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

[ewan_savage]

Wow. I guess they have it down to a science at this point...

 

[The_Informant1]

Cookies must be enabled. | The Australian

 

[ewan_savage]

Cookies must be enabled. | The Australian

The scheme targets so-called mum and dad investors with the promise of educating clients to make money from the notoriously risky investment strategy of currency trading.

Feel bad for people that fall for it.. good to see some investigation going on though.

 

[Pharaoh]

From that article:

Canberra resident Lynne Fairhall was one of thousands of people from across the world -- including the US, Britain, Spain and Germany -- who signed up as a YTR client.

After writing twice to the regulator -- and following investigations by The Australian -- Ms Fairhall yesterday received a letter from ASIC saying the regulator was assessing whether YTR had engaged in fraud. "As to whether the matter involves a fraud or a Ponzi scheme, I can confirm that these are issues that ASIC is considering as part of its assessment," ASIC wrote..

Now look back at the first post on page 1 to see who it was that started this thread.

Way to go Lynne!!!!

 

[edge81]

Well done Lyn, I have also been taken for a ride by YTR. Keep up the good work.

 

[Pharaoh]

Well done Lyn, I have also been taken for a ride by YTR. Keep up the good work.

Make sure to file your own complaints with the regulators. Any one scrap of information could be the one that makes a big difference in the outcome of the investigation.

 

[edge81]

Hey all, latest update.

Regulator moves on currency trading scheme Your Trading Room. | The Australian

 

[edge81]

Make sure to file your own complaints with the regulators. Any one scrap of information could be the one that makes a big difference in the outcome of the investigation.

I have just sent away my complaint to ASIC also.

 

[Pharaoh]

Excellent! If everyone who's involved will turn information over to the regulators, then figuring out who did what and where the money went will be much easier. With more information, the chances of at least some money may be recovered and the correct people ending up in prison instead of getting a slap on the wrist increases.

 

[edge81]

Hi all, the latest is that KPMG has been appointed as the provisional liquidators by the Court of Australia. There will be a hearing on 10 May 2012 to have the company "wound up on just and equitable grounds" - From ASIC letter I received today.