The Euroasian Group of Companies
Westerly Mortgage Trust The Wentworth Foundation Wentworth, Dean Passport: E7027028 -Australia First Union Ltd (Nassau, Bahamas) The Wentworth Foundation (Nassau, Bahamas) Dean Wentworth Chadwick Corporation Ltd (Nassau, Bahamas)
BEWARE: THIS OUTFIT IS A COMPLETE SHAM
Wikifrauds has evidence of this company taking very large up-front
advance fees for loans or joint ventures that never eventuate, and fees
that are never refunded.
If you want confirmation of this scam and evidence from victims, contact us below.
Dean Wentworth is an Australian currently living in Pebble Beach, CA.with his boyfriend, Dominique Descat, pictured below. We also believe that they spend about six months a year in Port Douglas, Australia.
Introduction: Most Ponzi schemes involve
potential investors handing over money for investments on sure-fire
returns that never eventuate. For a while, the unsuspecting investor
gets statements showing their investment growth, some may even be paid
apparent dividends to keep their beliefs on a high for a while, and to
use as references for new investors. So the money pours in to the fraud
trickles out as 'dividends', and so the scheme mushrooms. But there is
nothing at all behind the company, and while it fools a lot of people
for often a long time, sooner or later it all falls over, and the
company owners have disappeared with all the money.
advance fee loan companies and scam brokers work on a similar line,
except that customers aren't investing, they
are wanting to borrow capital for projects. They are enticed into
paying huge up-front fees to get the loan process started. So a loan
applicatant pays thousands of dollars in fees, and then the snow job
loan ever eventuates, and the loan company or broker company just hang
onto the borrowers money while changing the goalposts and seeking
further information from the client for as long as possible to stall
proceedings. A well rehearsed trail of excuses continues until the
client gives up. It is always then too expensive to recover fees
legally as most deposits have been made to an overseas 'corporation'
which always seem to be registered in the Cayman Islands, Bahrain,
Vanuatu, Costa Rica or other such 'tax haven' countries where the
pursuit of refunds becomes impossible. A
"Nigerian" style Ponzi scheme.
when a client does jump up
and down and demand their so-called "refundable" fees be returned,
they inevitably are told that there will be break costs and charges or
other fees that will (or have already) been incurred by the lender and
therefore cannot be refunded. It is all hidden away in the fine print
of the initial application documents.
A TYPICAL SAMPLE OF THE OFFERING:
Program SC1 Loan Fund
Other references Wentworth, Dean Passport: E7027028 -Australia First Union Ltd (Nassau, Bahamas) The Wentworth Foundation (Nassau, Bahamas) Dean Wentworth Chadwick Corporation Ltd (Nassau, Bahamas)
Possible Associate: Mr Vincent Chow
A United Kingdom based Fund.
Suitable for completed and to be built, projects.
First charge over the Project
Cash Deposit (The Sting) --->
12% of the loan sum must be deposited with the Lender
for the first year of the loan at which point it will be deducted from
the principal leaving 88% owing. Euroasian is generally able to assist
the Applicant to borrow the major portion of this Cash Deposit.
Euros and USD
Up to 15 years
Currently 4.5% to 6.5% fixed for the term.
Loan to Value Ratio
Up to 100% of cost.
will take a 60% equity position during the term of the loan which is
returned to the Borrower upon loan repayment. Lender does not require
to share project income. Therefore the Borrower has effectively raised
100% of the project cost without having to share equity.
company has very recently been given the opportunity to refund a huge
up-front fee and will not do so. Details will be published in coming
days if this refusal continues.
If you have further information you would like to share, please contact:
The following is a lift-off their webpage. Pasted below that is a
screen print from the Hong Kong Companies register. It clearly has no record of any Westerly Mortgage Trust
Westerly Mortgage Trust
substantial Hong Kong based lending and investment Trust that has been
established for many years. Dean Wentworth is one of the Trustees.
for construction projects.
charge over the Project plus an equity share (see below).
of the loan sum must be deposited with the Lender for the term of the loan,
repayable upon repayment of the loan. This can be in the form of cash or a
bankable asset. Euroasian is sometimes able to assist a Borrower to raise the
to 15 years.
interest as the Lender will hold equity in the Applicant�s
to Value Ratio
to 100% of cost.
but lower in the event the Applicant has existing equity in their
100 million or if a Euro loan is preferred, EUR 100 million.Smaller
loans will be considered on a case by case basis.
Applicant is required to lodge a current Business Plan and to pass Compliance.
Euroasian makes no due diligence, meeting or travel related charges but 3% of
the loan sum is paid to Euroasian at closing, deducted from the loan
meetings are held in Euroasian's San Jose office.