Corporate Trade International Brokers LLC Reports & Reviews (1)
Corporate Trade International Brokers LLC Contacts
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SCAMPULSE
Scammer's address 33 South 6th Street, Minneapolis, MN 55402, USA
Scammer's email [email protected]
Total money lost $24,426
Type of a scam Travel/Vacations
Victims expressed interest and the broker, Matthew Baker (Baker), as employee of Corporate Trade International (CTI), provided a formal Purchase Offer and Resale Contract for Lodging Right and Services (Contract). The Contract was signed on February 3, 2021.
The Contract provided that the seller (Victims) pay all transfer fees, taxes, and usage fees prior to closing, which would be reimbursed by buyer at closing. An 8 percent commission fee was also required by the Contract payable at closing. Shortly after the Contract was signed, Victims were notified of a $5,703 transfer fee to be paid to the resort. First National Title, LLC, (FNT), Broker’s title company, provided wire instructions and Victims wired the funds on February 4, 2021. The trustee/agent at FNT was Tristan Casillas (Casillas).
On February 9, 2021, Victims were told that their Jalisco state tax on the transaction was $13,873.84, payable in advance. Again, Casillas provided wire instructions and the transfer was made on February 10, 2021.
Victims were then told that the 8% commission on the sale was also due in advance of closing; the amount totaled $55,039. Victims objected and refused to send the funds, stating that the commission should be paid out of the closing funds. To make payment easier, Baker broke the payment into two installments and Casillas provided wire instructions on March 2, 2021, for $35,000 and $20,039.12.
Baker’s boss, Joseph Perillo (Perillo) became involved in the negotiations as did Victim’s daughter, Laura Holquist (Holquist). Holquist researched CTI and FNT and found that they could be fraudulent organizations. She recommended cancellation of the transaction. The contract provided for a termination fee of $4,850.
Baker provided a Cancellation Agreement that Victims did not believe contained adequate protections for Victims and Baker provided an Addendum. The Addendum made clear that upon payment of the termination fee, all funds for transfer fees and taxes would be reimbursed to Victims. Victims wired the termination fee on March 15, 2021, after confirming with Baker and Casillas that the monies would be repaid immediately upon receipt of the termination payment. It was not.
Holquist was contacted on March 18, 2021, by Perillo, who provided three options to receive reimbursement of the funds. All three options required additional investment from the Victims and they were rejected. There were no further discussions.