Problem Jumeirah resources plc

[ppiper2]

Jumeirah Resources PLC (ticker code JMR) is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada (ALLEGEDLY)
Unfortunately, with a very professional web-site, many investors, including myself have been sucked into buying "paper" shares which need to be transferred into Electronic versions to be able to trade. The price has fallen like a stone since April 2012, and on investigation, this appears to be an elaborate SCAM.
The company no longer answers any e-mails and is not responding to direct communictions, by text/phone. So, by not being able to transfer paper shares to Electronic ones, I cannot sell the shares even if they are/were Legitimate!!!!
They are marketed through the German unregulated Market (Frankfurt Floor) and are still looking for investment punters....SO BEWARE!
Regards,
ppiperp2

 

[BigT1]

Hello ppiper2,
For good or bad you have learned a life lesson.
Never trade OTC stocks not registered and publicly traded in an open public market!
I hope your investment was not of a crippling amount.
Provide us more detail if you wish further assistance, or contact me privately.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164

 

[Pharaoh]

What's their website? The more info we can put in this thread, the more likely others will find it and be warned.

How did you get drawn into this scam?

 

[AsstModerator]

Ppiper2,

I've moved your thread over to non-forex scam alerts. Please do provide more information. That will help other traders avoid haveing the same problem.

 

[ppiper2]

Jumeirah resoures plc

JMR shares have been on sale for over 2 years now. The SCAM is simply they will not convert the "paper" issued shares into Electronic versions for ease of sale, hence you cannot sell them!
The President is James Powell, also of Grid Petroleum who does not respond to personnal e-mails either or sent to the web-site contact details. The Company number registered is 7611578 and in their tax annual return in April 2012, allegedly have 600, 000 shares through 3 directors, the first being James Powell, the second being Rajeev Samtani from Dubai and third being Mrs Stephenie Capozzi formerly known as Grafton.
Interesting to see that the Share price has fallen to virtually nothing from 1.4 euros in April....no activity since that date and not answering any communications!
Does anybody else have shares in this Company and had similar problems selling them?
ppiper2

 

[BigT1]

Hello ppiper2,
You discuss JMR, but the attached certificate is an ADR for Blackhawk Mines.
What country are you in?
In what country is the company registered?
In which market does this ADR trade?
Are you the person named on the ADR certificate?
Nothing you wrote seems to relate to your document.
I might be able to help if you can better explain.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164

 

[ppiper2]

Antony,
Many thanks for your reply. I'm new to FPA and I'm finding it hard to navigate!
Answering your questions...
The attached certs ALSO have JMR AFTER the blackhawk mines certs...
Company is registered in England
JMR trade in Germany in the unregulated Frankfurt market (Frankfurt floor!)
I am the named person on the certificates
My private e-mail address is clivefarmer@sky.com
If you can help me, please contact me direct please?
Thanks and Regards,
Clive Farmer

 

[Pharaoh]

Can you let everyone know how you were drawn into this scam? That will help others avoid the same trap.

Is there a website associated with the company that got you into this mess?

Is the Frankfurt market 100% unregulated? Isn't there some sort of anti-fraud unit in the German police?

 

[Karl51]

Hello, my name is Karl, I life in Germany and like to report a scam regarding shares of Jumeirah Resources PLC. Up to now I lost about € 260.000,- and like to warn anybody here to trust anybody trying to sell shares of Jumeirah Resources PLC.
In February 2012 I got a call from a broker calling himself Michael Bosic. He announced a call of a guy named “von Adler” who offered me some shares of ACSP for € 2,- per share. They might be changed to Jumeirah Resources shares by 1:3,5. Jumeirah Resources shares were € 1,40 at this time. So I bought 1000 shares for € 2,- each. It sounded good: Buy for € 2000,- get € 4.900,-.
End of February Mr. “von Adler” called again and told me that 1000 shares were not enough for an exchange with Jumeirah Resources shares and that I need at least 10.000 Jumeirah shares to change the 1000 ACSP shares to Jumeirah. So I bought 6.455 Jumeirah shares each € 1,20 (a total of € 7.861,).
End of April 2012 the shares were transferred to my account; after that it was impossible to sell the shares at the Frankfurt stock exchange. As “von Adler” was not available anymore I asked Mr. “Bosic” for the reason why the shares were not treatable. Mr. ”Bosic” explained to me there was a holding period for these shares and that I had to own at least 50.000 shares to be able to sell them at once. Believing this, I bought another 20.000 Jumeirah shares, € 1,20 each. Then Mr. “Bosic” explained to me that the timeline for changing ACSP shares to Jumeirah Resources had expired so I had to buy more Jumeirah shares – at least 50.000 to be able to sell them. So I bought another 33.645 Jumeirah shares, € 1,- each. The shares should be sent to my account immediately – which did not happen. Once again I tried to sell some Jumeirah shares – impossible. Now Mr. “Bosic” told me that I need to hold 500.000 shares in order to avoid the holding period. As I did not want to invest that amount, I stopped any conversation. Now a Mr. “Al Abassi” appeared, pretending to be a member of Jumeirah Resources PLC in London. He told me that Mr. “Bosic” had mixed up the numbers and that I really need 500.000 shares to be able to sell any of them – but that he succeeded to persuade the President of Jumeirah Resources PLC. , Mr. Powell, to lower this limit to 300.000 shares for me. So I bought another 100.000 shares for € 1,- each.
When trying to sell them at the Frankfurt Stock Exchange: Impossible, there is no market for the Jumeirah Resources PLC. shares. Within a period of 3 months I was able to sell about 6.000 shares. The price for 1 Jumeirah share is at € 0,10 now.
By end of this year the shares of Jumeirah Resources PLC. will disappear from the Frankfurt Stock exchange and my shares will not be worth the paper. Any written contact to Jumeirah was not answered or I was told that buying shares always involves some risks and that I was told so.
And the consequence of the story:
1. I like to warn everybody to buy Jumeirah Resources PLC. or to trust any of the named brokers.
2. I like to ask anybody who was trapped like I was by Jumeirah Resources PLC. or by the named brokers to contact me and to try together to get our money back. Maybe some of you have experienced similar scam by these brokers, maybe someone knows REAL addresses of these guys or has found a way to deal with the Jumeirah Resources guys.
Thanks regards
Karl51

 

[BigT1]

Hello Karl51 & ppiper2,
Here is a link to the German securities regulators:
Financial Regulators Gateway
.
Contact the Exchanges for guidance on this fraud.
Keep us informed of your results.
If you need assistance just ask.
.
Seriously sorry for your losses,
.
Anthony Ingrassia, CTA
NFA ID#: 0278164