ProphetMax, Senen Pousa - any info?

[babyjake1961]

The court gave the CFTC, the SEC, and the receiver 3 months to file a joint case status update - see the attachment.

 

[Bugz]

An email I received today from the ASIC Investigator

Hello,

ASIC's investigation into Investment Intelligence Corporation Pty Ltd and it's director Senen Pousa is still continuing. ASIC is continuing to work with regulators in several countries regarding this matter.

As a result of an application by a creditor heard by The Brisbane Supreme Court on Wednesday 19 June, 2013 Investment Intelligence Corporation Pty Ltd was wound up on the grounds of insolvency. Richard Albarrran and Blair Pleash of Hall Chadwick Chartered Accountants was appointed by the court as the official liquidator. Creditors of the company can contact Hall Chadwick:

Investment Intelligence Corporation Pty Ltd - Hall Chadwick - Appointed as Provisional Liquidator

All remaining assets of Investment Intelligence Corporation Pty Ltd will now be dealt with by the liquidator.

Please feel free to dispurse this message to other interested parties in this matter.

Regards,

 

[babyjake1961]

An email I received today from the ASIC Investigator

Hello,

ASIC's investigation into Investment Intelligence Corporation Pty Ltd and it's director Senen Pousa is still continuing. ASIC is continuing to work with regulators in several countries regarding this matter.

As a result of an application by a creditor heard by The Brisbane Supreme Court on Wednesday 19 June, 2013 Investment Intelligence Corporation Pty Ltd was wound up on the grounds of insolvency. Richard Albarrran and Blair Pleash of Hall Chadwick Chartered Accountants was appointed by the court as the official liquidator. Creditors of the company can contact Hall Chadwick:

Investment Intelligence Corporation Pty Ltd - Hall Chadwick - Appointed as Provisional Liquidator

All remaining assets of Investment Intelligence Corporation Pty Ltd will now be dealt with by the liquidator.

Please feel free to dispurse this message to other interested parties in this matter.

Regards,

How about handing Senen and Laura over to the US authorities?

 

[spiv]

Received an email from the IIC liquidator this morning with a proof of debt form to fill out.

Anyone else get that?

 

[Pugslie2000]

Received an email from the IIC liquidator this morning with a proof of debt form to fill out.

Anyone else get that?

Yea-What do we do with it??????

 

[spiv]

Looks like he's asking us to fill it out with the membership amount(s) we paid to IIC.

 

[babyjake1961]

Looks like he's asking us to fill it out with the membership amount(s) we paid to IIC.

Not just the membership fee but the total amount of your loss, the "trading losses" including.

 

[iampar]

Just a shout out of thanks for you folks posting these updates

 

[SonicSunburst]

Not just the membership fee but the total amount of your loss, the "trading losses" including.

Unless you have a judgement in your favor for trading loses, and that judgement amount remains unpaid by IIC, then it's not a valid debt. I doubt the membership fees would be either now that I think about it. That judgement could be from a regulatory body like FOS or as a result of a civil case heard in the courts.

What supporting documentation do you have to prove either the membership fees or trading loses are a debt owed to you? I'm not supporting Senen or IIC here, just getting you guys thinking about the hurdles you are going to face if you don't frame your arguments correctly.

 

[Pugslie2000]

Then why do we have a bunch of Lawyers AKA Receivership collecting financial compensation on our behalf and in our name???????????????????????????

 

[babyjake1961]

Unless you have a judgement in your favor for trading loses, and that judgement amount remains unpaid by IIC, then it's not a valid debt. I doubt the membership fees would be either now that I think about it. That judgement could be from a regulatory body like FOS or as a result of a civil case heard in the courts.

What supporting documentation do you have to prove either the membership fees or trading loses are a debt owed to you? I'm not supporting Senen or IIC here, just getting you guys thinking about the hurdles you are going to face if you don't frame your arguments correctly.

No judgement in your favor is required. Proof of funds transfer would be sufficient in view of the evidence with Pousa's promises the authorities have on their record.

 

[Bugz]

Not just the membership fee but the total amount of your loss, the "trading losses" including.

I haven't received that document. Can you please PM me a copy when you have a moment?

 

[babyjake1961]

I haven't received that document. Can you please PM me a copy when you have a moment?

Here it is: http://prophetmaxreceivership.com/uploads/Circular_to_Members_July_2013_pdf__1_.pdf

You need to complete it and email it at [email protected]

 

[Pugslie2000]

Here it is: http://prophetmaxreceivership.com/uploads/Circular_to_Members_July_2013_pdf__1_.pdf

You need to complete it and email it at [email protected]

None of the links work properly.....

 

[babyjake1961]

None of the links work properly.....

Installing the free Adobe Acrobat Reader will help with the first link.

The second is an email address, not a link.

 

[SonicSunburst]

Then why do we have a bunch of Lawyers AKA Receivership collecting financial compensation on our behalf and in our name???????????????????????????

Investment Intelligence Corporation Pty Ltd is an Australian Company. Lawyers don't wind up companies here. IIC are in liquidation, but the court appointed external administrators are Richard Albarran and Blair Pleash of Hall Chadwick. They were appointed on the 31st May this year. If you have a valid claim and want to be listed as an official creditor I'd be making sure you talk to these guys.

If you're part of a class action "PM Receivership" that's fine, but I'd guess these lawyers are gathering evidence to support a civil or criminal case against IIC and Pousa, with the view of obtaining a judgement in favor of the plaintiffs, i.e. you.

The courts will decide what funds (if any) are awarded to the PM Receivership group (i.e. you) and what fees the PM Receivership (i.e. the lawyer/s running the case) can take from the proceeds.

Certainly a complex situation with both US and Australian authorities involved in this mess. At the very least, I'd be making a call to the Australian appointed administrators and ask them if they are aware of PM Receivership's class action, and where they sit in the official "pecking order" of creditors.

https://insolvencynotices.asic.gov....ticepurpose=All&noticestate=All&acn=101616371

 

[SonicSunburst]

I'd also like to add that I think it's very misleading for the class action to be labeled "Prophet Max receivership", when they are not the official court appointed administrators of the company in liquidation. This is a private firm who are practicing law and you, the members of the class action are paying for their services. I certainly hope no-one has been mislead AGAIN here.

The prophermaxreceivership.com domain was registered 12 September 2012 by HTS Law, a specialist in 'boutique civil litigation'. The official administrators weren't appointed until 31st May 2013.

If you were to go direct to the court appointed administrators and list as a creditor you'd be ranked alongside the class action members and ultimately receive the same c/$. Only difference is PM Receivership won't be taking a cut of your payout.

 

[SonicSunburst]

No judgement in your favor is required. Proof of funds transfer would be sufficient in view of the evidence with Pousa's promises the authorities have on their record.

This is a very naive view of a very complex criminal (and civil for those part of the PM Receivership Class Action) case involving authorities in a number of countries.

Who's going to give you your money back? PM Receivership? Where are they going to get it from? Investment Intelligence Corporation Pty Ltd. Well they are in liquidation and the court appointed administrators will consolidate whatever assets they can, validate a list of official creditors and rank them in order of priority and amount of substantiated debt.

Whatever the payout in the dollar is, If you're a member of the PM Receivership class action it will be after two legal firms have taken their cut.

 

[SonicSunburst]

I've had a read of some of the court documents which shed a little more light on what is going on.

CFTC brought Civil complaint against Senen / IIC / Friant / Dillard / EVG.
Court appoints Guy M. Hohmann as receiver for defendant's assets.
Hohmann sets up PM Receivership and labels defendants assets as "Prophet Max Estate"
Dillard cuts a deal with CFTC to be excluded from the lawsuit ON THE SAME DAY, 18th SEPTEMBER.
In fact he signed the injunction on the 17th, the day before either the lawsuit or the injunction was filed.

From the FAQ page on the PM Receivership Page...

Are the membership fees paid to EVG included in the claims?

At this early stage of the Receiver’s investigation and the ProphetMax Receivership Estate, the Receiver cannot comment on whether EVG membership fees or any other fees may be included in investor claims.

Why is the $750,000 from Michael Dillard not being used to refund membership fees?

Based on the various court papers filed by the U.S. CFTC and the Receiver’s own investigation, the Receiver is aware that many investors remitted funds to Senen Pousa, Investment Intelligence Corporation, dba ProphetMax Managed FX, Joel Friant, Michael Dillard, and Elevation Group, Inc. for several purposes, including purported foreign currency investments, membership fees to Investment Intelligence Corporation dba ProphetMax Managed FX, and subscription fees to Elevation Group, Inc. At this time, the Receiver cannot publicly comment on the amount or source of assets that may be recovered from any Defendant, including Mike Dillard. In the future, however, this information may be disclosed in documents filed with the Court, and copies of such documents will be posted on the Receivership website once they have been filed.

At this early stage of the ProphetMax Receivership Estate proceedings and the various ongoing investigations in several countries, the Receiver cannot publicly comment on what funds could potentially be remitted to injured investors or the potential purposes for any future remittances. The amount of assets ultimately recovered by the Receiver could potentially impact how and for what purposes funds are remitted to injured investors, so the Receiver needs time to conduct his investigation and marshal recoverable assets before any determinations can be made.

For those who can't understand legal blah blah, Dillard cut a deal granting a permanent injunction to himself and EVG, on the basis he;

1. Repay all monies obtained illegally.
2. Pay a civil fine.
3. Not engage in any trading activity unless registered to do so.
4. Not contest the fact he broke Fedral Laws.
4. Fully co-operate with the CFTC in the investigation

The amount of the fine and the money to be repaid is to be nominated by the courts at a later date, presumably once all investigations are finalised.

Also interesting that the Texas court grants Guy M. Hohmann "full control of the corporate defendant.... and management of IIC...". A US court can't grant control of an Australian Pty Ltd company to anyone, and obviously this didn't happen. Local administrators have been appointed, and Guy himself admits 'but I am not involved in the liquidation proceeding, (and) do not have authority over the liquidator'

 

[Pugslie2000]

I've had a read of some of the court documents which shed a little more light on what is going on.




So what are we looking at here? Five cents on every dollar.................