After discussing with many of the sources. This is probably how his scam works. He would present himself as a Funder and after studying your case based on a so call “site visit” . Site visit would mostly apply to real estate projects. Which we personally feel that is necessary too for an investor to view and study the site before investing.
Readily he would agree to fund your projects. This was what exactly have happened with my sources. The MOU was done up pretty quickly in about 3 days. It is strange that he did not ask for any collateral at that specific point of time. Especially in November 2014 when he was doing his site visiting.
However, between November till March there was a lot of correspondence that funding is eminent Yet during this critical 4 months period there was absolutely no funding at sight. Everything was just based solely on SBLC. In Singapore context SBLCs is nothing more than a piece of paper. Not much of value unless monetized. There were then more emails that he needs to be here to disbursed the funds to most of the sources here.
During this period of his visit he would ask for repeatedly the same documents. Which has been already presented to him during his time in Chile. A good example would be one of the source which have already explained to him all the loans which was pertaining to the project development. Yet when he is here during 5th March to 22nd April, he claims he was not aware of all these. Clearly a lie to all of my sources.
After which, he would also claimed that since there are too many new discoveries. There would then be no funding based on that particular project mainly due to it’s complexities. Yet the intricacy of the web was and have been clearly explained to him when he was here on site visit.
A possibility to the reason why he was caught for the past 29years, maybe because the projects that wanted funds themselves were dodgy. Thus no solid reason for them to go after him. However, since we are all legitimate over here we will be clearly going after a big fat scammer like him and bring him down to his knees.
Yet it seems that now he is avoiding calls and emails chasing for reimbursement. Looks like he is going into hiding.