“ALERT” – GOLD SCAM OPENS OFFICES IN PANAMA >
FROM THE -
JOURNALS of Monte Friesner ~ Friday November 26, 2010 >
Financial Crime Consultant for WANTED SA >
WANTED SA has confirmed this morning from our Europe agents that prohibits Lance Futures from providing investment broking services and prohibits FFSA from involvement in the initiation of Lance Futures’ operations.
By notice dated 26 November 2010, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - prohibited Lance Futures from providing investment broking services without the requisite authorization. It further prohibited the Frankfurt Financial Supervisory Authority from involvement in the initiation of Lance Futures' unauthorized operations.
The employees of Lance Futures have been cold calling people to encourage individuals to purchase gold options. As such, Lance Futures is performing investment broking services without the requisite authorization from BFF. Lance Futures' website indicates that its office is located at Mainzer Landstraße 10-14, 25629 Frankfurt am Main. There is no such post code or street address. Lance Futures is not registered in the commercial register, nor has it disclosed its legal form.
WANTED SA has also learned in an Alert that Lance Futures has opened offices in the Republic of Panama and will continue to offer this fraudulent gold scams, similar to the Tulip Fund fraud several years ago operated by Okke Ornstein Van Ooijen who now has several Criminal Charges pending in Panama.
During the telephone calls, the callers from Lance Futures advise potential clients that they can verify on the website of the Frankfurt Financial Supervisory Authority (FFSA) that Lance Futures is a licensed financial services institution.
The FFSA claims to be Germany's primary financial regulator. However, no supervisory authority by the name of "Frankfurt Financial Supervisory Authority" exists in Germany. The website provides no address or telephone number.
The FFSA is involved in the initiation of Lance Futures' unauthorized operations by virtue of the fact that it confirms to potential clients that Lance Futures is a financial services institution licensed in the Federal Republic of Germany. It was prohibited from conducting such activities by order dated 9 November 2010.
BaFin took steps to block the websites www.lancefutures.com and www.ffsauthority.com, whereupon Lance Futures and the FFSA registered new website addresses with the same information at www.lance-futures.com and www.ffs-authority.com. These sites have since been shut down as well. However, it is to be expected that the persons responsible will attempt to continue their illegal operations under new website addresses.
The notices are immediately enforceable by operation of law, but are not yet final and
WANTED SA thanks to the Associated Press who contributed to this report and all the Parties, Press, Journalists, Law Enforcement and Securities forces who have contributed to this article and their sincere opinions and statements.
WANTED SA states that the facts and opinions stated in this article are those of the author and not those of WANTED SA. We do not warrant the accuracy of any of the facts and opinions stated in this article nor do we endorse them or accept any form of responsibility for the articles.