Kantrowitz, Goldhamer & Graifman, P.C. Announces Investigation of India Globalization Capital, INC. (NYSE AMERICAN: IGC)
NEW YORK, Oct. 30, 2018 — Kantrowitz Goldhamer & Graifman, P.C., a firm with a nationwide consumer fraud and securities fraud class action practice, has been following the events concerning India Globalization Capital, Inc. (“IGC” or the “Company”) for a number of months and is now actively investigating potential securities fraud claims on behalf of shareholders of IGC resulting from allegations that IGC and/or its executives issued materially misleading business information to the investing public. The NYSE American LLC has announced on October 30, 2018 that “the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of India Globalization Capital, Inc. — ticker symbol IGC —from the Exchange. Trading in the Company’s common stock on the NYSE American will be suspended immediately.”
If you purchased India Globalization securities and would like to discuss your legal rights and options, please contact GARY S. GRAIFMAN, ESQ. at Kantrowitz Goldhamer & Graifman, P.C. toll free at (888) 752-5018 or firstname.lastname@example.org.
Bergen County matrimonial attorney Paul Goldhamer, B.A, J.D. Esq. is a co-founder of Kantrowitz, Goldhamer & Graifman. In addition to practicing family law, Mr. Goldhamer keeps a busy schedule of teaching, lecturing to professional organizations, making radio and TV appearances and providing free legal seminars to the public in NJ and NY. In 2014, Mr. Goldhamer was selected as a “Super Lawyer” by Superlawyers.com.
by Paul Goldhamer, Esq.
Recently a law firm that we do business with was almost the victim of a wire transfer scam. Fortunately for them, KGG picked up the scam being perpetrated on them. This is how it worked:
Our email system is heavily protected, as are our Internet connections. We sent wire information for the settlement of our client’s $500,000 case to the law firm representing the insurance carrier.
The other law firm’s email was hacked and our email to them was picked up by the hackers. The hackers altered the wire information, telephone & fax number and email so that the receiver could not properly respond to KGG. We routinely call to follow up on wire transfers and ask for a copy of their wire instructions. Upon seeing the wire instructions they were acting upon, we realized the email had been altered. The other firm was on the verge of wiring $500,000 to a an account in North Carolina, which undoubtedly would’ve been immediately transferred out of the country.
Similar scams occur all of the time. On the very same day as the above incident, one of our clients noticed an $18,000 debit in his checking account for the purchase of art in Arizona, also by wire transfer. Upon notifying the bank, they discovered that his email had been hacked and the scammers were using his account to instruct the bank to wire money to purchase items in Arizona. Because this was discovered so quickly, the hackers upon trying to pick up the merchandise were arrested together with an employee of the store, who was in on the scam.
You must double check anything and everything that’s really important. You must review your monthly credit card bills and your bank statements religiously. To protect yourself, any peculiarities must be reported to the credit card company or your bank immediately.
We at KGG diligently look after our client’s needs. Call us any time with your concerns. We are not just lawyers, but ‘Counselors at law’. Helping people is our business.
Bergen County divorce attorney Paul Goldhamer, B.A, J.D. Esq. co-founded the law firm of Kantrowitz, Goldhamer & Graifman in 1975. Mr. Goldhamer was a pioneer in offering free legal seminars to the public in NJ and NY. In addition to practicing family and matrimonial law, he maintains a busy schedule of teaching, lecturing to professional organizations, and appearing on TV and radio. Mr. Goldhamer was chosen as a “Super Lawyer” in 2014 by Superlawyers.com.
by Paul Goldhamer, B.A, J.D. Esq.
Watch out for scams:
A couple of weeks ago I sold a few items on Craigslist. One item was an old electric guitar for $200.
Whenever you sell something on Craigslist, you should generally only do it for local delivery, unless it’s a very small item. Never part with the item until you’ve received payment — and that means the cash. You really shouldn’t accept checks, but if you do, you must wait 30 days for them to clear. I know…banks say they clear items in three days, but banks will reach back into your account and take the money back out on a check which is no good. That is written into your deposit agreement. Even though banks are supposed to figure out if the check is bad with the 10 days, banks really can’t do it in this modern economy.
How to Spot Craigslist Scammers
Warning Sign #1. Immediately, I received a text (instead of a call) to the number listed saying they wanted the item and to hold it for them and pull it from the listing immediately. (I instantly knew this was a scam. A real buyer would have called. It is a lot easier to pull a scam in writing because you cannot get caught off guard by an offhand question, and if you have an accent you cannot hear it in a text).
Warning Sign #2. Immediately and unsolicited, he told me that he had a broken leg and was in the hospital, and his wife was nine months pregnant, but she would pick up the item. (Getting you in a sympathetic mood).
Warning Sign #3. They texted that they wanted to pay by check. I told them ok, but the check would have to clear before I sent anything. They said they would add $80. For my trouble. (This guitar can be bought new for $290. Another red flag and again appealing to one’s innate greed).
Warning Sign #4. In the texts, they invoked G-d’s name several times, with a lot of “G-d bless you”s and other religious stuff to give the impression that they were a G-d-fearing person.
Warning Sign #5. Another text came saying that the wife was now also in the hospital (remember … she was 9 months pregnant!), and he was still in the hospital and they would send a carrier to pick up the item. (The item was not identified, because they are sending out hundreds of these texts). Again, a lot of “G-d bless you”s and words invoking higher powers.
Warning Sign #6. Unsolicited, without a letter or note, an $1805.09 check arrived from a third-party payor, special delivery from a Florida UPS office. The check was on an out of state California bank drawn on some legitimate sounding motor sales company. When you looked the company up on the Internet, it appeared to exist, but when you called the telephone numbers, there was no working phone. At that time, I did not really connect the $1805.09 check to the purchase of the $200 guitar. Remember, at many businesses we receive scores if not hundreds of checks per month and no one person knows all the vendors or clients. (The large and odd amount of the check is designed to disarm you and appeal to one’s innate greed.)
Warning Sign #7. A text arrives from a different telephone # asking if I received a check. It was a different text number than the number that made the inquiry about the guitar. It asks you to confirm you received a check. There are no identification names, numbers, or items.
Then I received an inquiry from the original number asking me to forward the goods to them. I told him I had not received payment for the goods. They immediately became incensed because they knew I had acknowledged receipt of the check to the other number. (They use a 2 prong attack to cause your guard to slip).
I denied receipt of the check for the goods and they immediately became hostile and threatened criminal action, etc. I invited them up and to bring cash. They threatened FBI action. I told him the FBI office was right down the corner and we could all go there together. They then went into a myriad of unhappy, swearing and foul language…all from the God-fearing group.
The next step they are hoping for is that you will send the item when the carrier appears, but they also tell you that because of all the hospital bills they need the change from the purchase overpayment immediately. The sucker sends the change and a month later their bank tells them the $1805.09 check is no good!
6 Rules for Avoiding Craigslist Scams
- Never pay money on a possible bad check;
- Never sell anything and take a check until it clears 30 days;
- Whenever you do not see a live person, be suspicious;
- When the sappy story starts, stop listening;
- Never be enticed by your own greed;
- If it seems too good to be true, it isn’t.