Ponzi Scheme Managed Account Question - Courtenay House Trading Group

[Pharaoh]

Liquidators confirmed insurance is real and they have contacted the insurer to notify them of their appointment. That isn't to say that the insurance is going to be paid out, what the terms of the insurance are e.t.c. It would be nice if it came through but don't get your hopes up in regards to the insurance.

This insurance is one point which I find fascinating. There was a real company, even if it wasn't properly licensed to do what it claimed it was doing. That puts it ahead of many Ponzi schemes in the "how much cheap credibility can you buy" category. The company appears to have had some real insurance policies which supposedly provided some protection against employee misdeeds. That was a whole new level of "artificial credibility" in my book. It was almost enough to make me back off, except that the company always found the most convenient excuses to avoid having the details publicly shared, since this would somehow enable some mysterious people (such as employees of the company who would already have access to those details) to abuse the policies in some unspecified way.

Now that the liquidators are involved, I wonder how much, if anything, those "anti-Ponzi" and "protection from criminal acts by employees" policies will pay. For the sake of innocent investors who were lured in, I hope it's a lot. On the other hand, insurance companies are much harder to fool than unsavvy investors and are very good at putting in lots of clauses to protect themselves.

 

[Sothatsit]

If you had take the time to actually read my post, I also made it abundantly cleat that I'm not the only one who is owed an apology by the "Our free money machine is not a Ponzi!" cheerleading squad. The apologies owed are not for being wrong. The apologies owed are for the reprehensible conduct of a number of the cheerleaders in trying to use all manners of insults to drive out anyone who was trying to warn people and anyone who was trying to advise victims on how to file reports. A few of those went so far as to get themselves banned (the "leader" of a certain FB group managing to do so multiple times).

If you want to question my manners in any post I've made in this or any other thread, I suggest you find the post and hit the Report Abuse button so AsstModerator and his team can take a look.

I very much doubt we'll see more than one or two people come back and admit they were wrong. Those who made money want to hide to avoid drawing attention to themselves while praying that no clawback happens. Even without a clawback, some of them brought others in, just in time to lose money. That's going to make for some awkward family reunions. Those who openly promoted the scam even while knowing it was a Ponzi doomed to fail eventually are praying they don't get noticed and brought up on criminal charges. The average person who was just a "true believer" will likely stay away out of sheer embarrassment at being so easily fooled into rudely defending something that turned out to be a lie.

Well I made money bringing people in. Lots of it. I did it in good faith. But hey at this point who cares? Im richer than the average bear and in happy to admit it. Even if this was a Ponzi, you can't take what I have anyway. So if you want to clawback, come and get me. Pharoah your manners are atrocious. And I've reported all your posts but the moderator doesn't see a problem with them so I guess that's why you havent been banned. You must be being paid kickbacks for all the crap posts you make. Nevermind. Just another loser in a series of losers and commentators from their armchairs. Nice work mate

FPA Moderation Team Note: Several people tried to report some of Pharaoh's posts in this thread. In each case, it was because they disagreed with what Pharaoh said, not because of any misconduct on his part.

You have just admitted to making profits from promoting a scam and not caring about it. You have also pushed the envelope of civilized discussion too far. Criminals who are proud of their crimes are not welcome at the FPA. You have been banned.

 

[Pharaoh]

Let me see. I make a lot of posts to warn people against a scam and haven't recommended any alternative investments (while you happily admit to throwing people into the jaws of scammers and enjoying the profits), and somehow this means I'm the one taking kickbacks? Who would pay me to do this? I wonder if your masters at Courtenay House paid you to come here and discourage people from taking the right actions or if you did it all by yourself solely to try to save your own skin.

Maybe Mattress Bank (protecting investors since 1929) has been paying me all this time. I suppose they are the one company I have recommended at the FPA. I personally use Mattress Bank to keep my money, gold, and silver safe from scammers and even from bank confiscations (remember what happened in Cyprus?).

There's only one problem with this. Mattress Bank collects no fees from customers and pays no interest, so my personal branch has nothing inside but what I've put there. I supposed I could be paying myself.

Oh wait. There's another problem. It looks like AsstModerator and his people don't like people who are proud of their criminal activities. You did that and also acted like a buffoon and got yourself banned. I personally hope you are not just subjected to clawbacks from the government, but are also face civil suits and criminal charges based on what you did your your victims. Nice work mate. I hope karma pays you a visit soon.

 

[MightyOwl]

From memory there should be a court case with asic the directors of the company this week, anyone have more information on this? the travelban etc expires on September 4th and thats when they are in court with asic.

 

[MightyOwl]

Update on asic case if anyone is wondering.

On 1 September 2017, Justice Black made orders in chambers extending the orders made on 1 May 2017 to 5 March 2018 . The extension of the orders was sought by ASIC to enable it to continue its investigation into the management and affairs of the Courtenay House Companies. As a result the matter will not be listed in the Supreme Court on 4 September 2017 and will return to Court on 5 March 2018.　

The orders made on 1 September 2017 are a continuation of the orders restraining the defendants from carrying on financial services business and limiting the extent to which they can deal with their assets. The travel restraint order made in relation to Tony Iervasi also continues to 5 March 2018,

 

[MightyOwl]

Anyone go to court today regarding brexit funds ? please post outcome thanks

 

[MightyOwl]

anyone been attending the court hearings regarding brexit funds ?

 

[Septemberrain]

Its starting to get out to the media. We need to push more of it to get out to the media especially including his friends that were also making money from commissions.


http://www.dailymail.co.uk/news/art...vasi-Ponzi-scheme-Westfield-Bondi-office.html



http://www.theleader.com.au/story/5072916/shire-mayor-loses-975000-in-fake-investment-scheme/


https://www.google.com.au/url?sa=t&...201a053cf78c&usg=AOvVaw0AagYzJHhUEymIGX7Jaxyc

 

[Blake ForEX]

Hi All,

This is my maiden post, nice to meet you all. My names Blake, I am a lawyer in Sydney.

I am keenly watching the developments in the Courtenay House case and first wanted to express my sincere condolences to those victims who have been misled or deceived. Unfortunately, there continues to be very significant issues in regulating foreign exchange trading for retail investors and ASIC is doing its best to prevent unscrupulous behavior.

It is very commendable to see this community warn others of the danger of unlicensed operators and ponzi schemes.

As I understand it, a key part of Courtenay Houses business was obtaining new clients by way of referrals.

I am interested to know whether anyone was referred to Courtenay House by an Investment Advisor, Stockbroker or other Licenced Professional and lost money. If so, there may be a claim against the advisor, the proceeds of which could be covered by an existing Insurance Policy. I would be interested to hear from anyone via private message if this is the case.

The latest update is that Lord Kyle Lester Sheridan brought an urgent application seeking leave (the court's permission) to institute proceedings against the company whilst it is in liquidation to seek the return of $10.6 Million. Justice Brereton refused that application on the basis that other creditors had competing claims and that the ordinary procedure in liquidation is to have a claim determined by lodging a proof of debt with the liquidator. The decision is here: https://www.caselaw.nsw.gov.au/decision/5a73e4f2e4b074a7c6e1c012

The liquidators have commenced proceedings asking the court to resolve a question of which creditors are entitled to certain "Brexit" funds. That hearing is scheduled to proceed on 29 March 2018.

 

[AFSLRM]

Ahhh here come the lawyers!

Blake, there is zero chance this anyone was referred by a license Professional, no licensee in Australia would have put Courtney House on their approved product list. In fact, I know of 2 other licensed professionals that reported the scheme to ASIC in 2012/13. When the monthly excel spreadsheet (i.e. Monthly Statement) was was presented to me, I showed the client the formula in the spreadsheet and how they calculated their return. I don't know how people fell for this, the paperwork was amateurish, and thats being kind!