We’ve been trying to raise about 30M for our business and so we posted our idea on those Angel Investment sites. Quite a number of people showed interest and we began the long road of negotiations, due diligence and unending questions. However there was this Thai investor (Chatchaval Bhanalaph) who was too good to be true. For starters he claimed to be a retired banker, a director in numerous companies. I tried to do a background check but there wasn’t much information about this wealthy Thai banker online which I thought was rather odd. I continued negotiations with him via e-mail and I was planning to dump the other companies as the negotiations with him was going well unlike the other’s that wanted tonnes of info like financial statements, biz plan, company registration documents…
Then it all came crumbling down when he sent me this Investment Terms document and realized I was being set as we are meant to finance the registration of the project in Thailand at our cost.
I will string this Okechuku for a while making him believe that I am just about to send them money.
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