Finanzas Forex - high yield forex investment on Page 2 at Nobullshit Network Forum

vicimi · 02-18-2008, 10:18 PM

Here is the translation of TradexWorld SA. business activity as stated in their registration document (the original is written in french)

Quote:

to carry out all operations on the foreign exchange market and to carry on all financial activities, in particular council and management of fortune, services financial, studies and councils as regards placements, execution of mandates and investments; acquisition of a holding in other companies like all movable and real financial commercial deals.

okosh · 02-20-2008, 11:14 AM

Quote:

Originally Posted by vicimi

Here is some data where you can see how much is invested until today

Investors 12340

Total Active Capital
69,276,587.67 U$S

Capital with Pending Activation
12,401,013.90 U$S

TOTAL
81,677,601.58 U$S

LOL...You actually believe these numbers to be true??

If you answer yes then I have a bridge here in Australia for sale you might also be interested in

.....Nice opera house next to it with plenty of boats all around....Let me know if you interested

vicimi · 02-20-2008, 02:14 PM

Quote:

Originally Posted by okosh

LOL...You actually believe these numbers to be true??

If you answer yes then I have a bridge here in Australia for sale you might also be interested in

.....Nice opera house next to it with plenty of boats all around....Let me know if you interested

haha........I think I'll pass that opportunity!

These are investments by countries (first 20):

Quote:

España 19,690,231.76
Colombia 14,507,124.62
México 12,210,937.38
Eslovenia 5,299,032.32
Estados Unidos 3,186,890.86
Croacia 1,983,740.09
Francia 1,949,868.40
Ecuador 1,690,128.97
Italia 1,427,954.40
Panama 1,132,819.84
Bolivia 802,605.09
Argentina 529,524.43
Canada 464,261.55
Guadeloupe 457,647.79
Islandia 453,634.50
Peru 313,578.35
Suiza 247,040.37
Puerto Rico 245,044.44
Venezuela 164,143.18
Republica Dominicana 129,940.61

I know that the numbers from Croatia and Slovenia are real, because I am in contact with people who invested.

meminski · 02-20-2008, 07:29 PM

Hey Vicimi,

I tried to create an account to look more into it but it won't allow me unless a sponsor gives me their site. Are you a sponsor?

vicimi · 02-20-2008, 08:38 PM

Quote:

Originally Posted by meminski

Hey Vicimi,

I tried to create an account to look more into it but it won't allow me unless a sponsor gives me their site. Are you a sponsor?

The invitation link is in my signature but you can't see it. You can contact me here lifetimeis-gmail.com

joez · 02-20-2008, 10:00 PM

you better have a look at
http://cnv1.conaval.gob.pa/demo/repositorio/652_01.pdf

**allinvain** · 02-21-2008, 04:04 AM

lol...lovely...

meminski · 02-21-2008, 07:31 AM

too good to be true..

vicimi · 02-21-2008, 09:40 AM

Quote:

Originally Posted by joez

you better have a look at
http://cnv1.conaval.gob.pa/demo/repositorio/652_01.pdf

I was shocked when I saw this post, and I spent few hours on the net to find all info on that issue. This are the results. Please read and make your own conclusion!

This is going to be a longer post, because people can jump to conclusion that Finanzas Forex and Evolution Market Group Inc. are some kind of fraud. THEY ARE NOT!

First of all, Comisión Nacional de Valores (CNV) is agency that regulates banks, funds and other financial entities in Panama, therefore they are obliged to give official opinions on any kind of financial services of investment in Panama. As stated in the official warning ( June 2007.) document of the Agency
“Evolution Market Group, Inc. has not been issued any kind of license by the Commission, nor has it been authorized to carry out businesses as a financial intermediary of securities in or from Panama or investments manager and neither the mention investment fund has been registered.”
It can not be given license nor registration because of the following reasons also issued by the CNV

- following link explains the regulatory reasons

Comisión Nacional de Valores Republica de Panamá

2nd paragraph gives information that Forex investment is not regulated by any Panama law, therefore obliging the CNV to issue warning for the potential investors.

-translated with help of Babelfish

Quote:

2. Offer of Accounts for Compra and Venta in Currency Markets, also Known like Forex Markets.
Before the multiple complaints and denunciations that have been received from national and foreign investors on societies constituted and/or domiciled in the Republic of Panama which they offer to the general public the opening of accounts of investment in the Forex market, notices that the National Commission of Values has been pronounced through Opinion no. 5-2004 of 5 of May of 2004, ratified through administrative Opinion no. 5-2007 of 27 of May of 2007, in the sense that the regulation of this activity is not competition of the National Commission of Values, when not being contemplated in the Decree Law 1 of 8 of 1999 July, nor entering this type of financial instruments within the definition that of the term value before offers the described norm, nor is regulated by no other financial regulator in Panama.
Although the indicated activity does not seem to have applicable specific regulation beyond the contemplated ones in the general norms for the exercise of the commerce in the Republic of Panama, we were against the account before an activity of intermediation that implies to catch or to obtain resources of the public investor, to be invested and risk of the investor. By before exposed, this Commission puts in warning of the public in general the regulatory condition of this type of offer of accounts of investment in currency market or Forex, and next it indicates the names of the societies that until now have knowledge are offering to the general public to open accounts in the Forex Markets from the Republic of Panama:
1. Kerford Investments, S.A. through the society Reymount Investments, Ltd.
2. Evolution Market Inc. Group, whose commercial name is Forex Finances.
3. …

...to be continued...

vicimi · 02-21-2008, 09:47 AM

...part two...

- following link gives another proof that Forex investments is not incorporated in Panama’s legal framework, this opinion is given at the request of Cambra Duke & Co., the official representative of Evolution Market Group Inc. in Panama

http://cnv1.conaval.gob.pa/Opiniones/Opiniones_2007/Opinion_07-2007.pdf

-translated with Babelfish

Quote:

OPINION no. 7-2007 (Of 16 of 2007 July)
Subject: One has asked for the National Commission of Values of seating his administrative position with respect to if a Panamanian joint-stock company would be forced to obtain a license sent by the National Commission of Values, if this society dedicates itself to the business of receiving money of the public later to put it at hands of stockbrokers in the FOREX market.

Applicant: Cambra the Duke & CO, practicing attorneys, acting in its own name.

Object of Consulta:
The present consultation is framed in the request of Administrative Opinion of the National Commission of Values on the following thing:

"It would be a Panamanian joint-stock company, with social address in the Republic of Panama and Panamanian Nominal Directores, forced to obtain a License sent by the National Commission of Values, if the mentioned society dedicates itself to the business of receiving money of the public later to pass it to hands of stockbrokers in the market of FOREX. The gains are passed through the this one and stockbroker in market FOREX to the company to the public.

It is possible to indicate that the activity of the company is made outside the Republic of Panama in its totality, that the company is not administered in or from Panama and that the services are not offered to Panamanian nationals or resident people in the Republic of Panama."

Criterion of the applicant:
The position of the applicant with respect to the subject is transcribed next object of the present Opinion:

"We considered that a Panamanian joint-stock company, with social address in Panama, Panamanian nominal directors, whom outside Panama the activity carries out that above is enunciated and that in addition is administered outside Panama, does not have to be subject to the obtaining of license or authorization on the part of the National Commission of Values.

We based our criterion on the indicated thing by Agreement 5 of the 2004, specifically in the Article 1, numeral 2, that it establishes that one does not constitute in Administrator of Investments those that serve of accounting, secretariales, of address, directors, handling of relations with shareholders, payment of registry and administrative transference and other general services.

On the other hand, the company is not directly fighting with values or transferable financial instruments from Panama, as well as it either does not offer its services to Panamanians and/or residents in the Republic of Panama.

The company acts like a recibidor, colocador agent and of payment, but outside the Panamanian borders."

By means of Note CNV-8768-Leg(02) of 26 of June of 2007 required to the applicant explanation to him in the point relative to the pick up mechanism of the money of the public investor, who responded that "the money would attract through banking transferences that the clients would do to the account of the company".

Position of the Commission:
With relation to content of present request of opinion is important to know clearly some concepts contemplated in Decree Law 1 of 1999, by which CNV creates and market regulates of values, that allows the applicant to know a clearly vision of the subjects that compose their consultation, and to this end we will express our opinion in two parts.

The article 1 of the Decree Law 1 of 8 of 1999 July, defines what it is understood by value and details the financial instruments that are considered like so.

"Article 1: Definitions
Value are all bond, negotiable commercial value or another title of debt, action (including actions in treasury), straight stock-exchange recognized in an account of safekeeping, quota of participation, certificate of participation, certificate of titularización, fiduciary certificate, certificate of deposit, mortgage certificate, option and any other title, instrument or right commonly recognized like a value or that the Commission determines that it constitutes a value."

Based on the transcribed definition, it must be sure that the investments in currency markets (FOREX) are not assimilated to the value definition that recognizes the Decree Law 1 of 1999, concluding then that the operation of FOREX is not an activity regulated by the CNV, reason why the obtaining of a license is not required to operate the activity in the Republic of Panamá1. This, remembering always that we are making reference to currencies and does not contemplate other derived instruments that they have as underlying currencies.

Additionally we wished to show, that on the subject of FOREX, this organization already it has emitted his administrative position through Opinion no. 5-2004 of 5 of May of 2004 and more recently in Opinion no. 5-2007 of 23 of May of 2007, which before confirm the expressed criterion, with which we concluded the first part of the question of the consultation.

However, emphasized the previous thing, we will analyze like second part, which we considered the question essential of the consultation, that is to say, the obligatory nature or not to obtain license on the part of a society that dedicates itself to the business of receiving money of the public later to pass it to hands of stockbrokers in market FOREX.

We will initiate to indicate what the applicant details like characteristics of the society, to determine its similarity with the figures that our legal ordering gathers:
- Panamanian society, with social address in Panamanian Panama, nominal Directors?
- That it receives money of the public?
- That the activity is made outside Panama?
- That it is not administered in or from Panama?
- That it is not fighting with values or transferable financial instruments from Panama
- That it does not offer his services to Panamanians or residents in the Republic of Panama?
- That it acts like recibidor, colocador agent and of payment, but outside the borders.

... to be continued...