Panama is host to a lot of seminars on any offshore financial-related topics.  This has become a joke for Panamanians who know exactly what is happening, and it is usually too late for the attendee to realize that he has been duped.  Extra care should be taken when these seminars are held in other high-risk countries such as Mexico.

Think of These

This should serve as a wake-up call for those who get carried away with false promises of unimaginable profit that could be gained from seminars aiming to promote offshore banking, offshore trusts, offshore foundations, and even offshore asset protection.  The prices one will have to shell out just to gain admittance to these could be enough to cover the bill for reputable law firms had he sought their services on asset protection and asset management.  The other attendees may be in cahoots with the seminar organizers as well where they share the profit from people like you they’ve fooled into registering for their seminars.

Seminars and presentations like these will have individual speakers flaunt gains on their investment account of as much as 100% on an annual basis.  But the question is, if they are really that rich and capable, how come they still attend seminars like these?  Second, how can this person afford to go around these trainings while no one attends to his business?

The seminars usually boast of scams on trust and third party banking where the investor usually ends up with nothing.  The costs they would quote for formation of corporations can be three to five times than the usual amount.  Can you imagine the profit they rack up with these scams?

Credible…Not!

In most instances, seminar organizers will publish some newsletter just to establish some sort of integrity and good reputation.  But what they are are really just expert marketers who know how to sell their products with persuasive words and actions.  They would come up with scam services like asset protection organizations, and these services usually require a lot of money.  These asset protection structures though were applicable before 9/11.  But with new laws and bank regulations after that, bank secrecy and privacy laws are no longer made possible, and the individuals who don’t know of these changes suffer.

The success of these seminars stems from the converging attendees to these events who cough up a good amount of money just to get a seat.  They are then persuaded to try the stuff the speakers are selling them at overpriced amounts, and it is common to hear stories of individuals getting jailed for fraud after a string of seminars they have organized over several months and years.