S.K.R.

Safekeeping Receipt = International Depository Receipt (IDR):

A negotiable, bank-issued certificate representing ownership of stock securities by an investor outside the country of origin.  An international depository receipt, or IDR, is the non-US equivalent of an American Depository Receipt.  These instruments have been used since the 1970's to facilitate international trading in securities.  The securities backing the receipt remain in the custody of the issuing bank or a correspondent [bank].

The Scam: In the swindler's world, an IDR or ADR is called a Safekeeping Receipt.  The swindler uses the term to convince you that funds can be exchanged for a Letter of Credit or PRIME BANK GUARANTEE that will be kept by the TRADING BANK (there's no such thing the way swindlers use the term).  

In return, the "trading bank" will issue a safekeeping receipt for the guarantee.  Then the "trading bank" puts the original safekeeping receipt in safekeeping and issues a second safekeeping receipt for the first one.

This is what you are supposed to receive, or you are supposed to receive a certified copy of the original receipt.  Whatever.  The swindler further tells you that you must assign the safekeeping receipt over to the swindler to obtain a loan, the proceeds of which will go into the trading program to purchase more guarantees that will be sold for profit.  

What really happens is this: you send your funds off to purchase a bank guarantee of some sort.  The funds are usually sent either to an alleged Trustee or Attorney's Account.  They may even be sent to an account in your name over which you have given the swindler POWER OF ATTORNEY.  The swindler removes your funds from the bogus account and proceeds to the nearest casino.  You are left with no guarantee, no safekeeping receipt, no profits, no money to pay the rent.

Worst case scenario: You already have a safekeeping receipt for securities.  You  assign it over to the swindler who gets a loan against the value of the receipted items.  He takes the loan proceeds to the nearest casino and leaves you with the responsibility of repaying the loan with interest.

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