False billing

False billing – the term refers to a wrongful illegal request for payment, usually not towards the creditor which initially should be legally entitled to receive the debt. There are a lot of examples in the overseas property investments, where this has been done by property agents to request payment of installments on property purchases, not directly to the developer who has signed the contract, but in their own (or 3rd parties’) bank accounts. The reason for such illegal request and the goal of this financial fraud is to hide the tracks of the money and to exclude any legal liability of the developer who obviously has not received the money, to return these funds back to the buyers in case of non-performance.

See also http://www.bulgariandeals.com/viewforum.php?f=6&sid=e511dfa730abf456567771d9b7b87cb8

Posted in: F