Francesc Riverola,
London Pearson Ltd… If you Have Nothing To Do With Scammer AVS Carter… Why on Earth You Have Messed Things Up This Way?
Hi everyone,
The more I look at this issue, the more messy it gets and harder to understand so I’ve decided to make an open letter to London Pearson Ltd. management and welcome them to explain themselves here.
I’ll try to explain what has happened here with the major clarity possible:
Current London Pearson Ltd management were employees/shareholders of the Forex Scam AVS Carter. What this company did was register as a CTA a company at the US NFA to let clients to believe they were dealing with a regulated entity when the truth was that they were doing it with a non-US based company as the NFA’s company never had a single client. As a result of that, the NFA permanently barred Chicago Forex firm AVS Carter Financial Inc and sactioned its principal SHAHZAD AKRAM.
At the NFA’s complain, it states: “NFA spoke to Vivek Reddy (”Reddy”) who works at AVS Carter Financial’s Chicago office and is a principal of the firm. Reddy told NFA that there are several other firms, all of which are foreign firms that use the name AVS Carter AVS Carter Trading, Inc. (”AVS Carter Trading”), AVS Carter Asset Management, Ltd. (’AVS Carter Asset Management”), and AVS Carter Investment, Ltd. (’AVS Carter Investment”). According to Reddy, AVS Carter Group, lnc. (”AVS Carter Group”) is the holding company for all of these entities.
Additionally, Reddy stated that AVS Carter Financial has the same owners and employees as these other entities.”
In my e-mail conversations with Mr. Vivek, he told me that AVS Carter Asset Management Ltd. (domiciled and licensed in Belize) is owned by Niladri Bhattacharya and Ahmad Mirza (as of January 2010) as Saby Upadhyay and Vivek Reddy transferred all shareholding and control to them in early 2010.
Since then, Upadhyay and Reddy founded London Pearson Financial in New Zealand and was registered as only being owned by Reddy and Upadhyay. For further separation, London Pearson Ltd. was also founded in NZ and this is the entity that the site Londonpearson.com belongs to. Both firms are owned only by Reddy and Upadhyay.
You can check here that both companies London Pearson Financial and London Pearson Ltd were effectively created in NZ as Mr. Vivek says:
Are you still following me?
But there are a couple of things that are really messing things up:
1. Web Site Links as I explained here Forex Fraud - AVS Carter Is London Pearson Now… Be Careful! and that I’m not going to go all over it again.
2. The mysterious note you can find at AVS Carter web site stating:
“Important Notice: This is hereby confirmed that Mr Ahmad Mukhtar Mirza has left the AVS Carter Group on 19th March 2010 and his other two partners Mr Sabyasachi Upadhyay and Mr Vivek Gopal Reddy are the only directors and are full responsible for all matters onwards including the pending, current or future withdrawals , for any details you may contact admin@avscarter.com.”
Regarding this, Mr. Vivek told me that they are taking legal measures against it.
3. I had here a certificate change name from Belize sent by a friend of this blog. After being requested by London Pearson that this certificate was not real, I went to check things out to:
http://www.ifsc.gov.bz/licensed_provider.html
There I could not find any trace of any London Pearson company and found that AVS Carter Asset Management Limited is still listed as a licensed provider for trading securities 2010.
So London Pearson claims that they have nothing to do with AVS Carter. It is perfectly true, but then doubts arise once again when you see that the new entity created in New Zealand London Pearson Financial Limited - today a deceased company - had as a previous names:
As you can check here:
Dear Mr. Saby Upadhyay and Vivek Reddy, I would really love that you would give us all an answer that would clarify things up for us.
If it was really true that you have nothing to do with AVS Carter… Then:
Why did you use exactly the same content, design, lay out of a Forex Fraud firm to build up your new company’s web site?
What is the purpose of the note at AVS Carter web site giving you the ownership of the firm? Why?
How come you still share corporate address in New Zealand with that company?
Who made the change from AVS Carter Asset Management Ltd name to London Pearson Financial Ltd? Why? Why there are two companies with the same name, one in Belize and another one in New Zealand? What is the purpose of that?
Why do you bury London Pearson Financial Ltd and start fresh with London Pearson Ltd?
What can AVS Carter trapped clients can expect? Are they going to recover their money?
What are your responsibilities - business and ethical - as top management of the scammer AVS Carter with its trapped clients?
How did you accept AVS Carter misleading clients when you were a principal of one firm of the group?
Put yourself in our shoes… Will you give yourself a second chance or the benefit of the doubt?
I welcome here your comments. This blog is at your disposal as we are all eager of answers.
If there were any in-correction in the text above, please let me know and we will adjust it.
Thanks
Francesc
F, this is solid investigative journalism.
Forex fraudsters should not be allowed to operate just because they change the name of their company… It is so easily done these days.
Great Job Francesc
They are liars and fraud
AVS Carter
London Pearson
Vivek
Saby
and all other
Fantastic writeup,these guys and companies must be dealt with by the law.
this is the fifth month that the AVS carter company has not payed its clients funds. all of the AVS carter clients are now complainants.this company has embezzled all of its clients funds and now disappeared.they have also disabled the accounts of their clients.
the companies they have established by their clients money are iaforex.com and londonpearson.com.
please every one help not to let these hustlers deceive more people.
Reply With Quote http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/11114-avs-carter-known-scam-now.html
Hi ..I am also victim of AVS Carter and now London Perason([کاربران ثبت نام شده مجاز به مشاهده لینک ها می باشند. ]). From 3 months I am claming for my money.Many times Mr.saby and Vivek said we will pay you in next week.But 3 months has gone, they didn,t pay anything.Now Mr.saby has blocked my account in London person and close my open positions by himself.I have all records of e-mails and phones which My.saby and Vivek sent me and admitted for paying my amount.Now they are not paying .They are the big fraud.I reached to NFA, IFSC, nzd securiets and I met the many victims of them.Victims told me about their amounts.Now we all shud go to the Media like CNN, BBC, Fox news, bllomberg, and many more.So others can know about thease cheaters.We are thankfull Of Mr. Francesc Riverola
http://forum.sarmaye.com/showthread.php?p=422956
Wonderful job Francesc.
you changed your site.
if you even change your name,what will you do with the history of your job????!!!
Mojtaba,
In your post you say all AVS Carter clients are now “claimants” and I assume this means you are referring to a court case.
I tried to find any court cases against AVS Carter in the matter you describe of not being paid and I cannot find any.
Just for grins, I also googled Alpari Scam, Gain Capital Scam, FXDD Scam, Deutsche Bank Scam and found pages of people claiming they haven’t been paid.
I’m just playing the devil’s advocate here in search of facts.
Got any case numbers that we can all verify?
Forum posts from anonymous usernames carry very little weight with me.
Thanks,
Jack
I am not anonymous
The case will be filed soon Jack
hi,
In addition to $51830 which AVS withdrawled for themselves without my request,the amount of $62704 was in my account when my account has been disabled.
With the money of clients like me ,Mr Sabyasachi Upadhyay , Mr Vivek Gopal Reddy and Mr Ahmad Mukhtar Mirza have funded London Pearson and IAForex.
Here is one of my documents of my account:
AVS Carter
Account: 300205 Name: Farzaneh Hagn Talab Currency: USD 2010 July 12, 15:12
Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
806127 2010.07.12 00:01 buy limit 0.01 usdchf 1.0000 0.0000 0.0000 2010.07.12 02:33 1.0566 cancelled
806165 2010.07.12 02:34 buy limit 0.01 xauusd 1121.00 0.00 0.00 2010.07.12 10:52 1207.90 cancelled
806252 2010.07.12 09:07 buy limit 0.01 si_u0 17.430 0.000 0.000 2010.07.12 10:52 17.994 cancelled
806268 2010.07.12 10:09 buy limit 0.01 eurusd 1.2430 0.0000 0.0000 2010.07.12 10:53 1.2564 cancelled
806312 2010.07.12 13:21 sell limit 0.01 eurchf 1.3426 1.3460 0.0000 2010.07.12 15:00 1.3369 cancelled by dealer
0.00 0.00 0.00 0.00
Closed P/L: 0.00
Open Trades:
Ticket Open Time Type Size Item Price S / L T / P Price Commission Taxes Swap Profit
No transactions
0.00 0.00 0.00 0.00
Floating P/L: 0.00
Working Orders:
Ticket Open Time Type Size Item Price S / L T / P Market Price
No transactions
Summary:
Deposit/Withdrawal: 0.00 Credit Facility: 0.00
Closed Trade P/L: 0.00 Floating P/L: 0.00 Margin: 0.00
Balance: 62 704.27 Equity: 62 704.27 Free Margin: 62 704.27
You are absolutely right Farzaneh
With the money of clients like me ,Mr Sabyasachi Upadhyay , Mr Vivek Gopal Reddy and Mr Ahmad Mukhtar Mirza have funded London Pearson and IAForex.
Now they will do the same again with those companies.
farzaneh, Mojtaba,
I am also a victim of AVS Carter. Is there already any joint effort to fill a case against AVS Carter? I would like to join. What is the legal firm managing the case?
Regards,
Jorge
Dear Jorge,
yes you can send your complaint to Central Bank of U.A.E it means that you should complain about Elfina Financial Investment Consultancy coz AVS was working under thier laws, and also send your complain to CFTC.You can read and find the news and the comments about AVS in the link below:
http://forum.sarmaye.com/showthread.php?t=4809&page=63
this site is updated every moment with the hottest news.
you should register for accessing to the site.
http://insidernetwork.tumblr.com has been disabled by Tumblr, maybe one of our scammers is behind this
I report me case AVS Carter and London Pearson to
http://sfo.govt.nz/Serious_Fraud_Office.html
All others do same please
i did a little bit of research and found that basically London pearson,AVS CARTER and WSD Global markets are all linked.
AVS CARTER had the same address 475 Mt Eden road,Auckland.
and London Pearson is AVS CARTER. Fantastic. so who is who .
i did anonymous calls to WSD firm in New Zealand and asked if they knew anyone from AVS cArter. the receptionist or someone asked me to hold for a WHILE and then the line was diverted and i was asked anyone i had in mind that i like to speak with.
I checked if the firm were same and he replied the relationship had existed a while ago but is terminated now.
so who is who guys? my funds are still stuck with AVS. however i had spoken to a gentleman called Subbu many a times when my positions were stuck or i had some META TRADER ISSUES.
WHO IS WHO AGAIN ??? AND EVERYONE FOR SOME REASON IS LINKED WITH THIS NEW ZEALAND . WHTS THE ISSUE HERE ?
sam
After having done considerable research here, it is clear that AVS and Sabyasachi Upadhyay (SABY) are synonymous with scam and fraud. In less in 18 months AVS has been brought down to ashes mainly with stewardship of Saby. The guy is now in hiding and hasnt paid a cent to anyone even though this blog exists. They have their main office office in belize but operate out of the USA where after being banned by the NFA they still exist to scam clients. Having misused names of firms and addresses they still continue to elude hopeless investors globally.
I think people should forge together and file legal cases in all areas where SABY lives enable bring him to book.
where is this guy Saby?? doesnt anyone know!! Maybe groups of aggrieved investors are looking for him??
Saby and Riaz looks similar. we are all confused who is who. who is cheating the investors we are not sure. By the looks of it,both of them are.
One has ran away to India. Banned from dubai. The other has ran away to God Knows where. Well planned i shoud say.
Saby is in England now
Link http://www.gozoof.com/Comments.aspx?i=263786
oh! i heard that he was last seen back in chicago most recently. Its time that all the aggrieved investors got together and filed a case jointly in all these regions so that Saby could be nabbed in all areas.
last i heard that one Irfan who works in coca cola in Dubai was looking for his $ 40 k
anyone needing help, I can put you in the right direction!!
SFO probes Ponzi-style WSD financial group
Thursday 21st October 2010
The Serious Fraud Office is looking into the affairs of the WSD group financial services of companies amid claims it failed to correctly account to investors for funds received.
The firm, which was chaired by former Progressive Party MP and Cabinet Minister Matt Robson until November last year, has grabbed the attention of the SFO in the past.
The investigator assisted Cook Islands officials after WSBC was placed under statutory management in 2008 and had its banking licence revoked last year.
Former Internal Affairs Minister Richard Worth was also on the firm’s board.
The SFO exercised search warrants at the firm’s office and at a private residence.
“Most of the investors in WSD are overseas residents, so it is important that the SFO does all it can to protect New Zealand’s reputation amongst both domestic and international investors as a well-regulated and safe place to invest,” SFO director Adam Feeley said in a statement.
WSD describes itself as an international company specialising in foreign exchange, precious metals, futures, options and CFD trading, and shot to the spotlight when director Riaz Patel was investigated by Cook Islands and Indian authorities.
WSD Global Markets is accredited as an NZX futures and options firm.
The company is believed to be operating in New Zealand, Australia, Kenya, India, Thailand, United Arab Emirates and the US, and the Thai Securities and Exchange Commission terminated WSD Financial’s futures trading licence in June.
In a background piece on WSD, the SFO statement says a former representative of one of the firms being investigated alleged the group was “nothing more than a ‘Ponzi’ scheme”.
Businesswire.co.nz
both of these articles are from new zealands largest newspapers
Hi,
I too have been a victim of Saby, Vivek, and the AVS Carter / LondonPearson groups. However I have been in contact with them over these last few months and have uncovered a great deal of information about their activities and am preparing legal action against them.
I would like to get teh contact information from any and all other victims so we can pool our claims into a single large claim. I also believe their actions can be documented to include personal fraud and liablility.
Please contact me at:
nadobait@yahoo.com
Thanks.
Office of the International Financial Services Commission,
Sir Edney Cain Building,
Belmopan,
Belize, C.A.
5 January 2011
WARNING NOTICE
AVS CARTER ASSET MANAGEMENT LIMITED
LONDON PEARSON FINANCIAL LTD.
It is notified for general information that AVS CARTER ASSET MANAGEMENT LIMITED which later changed its name to LONDON PEARSON FINANCIAL LTD., is no longer licensed by the International Financial Services Commission of Belize for Trading in Securities or to provide any other international financial services.
All persons concerned are asked to take note and exercise caution.
GIAN C. GANDHI
DIRECTOR GENERAL
International Financial Services Commission of Belize
http://www.ifsc.gov.bz/notices.html
about time people are paying the price for misleading clients. brokers think they can just open house anywhere and proceed, if you see last year even uk based alpari got a fine and recently city index