What happened at VCM/TT?

Update:

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.

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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 contact@olivervelezrefund.com. We are in this together.

Do the right thing Oliver!

 

{ 109 comments… read them below or add one }

Anonymous January 7, 2012 at 11:24 pm

Amen. Its about time someone skewered this fraud

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Clarification May 28, 2012 at 7:37 pm

A clarification of the first sentence reference to VCM, “In 2009, Oliver Velez was one of two partners in TeamTrading (formerly VCM).” VCM is Velez Capital Management.

As part of the engineered conflict by Oliver Velez outlined above and his plan to separate from Charles Vaccaro, the first step was to remove his name from the company, hence it was changed from Velez Capital Management to Team Trading.

Other than that, the company structure and officers remained the same at the time of the name change: Velez and Vaccaro were partners, Velez listed as CEO and Vaccaro as President (see links below).

Note: In the links below, Vaccaro’s online handle is “Truthshallsetyoufree”. This is known by almost all who dealt with VCM previously. His many posts under this handle were attempts to establish credibility for his latest venture and scam, and also to discredit anybody who wrote any information of their previous problems with Vaccaro’s earlier ventures.

http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=58140403

https://groups.google.com/group/misc.invest.stocks/browse_thread/thread/34329be7b397a13e

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Anonymous January 11, 2012 at 5:18 am

Thats great, so where the hell is the SEC after all this time? We all filed complaints and the NY AG as well. How can he still be accepting funds from people, with all the financial reguations. What is the purpose of a legal system. I guess we’re just small fish.

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JP April 4, 2012 at 2:59 pm

We should of had Steven Spilsburg investing with us , so there would be something done about it.
Bernie was put away for the rest of his life.

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The SEC is coming November 13, 2012 at 4:12 am

Not.
If you want to see what the SEC will likely do, start by reading Markopolos’s book, “No One Would Listen”. It’s about Bernie Madoff’s $65 Billion fraud. Almost sixteen years and warnings and detailed accounts of Madoff’s ponzi scheme and fraud were given to the SEC on a silver platter and the SEC investigated Madoff Securities eight times over that time, and yet nothing was done. This book details better than most what the SEC did in this and similar cases/scams/crimes.
And for anyone else still believing OV’s lies about IFT, one of Madoff’s sales lines for his investment scam was that Madoff Investment Securities was the largest market maker in NASDAQ volume, and handling up to 15% of total volume. He was Chairman of NASDAQ and also started payment for order flow. Ha! Now go read one of Velez’s recent full page ads in one of the business papers – almost word for word sales pitches about Velez’s huge prominence and size in the markets. What a joke, when you know what his ragtag “army” of traders really do.

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Anonymous November 24, 2012 at 7:54 pm

His army of traders are all on demo accounts!! How can he advertise that he has provided a huge percentage of market volume. Seriously!? Maybe it’s like his awards he wins – all wild fantasies in his mind. How can new people thinking of signing up believe this stuff?

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Anonymous January 13, 2012 at 3:55 pm

The lying bastard. And there were a small minority of former traders in 2008 who were warning people not to get sucked in. I ignored the warnings and today I am out 35K. Thanks Oliver, I hope you enjoyed your new suits, golf trainer and lap dances at Sue’s Rendesvous. Fuck the SEC and NYAG.

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Trader32 January 14, 2012 at 8:07 pm

Interesting to read. I remember a few years back it was hard to find much negative press on Oliver Velez but it now seems to be creeping out everywhere. Good luck getting your money back.

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Anonymous February 1, 2012 at 7:05 pm

where is our money? the money that desapeared

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Anonymous February 3, 2012 at 8:42 pm

Oliver Velez?????? Trade with him again???? He says in the chatroom that it is “his money”… that fucking lying son of a fucking cocksucker. How is that for integrity you fucking snake oil selling nigga…. back to your apartment in Da Bronx!!!! Busta bucket trader baby….

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Anonymous February 5, 2012 at 4:27 pm

Links to this site needs to be posted everywhere. Start here http://www.ripoffreport.com/

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Anonymous February 7, 2012 at 7:30 am

Oliver Velez, you lying scammer… paid for your own table at Sue’s Rendesvous with your traders risk deposits. Then try and blame Charlie…. you fucking sick bastard. Go to church and ask for forgiveness… but really find it at Sue’s… Where is our wire now?????

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Anonymous February 7, 2012 at 7:58 am

When I asked them about where my money went, they threw me out of the chatroom!!!!!!!!!!!

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Kelly February 7, 2012 at 1:49 pm

Cool blog!

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Anonymous February 12, 2012 at 2:50 pm

Oliver Velez = Madoff 2.0. Except this ponzi MoFo gets away with his shit. Thanks NYAG and SEC, you good for nothing sons of whores.

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Anonymous February 12, 2012 at 2:56 pm

Somebody ice this fraud. He is giving the once respectable profession of stock trading a bad name.

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Anonymous February 12, 2012 at 2:57 pm

Oliver Velez = FRAUD!!!! Run, do not walk away!!!!!!!!!!

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Anonymous February 12, 2012 at 2:57 pm

I am sure Oliver Velez would take more of your money if you offer it to him as well.

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Anonymous February 12, 2012 at 3:00 pm

Spent my 8k with Olliver, got tossed out of the chatroom when I wasn’t happy with the nearly non existing “training”. Green Bars and Red Bars and wait for it, a Neutral Bar!!!!! No Shit Sherlock!!!!! Am I ever sorry I heard of this gangster. I was better off going to Las Vegas or lighting the money on fire.

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Anonymous February 12, 2012 at 3:01 pm

I should have bought Powerball tickets instead of taking this bullshit lying scammers trading course. And as for his cheap fees for trading, go to Ameritrade and get a better deal from a real trading outfit.

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Anonymous February 12, 2012 at 3:04 pm

ifundtraders and Oliver Velez is a scam, pure and simple. Amazing he is not in jail.

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Anonymous February 12, 2012 at 10:56 pm

Runs his FX “business” from the Carribean, that is so next time he can just disappear to the Dominican Republic, Cuba, Panama or other legal black hole. No legal wrangling, just a clearer path to taking more of people’s money. “On your honor, on your integrity”… remember those words Mr. Velez? Such piety… but in reality, you stink. Every pimped out business suit and lie you print in your books and the internet is now coming undone. Ever hear of a “perp walk”, get ready White Plains…. btw Ollie, what size are your wrists? Make sure those cuffs get nice and tight behind your back!

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Anonymous February 15, 2012 at 3:09 pm

Does anyone have a home address for the OV?

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Anonymous February 15, 2012 at 11:49 pm

No home address yet, but I bet he still makes a regular appearance at Sue’s Rendesvous and Platinum Pleasures New York. I am going to go to the next NYC trading fair and confront him, and make sure anyone else stays away from this rat bastard too.

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Anonymous February 16, 2012 at 7:45 pm

olivers home address….14 richbell road, white plains NY 10601
home #: 914-356-3339

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Court Case Against Oliver Velez February 17, 2012 at 10:22 pm

Filing Date: 11/04/2011
Disposition Date:
Calendar Number:
Jury Demand: No
Judge Name:

Attorney/Firm(s) For Plaintiff – Big Rock Park LLC:
Gutman, Mintz, Baker & Sonnenfeldt, P.C. Attorney Type: Firm
813 Jericho Turnpike
New Hyde Park, New York 11040-
(516) 775-7007 ext:

Attorney/Firm(s) For Defendant – Oliver Velez:

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Court Case Against Oliver Velez February 17, 2012 at 10:23 pm
Patrick the Hat Trick. February 27, 2012 at 12:32 pm

Lied to me in the sales orientation as well. None of it was true later on. Funded accounts, expert trading room instruction, level progression, it is all BULLSHIT!!!!!!!!!!

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Oliver Velez Lawsuit Update February 28, 2012 at 3:13 am

Stay Tuned Folks, here are some more details, this time Oliver found a lawyer:

WebCivil Local – Case Detail

Court: Bronx County Civil Court
Index Number: CV-067933-11/BX
Case Name: Big Rock Park LLC vs. Velez, Oliver
Case Type: Civil
Classification: General
Filing Date: 11/04/2011
Disposition Date:
Calendar Number:
Jury Demand: No
Judge Name:

Attorney/Firm(s) For Plaintiff – Big Rock Park LLC:
Gutman, Mintz, Baker & Sonnenfeldt, P.C. Attorney Type: Firm
813 Jericho Turnpike
New Hyde Park, New York 11040-
(516) 775-7007 ext:

Attorney/Firm(s) For Defendant – Oliver Velez:
Meiselman, Denlea, Packman, Carton & Eberz P.C. Attorney Type: Firm
1311 Mamaroneck Avenue
White Plains, New York 10605-
(914) 517-5000 ext:

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Gordon Gekko February 28, 2012 at 3:25 am

US Residents, Lets Drop a Dime on another Ponzi Artist… OV

SEC, NYAG, are a bunch of paper shuffling bureaucrats.

Nobody gives a shit about us.

Now lets try the FBI….
http://www.cnn.com/2012/02/27/justice/fbi-douglas-financial-crime/index.html

Coming to get you Oliver!!!! Club Fed waiting for you baby.

Perp walk anyone???? Sell that at the traders expo. Along with OV’s ringside table at Sue’s Rendesvous…

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Get Sued at Sues... February 29, 2012 at 3:14 pm
Anonymous March 4, 2012 at 11:14 am

An observation to what Trader 32 states above on 1/14/12 – that negative press is coming out everywhere on the web about Oliver Velez. Yes, it is. And it is accelerating. His former traders who he stole money from are coming together and not going to let this happen to new people.

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Anonymous March 15, 2012 at 6:11 am

This site has a lot of other true stories about ov and ifundtraders.
http://investimonials.com/websites/reviews-ifundtraders.aspx

And none of the stories are good about him.

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Anonymous April 4, 2012 at 8:33 pm

Does anyone have the link to the lawsuit between Oliver and Charles? I remember finding it a while ago. It was a case about the paypal money Oliver had sent from the business account to his wife’s personal account.

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Charlie Vaccaro = Scam April 13, 2012 at 1:59 pm

I and numerous other day traders have been trying to get our funds returned from Vaccaro for over 3 months now. Right before Christmas Vaccaro ordered the firms Broker-Dealer (AOS, in Chicago, now called Trading Block) to wire all clients funds into his own personal BofA acct. Element has since closed it’s doors, phones have been disconnected, and Vaccaro, being the coward he is,is holed up in his $1.7 million home in Port Washington, NY.
Go ahead and Google Vaccaro, and see for yourself, see what a horrible reputation this man has. The Regulators & Authorities have been notified. The NY District Attorney’s office has been notified.

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Anonymous September 29, 2012 at 4:46 am

Charles Vaccaro has a new scam.
http://finance.yahoo.com/news/element-trading-technologies-inc-announces-124500889.html

NEW YORK, NY–(Marketwire – Sep 18, 2012) – Element Trading Technologies Inc., a company which trains market traders to successfully trade stocks with the company’s proprietary trading account, has completed a reverse merger into United Treatment Centers Inc. ( PINKSHEETS : UTRM ). Element Trading Technologies will be filing with FINRA for a company name change and new trading symbol.

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A video for Oliver Velez.... April 30, 2012 at 8:58 pm

A song for Oliver Velez… ya baby… Rise………………..

http://www.youtube.com/watch?NR=1&feature=endscreen&v=d4VCNe1twOU

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Alejandro June 19, 2012 at 4:57 pm

Velez is starting to expand to Latin America and make some BIG moves there, as I could read on this month number of TradersMagazine.

http://www.tradersmagazine.com/issues/25_338/victor-rodriguez-trader-rebuilds-110060-1.html?pg=1

He has joined forces with some Venezolan guy named Victor Rodriguez (http://cdn.tradersmagazine.com/media/newspics/victor_rodriguez.jpg and here is a nice picture http://cdn.tradersmagazine.com/media/newspics/victor_rodriguez2.jpg)

As it was stated in the article, theyre planing to hit SouthAmerican pension funds with some investing fraud.

Administrator, could you please create a post about this, to let google cache this?

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justine June 28, 2012 at 3:27 am

Oliver Velez now has his son JONATHAN VELEZ involve with his scheme. He has been stealing people’s money, taking his independent account money for his own personal use.
After spending our money in strip club, and more so on his family, he now decided to bring his son JONATHAN VELEZ to help me grow his so called Ifundstraders. What a shame. Since he will end up in jail for stealing from his independent accounts and blame it on someone else, lying to be people to sign a release for him that he knows well he will never honor, I bet his son JONATHAN VELEZ is on the right path to jail as well. Unless his mom, perhaps has a sense to stop her husband for involve this child in his scheme. Or perhaps the whole family just love to steal from other!

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Pat July 4, 2012 at 1:19 am

Here’s a whole list of all his scams… http://investimonials.com/publishers/oliver-velez.aspx

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Anonymous July 20, 2012 at 9:02 pm

What a classic thief. Keep on taking until he ends up in jail.
OLIVER VELEZ = THIEF

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Those Who Can, Do And Those Who Can’t, Teach. What Side Do Greg Capra And Oliver Velez Represent? July 19, 2012 at 1:08 am

Yep, you guessed it, they teach. For over 17 years, Oliver Velez and Greg Capra, original founders of Pristine.com and Mastertrader.com, have been persuading thousands of hopeful day traders, swing traders, or any traders for that matter, to spend hundreds of thousands of dollars on their trading methods. But not only that, once you are educated in their self proclaimed winning ways, they continue their marketing attack and persuade you to open a brokerage account with their wholly owned firm Pristine Securities LLC, DBA Mastertrader.com.  Now, this would be all fine and dandy if what they taught you actually worked and made you money, but does it?  Does it even work for them?  Do they make money trading their own accounts?  It’s doubtful.  And there are many events and reports on the internet that point to the answer being an emphatic NO!

Okay, so Oliver and Greg have not been running Pristine.com and Mastertrader.com together for all of those 16 years but they jointly ran it for approximately 11 years with Oliver Velez at the helm as the CEO and Greg Capra the President.  It was after 11 years that they had a falling out and Greg forced Oliver to step down via a hostile shareholder vote but Oliver still remained a majority shareholder; even after he went on to start Velez Capital Management (vcmtrading.com) and Team Trading (teamtrading.com).  Both of which, as of 2010, are out of business and no longer in operation with clients being left with huge losses and an empty wallet.  During the downfall of those businesses guess what Oliver was doing. Yep, he was launching a new company knowing full well that his current company was on the verge of going belly up.  Ifundtraders.com is his newest moneymaking scheme (actually it’s the same scheme just a different entity).

What is frightful is that the longer these two individuals remain in business, the more people they will persuade into their programs. Why? Because for some reason people think that because a company or person has been in business for 5, 10, 15 or more years that they must be honest….That they must be credible.  If they were not, how could they remain in business for so long?  People, there is a major fallacy in that way of thinking.  I hope it’s safe to assume you know who Bernard Maddoff is???  Hmm, how many years was Bernie Maddoff in business before the crap hit the fan?  20 Years? How did things work out for those clients? You see, business longevity means nothing when the scam is so perfectly orchestrated.

What is even more frightful is that although after Oliver’s  VCM/Team Trading went bankrupt and the management team had stolen the money of all its clients, Oliver Velez is still able to persuade those same people and others into buying into his new (really the same) faulty program.  C’mon people.  How red does that flag need to be?  The man isn’t even allowed to process credit cards anymore and is being denied by Paypal.  Are you really going to wire your funds to him? If you so desperately feel the need to get suckered, at least do it with a credit card so that you have some protection of a possible chargeback.  With a wire, it’s bye bye forever.

Now don’t get me wrong with the title wording of this article. There are teachers that can also do. Those who fly planes are qualified to teach others to fly. Those who perform brain surgery are certainly qualified to teach brain surgery and those that actually make money trading can also show others how to make money trading.  So do Oliver and Greg make money trading their own accounts? Why don’t you ask them?  Chances are they will say yes.  In fact that’s all they talk about. How they are the best traders in the world.  How they wrote this phenomenal book or recorded that incredible DVD. In fact, Oliver calls himself “The Messiah of Day Trading” and says he makes hundreds of thousands of dollars from his trading. Now that’s a gut buster….I don’t think so people.  More like hundreds and thousands of dollars from persuading clients to send him money.  Do Oliver Velez and Greg Capra have any proof that they are great traders?  Where are their trading statements? Where are their audited performance reports? Are the educators that they use profitable? Where are the trading statements for them? Why don’t they post their live trades for the last year? For the last 16 years?  The sad truth is that you will never see proof. Never!  And you know why?  Because it doesn’t exist… they just don’t make money trading.  They are nothing more that slick salesman Ooooing and Awwwwing you with their faulty trading education. More like magicians.  Now you see it…Pooof, Now you don’t!

Look, I understand that not everyone is cut out to be a trader.  Although one education program may turn a person into a profitable trader, it may not necessarily turn another.  But please, when the numbers are so skewed that the majority of student traders never reach profitability after all that hype, after all that education, there is definitely something wrong.

Some food for thought:

Greg Capra and Oliver Velez launch Belvedere Asset Management with the dream of being a profitable trading fund.  Greg Capra was the lead trader. What happened to the fund? Why is it no more? Was it ever profitable?  Doesn’t seem like it.  The only answer we can come up with is that Greg Capra could not turn a profit in the account.

Oliver’s trading statements are thrown out on the internet via a video presentation that shows how really bad Oliver is as a trader and the thousands of dollars that he lost by trading the company account. 

VCM Trading/Team Trading closes its doors.  Under the Trade for Life program (did you really believe it would last for life?), Oliver Velez taught thousands of prop traders how to trade (in return for millions of dollars in education and trading fees) and pretty much none of his students learned to be profitable traders.  Even after offering lifetime retakes of the training and years of trading, still the net result is unprofitable traders. Perhaps VCM/Team Trading would still be in business if he himself was a profitable trader and was able to teach others how to truly be profitable.

Why is Greg Capra still in business?  He was smart enough to continue sending his students to his Mastertrader.com retail brokerage firm and make even more money on the commissions that those traders generate.  Whether the trader loses or wins, Greg Capra ends up making a profit.  Sure, he’ll make more if the trader is profitable but does that really matter?  He’s betting that their hope of being profitable will outlast their bank account.  And that hope is kept alive with his education as he motivates and encourages them that with time and effort, they will eventually be profitable.  After all, they’re a Pristine Method graduate, profitability is only a short reach away. In the meantime, keep churning those trades.  Hmmm, there is something definitely wrong with that picture.

For many months, even years, the writing was on the wall (on the internet) as to the high level of risk in doing business with Oliver Velez. Many complaints and many warnings (see elite trader link below) were being made about the faulty teachings (which included many of pristine.com’s material) and demise of VCM/team trading. But many people ignored those warnings because of their cult like belief in the Oliver Velez promise of wealth. Now those people are out of thousands of dollars and the same business model is now being used at Oliver’s  new company, ifundtraders.com.

Another item many people don’t realize is that Oliver’s so called money, the money he says you can trade, the money he uses from your purchase of his programs is never really used for trading. Your trades are never sent to the market. Primarily for his forex programs. The beauty of this model is that almost all of his students will lose money. And since the orders never go to the market, where do those lost funds go to? You got it, the Messiah of Scam Artists, Oliver Velez. Pristine’s plan is very similar. Buy education, open an account, keep funding the account as often as possible and trade your way to Greg Capra’s commission riches. You see, What they are really selling is HOPE. And as long as you keep smoking their hopium, they will keep raking in your dollars.

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And those like OV, just continue to take July 25, 2012 at 3:52 am

Good write up on the real tactics of Velez.

He has been selling the same old program based on the same old lies for many years to hook new people in the markets. Anybody who wants to see some examples here’s some:

http://www.tradewins.com/Images_Custom/PDF/Velez_TFL.pdf old VCM BS, he’s used it for years and it’s the same today, if not worse.

http://www.youtube.com/watch?v=StRb7qASucI&feature=relmfu Lies and more lies.
at time 7:25 he says “we’ve found the most desperate individual in the group, haven’t we!!” Yes, good insight on who he preys on – desperate people in desperate times.
7:50 He’s “won every award including the international trader of the year in 2009, and I think I’m up for it in 2010.”
Later, he talks about his global trading team, 3000 traders, 2200 equity traders he personally funds. He takes all the loses, but, “we split the gains, and you get the lion’s share of the gains.”
9:05 “If you’re down $40,000, then I eat that, I absorb the losses.”
9:25 The wealth trading team – his wealth traders he has 314 traders now.
more bs at 10:20 all of his traders daily figures. Incredible BS, but, that’s what desperate people pay to hear.

And it continues every day. This Monday, July 23, 2012, on page A18 of Investors Business Daily, a full page ad with more of the same: (he continues to run this ad in IBD and other publications).
$15,000 profits per day, up to 85% of all trades make money, “You can Master in Less Than a Day”. 300 million shares per month, Top 10 NYSE liquidity provider for Nasdaq. More BS, it just ooozes from the newspaper, from Youtube, from the web, from his books, from webcasts. How red can the flag continue to be?

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Mjftrader July 20, 2012 at 3:45 pm

So Velez is claiming he has made almost everyone whole on the money he and Vaccarro STOLE from the independent trader? Well he hasn’t made me whole, I’m owed almost $20K. My release expired 12-11. As usual, HE LIES!

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market scammers July 20, 2012 at 4:20 pm

AT THIS POINT AND TIME, I am owed thousands of dollars, signed the release over a year ago and nothing. I guess crime does pay, thank you SEC and all those government agency. You take our SEC fees and no protections what so ever. Oliver you know your full of hot air, but I cant just blame you. I blame my self for being so naive and especially the SEC for not stepping up and putting you and Charlie Vaccaro in jail from day one. I am not going to give up trying to get my hard earned money or at least letting people know my story and experience with dealing with Oliver at Olivervelez.com, Word of advice, stay away from these two scam artest…….

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Anonymous July 21, 2012 at 11:15 am

Early 2012- one year release expired; a/b $2,500

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cvg July 21, 2012 at 11:46 pm

As a professional and excellent Candle Stick reader I was lured to OV site because what he said
about candles made sense. Thanks to all you gracious bloggers I will listen but not spend a
dime on his products. By the way, what is so unusual about about the SEC and AG. They are acting
normal. They new about Bernie years before the explosion. No major firm was use him because
he could never produce the due diligence to be accepted. He was a fraud just like the rest of them.
It is always the small guy left holding the bag. Take the time to read Steve Nison’s book on candles. . Also read Tom O’brien book “timing the trade”. Combine the two and you are off to the races. I give you this info because as a professional my heart goes out to all of you. Contact me anytime.

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and then there were none July 24, 2012 at 4:23 pm

Oliver was in Colombia last November/2011 participating in the so called “International Traders Congress” in the city of Bogotá. Apparently he is trying to make a big move here in south america. Thanks to this page I will be warning everybody about his scams.

Picture related, Oliver in Colombia: http://i50.tinypic.com/29ld2xx.jpg

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G.M.D. July 24, 2012 at 5:32 pm

I was lured to Mr. Velez VCM trading business by a Marketing firm out Chicago. Cost in the thousands, promising that if not happy for whatever reason the money would be refunded. I fell in the the trap. The company that provided the platform for VCM was okey. By the time I was breaking even to making some money, Mr. Velez announced he was leaving VCM because problems with his partner not caring about the so called members( partners) like me. He founded IFUND TRADERS, abandoned the Platform I have become familiar with and lunch a phantom new platform from a firm called Blackbox, which was a disaster: frequent upgrades, frequent crashes, changed trading windows in the middle of trading, in others words a non reliable platform for small trades like me. I did noticed that the problems above did not happen to the “millionaire” teachers of the program.
Obviously there were two platforms: one for the little guys and another one for the big players. Several e-mails and telephone calls about this finding remain unanswered to date. I quit trading with Mr. Velez new IFUNDTRADERS. I am still waiting for the refund promised by the crooks out of Chicago.

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Anoymous November 1, 2012 at 8:12 pm

You are smart to have gotten out or you’d be funding the crooks $65 a month for the platform fee from level 1-3 and over $200 a month from level 4 and up!! It’s just a false hope to get the tuition back, might as well quit and saves on the platform fees which add up before you know it. So far they are not telling us how many traders are really profitable. There are many signs IFT is going under soon such as the chat room is still shut down despite the markets have resumed trading! So are those really professional traders?

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Next Victim July 26, 2012 at 10:29 pm

I got scammed for $20K. Have been waiting 2 years on the promise to refund within 1 year. They were so concerned about us, and full of righteousness, swearing to refund us when trying to build IFundtraders. “I will make everybody whole” said Velez over and over again. Now that enough water is under the bridge, we are totally ignored. The only thing Velez ever mastered is Fraud

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Kevin Marciano August 1, 2012 at 8:54 pm

Well I guess I was scamed too. When I read about his interests the one thing that impressed me was his favorite book was the bible. I figured maybe this guy just got caught up in a situation and he truly wants to pay every one back. I like every one else signed a release and really expected to be reinbursed the 5000. It has been almost a year now and Bill doesn’t even answer my e-mails. Well I am not going to let this make be a bitter person. I’m just going to move on. Maybe this was a blessing in diguise, Thanks to Oliver I’m out of trading completely; the 5K loss really hurt but maybe this stopped me from losing more.

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Victim 490 August 22, 2012 at 5:21 pm

Kevin : we have to warn others about Oliver’s scam.
New victims have to be warned that OLIVER CAN’T TRADE
Otherwise he would of traded a couple of weeks and paid back the traders’s money.
He can’t pay us back because he can’t trade.
WE HAVE TO LET NEW POTENTIAL VICTIMS KNOW THE TRUTH
If he starts trading profitably and pays us back the money he stole from us, I will spend the next year, telling the world that he paid back and he kept his word.

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Johnny Justice September 3, 2012 at 5:09 am

People should be warned that he is a con man, period.

It’s not about that he can’t trade, which most who had their money stolen or who just quit after experiencing some of the ongoing lies themselves know that he can’t – trade.
It doesn’t matter how much money he has or doesn’t has, he is not going to pay back any more previous traders/clients. That is not what people like that do.

Look at the people who were behind Enron, WorldCom, HealthSouth, Madoff Investment Securities, and what they did in each case. Look at all the other cons on the street and elsewhere – check out American Greed, and the new Fugitives show. Look at went on for years that caused the financial crisis – go read “The Big Short” for starters. These people all have a common level – greed. These people, like OV are out for themselves, period. They’ll do anything to get more money.

Go listen to the same old scam here: http://www.youtube.com/watch?v=StRb7qASucI&feature=relmfu

The financial crisis itself brought scores of new people to OV, those who lost their jobs. That was his biggest growth period because people were desperate. Now he is roaming the globe for more desperate people, new suckers.

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Anoymous November 1, 2012 at 8:19 pm

Let’s all tell CNBC to put these people on the American Greed!
Maybe then he’ll refund our money he owed us!?

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JP January 16, 2013 at 6:37 pm

Yes, AMERICAN GREED, That is a good plan, we should contact them, see if that will put some pressure on Oliver Velez and Ifundtraders to REFUND THE MONEY.

VICTIM 500 August 14, 2012 at 3:13 pm

I fell for the scam, WHERE IS OUR MONEY?
If it is true that the scam-er is the best trader in the world, I have the solution for the problem for all the victims that got scamed and for the scamer.OLIVER
The scamer claimes he was making $50,000. a day at his first job trading. All he has to do is go in his basement trade 10 profitable days. THAT IS $500,000. with that PAY US BACK THE MONEY YOU STOLE.
Why would the best trader in the world want negative press for the next 100 years every day if he could just trade for two weeks , pay back all the $ he stole and that would be the end of it,
All the victims would be very busy on the internet telling the whole world that he came through and paid everyone back.
There is only one reason I can think of, THE SCAMER CAN NOT TRADE. OLIVER IS NOT A TRADER
If there is an other explanation some one please tell me, I can’t think of any.

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VICTIM 499 August 16, 2012 at 3:42 pm

Here is the scam he pulled on us when he claimed to pay us back.:
There were accounts that had $20. $35. $75. so he paid some of this people back a few dollars and then claimed that he paid back a huge portion of the independent traders.
What about the people that had $87,000, $25,000. $40,000. no way he is paying that.
He can’t trade and can’t make money trading to pay back the traders.
The cat is out of the bag, the entire world will know that OLIVER VELEZ CAN’T TRADE…

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exVCM August 21, 2012 at 6:41 am

Well, i was lucky . Went in with $3000 to do prop(rieterry) trading

Take a look at this

http://www.trader32.com/2010/09/oliver-velez-scam.html

Speficically appropriate for thewho were elun iated annihiated

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exVCM August 21, 2012 at 6:43 am

This is a special wrningfor ll of our firends in Blivia Bogota! ADVISO, MU DANGERUSE

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andy September 15, 2012 at 12:38 pm

Hi everyone,
well, well, well I can say I just got 2 days away from wiring € 6.000 for education at the master forex trading program of Ifund traders. Frankly, I cannot say much about what I have been reading on this website but certainly so much negative exposure on the web is a BIG RED FLAG for anyone like me who wanted to get inolved with the IFT new program. I will certainly not join in now and will do a much thorough research on the person O. Velez and his business. Thank you all for posting these warnings. Like one of your posts said “simply assuming that someone who has been in business for so long must be good” is certainly not true…Also I cannot understand, if all that you are saying is true, what the US regulators are doing??? The US is supposed to be the strictest regulatory environment for financial services in the world and still all this recent big frauds have originated form the US… In Europe (if what you say is true) someone like OV will be out of business since a long time…

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JF October 3, 2012 at 4:33 pm

You have no idea how much money and time you have saved your self.
Good luck finding some honest guru out there. Or some good investment.
Oliver can only teach you how to turn $1,000,000. in to $10,000.
Otherwise why would he not return all the money he took from his traders.
The only reason is because HE CAN’T TRADE.
If he can’t make money trading to return to his traders, HOW IS HE GOING TO TEACH YOU.
He is only a fancy sales man.

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John Trishman September 20, 2012 at 3:14 pm

Tonight…online seminar … Oliver Velez direct from Bogota, columbia register and participate : tell him and his clowns what he deserves …

http://www.ifundtraders.com/~odesk1/beta/admin/add_usereventsreg.php?eid=377

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Anonymous September 20, 2012 at 9:12 pm

Even the Madoff victims are getting paid back. how about us. Oliver, you should honor your own release. Just dont get what the SEC is good for.

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Ryan Longwood October 2, 2012 at 9:33 pm

UPDATE: Today is Tuesday, October 2, 2012. Velez called a special / mandatory meeting for all of his forex prop traders. His news? He is now imposing a mandatory $50 per month fee for all traders who have not yet gone live (which is 90% of them). The web of deceipt and outright lies from the snake oil salesman never ends. This is such bull crap! They’ll do any to suck in extra money! This is not what I signed up for. Their answer….if you don’t like it…too bad! Just don’t trade. The odd thing is that many of “his traders” act like he is a god. He truely believes he is like Yoda from Star Wars…alll knowing and full of “the force.” They are scared to speak up because they will simply shut you off and not allow you access to trade. These people are crooks!! Do not spend money with them! You have been warned!

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Anoymous November 1, 2012 at 8:32 pm

yeh, when we go live, it’s over $200 a month of platform fee -
they need our money for their luxurious life style!!

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anonymous November 10, 2012 at 5:13 am

Now those money suckers of IFundtraders know their traders are struggling after paying
$10,000+ tuition fees?
They come up with the Personal and Small Group Coaching program which charges
only a few hundreds of dollars an hour!
Brilliant crooks!!!!!!!!!!!!!!

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Anonymous October 2, 2012 at 10:30 pm

Don’t forget about trader Dan (Marcowski ? ) the head trader on the equity side. He is s failed chiropractor who was turned to the dark side via the Velez money. He claims to make big money almost every day but he won’t / can’t prove it. Whenever you say anything remotely interpreted as negative towards them, they warn you to shut up or they will ban you from the trading room. This is like a cult! The poor bastards are not making money but stay with them due to the propaganda that each trader needs 10,000 hours of practice trading (years) in order to become a true professional trader.

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J&J October 8, 2012 at 8:45 pm

fyi:

another one bites the OV dust…

— On Fri, 10/5/12, iFundTraders.com wrote:

From: iFundTraders.com
Subject: iFT Important Announcement
To: Date: Friday, October 5, 2012, 5:25 PM

iFundTraders Members,
As many of you already know, Jay Frey has chosen to follow a different career path, to become a financial planner for an organization called PeachTree Planning.
We’ve known about his decision for several weeks and planned on sending out a company announcement three days ago to all Options members, asking everyone to join us in congratulating Jay and wishing him the best in his new chosen career path.
Unfortunately, much to our dismay, Jay and his new organization took it upon themselves to preempt our announcement by emailing most of you with a blatant solicitation, which has greatly violated both our company policy and your privacy as a paying member of IFT.
We want you to know that under no circumstances do we sell, share or give away the personal information of our traders and subscribers to other companies, and your angry response to this rather unprofessional act is very understandable.
We apologize for what occurred, but would like every one of you to understand that Jay’s decision to email you was not a company approved move, and in fact was in direct violation of stringent company policy. We know nothing about the new company that Jay is now working with, and most definitely do not approve any of their services or products. In fact, the financial industry is not one we are very fond of and the fact that our entire member list was confiscated for this solicitation, without asking for permission from iFT is very disturbing to say the least.”
We are quite sure they would be just as disturbed and angered if one of their employees did the same with their valued client list. Again, your privacy is very important to us and we do everything we can to protect it and we assure you that this violation is currently being dealt with to ensure that nothing like this ever happens again in the future.
With all this being said, despite our disappointment, we still wish Jay Frey the best in his new career.
On a brighter note, we have been interviewing several very qualified Options experts to take over Jay’s previous position, as the head iFT Options Instructor. We are very excited about some of the people that we have interviewed, but we have not finalized our decision as of yet.
Some of these potential Options Instructors have resume’s, which could take our Options Program to new heights. The program was good before, but now has a chance to become even better, with this new transition.
Once we have decided on our new Instructor, an announcement will be made.
The month of October will be a transition month, and we appreciate everyone showing their patience, as we plan on improving the program. During the month of October, we will not schedule the normal Options activities, but we are going to have a special private training session, exclusive to the Options members. This session will be conducted by Oliver L. Velez personally, as a way of showing our appreciation for your patience. We will notify all Option Full Program members, by email, of the date and time of this special event.
We plan on most, if not all Options activities to start back up in November.
In closing, we are excited with the possibilities of how this program can continue to grow and develop, and look forward to seeing all of you reach your Option Trading goals, with iFundTraders!
Sincerely,
iFT Management Team

Copyright ©2012. All rights reserved.

iFundTraders, LLC
2576 Broadway, Suite #158
New York, NY 10025

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Anoymous November 1, 2012 at 8:31 pm

These instructors are reportedly making 6 figures monthly salaries.
Where does the money come from?
From all the monthly fees the traders pay, of course!
If they can’t pay, they’ll shut down the service like Team Trading and
start a brand new one with a different name.
Actually, it was so good at Team Trading after Oliver and Dan had left.
It was so organized and we could call in to support for problem.
Malcolm was really good at administering the program and
disseminating information to traders.
Too bad Charles V. had to shut it down!
Now, IFT is not responding to traders’ phone calls or emails
once they got their money. What kind of company is that?
A sign of collapse of the company?

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Former VCM-trader November 2, 2012 at 4:13 pm

I was suspended from the program after 4 years because I told them I was not happy with the new
rule of having to pay to be able to continue to trade whith a DEMOaccount.
This is how they conduct theire business. Shutting them down and keep the money.
Oliver has stolen my tuition and stopped me from trading.
They are just a bunch of thiefes, scamming people of their hard earned money.

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MILITARY WARNING November 12, 2012 at 9:41 pm

WARNING Oliver the scammer is out to take money from the military now..
Military personal do your research before handing over thousands of dollars to the scammer.
You will spend years getting scammed. SAY GOODBY TO YOUR MONEY,, you will never see it again.
You worked hard for your money, Don’t let the scammer take it from you.
The reason it sound to good to be true is because it is a scam.
If the scammer knew how to trade he would be in his basement making $50,000. a day. Why the heck is he going to teach you?. He is making thousands SCAMMING suckers like you that are looking for a better life.
Go to college, get some education, get the certifications you need to get a good job etc. Don’t waste your time in crap like this.
It just brakes my heart to think that some vets will be spending time and money being scammed.
You will wish you server one more tour in Afganistan.
Semper Fi

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No Name November 23, 2012 at 11:30 pm

Is this company legit?

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Jim Davis November 24, 2012 at 10:21 pm

No one with the IQ of a hamster would have fallen for this pimps scam to begin with, I posted on elitetrader many years ago that this greasy slimeball was a crook, Most of you are so dumb, that you would have blown the money anyhow eventually, so don’t blame Velez., He just took it faster.

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Zombie Trader December 13, 2012 at 1:13 am

Oliver’s court date is coming up against Big Rock LLC on 03/13/2013…

Beware the Ides of March, you lying bastard OV!!!!!!!!!!!! I hope you get what Julus Caesar got…

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BB January 16, 2013 at 4:46 pm

Zombie What is the battle with Big Rock LLC.?
Did Oliver take their money too?. Did he tell them he could double their money in one month?
Did he tell them YOU CAN TRUST ME . like he told us. and the money vanished. spent on topless bars.
Now we find out he can’t trade. He can only loose money.
He can make $500. on his good days and he looses $90,000. in his bad days.

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JJ January 16, 2013 at 4:26 pm

Zombie trader: tell us what is the court date about?

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ST January 16, 2013 at 4:34 pm

INSTRUCTIONS TO POST:
add the numbers at the bottom and put in the Captcha space.
Example:
=4+2 Put in 6 on the Captcha space

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MB January 16, 2013 at 6:10 pm

The scam artist took me for $35,000.
What happen to the Dr. that lost $87,000. with Oliver, is he alive? did he get any money from the scam artist.

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MB January 16, 2013 at 6:28 pm

Zombie: Tell us if Oliver coned Big Rock LLC?
What is the reason for the court date?

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Zombie Trader January 27, 2013 at 6:42 pm

WebCivil Local – Case Detail

Court: Bronx County Civil Court
Index Number: CV-067933-11/BX
Case Name: Big Rock Park LLC vs. Velez, Oliver
Case Type: Civil
Classification: General
Filing Date: 11/04/2011
Disposition Date:
Calendar Number: P-12-BX-032556
Jury Demand: No
Judge Name:

Attorney/Firm(s) For Plaintiff – Big Rock Park LLC:
Gutman, Mintz, Baker & Sonnenfeldt, P.C. Attorney Type: Firm
813 Jericho Turnpike
New Hyde Park, New York 11040-
(516) 775-7007 ext:

Attorney/Firm(s) For Defendant – Oliver Velez:
Meiselman, Denlea, Packman, Carton & Eberz P.C. Attorney Type: Firm
1311 Mamaroneck Avenue
White Plains, New York 10605-
(914) 517-5000 ext:

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JB February 4, 2013 at 5:58 pm

There was a Dr. from Europe that gave Oliver $87,000. a large part of his life savings, vanished in to thin air. Oliver should pay him the $87,000. Principal
60,000. Interest payment.
50,000. Loss of opportunity
That is $187,000. that he should pay him.
That is only one poor bastard that his life was devastated by Oliver and his gang.
Dr. we have not heard from you in a wile, what happened? did you take the scam artist to court? .
.

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Mike February 5, 2013 at 5:14 pm

Can anyone give an update on what’s happening with O.V. Is a court date coming up for all traders or just those who sue? I got taken for a little over 6K. I got a Notary and signed the release over a year ago and now Bill Deichler is just ignoring my emails. I’m a trader in Canada that traded with Gold and Tony through RTFM. Anyone?

Thanks – Mike

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Rony February 14, 2013 at 7:42 pm

Bill Deichler tell OLIVER VELEZ to pay the money that vanished to the traders that trusted him with their life savings.
When is the next independent traders meeting?.
TELL OLIVER TO BE A MAN OF HIS WORD AND PAY BACK THE MONEY.
IS ANYBODY GOING TO TRUST OLIVER AGAIN, WITH A RECORD OF MAKING MONEY VANISH,, AND NOT PAYING BACK HIS TRADERS?

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Sue February 14, 2013 at 7:57 pm

Who is going to call AMERICAN GREED program?, so we can do a show about OLIVER VELEZ,
and all the traders that he scammed out of hundreds of thousands of dollars..
He can move in with Bernie Madoff, they can get to know each other better.

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John Trishman March 15, 2013 at 4:40 pm

OV now in Spain with Xtb ; More problems for spaniards … beware of the IDUS of MARCH …!

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Anonymous March 23, 2013 at 7:27 pm

The XTB broker must either be desperate for anyone to promote them or have no knowledge of who Velez really is. Contact them and make them and their CEO aware http://www.xtb.com.

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tony April 13, 2013 at 4:24 am

FOREX is free to learn, and years to understand. NO ONE can teach forex, only the
built in brain can condition reflex the forex system. Forex, same as any technique for
learning is a condition reflex operative.
No system is worth a penny . The brain has to conditon reflex before us humans can
operate any system. The auto, airplane, ship, machinery is operated after condition reflex, or
learned expierance takes over. Money and scam artist know this, and fake out a person’s
brain with greed, avarice, lust and all promotions of deception.

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Anonymous May 1, 2013 at 11:17 pm

Velez claims to have more than 2500 equity traders, but every afternoon there are less than 140 “traders” in the chat room and the numbers have been dropping. Dan cannot even call a trade. It seems that the end for the latest Velez scam is close.

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Sue May 18, 2013 at 4:50 am

Unless Oliver pays the hundreds of thousands he owes the independent traders who’s money disappeared. HE IS DOOMED
00000 HOPE FOR HIM

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Zombie Trader May 28, 2013 at 1:56 am

OV is too cheap to pay for a decent lawyer…. hope you enjoyed all your lap dances at Sue’s you bastard!!!!!

Court: Bronx County Civil Court
Index Number: CV-067933-11/BX
Case Name: Big Rock Park LLC vs. Velez, Oliver
Case Type: Civil
Classification: General
Filing Date: 11/04/2011
Disposition Date:
Calendar Number:
Jury Demand: No
Judge Name:

Attorney/Firm(s) For Plaintiff – Big Rock Park LLC:
Gutman, Mintz, Baker & Sonnenfeldt, P.C. Attorney Type: Firm
813 Jericho Turnpike
New Hyde Park, New York 11040-
(516) 775-7007 ext:

Attorney/Firm(s) For Defendant – Oliver Velez:
Self-Represented Litigant

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Wane June 23, 2013 at 5:52 am

Went to OVs last trading open house. Dan is nervous scared trader who claims to place trades,,but nothing is posted in real-time. The verbal calls cannot be follow since not done in any clear way to follow the calls. Then it’s a miracle! He produces a profit.They must have the ability to make fake P&L statements the same way they did at Velez Capital Management.

The options open house was a joke. The presenter could not speak English, very little and went bust on his options calls.

Velez, The Messiah of trading? No trades, No show, Nothing….. After this terrible, amateur event,,Demetrius Wright promotes a less than convincing spiel to fork over your money to join the forever paper traders that pay for that privilege.

Demetrius Wright should have a spot next to Bill Deichier on your IFT sales page. Maybe he should have his own page since he has almost as good line of lies as Velez..

When will it stop????

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Sue June 28, 2013 at 11:55 pm

It will never stop, as long as there are new SUCKERS willing to hand over more money to the scammer that CAN NOT TRADE.
Who has seen Oliver trade profitably lately. NOBODY
HE CAN NOT TRADE IF HIS LIFE DEPENDED ON IT.
OLIVER RETURN THE LIFE SAVINGS OF YOUR TRADERS, before anyone will take you seriously.
The post in the internet will only stop after you are gone permanently from the planet.
GIVE BACK THE MONEY $$$$$$$$$$$
RETURN THE MONEY

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Joe July 5, 2013 at 9:16 pm

Why does OLIVER THE SCAMMER need your $8,000.? he claims he has auto trading systems (black boxes) that trade for him 24 hours a day, any one that believes his CRAP needs a brain transplant.
Think about it, if you had 20 black boxes trading for you, making $10,000. a day each. that is $200,000. a day, would you be out begging people to give you money, when you can make that kind of money?.
If that was true he could return the hundreds of thousands $ that disappeared. TRADERS MONEY.
Before you join, tell him to trade publicly, make a few hundred thousand dollars, start the paymet of the traders’s refunds with his proffits.
Otherwise your money will disappear too.
96333 future victims have been saved so far.

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V G July 17, 2013 at 9:30 pm

I wonder what is the next scam he is going to pull?
This scam is almost up.
Almost 100000 potential victims saved.
Bernie Medoff is enjoying his new home,
I wonder who is next?
IT does not have to go the same way.
Just RETURN THE MONEY TO THE INDEPENDENT TRADERS

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JR August 9, 2013 at 8:47 pm

OV is not a profitable trader. CV gave us the proof in his video. OV is not a Messiah, he is a a modern Hudini in letting money disappear. An (de)-Illusionist in fact. He constantly goes “short” with traders money and can´t loose because as CV stated: The US protects criminals. Paul was a successful trader and knew why he left the company. Dan Mielcarski is not a successful trader either and needs the money by teaching people. He is always teaching newbies: it doesn´t look good on the hourly…. or on the 15… and when he was right he got enthusiastic. Then he can explain why it wouldn´t have been a good short or a good long. He reminds me of Allan Harper in Two and a Half Men. A Chiropractic Pseudodoc aswell. Not a real Doctor;))) as Evelyn would say. Pecunia non olet. Instituations like the SEC work very slow but cheaters will all get what they deserve. Earlier or later.
I like the ad when OV states: Join our session and we will show you how we pull out thousands of Bucks out of the market. How cynical. The “market” is your pocket! He is the Messiah of letting money disappear. His stage is the “Money Show”. Ladies and Gentlemen, I proudly present Oliver Velez and he will let disappear your money and you will get a fortune back when he leaves. Applause.The ticket cost $ 10.000, some got it for $ 7900 and they think it was a bargain. You go home with an illusion and only the complete idiots like me bought another ticket for the “Forex” Money Show”. I was the biggest looser in the illusion game. Some of you know who I am. Be warned and be aware that in the US or in Panama it is “legal” to cheat. In Europe they would be nailed. Why does OV not step into the EU since years? Why is he presenting his “Pull out Money of the pockets” shows in Latin Ameiica? If he puts one of his foot in the EU he will be arrested. His son is supporting his cheat and is on the list of Interpol(o), too. The time will come. In a global world the wild west gets close and closer. He went to far. I feel sorry for all my collegues who invested their money in a dream of (trade for) wealth and happynes. All illusion. Gone by the wind…..

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Alex August 25, 2013 at 10:23 pm

Wow, what a joke! Now OV has his son involved in a swing trading program………A NEW SCAM! Best thing I ever did was stop paying any attention to iFundTraders almost 2 years ago. I was with VCM and followed the messiah and his disciples Dan and Mike.

I certainly was gouged out of 6K joining OVs RISE BS. How he can get away with screwing the independents out of thousands of dollars is what I don’t get. I never would have given him any more than the “education” I paid for. I visit the room every now and then and the daily number of people in there keep dropping. This guy deserves to be shut down, he is not a trader by any stretch of the imagination, he is a party animal however at Sue’s Rendezvous. RISE OV, RISE!

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JJ September 15, 2013 at 5:57 pm

Has the scam artist Oliver having any meetings to return the money to the traders he scammed?
Now it is over $1,000,000. including interest.
IS THE SCAM ARTIST GOING TO PAY BACK THE MONEY?

DON’T LET THE SCAM ARTIST TAKE YOUR MONEY

HE MADE MY MONEY DESAPEAR

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CC September 15, 2013 at 6:10 pm

Is there 4 traders in the world that profitable, that OV trained.
Out of over 10,000 traders is there only a few.
I know out of the 3000 that he trained in the last five years , not more than one was profitable. that one is questionable if his profits were only from bringing in more suckers, not from trading.
Do the math, even if there was 10 profitable traders out of 10000, you have better adds of buying the lottery.
Even if you are the one lucky one that can make money with his system, you can make more money working for McDonalds selling burgers.

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Joe September 15, 2013 at 6:13 pm

Bernie make room for a new room mate, he will be there soon.

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Trader_AL October 2, 2013 at 10:16 pm

A new scam is out, some kind of self directed program where you pay a fee and then a monthly fee on top of it, money must be running thin now. IFT has 2600 equity traders, but last time I visited the room there were 137 people in there.

Best thing I ever did was leave the day trading world behind me 2 years ago and go to selling option premium. It took me a long time to realize that day trading does not suit my personality and shorter to medium term option trading, mainly selling, occasionally buying D70 calls and longer term D20 calls suits me so much better. I still like to hear OV talk for some good entertainment value.

I did learn some things from VCM/IFT that help me in overall market analysis, but beware of getting involved with them. They want you to struggle and stay at the demo level for years so they collect the platform fees and try to soak more money out of you. Just remember, there have been many traders burned by the independent program, and fleeced of thousands of dollars of hard earned money. These traders will not forget, I got some education for the 5K I put in, so I don’t consider it a complete waste, but buyer beware and read all the comments carefully if considering joining OV and his merry band of thieves.

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Never again October 6, 2013 at 10:19 pm

My advice for new traders will be to stay away from IFT. They have no interest in your trading or allowing you to trade “their” capital. Do your research and find a better solution for yourself. IFT will not help you trade…

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Anonymous October 12, 2013 at 11:22 am

Why is everyone complaining that the SEC is not doing anything when the 1500-2400(depends on who you want to believe) traders who gave Oliver 10k-15k+ just to join had money to throw away for that, but nobody had a couple of grand to get 4 or 5 guys together who got reamed to have a class action suit? The SEC as usuall is malfunctioning.
HAS ANYONE NOTIFIED THEM WITH A CERTIFIED LETTER THAT MUST BE SIGNED FOR? HAS ANYONE DEMONSTRATED IN FRON T OF HIS OFFICE?) Question 3 for all you guys…………WHAT DO YOU THINK OLIVER WOULD BE DOING IF YOU DID THIS TO HIM? SITTING ON THE INTERNET COMPLAINING ABOUT IT? THINK REAL HARD!

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Anonymous October 12, 2013 at 11:36 am

Remember when Oliver called us his “baby traders” And that “I want all of you to know but I will never abandon you guys. You guys are my baby traders.” THIS POS NEVER EVEN SENT A LETTER OF APOLOGY, NOR IF IT REALLY WAS HIS “SECRET” PARTNERS MISDOINGS THAT MADE ALL THIS MONEY DISAPPEAR…WHY DID HE NOT OFFER SOME SUGGESTIONS HOW WE COULD BE MADE WHOLE AGAIN. AND DO ALL OF YOU FORGET, THE WEEK BEFORE HE OFFICIALLY WENT UNDER, HE WAS TOUTING A FOREX COURSE AND IT WAS ONLY 5 GRAND INSTEAD OF 12 FOR HIS BABY TRADERS. Awwwww, I’m getting tears in my eyes.

And yes….I too was immediately locked out of my account after I asked him the moderator where exactly is all our money being held to the best of his knowledge?” Then when I asked several employees there how I could get in touch with Paul Lange who was the trade caller who left 1 week before they disbanded and he too promised we’d “all be ok” I asked for his email and that got me barred from logging into my own account. Then I listened to him saying “This is my money, you just paid for the course…how yu act and what you do makes it up to my discretion if and when I let you trade.” I have been praying for all this time he said that to a wise-guys son who joined this scam boat. No one had the stones to stand up to him. Where he finds such weak people is beyond me. Yes I do know that many of the traders were senior citizens, but still….where are you cajones???? And the young guys, they could have written in to our daily newsletter of 500 VCM members to put a lawsuit together. Did anyone besides me try to do this? I think you all have been trained by now to just sends in a check and “hope” you get a fair shake. Boy…I wish I had your money. I had to borrow on my Visa card to get my sign up money. My credit to this day will never be the same again for years. Seriously, Its unreal. We all know where to find him. He’s always popping up for a seminar here and there. At some point even he may steal enough and just disappear. Then we are all screwed. Seeing him in Jail would make me work a month for nothing just to see it. This is a disgrace on both sides. The thieves, and the lambs who got fleeced. And who in the world is Charles Vacarro? Did anyone ever find out if he was actually involved in the scheme or Oliver just used him too. I never saw an operation with 2000 traders and no one knows anything . Is there not a legal aid lawyer in NY that would take this case for nothing? You bet there has to be! It would make his career!

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JJ October 30, 2013 at 8:55 pm

If there is a lawyer out there willing to take on this case please let us know.
One of the reasons no one did anything was that there was the lie, that we will get our money one day.
THE FALSE PROMISE ,
Now we all know he will never keep his word and he has no intentions of returning our money.
Some one out there that is a lawyer, or has a close lawyer contact, let us know what is our chance of getting anything out of the charlatan.
We do not want to spent the money, if there is 0 chance of getting anything.
We are saving new victims here in this site. 119,143 possible victims saved.
If anyone has any other bright ideas to get our money back, please tell us .
Stop him from taking money from new traders.
We all signed the contract that we will get our money back, it did not happen.
WHAT IS OUR LEGAL RECOURSE ?

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Anonymous October 31, 2013 at 7:17 pm

You don’t need a legal aid lawyer or any lawyer if you go to small claims court. The cost is small to make your case to a judge. If you were taken for more than small claims court allows. At least you may get some of your money. Nothing to lose.

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JJ December 23, 2013 at 10:27 pm

The small claims is a excellent idea for the smaller accounts, for the larger accounts it will not work, something is better than nothing.
Where do you file the small claims?. New York, or the place where you purchased the service?.(place of the scam)
If it is New York, that will pose a problem for the people that are in Texas, New Mexico, Colorado, etc. it will cost thousands to go to New York, file and the costs of the travel hotels etc.

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Chopper1035 November 20, 2013 at 7:13 am

Once upon a time in a village, a man announced to the villagers that he would buy monkeys for C$10. The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at C$10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at C$20. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms. The offer rate increased to C$25 and the supply of
monkeys became so little that it was an effort to even see a monkey, let alone catch it! The man now announced that he would buy monkeys at C$50!

However, since he had to go to the city on some business, his assistant would now buy on behalf of him. In the absence of the man, the assistant told the villagers. “Look at all these monkeys in the big cage that the man has collected. I will sell them to you at C$35 and when the man returns from the city, you can sell it to him for C$50.” The villagers squeezed up with all their savings and bought all the monkeys.

Then they never saw the man nor his assistant, only monkeys everywhere!

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AC February 6, 2014 at 2:37 am

Just say NOOOOO to being SCAMMED.
Would you give money to Bernie Madoff. No
Then don’t give money to his evil twin brother.

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