ASK & DISCUSS
INDEXInvestors that approached us
10 years, 8 months ago - Ryan Watson
I've got a question to ask about funding, and it's probably going to cost my relationship with the investors, but here goes.
An investor contacted my writing partner and I as he told us he had seen our work and was interested in supporting us with contacts and potentially funding. We met him today and he seems to be affable and understanding, supposedly having funded young creatives before.
I have always expected nothing and so have come to be very paranoid about this kind of thing, especially as I have never really been involved in funding opportunities, or pitched anything for that matter. While we'd like to make careers out of our work, we've always just made stuff for the love of it and on a shoestring.
The thing that's ringing alarm bells at the moment is that he and his group of investors don't have a website or online presence - all I can really find is the examples of the projects he's supported in the past. I've reached out to them too, but they could be a front for all we know!
I just want to check things out and be fairly sure that if we get involved, our livelihoods or our projects won't be compromised by some kind of scam. I realise I can't dissipate all risk as our own careers have involved leaps of faith.
So, would you run away as there's no website to speak of? What questions would you ask him? Anything you might do differently? Is this a crisis of confidence that might undercut many filmmakers in this position?
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10 years, 7 months ago - Marlom Tander
You hand over your bank details.
A little while later you get a message "oops, I transfered 2K to you in error, can you send it back please? Terribly sry and all that"
You call your bank. There is indeed an extra 2k.
Being a nice person, you send it back.
And then another 2K vanishes.
HOW IT WORKS
You sent them 2K, then they reversed the original 2k before you actually had beneficial ownership of it.
10 years, 8 months ago - Gerry Byron
If it's a scam, he will ask for some money - or your bank details so he can send you an e-payment. Give him neither.
10 years, 8 months ago - Franz von Habsburg FBKS MSc
Well it's good if you've actually met. These approaches are often only emails. You must make it clear that you only want investors NOT loans. Then if they are doing this for an arrangement fee, don't pay anything upfront but say they can deduct at source. You then gross up both sides in your accounts. Maybe they want a film credit or a tax loss? Some people do want that. If they want bank details, create a new separate one with virtually nothing in it. That way, there's nothing to pinch! Once funds are in, then transfer to another account!
10 years, 8 months ago - Adelle Filmmaker
I'm confused.... How would an e payment be a scam...?
10 years, 7 months ago - Colin Gibson
I think you should read a bit on how money works ,investment returns ,tax gains and of course money laundering remember money has no morals
Do a company directors check ,search their contact details tel number etc on web ,check out their Facebook and social media presence ,next meeting take a colleague to take notes ask directly how much money and the mechanism for delivery
Good luck
10 years, 8 months ago - Nick Hilton
The Internet is a really weird place. I've been given £thousands by people who've just seen my stuff and sent me an email. Sometimes it's a scam, sometimes it's just weird people who think that's normal.
I'd engage in a dialogue with him and try and set up a meeting. I think it's generally fairly easy to ascertain the legitimacy of someone in a face-to-face meeting. Obviously, look for previous projects they've worked on, references if possible, and try and establish that they're the real deal. What about these projects makes you think they could be a front?
Are these investors asking for anything in return from you, other than time?