wwhitaker

Queen,

Call me.

Aunt W.

trademan83

Does anyone know what the hearing for Lou on Thursday, the 28th is for?

Forexgurl

Probably was this

Chattanooga Grand Jury Indicts "Con Man" Rivas
19-Count Indictment Issued Against Former Currency Trader
posted August 27, 2008

A federal court at Chattanooga has issued a 19-count indictment against Luis H. Rivas, former Ooltewah currency trader who authorities say swindled some $31 million from hundreds of investors across the country.

The indictment charges wire fraud, money laundering, criminally derived monetary transactions and bankruptcy fraud.

Rivas, who was on the lam before being captured in Topeka, Kan., in late June, earlier was indicted by federal authorities in South Carolina, where he had a satellite operation.

The new indictment says Rivas' primary operation was in Chattanooga, though he had offices in Spartanburg, Knoxville, Tulsa and Panama City.

It says he maintained numerous bank accounts, including the Bank of America in Chattanooga and InterbankFx in Salt Lake City.

The indictment says beginning as early as March 2007 that Rivas devised a Ponzi scheme "to defraud hundreds of individuals and to obtain money and property in the approximate amount of $31 million by means of false and fraudulent pretenses, representations and promises, and with reckless disregard for the truth of such pretenses, representations and promises."

It says Rivas would falsely represent to investors that he was earning high yields through currency trading and that they would get earnings as high as 96 percent.

Rivas paid some early investors with proceeds of later investors to make it look like the operation was successful.

Authorities said Rivas used the investor funds on exorbitant payments and gifts to employees in order to motivate them to recruit others.

It says he purchased houses, cars, furs, jewelry, limousine service, clothing, home improvements and furnishings, hotel suites and cash for "shopping trips" for himself and others with investors' money.

The indictment said Rivas falsely denied that he had a prior felony conviction.

It says Rivas made wire transfers to banks, including $170,000 from InterbankFX to Bank of America, $30,000 from Bank of America to Regions Bank in Birmingham, $25,000 from Bank of America to Silverton Bank in Atlanta and $670,000 from InterbankFx to Bank of America.

Other transactions allegedly using investor funds included checks of $163,000 to Land Rover of Chattanooga, $101,648 to BMW of Chattanooga on two occasions, $114,686 to Jaguar of Chattanooga and $69,972 to BMW of Chattanooga.

Rivas operated for about a year from a headquarters in Bonny Oaks, and he later set up the satellite offices for his The Forex Project.

Agents of the IRS and the FBI were among those investigating the case.

Queen

Besides all the other low life things that Angie Jefferson has been accused of here, this, to me, is the worst: She KNEW Lou had no intention of paying anyone back when she ran with him. How do we know this? Because she knew that I had the only record of who was owed what amount and where to send it. She cannot say that Lou lied to her and told her that he was going to pay everyone back because she KNEW they did not have the information to do so. Same thing goes for the others who helped them run.

She may bring up the database that she attempted at one time but she knew that database was not very good to begin with and so dated that it only listed about 270 of the over 540 promissory notes.

dave_walker

Joy I have no beef with you, you have always been kind and fair to me. I take exception to you claiming that you were the only one with all the client info. I have a copy of your spreadsheet, at the time you said it was 99% complete, so I have the same info. I shared that spreadsheet a handful, including Angie. Five different people had access to the scanned client files uploaded to online storage, among these was Lou, and he had access to any and all these files via any computer or his cell phone. Yes Lou had access to all the orginal client info even after the files were turned over.

Queen

Dave,

You had told me that you guys were not done scanning files in yet and the authorities have said that there were only about 300 files scanned out of over 540. I did give you a draft of names and totals but it had no addresses or contact information. You have been Lisa Cole’s boyfriend for quite some time and Lisa Cole is not only one of Angie Jefferson’s best friends but also the last person Lou told me he was speaking to, so tell me… are you inferring here that you told them you had enough information to pay people back when you obviously did not? Were you thinking they could just look any old “John Smith” up in a phone book and send him a $20,000 check?

trademan83

FRom KnoxNews

Local investors out $7M : Local News : Knoxville News Sentinel

Rivas bankruptcy Auction
Gravitt Auction Inc. - North Carolina Auctioneer since 1972.

dave_walker

There where 348 client folders in online storage, many of those folders held multiple notes by the same people. No it was not complete, but nor is the information that you have. We all know how Lou would "make deals" without a paper trail at all. I am pointing out that you are not the only one that had that information. You were not in Fla with Lou, you have no idea what deals he made there. I remember you going to see him in Fla but he quickly sent you back, obviously he had grown tired of your womanly charms by that point. Additionally, I think there was someone else that kept copies of all the notes written, they too would have all the client info.

I have talked with the trustee once, he asked if I knew who had what, who had been given what and if anyone had sold anything. I have not been "interviewed" regarding anything else in this case, so to answer your question...No I am not inferring that I have told anyone anything. Unlike some people, I have not talked up my job within the company nor have I led them to believe that I know more than I do. I can't figure out though why someone would want to barter the info they have for immunity unless they where apart of this. Unless they knew that this was a ponzi and doesn't want to go to jail for doing her part in it. I've said before, you've always been good to me, but when I heard you were seeking immunity for your part in ripping off hundreds of people for millions of dollars..well you just never know.

Queen

If Dave indeed told Angie that he had scanned in ALL the files, like he told us here at first, then I was wrong about her. She would have thought there was enough information to pay people back if Lou had lied to her and told her he had the money or wherewithal to do so. Angie I apologize. You were obviously ill informed. Dave, very few of those files had more than one promissory note in them and your assistant was trying to put each individual note into separate files before she scanned them in so I can see that if you didn't know that you might have made the mistake of thinking you had more information than you did.

I’m sure the FBI will tell you I do not have immunity and everything I told them was published in their criminal complaint against him so my mistakes are out there for the world to see. If it helps anyone who has been hurt by all this, though, then it is worth it.

antfarm

In the past I haven’t been very political and this isn’t a political forum to blog, but it is somewhat relevant and this may be lengthy. For all that we’ve been through, Ponzi scheme and all. I find our Government Officials doing similar underhanded deals. The oil oversight committee being bought out with parties, drugs, sex etc for their support. AIG, Auto companies, Credit Card companies getting away with murder, Fannie Mae/Mac and the banks being bailed out. We borrow money from some of these institutions, because of their schemes people can’t repay the loans so these companies are now defaulting and it’s the taxpayers who foot the bill.. Some get screwed twice in this and it’s the upper management of these companies who get off scott free for their bad decisions. Why are they bailed out, perhaps they supported certain campaigns. The money this war is costing us, which we are no longer wanted there and all this bail out money, could have gone to much better use. Why aren’t we allowed to vote on some of these issues. The Gov is taking money from us to pay another without fair representation. The difference between this and a Ponzi scheme is they don’t promise you anything, they just take your money and do what they owe people for. I don’t recall any of our Congressman or Senators asking our opinions or our voice to take to Washington. It’s not time for a “change” it’s time for an overhaul. They talk of having a debate. Who is debating? Are there only two people running for office? Where are all the independents, we need to hear their voice and opinions, especially if these two are the best they have to offer. The independents aren’t there because they aren’t in the back pockets of corporations and televisions stations who sponsor them. They don’t have the money to pay off anyone either. Where’s the Gov to help bail out all the investors, not only in this scheme, there have been others and much bigger. I guess we all should check to make sure that who ever we invest with is in bed with the Gov first so we have a chance to get money back. I wouldn’t have posted this here if I hadn’t heard similar comments from others. If anyone knows a good political site to be heard I like to know. I’m trying Bill Maher for one as soon as I find where I can write too. Any ideas or does anyone else have an opinion to share? You don’t need to take me verbatim on this blog, some of it is ranting and just fed up the way the Gov is being run. It just seems the Gov can get away with anything they want. Does anyone know what the Busch Doctrine is? That is a case in point.