ProphetMax, Senen Pousa - any info?

[t_durden]

IB Capital has acknowledged that they never had an LPOA from me. Now they are asking how come I did not understand that my account was managed if I came through an introducing broker and are saying that since I did not complain when performance fees were deducted from my account means the IB trading my account was factual to me.

I cannot see how all this mitigates their trading my account unauthorised, but would appreciate help in answering IB Capital's questions. The truth of course is that I had never traded Forex before and still do not fully understand the roles of all the parties in the process of trading. Help, anyone?

 

[NurseAnge]

Would you be so kind to share it?

I tired to post them (there are 5) on here but the files are too big. If you have a file sharing program I can upload them to that.

 

[zerolimits]

IB Capital has acknowledged that they never had an LPOA from me. Now they are asking how come I did not understand that my account was managed if I came through an introducing broker and are saying that since I did not complain when performance fees were deducted from my account means the IB trading my account was factual to me.

I cannot see how all this mitigates their trading my account unauthorised, but would appreciate help in answering IB Capital's questions. The truth of course is that I had never traded Forex before and still do not fully understand the roles of all the parties in the process of trading. Help, anyone?

IB capital did not trade your account, global forex management did, Kevin clarke and his team.

 

[HRH]

I also have a copy of the video

Whoopee! Can I see it?

 

[HRH]

Request a copy of the agreement IB Capital (NZ) LLP had with your introducing broker. You won't see ProphetMax Managed FX (for which your LPOA was issued) party to this agreement because ProphetMax Managed FX is not the name of any legal entity.

The trading agreement? Just scanned through and you're right - the name ProphetMax Managed FX is nowhere to be found...although IB "Introducing Broker" is. It's a stretch to call this an agreement between IBC and IIC - it's an agreement between IBC and our Introducing Broker. Why go generic there. The Trading Agreement doesn't even NAME the IB. What kind of a contract is that?

 

[HRH]

Quick Question - Under NZ Law is IB Capital FX (NZ) able to accept an LPOA from un unlicensed Introducing broker.
They state that checking licensing is not their responsibility , but is it?
They have also stated that GFM was trading the account from the beginning. They state that an IB Broker can subcontract to another trader.
I need to get them under NZ Law - happy to make them turn up there and meet them in court.

If GFM was trading the account from the beginning like they say, the forms on ProphetMax website with LPOA should have been supped with GFM on them. It was a set up from the beginning.

 

[Ash88]

The trading agreement? Just scanned through and you're right - the name ProphetMax Managed FX is nowhere to be found...although IB "Introducing Broker" is. It's a stretch to call this an agreement between IBC and IIC - it's an agreement between IBC and our Introducing Broker. Why go generic there. The Trading Agreement doesn't even NAME the IB. What kind of a contract is that?

An invalid one. One that holds no weight.

Is no one taking these clowns to small claims court or big boy court? For those that can prove jurisdiction or in the same area as these clowns, what are you waiting for? You can be enforcing your judgment already.

Here is a quick article on the subject:
Where to Sue an Internet Business | Nolo.com

 

[HRH]

An invalid one. One that holds no weight.

Is no one taking these clowns to small claims court or big boy court? For those that can prove jurisdiction or in the same area as these clowns, what are you waiting for? You can be enforcing your judgment already.

Here is a quick article on the subject:
Where to Sue an Internet Business | Nolo.com

Clowns are in New Zealand. I've posted your response to our group sites. Action will be taken. Thanks.

 

[droberteaton]

If anyone needs to share large files. www.dropbox.com
First 2 gig are free.

 

[Ash88]

Clowns are in New Zealand. I've posted your response to our group sites. Action will be taken. Thanks.

Uh huh and the obvious three in the states:

Joel Friant in Bellingham, WA
Mike Dillard in Austin, TX
Kevin Clark in CT

 

[JMONEY2448]

Joel Friant is one of the hardest working people I know. 20 hour days everyday.

 

[jinny]

Joel Friant is one of the hardest working people I know. 20 hour days everyday.

I see this is your very first post. Perhaps you would like to tell us how long you have known Joel and what type of work do you think he does for 20 hours each day. I guess you realize that leaves only 4 hours each day for anything other than work i.e. sleeping, eating, socializing etc. The man must be super-human!

 

[NurseAnge]

I see this is your very first post. Perhaps you would like to tell us how long you have known Joel and what type of work do you think he does for 20 hours each day. I guess you realize that leaves only 4 hours each day for anything other than work i.e. sleeping, eating, socializing etc. The man must be super-human!

4 hours is enough time for a green smoothie and a prolonged orgasm, right?

 

[JMONEY2448]

I've known joel for 26 years and i know that he cares more about his customers then you guys will ever know. Thats all im going to say on the matter. If you want a bad guy in all this blame the guy who starts with a S

 

[NurseAnge]

When the CFTC lawyer called me he specifically asked if I recognized the name Joel Friant?? I probably wouldn't be able to sleep either if so many government agencies were interested in my activities

 

[JanFrance]

I've known joel for 26 years and i know that he cares more about his customers then you guys will ever know. Thats all im going to say on the matter. If you want a bad guy in all this blame the guy who starts with a S

So why does he never reply, or if one is lucky, only partially reply to his 'customers' emails then???

 

[JMONEY2448]

So why does he never reply, or if one is lucky, only partially reply to his 'customers' emails then???

In the USA we are inocent until proven guilty. You guys were in a high risk situation where anything could happen. The truth will come out and when it does the good guys will be cleared and the bad guy.......

 

[thepixelpusher]

When the CFTC lawyer called me he specifically asked if I recognized the name Joel Friant?? I probably wouldn't be able to sleep either if so many government agencies were interested in my activities

:clap::clap::clap::clap:

Glad to see the authorities are interested in these guys. Joel Friant is supposed to know trading, as a supposed expert, so he should have known that he was dealing with bad guys...making him another of the bad guys.

I mean, really, if a simple thread on Trade2Win can figure this out, I'm sure he did too. He'll burn with the rest.

 

[jinny]

In the USA we are inocent until proven guilty. You guys were in a high risk situation where anything could happen. The truth will come out and when it does the good guys will be cleared and the bad guy.......

I am all for the truth coming out and then let the chips fall where they may. If a person is truly innocent then I don't want to see such a person punished for something they didn't do. It's early days yet and the majority of us just don't know enough about Joel.

 

[JMONEY2448]

I am all for the truth coming out and then let the chips fall where they may. If a person is truly innocent then I don't want to see such a person punished for something they didn't do. It's early days yet and the majority of us just don't know enough about Joel.

I understand everyones angry. That was a lot of money that was lost on a single day. All im saying is give Joel a chance to show his innocence in all of this. I know for a fact all this stuff going down has really wieghed heavy on his heart.