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 !
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.
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 !
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.
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
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