English:

Some member asked me by email what I think about Imperiainvest and I want to give you my opinion here.

First of all I imagine that you heard this sentence before: “if something is too good to be truth then it´s not true.”

Well, do you really think that paying $50 you will receive $80.000?. And some other nonsenses:

“In conclusion it is to say that a TEP investor can receive a loan of 80,000 US$ with a one-time investment of US$ 50. Plain And simple. This loan should be used for trading on the financial markets emphatically. We have created a proper platform for that issue to give you daily profits of 1.2%, which are guaranteed by money market arbitrage situations.”

1,2% daily trading in arbitrage???, their own platform?. It´s too much for me and for someone else. If that was true then all of us would be millionaires!.

It´s a total scam based in Global Pension Plan idea. I think that they will receive a lot of members paying $50 and when they get enough money then they will dissapear without paying 1 cent. As you know many people will pay $50 because it´s few money with the illusion to receive that great amount. Don´t do it: you will lose this $50 and of course forget your illusions to be paid.

Español:

Un miembro de este programa me preguntaba por email mi opinión sobre Imperiainvest y quería dar mi opinión aquí.

Lo primero es que imagino que ya has oido alguna vez esta frase: “si algo es muy bueno para ser verdad entonces no es verdad”

Bien, ¿de verdad pensáis que pagando $50 vais a conseguir $80.000?. Y algunas otras tonterías:

“Concluyendo se puede decir que un inversor TEP puede recibir un préstamo de $80.000 con una simple inversión de $50. Así de simple. Este préstamo debería usarse posteriormente para tradear en los mercados financieros. Hemos creado la plataforma apropiada para ello y para daros unos beneficios diarios del 1,2%”, que son garantizados por situaciones dadas en el mercado de dinero por arbitraje.”

¿1,2% diario en arbitraje?, ¿su propia plataforma?. Es demasiado para mi y para cualquiera. Si eso fuera cierto todos seríamos millonarios.

Es un scam total basado en la idea de Global Pension Plan. Creo que captarán muchos clientes pagando esos $50 porque se trata de poco dinero con la ilusión de conseguir una gran cantidad. No lo hagas: perderás estos $50 y por supuesto olvida la ilusión de que te paguen.

English:

If you are trying to upgrade your Forum from phpbb2 to phpbb3 and you get some mistakes stopping this upgrade, then it´s possible that your problem could be solved with this solution:

Edit this file: 

phpbb3/install/install_convert.php

Find:

<?php
/** 
*
* @package install
* @version $Id: install_convert.php,v 1.50 2007/07/16 01:06:34 davidmj Exp $
* @copyright (c) 2006 phpBB Group 
* @license http://opensource.org/licenses/gpl-license.php GNU Public License 
*
*/

/**
*/

After these lines add these ones:

@set_time_limit(40);
@ini_set(’memory_limit’, ‘256M’);
@ini_set(’upload_max_filesize’, ‘128M’);
@ini_set(’post_max_size’, ‘256M’);
@ini_set(’max_input_time’, ‘-1′);
@ini_set(’max_execution_time’, ‘-1′);
@ini_set(’expect.timeout’, ‘-1′);
@ini_set(’default_socket_timeout’, ‘-1′);

Then find:

var $batch_size = 4000;

And change it to:

var $batch_size = 6000;

That´s all. If you previously installed phpbb3 and now you are going to convert your forum from phpbb2 to phpbb3, then click on Convert and follow the steps.

If you have some doubts let me know and I will try to help you.

Regards.

Español:

Si estáis intentando actualizar vuestro Foro desde phpbb2 a phpbb3 y recibíis errores que paran esta actualización, entonces es posible que vuestro problema pueda ser arreglado con esta solución:

editad este archivo:

phpbb3/install/install_convert.php

Luego encontrad estas líneas:

<?php
/** 
*
* @package install
* @version $Id: install_convert.php,v 1.50 2007/07/16 01:06:34 davidmj Exp $
* @copyright (c) 2006 phpBB Group 
* @license http://opensource.org/licenses/gpl-license.php GNU Public License 
*
*/

/**
*/

Tras estas líneas añadir las siguientes:

@set_time_limit(40);
@ini_set(’memory_limit’, ‘256M’);
@ini_set(’upload_max_filesize’, ‘128M’);
@ini_set(’post_max_size’, ‘256M’);
@ini_set(’max_input_time’, ‘-1′);
@ini_set(’max_execution_time’, ‘-1′);
@ini_set(’expect.timeout’, ‘-1′);
@ini_set(’default_socket_timeout’, ‘-1′);

Luego encontrad esta línea:

var $batch_size = 4000;

y cambiadla por:

var $batch_size = 6000;

Eso es todo. Si habéis instalado previamente (botón install) vuestro Foro desde phpbb2 a phpbb3 y ahora lo que queréis es convertirlo a esta versión, entonces haced click en Convert y seguid los pasos.

Si tenéis dudas hacedmelas saber y os ayudaré en lo que pueda.

Saludos.

English:

I have upgraded my Investment Forum from phpbb2 to phpbb3.

Previously you could enter through this link: http://noponzi.com/phpBB1 and now it´s: http://noponzi.com/phpBB3, but if you was entering through this link before: http://forum.noponzi.com then it´s the same and you don´t need to change anything (I have updated the same link to enter in the new address).

I also remember you that I have created a new Forum about Forex in this address: http://forex.noponzi.com and nobody has registered in it yet. Please think in that possibility if you are really trading in Forex or if you are simply interested.

Thanks,

Jose (Admin)

Español:

He actualizado mi Foro de Inversiones de phpbb2 a phpbb3.

Previamente podías entrar a través de este enlace: http://noponzi.com/phpBB1 y ahora es el siguiente: http://noponzi.com/phpBB3, aunque si ya entrabas a través de este enlace: http://forum.noponzi.com entonces puedes seguir entrando igualmente (he actualizado este enlace para entrar en la nueva dirección).

Os recuerdo que he creado un nuevo Foro sobre Forex en esta dirección: http://forex.noponzi.com y nadie se ha registrado aún. Por favor pensad en esta posibilidad si estáis realmente tradeando en Forex o si simplemente estáis interesados.

Gracias,

Jose (Administrador)

English:

Now you have a new room to talk about Forex and you can do it in English or Spanish language.

Please join my new Forum and share what you know about Forex with other Traders!

It´s totally new and I ask you to join and give it an opportunity to be a good place to talk about this great market as it is Forex. 

You can enter clicking on the link below or typing in your browser:

http://forex.noponzi.com

You can also see it as a new Page at the top of this Blog.

Thanks and enjoy!

Español:

Ahora tenéis un nuevo sitio para hablar sobre Forex y podéis hacerlo en lenguaje inglés o español.

Por favor uniros a mi nuevo Foro y compartid lo que sepáis sobre Forex con otros Traders.

Es totalmente nuevo y por ello os pido que os unáis y le déis una oportunidad para que sea un buen lugar de charla sobre este gran mercado como es el Forex.

Podéis entrar haciendo click en el enlace inferior o escribiendo en vuestro navegador:

http://forex.noponzi.com

También podéis verlo como una nueva página en la parte superior de este Blog.

¡Gracias y que lo disfrutéis!

According to the links below, e-gold has lost in a trial court in the disctrict of Columbia for violation of 18 USC 1960 which makes it a crime to operate an unlicensed money transmitting business. So the problem is that e-gold requires a license to operate legally. 

I posted before in this post about this case: they got a favorable ruling from the United States Court of Appeals for the district of Columbia to be heard. Now we have these bad news.

Now the question is: can they get licensed and operate legally again?

Tuesday, May 13, 2008
International Crimes: E-Currency subject to Licensing Requirement 

A trial court in the District of Columbia, 2008 U.S. Dist. LEXIS 37602, UNITED STATES OF AMERICA v. E-GOLD, LTD, et al., for violation of 18 USC 1960 which makes it a crime to operate an unlicensed money transmitting business. According to the trial court, a business can clearly engage in money transmitting without limiting its transactions to cash or currency and would commit a crime if it did so without being licensed. “ The Court rejected the claim that 18 USC 1960 does not apply to their operations because they never deal in cash or currency”.

Last year, the DOJ announced Indictment of E-Gold as follows: “A federal grand jury in Washington, D.C. has indicted two companies operating a digital currency business and their owners on charges of money laundering, conspiracy, and operating an unlicensed money transmitting business, Assistant Attorney General Alice S. Fisher of the Criminal Division and U.S. Attorney for the District of Columbia Jeffrey A. Taylor announced today. The four-count indictment, handed down on April 24, 2007, and unsealed today, charges E‑Gold Ltd; Gold & Silver Reserve, Inc.; and their owners Dr. Douglas L. Jackson, of Satellite Beach, Fla.; Reid A. Jackson, of Melbourne, Fla.; and Barry K. Downey, of Woodbine, Md., each with one count of conspiracy to launder monetary instruments, one count of conspiracy to operate an unlicensed money transmitting business, one count of operating an unlicensed money transmitting business under federal law and one count of money transmission without a license under D.C. law.”

U.S. Dist. LEXIS 37602

Title 18 of the United States Code (”U.S.C.”) sets out federal law covering Crimes and Criminal Procedure. Title 31 of the U.S.C. sets out federal law covering Money and Finance, including the Internal Revenue Code. 18 U.S.C. § 1960 makes it a crime to operate an unlicensed money transmitting business. Section 1960 defines what it means to be unlicensed and , what it means to engage in money transmitting. By those definitions, a business can clearly engage in money transmitting without limiting its transactions to cash or currency and would commit a crime if it did so without being licensed. The only definition in the United States Code for a “money transmitting business” per se is at 31 U.S.C. § 5330. Section 5330 defines a money transmitting business as one that, inter alia, is required to report certain cash or currency transactions to the Internal Revenue Service (”IRS”).

Sources:

Obtainingforeignevidence Blog

Nobsinvest

Fxpro, who belongs to EuroOrient Securities and Financial Services Ltd, will be now the owner of NorthFinance Broker on June 1st 2008.

Here is part of the letter from NorthFinance:

We would like to inform you about our decision to accept the offer from EuroOrient Securities and Financial Services Ltd, owners of FxPro.com, and sell to them the operations of North Finance as of June 1^st 2008. The reasons that let us to take this decision are the many changes that have taken place recently which affected our industry and in particular the provision of online trading services for Forex and CFDs.

Due to various events and the increasing demand from investors and regulators, the whole industry is moving under the supervision and regulation by competent financial authorities. We believe that our decision will benefit our common clients.

Who are EuroOrient and FxPro.com

EuroOrient is a European company, registered in the Republic of Cyprus (certificate 181344) and it is regulated in the European Union by the Cyprus Securities and Exchange Commission under license 078/07. The trade name “FxPro” and the domain “www.FxPro.com” are owned by EuroOrient. You can verify the information on EuroOrient and FxPro by visiting the websites www.FxPro.com and www.EuroOrient.eu.

FxPro offers competitive dealing spreads starting from 1.8 pips, plus other superior trading conditions to investors who would like to trade in CFDs for Forex, Stocks, Futures, Precious Metals; more than 120 financial instruments in total. FxPro provides investors with the highest standards of professional service and operates a 24/5 multilingual customer support. 

Clients Need to Transfer to FxPro.com by 31^st of May 2008

Clients in order to continue trading with the existing terms and conditions after EuroOrient takes over the operations of North Finance on 1^st June 2008, they need to follow 3 simple steps and accept their Terms and Conditions. By following this procedure, as of 00:01am (GMT+2) on 1^st June 2008, the clients will automatically become Clients of EuroOrient Securities and Financial Services Ltd. Until the 31^st of May 2008, all accounts (Cash Balance and Open Positions) will be under the responsibility of North Finance Co Ltd. All OPEN Positions and Positive Cash Balance of each account will be transferred safely to EuroOrient Securities and Financial Services Ltd where clients can access their account(s) with the same Login and Password Codes at no extra cost and no hassle.

Thanks a lot to TraderJ for all these files and information that you can download from my server in a zip file:

Legisi

As I know Greg McKnight has been charged but the case has not began yet. The thinking is that he will get 10 years once it´s all over but who knows… the SEC just closed him down some days ago and it is the beginning of this process.

Thanks to member okosh who posted in Jude´s Forum about this news. I want to share it with my readers too:

Greg McKnight (Legisi´s Admin) has been indicted!

I posted about this program before in this post.

When some people invest a great sum of money into these ponzis they always think that those bad news are not true (I am sure you are also one of these if you have been scammed before), they maintain the hope to receive a refund from these scam artists and they also trust them until it´s too late. Meanwhile some of these scammers are sending your funds to different locations/digital accounts, thinking how to avoid authorities, or simply dissapearing from the map.

Others simply never show his/her real name, using anonymous proxys to hide the IP and the real country where they live. But this is not the case with Greg McKnight. He even showed his real name and identification to some investors and so he gained their confidence. You could even read his real name and address in the whois of the domain, a very strange case.

Please avoid hyips like a plague. If you want to invest your funds there are other solutions. For example you can open your own forex account where nobody can withdraw your money except yourself, and then you can find a good trader to make a reliable profit paying him a monthly fee.

Sunday, May 04, 2008 / FBI

SACRAMENTO, Calif.-United States Attorney McGregor W. Scott announced that JOEL NATHAN WARD, 49, of Turlock, California, was sentenced today by United States District Judge Garland E. Burrell, Jr. to nine years in prison for masterminding a Ponzi scheme in which nearly 100 investors lost over $11 million. WARD was also ordered to pay restitution in the amount of $11,275,501.53 and to serve three years of supervised release after the completion of his prison sentence. He was remanded into custody immediately following the sentencing hearing.

This case is the product of an extensive joint investigation by the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation Division.

The Commodity Futures Trading Commission, the federal agency that regulates commodity futures and options markets in the United States, has noted the sharp rise and increasing complexity of foreign currency exchange (forex) trading scams. WARD, a frequent commentator and seminar speaker on forex trading, ran an elaborate forex trading scam through an investment fund he controlled called the Joel Nathan ForexFund.

According to Assistant United States Attorneys Benjamin B. Wagner and Ellen V. Endrizzi, who prosecuted the case, sentencing documents filed in the case show that WARD offered investors the opportunity to invest in the foreign exchange interbank spot market through his fund. Between early 2003 and November 2006, WARD took in over $15 million from investors. Of that, about 85% was diverted to other purposes, including promoting WARDs business interests, salary, travel and other expenses, and purchasing a foreign exchange trading school in Sacramento called Learn:Forex. WARD also used about $3.7 million to make Ponzi payments back to investors who sought to withdraw funds. According to trading records, he only actually traded about $2 million, and lost virtually all of it in the foreign exchange market. WARD concealed his diversion of funds by sending false account statements to investors purporting to show trading profits. He also defrauded investors in a second scheme relating to a purported real estate investment project in Mississippi. Nearly 100 investors lost a total of over $11.3 million.

Joel Nathan Ward earned every minute of the nine-year sentence the court imposed. He brazenly defrauded scores of victims out of over $11 million, stated US Attorney Scott.

Several victims spoke during the sentencing hearing, telling the judge about the financial devastation caused by WARDs conduct, and their hopes for restitution. In sentencing WARD today, Judge Burrell stated that WARD defrauded many people. He caused losses over $11 million, and many investors suffered devastating losses.

The defendant had proposed that he be allowed to remain out of prison while he attempted to generate funds to repay investors. In rejecting that plan, Judge Burrell stated that the magnitude of his crimes, the manner in which the economic crimes were committed and concealed, and the duration of the criminal activities required a lengthy prison sentence.

Interview with the trader: 

http://www.modbee.com/local/story/253956.html

More news:

Bloomberg

Usnews

Modbee

Findlaw