anyone heard of USIF real estate?

[A.A]

Help Needed

I have been here for some time but have never speak a word. Actually my mom have also bought some shares some 40 years ago. What worse, is that she didn't recall having any stock certificate from the broker back in the time. Throughout the years, she kept receiving letter from USIF but didn't know what to do. Recently she got the letter offering to buy her shares too. And the deadline of acceptance is March 31. I would be much grateful if anyone have an idea whether it would be impossible for my mom to sell the shares if she never get the stock certificate? And, would it be a good idea to accept the offer? Honestly, I also feel a little weird after reading the letter, mostly because I don't think any company will be interested in buying the shares of such a company and it is also rather unbelievable that such a company can survive for more than 40 years, while things just happened to be able to solve NOW?

 

[Barbaro]

USIF Real Estate - Lost Stock Certificate?

I got the same problem...
The shares were exchanged from my investment in a unit trust long long time ago and I can't even remember the whereabout of the stock certificate.
By end of 2007, I received a letter from SPD Bahamas Ltd telling me that they would offer to buy my shares at $0.2 each but I need to return the stock certificate to them by March 31, 2008.
Just wonder anybody knows how I could have the stock certificate re-issued or sell the shares to them without the stock certificate?

 

[Mandros]

USIF REAL ESTATE Update

Hello, I setup a website some time ago to try and find more people and information about USIF REAL ESTATE. My site is: http://www.mandros.nl/pages/financien/usif-real-estate.php . If you have info or want to be informed about updates please mail your email adress and I you want the number of Shares you have.

I will try and setup a mailgroup with these email adresses and keep us grouped and try to make some money out of the investments made by our parents or grand-parents in de 1960's.

 

[villaF]

address

I got a letter dated Dec. 2007

There's an address.

Fidelity
51 Frederick St.
p.O Box N-4853
Nassau, The Bahamas.

Hope it helps.

 

[boomtown]

This is a very interesting thread.

Does anyone know what this supposed asset of $5 million is? Lets play a little game.

Lets just pretend that this asset is $5 million of raw land in the Bahamas. And also lets pretend that it is carried at book value on the balance sheet of USIF. Book value meaning the acquisition cost of the land in 1972 (Im making that date up).

Now lets pretend that the $0.10 valuation of the USIF shares is based on that book value (which means there are 50,000,000 shares outstanding) (ie $5 million at 0.10 each seems to indicate 50 million shares, give or take).

Now lets pretend that the actual market value of the raw land in the Bahamas (calculated on 7% compounding of $5 million from 1972 to 2008) is $57 million.

Now lets pretend you can buy the shares of USIF for 20 cents each. 50 million times 20 cents is $10 million.

Now lets pretend that you manage to buy those shares for $10 million. Hmmm smells like a $47 million dollar profit to me.

Anyway that was just for fun and no one should take this seriously. Sure would be interesting to know what that $5 million asset is though.

PS. you might be able to find out alot more about this company by contacting a Bahamas law firm and getting them to do a search of company registers for you but it would probably cost you a couple thousand dollars and isnt something I would be inclined to do myself.

 

[UniversalMind]

Roywest Trust Corporation

I worked for Roywest Trust Corporation (Bahamas) Limited in the 1980s and may be able to provide information of general interest.

Out of 3,000 accounts at the Nassau, Bahamas branch there was only one
corporate depositor, OSMIA - the Overseas Shippers Marine Insurance
Association. Try googling it - you will find NOTHING. Despite
apparently not existing, in 1984 it had £3 billion on deposit (US$4.5
billion at then exchange rates). It undoubtedly has ten times that - at
least - now.)

As for the other 2,999 accounts they all belonged to private, resident
citizens of the UK. For example, Mr Nicholas Benson, a member of the
tobacco family who, along with hundreds of other members of the family,
had his own £100 million trust fund. There are hundreds of member of
the Guinness family with similar arrangements. No deposit was smaller
than £100 million.

That is what the media is hiding. They present tax-avoidance as a
purely corporate phenomenon. But the corporations (including
Halliburton) are ultimately all owned by private UK citizens - via
proxy investment accounts at RoyWest, channelled through Merrill-Lynch
and Goldman-Sachs in NYC.

I should add that the info I have provided applies only to the
Nassau, Bahamas branch of Roywest, which has other branches that I know of in:-

Jersey
Guernsey
Isle of Man
Bermuda
Freeport, Bahamas
British Virgin Islands
Turks & Caicos Islands
Cayman Islands

Roywest's name derives from its original owners:-

Royal Bank of Canada
National Westminster Bank

NWB, and therefore Roywest, is now owned by the Royal Bank of
Scotland so, as you can see, it's now a 100% right royal affair.

NWB also owns Coutts, the private bankers of the Queen of England,
and the nuke-proof vault where the Crown Jewels are really hidden
lies beneath a branch of NWB on London Wall.

Theo

 

[krishan]

anyone heardof USIF real estate?

My dad owned 3,582 shares in USIF real estate. He bought it in 1973. Died in 1991. For 18 years I was in the dark. One opening and going through his files, I discovered his investments. I have sent an email to [email protected] . I will keep informed if anything crops up. Please keep this thread open. The internet showed me the way.