Sure Trader for U.S Residents
- Thread starter Jacob
- Start date
https://www.justice.gov/usao-nj/pr/...17-million-microcap-stock-manipulation-scheme
Guy Gentile = Boss of Sure Trader
Any questions?
Better look at TradeZero...although I wouldn't want to bet the farm on their integrity either...
Guy Gentile = Boss of Sure Trader
Any questions?
Better look at TradeZero...although I wouldn't want to bet the farm on their integrity either...
googly mooglie
http://www.tradingschools.org/reviews/sure-trader-guy-gentile/
"The broker dealer for Sure Trader is another company that Guy owns, this company is known as Swiss America Securities. If you now visit the website, everything has been stripped off and it appears that Swiss America is no longer operational. In all likelihood, all of Sure Traders trades are now being routed through some unpublished avenue.
I reached out to Sure Trader over the past few days and attempted to get some guidance on what is happening with the company. It appears that the company is now being managed by a local “place holder” executive named Antonio Collie. A search of Antonio Collie in the Bahamas reveals that he is a local account, but in reality his is just a proxy for Guy Gentile.
I did speak with Justin Ritchie, known as the Deputy Director of Sure Trader and he did not want to comment. However, he did reach out to me and said that Sure Trader would be releasing a press release in the coming days. I expect that the press release will talk about how everything is going to be OK with the company. But in truth, nobody really knows. The vast majority of the trading accounts are US based customers and I am sure the SEC, the FBI, and the US Attorney have been watching Sure Trading for many months.
Technically, since Sure Trader caters to mainly US customers, they should be registered with FINRA, but thus far they seem to have dodged the bullet of the regulators. Will this continue? Will the next axe to drop be onto Sure Trader? I dont know. It would be irresponsible to speculate. However, knowing the shit storm that Guy is currently facing, I would be really surprised if he pulled anymore BS."
http://www.tradingschools.org/reviews/sure-trader-guy-gentile/
"The broker dealer for Sure Trader is another company that Guy owns, this company is known as Swiss America Securities. If you now visit the website, everything has been stripped off and it appears that Swiss America is no longer operational. In all likelihood, all of Sure Traders trades are now being routed through some unpublished avenue.
I reached out to Sure Trader over the past few days and attempted to get some guidance on what is happening with the company. It appears that the company is now being managed by a local “place holder” executive named Antonio Collie. A search of Antonio Collie in the Bahamas reveals that he is a local account, but in reality his is just a proxy for Guy Gentile.
I did speak with Justin Ritchie, known as the Deputy Director of Sure Trader and he did not want to comment. However, he did reach out to me and said that Sure Trader would be releasing a press release in the coming days. I expect that the press release will talk about how everything is going to be OK with the company. But in truth, nobody really knows. The vast majority of the trading accounts are US based customers and I am sure the SEC, the FBI, and the US Attorney have been watching Sure Trading for many months.
Technically, since Sure Trader caters to mainly US customers, they should be registered with FINRA, but thus far they seem to have dodged the bullet of the regulators. Will this continue? Will the next axe to drop be onto Sure Trader? I dont know. It would be irresponsible to speculate. However, knowing the shit storm that Guy is currently facing, I would be really surprised if he pulled anymore BS."
It seems the SureTrader site is still operational and active. Hopefully the indictment does not have any impact on other customer accounts. I wouldn't have guessed that Guy Gentile would be involved in such a scheme, given that SpeedTrader was also one of his companies.
Here's the SEC.gov press release and complaint:
https://www.sec.gov/litigation/litreleases/2016/lr23496.htm
https://www.sec.gov/litigation/complaints/2016/comp23496.pdf
Here's the SEC.gov press release and complaint:
https://www.sec.gov/litigation/litreleases/2016/lr23496.htm
https://www.sec.gov/litigation/complaints/2016/comp23496.pdf
The process involves filing paperwork to comply with "FATCA" and "FBAR".
You can read about it here:
https://www.irs.gov/uac/newsroom/ta...ve-fbar-and-fatca-filing-requirements-in-june
So as long as I file that paperwork I'm ok?
Read the links. If you have any foreign account over $10,000 in your control, then you should be ok, as long as you don't miss the deadlines for FBAR, as the penalty is quite severe.
SureTrader, according to their own site, claims they follow all rules regarding FATCA, which means they WILL share your information with IRS.
So if you ever plan to have $10,000 or greater in your account, then you will have to file the paperwork with your 1040.