Investment Clubs
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Kevin said
New faster anti-recession bus.
As you were …………..
billr said
I am curious to know if anybody has any OLINT status update. Is it true they are set for trial tomorrow 3/11/09?
maria said
anyone has anything recent on the DS case?
PEI said
People in UWIN what you think about the latest update?. Well we might or might not see a penny but it seems they are trying to do a thing. I wonder if it is enough though
live&letlive said
The last ruling was they should apply after the 11th March to unfreeze the assets. At which time I heard that they got a date for the 13th or 15th. However since the charges & arrest everything has gone a bit cold on that. So that only real date that I know about now is August 5th ( ANOTHER HOT BRUK SUMMER probably the beginning of many more LOL).
Mi have a PROBLEM !!!!!
Now that OANDA hear that the charges are not systemic MEK DEM NUH FREE UP THINGS
Mi have a next PROBLEM !!!!!
We have emailed OANDA and sent DS communication re suspension of trading on their platform begging them to tell someone in the US regulatory set up that DS is bulshitting us if he has less that threequarter billion on the platform. They have not acted.
What the hell is going on??
InDeRiver said
rove capital is up, way up
Geotrdr said
Finally, a non ds/olint post. InDeRiver, care to add a numerical figure to “up, way up”?
PipUNIT said
Is DS’s trial today?
Patricia said
GO DIRECTLY TO JAIL!! DO NOT PASS GO AND DO NOT CLOLLECT $200.00.
“The plea came three months after the FBI claimed Madoff admitted to his sons that his once-revered investment fund was all a big lie _ a Ponzi scheme that was in the billions of dollars. Since his arrest in December, the scandal has turned the 70-year-old former Nasdaq chairman into a pariah who has worn a bulletproof vest to court.”…
http://www.huffingtonpost.com/2009/03/12/madoff-arrives-in-court-f_n_174194.html
what a gwaan said
Justice in DS caseis taking too long. The good book say when justice is delay the people take the law in their own hand. Take a page out of US book let justice act quickly.Shame on the authorities incharge in this case. A wonder if them getting a cut of our money. I am Dammm upset right now cause justice is not in my favor, whatever the outcome of my hard earn money.
Rabbit said
Geotrdr…InDeRiver’s comment on Rove must be sarcasm…
InDeRiver said
aud/usd long , eur/usd long , nzd/usd long, usd/sdg short all these pairs + , xau /usd long is -
Geotrdr said
I dont know Rabbit. Four +’s and one – sounds pretty serious.
RedP said
Hey folks,
You know, Madoff did a lot of wrong, but it takes a real man to stand up and admit his guilt and face the music jus so like he did, no dilly dally and go round corner, pity some ppl dont follow suit.
Peace
RedP
maria said
wow, i wish i was in the position of some of the people out there who dont give 2 hoots re the DS/olint saga. mi sorry but mi haffi concern bout my likkle much cause ah nuh get me get it free !!!
Geotrdr said
@14
What? Keep in mind this guy did not come out when everything was honky dory. It crashed. His only other choice was to run. Dont forget how long he was robbing people. In the early 90’s when he was robbing people, what was he then, a little boy, a fake man maybe? How about in 1997 and in 1998? What about in 2000, 2001 and 2002? what was he then. What was he when he TOOK money from charities?
Real man? I cannot stop you from thinking that about greatest con artist to hit Wall Street. I have a different opinion, but who am I anyway.
maria said
didnt we hear a couple months ago that all the talk about these stores in difficulty were just rumours?
http://www.jamaica-gleaner.com/gleaner/20090313/business/business1.html
Patricia said
RedP, I agree with Geotrdr on that one. I think his confession and guilty plea were deliberately timed events. He did what he could to squirrel away assets for close friends and relatives, fully well knowing that time was no longer on his side.
RedP said
@16 & 18
Hey Pat and Geo, understand what you sayin, I guess what I meant to say is that at least he just plead guilty and done, no big long drawn out affair and whole heapa excuse. In that sense I meant at least he jus up and face the music without wastin too much time, whole heapa lawyer fee, tellin whole heapa lie, etc Him jus done di argument and call it george so to speak. Unlike nuff other ppl that have us like puppets on a string hanging on hoping against hope that everything will be fine. In that sense, Madoff is a bigger man den the other bunch a crooks.
RedP said
Maria @ 17
This is just a sign of the times, if you notice when you go to the grocery stores they are not as fully stocked as they used to be. The same thing is starting to happen in the hardware industry, goods are becoming harder to get because 1. manufacturers are producing less because the consumer has reduced spending and 2. Overseas suppliers have reduced or removed the line of credit that they extend to local distributors. Ah bwoy, weh fi do other than trust God and live eeh??
Peace
Patricia said
OK RedP. Have a blessed w/end.
Leaving Babylon said
Where’s the news on Olint? Didn’t we have a hearing?
PipUNIT said
Does anyone know if DS had his court case this week? I can’t find anything. There was supposed to be one like March 12th or 13th?
pissed off said
What is the lastest UWIN Update?
JSM said
Good Day Ladies and Gents:
This is how Warped the World that we Live in is.
AIG has gotten over 170 Billion dollars from Taxpayers and yethttp://www.cbsnews.com/stories/2009/03/16/business/main4868077.shtml still they are paying out over 160 million in Bonuses.
After saying all that then the stock is up over 60% for the day.
JSM said
Hey RedP, my belief is Madoff came forward and tried to get everything over with quickly in order to protect his family. I do believe, knowing how the US Govt. operate in a case like this that they will still go after his family for asset and whatever else they believe that they can “Take” from him or his Family. Whatever is within the law for the Govt. to take neither Madoff, his family or anyone that profited from the Ponzi Scheme will be able to keep. Of interest is whether or not the same “Stance” will be taken in the cse of David Smith.
JSM said
sp. cse=Case
RedP said
JSM @ 25
I wonder if I can get one a them bonuses!!
PipUNIT said
I’m guessing that DS never had his trial last week? I really hate that Mother F$$$er
Fresh Prince said
Well done Missick. Great handy work…..British Government now suspends TCI constitution. Plan to seize back the islands government within a week. No more PM and Ministers of cabinet
http://www.timesonline.co.uk/tol/news/world/article5919534.ece
Fresh Prince said
This is the second time britain has had to suspend the constitution down there because of allegations of corruption by the ministers in TCI.
Watchrul said
Has anyone heard anything about WW? Their site is now down and telephone numbers busy signal would suggest that they are disconnected.
PipUNIT said
Where the hell is my money who gives a crap about Missick. Where the hell is David Smith and my $$$$$$$$$$$$$$$
Fresh Prince said
But Pipunit you should give a crap about Misick. Isn’t he or wasn’t he a facilitator?You may not get back your money but dont you want to see justice done on all levels?
Fresh Prince said
I hope people now realise that much of the fake wealth created over the past 10 years, in Jamaica and around the world was done through greed and fraud. Now we are witnessesing the collapse of the world’s dolly house.From stock markets manipulation, housing bubble, ponzi schemes etc etc, it has just been a big fake. Now Poof!! it gone.
JSM said
Fresh Prince:
There is still money out there sitting on the sidelines. The Money did not “Disappear”.
Poor-us said
PEI said
March 11, 2009 at 1:25 pm
People in UWIN what you think about the latest update?. Well we might or might not see a penny but it seems they are trying to do a thing. I wonder if it is enough though
A promise is a comfort to a fool – PEI, what you need to start doing is collect as many UWIN clubmembers as possible and lets have a meeting on how to set the ball rolling. Drop me a note at: Shafted UWIN Clubmember, c/o P O Box 333, Kingston 6, JMA AW12, Jamaica.
They have been warned that March 20 is the last dauy of grace before club members start to take action starting from me.
YardMan On Wall Street said
Ponzi Scheme Victims Get a Tax Break
http://online.wsj.com/article/SB123730195606956645.html
The Internal Revenue Service announced unprecedented tax relief for victims of Ponzi schemes, saying many of those affected could deduct up to 95% of their losses immediately.
The IRS said victims wouldn’t be subject to limits that apply to personal casualty or theft losses and could carry back net operating losses five years to offset taxes paid, or forward 20 years.
live&letlive said
Mi havi agree wiith pipunit
Leaving Babylon said
This makes no sense – where is the court record? Olint’s new hearing will be…? Attorney so & so filed a continuance to reconvene on…?
If anyone on the bus has the word, please pass it along.
RedP said
LB, its been very very quiet. Makes one wonder whats goin down.
deanna said
check out david’s smith facebook. He is planning on bringing more investors to cayman.
PipUNIT said
I find it odd that nobody even knows if David Smith even wen’t to court a week ago.
JANSAW said
whats the latest on higgins and ww……anything, anyone?
Comment said
This is what all the Schemes are expecting to happen, everyone will just vanish and forget they every had money invested. OLINT has put up some sort of smoke screen on there website that they are disabled due to other activity. # 42 pip I also find it strange that Mr. Smith’s case is kept private. They have not even communicated with there clients….members things are bla bla but nothing.
Peace.
P.S. Rabbit, Patricia and the Good Dr. hope all is going well with you.
pissed off said
Hi Ladies and gents
These are tough times and a lot of us have lost a lot of money,
There is hope out there still. Anyone watch the apprentice last night?
Patricia said
Hey Comment..still around. Busy trying to stay afloat and looking forward to warmer temps.
Rabbit said
Hey Comment! Good to hear from you
Things are well on all other fronts…hope at least the same is true for you and the other friends on the #4.
I think things are relatively quiet here are there is little or no information to share. I doubt however that anyone has turned their backs on the situation.
Blessings to all
Rabbit
pissed off said
I will be calling lewfam tomorrow
pissed off said
Hey guys what do you think of Lewfams recent update?
pissed off said
WHERE IS EVERYONE !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Fresh Prince said
Pissed Off they have moooooooooooooooooved on
RedP said
Hey Pissed, we deh ya, watching and waiting and waiting and waiting and waiting…….. Ah life!! Wha fi duh?? Trust God and live yah mi friend.
Peace
Wayne Worlds said
RedP:
Looks like you need to reach out to Pissed Off and pray for him. Sounds like someone on the edge.
pissed off said
I am actually female and am not on the edge. I just need to get my f*****g money. I read lewfam is looking at alternatives which cannot be disclosed at the moment and I am wondering if any of u guys know what it is…
live&letlive said
Pissed off who have your dough Lewfam or Olint???
freedom said
-’=p;-
REFUGEE said
spoke to WW today, they say payments will start as soon as they gat a bank account! Leys hope the banks are willing to help out!
Rabbit said
Rove’s return for March was 1.1%
Veronica Henny said
I have been emailing IPS O.Stennett and no one is responding to my email. I also call customer service they ask you to leave a MSG. no one is responding to the msg. Can some one on this blog PLEASE help me to get in-touch with IPS or let me know what is going on please
pissed off said
Answer to 56 Lewfam and UWIN
Wayne Worlds said
REFUGEE:
What happen to the account they had in Jamaica and where paying a few late last year? Tell them you will be more than happy to get a check drawn on a Florida Bank. BTW, I notice that another lawsuit was just filed against them in Broward County Florida. I wonder if these lawsuits have anything to do with their repeated mis-steps and promises?
Comment said
Rabbit you are still in Rove? Thought you left that ship!
C.
freedom said
how did u get them an phon that ww
jonothan said
funny isnt it? some time last year i asked a question on this site and described olint as an alternative investment scheme and everybody jumped on me for styling the thing as a scheme.i dont see the main jumper posting anymore. well, i have another question, do the people out there honestly expect to get their money back from olint? and dont cuss mi people, just answer the question.
REFUGEE said
yes,I don’t think all is lost
roy said
news on tvj has it that worldwise start pay out
pissed of says said
Lets face it, if July comes around again and nothing we might have to take our MIND OFF OUR MONEy, I keep getting promises. I am calling Lewfam and will update!!
pissed of says said
REFUGEE, is there a reason you are so OPTIMISTIC**
REFUGEE said
Maybe it’s just because i’m an optimist
REFUGEE said
look how fast the charged stanford and madoff, look how long it took to scrape up some dirt on ds, seems strange to me.
jilted said
anyone has any word on Partners financial??
they have US$20000 for me and i need back my money.
any word anyone?
dehustle said
Competence & accountability Vs incompetence and corruption
RedP said
Hi folks, hope all is well with you.
Jonathon @ 65, like Refugee, I choose to remain optimistic. My personal opinion is that in the face of adversity its better to have faith, hope and remain optimistic. But that’s just me. One might say that that’s not being realistic and my head might be stuck in the sand. But stranger things have happened, with God all things are possible. So who knows, if I get it back, great. If not well I guess I’ll just call it George and move on. but in the meantime I’ll remain optimistic.
Love and Peace guys!!
Sheraig said
Has anyone received payment from World Wise?
pissed off said
Max Higgins.
Carlos Hill
David Smith
Noel Strachan
When are these MADAF**ka going to prison like MADOFF.
Let join together and put their SORRY ASS in JAIL.
namekyoyo said
hey all I havn’t visited this site in forever. Any word on whats happening with Olint?
namekyoyo said
@ Jonothan I was probably the person who went at you for calling Investment clubs “schemes”. And though things gone to crap I stand by my assertion that calling them “schemes” at the time without proof was biased and not based on objective motives. Just a thought… Did anyone call Madoff’s company a scheme? Nope not till all the money was lost and all revealed. If Madoffs business can be considered legitimate till proven otherwise I will extend the same courtesy to DS.
Now I’ve been busy with other business and been out of the loop for some time. I have $$ tied up in these “groups”would love to get some feedback. Do you all think DS was pulling a Madoff? I know he’s in court on charges of fraud. Is this fraud based on money laundering or “ponzying”? (I know new word)
gonemad said
FBI on Olint’s case. People fed up.
http://www.radiojamaica.com/content/view/17018/52/
jonothan said
i dont understand, no one has anything to say re worldwise paying out money? can anyone confirm if any money has in fact been paid out and the limits and conditions?
REFUGEE said
A FRIEND GOT $600 AND A STATEMENT. THEY CONTACTED HIM BY PHONE.
jonothan said
YES !!!! glad to hear that. hope some more “schemes” follow suit (no pun intended)
Paige said
Hello all
Long time. I know things could be better for alot of you guys but thank God for small mercys.
Anyhow, I was attempting to gain additional information regarding the FBI investigating Olint and it does appear to be true. For all of you guys who have legitimate complaints, you can call 212 384-1000 and press O for the Operator. I was told you can speak to anyone, and they will ask a few questions and then I guess take your complaint. When I called to query I told the the agent/(guy) who answered that I was calling on behalf of someone who was in Jamaica, he wanted to know why I was calling and why the person couldn’t call himself. He said the person can call and speak to anyone. The word Olint or David Smith did not seem to come as a surprise to him however when I initially called the 202 number provided the lady who answered didn’t know what I was talking about. She provided me with the 212 number. So who ever wants to call feel free and provide feed back if possible. I don’t believe I can do anything yet because my Olint is through a Pig and I believe he would have to make that complaint.
namekyoyo said
Hey Paige long time no see. Let me know how that toll free number works out for you. I’m curious to see what they can do from this side. I doubt they can do much but still you never know.
So here is the money question. Does anyone know what the fraud charges are based on? And who has our money? Is it the banks? Are they using our millions gaining interest? Lending it out. Who stands to benefit from these proceedings?
Whos got the scoop?
PipUNIT said
Major Neil Lewis is just trying to buy time and with all his “promises” of sending back us all our principal with this “alternatives” he’s working on, while hoping the whole time David Smith comes through. He can’t afford to keep the website up, ain’t nobody gonna give this guy a loan for the money he needs in this market.
namekyoyo said
I agree with you. I’ve heard much talk about the groups trying to get loans to pay back the principal however I doubt anyone will be giving out those loans in this current global economic climate. Hard times all around.
Rabbit said
Comment @ 63 – I withdrew all I could without officially closing the Rove account. What is left is icy-mint money.
Hope you and all friends on the #4 are hanging in there.
Fresh Prince said
Where is Mr. Pantry coming from with this sentiment that it is the FSC’s action that cause Olint and others to collapse. His position is interesting.
http://www.jamaica-gleaner.com/gleaner/20090417/letters/letters2.html
pissed of says said
ANY NEWS GUYS!!!!
Fresh Prince said
There is no news and the only news you will get is when the thief gets his jail time.
RedP said
Whassup guys? The following link is a short interview with Stanford.Interesting. At least him talk, unlike smaddy we know. haha
http://abcnews.go.com/Blotter/WallStreet/story?id=7270405
Love and Peace folks
gonemad said
David Kellerman, Fredie Mac committed suicide.
Life won’t be better David.
I hope it’s not a David thing life is more important
http://bumpshack.com/2009/04/22/freddie-mac-cfo-david-kellerman-committed-suicide-photo/
Fresh Prince said
Suicide is painless
RedP said
Is it??
Ad said
I have not been on the page in sometime. A long long time. I will say onething.I hope David Smith pay for all the hurt he has caused on his investors. I really do. He has caused more harm than Madoff and others combine. Atleast those guys stood up and admitted their wrongs. Their investors know exactly where they stand. All he did was lie and lie and still lie and extended investors pains. What about all the familes that have all fallen apart due to him? What about all the people he has made homeless? Wicked, wicked, wicked man.
searching said
Capital blu bites te dust; investors money squandered again
RedP said
Whassup guys?
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWQKSPu575js&refer=home
Patricia said
This piece is very long. I read it in parts as I had the time. It was worth it and is a lesson to everyone.
There are so many striking similarities with others that we are familiar with.
“HOW BERNIE DID IT.”
http://money.cnn.com/2009/04/24/news/newsmakers/madoff.fortune/index.htm?postversion=2009042406
jonothan said
i am wondering if at this point in time and where things are at people are interested in how they were parted from their funds as against means of getting it back.
YardMan On Wall Street said
Capital Blu CEO charged for fraud
http://investforlife.wordpress.com/2009/04/23/capital-blu-ceo-charged-for-fraud/
RedP said
Great post Pat!! I hope up nawt is warmin up.
Geotrdr said
Yep. The Cap Blu guys in a lot of trouble. Using investors’ money for luxury cars, private jet charters and, a two-night $40,000 spree at a “gentlemen’s club.” And phony account statements on top of all that. That is not going to look good in court, not at all.
40 grand at a strip club. 40 thousand dollars. 40 thousand US dollars. Backside. What in the world did they get for $40,000? How did the Feds find out about this? Did they charge it to the expense account? Did they send the bill to a client?
40k at a titty bar. $40,000 of other peoples money. Thats nuts. Oh man…they are going to fling the book at these jokers.
K said
I-Trade FX decision on their cases has been reached..They are being fined $250K
I wish they are pursued even harder.
The Martinez are showing more and more they are not as “clean” as FX Chief in all his talks want people to believe.
http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0367140&case=08BCC00014&contrib=NFA
gonemad said
http://www.radiojamaica.com/content/view/17507/52/
swine said
I read thru the NFA report. This Olint fella wasn’t the trading expert that people made him out to be. The NFA made it seem that Olint didn’t know much of what he was doing. Olint actual have his money unsecure in I-Trade. Now NFA how much money does Olint have left in JIJ/I-Trade?
Anyone read the report can you tell me if Olint has any money left?
live&letlive said
K
What is dirty about the FX chief?
The FX chief seemed to have trusted DS but he was not alone in doing that.
Please explain your comment
K said
Live&letLive,
Have you ever heard FxChief speak about how successful the traders were in Jamaica and how he helped them? A lot of time I don’t think he remembers all of what he’s said in all his travels and teaching. As a successful trader, I find it extremely hard he cannot detect if someone was truly trading and profiting.
I don’t even want to go on and on about this topic, suffice to say I’ve heard a lot to come to my own conclusions.
Rabbit said
FYI – ItradeFX will no longer accept or service trading platform clients from the US. Existing accounts will be transferred to another broker unless you indicate otherwise in 7 days.
chilly said
The developments with I-Trade FX are very interesting. I know they are the target of a Federal investigation. Their involvment with IL and DS runs very deep, regardless of how hard they try to distance themselves. I see some serious lawsuits in their future.
live&letlive said
K
I see exactly what you are saying.
From the NFA report I get the impression that FX chief was more impressed with the amount of money that DS had at his disposal than his trading skills.
jonothan said
correct me if i am wrong but if the great DS was really as good as people claim, and a christian as people claim, and genuinely interested in making good, couldnt he get a friend to set up an a/c and trade and pay back even the smaller amounts out there? or is it that he is satisfied witth how things turned out? comments please and remember dont kill the messenger, deal with the message. lol.
jonothan said
correct me if i am wrong but if the great D.S. was really as good as people claim, and a christian as people claim, and genuinely interested in making good, couldnt he get a friend to set up an a/c and trade and pay back even the smaller amounts out there? or is it that he is satisfied witth how things turned out? comments please and remember dont kill the messenger, deal with the message. lol.
RedP said
Jonothan @ 111
I had heard that that was what he was doing (trading on someones account). I have absolutely no proof that it is so. All I can say is that it may well be just more rumour or speculation. Your guess is as good as mine.
Peace
Hang in there ppl, God is still God and He is still in control. Trust Him and no one else.
Patricia said
RedP wrt a post you made elsewhere, I continue to admire your style. Walk good bro…and btw, I’ve been hav’n some good weather. Little too chilly for the lake yet, but nice for getting out and about :-0)
Jonothan, I’ve not heard the rumor of which RedP spoke, but then I dont listen to the rumors (anymore). The lack of any formal and meaningful communication has spoken volumes for me.
pissed of says said
Lewfam just sent out their usual FORM LETTER…..any comments???????
RedP said
I wonder why I-Trade is going this route. Isnt Martinez supposed to be if not the best, one of the best?? Hmmmmm…………….
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pissed off said
I GUESS NONE.>>LOL
jonothan said
maybe only a select few got the letter. seems u r in esteemed company, lol.
pissed off said
Okay here you GO guys:::::::PLS READ AND COMMENT!!!!!!!!!
Dear Members,
We are always so thankful to you for your continued patience and support in these trying times. We ask your prayer as we continue to work at implementing a solution, we still have not reached a state of being able to give you details of what we are doing because of how sensitive the negotiations are.
Our trader’s situation has cleared one hurdle in that the National Futures Association (NFA) of the USA are not pursuing any charges against him and his organization as they have not found evidence of anti-money laundering. In the meantime we await further developments in his other trader’s situation(s). As soon as any additional information is available we will be communicating this to you.
Please continue to pray for the following:
1. Relief for many members who are undergoing hardships at this time
2. The successful completion of the negotiations .
3. The early resolution to the situation involving our trader’s funds and for him and his family’s well being
The Management and Staff
LewFam Club
Copyright Lewfam Club 2009
Contact: | Email: customercare@lewfamclub.com
jonothan said
well at least one scheme is communicating with its customers so its better than another. re the above statement at 117 could someone please explain to me what exactly does this mean? “”"they have not found evidence of anti-money laundering”"”" am i to understand then that they HAVE found evidence of money laundering?
Wayne Worlds said
That is a very good question Jonothan. The letter of course assumes that the reader has a third grade education, since the NFA investigation and subsequent fine leveled against I-Trade FX, had absolutely nothing to do with Olint or David Smith for that matter. Olint, et. al., where just examples cited as it relates to lacks “anti-money laundering” compliance procedures in place at I-Trade FX at the time. Lewfam letter is plainly an insult to its club member’s intelligence or, just maybe, its show the writer’s lack of command of the facts of the case. Take your pick!
REFUGEE said
seems to be a typo, most likeley should be “they have not found evidence of money laundering”. but u never know.
live&letlive said
The NFA document that fines I trade FX is on the Website we can read and comment on that.
pissed of says said
Response to 119
It means what it says, they have not found evidence of money laundering
jahknow said
Well, the chickens have come home to roost. I think we can all now conclude that, all the schemes are dead and the chance of getting back any money is very slim.
I am very happy with what is happening in the CashPlus case, where properties are being sold to recover some money to pay investors.
The lastest property put up for sale is the hotel in montego by, which I understand can fetch up to US$3M or $245M.
Add this to his four houses each valued at $30m, bring a possible sum of $365m.
There are other real estate properties which should be on the auction block very soon.
I hope the same will happen in the Olint/Worldwise case.
WW – Has S$1.2b located in florida plus a $150M property in Jamaica.
Its funny that there has been no fraud case brought against WW, I wonder why.
jahknow said
Another major real estate property reportedly controlled by former Cash Plus boss Carlos Hill has been placed on the auction block.
Bids are being sought for the purchase of a 33 room hotel which is located in Montego Bay, St. James.
http://www.radiojamaica.com/content/view/17719/52/
jahknow said
Properties acquired by WW last year are found here.
http://www.bcpa.net/RecSearch.asp
Juelle Properties is a real estate company run by Noel Strachan. Now type in Strachan, Noel in the search field and check the address, its the same as that of Juelle Properties.
Who Noel think him a fool up.
WW investors need to file fraud charges, as these properties will soon be transfered and Noel will be gone with the wind in him brand new Bentley.
swine said
Did the NFA report stated that Olint might be reporting gains that he did not made.
Geotrdr said
Swine, you can read the report here.
http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=1900
swine said
Geotrdr please explain this statement in NFA report which you said I could read
The returns Smith was advertising were another red flag. While this red
flag was not on the lists in NFA’s Interpretive Notice and l-Trade’s AML procedures,
those lists are not exclusive. Advertised returns of the magnitude Smith claimed are
often fraudulent, and that fact is well-known in this industry. Although Jared testified
that other money managers achieved equally high returns, there is no evidence that
Jared checked the credibility of their claims. Smith’s advertised returns are possible but
unlikely, and l-Trade should have questioned them.
Patricia said
Privy Council finds holes in Olint case – Says courts a law unto themselves
http://www.jamaica-gleaner.com/gleaner/20090511/news/news4.html
pissed of says said
Hey SWINE check this out on the gleaner online:::::::::::
All pigs aren’t created equal – Swine flu not the same as ‘hog flu’ LOL
swine said
ha!ha!ha!ha! lol that is a good one.
Geotrdr said
There is nothing to explain. Seems pretty straight forward.
PEI said
GENTLE PEOPLE UNU STILL ON YA?
Brother RedP. Me so glad fi see you.
please read this link about the Madoff man and his feeder clubs.Why the feeder clubs for Olint not being investigated and the heads sued because sure them withdraw plenty money before the crash. What the Jamaica authorityies doing? I dont hear gun fire about any investigations or suit in Jamaica. All those big pigs who did take out there money before the crash why they not investidated and suit file for the money to pay back so we the little ones can get back something?
PEI said
sorry see it here
http://www.nytimes.com/2009/05/13/business/13madoff.html?_r=1&hp
swine said
@129
I would love to sue Lewfam but mi nah have no money fi pay lawyer.If the Jamaica Law system is law unto themself. What are my chances in getting back my money? When mi have to go court to fight not just Lewfam but the court has well.
The Bible say where there is no justice the people take the law in their hand, that is what dem want people fi people do.
RedP said
Yow PEI, Big up!!
The following is from the link u posted.
In 1999, for example, one of Mr. Picower’s accounts posted an annual profit of more than 950 percent, the suit said. That account was one of two that reported annual returns from 1996 to 1999 ranging from 120 percent to more than 550 percent, the suit said.
——————————————————————————
950%!!! BLOUSE AND SKIRT!!!!!!!! Olint nah seh NUTN!!!!!!!! hahahahahha
Love and Peace guys
Fight the good fight of faith.
Prayer Bus is till running. Link me if your interested. cjb@cwjamaica.com
Leaving Babylon said
Greetings all – long time,
The NFA’s dropping of David from the I-Trade FX situation doesn’t do a great deal for us, but anything to lighten the load is obviously a good thing. David needs the trial to complete in TCI before we will hear anything. I believe that our money is held outside the jurisdictional purview of the investigation, but guess what? Until the case convenes and officially concludes in TCI we are going to know notin nada zip. From what I understand David can’t do anything to even indicate what his plans are for restitution until the criminal investigation is officially over. The Sergeant in charge of the investigation told me that the hearing is tentatively slated for August, but could very well be moved forward to an earlier date.
Big up RedP – Keep Jesus your focus!
floridian said
The NFA complaint is about Jared Martinez. The NFA has no remit to incarcerate people. The FBI/DOJ/IRS etc does have such powers. The NFA complaint and findings can be presented in a different forum for which charges can be made.
Similarly, The TCI Commission of Inquiry does not have the power to arrest or convict. But evidence from the inquiry can used in a criminal investigation. For that specific purpose Salmon letters were sent to those persons who by virtue of evidence presented to the Commission may face criminal charges now.
Come on Jamaicans education and knowledge are the key. Let us toil in that regard while the Sun shines.
jonothan said
so the funds in olint are, for all intents and purposes, dead then?
RedP said
Hey folks, Have any of you ever heard of “Sterling Currency Fund” and able to give any info about them? Apparently the fund is offered by Sterling Investments out of the States and apparently provides investors with audited financials. Any info anyone??
Peace
RedP
Geotrdr said
RedP, this there a website, a person’s name, address?
RedP said
Here u go Geo.
Is this to good to be true?? Can anyone do a DD?? Mi nuh good pon dat!
These are their claimed returns:-
Nov 08 Dec 08 Jan 09 Feb 09
Gross return 48% 55% 32% 197%
Return after fee 31% 36% 21% 128%
Sterling Investment’s group of funds offers qualified investors an array of
alternative investment options. The currency fund provides an investment vehicle
for individuals and institutions to passively invest in the currency and commodities
trading markets.
Integrating high risk investments into a traditional investment portfolio actually
lowers the overall risk by creating a well diversified portfolio.
This fund offers clients a diversified investment into currency trading.
True diversification is more than just an array of stocks, bonds or mutual funds
These investments are qualified for self-directed IRA’s, 401k’s, pensions and
profit sharing plans.
STERLING CURRENCY FUND,LLC
High Yield Currency Fund
Your Private Alternative
Investor
13908 SW 86 Court
Miami, Florida, 33158
Phone: 305-677-9282
eFax: 305-675-3306
Fax: 305-677-9282
STERLING CURRENCY
Our Trading Returns*
Description of Offering:
The portfolio utilizes multiple traders who utilize varying strategies and who have proven track records.
The portfolio is allocated amongst varying approaches to currency trading from conservative to aggressive.
Currency and commodity trading utilize varying amounts of leverage in the portfolio to increase the returns
(which also increases the risk of loss).
We implement several downside protection strategies to limit loss of principal but investing in currency and
commodity trading is extremely risky.
Schedule of Fees :
Performance Fee: 35% of profits billed monthly
Management Fee: 3% per year, billed monthly
These fees are subject to change.
Accounting and Liquidations:
Our clients funds are held in an institutional FOREX trading brokerage account
The fund and client accounts are audited quarterly. We will make our financials
records, trading records and audit reports available to clients and their representatives.
The fund is revalued (priced) weekly. New client funds will be invested at the adjusted values (unit price)
upon the weekly close of the New York Market on Friday at 5:00 Eastern Standard Time.
Encashment of client funds is done, upon written request, within seven days after the close of each month.
Investing in currency and commodity markets can yield extremely high returns. Our experienced traders have had
good results in the past; but past performance provides no indication or assurance of future results.
* Investing in FOREX involves significant risk of loss.
High Yield Currency Fund
FOREX Market Background
The foreign exchange market is the place where currencies are traded. The overall forex market is the largest, most liquid market
in the world with an average traded value that exceeds $3 trillion per day and includes all of the currencies in the world.
There is no central marketplace for currency exchange, rather, trade is conducted over-the-counter. The forex market is open
24 hours a day, five days a week, with currencies being traded worldwide among the major financial centers of London, New
York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney – spanning most time zones. The forex is the largest
market in the world in terms of the total cash value traded, and any person, firm, or country may participate in this market.
DISCLAIMER: FOREX Trading involves high risks with the potential for substantial losses
CFTC RISK DISCLOSURE STATEMENT
Forex Managed Account The
risk of loss in trading foreign exchange can be substantial. You should therefore carefully consider whether such trading is
suitable for you in light of your financial condition. Sterling Currency Fund does not control, and cannot endorse or vouch for
the accuracy or completeness of any information or advice you may have received or may receive in the future from any other
person not employed by Sterling Currency Fund regarding foreign currency or exchange. The content herein is provided in
good faith and believed to be up-to-date and accurate; however, there are no explicit or implicit warranties of accuracy or timeliness
made by Sterling Currency Fund or its affiliates. Accordingly, we accept no responsibility for any use made of the information
provided.
Both Futures and options trading involve substantial risk and is not for all investors. Investment in the currency exchange is
highly speculative and should only be done with risk capital. The high degree of leverage that is often obtainable in foreign exchange
trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains. In some
cases, managed foreign exchange accounts are subject to substantial charges for management and advisory fees, as well as a
mark-up, above and beyond the ordinary spread generally provided. It may be necessary for those accounts that are subject to
these charges to make substantial trading profits to avoid depletion or exhaustion of their assets.
The regulations of the Commodity Futures Trading Commission (CFTC) require that prospective customers of a Futures Commission
Merchant receive a disclosure document when they are solicited. These disclosures are incorporated into the Trading
Agreement. This brief statement cannot disclose all of the risks and other significant aspects of the foreign exchange markets.
Therefore, you should carefully review the disclosures to determine whether such trading is appropriate for you in light of your
particular financial condition.
Past performance is NOT indicative of future results. The information contained herein should not be construed as an offer to
buy or sell commodities, futures or any investment. The information contained herein is intended for informational purposes
only. STERLING CURRENCY FUND highly recommends that before making a decision, the reader collects several opinions
related to the decision and verifies facts from at least several independent sources. The CFTC has not passed upon the merits
of participating in any of managed accounts programs nor on the adequacy or accuracy of any of these disclosure documents.
Other disclosure statements may be provided to you before a managed foreign exchange account may be opened for you.
High Yield Currency Fund
What it is all about?
We are specialized in providing professional investment management
on a discretionary basis on the worldwide inter-bank foreign
exchange (Forex) market.
Our goal is to provide another diversification tool that lets investors
tap into the $1.3 trillion a day foreign exchange market through
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The investor can participate in our programs for a smaller
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due to the pooling of investment funds.
Let our experience Work for You. Managed accounts may relieve
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money independently. A managed account would also be appropriate
if you wish to diversify from your current trading methodology.
As our client, you will receive all the benefits of our trading experience
and trading systems without taking any of the trouble or time
to make the trades yourself. Have in mind that Forex trading involves
a substantial risk of loss.
Potential Managed Account investors are advised to carefully read
the Risk Warning to determine whether a managed investment in
Forex Managed Account is consistent with their financial situations
and investment objectives. Secure your future in exchange with a
managed. Always have in mind that Forex trading involves a substantial
risk of loss.
Why Managed?
Self-trading in the currency markets is at best a difficult proposition.
To be successful a currency trader must follow market movements
24 hours a day, five days a week. Many Forex investors do
not have the time, experience or desire to trade with this intensity
themselves. Forex Managed Accounts were created for investors
with risk capital who do not necessarily want to trade on their own.
Advantages of Forex Managed Accounts:
Equal potential in both market directions. Unlike equity and fixed
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there is no difference in profit potential (or risk of loss) between a
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portfolio is not ‘biased long’ but able to be traded under rising or
falling market conditions.
Global Diversification.
Global portfolios composed solely of equity and fixed income investments
lack full diversification. Investing in currencies gives
investors access to markets beyond equity and fixed income investments,
which may provide more complete diversification and
may reduce portfolio risk. When combined with an investor’s existing
portfolio of equity and fixed income instruments, the Forex
Managed Account Program may reduce the volatility and risk of
that portfolio while potentially enhancing long-term returns. Keep in
mind that Forex trading involves a substantial risk of loss.
Excellent Risk Control.
Investing in currencies incorporates disciplined risk control procedures
in order to limit risk and achieve the smoothest possible
growth in its investors’ account value, but also Forex trading involves
a substantial risk of loss. Although increasing leverage may
increase one’s risk, leverage can be an acceptable and useful tool
when used judiciously and with strict risk management techniques.
Investors in currencies may therefore be able to achieve a high
rate of return with a level of risk control that may not possible with
traditional ‘buy and hold’ investments. Have in mind that Forex
trading involves a substantial risk of loss. Although returns are far
from guaranteed, professional fund managers may distinguish
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DISCLAIMER: FOREX Trading involves high risks with the potential for substantial losses
jonothan said
with all that has gone on in the not too distant past and the current economic situation could people really be tempted to go down this road again? i guess the answer is yes.
RedP said
Hi Jonathon,
Just sharing, not necessarily jumping in. One thing though, would it stand to reason that with all that has gone on, is it not a possiblity that there are legit entities out there?? Keep in mind, corrupt entities will eventually get the most media attention and pique ppls interest when they go belly up. But how much attention will a legit company get that just goes along quietly doing what it does legally??
Even so, in light of all that has happened I’m sure most folks will think twice with fear and trembling before jumping back into FX investments again.
Peace Bro
Geotrdr said
@138. lol. Of course. For every con man out there, there are 50,000 suckers.
Redp, if your not good at DD, just stay away and call it George. That info is all run of the mill. Where did you get it?
Opportunity said
I can’t remember the name of Carlos Hill’s brother? Is it Sedwick Hill? There is a Sedwick Hill linked to some SEC issues in Ontario Canada and I was wondering if there is a relationship.
jonothan said
it is reported that a house belonging to carlos hill is to be sold and around 30 million could be recouped there, but when the receivers and lawyers get there pay what will be left for the original investors? why are people surprised at that development? this was an obvious consequence even before receivers were appointed.
Geotrdr said
@146
Carlos Hill has a brother name Bertram. Bertram is the one that was arrested along with Carlos in Jamaica. Not aware of any connection with the Sedwick Hill you speak of. If you really want to, Google the $h^t out of the name. You might find something.
RedP said
Hi folks! Its amazing the amount of ppl advertising FX classes in the Sunday Gleaner. I woulda thought that after all thats gone on that nuff smaddy would be runnin in the other direction. haha
RedP said
From our friends on the “FOR” blog. Respect due.
http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=Default&mad=No&sdetail=1293&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com
deanna said
http://www.tcweeklynews.com check the latest on OLINT.
RedP said
Court has pity on Carlos Hill. Hmmmmmmm………. Did Carlos Hill have pity on his “lenders” ??
Oh well, I guess we are commanded to walk in forgiveness. Rough, nuh true?
http://www.jamaicaobserver.com/news/html/20090601T230000-0500_152676_OBS_COURT_HAS_PITY_ON_CARLOS_HILL.asp
Love and Peace
pissed off said
Any more news out of the turks and caicos, Let pray this nightmare is coming to an end sooooooooooooooon
JANSAW said
anyone knows of any person being paid by ww yet
REFUGEE said
Two brethren get paid, $600 & $85 and both cheques were good. They say they should start paying upto $5000 this month ( currently at $2000). they say they are only paying ‘principal balance’, no interest.I spoke with them last week.
The Dæn said
http://jamaicaobserver.com/magazines/Business/html/20090604T230000-0500_152880_OBS_OLINT_TCI_INVESTORS_COULD_BE_LEFT_PENNILESS.asp
jonothan said
you dont know how happy i am to hear this. glad to know not everyone is being deprived of ALL their funds.
jonothan said
oh yeah, i forgot. for all the lee-chin fans out there.
http://www.jamaica-gleaner.com/gleaner/20090605/business/business1.html
Opportunity said
So Jonothan,
What is the difference between Lee Chin and OLINT? Lee Chin asking his debtors to hold off until………… hahahaaaaaaa . This is really good news!
jonothan said
well the first difference is that both are spelled differently. the second difference is that lee-chin is informing his clients of what the current position is while olint is not.dont get me wrong though, i am not a fan oh either.
RedP said
Sad but true.
http://www.jamaicaobserver.com/columns/html/20090608T230000-0500_153079_OBS_IS_SUCCESS_A_PUNISHABLE_OFFENCE_.asp
Rabbit said
Winding-up of TCI firm Olint begins
THE WRAPPING up of a TCI firm at the centre of one of the region’s largest fraud probes has now begun.
A liquidator to settle the affairs of Olint TCI was officially appointed by the Supreme Court on Tuesday.
More at…
http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1310&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com
jonothan said
i guess this means that three quarters of the little monies the olint investers should be getting will be given to receivers and lawyers and liquidators. good job DS you are indeed Godsend.
RedP said
In todays Observer, the FSC listed a public notice of 58 Unregistered investment entities. Sheeesh I didnt know that there were so many. How about that, it looks like one a my neighbours is the head of one. Interesting. Quite a few are closed down now, whats the point in putting them on the list. Heck, maybe alla dem are closed down now.
Rabbit said
David Smith fears for his safety in JA
http://www.jamaicaobserver.com/magazines/Business/html/20090612T040000-0500_153317_OBS_DAVID_SMITH_FEARS_FOR_HIS_SAFETY_IN_JAMAICA.asp
pissed off said
Hey guys are you all sleeping , he is arrested again…….
Seems like DOOMSDAY is quickly approaching., one trouble after the next
RedP said
@Peedoff- Not sleeping. More like watching and waiting and waiting and waiting ….. Ah well, patience is a virtue so I’m told.
jonothan said
maybe the powers that be have decided that locked away is the safest place for him to be.
RedP said
@Jonathon, he made bail same day star. USD 2 mil. posted by a friend. Muss be nice to have dat kinda corn nuh true.
PEI said
RedP wha happen friend? somebody have 2 millions USDollars for bail money is what dat and so much people cant get even a smalls.
Dis world nuh level at all
RedP said
Whaapen PEI, longtime no see pardy. Your right, the world bumpy bad, the only place it level is at the foot of the cross.
jonothan said
the receivers must be sharpening their teeth and lining up for DS. big money a go run.
RedP said
Maaaaaan, I wish I was a receiver!! ChaChiiiingggg!!!!
pissed off said
Any news guys…………………………LETS KEEP THE CANDLE BURNING HERE….
RedP said
This is interesting from the “for” blog
theCynic, on June 24th, 2009 at 2:32 pm Said:
Below is a conversation I had with a friend of mine re the revelation (or speculation) that Olint TCI is a ponzi, which would suggest that Olint itself was a ponzi. You’re feedback/opinions are MORE than welcome
(All comments were made by the other individual, with no interruption from myself)
2:04 PM
ok….all of those (DBG, JMMB, etc) entities have a capital markets unit/division/organization within their larger organization, that capital markets unit does active investing/trading
2:04 PM
whether it is with repos, equities, bonds, etc.
2:05 PM
well….clients have accounts and get statements on a regular basis from those units, if someone wants a liquidity event in the middle of a reporting period, which many of those companies allow, they don’t immiediately liquidate the entire position that the persons account is a part of, refund the person and re-enter the position
2:05 PM
transaction costs would kill them, if they had to do that every single time
2:06 PM
so what they do is, they have two separate units/divisions/organizations/parts
2:06 PM
one handles the trading with part of the funds, the other is a float to handle deposits & redemptions on a short-term basis
2:07 PM
soo….in order to do that, digital records are altered with every deposit & redemption, however if you were to follow the cash paper trail, what you would see is that peter money is paying paul
2:07 PM
or even partly paying paul
2:07 PM
which is exactly what olint tci was doing
2:07 PM
but their legal/business/accounting structure (i can’t speak to the quality of the structure, but it is HIGHLY likely that it was shabbily done and bare pattyshop based on olint’s operations)
2:08 PM
so as a result of that, the courts can take one entity, and look at it in isolation, and that’s no doubt what they are going to find
2:08 PM
but it is disingenuous at best
2:08 PM
it’s not truly accurate, in terms of the big picture
2:08 PM
which is why I say what I say, and believe what I believe
2:09 PM
if it comes out that the BIG picture is a ponzi, well I will give you that
2:09 PM
but I have seen no hard evidence that says that yet
2:10 PM
also, there are a MILLION and one red flags, the fact that one of ‘elements’ that the authorities are using in this case is a working paper by the IMF co-authored by Brian Wynter raises all sorts of red flags in my mind
2:10 PM
http://site.olinttciliquidation.com/General_information.html
2:10 PM
and tell me if you don’t smell something fishy there
RedP said
Drivah, I posted supm on talk general that never came through, perhaps maybe cuz it had alot of links, could u check and release for me please? Tanx
jonothan said
wonder if DS is taking note of what happened to madoff?
Opportunity said
Must read!
Capital Blu investors’ $17M mostly gone, authorities say
By Orlando Sentinel
See link:
http://www.orlandosentinel.com/news/local/orl-aseccapital-blu-receivership-062062909jun29,0,5060079.story
Fresh Prince said
Madoff get 150 years. DS needs similar treatment.Both men should have the same end to leave prison in a box.
fx. ras said
been out …love to all.. has world wise stop paying
jonothan said
so its agreed then, the people with money in olint can forget about it?
pissed off said
Lew fam sent out a new email? did you guys receive it?
pissed off said
It went to my JUNK MAIL exactly where it belongs…………….
pissed off said
They mention AUGUST 5,I wil copy and post it here/////////
pissed off said
Dear Member,
At this time our situation has not changed. We still await realization of one of the options that we have been pursuing.
As you may have noted, the media has been issuing releases stating that OLINT TCI was audited and is being wound up as per order of the Turks and Caicos courts. OLINT TCI is a separate organization started by Mr. David Smith in the Turks and Caicos Islands and does not concern us in any way.
Our funds are in OLINT and located on the trading platforms NOT in the Turks and Caicos Islands.
We trust that at some time our funds will be released and Mr. Smith will have an avenue to make payouts.
Please be reminded that the next court date will be August 5th, 2009. Through the Caribbean Currency Traders Association (CCTA) a lawyer has been appointed to watch proceedings on our behalf.
As always we ask you to please continue to pray for the following:
1. Relief for many members who are undergoing hardships at this time;
2. The successful completion of the negotiations;
3. The early resolution to the situation involving our trader’s funds and for him and his family’s well being.
The Management and Staff
LewFam Club
LionHeart said
We were robbed.. end of story. David just needs to have the decency to admit/confess to this con. That is the only thing required now to end this drama. Bernie Madoff is a bigger man.