Finanzas Forex - high yield forex investment on Page 6 at Nobullshit Network Forum

vicimi · 04-08-2008, 08:10 PM

Quote:

Originally Posted by JoseLeon

In a spanish newspaper I read very bad news about FinanzasForex and his owner German Cardona posted by CNMV (the spanish "SEC" to make you understand it easily), this person was involved in great losses to many people in his last businesses from 2002 as telephony, betting, games...

This program offers to referrals good comissions and also bonds in the form of luxury cars and some help to buy a house (even with 60.000 eur). The profit is not realistic if they really trade Forex (from 10% to 21% constantly). With this referral program the company is getting 600 clients per day and about 1.200.000 eur.

According to CNMV this company actually has about 18.500 clients all over the world with a balance of 77 million of eur.
These income are transferred to Crowne Gold (American company) and then this company "supposedly" send the funds to Dukascopy.

Some of the most active promoter is Santiago Fuentes, who posted in his website that they were going to be regulated by CNMV, but CNMV says that it is not true at all.

Source in Spanish:
Interstitial - Noticia

These are very bad news. Thank you for that info. I will contact their support , and I will post their response.

All i can say is that German Cardona was not involved in these great losses in 2002., only Santiago Fuentes. Nevertheless, red flag is up.

JoseLeon · 04-09-2008, 11:11 AM

Well vicimi, it only means that Finanzas Forex is not registered in CNMV but it is very difficult to be registered with an investment program in Spain. Practically only Banks and some other big programs are allowed.

I don´t say that it´s a ponzi or something like that, in fact they could really trade in Forex if they are doing it with more than 1 trader, but you must know that it´s very very difficult to get that profit constantly. That´s why I have my suspects. I would like to see a proof of trading.

And I think that they are not doing well to attract money in that way because many peoplo could think that they are really a ponzi. With those funds every day they can pay that profit without trading and the comissions are very big. So, if they are trading and giving that high profit and also giving those great comissions to promoters then more suspects... but who knows.

vicimi · 04-09-2008, 02:01 PM

Jose,

I understand that this warning from CNMV doesn't mean that FFX is a scam, but they announce that they are in the process of getting licenses from CNMV, that's the problem.

This is the mail that they have sent to all investors from Spain

Quote:

Estimados Inversores,

Como Vds. Sabrán, nuestra Compañía se encuentra en fase de mejoras en todas las áreas.
Actualmente, nos vemos inmersos en procesos legales, con el fin de adquirir más fuerza jurídica, tal como les veníamos anunciando.

Con el fin de facilitar estos procesos a la Compañía, y en concreto a la adaptación a la Normativa española en este sector, les solicitamos a todos ustedes su colaboración en una serie de medidas de vital importancia y que toman a partir de hoy un efecto inmediato.

1.- Abstenerse de cualquier actividad promocional o de información sobre nuestra compañía o el mercado Forex.
2.- Por actividad promocional se entiende: reuniones -privadas o públicas-, envío de e-mails que hagan referencia a nuestra compañía y a sus planes de inversión, envío de comunicados en blogs y foros, presentaciones PPS, o cualquier otro soporte físico o virtual, etc.
3.- Así mismo, les comunicamos que queda terminantemente prohibido el uso, exposición, promoción y publicación de nuestros logos y de los nombres de la Compañía,.

Si Vd. Tiene alguna página web que haga referencia a nuestra Compañía, así como logos y presentaciones, les solicitamos que su sitio web deje de estar "on-line" mientras realicen sus actualizaciones y correcciones, según lo indicado.

Queremos recordar que estas medidas también han sido tomadas por otras grandes empresas.
Así mismo, les hacemos saber que, aquellos promotores que incumplan todas estas medidas y hagan caso omiso a estas indicaciones serán dados de baja de la Compañía inmediatamente.
Esperamos sepan comprender la importancia de estas medidas, que repetimos, es en beneficio para todos.

Muy cordialmente,

La Dirección

Finanzas Forex. Sumando día a día

Also, as of today, all investors have to send signed contracts (certified by a notary) with ID documents and proof of residence.

That is all for now

JoseLeon · 04-09-2008, 07:56 PM

Vicimi: they also posted that it´s forbiden to promote the program in Blogs or Forums

0lancer0 · 04-10-2008, 06:08 AM

so what about those debit/credit cards? any info on that?

vicimi · 04-10-2008, 11:22 PM

Quote:

Originally Posted by JoseLeon

Vicimi: they also posted that it´s forbiden to promote the program in Blogs or Forums

I know, but I didn't receive anything about that.....for now.

vicimi · 04-10-2008, 11:32 PM

Quote:

Originally Posted by 0lancer0

so what about those debit/credit cards? any info on that?

The old card is no more available. New debit card will soon be available to all investors with 1000$ or more invested, all will automatically receive debit card when 1000$ is reached. The card is going to have FFX logo on it.
They decided to do that because it is more practical for them and for investors

strazica · 04-11-2008, 07:15 PM

Hallo i am in finanzasfiorex 4 month and it is ok shod i bee woried????????

**Jude** · 04-12-2008, 03:58 AM

The business model doesn't sound viable, and with the structure after I read the threads again and again, it seem to me like a big ponzi scheme.

JoseLeon · 04-12-2008, 06:03 PM

Only some more information:

IP: 200.58.112.190 (not sharing hosting with other websites)
IP Location - Buenos Aires - Buenos Aires - Dattatec.com

responsible: Guillermo Tornatore
address: Cordoba, 3753,
address: 2000 - Rosario - SF
country: AR
phone: +54 341 4360555 []

ICANN Registrar: TUCOWS INC.
Created: 2007-03-02
Expires: 2013-03-02

Visitors by Country:
Colombia 24.6% Spain 7.6%
Ecuador 7.3% France 6.9%
Slovenia 5.9% Panama 5.4%
Visitors by City: 1) Bogotá, CO 13.6%
2) Quito, EC 4.5%
3) Medellín, CO 4%

Since 2007-03-04:

Registrant:
Finanzas Forex
Aben Al Abbar, 14-27
Valencia, none 46021
ES

Domain name: FINANZASFOREX.COM

Administrative Contact:
Forex, Finanzas info@FinanzasForex.com
Aben Al Abbar, 14-27
Valencia, none 46021
ES
+34.615222355 Fax: +34.615222355
Registered in this hosting company: Alojamiento Web Registro de Dominios

Since 2007-06-22:

Registering in Panama with Evolution Market:

Registrant:
Finanzas Forex
Apartado 0823-04450
Panama, Panama
PA

Domain name: FINANZASFOREX.COM

Administrative Contact:
Group, Inc., Evolution Market info@FinanzasForex.com
Apartado 0823-04450
Panama, Panama
PA
+5073903108 Fax: +5073903108

Technical Contact:
Group, Inc., Evolution Market info@FinanzasForex.com
Apartado 0823-04450
Panama, Panama
PA
+5073903108 Fax: +5073903108

Registration Service Provider:
Merkaweb Servicios de Internet S.L., soporte@merkaweb.com
625966103
Alojamiento Web Registro de Dominios

Registrar of Record: TUCOWS, INC.
Record last updated on 21-Jun-2007.
Record expires on 02-Mar-2008.
Record created on 02-Mar-2007.

SSL Cert: www.finanzasforex.com expires in 76 days.

Warning from CNV Panama:

Comisión Nacional de Valores Republica de Panamá

(Read point 2)

In September 2007 CNV (Panama) also posted that in a term of 15 days, Mr. German Cardona from Evolution Market Group (finanzasforex) was requested to show his documentation and license to this organism or they would close the activity of this company and freezing the funds. I don´t know what happened later.