Apr
18

Raj Mahadevan, “Altos Escondidos”-Panama Fraud

BEWARE: Athisayarai Mahadevan (aka: Raj)

Altos Escondidos-Development Fraud

 

     Athisayaraj Mahadevan (aka: Raj) has promoted the “Altos Escondidos” developmentin Panama since 2007.  He and his original partner, Jes (Jason) Black, set up “Offering Documents” for the Ranger Panama Fund Series, S.A.  The purpose/intent was to lure potential investors into an apparent ruse involving a land (Resort) development project in the inland area of the Republic of Panama which existed only through a series of misleading official papers, phony land documents with false values and repeated promises of strong returns on their investments. 

The following are the facts based on victim statements and findings of a subsequent investigation:

In August of 2007, Dr. Rebecca Castaneda, a dentist in San Francisco befriended the reporting victim, a former patient.  It has been alleged by one victim that Dr. Castaneda has a reputation for having used her dental practice as a front for pushing risky business or investment schemes.  It is further alleged that Castaneda received referral fees for doing so.

Dr. Rebecca Castaneda

Dr. Rebecca Castaneda

On the surface this conduct appears to be at the least unethical conduct.  Further, information has surfaced that indicates Castaneda had her own brush with the law in the past, was fined and ordered to do community service. 

Castaneda misled the victim by saying she was borrowing $75,000 from her Home Equity Line to invest in Altos Escondidos.  Based on the information and the materials provided and discussions with Castaneda the victim decided to invest in the Ranger Panama Fund Series, S.A – the “Altos Escondidos” Project, and wired $50,000 to Ranger Funds, LLC. 

Later, when asked by the victim/patient to provide proof that she actually invested her own money in Altos, Castaneda refused to do so.  Even though Castaneda is fully aware that Altos Escondidos is a scam she continues to collaborate with Raj Mahadevan to this day.    

In October 2007, the victim and Castaneda met with Jes Black and Athisayaraj Mahadevan (aka: Raj), (Ranger Panama Principal Partners) in Panama City, Panama.                      

            (“Raj” pictured below with Panama President Martinelli)

The victim understood before their trip to Panama that they would be taken by plane to the “Altos Escondidos” location for a development site visit.  However, once they arrived they were told they would not be able to fly to the site location due to poor weather conditions.                                                                           

     After years of false promises, sketchy accounting practices, continuous misinformation the victim filed a complaint with our sister organization globaladvocates.ch in an attempt to uncover the truth.  The prospectus for “Altos Escondidos” indicates that between April 15, 2007 and April 27, 2007 Ranger raised $1.5 million in seed capital to purchase the land, a “69 Hectare parcel”, for 1.38 million (US).  

(“Raj” pictured at a party in Panama City)

Raj at party

     The investigation showed “Altos Escondidos” owns 69 Hectares of undeveloped land in the Capira region, northwest of Panama City. Its purchase price was $345,000 (US), not the $1.38 Million that Athisayaraj Mahadevan (aka: Raj); (pictured left at a party in Panama City)  claimed he had paid for the land.   It was also discovered that there is a current mortgage lien listed in government registry as of February 15, 2013 against the property for $250,000 (US) in a short-term loan. This lien continues to be listed in the public registry as an active loan.  The land is registered for tax purposes (finca 3352, ubicacion 8201 is $2,000 (US), this may or may not be an attempt to defraud the government land tax authority, information regarding this is pending a review.

     The investigation further revealed:  AE Alleged Office HallwayThe listed office for this project is now closed at least two years, now a Gynecological medical office-for women.  (See Photo Right)

They victim originally visited the “Altos Escondidos” office at this same location, and  received signed copies of all agreements/documents. A new address has not been provided; and the phone is disconnected.

A local contractor hired to cut roads for the project was never paid (he is owed $50,000) and he is now threatening to sue “Altos Escondidos” and Athisayaraj Mahadevan (aka: Raj); the roads were not finished.  

     Locals in the area have heard rumors about the project but nothing has surfaced; Phone Calls and emails to the AE office in Panama by our investigators were not returned; Annual meetings of Investors have not been held as directed by the operating agreement; Investors have been kept away from each other.   

     For more than six years the victim tried to get financial statements and other documents regarding the projects progress and expenditures.  The victim was met with one excuse after another -why the project has been delayed and why the documents were not forth coming.   The detailed case report provides documents; timelines and lists of all the promises and excuses made by Mr. Mahadevan in reference to “Altos Escondidos”.  Investigators in Panama, realtors and attorneys in Panama provided vital information aiding our investigation.

Altos Escondidos 017

 

     When the Investigators went to the “Altos Escondidos” property; they found there was not a single presence for “Altos Escondidos”, locals spoke of project rumors but have not seen any activity or signage.  Investigators did speak with a representative of Groupo Howard, identified by Mr. Mahadevan on 2-22-2011 in an email to our victim as the road builder.   The representative told the investigators they contracted to cut the roads to the project but were never paid.  Groupo Howard has indicated its intent to file suits against Mr. Mahadevan and “Altos Escondidos” for $50,000 – non-payment.  The roads have never been completed.

(photos of Altos property taken by investigators above right show no evidence of the claimed improvements)

(Copy of Offer Memorandum, filing of lein Registration and Land Sale Registry Document #338563 & 296778 respectively from the Registro Publico De Panama are evidenced below at the bottom of this page.

     Barr International http://www.barrarchitects.com/projects lists Altos Escondidos as a current project, calls to Barr regarding their progress have not been returned.  [email protected]     1875 Eye Street NW, Suite 500 Washington,D.C.20006  tel:202-429-2076

     BARR GROUP INTERNATIONAL LLC is a full-service Washington-based firm offering Architecture, Engineering, Interior Design, Construction Management, Development, Sustainable Design, Infrastructure, Preservation and Planning services. Established in Washington DC in 1981, the firm provides design services throughout the United States, Europe, Latin America, the Middle East and Asia.  

          Dr. Raj Barr Kumar; FAIA,RIBA, IIDA, USGBC is an architect, interior designer and environmentalist, and President of Barr Group international LLC and Barr-Kumar Architects Engineer PC, established in Washington, DC in 1981.  Athisayaraj Mahadevan is Dr. Raj Barr’s brother.

     Contact information for BARR Group International:

[email protected]     1875 Eye Street NW, Suite 500 Washington, D.C.20006  tel:202-429-2076

                It is evident that Mahadevan and his brother Dr. Raj Barr Kumar are exploiting the fact that Raj Barr was a FORMER president of AIA to lend to the credibility of the Altos Escondidos fraud.

     Neither US nor Panama Authorities have not been alerted at this time, allowing Mahadevan the opportunity to rectify this matter before facing regulatory or criminal sanctions.

Note: In 2007 – The National Futures Association filed a complaint against Black Flag Capital Partners LLC (NFA ID# 345533) & Jason Black (NFA IF # 344149) – Case # 07-BCC-029

     Any other victims or witnesses to this fraudulent enterprise or any other perpetrated by  Athisayaraj Mahadevan (aka: Raj) et, al.; are asked to contact this forum to file a complaint or offer additional testimony in the pursuit of justice.

      Based on the information we have received – this project is questionable and may have been misrepresented to the public.  If you have information pertaining to the projects validly and/or you are an investor still waiting for a return on your investment please contact us.

New information received indicates that “RAJ” Mahadevan may be residing in Playa del Carmen Mexico, perpetrating a similar investment scheme.

One victim contacted this forum making the following statement; “Raj Mahadevan, is a liar, cheat, con artist and cyber-bully. He scams people of their, and then when confronted attacks their character and that of the victim’s family members in an effort to intimidate them from trying to recover the funds he had stolen from them. The guy is a sick sociopath that knows no boundaries”.

A source in Playa del Carmen brought to one victims attention an article in the local paper that Raj allegedly visited “Chilly Willy’s” a local “strip club”/brothel and was pursued by police when he ran out without paying for services rendered.

Additional links to complaints against Raj Mahadevan:

ttp://www.whoscammedyou.com/current-scams/17554/sex-toy-ripoff/

 

http://www.whoscammedme.com/current-scams/17093/altos-escondidos-rip-off-or-dog-bite/

 

http://www.scambook.com/report/view/270845/Raj-Mahadevan-Complaint-270845-for-$50,000.00

 Contact us at [email protected] or email us via our “contact us” page.

Certificate of Land-registry

investor Memorandum

Certificate of Land

Jan
13

Mark (aka: “Zio”) Segovia & Betty Segovia

Mark Segovia is now calling himself “Zio” Segovia

(Zio-meaning Uncle or Slang for Brother in Togo western Africa)

Accomplice/Co-conspirators”

Mark Segovia

Mark Segovia (“ZIO” or “Uncle” Segovia)

Kurt Bowker, Lidio Rancharan
(Other accomplice’s names being withheld pending further investigation)
DBA: Vault LLC & “Grupo Bannorth” Banking Services, Panama.

Will steal your money! In this case they stole over $1,600,000.00 and did
knowingly cause losses to investors in excess of $2 Million Dollars

They will promise you they can effect major financial transactions
or investments with incredible returns then rob you blind!

Here’s the summary of the case:

Lidio Rancharan

Lidio Rancharan

In February of 2006, numerous potential investors/victims attended an investment seminar in the state of Washington put on by a group out of Vancouver, WA. One of the local presenters was a man by the name of Kurt Bowker. Other local names are currently being withheld pending further investigation. It is now understood that none of the persons involved in marketing the investment product were licensed to do so.

The investment proposal was purported to produce a high yield with a monthly cash flow using Life Insurance Policies that the group would purchase and subsequently sell at a profit to institutional investors. Then the group would see a return of their investment to the tune of 15-30% monthly.

Based on the convincing presentation, written prospectus and the name-dropping of investment companies like Fidelity, the group bought into the pitch. Over the next several weeks the group put together approximately $2.3 Million Dollars to invest in this scheme.

The group was told initially that the funds invested were being used to purchase 3 life insurance policies, 2 policies with a $10 Million benefit and one with a $3 Million dollar benefit payout for a total of $23 Million US Dollars. Ultimately, the promised returns never came to fruition.

Later it was discovered that these same Life Insurance Policies were utilized by Lidio Rancharan to bilk investors out $100’s of Thousands of dollars from a separate group of victims in Canada.

Early on in the first few months of the scheme, some or the Washington affiliated investors became nervous and were actually able to withdraw or recover approx. $350,000.00.

When returns did not begin as promised, the group began pressuring the local, Vancouver Washington accomplices who finally admitted that they were not in control of the subject policies. In fact the policies were under the control of “Vault LLC” company that was owned by Mark and Betty Segovia who seem to bounce around from the states of New York, Georgia, Arizona, California to Panama.

Shortly after this realization, in September of 2006 the first of many weekly conference calls were held with Mark Segovia/ZIO Segovia. During these calls Segovia continued promising to make good on the investments with various other “Deals” he was making, always indicating that even though the policies hadn’t been turned over for a profit that they still existed and the investors money was secure.

This was the story from Mark Segovia (Zio Segovia) up until the first months of 2008. It was around this time that the investors learned that Mark Segovia had allowed the all three of the Life Insurance Policies to lapse by failing to pay the premiums. On top of that the Segovia’s “Gutted” the cash value of the policies to the tune of $1,600,000.00 and absconded with the money that was rightly the property of the investors.

Once the investors confirmed and collected sufficient evidence to support their findings, they confronted Segovia, who is currently “on the lamb” residing in Panama acting as a financial consultant for Grupo Bannorth Bank. Once confronted with the overwhelming evidence, Mark Segovia conceded that he had indeed drained the cash value from the policies and allowed all of the policies to lapse. . It was also learned that Bowker was allegedly paid off by Segovia to the tune of $250,000.00 and then fled Washington and started another business in Arizona.

Victims of this scam at one point were advised by the Segovia’s, that they were represented by one Mr. Albert Coleman, an attorney out of the Atlanta area. When contacted Mr. Coleman denied any personal involvement in the scam to the victims, however did supply significant information and documentation as to his role and involvement in the set-up and structure of Segovia’s web of business entities.

As late as January 2009, Mark (Zio) and Betty Segovia continue to make empty promises to return the stolen money. But, it is apparent that all have been just a ploy to stall and put off the investors in hopes that they will not actually take any action and just go away.

International Fraud Alert spoke with an official at the GlobalAdvocates.ch, who advised that they had been brought into the matter by one of the investors to examine the issue from a criminal perspective and attempt to possibly mediate the situation to resolution.

IFA has concluded from the information from various sources that Mark Segovia (Zio Segovia) continues to attempt to entice others from his hideout in Panama City, Panama. In fact it is alleged that Mark-Zio Segovia lives a very highlife on the backs of unsuspecting victims with promises of riches and financial success. Our belief is that Segovia does nothing more than entice, induce and scam unsuspecting victims into being defrauded out of their hard earned money.

In fact IFA has learned that this incident is not the first time that Mark Segovia’s nefarious activities have caught up with him. If would seem that he was party to a legal action in 2004 in Federal Court for allegedly the same type of conduct against a Mr. Peter Fagan and Comanche Investments the court issued a judgment against Segovia for approximately $500,000.00.

Mark Segovia is described as: Black Male, approx. 47 yoa, with a dark complexion, 5’10-6’00 ft tall, 180-200 lbs, likes to dress in expensive clothes and speaks with a slight European/Caribbean accent and a silver tongue.

Betty Segovia: is believed to work as a flight attendant out of the Atlanta area on route(s) between Phoenix and San Diego, CA.

Bottom-line WARNING to the public, BEWARE of Mark (aka: Zio) and Betty Segovia, Lidio Rancharan or anyone associated with them. These crooks will claim to be able to assist you in making large sums of money in their investment programs and it is a scam they will take your money laughing all the way to the bank, leaving you broke.

Note:

{IFA is still in the process of verifying the legitimacy of Grupo Bannorth, Panama City, Panama. All documents executed by Grupo Bannorth have been executed by the below listed entity.}
Grupo Bannorth S.A.
Urbanizacion Marbella
Ocean Business Plaza, 13th Floor, Office 1311
Republic of Panama
Attn: Alexis Vargas
Vice-president and Legal Representative

If you have any information that will assist in the arrest and conviction of these criminals send an email. This case is currently under investigation any and all sworn statements will be taken and appreciated in the pursuit of these Fraudsters! Also please report your case to your local, state and federal authorities. Help us put stop to these scam artists from destroying the lives of anyone else!!

{Allegations are substantiated/evidenced and are on file with an independent investigative entity}
Contact us at [email protected] or email us via our “contact us” page.

Oct
24

Robert “Bob” Mihailovich-Scam Convicted Again!

Robert “Bob” Mihailovich Sr. Creates

“New” investment scheme: Violates

terms of Parole on previous conviction!

Beware of Mihailovich and the companies he has traded for (FXCM, I-Trade and Taurus Global Markets)  You will likely be swindled and LOOSE YOUR MONEY!!!!

Robert Mihailovich Sr. (a convicted felon) of 6218 new Forest Drive, Rockwall, Texas 75087 is under investigation for defrauding at least 14 individual investors of $900,406,000 dollars through Growth Capital Management Corporation.

Mihailovich pled guilty to a charge of mail fraud, aiding and abetting on 03-24-2005 for offenses which took place in 1999 and 2000. Federal District Court of Dallas Texas (3:05-cr-00067-N).   He was ordered to make restitution in the amount of $197,446.12 and pay a $50,000 fine and was ordered to serve 21 months in prison beginning October 3rd 2005.  After his release he was to serve three years of supervised release with a special condition that he “refrain from incurring new credit charges or opening additional lines of credit without approval from his probation officer Sherry Britt, probation office in Garland, Texas.  It was also alleged he obtained a line of credit in the amount of 50,000 from Chase Bank activity prohibited by his prior felony conviction.

Mr. Mihailovich claimed to have a 30 years history of never losing money investing in the futures market using his proprietary software program and “Better Math”. Mihailovich marketing materials made statements:  “NO WAY TO LOSE”, “NO RISK TO THE INVESTED CAPITAL” AND “RESULTS ARE GAURANTEED”.  At least one investor has a signed affidavit “Under penalty of perjury that he was told, “I have never experienced a loss in more than 30 years of trading”

Victims indicate that between about May 2008 and January 2009 Mihailovich operated by guaranteeing at least a 10% profit per month on each account, which he would then split -50/50 with each investor.  14 investors all have had similar experiences:   After depositing large initial investments to a joint trading account Mihailovich would draw down the account in a very short period of time.

The victims accounts some with beginning balances over $100,000 would be drained of value to less than a few hundred dollars in less than few short days blaming the losses on accounting errors of investment/trading firms holding the funds.

A source at the National Futures Association stated, “Failure to declare Mihailvoich was a convicted felon would be grounds for immediate dismissal”.   The SEC  (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) indicate that Mihailovich nor anyone from his company were registered to act as traders until September 12th 2008 when Robert Mihailovich Jr became a registered agent for Growth Capital Management through NFA http://www.nfa.futures.org/ and the CFTC http://www.cftc.gov/ .

Mihailovich entered agreements with and was allowed to manage and “Trade” funds through three different currency-trading companies without proper credentials;

TAURUS: http://tgmfx.com/  1300 Oak Creek Drive #319 Palo Alto, CA 94304 Tomo Sagare, President 650-814-7320, Kaz Nakanigaishi, Chief Representative 650-291-6642

ITRADE: 400 Colonial Center Parkway Suite #300 lake Mary, FL 800-842-6061 trading

FXCM (http://www.fxcm.com  Forex Capital Markets, Financial Square 32 Old Slip, 10th Floor, New York, NY 10005 USA  888-503-6739

FXCM was the only company that stepped forward and accepted any type of responsibility in this fiasco offering one investor who is a retired widow living on a “fixed income” a paltry  $3000 in exchange for signing a hold harmless in an attempt to have the victim release them of any further responsibility after her account went from $50,000 to $500 “within hours” between the 5th or 6th of January 2009.  This victim has since been forced to come out of retirement and gone back to work due to her significant loss. Additionally a previous employee has stated that Mihailovich owes him over $40,000 in back wages and has since terminated his employment.

If you have any information related to Mr. Mihailovich’s investment schemes please contact:

[email protected]

See press release from the CFTC:

CFTC Seeks to Revoke Registration of Growth Capital Management LLC Based on CFTC Anti-Fraud Action

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today filed a notice of intent to revoke the registration of Growth Capital Management LLC (GCM) of Rockwall, Texas. GCM is a registered Commodity Pool Operator and Commodity Trading Advisor.

The CFTC’s notice alleges that GCM is subject to statutory disqualification from CFTC registration based on a default judgment order and an order of permanent injunction entered by the U.S. District Court for the Northern District of Texas on March 15, 2011, and June 26, 2012, respectively (see CFTC News Release 6299-12, July 9, 2012). The permanent injunction order requires GCM jointly and severally to make restitution to defrauded customers, disgorge ill-gotten gains, and pay a civil monetary penalty, together totaling over $9.3 million, for fraudulently soliciting over $30 million from customers to trade commodity futures contracts and foreign currency (forex). The order also permanently bans GCM from further violations of the anti-fraud provisions of the Commodity Exchange Act and permanently bans GCM from engaging in certain commodities related activity, including trading and seeking registration in any capacity with the CFTC.

The court’s order arises out of a CFTC complaint filed on July 27, 2010, against GCM, Robert Mihailovich, Sr., and Robert Mihailovich, Jr., the son of Mihailovich, Sr. (see CFTC Press Release 5863-10, July 28, 2010). Mihailovich, Sr. was convicted and incarcerated on federal wire fraud charges, served 27 months and, while on a three-year supervised release, fraudulently solicited and accepted more than $30 million from approximately 93 customers to open managed trading accounts, according to the complaint. Mihailovich, Jr., at the time of GCM’s initial registration, failed to disclose Mihailovich, Sr.’s involvement with GCM and failed to disclose in CFTC registration filings that his father was a controlling principal of GCM, the complaint alleged.

The CFTC Division of Enforcement staff members responsible for this case are Alison B. Wilson, Boaz Green, Stephen T. Tsai, Maura M. Viehmeyer, Philip Tumminio, Michelle Bougas, Anne Termine, Gretchen L. Lowe, and Vincent A. McGonagle.

http://www.cftc.gov/PressRoom/PressReleases/pr6335-12

 

Oct
24

Offshore Trusts to Protect Your Assets?-Warning!!!

 

SECURING YOUR ASSETS IN OFFSHORE TRUSTS

Content provided by:  Ethan Conners-Senior Investigator

Having investigated white collar crime for more than 25 years in both the public and private sectors.  The one question it seems I am asked more than any other is, “how do I avoid loosing what I’ve worked so hard for”, or more simply how does one most effectively protect their financial well being?

Between 2009 and 2012,  an investigative study was conducted by the renowned advocacy/private intelligence organization Global Advocates (globaladvocates.ch).  This organization specializes in due diligence, the investigation of financial fraud and white collar criminal activity. The research team conducting the study was comprised mostly of former criminal investigators who were assigned the task of preforming due diligence on offshore Trust provider companies at the bequest of one of the most prominent international logistics corporations.

The results of this study is the primary inspiration for this article. The purpose is to inform, educate and offer guidance in order to help those who may desire to establish formal financial structures to make informed decisions and navigate the often murky waters surrounding asset protection through international/offshore trust structures, and avoiding crucial mistakes in that process.

Most of us have financial skin in the game of life. However, if you are one of the fortunate few who has been able to acquire above average wealth, then you likely know that you run a much greater risk of becoming “financial target”.  There are individuals and entities that lay in wait for an opportunity to take any and all of what you may have worked so hard for.

Then there’s is always the inevitable for all of us stricken with the human condition, death.  Many estates are torn asunder by greedy family members, our respective governments and lawyers upon our final demise due to lack of proper planning.

Let us not forget the intrusive and often unfair public obligations brought on by our most “well intentioned” governmental tax authorities.

For those who wish to take a proactive approach there are sophisticated legal mechanisms available to shield those who plan accordingly.

Unfortunately, in our current day society it has become acceptable practice to seek what is commonly referred to as “litigious opportunity”. It seems the world is littered with professional vultures circling, just waiting for the opportunity to strike and take what one might have, whether that be in a dissolution action, as more than 50% of all marital unions end in divorce, or other legal actions, you are at risk.

A great number of these potential adversaries come cleverly cloaked as honorable “officers of the courts”, attorneys, lawyers and barristers who make their living off the anguish and misfortune of others, “fee pigs“, as one fellow legal colleague put it.  Now we must acknowledge, that not all of the members of the ‘honored’ vocation are frivolous financial pirates, but enough of them are to have severely warped the once “Just” legal system and given the profession a bad reputation.

One recent study indicated that each of us stand a one in three chance of becoming entangled in a legal battle that could potentially destroy our “financial house”.  As a result of this trending litigious environment within the world we live, one must consider preventative measures, and if you happen to be someone of significant financial status your chances of coming under attack increase exponentially.

Therefore, You MUST take precautions to protect yourself and the legacy of your family.

Perhaps one of the most highly recommended methods to insure that you and your family’s livelihood is protected from adversaries, both pubic and private is that of an offshore trust structure.

Keep in mind however, “not all that glitters is gold.” In fact the Trust company with whom you consult, is just as important as the actual structure itself.  Don’t be fooled by glossy brochures and upscale furnishings.  Not all Trust structures are created equal either.  One must work with a Trust consultant/advisor who is based in moral principle having your best interest at hear, not fee driven and that is properly schooled in asset protection trust structures.

The genesis of the study to which I refer was a Trust client seeking to migrate substantial  Trust holdings from one Trustee company, who had acted contrary to their fiduciary responsibilities, to one of integrity.

As a result, dozens of companies were evaluated during the course of the three year study in jurisdictions ranging from Europe and Asia, to Central America and the Caribbean.  What was uncovered by all accounts was nothing short of startling.  Incidents were revealed in which well known trust companies who manage Millions and in one case Billions in assets had documented incidents of conducting themselves in a manner that was dishonest, incompetent and at times acting with deliberate malicious intent. In fact in some cases the conduct of these companies ended up literally costing the client(s) millions of dollars in losses, not to mention legal fees.

The findings in theses cases were evidenced by way of witness affidavits, official court records and supporting documentation relevant to the specific case. A vast amount of evidence was obtained directly from the former Trust clients that had themselves suffered at the hands of these incompetent and dishonest trustees.  The study revealed numerous instances where prominent highly respected Trust companies had acted in a manner that was not only inefficient, incompetent and adverse, but went so far as to deliberately violate client confidentiality for their own benefit and defense when a claims were raised in response to their questionable conduct.

Within the case study three specific incidents were selected to be closely examined based on the severity of the damages to the client as it directly related to the actions and conduct of the associated Trustee company.  Due to ongoing actions I am not at liberty within this venue to disclose the identities of the offending companies.  But, what  I can state are the international jurisdictions in which these companies are domiciled which were Gibraltar, Jersey-Channel Islands, and Switzerland to be specific.

It’s imperative to note that the three selected Trustee organizations are independent Trust companies and entirely unrelated to each other.

Further, the author MUST state that not all companies examined in these very prominent Offshore Trust jurisdictions were found to be of the same ilk.  In fact, there were numerous Trustee companies located within these countries that had no formal complaints or conflicts registered against them.

That being said, there were numerous cases where complaints had been lodged in varying jurisdictions outside the three mentioned herein. It seemed that no one jurisdiction was completely without tarnish.  However, I again reference these specific cases in the identified jurisdictions simply due to their severity, financial expense and legal burden inflicted upon the Trust client(s) involved, and the fact that each and every case noted could be substantiated by sworn evidence and official court filings.

It is vital that I make clear that the intent of this article is NOT to imply or assert that all or even most Trust companies conduct themselves in an unscrupulous manner, in fact quite to the contrary. It was the experience of most of the investigators that a vast majority of  international Trust companies do operate within standard range of ethical behavior.

The point of sharing the results and issues brought to light during this study is to encourage the reader whether they be current international Trust clients or individuals considering formation of a Trust structure, to do their own due diligence regarding placement of their assets in the hands of just anyone claiming to have their best interest at heart of their operations.

In the conclusion, based on the facts examined it is the authors opinion that a properly structured and administrated international Trust structure in most cases involving high net worth individuals and/or corporate entities are by far the best way to protect ones financial well being from potential threats public or private.

Note: {The author does not intend to make any specific recommendation toward any Trust operator or identify the companies referred to herein. Should one wish further information or would like direction to reputable offshore trust consultants and professionals please contact, [email protected].}

If you have been a victim of fraudulent scheme, anywhere in the world then it’s time to real justice and recover your losses, or should you be seeking additional information about this article and reliable international trust consultants please contact GRA for a FREE case analysis and recommendations  @   http://www.globaladvocates.ch/



 

 

Oct
24

Anatomy of a “Ponzi” Scheme

Anatomy of a “Ponzi” Scheme:

Contributed by: Lucas Trevant-Global Advocates

http://www.globaladvocates.ch

It seems most people are familiar with the phrase “Ponzi Scheme” especially after 2008 when Bernard Madoff and his investment firm, Bernard L. Madoff Investment Securities LLC, were charged by the SEC with securities fraud for a multi-billion dollar Ponzi scheme perpetuated on his firm’s clients for many years.

In Madoff’s case he appeared to be a successful securities investor.  He had been a prominent member of the securities industry throughout his career.  He served as vice-chairman of the NASD, he was a member of its board of governors, and chairman of the New York region.  He was also a member of the NASDAQ Stock Market’s board of governors and it executive committee and served as chairman of its trading commission.   Over a period of 48 years he established a significant reputation in securities trading and his clients trusted him.

What is a Ponzi scheme?     

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.  Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk.  In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity.

Why do Ponzi schemes collapse?

        With little or no legitimate earnings, the schemes require a consistent flow of money from new investors to continue.  Ponzi schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out.

How did Ponzi schemes get their name?

        The schemes are named after Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s.  At a time when the annual interest rate for bank accounts was five percent, Ponzi promised investors that he could provide a 50% return in just 90 days.  Ponzi initially brought and traded a small number of international mail coupons in support of his scheme, but quickly switched to using incoming to pay off earlier investors.

What are some Ponzi scheme “red flags”?

Many Ponzi schemes share common characteristics.  Look for these warning signs:

  • High investment returns with or no risk.  Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk.  Be highly suspicious of any “guaranteed” investment opportunity.
  • Overly consistent returns.  Investments tend to go up and down over time, especially those seeking high returns. Be suspect of an investment that continues to generate regular positive returns regardless of overall market conditions.
  • Unregistered investments.  Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators.  Registration is important because it provides investors with access to key information about the company’s management, products, services and finances.
  • Unlicensed sellers.  Federal and state securities laws require investment professionals and their firms to be licensed or registered.  Most Ponzi schemes involve unlicensed individuals or unregistered firms.
  • Secretive and/or complex strategies.  Avoiding investments you do not understand or for which you cannot get complete information is a good rule of thumb.
  • Issues with paperwork.  Ignore excuses regarding why you can’t review information about an investment in writing, and always read an investment’s prospectus or disclosure statement carefully before you invest. Also, account statement errors may be a sign that funds are not being invested as promised.
  • Difficulty receiving payments.  Be suspicious if you don’t receive a payment or have difficulty cashing out your investment.  Keep in mind that Ponzi scheme promoters sometimes encourage participants to “roll over” promised payments by offering even higher investment returns.

What steps can I take to avoid Ponzi schemes and other investment frauds?

        Whether you’re a first-time investor or have been investing for many years, there are some basic questions you should always as before you commit your hard-earned money to an investment. The SEC sees too many investors who might have avoided trouble and losses if they had asked question from the start and verified the answers with information from independent sources.

When you consider your next investment opportunity, start with these five questions:

  • Is the seller licensed?
  • Is the investment registered?
  • How do the risks compare with potential rewards?
  • Do I understand the investment?
  • Where can I turn for help?

For more information, we suggest you read;  

http://www.sec.gov/investor/pubs/fivequestions.htm

If you have been a victim of fraudulent scheme, anywhere in the world then it’s time to real justice and recover your losses.

 FREE case analysis contact [email protected]    http://www.globaladvocates.ch


Oct
18

BEWARE OF WORLD BANK CONSULTANT; JOE STEWART

World Bank Consultant; Joe Stewart,
Gordon Building Supply (owner);
Bryan MacKenzie, Omnia Worldwide UK (owner);
Bill Todd, M-I SWACO Consultant.
 
These parties in collusion Solicited $330,000 Performance Bond for Diesel Oil Investment.
The Bond was mysteriously lost after 8 months of repeated attempts $330,000 be returned after DIESEL contract deadline had past. 
 
Stewart, Mackenzie, and Todd also signed contract to repay $82,500 each if Bond was lost, stolen, or forfeited for any reason. 
 
Repeated attempts to collect this LEGAL OBLIGATION have been unsuccessful. DO NOT AGREE TO ANY BUSINESS DEALS WITH ANY OF THE ABOVE LISTED INDIVIDUALS OR THEIR ASSOCIATES! INDUSTRIES INVOLVED  INCLUDE REAL ESTATE, RESORT PROPERTIES, FINANCE AND ACCOUNTING, OIL, OIL TANK CLEANING, BUILDING MATERIALS, AND CONSULTING.
For additional information contact: www.equalizergroup.org
Feb
14

Keith Eugene Mitchell

Keith Eugene Mitchel

Keith Eugene Mitchel

ALERT: Keith Eugene Mitchell and Alleged Co-Conspirator “Dr.”/“Pastor” Stephen J. Cooney

DBA: “The Option Group” Operating out of Coeur d’Alene, Idaho.
Without remorse they will lose your money!
In this case they scammed their victims for over $500,000.00.

They make empty promises of extraordinary returns with little to no chance of losses.

Be warned, you will lose your money in their illegal schemes.

Here’s the summary of the case:

In about June of 2007, Keith Mitchell and Stephen Cooney held an Investors meeting at a high-end resort in Coeur D Alene, Idaho. The VICTIMS present consisted of several retired Christian Missionaries and senior citizens with limited financial resources.

Some of the investors allege that they were shown documents that demonstrated annual returns of 100%. It was indicated that at the least the investors should see a return of 3 to 5% a month.

Further it was promised that in the worst case scenario the investors would never lose more than 5% in any one month and should the investors desire they could immediately withdraw their investment at anytime with 30-days notice. In short the pitch was that the investment was fool-proof”

Cooney who purported to be a Christian minister, a man of God of unshakable integrity, supported Mitchell’s claims stating that he had over $1,500,000.00 (One Million Five Hundred Thousand Dollars) invested in Mitchell’s program and was experiencing huge returns to the tune of hundreds of thousands of dollars.

The two men worked in concert to entice and induce the various investors into giving them money. In fact it was stated by Mitchell that Cooney received compensation for assisting Mitchell.

As follow-up to the group meeting in Coeur D Alene, Mitchell even traveled to Yakima Washington to meet with some of the same investors in order to perpetuate his scheme. Ultimately the group invested over $500,000.00 (Five Hundred Thousand Dollars) with Mitchell.

A few months later the members of the investment group began to receive “Margin Call” notices on their investments. Mitchell employed the services of a securities broker named “Yarjana”. When the investors came to Mitchell and Yarjana with concerns about the notices, they both directed the investors to ignore or disregard the notices that they were in fact errors.

In February of 2008, the investors discovered that the majority of their principle had been lost by Mitchell and directed them to liquidate what was left of their money. With more than 50% of their money gone, Mitchell confirmed in March that he would liquidate the account and return the money. Further he promised that he personally would “payback the lost principle” himself.

Shortly after this order to liquidate the account, Mitchell and partner in crime, Yarjana went on vacation to Mexico together without following thru with the liquidation. In short the victims lost their money. None of the promises have been brought to fruition.

When confronted with the issue Pastor Cooney’s only comment was, “It must have been God’s will”. Yet the investors discovered that when the investment program began to lose money, Cooney’s accounts were liquidated saving him the fate of the rest of the investors.

Investigation has shown that not only is Keith Mitchell not licensed to sell or market Securities, but that he previously had been under investigation by the State of Idaho for selling securities without a license and was subsequently fined some $25,000.00 and ordered to “Cease and Desist” his activities.

Mitchell and Cooney have within the last two months employed the services to two different attorneys to shield themselves from the outrage of the bilked investors. They have done everything from tell the investors to pound sand to promise to make good on the lost money.

Mitchell has on several occasions stated that he has got some Swiss Deal in the works that will allow him to pay the victims back. But, time and time again refuses to reveal any details of this purported Swiss Deal” Both of the attorneys hired to protect Mitchell and Cooney have dropped from the picture as Mitchell continued to stonewall them as well.

Fraud Alert spoke with an official, who advised that they had been brought into the matter to examine the issue from a criminal perspective and to possibly mediate the situation to resolution. However, to date, the suspects have made no substantive attempt at any type of resolution. Investigators stated that they are close to completing their investigation and will be forwarding their findings to various governmental agencies requesting official intervention.

Bottom line WARNING to the public, BEWARE of Keith Eugene Mitchell and Stephen J. Cooney. These con men will claim to be able make you incredible returns on your investments. Their claims are a SCAM they will lose your money laughing all the way to the bank, leaving you broke.

UPDATE: Cooney who is currently listed as a Director of Candlelight International, Inc. {DBA: Candlelight Christian Church} with the Idaho Secretary of State.  Is now showing his home address to be 8917 W. Cougar Gulch Road in Couer D Alene ID.

SEE ATTACHED PDF BY CLICKING THE LINK BELOW:

CandlelightChurchReg-Cooney

http://www.sos.idaho.gov/xt/?xp=\20151014\XMLPORTS_C189590_1510141216.xml

If you have any additional information that will assist in bringing these criminals to justice please send an email. Also please report your case to your local, state and federal authorities. Help us put stop to these scam artists from damaging anyone else!!.

For additional information please contact: http://www.equalizergroup.org

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