• Report: #918207

Complaint Review: Investment Intelligence Corporation

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  • Submitted: Thu, July 26, 2012
  • Updated: Thu, May 22, 2014

  • Reported By: FX Fraud Victim — Seattle Washington United States of America
Investment Intelligence Corporation
Brisbane, Select State/Province United States of America

Investment Intelligence Corporation Prophet Max Lied about world-class FX trading services, ended up losing 63% of money invested in 24 hour period Brisbane, Australia

*Consumer Suggestion: Ron Poole - Investment Fraud – Unqualified Advice - Prophetmax - Global ForEx Mgmt - Joel Friant - Senan Pousa – Kirkland/Bellevue scams

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We invested in what was represented to be a low risk, relatively high return managed FX trading account.  In one day of trading, we lost 63% of our account when over 225 reckless "trades" were executed.  This violated all representations of how the trading was to occur (2-3 days per month of trading, with 5-8 trades, only 1-3% risk of capital per trade).  Australian Regulators are now investigating this company, Senen Pousa, and other entities involved in this scam, and the courts have frozen bank accounts. This is from the ASIC website (Australian SEC Equivalent)

Email from ASIC:
Hello,

If you are on this email list then you have made a complaint to ASIC at some stage regarding Investment Intelligence Corporation. I am the project manager for this investigation.

Attached is a link to the ASIC website showing a Media Release made today by ASIC outlining court action ASIC took yesterday to freeze funds held in bank accounts held by Investment Intelligence Corporation.

The media release summarises the action ASIC has taken and refers to our ongoing investigation regarding Investment Intelligence Corporation.

It is important that you note that this investigation is complex spanning several countries and it will still take some time to complete.

Investigations are continuing regarding IB Capital, Global Forex Management, The Elevation Group, Investment Intelligence Corporation and individuals relating to those entities.

ASIC and authorities in the USA have been working to determine what has happened to all funds transferred to ING Bank in The Netherlands.

Please feel free to forward this email to other ProphetMax members who may require this information.

Please be aware that ASIC is dealing with multiple complaints regarding this matter however, do not hesitate to contact me if you have any questions.
Regards,

David McArthur

MEDIA RELEASE:
12-175MR ASIC freezes suspect funds held by unlicensed financial mentoring company
Friday 27 July 2012

ASIC has acted to secure funds invested with an online financial mentoring company, Investment Intelligence Corporation Pty Ltd (Investment Intelligence) while it investigates concerns that the company and its sole director, Mr Senen Pousa, are carrying on a financial services business without holding an Australian financial services (AFS) licence.

ASIC has also obtained a prohibition of departure order against Mr Pousa of Byron Bay in New South Wales. July 2012, ASIC obtained interim orders, by consent, in the Queensland Supreme Court over $3,092,799 held by St George Bank and $313,136 held by American Express Australia in
the accounts of Investment Intelligence.

The matter will return to the Queensland Supreme Court for further hearing at a later date.

Background

Investment Intelligence sold financial
mentoring memberships through an internet platform called ProphetMax. The membership involves a number of web-based modules that include general financial literacy, life coaching and foreign currency trading advice.

ASIC understands there are over 3,000 members worldwide, including Australia.

Investment Intelligence recommended that members engage in foreign currency trading through a broker called IB
Capital registered, in New Zealand.

Members were then instructed by IB Capital to transfer their funds into an account with ING Bank in the Netherlands. It is believed that members were told that these funds would then be used for foreign currency trading by a company in the USA called Global Forex Management.

ASICs investigation has revealed that Global Forex Management is not registered with the Commodities Futures and Trading Commission (CFTC) in the US to trade in foreign currencies.

Neither Investment Intelligence or Mr Senen Pousa hold an AFS licence under the Corporations Act 2001.

ASICs investigation is continuing in conjunction with authorities in the US, New Zealand and the Netherlands.

This report was posted on Ripoff Report on 07/26/2012 11:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/Investment-Intelligence-Corporation/Brisbane-Select-StateProvince-/Investment-Intelligence-Corporation-Prophet-Max-Lied-about-world-class-FX-trading-services-918207. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

Ron Poole - Investment Fraud – Unqualified Advice - Prophetmax - Global ForEx Mgmt - Joel Friant - Senan Pousa – Kirkland/Bellevue scams

AUTHOR: GGWild - ()

On the topic of the over-hyped foreign currency exchange trading fraudulent scheme promoted by Senen Pousa and Joel Friant…

 

Everyone should be aware that Ronald L. Poole (Mr. Poole) is connected to this fraudulent investment scheme and has been giving reckless financial advice without the appropriate background or understanding.

Mr. Poole is a current resident of the Seattle/Bellevue area (Kirkland, WA) as of August 2013. Mr. Poole has a poor track record when it comes to personal finances.  He mismanaged an investment portfolio of a family member causing the portfolio to lose a substantial amount of value.  He has recommended that people invest in commodities without a full understanding of commodity price volatility and the broader wealth components of the individual portfolios.  He has failed to divulge the truth about his involvement in the Prophetmax/Global ForEx investment fraud scheme.

Why does he think that he is qualified to guide people into investments and personal financial planning?  How can he, with good conscience, recommend investing in commodities after seeing Prophetmax/Global ForEx operate a fraudulent investment scheme involving foreign currency exchange trading?  None of these people (Ron Poole, Senen Pousa, Joel Friant) know enough about foreign exchange markets or commodity markets to orchestrate an efficient investment strategy that will beat the market indexes over the long-term.  In particular, Mr. Poole is way over his head.  He is a military man and not a financial planner.  I don’t care what kind of practical experience Mr. Poole thinks he has, if you become aware of him attempting to give investment advice alert everyone to ignore his recommendations.  Furthermore, if you run across Mr. Poole tell him to mind his own business about finance and divulge the truth about his involvement in the Prophetmax/Global ForEx investment fraud scheme.

Let’s not let another financial fraudster quietly get away when he deserves to be punished like the rest of them.  How many financial disasters will it take for the investment community to learn the lesson: don’t invest into something promising high returns and low risk without performing comprehensive due diligence on the people involved, the claims made and the historical track record(s) created.

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