Ponzi Scheme Managed Account Question - Courtenay House Trading Group

[Toldyaso]

Who is clinging to this notion? Haven't read any threads that show people still think this. Not sure why they would considering all the evidence including loss of millions of dollars. GT can't take other people's money. There are processes regarding their payment.

It seems that people speaking to Tony's lawyers someone would be hearing what they want to hear. I'm wondering why we are not pursuing our own lawsuits against Tony and his henchmen Or if someone has started would they be able to advice their firm they are using?

Try the facebook page. Cloud cuckoo land.

 

[Guacamayo]

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.

 

[Toldyaso]

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.

From what I have seen of the facebook page I totally agree with you. I can't reconcile what has been said by ASIC and GT and what these people are saying, completely 180 degrees from common sense. Either it's complete naivety or is something more sinister

 

[Septemberrain]

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 just to confirm the Facebook clients page seems to have a lot of members that are saying Toni and his crew are good guys and it's not a Ponzi Scheme? What is wrong with this world. Regardless of what people may believe or trying to convince other people of I guarantee post July there are a lot of people that will be filing their own lawsuits and taking several avenues to put these guys in jail.

 

[Septemberrain]

It is possible to have these "directors" prosecuted. There are 100s of Ponzi schemes and you know what's funny. They all sound like Courtenay House. Only difference is they are the most I've seen with that amount from the case studies I have seen.

Here is a case study. Austrac is another government agency that follows the money. I sure hope ASIC is speaking to them to confirm what was done with the banks.

http://www.austrac.gov.au/case-studies/investors-lost-82-million-ponzi-investment-scheme

 

[Septemberrain]

There was apparently a court case today? Does anyone know any results?

https://onlineregistry.lawlink.nsw....0668DirectionsCorporationList/courtenay house

In the matter of Grant Thornton Australia Limited

Party name(s)

Courtenay House Pty Ltd (In Liquidation)
Courtenay House Capital Trading Group Pty Ltd (In Liquidation)

Date

19 Jun

Time

10:00 am

Case number

2017/00151478

List number

24

Location

Supreme Court Sydney

Room



' + listingDetail.court_room_name | trustedHTML" ng-switch-when="_NULL_">Hospital Road


Court 3 Hospital Rd


Court address

Hospital Road
SYDNEY NSW 2000

Court phone number

1300 679 272

Jurisdiction

Civil

Presiding officer

• 
  Justice S Robb

Court

Supreme Court

Listing type

Directions (Corporation List)

 

[showmethe$$$]

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.

In the end the facts are the facts. I don't have a facebook account and even so I don't think I would want to join that page even if I did. If they have sourced some additional info about the investigation it would be great if someone could pass on via this thread. Guacamayo, you were pretty much on the money when you wrote a few weeks ago about there being $50 mill in their accounts, etc, etc. If you hear anything else could you please post. I understand that GT were in court a couple of days ago, but that could be for the seeking direction, as per what they wrote in their last update.

 

[Toldyaso]

In the end the facts are the facts. I don't have a facebook account and even so I don't think I would want to join that page even if I did. If they have sourced some additional info about the investigation it would be great if someone could pass on via this thread. Guacamayo, you were pretty much on the money when you wrote a few weeks ago about there being $50 mill in their accounts, etc, etc. If you hear anything else could you please post. I understand that GT were in court a couple of days ago, but that could be for the seeking direction, as per what they wrote in their last update.

I agree. From what I've seen of the Facebook page it's just a talking shop that's not really doing much. A few people there just trying to seem important. There are some comments on there that don't sound right and I think there are CH people or associates on there just trying to put people off. This Kassis bloke was obviously involved somewhere. There also seems to be a lot of collecting each other's info. Wouldn't mind betting a brand new best investment ever springs up after all this rubbish has worked thorugh

 

[MightyOwl]

update regarding what that court case was for those who are genuinely interested

a investor took the liquidator (GT) to court, since its a private matter no other information could be disclosed however this does not effect the liquidation

They should hold an meeting prior to july 31st and should be announced in the next few weeks More information should be provided at the meeting if they haven't released anything before hand.

In my opinion they will want to resolve this fast since they are holding onto people's money,but what is going to be intrested is how the money is going to be distributed.

1- cents to dollar
2-based on how long you invested and how much in payments you recieved will determine how much money you are eligible for.

Personally i think option 2 is the most fair way Reason being people who were invested since the start would of 2x-4x there money and people who joined at the end of it would of got near no money and also the people who put money into brexit but this will have to be seen and i think the liquidators are going to the supreme court to make an decision on the distribution of money according to the last release they posted.

Also the hold up is probably trying to determine final numbers on the money side of things and how much is missing and how to distribute funds the fairest way since there is a good chunk missing, to give them credit they did do a insane amount of work for being appointed only approx 1month.

Personally i can't wait for the court date to see what will happen to the directors and if they will be forced to sell there assests.

 

[MightyOwl]

Also to add to my above post, the people who will be for cents of the dollar distribution of funds and against the 2nd point i noted above have most likely been with CHTCG for years and have big money invested off with them.

there's no reason why anyone would want a cents to the dollar return over the other possible method unless you already profited a huge chunk from all of this.