Discuss Ac-markets.com

[forexseth]

Green light to hedge with ACM

Ilya, how right you are, these positive postings have been generated, by the great ACM service!

I came here to vent my anger on the new NFA Compliance Rule 2-43 which has killed of hedging in the US. I was going to snigger at all those who don't have a European account, and that I was going to tell them of the advantages of trading through ACM AND the possibility to Hedge too., Hey....I just did!

Yep, it's true. I read on another forum that you can Hedge with ACM, went to double check on the chat and i can confirm it, here is the transcript. Thank god NFA can not leave the shores of the USA!!

Chat Window

Welcome to ACM chat support. An online representative will be with you shortly. Please wait...

Hello my name is Michael, I'm here to answer your questions how can I help you?

Michael: Good afternoon, how can I help you?

you: Hi i'm Theo, want to ask about the NFA regulation on hedging

you: you heard about it?

Michael: i have heard about it, but thats NFA a US regulation authority

you: Yes, but what does that mean, does it affect me if I open with a broker outside the US?

Michael: no sir we follow diffrent regulation

you: I am with Forex.com :-(

Michael: please follow this link to see our regulating authority

Michael: http://www.ac-markets.com/forex-broker/forex-regulation.aspx

you: Ok, i will. but I need to know that if I was to open with you, CAN I HEDGE??

you: also I hear you are going to be a bank, is this so?

Michael: yes sir we have finished the process of the application and FINMA is reviewing it

Michael: and about hedging this has always been an option with ACM

you: what about funding with swiss brokers? I hear you only allow wire transfer.

Michael: no sir we have many options from deposit. here is a link to those options.

Michael: Credit and Debit Card - Advanced currency markets - forex trading

Michael: and the wire funding information.

Michael: Wire Transfer - Advanced currency markets - forex trading

you: ok, cool! Do you use the MT4?

Michael: we will have that available for public use in late june

you: ok thanks I will get back if I need anything else

Michael: Please do not hesitate to contact us if you have any other questions.

Michael: Thanks for chatting with us. Goodbye.

Chat session has been terminated by the site operator.

 

[Freddy4X]

Answer the Question.

Mr. Ilya, acting like an ostrich with your head in the sand hoping these questions will go away just won't happen. Why do you deny answering these questions regarding the SEC MexBank lawsuit for fraud and your connection? I am sure we would all like to hear your side. Would you do us all the favor and answer the question once and for all.

 

[omarjennings]

More legal documentation of MexBank fraud

How’s this for additional information, let me add this gem of a finding from the US District Court of Northern Texas to show a further link between PANIOTOV, MEXBANK, FRAUD and MONEY LAUNDERING! Man, these guys are up to their eyeballs in it, they are swimming the Sea of Scam! Like Freddy4x says, give us an answer to all of this, how do you plead?
Honestly, how the hell do you expect anyone in their right mind to believe your lies, you speak like you are as pure as virginal white, and there are some people immune to your scam tactics! Here we actually prove you are as black and as evil as the Devil! Answer the Question!

IN THE UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF TEXAS ...
File Format: PDF/Adobe Acrobat - View as HTML
McDuff laundered the money through various accounts at MexBank SA de C.V. ("MexBank") and. Cash

Case 3:06-cv-00959 Document 28 Filed 10/02/2006 Page 1 of 5

IN THE UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION

FINDINGS AND RECOMMENDATION OF THE
UNITED STATES MAGISTRATE JUDGE
​

Id. at 5-6, ¶ I(12) & (13)).

“McDuff laundered the money through various accounts at MexBank SA de C.V. ("MexBank") before the funds were deposited into accounts at Cash Cards International, Inc. ("CCI") maintained by him”


Now add this to the SEC FRAUD report you guys already posted and man, these guys are up to their eyeballs in it, they are swimming the Sea of Scam!

SEC SUES INVESTMENT PROMOTER GARY MCDUFF FOR ALLEGED $11 M FRAUD​

“…Another site that has been set up to promote MexBank but has a different design can be found at www.forexmb.com, where the only contact information is given as "Fax: +1 201 917-2623" and an email address of info@forexmb.com. The domain name 'forexmb.com' was created on November 13, 2006 and is owned by Ilia Paniotov, of Forex Trading Financial Group Corp.,11 Partridge Lane, Putnam Valley, NY 10579, Tel.: 845-284-2541…”

 

[gale]

US legal papers seem pretty conclusive.

I have read the full offshorealert report, had to pay for the privilege. Well all I can say is that the proof is as concrete as a diamond, it all seems pretty much cut and dry that this MexBank (who I have never heard of BTW) and this guy Painotov really are the real deal scam artists. They must be pretty smooth talkers to have been able to scam so much, for so long from so many. I would imagine that in the land of coocoo clocks, chocolate and of course banking, the investigating authorities will bring to light MexBank's latest attempt at a scam, with fraud and blackmail being the side order and desert.

 

[linda barnes]

Searching for truths

My name is Linda Vivian Barnes. I am a court-appointed investigator from Montréal, Canada, engaging in collection of information of the Advanced Currency Markets // MexBank scandal. I will be traveling to the US, Mexico and Switzerland next week to search for the truths. If anyone has any leads or vital information on both sides of the story, please kindly share with me. Upon return, I will share my findings with you individually if the court permits. Thank you.

mailto:lindabarnes414@yahoo.ca

 

[oscarben]

The end of the line?

This forum is starting to be the talk of the town, it's like one of those Urban rumors! My buddy told me about it and his buddy told him sort of thing. kinda agree with the majority here, this MexBank and Paniotov look like the real deal scam artists, kinda reminds me of the old Ryan O'neal, Tatum O'neal film "Paper Moon". Hope they put them away to protect the public.

 

[ernest8fingers]

Hope not!

This forum is starting to be the talk of the town, it's like one of those Urban rumors! My buddy told me about it and his buddy told him sort of thing. kinda agree with the majority here, this MexBank and Paniotov look like the real deal scam artists, kinda reminds me of the old Ryan O'neal, Tatum O'neal film "Paper Moon". Hope they put them away to protect the public.

This is more interesting than I can stand. I will have to refrain from comment till the outcome( afraid freddy4x is hunting me) is released by the Swiss. I hope they dont take as long as our NFA- we could expire before its all over.

 

[fxchen]

Even in Canada!

Yes, we've even heard about it in Canada! I'm a finance student in London Ontario, my friends and me have started to do some research on this happening event! This is what we came up with in relation to MexBank fraud and it's affiliates such as MexBank traderIlya Paniotov. Looks like they had ACM lined up as their next prize victims. Going by the available dossiers on them, the length of these Ponzi schemes, with their scam, fraud and laundering, must have been pretty lucrative.


http://www.secreceiver.com/megafund/DOCUMENTS/Motion to Freeze Accounts.pdf


Key Points:

The bank records of Megafund show unequivocally that Receivership Estate funds were sentto accounts maintained at Cash Cards International, Inc. ("CCI") and held in the name of MexBankS.A. de C.V. ("MexBank"). On April 26, 2005, Megafund sent $175,835.00 to CCI for deposit inV-Cash Account no. 336463, in the name of MexBank. See Fund Transfer Request Form, Exhibit"A". Additionally, Lancorp sent $128,437.58 to MexBank's account at Union Bank of Californiaon March 29, 2005. See E-mail from Gary McDuff (Mar. 23, 2005), Exhibit "B"; Fund TransferRequest (Mar. 29, 2005), Exhibit "C"; Lancorp Account Statement (Mar. 31, 2005), Exhibit "D".4. The Receiver and his attorneys have conducted interviews with Stan Leitner, thedirector of Megafund, and Gary Lancaster, the director of Lancorp, who have both confirmed thatthose transfers were made for the benefit of Gary McDuff ("McDuff ')• They explained that McDuffwas instrumental in recruiting contributors into their respective investment programs and that thesepayments amounted to compensation for his efforts. See, e.g., Lancorp Records RegardingMcDuff/MexBank, Exhibit "E". The Receiver, with help from the Securities and ExchangeCommission (the "Commission"), has also conferred with the appropriate banking authorities inMexico and confirmed that MexBank is neither a bank nor a legitimate financial institution licensedthere.5. Based upon the bank records and these interviews, both the Receiver and an attorneyfrom the Commission traveled to Minneapolis, Minnesota on May 12, 2006 to depose CCFsPresident and meet with its legal counsel. At that time, CCI was notified that some of its accountscontained assets belonging to the Receivership Estate. That announcement was made on the recordby the Receiver and confirmed in a letter dated May 16,2006, a copy of which is attached hereto asExhibit "F". CCI also produced account records at that meeting confirming that various accountsEMERGENCY EX PARTE MOTION TO FREEZE ACCOUNTS - Page 3L:\MJQ\MEGAFUND 911.0110\P1eadings\Motion for Expedited Ex Parte Order Freezing Assets.wpd
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Page 4
received proceeds of Receivership Estate assets from MexBank.6. CCI' s account records show that, once MexBank received the funds from Megafund,they were distributed to other accounts at CCI. The supporting account records are voluminous and,therefore, a diagram of these transfers is attached as Exhibit "G" and fully incorporated herein forall purposes. As explained above, Lancorp records show that the $128,437.58 was sent to UnionBank of California. From there, $70,000.00 was routed to CCI in an account in the name of FirstGlobal Foundation, an off-shore entity controlled by McDuff. See Email from Sean Shiff (May 16,2006), Exhibit "H". McDuff then transferred at least some of those funds to the following accountsat CCI:Account NameV-Cash Account NumberSecured Clearing Corporation /Shannon McDuff186077Shiloh McDuff335856Robert Reese /Excel Financial Inc.335851Megafund assets were also distributed through various CCI accounts. As explained above,Megafund transferred $176,835.00 to one of MexBank's CCI accounts on April 26,2005. The nextday, $170,000.00 was sent to a CCI account held jointly by Gary McDuff and Southern TrustCompany.

 

[fxchen]

court-appointed investigator ??

My name is Linda Vivian Barnes. I am a court-appointed investigator from Montréal, Canada, engaging in collection of information of the Advanced Currency Markets // MexBank scandal. I will be traveling to the US, Mexico and Switzerland next week to search for the truths. If anyone has any leads or vital information on both sides of the story, please kindly share with me. Upon return, I will share my findings with you individually if the court permits. Thank you.

mailto:lindabarnes414@yahoo.ca

Yo Linda, what is the Canadian angle? Why is Canada interested in this, and why the French part?

 

[booker]

"YES" to hedging! and "Booo" to Paniotov and MexBank

By being able to hedge with ACM you kinda feel like you are at a Seminole indian Reservation casino! This is good news for US traders who wish to be able to do this style of trading.

Hey, I found something to add to this MexBank scam stuff, it's a Californian "Amended Desist and Refrain Order" that mentions Robert Reese and his buddy Gary McDuff, owner of MexBank. If he keeps cropping up like this in legal papers it really says a lot about the MexBank fraud scams by him and his traders such as Paniotov.


http://www.corp.ca.gov/ENF/pdf/2008/ReeseR_adr.pdf

STATE OF CALIFORNIA
BUSINESS, TRANSPORTATION AND HOUSING AGENCY
DEPARTMENT OF CORPORATIONS

AMENDED DESIST AND REFRAIN ORDER
(For violations of section 25110, 25210, 25230 and 25401 of the Corporations Code)​

The California Corporations Commissioner finds that:

...Robert T. Reese, IFA Holding, Inc., and Cypress Financial, Inc. promised investors returns based on bond trading through Dobb White & Co., and investors were told that interest payments in the program would be 1.66 percent per month. The purported purpose of the offering was to raise funds to engage in bond trading, with guaranteed security of principal. The bond trading program was described to at least one investor in a document written by Gary Lynn McDuff of Overseas Development Bank and Trust.

...These securities were offered or sold in this state in issuer transactions. The Department of Corporations has not issued a permit or other form of qualification authorizing any person to offer and sell these securities in this state.

...In connection with these offers and sales, Robert T. Reese, IFA Holding, Inc., and Cypress Financial NW, Inc., misrepresented or failed to disclose to investors that:
a. Robert T. Reese was an “Independent Financial Advisor” when he held no license authorizing him to act as an investment adviser;

...That Robert T. Reese knew Gary Lynn McDuff personally and that Gary Lynn McDuff was an experience banker who was trustworthy, when Robert T. Reese knew there were issues with Gary Lynn McDuff;

Issues with McDuff? Hmmm, wonder if it had anything to do with MexBank, scams, fraud and money laundering.

This is what Paniotov is trying to defend? This MexBank is the "Bank" (we now it ain't really one) we all know he trades (launders, scams and frauds) for??