Ponzi Scheme Managed Account Question - Courtenay House Trading Group

[Pharaoh]

was unable to verify insurance personally, you can't call up a broker and confirm insurance information unless you are the authorized person/company on the policy.

Based on the last report from the liquidator they are verifying if the insurance is real and if the brokers will honour it, no confirmation on this just yet.

Just in case, I suggest digging back in this thread to the part about insurance. There's some info about the claimed policies and which companies those were supposed to be with. Share it all with the liquidator just to be sure.

 

[MightyOwl]

Just in case, I suggest digging back in this thread to the part about insurance. There's some info about the claimed policies and which companies those were supposed to be with. Share it all with the liquidator just to be sure.

From liquidators last report

8. I was told that the Companies had insurance that would return my money in times like this? We have been provided with a small amount of paperwork that suggests the Companies had some form of insurance. We are currently assessing the credibility of these insurance policies and whether they would respond to the current circumstances.

basically waiting further updates regarding this, wouldn't be surprised if they gave fake insurance policies, in the event they are real i would see the companies doing everything they can not to honour the insurance.

 

[namelesseeker]

I can confirm that the admin and leading members of the facebook page for Courtenay House clients have taken the position that there is little to no evidence of Courtenay House being a Ponzi scheme (despite the liquidator's statements to the contrary, and there being over a 100 million dollar hole in funds) and that all pressure should be placed on ASIC and Grant Thornton (the liquidators) to give clients their money back. There is a strange idea taking hold among the lead members of the group that Tony has in fact hidden( or perhaps simply holding) tens of millions of dollars in overseas accounts and would love nothing more than to return all that money back to clients.

I am getting the feeling that it is a consensus that is being forced onto the group by a lot of the members who have been with Courtenay House for a number of years and thus have recovered their entire initial investment, plus made a quite sizable profit - typically the same class of members who are against even the notion of a legal clawback since it would mean that they would have to give up monthly transfers they received from other client's funds (which is what GT have essentially said Courtenay House's operation amounted to). Any serious argumentation or disputation to the contrary may lead to members getting warnings. Thus an environment is created wherein anyone who has a serious objection to the prevailing "Courtenay House was a legitimate forex managed account operation" will prefer to stay silent so as to retain access to the group (a positive attribute of the group is that it provides a lot of updates on the status and progress of GT's work). Granted, there may in fact be no malevolence on the part of these members and they are simply misled, however I am not sure which is worse. Then again it could also be a tactic by close associates of the directors to remove any potential legal action against the directors and focus it elsewhere. I would agree that pressure should be placed on Grant Thornton to ensure that they speed through the process of returning money to clients, but to say that it is too early to start putting legal pressure on the directors for them to do the same seems disingenuous.

So I have spoken to many people, business and services and it seems that the administrators of the CH clients FB page took advantage of this forum and other places to have recruited half of the investors to join where they have full control of that page. It has been said that the reason for this, is to sabotage as much as possible the recovery of money for investors and to help the directors in their defence. Besides putting through confusion and unproductive distractions, it has been said that they have made so much money from convincing so many people to invest that they are scared they will be found out but in fact what they don't know is that the many people they mislead and deceived who are not even on any platforms of social media are in fact come together and will be filing criminal charges and suing for fraud. It has been rumoured and I don't know if this is true but these same administrators and others from the same circle who are friends of the directors were the actual ones who designed the scam in the first place. it is a real shame that people get fooled and cheated once so badly but to go through so easily again.

 

[GoldCoast]

Similar to a few of you I contacted ASIC and GT yesterday with regards to the auction that I personally attended Saturday, of the property in Tony's name. They told me the same, that all assets and accounts of the company and in the director's names have been frozen. I asked how with this being the case an auction could take place where the house was sold for over $2.4 million and was told they are looking into it. I know that with the current state of affairs indicating a shortfall of investors funds of somewhere between $110-140 million that another $2.4m is a drop in the ocean once spread out over the 4-500 investors. However it sickens me that if that sale goes through and any other selling of property and assets that we don't know about also manages to get through then that is a direct profit for these criminals that they will benefit from in the long term. After what is hopefully a lengthy prison sentence. On top of this if the government through ASIC or the NSW DOJ or whatever agency it falls under slaps a giant fine on Tony, David et al. then surely those fines (if paid at all which I know is unlikely) should be returned to investors. I'd be shattered if the government took any revenue from this. Is it possible to look into the tax affairs of the company and directors? Surely any money paid there should also be returned. I know I may be over reaching but so many people are going to go through significant hardship, potentially losing houses, assets, relationships and what not and if this can be avoided at all I feel like we should be kept informed and everything made transparent as quickly as it possibly can be.

I am fortunate in that although I had a great deal of money invested I can still live for the moment without truly significant strain. Six months from now though will be a different story, I will be on an absolute knife edge financially and I have to budget very carefully to even make it that far.

READING THIS OUT LOUD & CLEAR!!!!!

Athan Papoulias(The Now Group)

phone number: +61 437 345 627

Ie. 0437 345 627

(Supreme Court orders) The parties subject to the orders are Courtenay House Trading Group, Courtenay House, Proactive Property Services Pty Ltd, Sipina Enterprises Pty Ltd, TheNowGroup.com.au Pty Ltd, Tony Iervasi, David Sipina, and Athan Papoulias.

 

[GoldCoast]

PS: rest assured this is being followed!

 

[Toldyaso]

PS: rest assured this is being followed!

By whom?

 

[GoldCoast]

Well there you go.... Has anyone actually followed the lead??????

Lead= READING THIS OUT LOUD & CLEAR!!!!!

Athan Papoulias(The Now Group)

phone number: +61 437 345 627

Ie. 0437 345 627

(Supreme Court orders) The parties subject to the orders are Courtenay House Trading Group, Courtenay House, Proactive Property Services Pty Ltd, Sipina Enterprises Pty Ltd, TheNowGroup.com.au Pty Ltd, Tony Iervasi, David Sipina, and Athan Papoulias.

....It appears not!!!
So are there any innocent parties, with their lives at stake, risking it all to actually contribute here???

 

[Pharaoh]

So I have spoken to many people, business and services and it seems that the administrators of the CH clients FB page took advantage of this forum and other places to have recruited half of the investors to join where they have full control of that page. It has been said that the reason for this, is to sabotage as much as possible the recovery of money for investors and to help the directors in their defence. Besides putting through confusion and unproductive distractions, it has been said that they have made so much money from convincing so many people to invest that they are scared they will be found out but in fact what they don't know is that the many people they mislead and deceived who are not even on any platforms of social media are in fact come together and will be filing criminal charges and suing for fraud. It has been rumoured and I don't know if this is true but these same administrators and others from the same circle who are friends of the directors were the actual ones who designed the scam in the first place. it is a real shame that people get fooled and cheated once so badly but to go through so easily again.

Sad, but very likely true. The only question in my mind is whether the thrice-banned leader of the FB page is actively helping to set people up to be scammed again or if he's dumb enough to sit by as it happens in front of him.

 

[GoldCoast]

I'm interested in this approach. We would have to find a firm that would accept a no win no pay policy. Any one come to mind?

Hi studenttessa,I've been attempting to send you a reply msg, and contact you via msg in general. Thank you incredibly for ur heads up, I wasn't aware and are quite concerned re:repeat msgs posted from my account.
Putting it out there for my own safety, so people are aware *Important Note: since I located, and then leaked the direct phone number of one of the trio being investigated by ASIC & Supreme Court Re: CHCTG. My email account (used for FPA login) has been hacked! Whether or not this is just a coincidence, or amongst other fishy things with this mob is a legitimate reason to be concerned, I'm letting you all know so it's traceable!

 

[Toldyaso]

Having read the latest letter from the facebook group that has been sent (apparently) to ASIC I am sure something is not right. Blaming ASIC for this situation and still claiming it is a minor licencing issue that would be sorted out in five minutes is either extremely naive or downright dishonest, smacks of what the directors were telling 'investors' when the sh*t hit the fan in the first place. I wonder if these letters are actually getting sent to ASIC by the facebook group convener. Calling ASIC's replies bland and uninformative are also extremely naive or misleading. Why would ASIC simply give out information that could prejudice a court case and give directors information that they shouldn't have.

I would be very wary