Reposted with different title as the original has not appeared.
I will try and keep this short.
My late father had some shares in an American company(A) which had not paid
dividends for some time and we sold the shares after he died. Now another
American firm(B) is ringing us apparently acting for a company who wants to
take it over. There had been some forward stock splits or something which
the shareholders were not notified about and we still it seems have some
shares which they want to buy. Money for nothing sounds good. Whats the
Before sending out the stock purchase agreement or contract, with details of
the transfer agent (C), B explains that for various reasons that I didn't
understand, there is a bond involved and the buyer is putting up most of the
money but I would have to contribute a certain (small)percentage also. So I
have to pay a few thousand in order to get several more thousand and then
get my few thousand back. It stinks!
Is this how the 'secondary market' usually works? B and C both have websites
but even if I had someone in the relevant US cities to see if they really
exist, how can I tell if this is genuine? B's phone number does not come up
on the usual websites for reporting scammers. If I dont sell them I will
apparently be left with worthless shares in a shell company. ( ie no worse
Since I am actually acting for my elderly mother I have to consider that she
could do with the money but we can neither of us really risk the loss of the
(reply to address is not valid)
- posted 8 years ago