Originally Syndicated on June 13, 2024 @ 6:01 am
Yield 4 Finance claims to be a Dubai, United Arab Emirates-based financial company.
Nonetheless, they have been the target of scam complaints. Customers claim that Yield 4 Finance operates a BG SBLC fraud.
Business Bay Suite 2903-2902, The Prism Tower, Dubai is where they have their office. In the same way, their phone number is 971-4570-6231.
I cautioned other companies and customers about this company due to the overwhelming volume of complaints.
The best course of action if you’re thinking about working with Yield 4 Finance is to read the following reviews.
They will provide you with an impression of what working with them is like.
Reviews of Yield 4 Finance: What People Say
Online, I discovered a thorough complaint about Yield 4 Finance.
The complaint states that when the reviewer contacted the company, they were provided with a draft of the MT760.
The advising bank, the issuing bank, and the beneficiary were stated in the draft.
The reviewer thought everything was legitimate at that point. The reviewer did not, however, desire the issuing bank Yield 4 Finance Dubai to be identified.
They therefore asked the Dubai company to switch the issuing bank. Yield 4 Finance concurred.
They promised to include the modifications in the final contract.
The reviewer then received an invoice from the finance firm that needed to be paid. The payment for a Standby Letter of Credit was sent by the reviewer.
But after the reviewer moved the money, everything was different.
The final contract did not list the advising and issuing banks that they had agreed upon.
Coris Bank International, an unrated bank, served as the issuing bank for Yield 4 Finance.
Unrated banks are small or nonexistent asset-holding financial institutions. These assertions lack the means to support their letters of credit.
The reviewer was thus unable to receive the SLoC funding.
Yield 4 Finance did nothing in response to the reviewer’s complaints. The reviewer now has nothing more than a worthless bank note since they declined to give a refund.
Sanjeev Chada’s Fraud:
I’ve included a discussion about Yield 4 Finance from an online forum here.
A user has posted an email they got from this company. The financial services firm states in this email that it provides standby letters of credit, bank guarantees, demand guarantees, and letters of credit at sight.
Additionally, the email from the firm states that they will want your documents first, and then they will provide you with a draft copy of the instrument to examine.
They will then request money before continuing.
Before you get any money, they want you to pay them.
One user responds by calling the company a bunch of con artists. For your money, they take and give you worthless LCs.
Furthermore, Yield 4 Finance starts to make excuses and request further funding when you ask them to resolve the issue.
Regarding the Yield Group of Companies: Provider of Trade Finance Solutions
The corporation doesn’t disclose any information about its leadership, despite its claims to assist enterprises in obtaining millions of dollars in finance.
This is strange.
They share no images, just a long list of names. Generally, a business that offers millions of dollars in finance to clients would aim to foster confidence through openness.
However, Yield 4 Finance withholds important details about its personnel.
Sanjeev Chadha is the chairman of Yield Group of Companies, according to their website.
There is no information on his career or educational history available on the website. It merely highlights his abilities and states that he routinely travels to every branch of the company.
This is how a lot of dubious businesses operate.
Another dubious “finance” company that withholds important information about its ownership is Greenfield Advisory.
Some well-known figures at Yield 4 Finance include, according to their website: Mohit Chadha, the Chief Operating Officer.
- Director of Management Vipul Chadha
- Vice President Javela Macalalad and Director Astha Sehgal
- Director Alfred Jara Ibanez
There’s a lot of information out there about this company’s CEO, unlike the Chairman.
Mohit Chadha’s residence is listed as Sahibzada Ajit Singh Nagar, Punjab, India, on his LinkedIn profile:
The company’s CEO earned a bachelor’s degree in business administration in 2016. He worked as a customer service professional for a law business for three years and as an intern at a marketing firm before he became the CEO of Yield 4 Finance.
To be sure, Yield 4 Finance may not be as trustworthy as it seems based on the CEO’s resume.
Is Yield 4 Finance Dubai Reputable?
You can’t possibly trust this company.
The business withholds all documentation of its financial activities. It also doesn’t post any images of the group that runs the company.
Dubai has several financial frauds. They should be avoided at all costs.
For instance, Russian conman Ismagil Shangareev preys on individuals in Dubai with his fictitious schemes.
Another example is OmegaPro, a cryptocurrency scammer that continues to host events in Dubai after being placed on a blacklist by numerous financial agencies.
