Element Trading remains in theft of traders funds, 18 months later!

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My $1,500 is off, and so is your $12,000. Most jurisdictions hover around $5-6,000.

Here's a link with a state-by-state breakdown.

http://www.civiltree.com/library/smallclaims/small4.php


Regarding the prosecutor's comment - if they committed fraud (which it seems likely based upon their reputation on ET), then it's criminal.

Trying to recover the funds is civil, but realistically, most will never see a dime should they pursue it. And it's not because it would just go to the lawyers - it's because the money is gone....

It would be cool to be sneaky - file suit, find a way to get notice served without their knowledge, get a default judgment when they fail to appear, find their assets, then start attaching any and all assets at the creditor's hearing before they catch wind of what's going on...

A pipe dream, for sure, but it'd be cool...
 
Quote from Rearden Metal:

Sure you've heard of them! Vaccaro and Velez are two of the most notorious con men in the industry. There have been countless threads on ET about this:

1) They set up shop and put out plenty of ads with outrageous claims about all the free easy money you can make with their amazing new program.

2) They get a bunch of marks to deposit their hard earned money.

3) They steal all the money and run away.

4) Go to step 1.

The SEC staff has better things to do than their jobs, after all.
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Sound like a serious bunch of scumbags. Why don't the agreived file suit? Sounds like an easy case to prove-- or are there contracts that the marks sign that make it appear they are investing in a business that simply went under? There has gotta be more to this story than simple fraud. surf
 
Can you explain again how you collect money from overseas in small claims court from your extensive knowledge?

Quote from marketsurfer:

Sound like a serious bunch of scumbags. Why don't the agreived file suit? Sounds like an easy case to prove-- or are there contracts that the marks sign that make it appear they are investing in a business that simply went under? There has gotta be more to this story than simple fraud. surf
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Quote from oraclewizard77:

Can you explain again how you collect money from overseas in small claims court from your extensive knowledge?
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Hop on a plane and pray you're not on the No-Fly list or have porn on your laptop....
 
Quote from marketsurfer:

Nope, never heard of them before your post. You state that you and others lost 17k--- small claims can be up to 12k depending on your/.his state.... If your personal losses are above the small claim limit, why not take the guy to regular court? Other than there is more to this than you say. I don't get it.
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he is like you. he doesn't come up with numbers. did he lose 17k or was it 17k in total for all traders. a simple sentence is too much for the semi-literates on ET. it is not you but the original poster. you interpreted it the same way i did.
 
Quote from oraclewizard77:

Can you explain again how you collect money from overseas in small claims court from your extensive knowledge?
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Clarify what you mean--- the scumbags moved overseas or the marks are from overseas....
 
Quote from zdreg:

. did he lose 17k or was it 17k in total for all traders. you interpreted it the same way i did.
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I read it to mean the total amount stolen was 17k from all traders. That's why i suggested small claims court rather than waiting for the "prosecutors" or SEC--- the statute is running out...
 
Jerry B,

You know, if you would just post your warning and move on, everything would be fine. But no, you've got to post the same thing over and over and over again on multiple threads. It's clear from your post history that this is the only thing you have to share on these boards. I mean really? You have nothing relating to trading that you want to contribute except for an unapproved solicitation to check out your algo (which is a violation of conduct rules BTW).

I realize that you are owed money. Getting taken advantage of when it comes to cash that you earned is never an easy thing to go through. But you've had ample time and space here to post your warnings. You've received cease and desist letters from the opposing attorneys, and you still just keep on, like none of that matters. Well, it matters to me, and like people here have told you countless times, you need to work out your issues through the legal system. ET is not a court of law.

In summary, your incessantly repetitive posts are just outside the boundaries of this site and you need to stop them immediately.
 
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