Garrison Securities SA; A Fraud Group Live and Well In Switzerland

Garrison Securities in currently under criminal investigation in Switzerland and the United States of America due to an organized operation set up on defrauding clients via an upfront fee scam.

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 1, 2011 --Garrison Securities SA based in Lausanne Switzerland and is compromised of an organization compromised of Dan Terrry (CEO), Nick Fox (Legal and Administration), Paul Jordan (Executive Director and Owner), Richard West (Executive Director), Jason Mitchell (Business Development), and Joanne Dolan (Executive Assistant) make up this fraudulent organization. Garrison has created a systematic fraudulent business model. The scheme is based on presenting an applicant a collateral provision program that will provide a bank guarantee in order to raise a credit line. Garrison will provide you an Offer of Collateral Provision after paying their fee of 150,000 - 300,000 Euros or more. Their application is based on the client providing them with an approved credit facility and an exit strategy based on the return of the bank guarantee (collateral) at the end of its term unencumbered. The normal exit is via a take-out loan, IPO, or another investor taking out the issued bank guarantee securing the credit facility.

However, the fraud scheme is in the fact that Garrison will then tell you after you send in your upfront fee that they require that the bank issuing your credit facility provide them a "counter guarantee". The bank is required to guarantee the return of your bank guarantee that is being used to secure the bank’s credit facility. The problem is that NO bank will accept a bank guarantee if they have to guarantee its return. What covers their risk? How are they protected in your transaction? The bank guarantee becomes and is ultimately worthless. Garrison Securities and its CEO Dan Terry use this loophole to make the case that you as the client have not performed and based on this fact, they do not have to return your upfront fee due to their non performance. They are fully aware that it is impossible for you to obtain a credit facility or ever complete a transaction with them since banks will not accept a bank guarantee that requires a counter guarantee. Also, by them only emphasizing this in the final stages of your transaction, the client is made aware when it is too late and after upfront fee payment is made.

Another fraudulent tactic used by Garrison is the fact that they cannot and will not confirm a collateral provider or collateral. Client is told to seek out a credit facility from a bank based on receiving a bank guarantee from a top rated bank facilitated by Garrison. In addition, Garrison has approved the client and informed the client that they have been approved by their collateral provider and to pay an upfront fee for the arrangement. However, the client will never receive confirmation of a bank guarantee, collateral provider, or collateral. Once again, Garrison will use this as a scam tactic in order to block the client from performing and securing a credit facility. Garrison and its CEO Dan Terry will then use this fraudulent scheme in order to claim the client has not performed in order to keep the client's upfront fee payment. They will then use their lawyers to ask for arbitration if you continue to demand your money back. In arbitration they will indicate that you have not performed because you were unable to guarantee the return of the bank guarantee or to obtain a credit facility.

In summation, Garrison's systematic scam and fraudulent operation is in creating a gray area by misdirecting and misinforming the client. I advise anyone who is engaged in any transaction with this organization to immediately cease and desist and report them to the following office below as a criminal file has been opened up concerning this group;

Office du juge d'instruction cantonal
District magistrate
Rue du Valentin 34
CH-1014 Lausanne
Tel. +41 21 316 64 70
Fax +41 21 316 64 90
info.ojic@vd.ch
http://www.vd.ch/fr/autorites/ordre-judiciaire/juge-dinstruction-cantonal/

More information can be found online at http://www.ripoffreport.com/financial-services/garrison-securities/garrison-securities-sa-dan-te-a6c3c.htm

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