Ponzi Scheme Managed Account Question - Courtenay House Trading Group

[palmi]

why were my posts deleted adminstrator

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[shakeyboy]

Similar to a few of you I contacted ASIC and GT yesterday with regards to the auction that I personally attended Saturday, of the property in Tony's name. They told me the same, that all assets and accounts of the company and in the director's names have been frozen. I asked how with this being the case an auction could take place where the house was sold for over $2.4 million and was told they are looking into it. I know that with the current state of affairs indicating a shortfall of investors funds of somewhere between $110-140 million that another $2.4m is a drop in the ocean once spread out over the 4-500 investors. However it sickens me that if that sale goes through and any other selling of property and assets that we don't know about also manages to get through then that is a direct profit for these criminals that they will benefit from in the long term. After what is hopefully a lengthy prison sentence. On top of this if the government through ASIC or the NSW DOJ or whatever agency it falls under slaps a giant fine on Tony, David et al. then surely those fines (if paid at all which I know is unlikely) should be returned to investors. I'd be shattered if the government took any revenue from this. Is it possible to look into the tax affairs of the company and directors? Surely any money paid there should also be returned. I know I may be over reaching but so many people are going to go through significant hardship, potentially losing houses, assets, relationships and what not and if this can be avoided at all I feel like we should be kept informed and everything made transparent as quickly as it possibly can be.

I am fortunate in that although I had a great deal of money invested I can still live for the moment without truly significant strain. Six months from now though will be a different story, I will be on an absolute knife edge financially and I have to budget very carefully to even make it that far.

 

[studentessa]

Investors in CHCTG living on the northern beaches are having coffee at "the Local Corner" Seaforth roundabout on Thursday 10 a.m.
If you live in the area come along.

 

[Toldyaso]

Without a shred of evidence Pharaoh & Toldyaso have been quick to call this a "ponzi scheme". Where is your evidence?
Also you both seem to think a 7.5% return is an impossible task. There are traders out there who can double that.
I think you both may end up with egg on your face.

Egg on your face. Not me pal

 

[Pharaoh]

Damn, Toldyaso beat me to it.

So, other than people who just found out about the liquidation and are still in shock, is there anyone left who doubts this whole scam was a Ponzi?

 

[JoeBlo]

ANTI MONEY LAUNDERING - Possible grounds for legal recourse against Deposit Taking Institutions (CH/CHTG banking providers - NAB AND WESTPAC and others

I read a thread on the CH client FB group, about one of the members who mentioned there is legal recourse in our case against the banks (NAB and Westpac) and financial service providers to CH/CHTG , the FX and commodities brokers, who failed to notify ASIC, ATO and the federal authorities of the large sums of money of non statutory deposits (investors money) being deposited into their accounts.

This allowed CH/CHTG to go unchecked as the banks did not notify federal and government authorities of these large deposits under their obligation for Anti Money Laundering legislation.

CH/CHTG FX broking providers, would have been obligated to report these large capital trades to ASIC, and even to the ATO. If both financial service providers did follow AML laws, this would have been prevented. So, there may be a case for a class action against the banks, whos deposits are guaranteed by the CWLTH government.

It is logic to believe if the banks, brokers all followed standard AML laws, and reported the large capital being held in private company accounts, not statutory trust accounts, then this would have triggered further consultation and investigation by the banks and ASIC.

Nevertheless the banks are solely responsbile for not reporting these deposits to Federal Police and ASIC, this would have all been prevented when capital deposits reached $10M, let alone $180M.

 

[JoeBlo]

I believe ASIC has failed all investors, as they could have guided Tony and CH/CHTG with ongoing consultation, as he did run a registered manged fund. The banks did not report the large non statutory deposits, so they are also negligent in my opinion, they financial service providers, brokers, they also failed to seek consultation and investigation from ASIC


I believe discussion groups are being censored to focus on rants and complaints of no substance. I believe people need to hold all financial service providers accountable to ensure you recover your funds.
It is to suscpicious for GT to call it a Ponzi scheme without a completed investigation. This is an obvious diversion from all financial services providers responsibilities. These people will likely end up with $20M of the proceeds.

 

[showmethe$$$]

Hi, just trying to get my head around a couple of things. Based on the info from GT's last update they are saying that there are 400-500 creditors/investors that are owed $160-$190 million. That would mean an average (at the lower end) of $320K per person, and at the higher end of $475K per person. I'm in this for only (and I say this loosely) $200K which includes some Brexit money. Either I'm a smallish investor or GT have gone with the worst case scenario. Any thoughts based on what other people have invested?
Secondly, where on earth are the cops........and media? I would have thought they'd be well and truly over something of this magnitude considering what other stories have been on the news over the last couple of weeks.

 

[studentessa]

I originally invested $200000 then added $50000 for the Elite fund then $50000 for my daughter and then $50000 for the May Brexit.Total $350000. Ouch! Have only been in since May 2016. My other daughter who introduced me to this has $125000 in the fund. Funny how she was introduced by someone she has been seeing for counselling issues. I borrowed against my house. Stupid!

 

[studentessa]

It should be on Current Affairs but it might jeopardise the case?