The Forex Project on Page 102 at Nobullshit Network Forum

heres_ur_sign · 11-08-2008, 04:27 AM

Those are good, think I heard them during the Enron job as well.

Seriously, if I may...

They can't prove this was a ponzi scheme because it wasn't, meaning that there were and are no investors in the Forex Project. Everyone sign a promisory note but almost no one read it. The FBI did read it and found it to be a legal note, a binding contract between Luis Rivas and another party stating that the other party would loan Luis money and said money would be paid back in full along with interest. Nothing in that contract stated how Lou would spend or not spend that money. It's the same as if some loaned me $1000 and I signed a piece of paper stating that I would pay them back that $1000 plus another $2000 over 12 months and I don't. This is a civil matter. All the items that where not in Lou's name could have been kept by those that had them and the trustee couldn't get them because he has no rights to them as the are not property of Luis Rivas or the Forex Project. Only problem now is that Lou should have reported all that money on his taxes and he didn't. The feds have him on that and none of the other will stand up in court...unless he continues along this stupid as hell defense he's working. so remember...any of that money left over after the trustee and his many hands get thiers, will more than likely go to the IRS. Lou gets 5-7, having already served 3 by the time this is over, he's out on good behavior by 2012. He serves no time for the civil suits and by 2014 he's setting on another multi million dollar account. Well unless the one world government hasn't taken over by then and we have a one world currency...ofcourse we still have to make pass the end of the world slated to come in 2012...oh and live through the whole anti-christ thing that I've been hearing about for 50 yrs now.

Man I love a good fairy tale. Anyone else wanna stir some shit?

zna · 11-22-2008, 08:19 PM

When was the dead line for the employees to file a claim for wages? The reason only a few did so was due to the fact that the rest of them didn't know about it!

pdb · 11-23-2008, 12:34 AM

Does anyone out there know if Lou is still scheduled to go to court in TN on Dec 15? Also something was stated about Lou trying to blame Angie and Pam for this mess, I'm sure there are alot of others out here that wants to know what is going on. Those of you that do know should share your info, we have just as much a right to know as you do!!

pdb · 11-24-2008, 04:08 PM

To start off I want everyone to know that I am not afraid to let you know who is writing this post. My name is Diane Bouton and I like many of you are victims of Lou and Angie.

I just got off the phone with Amy Russell at the US Attorneys Office in Chattanooga, TN. (423-394-9369 or 423-385-1341). Lou is as of this morning still scheduled to appear in court on December 15 at 9am, at the Federal Court House 900 Georgia Ave., Chattanooga, TN. Please be warned that this could change and I strongly urge each and every one of you to call the Friday before court to verify date and time.

I realize that many of us have little to no money at all now because of this mess but I am encouraging each of you to join me in court. We are all victims, we all have rights and we deserve to be seen if not heard. I believe that if we all unite in solidarity we can show the Judge just how many families lives have been affected by Lou and Angie.

I hope to see you there!

Below is a copy of the State of Tennessee's Victims Rights Law:
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Victim Rights in Tennessee

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Overview Of Tennessee Victim Rights

Constitution
In the November, 1998 general election, Tennessee voters approved an amendment to the Tennessee Constitution providing for victims rights.

The amendment adds the following language to Article 1 of the Constitution as a new section:

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To preserve and protect the rights of victims of crime to justice and due process, victims shall be entitled to the following basic rights:

1. The right to confer with the prosecution.

2. The right to be free from intimidation, harassment and abuse throughout the criminal justicesystem.

3. The right to be present at all proceedings where the defendant has the right to be present.

4. The right to be heard, when relevant, at all critical stages of the criminal justice process as defined by the General Assembly.

5. The right to be informed of all proceedings, and of the release, transfer or escape of the accused or convicted person.

6. The right to a speedy trial or disposition and a prompt and final conclusion of the case after theconviction or sentence.

7. The right to restitution from the offender.

8. The right to be informed of each of the rights established for victims.

The General Assembly has the authority to enact substantive and procedural laws to define, implement, preserve and protect the rights guaranteed to victims by this section.

BE IT FURTHER RESOLVED, That the General Assembly has the authority to enact laws to provide that a judge, attorney for the state, law enforcement officer or law enforcement agency is not liable for a failure or inability to provide a right enumerated in this section.

BE IT FURTHER RESOLVED, That the failure or inability of any person to provide a right or service enumerated in this section may not be used by a defendant in a criminal case as a ground for appeal, new trial, post-conviction relief or habeas corpus nor shall it be construed to authorize a court to set aside, reverse, vacate or void a finding of guilt, or an acceptance of a plea of guilty in any criminal case.

BE IT FURTHER RESOLVED, That nothing in this section shall be construed as creating a cause of action for money damages against the state, a county, a municipality, or any of the agencies, instrumentalities, or employees thereof. The General Assembly has the authority to provide for other remedies to ensure adequate enforcement of this section.

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Statutes

The Victim's Bill of Rights, T.C.A. 40-38-101, grants certain rights:

Rights of Victim and Prosecution Witnesses

Dignified and compassionate treatment.
Protection from intimidation/retaliation by the defendant and/or defendant's family.
Separation from defendant and family at court (when possible).
Victims shall upon request have a right to information about:

Court processes
Continuances
Plea Negotiations
Court times, dates, locations
Victim's role in each stage
Service agency referral
Victims Compensation
Voicing an opinion on a defendant's
Sentence or plea
Recovery of property as soon as legally permissible
Restitution (information about how to obtain restitution directly from defendant)
Priorty to victims of violent crime (due to legal requirements and limited resources)

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Victim / Witness Responsibilities: What you can do to help.

You may sometimes feel frustrated and discouraged--the process of criminal justice does take time. To avoid the frustration of possible delays, contact the victim/witness coordinator to confirm court dates. Some of the delays you encounter, however, are part of the system that also protects your rights.

Since it is not possible to give you all the information, please contact the Victim/Witness Coordinator or the District Attorney General for more information. Most importantly James Ramsey, the District Attorney General, or Debbie Hatmaker, the Victim/Witness Coordinator if you move or change your telephone number. We may not be able to get in touch with you otherwise. The DAG's Office and Victim/Witness Coordinator are concerned about you and your case.

Telephone Numbers

State Attorney General
615-741-3491
450 James Robertson Parkway
Nashville, TN 37243-0494

Board of Paroles
615-741-2107
Parkway Towers, Suite 1300
404 James Robertson Parkway
Nashville, TN 37243-0580

Division of Claims Admininstration
615-741-2734
Andrew Jackson Bldg., 9th Fl.
Nashville, TN 37243

Dept. of Corrections
615-741-2072
Rachael Jackson Building
320 6th Avenue N.
Nashville, TN 37243

Racer · 11-24-2008, 08:52 PM

As a point of clarification. Since the crime is federal there is no possibility for early parole. The federal system did away with parole in the late 1980's and to my knowledge it hasn't been reinstated.

antfarm · 11-24-2008, 09:07 PM

Quote:

Originally Posted by Davidmstr8

Steed is claiming this was a "Ponzi" Scheme, the company was insolvent in October 2007 and that Joy, Pam and Angie were insiders.

This was not a "Ponzi" Scheme, it lacks one crucial part to be a "Ponzi" Scheme. Lou did not have an exit strategy. Lou was simply a poor business manager.

The company was not insolvent (Could not meet it's debts) until after April 2008. Lou had at least $7,000,000 around the end of March. This is in the court records. This was what was in one InterbankFX account and one bank account so I am sure there was more money in other accounts as well.

Adversary Complaints have been filed against Joy, Pam and Angie. Steed is claiming they were insiders and the first to be filed against (An Adversary Complaint is a lawsuit coming from a bankruptcy).

You have to understand if Steed can prove a "Ponzi" Scheme he can use more laws to get more from everybody. The further back he can prove the company was insolvent the further back he can start claiming money from employees.

Many people voluntarily gave Steed everything when he asked. Now they are finding out they didn't have to give him much of anything. He took clothes people turned in and just gave them away. The only thing Steed is entitled to, are things belonging to the estate (Lou and/or the company) like some of the cars titled in the company name or real gifts.

Several employees have hired lawyers and they are talking with Cara and Steed at this point. You can look at the charges for work Cara has filed with the court. She listed everyone she talked to and it shows who has lawyers and who they are.

Steed and Cara are going through the records and to see what they can come after from employees.

Thank you for the information Davidmaster8. You seem to have a lot of information that is helping many of us so maybe you’d be willing to answer some questions I have about what you just posted:

You say Steed is calling Joy, Pam, and Angie “insiders” but how is that defined? If they had knowledge of any wrongdoing then charges would have been filed against them and there were none.

How do you figure this was not a “Ponzi” scheme? Are you saying that the promissory notes were loans and not investments? Even if they prove a “Ponzi” scheme, how did they choose October 2007 as the date of insolvency when promissory notes were the only business income and they had been taking notes since spring 2007?

What makes you think the trustee plans on going after any other employees? From what I’ve seen they have only asked for anything back from less than 30 of the 175 employees, still haven’t gotten everything back from half of those and yet still only filed lawsuits against three. Since they’ve only sued the mothers and grandmother of the babies then it’s pretty obvious they are just suing for show, don’t you think? (I also think that cinches your Grinch Award for Steed)

pdb · 11-25-2008, 01:02 PM

[quote=Davidmstr8;14893]Don't waste time trying to figure out who this is. I am not an investor, not an employee, not one of the many women that slept with Lou (and yes half of them worked for the company). I am just someone who is sick and tired of hearing all you people crying about this mess.

For someone who is not an investor or not any employee you seem to know quite abit about what's going on. So why don't you just come out and admit who you are? It sounds like I stepped on someones toes! Oh! maybe you are the latest and greastest of Angie's lovers!

forex2199 · 11-25-2008, 06:00 PM

I have a few friends who were burned and I was wondering,,, who are the main culprits other than Luis. Who were the ones getting people in to trade and give their money to the project?

Forexgurl · 11-29-2008, 05:34 AM

Quote:

Originally Posted by Davidmstr8

For those employees of the Forex Project not in jail, under indictment or on the run from the FBI and/or the IRS, Happy Thanksgiving. Oh wait, that only excludes Lou!

A simple "Happy Thanksgiving" would have been more appropriate than that remark. I hope your comments in the future continue to be constructive and useful to everyone that reads this board, like others you had made previously, not ignorant and tasteless like that one.

antfarm · 11-30-2008, 07:32 PM

Davidmstr8, you seem to know about the law so I appreciate your answers to these questions. Do you know if it is legal for the trustee to target only certain people in their attempts to recover Rivas’ estate the way that they have?
I mean they say they are doing it in a “desire to avoid actual and constructive conveyances and preferences” on the part of Rivas but they have themselves committed bias and preference.
How can they sue one person for their car and not another?