Ponzi Scheme Managed Account Question - Courtenay House Trading Group

[Pharaoh]

I invested some money from an inheritance last year with Robert Sindoni who said he worked with this company. Since reading about the situation few weeks back I contacted Robert who assured me not to worry. He hasnt returned 3 calls in the last 10 days. Now Im panicking. Has anyone ever dealt with him in relation to this company?

If there's nothing to worry about, then there's no harm in reporting all the details to ASIC and the liquidator.

 

[Interested Viewer]

As an Interested viewer and on behalf of friends and associates invested in here i was really wondering if anyone on here could answer this simple question or even give an insight into it for me:
.... If as an investor we have been advised that we risk 10% of capital to gain a return of 4% (monthly) of Total Capital this would mean in basic mathematics that you would need to consistently achieve a 40% return on the invested 10% of capital net of all expenses,overheads and brokerage so this could actually mean 50% Gross. How can this possibly be achieved on every trade ?? Have i missed something ??? Or does the term Only Risk 10% of your Capital mean they invest the full 100% and guarantee that you can't lose more than 10% hence guaranteeing 90% of Capital ??
Would really appreciate if someone could clarify this for me.

 

[correybeams2207]

Guacamayo,

I have just joined this forum today, struggling to comprehend what my wife and I are going through and what our future holds.

Nonetheless, I was referred to an Accountant out in the west of Sydney by another investor so I could make sense of what I was facing and caught up with him on Wednesday afternoon.

He was present at the most recent motion (I think he called it a motion) and has his own thoughts on what was presented which I am not going to try and detail.

My Accountant was interested in helping but wanted to charge a fee to do an "investigation" for me however this gentleman was the complete opposite and spent two hours with the both of us and did not charge me a cent AND even offered to help compile and response to the Proof of Debt forms.

But what impressed me most about him was that he took the time and effort to explain the Liquidation process outside of what we are facing with Courtenay House. He explained to us the notional process of a Liquidation and even provided us with white label templates of forensic liquidations that he has been involved in (no names or anything) to explain the "road-map" of a liquidation and how many twists and turns it can take.

I am not going to comment on what is and isn't available for us in terms of money but what he did was outline his thoughts about us (only talking about our investment) being unsecured creditors not actually investors in the true sense which surprised me. Then he showed me even the Liquidator was honest enough in his letter to refer to us as creditors/investors.

I honestly thought I was investing our money but it appears all I did was give someone our money who used it to make money for themselves and swirled the rest of it around.

I showed him the agreements that we signed up to and to put it bluntly he said they were prepared by someone with a crayola caddy set - in no way was that agreement any form of application for units or shares or hybrid equity (again his words) it was merely a way to solicit funds from us in some form of agreement.

He was quite honest and upfront and like I said I think it was not what I needed to hear but it is the story of what we are facing (well my wife and me) and even explained the complexity that the regulatory authorities may face in getting back monies held in accounts with traders (again paraphrasing here) if the money are held in accounts in the name of the traders account or company or forex management accounts.

It blew my mind and honestly made me angry.

To finish off I showed him your post Guacamayo and he was not of the same opinion of you whatsoever and now, the latest post from the Liquidator confirmed this.

What he said to me about the whole scheme makes everything more realistic and I now sit at 6.00pm Friday night reading exactly the same thing he told me.

Mr Iervasi really had no input at all about dragging anything out as you say and after listening to him and reading the initial judgement if anyone thinks that Courtenay House has or had any input is like me or like I once was not aware of the gravity of the matter.

I lived in hope that we get something back and whilst the Accountant told me otherwise, I convientenly ignored his opinion and what he was really trying to say to me.

Again his experience shined through and I now hope that the law does what it needs to do to the big boys.

They certainly got me to part with my money (over one quarter of a million dollars) so I am counting down the days to the meeting with the Liquidator and if there is one, the next court day so I can hear from Mr Iervasi and the rest of them, if they have any guts to speak.

I am now so angry that I am almost crying.

I will certainly be meeting again with my new Accountant atleast he is not trying to profit my stupidity.

I hope we all can stick together and get through this and it just got a whole lot harder.

People if you are in need of professional help, call LifeLine in Australia just like the Liquidator has said to do.

What an absolute disgrace this is and anyone on this forum who has said "Tony this and Tony that and we heard this..." all you have done is fallen a little deeper into the spell than I have.

 

[TonyMadeOff]

Some VERY bad news for everyone:

 

[Interested Viewer]

I have no reply as obviously there is none ! The truth is now revealed as deep down everyone feared. Those returns are not sustainable nor achievable. I am an accountant and have constantly advised against investing but even I am shocked by the level of treachery. I feel for all investors.

 

[big_kahuna]

I have no reply as obviously there is none ! The truth is now revealed as deep down everyone feared. Those returns are not sustainable nor achievable. I am an accountant and have constantly advised against investing but even I am shocked by the level of treachery. I feel for all investors.

Ironically, Tony Iervasi is auctioning his house at 33 Page Street, Pagewood tomorrow at 11.15am!
https://www.domain.com.au/33-page-s...um=email&utm_campaign=c-all-&utm_content=CTA-
I bet he doesn't dare show his face!

 

[Septemberrain]

I feel your pain correybeams.

Basically all, correct me if I'm wrong but the latest update from the liquidators advises that it's pretty much got all the characteristics of a Ponzi scheme and most likely was due to the fact that they did very little trading with the money and used other people's money to pay the investors.

There were about 500 investors and they were owing about between 150 to 190 million. They only have about 51 in frozen accounts.

In a nutshell they said you probably will get a little bit of money back if you are lucky.

I think we all didn't want to hear that from the liquidators and for me I'm quiet tired of letting this hope kill me slowly with anticipation. I'm now going to face the fact that I lost my money due to stupidity and easy money temptation I allowed my self to be stolen from right under my nose while I gave over the money bags. Time to move forward with what other options I have.

Good luck everyone. With everything that's coming.

 

[studentessa]

Guacamayo,

I have just joined this forum today, struggling to comprehend what my wife and I are going through and what our future holds.

Nonetheless, I was referred to an Accountant out in the west of Sydney by another investor so I could make sense of what I was facing and caught up with him on Wednesday afternoon.

He was present at the most recent motion (I think he called it a motion) and has his own thoughts on what was presented which I am not going to try and detail.

My Accountant was interested in helping but wanted to charge a fee to do an "investigation" for me however this gentleman was the complete opposite and spent two hours with the both of us and did not charge me a cent AND even offered to help compile and response to the Proof of Debt forms.

But what impressed me most about him was that he took the time and effort to explain the Liquidation process outside of what we are facing with Courtenay House. He explained to us the notional process of a Liquidation and even provided us with white label templates of forensic liquidations that he has been involved in (no names or anything) to explain the "road-map" of a liquidation and how many twists and turns it can take.

I am not going to comment on what is and isn't available for us in terms of money but what he did was outline his thoughts about us (only talking about our investment) being unsecured creditors not actually investors in the true sense which surprised me. Then he showed me even the Liquidator was honest enough in his letter to refer to us as creditors/investors.

I honestly thought I was investing our money but it appears all I did was give someone our money who used it to make money for themselves and swirled the rest of it around.

I showed him the agreements that we signed up to and to put it bluntly he said they were prepared by someone with a crayola caddy set - in no way was that agreement any form of application for units or shares or hybrid equity (again his words) it was merely a way to solicit funds from us in some form of agreement.

He was quite honest and upfront and like I said I think it was not what I needed to hear but it is the story of what we are facing (well my wife and me) and even explained the complexity that the regulatory authorities may face in getting back monies held in accounts with traders (again paraphrasing here) if the money are held in accounts in the name of the traders account or company or forex management accounts.

It blew my mind and honestly made me angry.

To finish off I showed him your post Guacamayo and he was not of the same opinion of you whatsoever and now, the latest post from the Liquidator confirmed this.

What he said to me about the whole scheme makes everything more realistic and I now sit at 6.00pm Friday night reading exactly the same thing he told me.

Mr Iervasi really had no input at all about dragging anything out as you say and after listening to him and reading the initial judgement if anyone thinks that Courtenay House has or had any input is like me or like I once was not aware of the gravity of the matter.

I lived in hope that we get something back and whilst the Accountant told me otherwise, I convientenly ignored his opinion and what he was really trying to say to me.

Again his experience shined through and I now hope that the law does what it needs to do to the big boys.

They certainly got me to part with my money (over one quarter of a million dollars) so I am counting down the days to the meeting with the Liquidator and if there is one, the next court day so I can hear from Mr Iervasi and the rest of them, if they have any guts to speak.

I am now so angry that I am almost crying.

I will certainly be meeting again with my new Accountant atleast he is not trying to profit my stupidity.

I hope we all can stick together and get through this and it just got a whole lot harder.

People if you are in need of professional help, call LifeLine in Australia just like the Liquidator has said to do.

What an absolute disgrace this is and anyone on this forum who has said "Tony this and Tony that and we heard this..." all you have done is fallen a little deeper into the spell than I have.

What a bunch of arseholes!
I've been told again and again when It looks too good to be true, it is just that.
Hope they are put in jail for the rest of their lives and lose all their assets.
Sickening!

 

[AntiSwiper]

Funny that Big Kahuna,

Wonder if Sapina is also going to be selling his house or if he even still lives there. I'm actually surprised Tony still owns that property considering he had so many millions he was playing with.

Officeholders and Other Roles Document Number
Director
Name: TONY IERVASI 1E7590818
Address: 33 Page Street, PAGEWOOD NSW 2035
Born: 06/11/1965, CALABRIA, ITALY
Appointment date: 21/07/2011

Name: DAVID SIPINA 7E7494227
Address: 26 Garment Street, PRAIRIEWOOD NSW 2176
Born: 22/03/1968, AUBURN, NSW
Appointment date: 24/11/2015
Secretary

 

[big_kahuna]

Funny that Big Kahuna,

Wonder if Sapina is also going to be selling his house or if he even still lives there. I'm actually surprised Tony still owns that property considering he had so many millions he was playing with.

Officeholders and Other Roles Document Number
Director
Name: TONY IERVASI 1E7590818
Address: 33 Page Street, PAGEWOOD NSW 2035
Born: 06/11/1965, CALABRIA, ITALY
Appointment date: 21/07/2011

Name: DAVID SIPINA 7E7494227
Address: 26 Garment Street, PRAIRIEWOOD NSW 2176
Born: 22/03/1968, AUBURN, NSW
Appointment date: 24/11/2015
Secretary

Funny that's probably one of Sipina properties , he told me he lived in Bronte.