Attorneys, Beware! Old Fraud Being Circulated

Attorneys should be aware of an old fraud being re-circulated by fax and e-mail.

Here is how unsolicited letter goes:

My company, Specialty Metals of South Africa, seeks to hire you as a payment agent.

We have $455,000 in receivables due from a Malaysian smelter.  The smelter requested that the payment be arranged with a New York agent.

Will you agree to act as our agent?  We will pay you a good per centage of the transaction.  Please fax or e-mail your retainer agreement.

As I have reported in prior faxes, this reeks of fraud.  It is a variation of the  fraud where the debtor sends a phony check to the lawyer.  The lawyer then sends the funds to the client.  The lawyer does this before discovering that the check is phony.  It is too late.  The lawyer’s bank charges back the amount to the lawyer.  The crooks get the money.  The attorney is stuck.

Proceed at your own peril.

Mark E. Seitelman, 11/7/11,


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