- 10 -
guarantee and statement from them assuring me that it
can only be exposed or converted at my written
approval. If this is not possible, have funds returned
to me immediately. Remember, I was supposed to be the
president of the company.
By telefax dated April 14, 1992, from Brian Wilcox, James was
informed of the following:
As you are aware Jim, the whole operation was based on
the ability of the Swedish Group who consistently told
us that they had in their control a number of IL 76
aircraft. The money you were so kind as to invest in
Quotum International was, as I understood it, to secure
these planes once and for all through the Swedish
Group.
After a number of weeks with Mike out of circulation in
Russia it became apparent that Jens and his partners
had as much control over the IL 76 planes as Tom and
Jerry have over the world economy. Unfortunately a
great deal of money was spent chasing non existent
aircraft.
I would like to remind you that we do indeed have a
contract between the Swedish Group and Quotum
International and as far as I can see, they have not
contributed in any way to the current planes for which
we are negotiating. I think a serious discussion will
need to take place in due course. I do not like to see
people’s money being thrown away and as you know Jim it
has been extremely difficult for us to hold a deal
together with no financial resources.
The status on your funds is as follows:
USD250,00[0] was put on insurance and was energised on
the 4th January after we received two serial numbers
from Jens. At this time the Swedish group said that
they were in possession of two IL 76 aircraft and that
we would have to insure them to fly them out of Russia
into Sweden. It also meant that we could move forward
with the re-finance funding.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011