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Managed Account Question - Courtenay House Trading Group

Discussion in 'Has anyone heard of?' started by Guacamayo, Oct 8, 2016.

  1. AFSLRM

    AFSLRM Recruit

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    Ahhh here come the lawyers!

    Blake, there is zero chance this anyone was referred by a license Professional, no licensee in Australia would have put Courtney House on their approved product list. In fact, I know of 2 other licensed professionals that reported the scheme to ASIC in 2012/13. When the monthly excel spreadsheet (i.e. Monthly Statement) was was presented to me, I showed the client the formula in the spreadsheet and how they calculated their return. I don't know how people fell for this, the paperwork was amateurish, and thats being kind!
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Can we have any link to your law firm?
     
  3. MightyOwl

    MightyOwl Private, 1st Class

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    Anyone got update on the court case on 29th march? thanks.
     
  4. carnelian

    carnelian Private

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    I don't think we have any update on it. At least I don't have some update on it.
     
  5. Pharaoh

    Pharaoh Colonel

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    The company had offices people could visit. One part of it was even registered with ASIC. Investors with enough to put in could meet some of the board members in person. It had insurance policies they claimed protected clients (most of the policies seemed designed to protect the company, but the exact wording of one that might have provided some coverage for clients was "secret"). It had all sorts of other ways to reassure people, especially people who wanted to believe in free money.

    The company also had clear and obvious warning signs of being a Ponzi Scheme. It doesn't matter what other positive signs a company has. There are no "special exceptions" which allow a "unique" company or "genius" trader to defy the basic rules of risk and reward When you see those red flags, you should take your money and run the other way.
     
  6. Forthepeople

    Forthepeople Recruit

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    Has there been any updates relating to this matter?
    They are in court today from my understanding.
     
    qualifiedspectator likes this.
  7. qualifiedspectator

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    Does anyone know if criminal charges have been laid against any of those responsible (Iervasi, Sipina, Papoulias)??

    Also are any of these three still in Sydney? Any word on their whereabouts?
     

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