What would you do in this situation?

What would you do in this situation?

Didn't find your answer?

Good afternoon,

I have a potential new client approach me and I wanted to obtain your opinions!

They have registered a Limited Company in the UK to trade marine/ship products.

The clients are a husband and wife, and are Nigerian, although reside in the UK.

The Nigerian wife, Abigail, came to my office for a meeting with her daughter.

She explained that due to their nationality, that some large corporates (such has Shell which is one of their clients) may not want to do business with them, that they had asked one of their family friends who is British to be the sole director and shareholder of the LTD.

They have asked for a solicitor recommendation to draft the agreement, whereby this friend is holding the shares on behalf of them (in trust).

In addition, they have requested to use our client bank account for payments etc. They said they were not keen on having to ask the “friend” on opening the account and also obviously being an authorised signatory on the account.

Other than performing one of the following what else do you suggest? 

http://www.experian.co.uk/identity-and-fraud/anti-money-laundering.html?...

Replies (14)

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By duncanedwards
29th Aug 2014 15:02

Not being funny
but I'd give this one a miss.

And as for putting transactions through your client account!

Thanks (4)
By ShirleyM
29th Aug 2014 15:10

Absolutely!

Run a mile.

A 'pretend' Director & shareholder, and want to use your client account? Will all the 'profits' go to the director.shareholder?

Then again, run two miles!

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David Winch
By David Winch
29th Aug 2014 15:11

Bargepole!

As in - not to be touched with a . . .

David

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By buttinski
29th Aug 2014 15:18

How many reasons

do you need, to walk away?

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By CA-London
29th Aug 2014 15:19

Thanks guys, I'm pleased you agree!

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By ireallyshouldknowthisbut
29th Aug 2014 16:03

.

Reminds me of a client I had for a short while when I started up.

Nigerian gentleman importing cars into the UK from France. 

Nice clean business (so I thought) approx 20 cars a year, so low volume high value which suits me fine.

Until I did the accounts, 20 arrived, 30+ exported and the clients could not understand why this might be a problem and I refused to finish the accounts without a proper explanation. 

About 3 months later I got a nice call from French tax authorities who were investigating them.....and I also got door stepped by our VAT office who came in for a 'cup of tea' unannounced and wanted a copy of every single letter I ever wrote to them and they wrote to me. 

I got paid upfront for that one, and I think I made a profit overall as I only did half a job and never refunded them. 

 

 

 

 

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By andy.partridge
29th Aug 2014 16:12

Nigerian

Other nationalities are also available

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By EnglandPi
29th Aug 2014 16:22

If it sounds to good to be true it probably is.

Forget it

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By Jekyll and Hyde
29th Aug 2014 22:29

refer them to a nice regional firm.....
.... of accountants. Rather than just say no, I would explain that I do not hold an active client account and perhaps they would be better suited to a larger regional firm of accountants, who would be in a better position to assist them.

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By Howard Marks
29th Aug 2014 23:08

Dr Albert Fred

That's not hubby is it?

 

If so, he emailed me earlier asking for my bank details too...

Thanks (1)
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By cparker87
29th Aug 2014 23:49

Banking services?
No.

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By Manchester_man
30th Aug 2014 11:36

Who do these people think they are?  Would common sense not prevent you from asking an accountant for such a service as can I use your client account?  

Tell them you assume they are joking!

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By pedre
30th Aug 2014 20:32

Have they also asked you for your bank account details, including 16 digit card number and 3 digit signature strip?

To echo everyone else... Run. Not worth the risk.

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RLI
By lionofludesch
31st Aug 2014 10:48

Does he .....

..... have a cheque for $2m that he needs to cash for a friend ?

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