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I feel bad for you @RayJ - but being angry at who you call the "Moral Authority" is a classic case of blaming the victim (or victim advocate in this case).
The outrage needs to directed at the root cause of the problem, not the people who uncovered it.
I thought DTC was Jovan. This decision to disable my indicators was Jovan's alone, or so I thought. Are you saying that there are more owners to DTC that just Jovan? Who are these additional stake holders and how did they let this happen?
Not 100% certain this is the guy - but you might check it out:
OSC bans man based on U.S. fraud convictions
Regulator calls conduct of Fernando Fagundes and New Futures Trading “abusive”
The Ontario Securities Commission (OSC) has permanently banned an Ontario man from the markets, based on a securities fraud conviction obtained in the United States.
The OSC has issued its decision in its case against New Futures Trading International Corp. and Fernando Honorate Fagundes (also known as Henry Roche), imposing permanent trading, registration, and director and officer bans against both Fagundes and the firm.
CEASE TRADE ORDER ISSUED AGAINST REGINA BUSINESSMEN
Released on May 30, 2006
The Securities Division of the Saskatchewan Financial Services Commission has issued a Temporary Cease Trade Order against Fernando Fagundes (alias "Shane Silver"), Kim Kowalchuk, Allan Kowalchuk and Reginald Goebel of Regina.
Fagundes, originally from Portugal, was convicted of fraud and income tax evasion in the United States and deported back to Portugal in 1999. He has been living in Regina since 2003.
Well this also confirms that Jovan was trading Simulation, because he could never have a legal trading account in the US or Canada. When I talkd to Jovan on the phone, he mentioned that he was trading his personal account and an account for investors, guess that was a lie as well.
I have to say that at this point I am glad to see that this thread seems to be arriving, or is close to arriving, to some sort of endpoints, or at least clarity.
I am not happy about all of them, but I am about some:
I am happy that the story of Jovan, or whoever he is, is winding down and that apparently he will not keep operating as he was. I am very unhappy that so many have lost money. No one should ever trust anyone they run into on the internet to the extent that people, sadly, do.
I am happy that there is information out there now that may help others avoid predatory imitation trading gurus. I hope the lesson is deeply learned before more harm is done. I am unhappy that anyone ever falls for these things, although history strongly suggests that many will.
I am very happy that the threatened lawsuit against an innocent person has apparently vanished, along with all the other smoke. This was totally uncalled-for, and obviously helped fuel the outrage about the whole thing. It's ironic that an attempt at suppression was part of what blew the whole thing up, but it's fitting that it did. I am very happy with the response from futures.io members to this attempt at bullying.
I am happy that @RJay is willing to come through and assist those who have been stranded.
I hope no one ever falls for this kind of BS again. I hope it is obvious that if someone offers to make you a millionaire, but you just have to send him some money first, there is something not quite right about this picture. Why hasn't he just made himself a millionaire, without needing your money? Most people would not fall for one of the Nigerian prince email offers, but new traders are doing exactly that, every time they fall for a supposed guru's get-rich-quick pitch. (Sure, I've done this too, and we all probably have. )
Some vendors, certainly, are honest and provide value. But they also do not make excessive, unattainable, overblown claims of easy money in the hardest thing anyone can try: daytrading in highly leveraged markets.
I hope this idea gets through to more traders now.
I am very happy with, and proud of, this thread, and every contributor to it. And of course, kudos to @JonnyBoy for driving it forward.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
@RJay - I know you may feel bruised with respect to the indicator situation and the topic of, but that IMO is a tiny piece in this rather large puzzle. It appears that you got caught up in something (as many others did) that nobody saw coming. On your part no exoneration is required and I echo Big Mike's comments in regards to your good standing within the FIO community and as a vendor in general.
By the mere fact you will be honouring existing users indicator license (likely at your cost) is just that, honourable. Hindsight is always 20/20 and perhaps I could have written my posts with respect to the indicators differently, with a less accusatory tone of your involvement with DTC.
You see, I have a lot more information about DTC and Family First Dynasty than I have not posted on this thread. This is in the event it might be needed in the future for legal purposes, which seems to have arrived! However, it does layout how the indicators evolved from FFD to DTC. Of course this is now irrelevant, as you have told me my assumption was wrong and so I bend the knee to that one.
So, with this post and if one is needed I offer the proverbial olive branch. I am not going to pussy foot around here, I need your help and you might have some information that would be valuable to the cause.
I am formulating some documentation to a few legal bodies, one of those bodies is the the Alberta Securities Commission. I was involved in a prior case with the SEC when they prosecuted another vendor a few years ago.
If you are willing to share any information (redacted of your personal information of course) you have on Jovan or interactions with DTC that would help immensely with the investigative team who eventually takes this on. Although it appears DTC might have been started under his son's name (possibly due to his alleged criminal past) Jovan was and always will be the front of DTC just as he was with Family First Dynasty and the two prior trading ventures he fronted.
I have others helping me outside of FIO. If you are willing to participate, please drop me a PM with your email address a burner email address or give me the go ahead to use the email contact available on your website.
I am currently communicating using end to end encryption with the other parties that are also participating in the collection of as much information as possible. If you do not wish to participate then that is fine, but I think anything you have no matter how small could be valuable.
As I said, I have a plethora of information on DTC and FFD that has not been shared on this forum, hence why I am trying to put a package together.
With that said, Happy Thanksgiving!
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- Trade what you see. Invest in what you believe -
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So, I sit here dumbfounded and in shock. I am receiving a lot of information from a lot of sources concerning the breath and depth of Jovan's folly. The mass fraud that was committed by "Jovan" through DTC was very well planned and intentional. It appears I was one of his early victims. Deportation was a mistake, life in prison at this point is the only acceptable resolution.
This guy needs to be caught and thrown in jail. He lied to multiple people, knowing that one day this mass deception will come to fruition. He willfully, with malice and forethought, setup his family and associates to take the fall for this fraudulent scheme. He used lawyers, law firms, and accountants, and twisted events in such a way to make things look ligament to everyone. I question the accuracy of the supposed stroke, the depth of awareness of the fraud by everyone involved - including the coaches.
I am taking everything I have on this man and filing a complaint with the SEC here in the United States. When I was a student (aka member) of Family First - I recorded everything, every training session and every email. I burned it all to CD and mailed it to the SEC and two friends I trust, one in Louisiana and one in Texas. Coach Lane, Coach Jacob, this lawyer Ryan, the accountant that was overseeing it all, the McLeod law firm, and all other parties need to thoroughly investigated to determine the extent of their involvement and knowledge of this mess. This man scammed near upwards of a million dollars (if not more) hard earned money from people and had the audacity to threaten me with a lawsuit. How can a supposed reputable law firm (McLeod) be used in such a way to perpetuate this massive fraud? How is it a corporation was setup on the Stepsons name, without his consent or knowledge? Then once Jacob found out about it - why did he go along with it? What law firm/lawyer would do such a thing?
This smells to high heaven. I have gone from being afraid that I will lose everything to some Canadian lawyer to angry as heck for being used in such away.
There are a lot of vultures out there selling promises to help you become a successfully trader. With me, from this point forward, everyone is ling until proven otherwise.
I would speculate he has sent several C&D's to silence negative reviews. This is a known tactic, just like trying to insist on an NDA upon purchasing the product. It's all about silencing people so that it doesn't snowball, like it did here.
I would also speculate that once he saw FIO highlighted this story in our newsletter, he knew he was done for. At this point, other vendors would change their business name and start again. Hopefully not the case here, meaning hopefully he is caught by the authorities.
The man "Jovan" intentionally masked his voice on videos and phone calls. Coach Jacob, Coach Lane, and this Lawyer Ryan, who was also a student and was trained at the ranch, had to be very well aware that his voice in person-to-person visits verses his online videos and phone calls were significantly different. I do not believe that "Jovan" is the only perpetrator in this farce. Given this new revaluation, These other individuals had to, at the minimum, suspect something fraudulent was going on. Knowing this, for them to actively participate in the "function of DTC" means they played a role in the deception. Maybe they were not aware of the whole thing - but they for sure knew enough that should have caused them pause. I do not believe for one minute that theses coaches and this lawyer are innocent in this matter. Now I know why these people have been silent and the lawyer has never responded to my email, they all got caught with their hands in the cookie jar.
The accountant that was supposedly overseeing this whole mess needs to be investigated for securities fraud. I suspect someone was cooking the books someplace, and this guy should have at least caught it- unless he was involved in the fraud as well.