government representatives that the note would be traded on the stock exchange and promised a 10% return per week. The following individuals are believed to be working with Al Atas and may be assisting him to perpetrate this fraud: Peter Gregory Kakos of Palos Hills, Illinois Yossi Joseph First of Los Angeles, California Madeleine First of Los Angeles, California Kakos and Associates Global Accountants LLC of Palos Hills, Illinois The following company names have been identified as being related to the scam: Royal Savings & Loan Ekonomisk Forening (RSLE) of Sweden RSLE Holdings Al Atas Group Regal Credit, Australia Royal Pacific Bancorporation Limited Al Atas Holding Group Touched by an Angel P & R, LLC Emperor Global Investment Group Emperor Management Associates First Trust Company of Switzerland An investigation is underway to identify other victims of Al Atas and his group. The objective is to provide an investigative report with as much information as possible to local police, federal authorities and the appropriate international law enforcement agencies. If you have additional information related to Al Atas, the identified companies and individuals or if you are a victim of this group, please contact us at: |
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