Fraud Alerts Int'l.

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Apr
18

Beware-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
30

HO-CHUN “JEFF” LEE-Reward/Wanted

Los Angeles, California – August 28, 2012

HO-CHUN “JEFF” LEE– WANTED on a $1.1 Million dollar US Felony warrant, after stealing more than $1.5 Million from Elderly US Employer

Ho-Chun "Jeff" Lee

FUGITIVE-HO-CHUN “JEFF” LEE

 

Ho-Chun Lee aka: “Jeff” LEE, President of “Circle Transportation”, AKA: “Upswing Logistics, Inc.” Registered at  87 Hoping First Road, Kaohsing, Taiwan wanted for embezzling more than $1,500,000.00  (ONE MILLION FIVE HUNDRED THOUSAND US DOLLARS) from his elderly employer-INCARE CARGO SERVICES of Los Angeles, California.

Lee is believed to possibly hiding as a FUGITIVE in Taiwan.

INCARE Cargo Services, Inc., conducted business as a freight forwarding/customs brokerage company.  As part of its freight forwarding services, INCARE received checks from its customers to pay for customs duties.

From 9-1-2006 to June 1, 2008 Jeff LEE was INCARE Services’ chief administrator whose duties included:

1} Outside Sales

2} Management of INCARE Services customer list

3} Control and supervision of INCARE Services business accounts

4}Overseeing customer relations.

LEE a trusted employee with a high level of responsibility, used his position to STEAL the $1,500,000.00 from INCARE Cargo Service, Inc. Lee accomplished this by accessing INCARE Cargo Services’ incoming mail and customer files.

In June of 2006, Jeff LEE incorporated a separate, but similarly named company-“INCARE Cargo Express, Inc.” and opened a corporate bank account at a local Los Angeles Bank.

LEE then began intercepting checks made out to INCARE Cargo Services Inc., and deposited them into his new account.

LEE also managed to acquire an INCARE Cargo Services Stamp which he used to endorse checks written to INCARE Cargo Services Inc.  In addition to falsely endorsing checks made payable to INCARE Cargo Services Inc.

Further, LEE misappropriated INCARE Cargo Services Inc. customer list which eventually put INCARE out of business.

The theft was discovered when the elderly victim contacted a customer regarding a late payment. The customer provided a copy of canceled checks with endorsements, which prompted the victim to contact all of his customers – discovering the scope and magnitude of the crime.

Shortly after the theft was discovered LEE also misappropriated INCARE’s customer list to his brother-in-law companies’ HCLM Express Services Inc. and Up Swing Logistics, registered at 8717 Aviation Boulevard, Inglewood, CA.

CHUNG FUNG MAK, LEE’s brother-in-law, is the registered agent for HCLM EXPRESS SERVICES, INC and UP SWING LOGISTIC.    It is unknown if CHUNG FUNG MAK,  had knowledge of the criminal activity.

Information that leads to his arrest and extradition WILL be rewarded!!!!   Please contact the FBI/Los Angeles Police  or [email protected]

SEE PASSPORT COPY BELOW

HO-CHUN LEE Aka: Jeff Lee-SUSPECT/FUGITIVE

HO-CHUN LEE Aka: Jeff Lee-SUSPECT/FUGITIVE

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
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