Pharaoh
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Insurance against Ponzi schemes? I want to see a copy of the policy!
Ponzi Scheme Managed Account Question - Courtenay House Trading Group
- Thread starter Guacamayo
- Start date
Guaranteed profits become guaranteed losses.
Insurance against Ponzi schemes? I want to see a copy of the policy!
I'm guessing that Courtenay House Trading are following this thread (or it could be a coincidence), because a few days after Pharaoh's post they sent out their new insurance details for 2017, specifically stating that their crime policy is meant to insure against any criminal use of clients' funds, including Ponzi schemes. It did seem strange to me, and perhaps this is completely normal in investment insurance, that despite having hundreds of millions of dollars under management they are only insured for $20 million. They did provide an explanation, but I would still be interested to know if this sort of thing is considered standard in the Forex Trading/Investment industry.
I doubt it, I think that the insurance may have just been coincidental.
I'd be interested to hear about industry standards RE insurance against that type of thing as well.
I'm still waiting on Yokoonos response, back in Jan 15, 2017. Checked his profile, he hasn't been on since he posted that comment.
If Courtenay House Trading was following a thread, I think they would address those issues brought up, rather than let speculation get around. Or at least back up Yokoonos varied claims.
Remember the old "But placing their monthly returns into an excel you can see that they must be making returns otherwise they would of gone bust"
And then when you do the calculations, its actually 2 years at 4% and 4+ years at 2%. Where do these guys come from? Even the OP said they can do 7% returns, which is still over a year to eat your capital.
Brendo
I'd be interested to hear about industry standards RE insurance against that type of thing as well.
I'm still waiting on Yokoonos response, back in Jan 15, 2017. Checked his profile, he hasn't been on since he posted that comment.
If Courtenay House Trading was following a thread, I think they would address those issues brought up, rather than let speculation get around. Or at least back up Yokoonos varied claims.
Remember the old "But placing their monthly returns into an excel you can see that they must be making returns otherwise they would of gone bust"
And then when you do the calculations, its actually 2 years at 4% and 4+ years at 2%. Where do these guys come from? Even the OP said they can do 7% returns, which is still over a year to eat your capital.
Brendo
Pharaoh
Brigadier General
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If they really have such insurance and really want people to have confidence, ask them to share a copy of the insurance plan with you. Then separately look up the contact info of the claimed insurance company, call them, and verify that the plan is legitimate.
EURUSD
Sergeant Major
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This story remind me when I am also investing some money to independent broker and on agreement typed if occur losing money will they can bear all risk and as investor will always get fixed return monthly, indeed for several month everything is okey, but prolong time as admin carry out money from investor and said if he get bankrupt on trading, when investor looking to their head office get zonk no anyone
Hello everyone
signed up just to reply to this thread.
I am also invested in this company, after reading the above i have some facts i'd like to add and would appreciate your guys input if you guys want to continue the discussion.
-they have sent insurance policies over when requested, however i tried calling the companies up and they were refusing to discuss the insurance policy or confirm it exists because i wasent a authorized person from the company so there was no way to verify it ,also the insurance policy is done through broker and says "placed with 100% certain underwriters at llyod's".
-There is 4 PDF's and looks like they have insurance policies with 3 different companies for all different types of stuff, the company i called in particular as mentioned above refused to give any information and gave me the following response "
Unfortunately, licensing does not permit us to deal directly with you.
We therefore ask that you please contact your insurance broker
to sum it up im unable to verify the insurance provided because the companies is giving me not licensed to deal with you answer.
-Regarding investment they require it in minimum 50k lots recently they changed there entry level one to 50k minimum investment for new clients and return is paid annually with a 1-2% return/month so new client's dont see returns until 12months later on the initial capital, they force you to invest in this before you can invest in there higher return profiles which are paid monthly fixed return rate.
-they pay out, but like you guys stated earlier , at the entry level profile it would take 4years to double your money, so how it's set up you wouldnt double your money in a fast amount of time unless you invested 6 figures which is encouraged with how all there return profiles are set up. also there higher profiles they sometimes pay a lower rate, of 1-2% less than the targeted because they said its slow months and not working as hard.
-they also do special offers with 20% return 25% risk for 1month of trading no idea on results from that as its apparently limited spots and 30 days trading basis.
-also previously mentioned they won't disclosure any trading history of trades/account data you hold with them, its basically give them money and they give you x % return, so unable to verify the insurance policies and no account trading history
so to sum it up,there paying out the returns that are fixed constantly,sometimes the returns are lower than projected but they pay out majority of the time yet to see a losing month.
but alot of this seems really dodgy so really at a loss wether to continue doing business with them or just ask for all my capital back
signed up just to reply to this thread.
I am also invested in this company, after reading the above i have some facts i'd like to add and would appreciate your guys input if you guys want to continue the discussion.
-they have sent insurance policies over when requested, however i tried calling the companies up and they were refusing to discuss the insurance policy or confirm it exists because i wasent a authorized person from the company so there was no way to verify it ,also the insurance policy is done through broker and says "placed with 100% certain underwriters at llyod's".
-There is 4 PDF's and looks like they have insurance policies with 3 different companies for all different types of stuff, the company i called in particular as mentioned above refused to give any information and gave me the following response "
Unfortunately, licensing does not permit us to deal directly with you.
We therefore ask that you please contact your insurance broker
to sum it up im unable to verify the insurance provided because the companies is giving me not licensed to deal with you answer.
-Regarding investment they require it in minimum 50k lots recently they changed there entry level one to 50k minimum investment for new clients and return is paid annually with a 1-2% return/month so new client's dont see returns until 12months later on the initial capital, they force you to invest in this before you can invest in there higher return profiles which are paid monthly fixed return rate.
-they pay out, but like you guys stated earlier , at the entry level profile it would take 4years to double your money, so how it's set up you wouldnt double your money in a fast amount of time unless you invested 6 figures which is encouraged with how all there return profiles are set up. also there higher profiles they sometimes pay a lower rate, of 1-2% less than the targeted because they said its slow months and not working as hard.
-they also do special offers with 20% return 25% risk for 1month of trading no idea on results from that as its apparently limited spots and 30 days trading basis.
-also previously mentioned they won't disclosure any trading history of trades/account data you hold with them, its basically give them money and they give you x % return, so unable to verify the insurance policies and no account trading history
so to sum it up,there paying out the returns that are fixed constantly,sometimes the returns are lower than projected but they pay out majority of the time yet to see a losing month.
but alot of this seems really dodgy so really at a loss wether to continue doing business with them or just ask for all my capital back
Hi guys got a response from lloyds.
@ pharoah if you can please shed some advice , looks like no one is willing to discuss the insurance policy even llyods themself.
I would like to take this opportunity to explain that Lloyd's is not an insurance company, but is an international insurance market where syndicates of underwriters transact business for their own account and risk. Lloyd's is the service provider of the market and does not itself underwrite insurance. Individual insurance policies are arranged by firms of insurance brokers, authorised to transact business in the Lloyd's Insurance Market with the syndicates and it is these firms who maintain the records of the contracts written and not Lloyd's centrally. From the information provided, therefore, I am unable to confirm whether any insurance policy has been underwritten at Lloyd's as purported.
Notwithstanding the above, I must add that ordinarily, even in the event I was able to identify a contract, I would be unable to share this or any other policy specific information with a third parties, extraneous to any contract of insurance, absent express written permission from the (putative) insured.
@ pharoah if you can please shed some advice , looks like no one is willing to discuss the insurance policy even llyods themself.
I would like to take this opportunity to explain that Lloyd's is not an insurance company, but is an international insurance market where syndicates of underwriters transact business for their own account and risk. Lloyd's is the service provider of the market and does not itself underwrite insurance. Individual insurance policies are arranged by firms of insurance brokers, authorised to transact business in the Lloyd's Insurance Market with the syndicates and it is these firms who maintain the records of the contracts written and not Lloyd's centrally. From the information provided, therefore, I am unable to confirm whether any insurance policy has been underwritten at Lloyd's as purported.
Notwithstanding the above, I must add that ordinarily, even in the event I was able to identify a contract, I would be unable to share this or any other policy specific information with a third parties, extraneous to any contract of insurance, absent express written permission from the (putative) insured.
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