Is Your Trading Room (YTR) GPT program a ponzi scheme?

[Pharaoh]

If investors are scared by negative commentary, it sounds to me like they should have been scared off long ago.

If this whole thing collapses, the sad part is that Lynne will end up with some "true believers" blaming her for the problem even though she only brought the complaints after the company went very far off the deep end. It's sadly common that when a too-good-to-be-true financial scheme collapses, some of the investors blame fellow investors who did the right thing by reporting the issue to the authorities.

 

[Globalfx]

I have a list of 566 GPT members. Most paid up front. The graduated payment system was only brought in late in 2011 when they were getting really desperate for cash. In addition there were several distributors who paid $50k-$100k for the privilege of selling memberships, plus there GPTers plus about 1500Platinum members who paid $5k for basic membership and some paid $400/month to stay in the site after 12 months membership ran out; plus investors put many 10s if not 100s of thousands of dollars in. Moderators were supposed to be paid but salaries stopped in August 2011. Repeatedly promised payment, they loyally stayed until stood down on February 3, 2012

I conjecture that a third to a quarter was was given to those who sold memberships, maybe half if you were a distributor. So if one was in ytr sales, one was compensated.

YTR's site was really big on promoting their hierarchical and organized "corporate" structure with explicit titles and profiles: with their "executive" of this and "director" of that, head of global sales , chief manager of US operations, SE Asia......etc. The pretense was almost comical given the abundance of the site's cheezey clip art.

We have all these great people, around the globe, around the clock and were so busy and successful that we don't have time to do Trade Shows, manage cash flow or even pay our employees

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[Pharaoh]

We have all these great people, around the globe, around the clock and were so busy and successful that we don't have time to do Trade Shows, manage cash flow or even pay our employees

LMAO!!! Sounds like they are too focused on the big picture to deal with minor issues like that.

 

[Deano79]

So Your Trading Room is no longer operating and it is the fault of the COO Joseph Nikolson and CEO Richard Waryn. Both the scam artists sought to move the shares in this company to a new company in order to take ownership and remove liability to investors and to line their own pockets with the profits and make the company more attractive to new investors that they intended to screw over.

What bought the company undone was that the owner and major shareholder found out their plan and tried to stop it resulting in the company accounts being frozen. This means no operating capital to continue business.

The underhanded tactics of Richard Waryn and Joseph (joe) Nikolson has resulted in thousands of members missing out on what they paid for.

A big warning goes out to other companies considering hiring Richard Waryn or Joseph Nikolson, they are working to their own hidden agenda. I am sure there are other stories that relate to these con men, especially Joseph Nikolson who clearly lacks any capability, well considering he was also axed from the Bonds group!!

Beware people, there is way more going on than just a company that has ceased to operate.

 

[Globalfx]

Company Ceasar or Seizure

So Your Trading Room is no longer operating and it is the fault of the COO Joseph Nikolson and CEO Richard Waryn. Both the scam artists sought to move the shares in this company to a new company in order to take ownership and remove liability to investors and to line their own pockets with the profits and make the company more attractive to new investors that they intended to screw over.

Shares? You mean physical private shares, which have a a value based on the percentage of direct capital buy in or by some some other value contribution.

And these COs, "scam artists," attempted to with draw their capital "buy in" and move it to a "new company?" How exactly does one accomplish this 'cashing out' transfer with out consent of the board of directors, and moreover, other principle share holders, and finally, the controller, and ultimately, once the lock out period has expired.

hmmmm,

What bought the company undone was that the owner and major shareholder found out their plan and tried to stop it resulting in the company accounts being frozen. This means no operating capital to continue business.

A big warning goes out to other companies considering hiring Richard Waryn or Joseph Nikolson, they are working to their own hidden agenda. I am sure there are other stories that relate to these con men, especially Joseph Nikolson who clearly lacks any capability, well considering he was also axed from the Bonds group!!

Beware people, there is way more going on than just a company that has ceased to operate.

So it sounds like it was a classic run on what was left of the company's capital, and I wonder how much exactly was that? Do you Know? Can You Guess?

Obviously, Not enough to pay employees....... the actual nut, bolts and back bone of the "future?" company?, were they too promised to become share holders in lieu? Do you Know? Can You Guess?

So how exactly did the scenario play out, I can guess but it just begs more ?s:

THE major share holder goes on an "off$hore vacation, while wittingly or fearfully, the other company officers seek to by pass the controller and cash out their original buy in...... or...... out right loot whatever is left?

But wait, company accounts are simply frozen?..... as in... illiquid at this time. as in the capital still exists....... just in accessible...... at this time.

All that is presently needed is a basic thawing process...as simple as a frozen TV dinner.

So all members and investors need is a microwave, a can of sterno, or a match.

And they're cool?

 

[The_Informant1]

I was employed by YTR.

I know first hand that Ray/Les Freeman was in complete control of the company and I have countless documents to prove it. His wife controls all the banking/booking.

They stopped paying superannuation benefits to employees a long time ago.

 

[Pharaoh]

I was employed by YTR.

I know first hand that Ray/Les Freeman was in complete control of the company and I have countless documents to prove it. His wife controls all the banking/booking.

They stopped paying superannuation benefits to employers a long time ago.

I love it when an insider pops up.

I've seen 3 categories of insider here in the forums. The first comes in, say's something like the above, then deletes the post later (that's why I try to quote posts like this) and never comes back. The second says something like that and then just disappears, never giving enough information for anyone to act on. Then there's the third kind. The third kind is rare and wonderful. That's the kind of insider who sticks around and starts posting evidence.

Please tell me you're an insider of the third kind.

 

[The_Informant1]

.....................

 

[Globalfx]

Where's the outrage?

I love it when an insider pops up.

I've seen 3 categories of insider here in the forums. The first comes in, say's something like the above, then deletes the post later (that's why I try to quote posts like this) and never comes back. The second says something like that and then just disappears, never giving enough information for anyone to act on. Then there's the third kind. The third kind is rare and wonderful. That's the kind of insider who sticks around and starts posting evidence.

Please tell me you're an insider of the third kind.

What really seems odd is that there are only a couple of actual YTR members posting on this thread.

A bit apathetic, if I was hosed for 1000's, I 'd harden up and sound off...... there's got to be a 1000 of them, were talking only a minor .1 % are heard here so far.

 

[The_Informant1]

Seems like my last post disappeared.

I only believe in business owners making big profits out of amazing products/services and by delighting customers. Definitely not scamming employees, customers and investors.

I'm here to help.