ProphetMax, Senen Pousa - any info?

[NurseAnge]

Legal counsel making public comment about financial compensation received from Senen?! Legal counsel making public comment about what Senen is likely to say in the future?! The thread that keeps on giving!!

The heat is on. This is an attempt by Dillard to get you to view him as a victim, and divert the anger and legal ramifications away from him and onto Senen. The thing is, for a lot of you, you wouldn't have become a victim of financial fraud if it hadn't been for Dillard. And that's why HE ISN'T A VICTIM, rather implicit in this unlicensed fiasco.

These marketing gurus have been helping themselves to your pockets for too long. Time to help yourself people and ensure the authorities are fully aware of the roles both Pousa & Dillard played in this.

Couldn't agree more. He took a commission and that makes monsieur Dillard an accomplice. He may have been reeled in by Pousa but he has openly admitted to taking a commission. He even stated that Pousa still owes him some!!

 

[NurseAnge]

And what about non-members who joined based on Mike's marketing, do they get any help?

Doesn't look like it from the statement. So all sorts of law suits to follow that "EVG legal" statement

 

[SonicSunburst]

EVG will set aside all funds that it received from Senen as compensation for Senen’s sale of Prophet Max memberships, to assist EVG members in the future who have been harmed by Senen or others associated with Senen.

And this is the hook people. This is the promise that they are hopping will keep you loyal to Dillard, channel any information you have through EVG, and delay any complaint or legal action you may be considering.

Classic NLP persuasive dribble....

 

[KrakatoaJack]

I'm confused about the commissions EVG received.

Either they were negligible--as Dillard said, just enough to pay for video/Australia trip or substantial enough to start compensating EVG member's for their losses.

I am guessing it was a 50/50 basis with Pousa. $1,000 each EVG member who joined?

And how could EVG monitor what monies flowed towards Pousa if the transfers were made directly?

 

[JanFrance]

And what about non-members who joined based on Mike's marketing, do they get any help?

Yes they do

 

[thepixelpusher]

How would those Non-EVG Members know if they get compensated by Mike Dillard & EVG? Wasn't the sign up direct to ProphetMax? Does EVG have the full Senen sign up list? How involved was Mike Dillard and EVG in this promotion if he has the EVG and the non-EVG members list that signed up for ProphetMax?

Any compensation from Dillard is likely to come with a signed agreement NOT to hold him or EVG liable for any wrongdoing. I think I'd consult with an attorney and the SEC counsel before joining EVG's legal pursuits. EVG and the losing PM member have 2 separate interests.

Seek you own legal counsel.

 

[thepixelpusher]

I think this was posted a few pages back, but bears repeating. Namely, that the "world class trader" Senen Pousa had working for the investors of ProphetMax was only trading since 2004, after learning to trade from Traders International. Prior to that he was real estate investor. Read from page 4 and on of the pdf from the link below regarding a complaint he had with Global Futures Exchange.

http://www.cftc.gov/ucm/groups/public/@lrdispositions/documents/legalpleading/idclark83106.pdf

 

[pboyles]

And this is the hook people. This is the promise that they are hopping will keep you loyal to Dillard, channel any information you have through EVG, and delay any complaint or legal action you may be considering.

Classic NLP persuasive dribble....

Of course, it's all just another stitch up. Sadly plenty of you will fall for it and hand over even more money to these guys.

 

[SonicSunburst]

I'm getting feedback from ProphetMax members confirming both ASIC and the SEC are receptive to, and acknowledging complaints made against both Pousa & Dillard. I'm also aware of members of the public that are so disgusted with the whole ProphetMax veture that they too have made complaints to ASIC.

I'd also encourage anyone who has lost money in this to lodge a complaint with Financial Dispute Resolution against IB Capital. I believe they have failed miserably in their obligations as a NZ registered financial services provider. There are some gaping holes in the process they set-up, which in my opinion makes is a no-brainer for the FDR to find in favor of the client and rule that IB Capital repay trading loses incurred due to their failures. I don't want to spell it out in a public forum, but if anyone want's advice on how to structure a complaint against IB Capital please PM me.

 

[Bugz]

And this is the hook people. This is the promise that they are hopping will keep you loyal to Dillard, channel any information you have through EVG, and delay any complaint or legal action you may be considering.

Classic NLP persuasive dribble....

absolutely right Sonic. Dillard is wearing his brown corduroys and looking for every way possible to APPEAR to be doing the right thing. He's in this up to his neck. I hope he's losing sleep

 

[t_durden]

I'm getting feedback from ProphetMax members confirming both ASIC and the SEC are receptive to, and acknowledging complaints made against both Pousa & Dillard. I'm also aware of members of the public that are so disgusted with the whole ProphetMax veture that they too have made complaints to ASIC.

All I got from ASIC was an auto-responder message promising a reply within 28 days. Longer, if more information is required.

I'd also encourage anyone who has lost money in this to lodge a complaint with Financial Dispute Resolution against IB Capital.

I've just tried lodging a complaint, but quickly ran into this message:
"Sorry, you must make a formal complaint to the scheme member first, and give them up to three months to respond. If you haven’t heard back or are unhappy with the outcome, FDR may still be able to help with your complaint".

 

[SonicSunburst]

All I got from ASIC was an auto-responder message promising a reply within 28 days. Longer, if more information is required.

Did you complete the complaint form here?

https://www.edge.asic.gov.au/008/co...ils/t=eca2e1fb632a7cebc4741aacfcdd127759b3087

I didn't receive an email. I received a phone call from the ASIC Brisbane office, and a letter in the mail. Others I have spoken to received a letter.

I've just tried lodging a complaint, but quickly ran into this message:
"Sorry, you must make a formal complaint to the scheme member first, and give them up to three months to respond. If you haven’t heard back or are unhappy with the outcome, FDR may still be able to help with your complaint".

Not unusual. It's the same in Australia, you have to first make the complaint to the Financial Service Provider. Turnaround time here is 28 days. Ask IB Capital for a copy of their internal complaints resolution process. I think you'll find that the 90 day time frame is to have the complaint resolved, not acknowledged. The time frames for acknowledgement / response should be clearly identified in this document.

Don't be put off by this requirement. Your complaint will be identical whether IB Capital or the FDR hear it first, so it's no more work on the behalf of a client.

 

[t_durden]

Did you complete the complaint form here?

https://www.edge.asic.gov.au/008/co...ils/t=eca2e1fb632a7cebc4741aacfcdd127759b3087

I didn't receive an email. I received a phone call from the ASIC Brisbane office, and a letter in the mail. Others I have spoken to received a letter.

Yes, but the auto-responder email came from the NSW Office. It says inter alia:
"What happens now?
We deal with most complaints within 28 days. However if we need to make external enquiries this may take longer. We will inform you of our decision in writing as soon as possible".

 

[t_durden]

Not unusual. It's the same in Australia, you have to first make the complaint to the Financial Service Provider. Turnaround time here is 28 days. Ask IB Capital for a copy of their internal complaints resolution process. I think you'll find that the 90 day time frame is to have the complaint resolved, not acknowledged. The time frames for acknowledgement / response should be clearly identified in this document.

Don't be put off by this requirement. Your complaint will be identical whether IB Capital or the FDR hear it first, so it's no more work on the behalf of a client.

I understand the proper procedure is: complain to IB Capital, wait for 3 months and only then complain to FDR. IB Capital probably won't be around in 3 months.

 

[SonicSunburst]

Yes, but the auto-responder email came from the NSW Office. It says inter alia:
"What happens now?
We deal with most complaints within 28 days. However if we need to make external enquiries this may take longer. We will inform you of our decision in writing as soon as possible".

Did you tick QLD or NSW as the place where events took place? I think the way it works is that if you tick NSW, it will go to Sydney office. QLD it goes to Brisbane office etc. Each office may have slightly different procedures set up for acknowledging received complaints.

As IIC has an advertised address in Brisbane, I ticked QLD. Girl I spoke to was very helpful. Maybe resend it to the Brisbane office, that way they are all ending up on the same person's desk.

 

[t_durden]

Did you tick QLD or NSW as the place where events took place? I think the way it works is that if you tick NSW, it will go to Sydney office. QLD it goes to Brisbane office etc. Each office may have slightly different procedures set up for acknowledging received complaints.

As IIC has an advertised address in Brisbane, I ticked QLD. Girl I spoke to was very helpful. Maybe resend it to the Brisbane office, that way they are all ending up on the same person's desk.

I ticked NSW, for Senen is a fellow New South Welshman. I also entered IIC's ACN and the ASIC system recognised it, so our complaints are linked to the same company.

 

[SonicSunburst]

I understand the proper procedure is: complain to IB Capital, wait for 3 months and only then complain to FDR. IB Capital probably won't be around in 3 months.

You may be right. I mean, how invested in New Zealand are they? The directors are based in Europe, and they only run a serviced office in Wellington. The whole show was set up in October / November last year.

I'm actually very surprised how easy it is to setup a business like this in New Zealand. Certainly nothing like what is required here in Australia.

 

[Bugz]

I understand the proper procedure is: complain to IB Capital, wait for 3 months and only then complain to FDR. IB Capital probably won't be around in 3 months.

the FMA Home | Financial Markets Authority are already looking into it, as confirmed in writing

 

[NurseAnge]

I can't help but remark on the stupidity of some of the EVG members. Duh, how do I put more money into ProphetMax, Mike?

 

[pboyles]

I can't help but remark on the stupidity of some of the EVG members. Duh, how do I put more money into ProphetMax, Mike?

Yes many people will put more money in, it happens in every financial scam. It's normally presented as a means to recovering existing losses but of course it ends up just adding to them.