What happened at VCM/TT?
Individuals have now posted a link to a copy of the Ifundtraders forex manual along with the Team Trading equities manual. They are in the bottom comments section of the “on Ifundtraders Programs” page. Going over both manuals, this is proof that Oliver repackages the same dumbed-down content from one program to another, and calls it “Global Market Mastery”. They are so lazy they actually copied pages from the previous manual whenever they could. This also reinforces that Ifundtraders is about generating sales, not quality educational materials or results.
The “truth videos” on this site were done by his former partner. The debate will continue on who the bigger thief is, but when two criminals become enemies and decide to blow eachother up, things like these videos are what happens. It was interesting to get a glimpse of Olivers real trading records, spending company money on prostitutes, etc.
In 2009, Oliver Velez was one of two partners in TeamTrading (formerly VCM). After branching out the business, greed took over and Oliver decided that he didn’t need his partner and wanted complete control. In order to split from his partner, he had to engineer a conflict that would give him cover for leaving. So, Oliver came up with his “Trade for Wealth” arm, and suggested that he have 100% ownership of it. Predictably, his partner objected as the two had a non-compete clause in their contract, and the fight began. At the time, the way in which the dispute was fought openly in public was puzzling, though now it is clear why.
Oliver removed himself from TeamTrading, while claiming that he was proud of his accomplishments, and that TeamTrading had achieved everything he had hoped and was on stable footing. Behind the scenes, he joked about it, referring to TT as “The Titanic”. He set up a booth at a trade show under his own name, and spread rumors that TT would “be bankrupt within 2 months”.
Oliver played games with bank accounts and the company Paypal account. The Paypal account was in Oliver’s name, so he changed the password and started swiping money. He had Saul Ortiz let him know when money would be coming in so he could withdraw it immediately. He timed withdrawals to bounce the company payroll. One example, there was a 40k deposit from a Stacey Shotwell to fund an Independent account. Oliver knew it was coming, repeatedly checking throughout the day it was scheduled to arrive. When it did, he took that money too, KNOWING it was an IA deposit. He used most of this money to pay his lawyers in his ongoing legal dispute with his partner. His stance was that he needed to be paid for “his work” before people got their deposits back, and that people potentially losing their deposits was just a part of business. Oliver actually claims with a straight face that he has no idea where the rest of the money went. Hundreds of individuals had their deposits wiped out and were left holding the bag.
Oliver began preparing for the inevitable, and once TeamTrading sank, his IFundTraders business popped up almost instantly, ready to serve again. In the initial months after its launch, Oliver stated that it was not his firm, that he was only an outside consultant. As time has passed, his face is now everywhere.
Because the “Oliver Velez” brand is his only asset, and knowing he couldn’t expect those who were ripped off to go quietly, he has strung them along, keeping their hopes up that they will be repaid, only to default on that promise. He is now denying any liability, while telling them to wait indefinitely, hoping that with time these traders will grow tired and move on.
We are good people, who were lured to VCM/TeamTrading by a salesman named Oliver Velez. He is wrong when he thinks he can take our money and then cast us aside. This website is dedicated to the traders who have not been refunded their money. But it is also open to all individuals who have been sold the dream and let down by Oliver, more so each day. If Oliver wants to continue taking people’s money, he needs to honor his obligations and deliver on his promises, neither of which he has done.
If you wish to contribute to the sites content, email your story/content/materials to firstname.lastname@example.org. We are in this together.
Do the right thing Oliver!