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Anybody heard of TIRN www.mytirn.com ?

Discussion in 'Scam Alerts' started by Rosario Delgado, Jun 19, 2008.

  1. euannaude

    euannaude Recruit

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    Hi,
    Let me give you some advise that I learnt the hard way. I have been scammed out of approx Euro's 30000.00 by 2 different companies offering good returns etc. The problem came 12 - 18 months later when I wanted to sell my stock or shares I had aquired.

    These people are now gone, I cant contact them, no reply to numbers I call and to emails.

    My advise is if you cant see the peoples white of their eyes dont part with a single cent in any currency. Then even then if you meet them be very careful.

    Hope this helps and have you googled these people, then the names of the board and senior managers. Then cross check if these are common names of celebs, this I did find out as well when trying to track down my "investments"

    Cheers
    Euan
     
  2. Sazu

    Sazu Corporal

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    A name comes to mind Bernie Madoff...
     
  3. jgscott

    jgscott Recruit

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    You are welcome Pharaoh.

    I was asked by a friend to invest in TIRN and like you saw it was not legit. Then a few weeks later Merrick was busted, it was in the paper, CFTC and SEC websites, etc. Then no word. I had to access court records to see what was going on, if anything. Only public mention was the PR from the Attny general here in central Florida which I sent Felix. Keep up the good work.
     
  4. jgscott

    jgscott Recruit

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    another tirn scammer sentenced

    [QUOFOR IMMEDIATE RELEASEJune 11, 2012Orlando, Florida - U.S. District Judge Charlene E. Honeywell sentenced Japheth Paramanandam (39, Winter Springs) to five years in federal prison last week for conspiracy to commit wire fraud, money laundering, and securities fraud. The court also ordered Paramanandam to pay $11,594,573.15 in restitution to more than 700 victims, and to forfeit more than $27,763.44 in assets, which are traceable to the proceeds obtained from the offenses. As part of Paramanandam's, the court also entered a money judgment in the amount of $15 million. To date, the United States Attorney’s Office has forfeited more than $9.6 million in assets in this case.

    Paramanandam pled guilty on December 8, 2011. According to court documents, Paramanandam and his co-conspirators operated a fraud scheme through a Panamanian company by the name of Traders International Return Network (TIRN). TIRN was incorporated by Paramanandam and his co-conspirators in Panama City, Panama on June 16, 2008. David Merrick was the company’s president. Paramanandam was a promoter of the scheme.

    Starting in May 2008, Paramanandam, Merrick, and their co-conspirators deceived investors by making claims, both via the internet and at business opportunity meetings, that investments in TIRN, would yield exceptionally high returns not achievable anywhere in the legitimate business world. Specifically, they claimed investors could receive between 9% and 22% in returns on their investment per month. TIRN advertised on its website that investments were made in the FOREX market, the buying and selling of commodities, the purchase of gold mines in Africa, and the buying and selling of real estate. These advertised investments were never actually made on behalf of TIRN's investors. TIRN investors were not specifically told where their money was being invested. TIRN's website merely indicated that it "pools investor funds" for the investments described above and that "professional money managers" manage such investments.

    Federal law requires licensing and registration to serve as a pool operator for the purpose of purchasing commodities. Neither Paramanandam, Merrick, nor their co-conspirators held any type of investment license with the National Futures Association or the Commodities and Futures Trading Commission. In total, TIRN collected more than $15 million from more than 700 investors (both domestic and international).

    Earlier this year, David Merrick was sentenced to eight years and one month in federal prison for money laundering and conspiracy to commit wire fraud, money laundering, and securities fraud. He was also ordered to pay $11,467,573.15 in restitution to more than 700 victims, and to forfeit more than $9.6 million in assets, which are traceable to the proceeds obtained from the offenses. As part of Merrick’s sentence, the court also entered a money judgment in the amount of $15 million.

    This case was investigated by the United States Secret Service. It was prosecuted by Assistant United States Attorneys Roger B. Handberg, I. Randall Gold and Nicole Andrejko.
     
  5. Pharaoh

    Pharaoh Colonel

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  6. jgscott

    jgscott Recruit

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  7. Pharaoh

    Pharaoh Colonel

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    I'm glad to see the article says that TIRN victims will be getting some of their money back.
     
  8. jgscott

    jgscott Recruit

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    yet another tirn scammer to the slammer

    Winter Garden man sentenced in $15 million scam
    By Henry Pierson Curtis, Orlando Sentinel


    3:00 p.m. EST, June 28, 2012
    Nathan Betances is the latest Central Floridian sentenced in an international scam that bilked more than 700 victims out of at least $15 million, according to the U.S. Attorney's Office in Orlando.

    The 34-year-old Winter Garden man received five years in federal prison Thursday for promoting a Panamanian-based company he founded that promised investors impossibly high profits.
    Called the Traders International Return Network, the company advertised monthly returns of 9 to 22 percent which prosecutors described as "exceptionally high returns not achievable anywhere in the legitimate business world."

    U.S. District Judge Charlene E. Honeywell ordered Betances on Thursday to pay about $11.6 million in restitution to the scam's victims.

    Two accomplices, David Merrick, 62, of Orlando, and Japheth Paramanandam, 39, of Winter Springs, were sentenced earlier this year after being convicted of money laundering, conspiracy to commit wire fraud, money laundering, and securities fraud. Betances was convicted of the same crimes, records show.

    All three claimed to be investing in foreign currencies, speculating on commodities and buying gold mines in South African as well as real estate. Describing themselves as "professional money managers" the conspirators did not tell investors where their money was being invested, prosecutors determined.

    None of them held any type of required licensing with the National Futures Association or the Commodities and Futures Trading Commission, records show.

    The U.S. Secret Service investigated the case, which was prosecuted by Assistant U.S. Attorneys Roger B. Handberg, I. Randall Gold and Nicole Andrejko. More than $9.6 million in assets have been seized.
     
  9. Pharaoh

    Pharaoh Colonel

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  10. mrgummo

    mrgummo Corporal

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    You know, when I first joined FPA, I chuckled at the military framework. Now that I have gotten serious about trading, I see we really are in a battle zone, complete with landmines, snipers, boobytraps, etc. And that is aside from the perils of actually trading! This has become my go-to site every morning before trading, and the place where I check in throughout the day to gather bits of info, seek advice, or otherwise contribute to this great community!

    A special thank you to Master Sgt. Pharaoh. Your diligence and passion have saved many of us a lot of heart ache!

    All the Best!
    Ron
     

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