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International Foreign Currency

Discussion in 'Scam Alerts' started by thasler, Mar 30, 2009.

  1. thasler

    thasler Private

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    This is a follow-up to a post on FPA about legal action I've taken against IFC. As I said in the post, I had a lawyer send them a demand letter March 16 asking for restitution of funds lost outside the scope of the limited power of attorney for managed accounts; my funds were lost in two narrow periods of trading that were not part of managed account trading, thus a violation of SEC rules. Also, IFC has not registered with the CFTC as required under the Commondity Exchange Act. I can provide the exact citations.

    Patrick Gallagher, the registered agent and manager, told me they were not required to register because they're not a US company - well, they're registered with the state of Massachusetts, they have a local phone number, and list a Boston address...

    I can also provide emails and trading records to substantiate the claims.
     
  2. thasler

    thasler Private

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    I forgot to mention in the previous post that I talked to my lawyer today and he's prepared to take the case to federal court if IFC is not willing to settle through the FPA scam resolution process.

    Through the FPA I've been in touch with a number of other people who lost substantial amounts through IFC. For example, Breg Baron's group, in Chicago, lost over $1 million. John Wrenn in Boston lost $35,000, and there are others.
     
  3. jetset2009

    jetset2009 Recruit

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    IFC Criminal IN Actions

    IFC is an unregistered trading firm. They have no NFA or CFTC registration. RUN from these criminals. They are rookies. They will steal and lose your money. They did mine in December, all of it. I was an internet whore who thought being up $41,000 wit Kritch I would make money off the Forex. Boy, was I wrong. Don't be an internet whore and believe all the Las Vegas style lights here, the circus croonies and their bright lights, great looking web sites and side shows, this is all not real...they will drain your wallet to zero

    Mike Kritch called us several times a week telling about his operation and trading. He told me about his boats in the Bahama's and how he ran his business. We are getting together if you are interested in filing a class action lawsuit agianst IFC. If you are interested call me or e-mail to join. 708-543-0714 He said he would trade us back. That never happened. He said he had $20 million in a hedge fund. He said he had 93 investors who lost $27 million Dec 23rd due to patricks trading then the story changed to a software glitch when he was gone with his boys in Maine.

    I lost $100,000.00 on Dec 23rd and so did my wife's account. Mike set this up and told me if I were to trade lets say 60 contracts in your account I would wipe you out and he did 2 weeks later which is criminal. If you are dealing with a un registered firm that does not have a NFA series 3, 7 or 34 license run with your money. I lost in two firms the same month. Run. Traders nmust be registered. It is amazing the NFA has every hair on a nats ass defined in all their training and these criminals take our money unlicensed and loose it all..They should be licensed to be brokers traders by law in every country. I am here to tell you if they are not with the NFA or CFTC run..run run run..with your money..stops are too wide, your money is overtraded over leveraged and they will wipe you out ad draw down your account to zero.

    These guys are in violation of off shore tax avoidance, Blue Sky law violations, Non registered trading with the CFTC, get the picture..if your trader is not I have one who is CALL ME...CALL ME....AT LEAST A PROFESSIONAL WILL HANDLE YOUR FUND..

    Greg Baron

    708-543-0714
     
  4. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Mike Kritch has an FPA forums account. I wonder if he'll post a reply.
     
  5. jetset2009

    jetset2009 Recruit

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    Mike Your going Back to Trading or to Jail, your Choice

    Either way Mike & Pat you are going Back, and doing nothing the last 4 months like you have is an option but not the right one. While you are hiding ask yourself can you hide the family? The kids? The name? The reputation? Not with the Forensic detectives we have found on the internet out there today, that for $5,000 can bring you back one way or another...can you hide your boat? It is regiistered. Do you think the Bahamian governmnet will help you? FBI subpoenas records from Taurus and they know where you live...?? Where you going? Ever watch the movies how they zig zag around the world finding people? Do you think that is made up? And when they find you the right people ...you go to jail, the wrong people find you they might not think you have any rights.... just like we didn't..

    What happened to I am the owner? What happened to I am the only one who trades? What happened to I have $20 million in a hedge fund to back my trading? What happened to you watcching 9 screens and nobody touches the trades but me? What happened?

    $27 million...$27 Million lost in one trade...

    93 people...??? Someone is going to get pissed Mike...that is a lot of money ..Bernie Madoff & Patrick Gallagher & Michael Kritch..
    [/SIZE][/SIZE]

    One thing YOU HAVE TO DO IS CALL THE BOSTON FBI & CUT A DEAL TODAY, That you have to do or kiss the kids and family goodbye..
     
    #5 jetset2009, Apr 6, 2009
    Last edited: Apr 6, 2009
  6. jetset2009

    jetset2009 Recruit

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    Premeditated Loss

    Two weeks before the trade Michael Kritch said to me that if I traded 60 contracts on my account (I had $141,000 in my account) I would be wiped out. Two weeks later that is how many contracts were traded and wiped my fund out. Mike was on vacation. Criminal?

    Pre Meditated Financial Killing my account? Coincidental?

    Then he said cold blooded to ME after the loss, why should I trade you back? I told him there would be 93 people who would want to kill him.

    Like he said later my last email was 11 Feb 9 from him (I have all details of all emails from him) 85% of people lose in the Forex, their reason to wipe us out???

    Can any one check a bucket "opposite sided trading" with Taurus Global or are we all going to take it up the tail pipe?


    We all deserve to loose all our money by doing nothing I would rather take action and see some restitution and reimbursement.
     
    #6 jetset2009, Apr 6, 2009
    Last edited: Apr 6, 2009
  7. Scam Investigations Committee

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  8. jetset2009

    jetset2009 Recruit

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    6/1/2009 IFC Update

    A lot has happened since 4/15/2009 in April and May 2009. New facts have surfaced.

    1. The IFC web site has been labled a scam. 4/15/2009
    2. IFC shut down their web site after the scam labled passed by the FPA.
    3. Mike Kritch surfaces after that 4/15/2009 and has communication with Gerard of the FPA. Mike had been gone since the loss. Mike told Gerard he was working on a new trading model and testing it out.
    4. Still no phones are answered at IFC. You cannot get anyone there. They have closed.
    5. There is no physical address of IFC or Physical office to be found.
    6. An investor who also lost with his friends and family at IFC in the big Losing trade Dec 23 surfaces and says Gallagher told him he was the only trader.
    7. Kritch said Gallgher was the money man, Riley and him traded. That is the oppsoite of what the new investor who called us said we heard Kritch was the only trader.
    8. IFC is no longer at Taurus Bahamas-Gone They called us and told us to liqudate our accounts in May 2009.
    9. The first 6 months is over. Kiss all your money goodbye.
    10. Please keep a watch out IFC does not reappear under another labeled site
    11. The total amount lost in that trade is still unknown.
    12. Accoreding to the IRS you can write off all the Forex overseas loss on your taxes. Contact the FPA to get to me for the details. My CPA has done many traders who lost and never has lost an audit.
    13.


    FPA please keep guard.


    If you have any threads to add and have some information please post.

    Thanks
     

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