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Saturday, January 26, 2013 3:04:58 PM
National Wealth International Ltd. has provided Bergamo Acquisition's wholly owned European subsidiary cashed-backed securities consisting of three separate tranches of 500 Million US Dollars issued through HSBC Bank, one of the world's largest banking and financial services organizations. These funds will remain on deposit in accounts held by Bergamo Acquisition's European subsidiary.
According to the language of the first sentence, all NWI provided (assuming NWI is real) is "cash backed securities", not cash, just cash backed securities. Somehow between the first sentence and the beginning of the second sentence the "cash backed securities" became "funds". How? When? Where?
The "cash backed securities" are as good as cash line isn't true, it is NOT the same as money in the bank. US Capital issued a "cash backed" SBLC that was worthless but touted by BGMO as being as good as cash. Check with HSBC, as I have, they do not issue these types of securities on against client funds held on account.
Just keeping 'em honest!!!
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