TCI REVEALED
January 1, 2010
Welcome to TCIR, the website for TCI Investment Club members
July 24, 2010: I have been asked for an update on the TTI case. There is a hearing coming up but no trial date has been set. I will post that trial date when it is known. TCI Marketers Ross Alexander(London), Peter Snyder(Woodstock) and Richard Hughes Kitchener) will be involved in that trial.
July 8, 2010: "Scam no real 'emergency': This is the heading in today's newspaper. The article warns seniors of a growing 'grandparent scam" in which a person on a phone call asks for cash to be wired to assist a grandchild in an emergency. Police warn seniors to discuss any such request with family members before sending any cash.
June 24, 2010: Public court records obtained indicate that the IRS issued a summons in 2006 for Dr. Hennessy's pure trust bank account covering the period from October 2000 to March 2004, and undeclared commissions from Global and/or NewShore sales could be involved. (Trusts and IBCs were sometimes used to deposit commissions from Global and NewShore and to receive withdrawals from TCI, in the hope that they would protect the owner from taxes.)
June 17, 2010: The court trial: USA v Hennessy was set to begin in Detroit on Monday June 21, 2010 at 9am. It has been postponed.Hennessy is charged with attempting to evade taxes (see posting in Jan and Feb for more info). IF this case involves failure to report his Global/Newshore commissions and his involvement in TCI, it will be an indication that Marketers are being aggressively pursued. Will Canada be far behind?
May 31,2010: "Alleged Canadian Ponzi schemer swindles 70 million". A
Canadian named Nicholas Smirnow, operating out of southern Ontario,
has been charged in a 70 million dollar Ponzi scheme by US authorities. The full article is listed unter the Main Menu: Pathway to Prosperity.
May 16th: Yesterday's posting seems to have struck a chord with people out there because there has been a lot of activity on this website. Do you suppose some Marketers are worried when they see law enforcement moving in on both sides of the border?
May 15th, 2010: MORE FRAUD CHARGES LAID: In today's London Free Press there is an article about Woodstock's Peter Snyder who was once again charged with fraud, along with his wife. He was also charged in the TTI Investment Scam (detailed under the main menu) and while investigating that matter, police discovered several people who invested 116,500 in N. Star Development Ltd. As in the TTI case, investor funds were found in the personal accounts of those charged. A definite pattern is emerging where TCI Marketers have been involved in other schemes. It is heartening to see that police are taking action to stop this behavior.
April 11, 2010: A member wrote: " Why wouldn't all Marketers want to recommend we join the lawsuit? They are certainly not doing anything to help us!"
This is not the place to outline the legal reasons why Marketers would want to discourage you from joining the lawsuit. I would suggest that they may be more concerned about protecting themselves than whether or not you recover your money. The article called Open Letter to Marketers, written in 2007, is worth another read.
April 10,2010: A Michigan member writes: "If the TCI Marketers are telling members they will still get their money, then we have a saying for that here in Detroit "That's like leaving the night light on for Jimmy Hoffa"."
April 9, 2010: Our lawyer has posted an update on the SKM site. It is impossible to discuss much of the progress being made but we hope that full disclosure will eventually be possible. Some Marketers have told members that our lawsuit is going nowhere but that is far from the truth. We continue to believe that the best way to recover your TCI funds is by joining the lawsuit group. Please beware of Marketers who tell you otherwise.
April 2, 2010: Happy Easter to all. There continue to be enquiries about joining the lawsuit and it is still possible to do so. If interested, please read Registration Directions under the Main Menu, and email admin@tcirevealed.com for assistance or questions.
Feb 19th, 2010: A Michigan member reports that the Hennessy trial date is now pushed back to June 21st. Surprisingly, 5700 pages of documents have been submitted to the courts....we wonder if any of them concern his activities with TCI, Global or NewShore?
Feb 17th, 2010: Kudos to Canada's Bloc Quebecois for their bill to prevent early release for white-collar criminals. They currently can access day parole after serving 1/6 of their sentence and this bill would prevent that from happening. Let's hope it passes.
Jan. 7/10: A Michigan member has sent information about Dr. Michael Hennessy, a Michigan dentist/TCI Marketer under indictment for failure to pay taxes from 2000 to 2003. Information on the case will be placed in the Hennessy file under the Main Menu.
Nov.13/09: For investors in EMI Resorts/ Sun Village or Juan Dolio, sold at Global and heavily promoted in Ontario, the following initial forensic report will be interesting reading:
http://www.ratupdate.com Click on "preliminary forensic link"
Oct.31/09: A US member forwarded the following links which outline the legal status of Pinnacal Quest International, described as the followup to Global Properity. It was described as involving Dave Struckman and Dan Anderson, both convicted in US courts for running Global. Interestingly, the PQI seminars started the same year that Global was shut down, and they are now in a US Federal court for promoting tax evasion strategies.
To read more:
http://www.justice.gov/tax/txdv08278.htm
http://www.northcountrygazette.org/2008/09/02/ny_irs_fraud
Oct. 30/09: A member sent me a link today to a "New Shore Affilate" called Wealthy Difference. It's funny how some of the testimonials are TCI Marketers who became original shareholders in New Shore. Are they plugging their own Company? With the track record of most of these outfits, I recommend that you be very careful before forking out any money to any of them. It seems as if most/all investments made at Global seminars were scams, and it's certainly possible that the ones that came after Global are following the same path.
Oct 29/09: Today's Detroit Free Press has an article about a $50 million Ponzi Scheme in the Detroit suburb of Southfield, Michigan. It was supposed to be a private equity real estate fund. It victimized about 440 investors, mostly in Michigan and Ohio. Hearings on fraud charges began in federal court in Detroit. The name of this company was BBC Equities, the BBC stands for Billionaire Boys Club. The rash of Ponzi Scams won't go away, or rather, the authorities seem to be prosecuting them more actively. It's about time!
Oct 28/09: Two Michigan members have notified us of a recent IRS indictment. Michael Hennessey, from the Detroit area, has been indicted by the IRS for a reported 1.1 million dollars of unreported income from 2000-2003. They said that Hennessey was a 'big promoter' of TCI, Global Prosperity and NewShore during those years.
Oct.21/09: Headline: Stiffer Penalties for White-collar Crime. Finally, the Canadian government is introducing new legislation to recognize the severity of crimes such as fraud. They note that: " fraud can be every bit as devastating as a physical assault" and ask for minimum sentences of two years for criminals who bilk their victims of more than $1 milion. It may not be a perfect legislation, but it's a start in the right direction. To read the full article, look for Stiffer Penalties at the bottom of the Main Menu.
Oct 11/09: Happy Thanksgiving and Columubus Days! This weekend's news highlights two investment fraud criminals. Andrew Lech, coincidentally a friend of Bill and Kevin Rath, just couldn't stop engaging in "dishonesty and manipulation" while on day parole. You'd think that his time behind bars would discourage the behaviors that landed him there, but obviously not. As a result, he's been stripped of day parole. In Quebec, Vincent Lacroix was sentenced to 13 years for swindling hundreds of their savings, but could be released in a much shorter time. Perhaps the Canadian judicial system should give longer sentences, or require these criminals serve their full term. As victims, we don't get reduced sentences for good behavior!
Sept.16/09: Canada's Conservative government is looking to create a Securities Crime Unit to investigate and prosecute investment frauds. If you enter the name Securities Crime Unit in any search engine, like Google, you can read current articles in newspapers across Canada and even in the US. I encourage you to contact your local MP to express your support of such a bill. Also prominent in news articles is a focus on criminals who leave Canada to avoid prosecution, and who move to places without extradition agreements with Canada. Our defendent, William Rath, fled Canada in 2006. It would be helpful to our case if Canada also looked into his situation as the RCMP have a warrant for his arrest.
Aug 25/09: Group to help Victims of Fraud: a headline in today's newspaper. Kudos to Joey Davis and the Ottawa area group that will advocate for victims of white collar crimes. The organization will lobby governments for tougher penalities, push for one national stockmarket regulator, provide emotional support and raise money for a victim's fund.
Organizers say they want to send a message to politicians that they want changes to the laws that deal with this kind of crime.
Aug. 12/09: Jail for Fraudsters in Heartless Scam: Today's headline in the local newspaper details the sentences given to former TCI Marketers who are now going to jail for their involvement in a mortgage/credit card scam. Sentences are: Paul Stapylton, 3 years, Andreas Toth, 30 months, Donald Coastworth, 18 months, John Boyle, 12 months. Seems like not that much for ruining peoples' lives, but they are also ordered to pay back their victims.
Aug.6/09: Many thanks to the numerous members who have emailed me recently with information about Bill Rath and Ross Alexander and news from their Marketers. It is unbelievable that after 7 years of excuses, some Marketers are still suggesting that the money is coming soon, and expect that members will just sit and wait. Remember, the longer a case drags out, the harder it is to prosecute, although there is no time limitation on fraud. I have also heard from various members recently who have lawyers involved in collection actions.
July 28/09: It must be scam week here in London because today's newspaper has a front page article "Fraud Victim loses cool" outlining the victims' anguish at being scammed and losing marriages and life savings. Three of the 4 men convicted in that scam were also TCI Marketers; Paul Stapylton, Andreas Toth and Donald Coatsworth. It is very discouraging that these people move from one scam to the next, but at least these men will be going to jail. Our hearts go out to the victims, many of whom are TCI victims as well.
July 27/09: Members have also asked for an update on the Defendents named in the TCI lawsuit. Bill Rath fled the country three years ago and is wanted by police in Canada and the US. Ross Alexander is still here, but was charged by the RCMP last summer in an alleged scam called TTI and is out on bail awaiting trial. Charles Gordon has never surfaced and is likely a made-up name. If you happen to have information on any of these Defendents, please contact us at: admin@tcirevealed.com.
July 27/09: Members have asked where New Shore fits into the TCI picture. When Global was shut down, a group of Marketers, who had sold Global, formed a replacement company which they named New Shore. It has also offered offshore seminars and sells investment opportunities. You can find it online at Google. Many TCI members were offered a reduced fee to join New Shore after Global was closed down.
July 25/09: Global, also known as IGP or Institute of Global Prosperity is a product many of us were required to purchase when wanting to join the TCI Investment Club,between 1998 and 2002. The US government convicted the managers of Global years ago and they have all spent time in prison. Many who attended the offshore seminars expecting valuable education about money management and introduction to supposedly hand-picked investment opportunities, have lost all the money they invested there as well. Marketers pushed us into Global and pocketed approx. 5000US of our money. Many of them did not even attend a seminar themselves. Back in 1998 the US justice Dept ordered a cease and desist order against Global sales in at least 5 US States, including Michigan, yet almost all TCI members were sold the product after that time.
June 30th: U.S. District Judge Denny Chin made this statement in his comments yesterday: " Here the message must be sent that Mr. Madoff's crimes were extraordinarily evil and that this kind of manipulation of the system is not just a bloodless crime that takes place on paper, but one instead that takes a staggering toll". For those of us who have also experienced a similar crime, we applaud his recognition that vicitms experience "a staggering toll" and that such bloodless crimes are still "extraordinarily evil". Only victims can truly understand the impact, but Judge Chin's comments make a profound statement to the North American justice systems.
June 29th: Hoorah for the US Justice system. Bernie Madoff has been given the maximum sentence possible: 150 years in prison. All victims of these financial frauds can appreciate that the courts are taking these crimes very seriously. Let's hope that Canadian courts do the same.
May 13/09: One TCI victim is currently challenging his Marketer in court..
Dec 16/08: Todays newspaper outlines a 50billion dollar ponzi scheme that included funds from many powerful and famous people. I guess that scammers are hitting us at all levels, wealthy and poor. The other thing that is apparent is that people involved in the tci investment have just moved on to other "projects", resulting in the charges and trials noted below. It begs the question: What are authorities doing to stop the proliferation of fraud schemes against citizens?
Aug 21/08: A second article found in InvestmentExecutive.com is also posted under the TTI Investment Scam heading in the Main Menu. It names all six of those charged, including Ross Alexander, Peter Snyder and Richard Hughes, all familiar names in Marketing of Global/TCI.
Aug. 16/08: Front page news in today's London Free Press: Ross Alexander is one of six charged with fraud in an investment scam called TTI: Themed Technological Innovations. Our lawsuit is mentioned in the article. I will upload and post the article under the Main Menu. Interesting that two of the defendents named in our lawsuit, Bill Rath and Ross Alexander, have been charged or convicted in other crimes. Ross in TTI and Bill in a US Satellite card fraud. There is a warrant for the arrest of Bill Rath and any information about his whereabouts should be shared with London RCMP. Also, London RCMP ask that any other investors in TTI contact their detachment at: 519-645-4329.
July 22nd: This website mostly remains for the benefit of new members who continue to stumble upon it. I recently spoke with a new member from Michigan and request that he email me again for further information. Following completion of some procedural issues, I will ask our lawyer to post another update on the SKM site.
April 29th: To recent enquiries from non-lawsuit members, 1) Yes, it is still possible to join the lawsuit. Directions are under the main menu as Registration Directions.
2) We are not going to release lawsuit details on this site. Lawsuit members have access to updates through the lawyers.
March 22nd: A US member has recommended that both US and Canadian victims file an online complaint at a government site called: www.ic3.gov. You can easily complete your complaint online. This data is compiled and forwarded to authorities in your area. You may not have all the data they request, but others have already provided some of those particulars and it is in their database. We encourage all members to consider this complaint, whether they are part of the lawsuit or not. The wesite you want to reference is: www.cryptocipher.com, the site where TCI issued their newsletters and statements.
Dec. 28th: The following link is interesting reading for those of us who had to purchase Global to join TCI. It shows that Cease and Desist orders were issued in many US States BEFORE we were sold the product.http://www.fraudsandscams.com/globalprosperity.htm
Our thanks to those Marketers who sold us this product after the fact and likely knew what was happening in the US. Is that why my Marketer would not let me sign up a US friend? Is this why our Marketers have their heads in the sand right now and won't help us?
Members may wish to read about Bill Rath's other court case at: http://www.digitalhomecanada.com/forum/printthread.php?t=1262
He disappeared and is assumed to have fled the country in the spring of 2006.
You can contact us at any time at: admin@tcirevealed.com
Jan. 7/10: A Michigan member has sent information about Dr. Michael Hennessy, a Michigan dentist/TCI Marketer under indictment for failure to pay taxes from 2000 to 2003. Information on the case will be placed in the Hennessy file under the Main Menu.