in China, UK, USA

Asia Beijing Corporation is running a recovery room scam, targeting Bar Works victims

Asia Beijing Corporation is cold calling victims of Renwick Haddow’s scam, Bar Works. Asia Beijing Corporation claims to be able to “exchange the toxic asset” for shares in Ant Financial Services Group. Of course, Asia Beijing Corporation is running a ridiculously obvious recovery room scam.

We’ll look briefly at Asia Beijing Corporation’s recovery room story, followed by the red flags raised.

Asia Beijing Corporation claims to be “involved in the preparation for the eventual listing on the stock exchange in Hong Kong or the United States of Ant Financial Services Group/Alipay”. Asia Beijing Corporation tells Bar Works victims that Ant Financial needs UK individuals as shareholders so that it can list on the London Stock Exchange.

“That is the reason why,” Asia Beijing Corporation writes in an email follow-up to its cold calls, “Asia Beijing Corporation is interested in exchanging your investment from you for a small profit in exchange for shares in Ant Financial Services Group/Alipay at no additional cost to you.”

Obviously, this is all nonsense.

Here are Asia Beijing Corporation’s red flags:

Asia Beijing Corporation is cold calling Bar Works victims

red flagHow does Asia Beijing Corporation know who has invested in Bar Works? The answer is that the names are on a “sucker list”. These lists consist of names, addresses, phone numbers, and background information about victims of scams.

Boiler room operations collect details about the people they have scammed. Scammers sell this information, called “sucker lists”, to other boiler room operations.

Asia Beijing Corporation does not appear in a Google search

red flagA search on Google for “Asia Beijing Corporation” gives no results. And a search for 亚洲北京公司 (Asia Beijing Corporation in Chinese) gives only eight results, none of which shed any further light on the company.

That’s pretty strange for a company that claims to have been founded more than 20 years ago.

It’s even stranger for a company that claims to be involved in the listing of Ant Financial Services Group.

Ant Financial is the biggest financial technology company in the world. There are more than 60,000 news stories about Ant Financial listed on Google. Yet not a single one mentions Asia Beijing Corporation.

The company’s website is obviously fake

red flagA quick look at the company’s website ( reveals beyond reasonable doubt that Asia Beijing Corporation is a scam.

The website states that,

Based in Beijing, Asia Beijing Corporation main focus of business since formation in 1997 has been in the procurement of mergers and acquisitions consulting, merchant banking services, real estate investments linked with corporate finance options and solutions along with legal, fiduciary and structural products.

But the website provides no information about what the company has actually achieved, which corporations the company has worked with, who formed the company, who is on the company’s board, anything about the company’s history, or any annual reports.

The company’s website was registered in October 2016. Which is peculiar for a company that claims to be more than 20 years old.

The website includes a photograph of three men in suits, giving the distinct impression that these people are employees of Asia Beijing Corporation:

In fact, it is a photograph of Cui Tiankai, China’s Ambassador to the United States, at the United States China Business Council in June 2013.

Asia Beijing Corporation doesn’t seem to know when the company was founded

red flagOn its website, Asia Beijing Corporation claims to have been founded in 1997. But an email sent out as a follow-up to a cold call, Asia Beijing Corporation attached a Chinese Business Licence which states that the company was founded in 1995 (click on the image for a larger version):

It’s slightly out of focus and difficult to see, but Asia Beijing Corporation provides a translation:

Date of Establishment: April 12th 1995

Incidentally, the Business Licence gives the name “Roger Green” as the legal representative of Asia Beijing Corporation. But a search on Google for “Roger Green” Beijing gives no relevant results.

Asia Beijing Corporation claims to be an agent for Bar Works Management Incorporated

red flagAlso attached to the follow-up email is a letter supposedly from the China Securities Regulatory Commission to Asia Beijing Corporation, dated 5 October 2017. The letter is gibberish.

It starts by quoting from China’s Securities Law. Specifically By-Law 17, Notice 23. But a search on Google for “By-Law 17” Securities Law China gives no relevant results. Neither does a search for the first sentence of the By-Law.

The letter then quotes “a letter of confirmation from the American regulators with respect to your company’s takeover of Bar Works Management Incorporated”.

There is a large, glaring problem with this. In October 2017, when the letter was supposedly written, the US Securities and Exchange Commission was suing Bar Works and Renwick Haddow through the New York Southern District Court.

Why would the SEC allow any company (let alone Asia Beijing Corporation!) take over a company that it is pursuing through the courts?

(Last week, Judge Lorna G. Schofield, in her final judgement, imposed penalties of more than US$83 million against Bar Works 7th Avenue, Bar Works, Inc, and Bitcoin Store – three of Renwick Haddow’s scam companies.)

Here’s a screenshot of the letter (click on the image for a larger version):

The letter is signed by Zhui Choi, supposedly the Director of the Department of Intermediary Supervision at the China Securities Regulatory Commission.

But (surprise, surprise) Zhui Choi is nowhere to be found at the Department of Intermediary Supervision. Neither is there any trace of him at the China Securities Regulatory Commission.

If you are contacted by Asia Beijing Corporation (or any other company that claims to be able to “exchange” your investment in Bar Works for shares in another company) please report them to Action Fraud, the Financial Conduct Authority, and the Securities and Exchange Commission.


Leave a Reply

  1. @mike – Thanks for the comment. I hope you reported the call to Action Fraud, the Financial Conduct Authority, and the Securities and Exchange Commission.

  2. Now they use:

    Richard Peter Marsden

    VP, Mergers Acquisitions
    Minority Shareholder
    Director, Member Audit Committee

    Shanghai Yuan International Group
    Shanghai City Time Square Office Tower, Annex P.H.
    Huaihai Zhong Road, Luwan District
    Shanghai, PRC 200021

    Phone: +862 151 167 174
    Web: Web:

    What is the Fraud, when they not want new money?
    Why they do it?
    What is the pourpose?
    What is the damage?
    How they earn on it?

  3. But now Richard P Marsden and his side kick Jeremy now wants more money to buy more shares because you are not a majority shareholder…
    That’s how they make their money…. I just spoke to both of these guys today requesting payment to receive 2000 shares so then the final payment can be made…

  4. It looks like I have fallen for another scam, the two people mentioned, ie Richard & Jeremy got $15000 off me, I was a BarWorks investor.

  5. @Barry Simm – I’m sorry to hear this. Unfortunately you’re on what the scammers call a “sucker list”. Richard and Jeremy won’t be the only recovery room scammers contacting you. You can read more about sucker lists and recovery rooms here.

    A few years ago I wrote a post about what to do if you’ve been scammed into buying carbon credits as an investment. I know Bar Works wasn’t selling carbon credits, but the list of suggested actions still applies – particularly the last two (what not to do).

  6. I think Corserve are doing the same, with pink tickets on Prime Time.

    Dear Mr. Radford,

    I just want to inform you that the compensation process is going according to the schedule. I have personally paid out a few clients in United Kingdom just this past week but I am a bit worried because I haven’t had any news from you and your case is falling behind the normal schedule and it would be a pity you missing on this. If you need confirmation I could try to see if I can put you in contact with one of the clients that already got paid so you can share your experience with someone that has already been through the entire process in your native language. Please contact me so I know where we stand with your case.


    James May
    Senior Vice President of Accounts
    Coreserv Financial Services Inc.
    Phone: +81 6 4560 4026 Ext. 2042
    Fax: +81 6 7635 8547

  7. I believe I have been scammed. Please advise. I recognize the names Richard Marsden and Jeremy.