Currency Scam

Currency Trader disappears with £130 Million

<div style="text-align: justify;">
A British currency trader disappears with £130 Million of his clients money. Joe Lewis, 59, has disappeared after admitting to his investors that his company had ceased trading five years ago. He also make his investors believe he was the multi-billionaire owner of Tottenham Hotspur FC.</div>
<br />
<div style="text-align: justify;">
The owner of Tottenham has no association whatsoever with the currency trader at the centre of this alleged fraud. </div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-DbJlR8VWolc/VJrEX42HZ0I/AAAAAAAARJ4/zAYPlsE-j48/s1600/Currency%2BTrader%2Bdisappears%2Bwith%2B%C2%A3130%2BMillion.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Currency Trader" border="0" src="http://2.bp.blogspot.com/-DbJlR8VWolc/VJrEX42HZ0I/AAAAAAAARJ4/zAYPlsE-j48/s1600/Currency%2BTrader%2Bdisappears%2Bwith%2B%C2%A3130%2BMillion.jpg" title="Currency Trader disappears with £130 Million" /></a></div>
<br />
<div style="text-align: justify;">
Mr Lewis's company's website has been deleted, except for a message on the homepage saying. "JL Trading is no longer trading."</div>
<br />
<div style="text-align: justify;">
As a response to investors who worried about their funds, Mr Lewis sent an email two weeks ago confessing that the company had been inactive since 2009, after it lost a substantial amount of money on foreign exchange deals.</div>
<br />
<div style="text-align: justify;">
From 2011 onwards only investors who were willing to put forward at least €20,000 could join his 'investment club'. Individual investments are said to have amounted to as much as €1.5m.</div>
<br />
<div style="text-align: justify;">
The email read: “JL Trading [Mr Lewis's company] ceased foreign exchange trading in 2009 following substantial losses and since that time the business has suffered further losses, which I have tried to make good through investments in a number of commercial projects.</div>
<br />
<div style="text-align: justify;">
"However, it is now clear that the business will not be able to recover its losses and must cease trading. This means that, contrary to what was reported to you previously, you cannot expect any payments in the future."</div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-G7094WEiQUk/VJrEsHMLloI/AAAAAAAARKA/hJIvkJHAND0/s1600/Joe%2BLewis%2Bfrom%2BJL%2BTrading.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Joe Lewis" border="0" src="http://2.bp.blogspot.com/-G7094WEiQUk/VJrEsHMLloI/AAAAAAAARKA/hJIvkJHAND0/s1600/Joe%2BLewis%2Bfrom%2BJL%2BTrading.jpg" title="Joe Lewis from JL Trading" /></a></div>
<br />
<div style="text-align: justify;">
Two days after the confession a final email was sent by Mr Lewis, which stated: "You have been sent an update this week which was worded by my lawyers, but I wanted everyone to know, I am not running away from things,” he continues, "please note, I have covered up my mistakes from everyone including my staff, no one else knew what was happening.”</div>
<br />
He expressed his regret, and said that he was doing his best to fix the situation.<br />
<br />
Professional footballers and golfers are understood to have been caught up in the scheme.<br />
<br />
Source: <a href="http://www.dailymail.co.uk/news/article-2884548/Currency-trader-wanted-130million-fraud-vanishes-hours-detectives-missed-chance-arrest-walked-police-station.html" rel="nofollow" target="_blank">www.dailymail.co.uk</a><br />
<br />
<br />

Currency Trader disappears with £130 Million

A British currency trader disappears with £130 Million of his clients money. Joe Lewis, 59, has disappeared after admitting to his investor...

US$2 million counterfeit scam, American arrested in Uganda

<div style="text-align: justify;">
An American have been arrested in Uganda for allegedly leading a large international counterfeiting ring. Ryan Gustafson, 27, set up an operation in Uganda that involved an elaborate reshipping process, an Internet network of contacts, rubber hand molds and bills hidden in fliers about a children’s charity.</div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-1mhYAnaz8q4/VJgDwf7PI3I/AAAAAAAARIA/czw1UhIld8o/s1600/Mr%2BRyan%2BAndrew%2BGustafson%2Bspeaks%2Bto%2Bone%2Bof%2Bhis%2Blawyers.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Ryan Andrew Gustafson" border="0" src="http://4.bp.blogspot.com/-1mhYAnaz8q4/VJgDwf7PI3I/AAAAAAAARIA/czw1UhIld8o/s1600/Mr%2BRyan%2BAndrew%2BGustafson%2Bspeaks%2Bto%2Bone%2Bof%2Bhis%2Blawyers.jpg" title="Mr Ryan Andrew Gustafson speaks to one of his lawyers-PHOTO BY ABUBAKAR LUBOWA Daily Monitor" /></a></div>
<br />
<div style="text-align: justify;">
The scheme unravelled when a fake $US100 bill passed at a Pittsburgh coffee shop last December was detected by bank employees, authorities said.</div>
<br />
<div style="text-align: justify;">
Hickton and Eric Zahren, the special agent-in-charge of Pittsburgh’s U.S. Secret Service office, said investigators traced that bill to a Pittsburgh man and further investigation traced the money to Mr Gustafson, an American living in Kampala, Uganda. Gustafson also shipped the bills to others in Florida, Minnesota, Texas and Washington. They said about $US30,000 in counterfeit bills was passed in the Pittsburgh area.</div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-VSGkSnP6Nq4/VJgEmD-f82I/AAAAAAAARIM/STewHxGSA_Y/s1600/The%2Bmoney%2Bwas%2Bglued%2Binside%2Bcharitable%2BSave%2Bthe%2BChildren%2Bpamphlets.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Child Sponsor" border="0" src="http://4.bp.blogspot.com/-VSGkSnP6Nq4/VJgEmD-f82I/AAAAAAAARIM/STewHxGSA_Y/s1600/The%2Bmoney%2Bwas%2Bglued%2Binside%2Bcharitable%2BSave%2Bthe%2BChildren%2Bpamphlets.jpg" title="The money was glued inside charitable Save the Children pamphlets-Source AP" /></a></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-eLnou-i6wJs/VJgE0Q3XDVI/AAAAAAAARIU/5VUqLXps_14/s1600/a%2Bpair%2Bof%2BAnon%2BHands%2C%2Bused%2Bas%2Bgloves%2Bto%2Bobscure%2Bthe%2Bwearer's%2Bfingerprints.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Anon Hands" border="0" src="http://2.bp.blogspot.com/-eLnou-i6wJs/VJgE0Q3XDVI/AAAAAAAARIU/5VUqLXps_14/s1600/a%2Bpair%2Bof%2BAnon%2BHands%2C%2Bused%2Bas%2Bgloves%2Bto%2Bobscure%2Bthe%2Bwearer's%2Bfingerprints.jpg" title="a pair of Anon Hands, used as gloves to obscure the wearer's fingerprints-Source AP" /></a></div>
<br />
<div style="text-align: justify;">
The money was glued inside charitable Save the Children pamphlets, and, investigators contend, Gustafson used a pair of rubber gloves modelled after his own hands to prepare the packages so he would not leave fingerprints. Despite that, Zahren said, Gustafson was tied to one of the packages by a fingerprint.</div>
<br />
<div style="text-align: justify;">
The money shipments also were sent through a series of unidentified people who relayed them through the mail. When the packages were received, a person was instructed to place the pamphlets in hot water to dissolve glue and free the money.</div>
<br />
on similar charges there and it’s not clear when or if he will be extradited to face charges in US.<br />
<br />
<div style="text-align: justify;">
The search in Uganda uncovered a pair of Anon Hands, used as gloves to obscure the wearer's fingerprints. Mr Gustafson is said to have located couriers through an online forum and established contact with them through private message.</div>
<br />
<div style="text-align: justify;">
The Secret Service coordinated with Ugandan authorities to set up an undercover sting operation to purchase counterfeit currency from the suspect.</div>
<br />
<div style="text-align: justify;">
Gustafson, who previously lived in Texas & Colorado, was arrested in Uganda December 11 and a subsequent search of his home netted a cache of fake Ugandan shillings, Congolese francs, Ghanaian cedis, Indian rupees and euros, as well as various counterfeiting materials.</div>
<br />
<div style="text-align: justify;">
US authorities estimate the suspect flooded the market with nearly $2m (£1.28m) in counterfeit currencies.</div>
<br />
<div style="text-align: justify;">
Mr Gustafson has been charged with conspiracy, selling and dealing in counterfeit currency, and unlawful possession of ammunition.</div>
<br />
He faces a lengthy prison sentence and a fine of $500,000.<br />
<br />
Source: <a href="http://www.monitor.co.ug/News/National/How-fake-dollar-cartel-was-traced-to-Uganda/-/688334/2563924/-/m1kouf/-/index.html" rel="nofollow" target="_blank">Daily Monitor</a>, <a href="http://www.bbc.com/news/world-us-canada-30536890" rel="nofollow" target="_blank">BBC News</a>, <a href="http://www.news.com.au/finance/money/us-busts-2-million-counterfeit-scam/story-e6frfmci-1227161565693" rel="nofollow" target="_blank">news.com.au</a><br />
<br />
<br />

US$2 million counterfeit scam, American arrested in Uganda

An American have been arrested in Uganda for allegedly leading a large international counterfeiting ring. Ryan Gustafson, 27, set up an ope...