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| Market Traders Institute MTI Caribbean, www.mticaribbean.com, www.markettraders.com, Scam and Fraudulent Sham Activity and Will Pay Back What They Ha |
| 30th of Oct, 2011 by User666870 |
The Caribbean version of MTI or Market Traders Institute known as MTI Caribbean and based especially in the Caribbean island of Trinidad and Tobago is a sham and a shame and a disgrace and operates with scam elements. The introduction to the system takes place at times in the Royal Hotel (Trinidad) in the city of San Fernando. The price has usually been offered at around $4000 USD which is much more than the actual price offered for their Ultimate Trader's Package especially in the USA. This amounts to over 24, 000 plus in Trinidadian dollars One signs a contract after much pressuring and pestering from someone that you as an individual get contacted by after you have signed your name as an attendee to their meeting at the Royal Hotel and then can expect to be harassed by phone calls and even emails that are disguised to provoke one to pay the full amount for the training that is offered. This has actually happened to me and I speak from personal experience. The training is online and I experienced technical difficulties with their DVDs that was part of their "Ultimate Traders" package and with the online training in terms of audio. I want someone to contact me from MTI about this especially from their headquarters and not from their Caribbean branch because they will pay me back what was taken from me for the training that I had never fully gotten from MTI and that was really poor in quality. This report is only the beginning and I will be posting this all over the internet on every antiscam site and consumer complaints site I can find to expose and condemn them for their
scam-related activity, deceitfulness, deception, and wicked practices unless of course they reply and offer assistance especially in terms of payback concessions. Let us see how much "quality" they really have in them as they may claim in terms of being able to remedy this situation especially with a financial remedy. I look forward to their soon reply! I think Jarod Martinez (also called the FX Chief) who founded Market Traders Institute would be ashamed if he has any integrity unless of course he himself is part and parcel of the whole scam and sham operation as well.
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Market Traders To Be Highly Praised: Note of Commendation (Issue Now Closed)
Through this wonderful website I was able to come to an amicable dealing with Market Traders through their customer service manager Mark Harper. They are people of integrity and honor and very respectable. I wish to commend them and declare that this complaint is now null and void since the issue is now considered resolved and the case is now officially closed
THE ISSUE IS NOW CLOSED AND COMPLETELY AND TOTALLY RESOLVED
Thank you MTI Caribbean and Market Traders and all who helped to make this happen. You all really are wonderful people. Thanks again |
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Nothing is wonderful or respectable. !!! Be Aware !!!
Next Step Financial Holdings - also as - Market Traders Instiute are doing fraud.
They are making false promises - take your money - give nothig back - and you are the victim.
You will not earn money with FX with their systems or help.
There are more than one report of victims in the net. The Guy in Top is really right. These companies
do only swindle, systematic fraud. Be sure ure money is gone if you trust them only one minute !
Look at this:
http://investforlife.wordpress.com/2008/07/02/martinez-in-trouble-with-nfa/
or this:
http://www.scamexposure.com/scam-report/market-trader-institute-market-trader-institute-next-step-financial-holdings-c20987.html
And last but not least:
IN THE CIRCUIT COURT OF THE 17
th
JUDICIAL CIRCUIT IN AND FOR
BROWARD COUNTY, FLORIDA
CIVIL DIVISON
CASE NO.:
SEAN BELCHER,
CAROL SPENCE,
VAN DEL LYTTLE,
YELENA VAYSMAN,
BRIAN DUNN,
IAN SUTHERLAND,
MICHELLE KNOTT,
HENRY LOWE,
Plaintiffs
vs.
JARED MARTINEZ, a FLORIDA
RESIDENT
ISAAC MARTINEZ, a Florida resident,
JACOB MARTINEZ, a Florida resident
DAVID SMITH, a Foreign resident,
BRIAN TROWBRIDGE, a Foreign resident
OVERSEAS LOCKET INTERNATIONAL
CORPORATION, a Foreign Corporation
MARKET TRADERS INSTITUTE INC., a
Florida Corporation
I-TRADE FX, LLC,
HALLMARK BANK AND TRUST LTD.,
a Foreign corporation
MASTERCARD WORLDWIDE, a New York
Corporation
Defendants
/
COMPLAINT
Plaintiffs, SEAN BELCHER, CAROL SPENCE, VAN DEL LYTTLE, YELENA
VAYSMAN, BRIAN DUNN, IAN SUTHERLAND, MICHELLE KNOTT, HENRY LOWE,
file their Complaint against Defendants, JARED MARTINEZ, ISAAC MARTINEZ, JACOB
MARTINEZ, DAVID SMITH, BRIAN TROWBRIDGE, OVERSEAS LOCKET
INTERNATIONAL CORPORATION, MARKET TRADERS INSTITUTE INC., I-TRADE
FX, LLC, HALLMARK BANK AND TRUST LTD., MASTERCARD WORLDWIDE,
(collectively referred to as “Defendants”) and allege as follows:
PARTIES, JURISDICTION AND VENUE
1. Plaintiff, SEAN BELCHER is a resident of Broward County, Florida.
2. Plaintiff, CAROL SPENCE is a citizen of Jamaica.
3. Plaintiff, VAL DEL LYTTLE is a resident of Broward County, Florida.
4. Plaintiff, YELENA VAYSMAN is a citizen of the United States of America.
5. Plaintiff, BRIAN DUNN is a resident of Broward County, Florida.
6. Plaintiff, IAN SUTHERLAND is a resident of Broward County, Florida.
7. Plaintiff, MICHELLE KNOTT is a resident of Broward County, Florida.
8. Plaintiff, DR. HENRY LOWE is a resident of Broward County, Florida.
9. Defendant, JARED MARTINEZ, is a United States citizen and upon information and
belief, operates various business entities out of the state of Florida and owns property
in Orange, Seminole and Flagler County, Florida.
10. Defendant ISAAC MARTINEZ is a United States citizen and upon information and
belief, operates various foreign exchange business entities out of the state of Florida
and owns property in Seminole County, Florida.
11. Defendant JACOB MARTINEZ is a United States citizen and upon information and
belief, operated various foreign exchange business entities out of the state of Florida.
12. Defendant, DAVID SMITH, a Jamaican National is the principal of OLINT and,
based upon information and belief, has significant business contacts with the state of
Florida including making and directing several wire transfers to and from the Turks
and Caicos Islands ( TCI) and the state of Florida.
13. Defendant, BRIAN TROWBRIDGE, a foreign citizen, is the CEO and Chairman of
HALLMARK BANK AND TRUST LTD. and based upon information and belief, has
significant business contacts with the state of Florida as explained in greater detail
below. Further, BRIAN TROWBRIDGE had a significant and supervisory role over
HALLMARK BANK AND TRUST LTD. including supervising receipt of monies
from individuals and disbursing monies to individuals and corporations.
14. Defendant, OLINT, is a foreign corporation organized under the laws of Jamaica, and
operating out of the Turks & Caicos Islands. This phony corporation advertised and
signed contracts to state that they engaged in foreign currency trading. Subsequent
findings substantiated by the Supreme Court of the TCI ruling, confirm that OLINT is
a Ponzi scheme. (Please see Exhibit 1)
15. Defendant MARKET TRADERS INSTITUTE INC., is a Florida corporation, which
received wires from OLINT in U.S. dollars using the Federal wire transfer facility.
This phony corporation promotes themselves as being a Forex education institution.
16. Defendant I TRADE FX LLC is a Florida corporation which received wire transfers
from DAVID SMITH and OLINT. This corporation engages in foreign exchange
trading.
17. Defendant, HALLMARK BANK AND TRUST LTD., is a foreign corporation,
operating out of the Turks & Caicos Islands. This banking institution used the Federal
wire transfer facility to transfer funds from OLINT to individuals and corporations
without the consent of the Plaintiffs.
18. Defendant, MASTERCARD WORLDWIDE, is a New York corporation, which
maintains a wholly owned Florida Limited Liability Corporation and a Florida
registered agent based in Broward County, Florida. This corporation has significant
business contacts with the state of Florida. This Corporation using its Compass Debit
Card payment system was a party to the fraud committed on investors.
19. This is an action seeking damages in excess of $15, 000.
20. This court has jurisdiction over Defendants, I TRADE FX LLC., MARKET
TRADERS INSTITUTE INC., JARED MARTINEZ, ISAAC MARTINEZ, JACOB
MARTINEZ because they own business entities based in Orange County, Florida, as
well as real property in Orange County, Florida. In addition, upon information and
belief, they have committed a tort, in whole or in part, or have otherwise transacted
business in the State of Florida.
21. This court has jurisdiction over Defendants, DAVID SMITH and BRIAN
TROWBRIDGE because, upon information and belief, the said Defendants were
operating a business of foreign currency trading from Orlando, Florida, and said
Defendants have committed a tort, in whole or in part, or has otherwise transacted
business in the State of Florida as described in greater detail below.
22. This court has jurisdiction over Defendants OLINT, HALLMARK BANK AND
TRUST LTD., MASTERCARD WORLDWIDE as upon information and belief, the
said Defendants were transacting a significant volume of business with residents of
Florida, sending mail to and receiving mailed applications from Florida. Debit card
products were sent to residents of Florida. Further MASTERCARD WORLDWIDE
maintained a location for service of process within Florida. The said Defendants have
committed a tort, in whole or in part, or have otherwise transacted business in the State
of Florida as described in greater detail below.
23. This court has jurisdiction over this action pursuant to Section 22 of the Securities and
Exchange Act of 1933 (the Securities Act), Section 27 of the Securities Exchange Act of 1934
(Exchange Act) and Section 214 of the Investment Advisers Act of 1940 (Advisers Act).
24. The Defendants directly or indirectly made use of mail advertisement and instrumentalities of
interstate commerce in connection with acts, practices and a course of business as described
in the complaint.
25. Venue is proper in this district as one or more of the individual defendant entities
owns business entities whose principal place of business is Orange County and owns
real property in Orange County, Florida.
26. All conditions precedent to the filing of this action have occurred, been performed,
been waived or are otherwise excused.
GENERAL ALLEGATIONS
27. This matter involves a Ponzi scheme promoted to the Jamaican- American community
living in the United States and the Jamaican Diaspora living in the Eastern Caribbean.
28. Defendant DAVID SMITH, a self proclaimed religious genius, operated a Ponzi
scheme known as the OVERSEAS LOCKET CORPORATION (OLINT). He
convinced over one thousand investors that he and agents of OLINT could produce a
return of ten percent (10%) per month by participating in foreign currency exchange
trading. His sales office was located at 1C Braemar Avenue Kingston 5,
Jamaica. David Smith’s financial operation was investigated by the Financial Services
Commission of Jamaica and after being forced to cease and desist his operations in
Jamaica by that governing body he moved his operation to the Turks and Caicos
Islands (TCI).
29. Defendants Smith and OLINT targeted American investors directly or indirectly to
invest in the OLINT hedge fund. Based on their aggressive advertising of the high rate
of returns, OLINT raked in over US 1 Billion dollars from investors who were based
in the USA, TCI, Jamaica, St. Kitts, Panama, Grenada and Dominica Republic. Smith
achieved this by fraudulent advertising on the Internet.
The Ponzi scheme was supported by many feeder clubs such as LewFam and
Regency.
30. David Smith, as a result of the large number of investor complaints was arrested and
charged with money laundering, fraud and theft by the Royal TCI Police Financial
Crimes Unit.
31. Defendants Jared Martinez, Isaac Martinez and Jacob Martinez are international con
artists who have created an empire based on money laundering and foreign exchange
(Forex) trading.
32. They claim to have the educational skills and background to educate individuals in
foreign currency trading. Their corporation MARKET TRADERS INSTITUTE INC.
(MTI), is used to provide educational materials and resources to clients.
33. The unsuspecting clients sign on with MTI and then are advised that they require the
services of a brokerage company, I-TRADE FX LLC, another corporation owned by
the Martinez family.
34. Defendants JARED MARTINEZ, ISAAC MARTINEZ AND JACOB MARTINEZ
are really co-conspirators with David Smith. Their modus operandi is to go to specific
third world countries to spread their propaganda and to bilk the investors of their
money.
35. The goal of these con artists is to evade US law enforcement and regulatory
guidelines. Currently, the JARED MARTINEZ and ISAAC MARTINEZ are
infiltrating into countries such as Panama, using the new corporation name of
EFOREX INC. (Please see Exhibit 2)
36. Defendants JARED MARTINEZ, ISAAC MARTINEZ and JACOB MARTINEZ had
contracts in place to receive wire transfers from OLINT through a Florida based
corporation known as JIJ Investments. In addition, MTI received a financial kickback
from David Smith and OLINT for “teaching” FOREX courses.
37. The National Futures Association (NFA) a self-regulatory organization for the U.S.
futures industry whose function is to enact rules, programs and services that safeguard
market integrity and to protect investors, learned that David Smith transferred the
amount of US$100 million dollars from OLINT using Hallmark Bank and Trust Ltd.
to a Florida based corporation known as JIJ INVESTMENTS INC., a corporation
under the control of ISAAC MARTINEZ.
This transfer of OLINT investors funds, including those of the Plaintiffs was done
without permission, as is clearly required per the legal contract between OLINT and
its investors. (Please see Exhibit 3).
In response to the above, the Federal Bureau of Investigation and the Internal Revenue
Service have commenced an investigation into the OLINT Ponzi scheme and it co-
conspirators. Federal investigators are examining the records of the Martinez’ and
have interviewed Chester Stewart of Regency.
38. Upon information and belief, OLINT and SMITH sent multiple wire transfers to the
United States, to Defendant ISSAC MARTINEZ and JIJ INVESTMENTS in order to
evade the Jamaican and Turks & Caicos authorities who were investigating OLINT
and SMITH'S business practices. (Please see Exhibit 10).
39. Upon information and belief, JARED MARTINEZ operated his own FOREX trading
business out of Orange County, Florida by such names as MARKET TRADERS
INSTITUTE and PROFESSIONAL FOREX ASSOCIATION, INC.
[1]
Also upon
information and belief, multiple wire transfers totaling roughly $100 million from
OLINT and/or SMITH to MARTINEZ. (See NFA Complaint, Exhibit #4, Paragraph
18).
40. Upon information and belief, MARTINEZ used the funds transferred to him from
OLINT and/or SMITH to invest through JIJ INVESTMENTS in several parcels of real
[1] See
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=P07000081283&inq_came_fro
m=OFFFWD&cor_web_names_seq_number=0003&names_name_ind=P&ret_names_cor_number=&ret_cor
_web_names_seq_number=&ret_names_name_ind=&ret_names_comp_name=&ret_names_filing_type=&re
t_cor_web_princ_seq=&ret_princ_comp_name=MARTINEZISAAC&ret_princ_type=
property and business entities in and around Orange County, Florida. Defendants
JARED MARTINEZ and ISAAC MARTINEZ used the funds to purchase exotic
motor vehicles, name brand Breitling watches, expensive ornamental furniture and
lavish 6-star cruise to Italy for his entire family in 2007.
41. Plaintiffs never authorized the transfer of their funds from their OLINT accounts to
any other person or business entity. The money wire transfer to JARED MARTINEZ
and ISSAC MARTINEZ was done without knowledge or permission from Plaintiff.
42. All the Defendants have refused several repeated requests to return the Plaintiffs
money. Instead Defendants live a lavish lifestyle. Defendant DAVID SMITH has
refused to return any money to the Plaintiffs. (See Exhibit 1, Agreement for Sale
involving Defendant DAVID SMITH).
Defendant JARED MARTINEZ has refused to return the money to the Plaintiffs. (See
Exhibit 4).
Defendant ISSAC MARTINEZ has refused to return the money to the Plaintiffs. (See
Exhibit 5).
Defendant BRIAN TROWBRIDGE has refused to return the money to the Plaintiffs.
(See Exhibit 6).
Defendant I-TRADE FX, LLC has refused to return the money to the Plaintiffs. (See
Exhibit 7)
43. Upon information and belief, OLINT's Principals DAVID SMITH and TRACEY
ANN SMITH, have fled Jamaica, avoided the Jamaican authorities and have
absconded with the Plaintiffs funds and deposited and/or invested them into several
entities, including those owned or controlled by Defendants JARED, JACOB AND
ISSAC MARTINEZ, with the intent to hinder, delay, or defraud the Plaintiffs in their
efforts to recover their funds.
44. By this action, Plaintiffs BELCHER, SPENCE, VAN DEL LYTTLE, VAYSMAN,
DUNN, SUTHERLAND, KNOTT and LOWE, are seeking to recover the principal
and profit of their accounts with OLINT. According to the terms of the Agreement,
OLINT was to use Plaintiff's funds for foreign currency exchange trading. However,
due to Defendant JARED MARTINEZ and DAVID SMITH’s fraudulent misconduct,
the Plaintiffs have lost access to their funds and/or have completely lost their funds,
and as a result the apparent conspiratorial misconduct of JARED MARTINEZ, ISSAC
MARTINEZ and DAVID SMITH have suffered substantial damages.
45. The Plaintiffs are also seeking damages for OLINT breach of the Agreement by failing
to honor requests made by the Plaintiffs for the withdrawal of their funds, depriving
Plaintiffs of their property for an indefinite period of time, which resulted in OLINT
and its principals (including Defendant DAVID SMITH, JARED MARTINEZ,
ISAAC MARTINEZ, JACOB MARTINEZ AND BRAIN TROWBRIDGE) being
unjustly enriched.
46. The Plaintiffs have had to hire the undersigned attorney, as well as counsel in Jamaica
and England in an attempt to recover their funds and have had to pay attorney's fees
for same.
47. The Plaintiffs have suffered losses of approximately $20 million United States dollars
due to the misconduct of the Defendants.
FIRST CLAIM
VIOLATION OF SECTION 5(a) and 5(c) OF THE SECURITES ACT
48. Defendants
JARED MARTINEZ
ISAAC MARTINEZ
JACOB MARTINEZ
DAVID SMITH
BRIAN TROWBRIDGE
OLINT
MARKET TRADERS INSTITUTE INC
I TRADE FX LLC
HALLMARK BANK AND TRUST LTD.
MASTERCARD WORLDWIDE
a) Making use of the means and instruments of transportation and communication in
interstate commerce and of the mails to sell securities, through the use of written
contracts, offering documents and otherwise;(b) carrying and causing to be carried
through the mails and in interstate commerce by the means and instruments of
transportation, such securities for the purpose of sale and for delivery after sale; and
(c) making use of the means or instruments of transportation and communication in
interstate commerce and of the mails to offer to sell such securities.
49. As described in paragraphs - Defendants DAVID SMITH and OLINT’s securities
were offered and sold to the public through a general solicitation of investors. No
registration statements were ever filed with the Commission or otherwise in effect
with respect to these transactions.
50. By reason of the foregoing, Defendants violated and, unless enjoined, will continue to
violate Sections 5(a) and 5(c) of the Securities Act (15 U.S.C. 77 e(a) and e(c) ).
SECOND CLAIM
Violations of Section 17(a) of the Securities Act
51. Defendants, directly or indirectly, singly, in concert with HALLMARK BANK AND
TRUST and BRIAN TROWBRIDGE, in the offer and sale of securities, by use of the
means and instruments of transportation and communication in interstate commerce
and by use of the mails, have: (a) employed devices, schemes or artifices to defraud;
(b) obtained money or property by means of untrue statements of material fact or
omissions to state material facts necessary in order to make the statements made, in
light of the circumstances under which they were made, not misleading; and (c)
engaged in transactions, practices or courses of business which operate or would
operate as a fraud or deceit.
52. As part of and in furtherance of this scheme, Defendants, directly and indirectly,
prepared, disseminated or used contract, written offering documents, promotional
materials, investor and other correspondence, and oral presentations, which contained
untrue statements of material fact and which omitted to state material facts necessary
in order to make the statements made, in light of the circumstances under which they
were made, not misleading, including, but not limited to, those statements and
omissions set forth in previous paragraphs.
53. Defendants made the above-referenced misrepresentations and omissions knowingly
or with sever recklessness with regard for the truth. Defendants were also negligent in
their actions regarding the representations and omissions alleged herein.
54. By reason of the foregoing, Defendants violated, and unless enjoined, will continue to
violate Section 17(a) of the Securities Act (15 U.S.C. 7q(a) )
THIRD CLAIM
Violation of Section 10(b) of the Exchange Act and Rule 10b-5
thereunder
55. Defendants, directly or indirectly, singly or in concert with others, in connection with
the purchase and sale of securities, by use of the means and instrumentalities of
interstate commerce and by use of the mails have: (a) employed devices, schemes and
artifices to defraud; made untrue statements of material facts and omitted to state
material facts necessary in order to make the statements made, in light of the
circumstances under which they were made, not misleading ; and (c) engaged in acts,
practices and courses of business which operate as a fraud and deceit upon purchasers,
prospective purchasers and other persons.
56. As a part of and in furtherance of their scheme, Defendants, directly and indirectly,
prepared, disseminated or used contracts, written offering documents, promotional
materials, investor and other correspondence, and oral presentations, which contained
untrue statements of material facts and misrepresentations of material facts, and which
omitted to state material facts necessary in order to make the statements made, in light
of the circumstances under which they were made, not misleading, including, but not
limited to, those set forth in Paragraphs – above.
57. Defendants made the above-referenced misrepresentations and omissions knowingly
or with severe recklessness regarding the truth.
58. By reason of the foregoing, Defendants violated and, unless enjoined, will continue to
violate the provisions of Section 10(b) of the Exchange Act (15 U.S.C. 78j(b) ) and
Rule 10b-5 thereunder (17 C.F.R. 240.19b-5).
FOURTH CLAIM
Violation of Sections 206 (1) and 206(2) of the Investment Advisers Act
59. Defendants DAVID SMITH, JARED MARTINEZ, ISAAC MARTINEZ and JACOB
MARTINEZ, as investment advisers, used the mails and means or instrumentalities of
interstate commerce, directly and indirectly: 1) to employ devices, schemes or artifices
to defraud clients or prospective clients; or 2) to engage in transactions, practices and
courses of business which operated as a fraud or deceit upon clients and prospective
clients.
60. By reason of the foregoing, Defendants DAVID SMITH, JARED MARTINEZ,
ISAAC MARTINEZ and JACOB MARTINEZ, violated and, unless enjoined, will
continue to violate the provisions of Sections 206(1) and 206(2) of the Investment
Advisers Act (15 U.S.C. 80b-6 (1), (2) .
FIFTH CLAIM
Violation of Sections 206 (4) of the Investment Advisers Act and Rule 206(4)- 8
thereunder
61. Defendants DAVID SMITH, JARED MARTINEZ, ISAAC MARTINEZ, JACOB
MARTINEZ, BRIAN TROWBRIDGE as investment advisers, 1) engaged in acts,
practices, or courses of business which were fraudulent, deceptive or manipulative;
and 2) as advisers to a pooled investment vehicle:
a) made untrue statements of a material fact or omitted to state a material facts
necessary to make statements made, in light of the circumstances under which they
were made, not misleading to investors or prospective investors in the pooled
investment vehicle; and/or b) otherwise engaged in acts, practices and courses of
business that were fraudulent, deceptive, or manipulative with respect to investors or
prospective investors of the pooled investment vehicle.
62. By reasons of the foregoing, Defendants DAVID SMITH, JARED MARTINEZ,
ISAAC MARTINEZ, JACOB MARTINEZ and BRIAN TROWBRIDGE violated
and, unless enjoined, will continue to violate the provisions of Section 206(4) of the
Investment Advisers Act ( 15 U.S.C. 80b-6(4) ) and Rule 206(4)-8 thereunder (17
C.F.R. 275.206(4)-8)
SIXTH CLAIM
Claims Against Relief Defendants as Custodian of Investor Funds
63. Relief Defendants DAVID SMITH, JARED MARTINEZ, ISAAC MARTINEZ,
JACOB MARTINEZ, BRIAN TROWBRIDGE, I TRADE FX LLC, MARKET
TRADERS INSTITUTE INC., HALLMARK BANK AND TRUST LTD. And
MASTERCARD WORLDWIDE, received funds and property from one or more of
the Defendants, which are the proceeds, or are traceable to the proceeds, of the
unlawful activities of Defendants, as alleged in paragraphs 1 through 53 above.
64. Relief Defendants obtained the funds and property alleged above as part of and in
furtherance of the securities violations alleged in paragraphs 1 through 53 and under
circumstances in which it is not just, equitable or conscionable for them to retain the
funds and property. As a consequence, Relief Defendants were unjustly enriched.
DAMAGES
65. Plaintiffs claim for damages on the basis of Defendants DAVID SMITH, JARED
MARTINEZ, ISAAC MARTINEZ, JACOB MARTINEZ, BRIAN TROWBRIDGE,
OLINT, I TRADE FX LLC, MARKET TRADERS INSTITUTE INC., HALLMARK
BANK AND TRUST LTD. And MASTERCARD WORLDWIDE violation of
Section 5(a) and 5(c) of the Securities Act of 1933.
66. Defendants OLINT and DAVID SMITH with the help of JARED MARTINEZ,
ISAAC MARTINEZ, JACOB MARTINEZ, BRIAN TROWBRIDGE, HALLMARK
BANK AND TRUST LTD., and MASTERCARD WORLDWIDE directly or
indirectly have been offering to sell, selling and delivering after sale certain securities.
These actions have resulted in financial damages being incurred by the PLAINTIFFS.
RELIEF REQUESTED
67. An order of the Court permanently enjoining the Defendants, DAVID SMITH,
JARED MARTINEZ, ISAAC MARTINEZ, JACOB MARTINEZ, BRIAN
TROWBRIDGE, OLINT, I TRADE FX LLC, MARKET TRADERS
INSTITUTE INC., HALLMARK BANK AND TRUST LTD., and MASTERCARD
WORLDWIDE as appropriate, their agents, servants, employees, attorneys and all
persona in active concert or participation with them who receive actual notice of the
injunction by personal service or otherwise, and each of them, from future violations
of Section 5(a), 5(c) and 17(a) of the Securities Act, (15 U.S.C. 7e (a), 77e(c) and
77q(a), Section 10(b) the Exchange Act, (15 U.S.C. 78j(b)), and of Rule 10b-5 (17
C.F.R. 240.10b-5) thereunder and Sections 206(1), (2) and (4) of the Advisers Act and
Rule 206(4)-8 thereunder.
68. An order of the Court appointing a receiver to take control of all assets of the
Defendants, DAVID SMITH, JARED MARTINEZ, ISAAC MARTINEZ, JACOB
MARTINEZ, BRIAN TROWBRIDGE, OLINT, I TRADE FX LLC, MARKET
TRADERS INSTITUTE INC., and the Relief Defendants, to marshal and preserve
assets for the benefits of investors.
69. An order of the Court directing Defendants to disgorge an amount equal to the funds
and benefits obtained illegally as a result of the violations alleged, plus prejudgment
interest on that amount.
70. An order of the Court directing Defendants, as appropriate, to pay civil monetary
penalties in an amount determined as appropriate by the Court pursuant to Section
20(d) of the Securities Act (15 U.S.C. t(d) ), Section 21(d) of the Exchange Act ( 15
U.S.C. 8u(d) ) and Section 209(e)(2) of the Investment Advisers Act (15 U.S.C. 80b-
9) for their violations of the Federal securities laws as alleged herein.
71. An order of the Court directing Relief Defendants to disgorge an amount equal to the
funds and benefits obtained, plus prejudgment interest, as a result of the Defendants’
violations alleged herein.
72. All further relief as the Court may deem just and proper.
DEMAND FOR JURY TRIAL
Plaintiff demands trial by jury of all claims triable.
Respectfully submitted,
_________________________
David P. Rowe
Florida Bar No.: 373575
Law offices of David P. Rowe
110 E. Broward Blvd.
Suite 1700
Fort Lauderdale, FL 33301
(305)731-0019 |
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