Forex Scams

NATHAN GAUB WANTS HIS BROTHER DAN GAUBS LEGACY TO CONTINUE

Posted by on November 22, 2012 at 12:45 am

Nathan Gaub of Yakima Washington claims on his LinkedIn site that “Nathan Gaub w/his brother, Dan have created a UNSURPASSED system of forex trading”. Nathan is also asking for donations on his site for the “DAN GAUB MEMORIAL FUND”.  Nathan claims that Dan Gaub helped start “this ministry” we assume Ken Gaub Ministry because that is where the funds go once you click the paypal link. Nathan also states  “We are going on with the concepts that Dan believed in”.

DAN GAUB AND Forex Robot Scams

Posted by on May 17, 2012 at 10:40 pm

Forex robot scams  can be found all over the internet. In fact, once you get on the “right” mailing list you will receive daily emails about the latest Forex Robot. Unfortunately,these robots will lose you thousands of dollars! If you want to be a day trading professional, you need to learn how to trade! There are no holy grails or magic systems. Trading is like any other business. Knowledge and experience is how you become successful. Many system vendors prey on those with a “Get Rich Quick” or “Gambling Mentality”.  Dan Gaub preyed on trusting victims.  Dan Gaub will leave a legacy as the worlds biggest forex scammer!  Word is out that this man scammed so many people its beyond words.  All under the statement of “its my mission to help people”.   If you have been a victim get a hold of either fraudandscam.com or victimadvocates.net and let them know.

Texas Federal Court Orders Total Call Group, Inc. and its leaders to pay over $4.8 million in Fines for Issuing False Account Statements and Making False Representations in Forex Fraud.

Posted by on April 13, 2012 at 10:39 pm

Washington, DC – (CFTC) The U.S. Commodity Futures Trading Commission today has announced that a federal court has entered an order of default judgment and permanent injunction against Total Call Group, Inc. (aka TPFX, Inc., Power Play FX) of Frisco, Texas, and its leaders, Craig B. Poe, also of Frisco, and Thomas Patrick Thurmond (aka Patrick Thurmond) of San Antonio, Texas.
The court’s order requires Poe and Thurmond, respectively, to pay a civil monetary penalty of $3.24 million and $1.62 million and holds Total Call Group jointly and severally liable for the payment of these amounts.
The order which was entered on March 30, 2012, by Judge Richard A. Schell of the U.S. District Court for the Eastern District of Texas, stems from a CFTC enforcement action that was filed on September 29, 2010, that charged the defendants with issuing false customer account statements in connection with an off-exchange foreign currency (forex) fraud (see CFTC Press Release 5908-10).
The order finds that, in the beginning of early 2006 and continuing until October of 2008, the defendants solicited approximately $808,000 from at least four customers to trade forex. In soliciting the funds, Thurmond made false representations to one or more of Total Call Group’s customers, including that Poe had been trading forex and living off the income for over four years, and that he and Poe had personally provided over $1 million to Total Call Group, according to the order.
Near the end of August 2008, the defendants sustained trading losses and incurred trading fees adding up to approximately 90 percent of the then current balance of the trading accounts, according to the order. However, the defendants did not report these substantial losses to customers, but instead continued to promote the profitability of trading and solicited additional funds, the order finds.
In September through December 2008, the order finds that the defendants traded and lost almost all of the remaining funds in the trading accounts. Despite these losses, Poe sent false account statements to customers, including several false statements after the trading accounts were fully liquidated in November 2008, that collectively reflected a positive balance of over $750,000 in Total Call Group’s forex trading accounts.