• Report: #227123
Complaint Review:

Recontrader - Canni Financial Advisors - Fred Smilek - Scott Raybin

  • Submitted: Mon, December 25, 2006
  • Updated: Sun, August 08, 2010

  • Reported By:Ft Lauderdale Florida
Recontrader - Canni Financial Advisors - Fred Smilek - Scott Raybin
2455 E Sunrise Blvd Suite 500 Ft Lauderdale, Florida U.S.A.

Recontrader - Canni Capital Fred Smilek - Scott Raybin Ripoff Fraud Scam Con Artist Fort Lauderdale Florida

*UPDATE EX-employee responds: Fred Smilek, James putra, scam

*Consumer Comment: Wisdom, prudence, time

*UPDATE Employee: Investor Relations at ReconTrader Corp

*UPDATE Employee: The author would have you believe they are a victim rather than take responsibility for their decisions.

*UPDATE Employee: here is the ReconTrader rebuttal?

*REBUTTAL Owner of company: ReconTrader/Cani Capital Rebuttal

*REBUTTAL Individual responds: Fred Smilek

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Back in 2003 I invested my entire savings into a Ft Lauderdale based Company. At the time these two individuals were dressed to the hill. The office was in a beautiful space. My first meeting there were plenty of professionals willing to invest also. Both Fred Smilek & Scott Raybin put on a great con job.

My entire investment with them was almost 70,000 dollars. The day I went to a financial advisor to place everything in order was when my world went rocking. Adam (advisor ) asked me what the hell was this investment with both Recontrader Corp & Canni Financial Advisors. He told me something was seriously wrong Laura. He called them both and they were very angry and did not want to speak.

Well he went to google Fred Smilek and found out he had several serious issues. He had a legal history before the Board of Governors of the Federal Reserve System. Misappropriation of 275,000 at the Chemical Bank of New York where he held a position. His partner Scott Raybin had some issues with the Security Exchange also. There are several pending lawsuits active here in South Florida at this time.

Well to say the least I started a lawsuit here in South Floida that got me no where. I have a list of investors from a list a long time ago and have proceeded to contact them. I hear this company has a lot of money. However, I have only asked for initial investment back. I have never seen any financial documents or accounting from these guys in regard to my investment. They are still in business. I have contacted one lady and she is stating the same surprise. She has no documents and no money. I do not want this to happen to anyone else so that is why I am writing.

Ft Lauderdale, Florida

This report was posted on Ripoff Report on 12/25/2006 07:38 PM and is a permanent record located here: http://www.ripoffreport.com/reports/recontrader-canni-financial-advisors-fred-smilek-scott-raybin/ft-lauderdale-florida-33304/recontrader-canni-capital-fred-smilek-scott-raybin-ripoff-fraud-scam-con-artist-fort-227123. 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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Updates & Rebuttals

#1 UPDATE EX-employee responds

Fred Smilek, James putra, scam

AUTHOR: antiscam - (United States of America)

Here is some info you may want to read. All these companies are linked with the same guys behind the scene. its a big scam with everyone suffering, except for the guys behind it. good luck


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#2 Consumer Comment

Wisdom, prudence, time

AUTHOR: Anne - (U.S.A.)

It is unfortunate that "Laura" feels so misused. However, she is culpable in this matter. In most instances, one never, ever places all of their liquid funds, savings, or investments in one business or even one type of business. If "Laura" had $70K to invest, then she should have known this basic investment wisdom.

A true investment indicates a long-term relinquishment of funds into the hands of those who are creating a new business, product or service. Prudence must be at the front of the decision to invest and it seems as if "Laura" did not use prudence in making her decision to place $70K in one place. It seems obvious that she did not forsee the need to be able to liquidate her investment. However, be encouraged... if Sam Walton had anyone invest $70K in his Wal-Mart idea, they are now extremely wealthy.

A good investment takes time to ripen and mature. The dallyings in today's stock market make investing seem as if the return should come quickly and easily, but it does not. I am, personally, moderately aware of the ReconTrader investment opportunity of 2001-2003 and understand that the monies invested by those who did so were investing in a NEW THING and full development takes time.

I believe "Laura" will be the benefactor of her own rash action and the end result will be much better than she ever expected... a happy surprise!
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#3 UPDATE Employee

Investor Relations at ReconTrader Corp

AUTHOR: Anthony - (U.S.A.)

I have personally reviewed all legal documents pertaining to an investment with ReconTrader and Cani Capital Management. All aspects of this investment, shareholder rights and ReconTrader's responsibilities are fully disclosed in these legal documents.

ReconTrader Corp. and Cain Capital take all investments seriously. As such we go to great lengths to protect all present and potential investors. There are measures in place to prevent investors from investing beyond their competence.

Anyone who has invested their entire life savings in ReconTrader Corp. has misrepresented their level of investing both to the company and in the agreements.

We have implemented programs to strengthen our relations with investors. I encourage anyone to contact me personally with any questions.

Anthony Rousseau
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#4 UPDATE Employee

The author would have you believe they are a victim rather than take responsibility for their decisions.

AUTHOR: James - (U.S.A.)

I would encourage this individual to review their shareholder agreement and subscription document. In the agreement you will find all of your answers and hopefully clear up any confusion.

Being a partner in ReconTrader Corp I have been exposed to certain insider information. I can assure anyone reading this that these documents have been reviewed by our legal counsel and likely scrutinized by our investor's attorneys.

This being said I would challenge the accusation of a con job. Additionally there were several other erroneous statements made by this individual.

It seems that this individual has made an investment and is no longer interested in keeping it. I am sure all of us would appreciate liquidity in our investments. When ReconTrader made the decision to accept responsibility for this investment, a shareholder agreement was issued clearly detailing what rights an investor has, what can expected from the investment and what responsibilities ReconTrader has to protect this investment.

ReconTrader Corps values all of our shareholders and continues everyday to drive this company forward towards generating a positive return for everyone. To date we have never diluted our share holders. The business is still open and protecting our shareholders investments.

I would strongly encourage anyone with questions to contact this office.

ReconTrader Corp.
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#5 UPDATE Employee

here is the ReconTrader rebuttal?

AUTHOR: James - (U.S.A.)

There is no link to be found in order to read the official rebuttal. Incase you are interested please do one of the following:

GO HERE: http://www.ripoffreport.com/view.asp?id=227123&view=printer
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#6 REBUTTAL Owner of company

ReconTrader/Cani Capital Rebuttal

AUTHOR: Scott - (U.S.A.)

The company has become aware of an individual by the name of "Laura" who did not provide her last name, but who submitted a posting on 12/25/06 with regard to ReconTrader/Cani Capital (proper spelling is Cani), Fred Smilek and Scott Raybin. The purpose of this posting is to rebut false statements made by her in this posting.

"Laura" identified from Ft. Lauderdale is believed to be an investor who has equity ownership in ReconTrader and Cani Capital Management. "Laura", who continues to defame both companies and us individually, has an equity position in both companies.

Both of these companies are currently engaged in business. Contrary to the representation of "Laura", neither Fred Smilek nor Scott Raybin put on a "con job." "Laura" invested in the company and executed appropriate subscription documents and at not time did she indicate that she was investing her life savings. She informed the company that she was an accredited investor.

Prior to her investment, Fred Smilek informed her of his previous consent order with the Board of Governors of the Federal Reserve System that occurred back in 1998. Further, the consent order which is almost 9 years old was entered without any admission on the part of Mr. Smilek and does not relate to the nature of the business of either ReconTrader or Cani Capital Management.

The statement that Scott Raybin had some issues with the Securities and Exchange Commission has been fabricated and is totally false. At no time has Mr. Raybin had issues with the Securities and Exchange Commission nor has he been disciplined or censured by them. Additionally, there are no shareholder lawsuits against either of the companies as Laura would have the reader believe.

At no time did "Laura" ever sue Cani Capital or ReconTrader, and as stated above no investors have sued either company as well.

ReconTrader, Cani Capital Management, Fred Smilek and Scott Raybin appreciate the fact that this forum allows them to rebut the false statements that have been circulated by "Laura", and is certainly hoped that any person who has read the original posting takes the time and effort to determine the true facts and circumstances, and do not rely upon the information contained in the original posting, which is unsupported by any concrete facts and which portrays the companies and us in a false light.

Scott Raybin
(954) 653-8622
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#7 REBUTTAL Individual responds

Fred Smilek

AUTHOR: Henry - (U.S.A.)

I know Fred and Audrey Smilek his wife for many years. They are very good christians and I can not believe that they would con anyone out of their money. I am sure there is more to this story.
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