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Green Tree Capital – Don't Gamble on This Scam

Discussion in 'Scam Alerts' started by Scam Investigations Committee, Apr 14, 2011.

  1. Scam Investigations Committee

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    Green Tree Capital – Don't Gamble on This Scam​


    A lot of investors don't have time to manage their own money. That's why some of them hire professional account managers to trade forex for them. The biggest risks with an account manager is that he might treat trading as gambling or that he might steal your money. It looks like Lyndon Lydell Parrilla of Green Tree Capital Investments did both.

    The complaints have been coming in to the FPA since January. Clients complained that they couldn't withdraw money from their accounts. This finally ended with reports that the company had become insolvent and two FPA Traders Court cases where GreenTree failed to respond to invitations to participate. Both cases ended in guilty verdicts.

    It turns out that the FPA wasn't the only group interested in Green Tree. The CFTC and the FBI were checking on the company and it's owner, Lyndon Parrilla also. He was arrested on April 12th, 2011 and has been charged with defrauding clients out of about 5 million dollars.

    According to the press release on the FBI website, Mr. Parrilla took the idea of gambling with clients money too literally. He didn't throw it away on risky trades like so many account managers do. Instead, they say he spent a little less than $1 million at casinos. We wonder if he drove there in the $130,000 car he's supposed to have bought with client funds.

    How could clients have avoided this scam? It wouldn't have been too hard for anyone who could find out the name of the owner of GreenTree. Lyndon L. Parrilla was permanently barred from NFA membership in January of 2010 after failing to cooperate with an NFA examination of his firm. His defense was to deny that he or his company had to cooperate with the NFA for various reasons, including...

    This was in spite of both he and his company being registered with and having previously agreeing to fully comply with NFA regulations.


    Always try to find out who owns, runs, and works for any company that you may want to hire to manage investments for you. Don't believe flashy sales pitches. Check to find out if the firm is properly licensed and registered. Spend some time doing research before letting someone else handle your money. If you don't, someone else may end up gambling away your money on the market, or in a casino.


    We wish thank the many FPA members who have diligently followed this case as well as those who participated in the votes in the FPA Traders Court. We want to give a special thanks to FPA member ReportFXscamsters for bringing the criminal charges to our attention.


    FPA Scam Finding against GTC and Lyndon Parrilla

    Original complaint thread against GreenTree by Traveler

    FPA Traders Court verdict for Traveler's case

    Original complaint thread against GreenTree by Slier

    FPA Traders Court verdict for Slier's case

    FBI press release for charges against Mr. Parrilla and Green Tree

    US Dept. of Justice press release for charges against Mr. Parrilla and Green Tree

    NFA permanently bars Lyndon L. Parrilla from membership

    FPA Review Page for GTCapitalInvestments.com

    Article on selecting a forex account manager
     
  2. Zygmunt

    Zygmunt Recruit

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    How people can be so naive?

    I keep reading different scam stories and turn my head in disbelief. How some people can be so naive, not to say stupid, to invest any money without doing due diligence? Some sheep deserve to be fleeced.
     
  3. Teodor Jackson

    Teodor Jackson Sergeant

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    I hope other scammers take it very seriously.

    This guy is to face 20 years in prison.
    Was his short lived fortune worth it?
     
  4. IGUMA NDIDI

    IGUMA NDIDI Recruit

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    So sad.

    Hello

    Account Manager are not suppose to have access to their clients account.
    The account will not be open in the name of the account manager or in his or her company but in the name of the client or his or her company. The client will transfer the LPOA to the Account Manager to trade on his behalf.
    The only time Account Manager will have access to cash is on the ground that he or she make profit and base on the % of the profit between the client and account manager then the Broker will divide it and credit the Account Manager performance account they created for him or her.

    If all this are in place how can the Account Manager have access to the the client's fund and use it for his or her personal expense

    Regards,
    Ndidi Iguma
     
  5. 4xmets

    4xmets Private

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    5 mil is not that much. i wonder how many stupid people gave him money? As for the forex managed accounts, aren't the funds held by a broker and only trades are carried by the manager?
     
  6. Galina_K

    Galina_K Private, 1st Class

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    Nobody deserves to be fleeced.

    It is cruel and inhuman to ridicule victims of liars, criminals and thieves.

    Not everybody is as smart as you seem to be, but that does not justify to be arrogant and cynical.

    Try to have a bit more mercy for others if possible and invest your energy in thinking about how to protect the naive sheep.

    The difference between a normal person and a psychopathic or criminal person is as big as the difference between a mouse and an elefant.
    A normal and good hearted person cannot imagine how evil and how sneaky and treacherous criminal minds think because such evil thoughts
    are not part of his character.

    It is easy for normal people to become a prey for criminals, just look what most governments do and it is not only Gaddafi or Hitler and Stalin,
    most governments are in the hand of criminals and psychopathic liars.

    Why did people vote for them ?
     
  7. Mandolin

    Mandolin Recruit

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    I agree with Galia_K, it's hard to live with the believe that these people exist and close to you, i have been deceived badly by UFXBank for forex, and found later on that i was within so many people that have put their fund and trust in that company's personnel who abused all of us using all kind of unethical ways. Loss is bad, but to accept it is worse, i look every day to other victims to have a case and raise it to the legal authorities and to protect others. We are not naive sheep; we are just normal people that got abused by bad ones.
     
  8. LEIGNEL

    LEIGNEL Recruit

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    Absolutely in accordance with what you wrote , GALINA .K
     
  9. Pete B

    Pete B Private

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    Being Take by Scams

    One only has to look back at the Bernie Madoff scandal to realize that even good, smart people can be taken in or scammed by a smart con. Madoff would still be cheating people today if he had not been turned in by his own sons.
     
  10. Johnny2pips

    Johnny2pips Sergeant

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    Ndidi, you are correct with what you say, but some unscrupulous managers require the money in THEIR account to trade for you. NEVER, NEVER allow this.
     

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