Caught in Vitala’s scam spiderweb

Caught in Vitala’s scam

The first striking remark is that although Vitalagroup scam company advertises ” no upfront fees” , contracts ( here below copy of the financial agreement for Maghreb inbox plant ) state – mobilisation fee ( whatever that means)  will be 35% of the total contract fee of 398 000 US$

WAOW ! Expensive for a “no upfront fee promise !

vitala  scam application form pretending "we charge no upfront fee"

vitala scam application form pretending “we charge no upfront fee”

In fact, Big Bad Wolf Vierich astute trick is to charge these fees for ” feasibility studies. Now remember Big Bad Wolf Vierich’s Vitala group states: no loan will be asked for  before studies are double checked by Vitala Group ! 

This is how and why they capture customers, luring them into thinking the  Vitala feasibility Studies will be of such a good quality that they guarantee the loans will be automatically accepted but the banks.

As explained in our previous article here,  this condition should be considered as perfectly illegal ( in french, this what is called a not written deemed  Clause in a contract, clause réputée non écrite), because Vitala group can not be both judge and party.

maghreb-inox-payments-dates-algeria-steel-plant-saad-boudemagh-5

“no upfront fee” Maghreb inox payments scheduled by Vitala Group international scam Company and Big Bad Wolf Vierich conman, scamming Saad Boudemagh Group

vitala-contract-fee-algeria-steel-plant-saad-boudemagh-6

details “no upfront fee” Maghreb inox payments scheduled by Vitala Group international scam Company and Big Bad Wolf Vierich conman, scamming Saad Boudemagh Group

magherb-inox-vitala-scam-group-saad-boudemagh-victim

Maghreb inbox Vitala scam group agreement ripoff versus Saad Boudemagh group

So as explained in our previous article, Vitala  and Saad  Boudemagh’s Group  sign a contracts on december 2014,  for Algeria RELIZANE  MAGHREB INOX PROJET plant and  for Ouargla cattle farm.

And  from this very minute, Big Bad Wolf Vierich keeps insisting on the facts that only documents approved but his team can be sent to lenders, because vitala group will stand as a backup guarantee. THIS IS THE VITALA SCAM SPIDERWEB

Well one should also notice this line in the contrat : Vitala should never be a partner… but as the story goes it did indeed become a partner later on ! Breach of contract !

Algeria steel plantSaad boudemagh : Vitala-cannot be a partner

Algeria steel plant by Saad boudemagh : Vitala-cannot be a partner`

 

23/12/2014 : Ouargla  signed contract specificly insists on the fact tant Big Bad Wolf Vierich will finance the project before october 2015, prove idea the loan is accepted by Algeria Central bank.

financial agreement Ouargla vitala scamming Saad Boudemagh's group

financial agreement Ouargla vitala scamming Saad Boudemagh’s group

here below, again, you can check that Vitala group scam company  “no upfront free” is indeed the equivalent of 169 000 US$ contract fee + 7 X 44 000 US$ monthly fee

Ouargla contract Vitala scamming Saad Boudemagh fees and charges details

Ouargla contract Vitala scamming Saad Boudemagh fees and charges details

29/12/2014 : Big Bad Wolf Vierich insists he wants to add more land to the Ouargla  project

31/12/2014 : Saad Boudemagh’s Group sends press releases about the difficult situation in Ouargla, farm land wise.

06/01/2015 : Saad Boudemagh’s Group underline how urgent and important it is to respect deadlines for the loan.

09/01/2015 : Saad Boudemagh’s Group receive first invoice from vitala Group

12/01/2015 : payment of the first invoice is confirmed by Gibraltar bank on the personnel account of Wolf Vierich

Then months after month  payments are done on Vitala Group international scam bank account.

11/05/2015: Vitala Group proposes to become legal advisor for the Ouagla project, just  as thyy did for  Maghreb Inox.

30/09/2015: Vitala Group scam company ask for a certification  of Mr Boudeamgh’ s personal fortune, though they insist on their website FAQ that this will never be asked for.

10/09/2015:  Saad Boudemagh’s group decides to stop all negotiations and work with vitala group international scam company for  MAGHREB INOX and Ouargal Farming project

Then follows a long and cumbersome list of negotiations which finally ended for Saad Boudemagh’s Group loss of 1.1 millions US $, which lead to the denunciation of Vitala Group Scam in front of Algerian authorities

All ot  the feasibility Studies  provided by Vitala Scam Groupo soon appeared to be complete unprofessional and useless

 

 

 

deadline were never respected

27/08/2015 :  Saad Boudemagh’s Group and insistedtaht october 2015 was definitely deadline to stras the works  and they had put   700,000, 00 US$ of their own money in advance of the loan witch was suppose dot arrive in december

02/09/2015 : Saad Boudemagh group asks Vitala how come all the proposed loans were croockery.

 

10/09/2015 : Vierich declare he is wealthy ( mind you ! ) ; Vitala sends another fake loan proposal also crockery .

Here below copies of the accountant study demonstrating that Vitala Groupo feasibility studies if full of inaccuracy, making them absolutely unreliable.

Remember that Vitala has charged  the equivalent of 169 000 US$ contract fee + 7 X 44 000 US$ monthly fee for that useless work

feasability-ouargla-inacuracy-vitala feasibility-ouragla-croockery ouargla-vitala-inacuracy-corp-production viatla-inacuracy-expertise-memorandum vitala-expertiser-innacuracy-budget-ouargla vitala-inacuratcy-expertise-accountant-conclusion-vitala-is-a-scam vitala-inacuratcy-expertise-fake-inflation-algeria vitala-inacuratcy-expertise-follow-up-2 vitala-inacuratcy-expertise-follow-up

 

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