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Thread: InovaTrade Forex

  1. #1
    FSHS is offline Junior Member
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    InovaTrade Forex

    Does anyone have anymore information regarding the Inovatrade situation? I heard nothing about the 2 principals being arrested. The website is still online but emails are not returned and the phones are not active. Did they get away with the money or do the panama authorities have control of it? Any more information appreciated.
    Thanks!

  2. #2
    Soapboxmom's Avatar
    Soapboxmom is offline Administrator
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    Re: Charles Grégoire de Rothschild / Real Name - Aaron Joab Berdah / GDR Privée Inc.

    Welcome to RS!

    The CFTC filed suit:
    https://docs.google.com/viewer?a=v&q...7kKVqxsHsDC7BQ

    Francesc’s Weblog » CFTC Suits 14 Forex Brokers Update - InovaTrade Attempting To Escape Service Of The Lawsuit

    In one case worth noting, against InovaTrade, Inc., the agent sent by the CFTC to serve the summons and complaint upon the defendant was unable to do so. The agent submitted an affidavit to the court stating that “On January 27, 2011, [she] offered to hand Michael Alcocer, CEO of InovaTrade, Inc., a UPS box from the U.S. Commodity Futures Trading Commission addressed to InovaTrade, Inc. Mr. Alcocer refused to receive the UPS box…Mr. Alcocer terminated InovaTrade, Inc.’s virtual office space contract for the space at 1395 Brickell Ave., Suite 800, Miami, Florida on January 27, 201, after refusing the UPS package.”
    It seems as though InovaTrade is attempting to escape service of the lawsuit. It will be interesting to see how this case unfolds.
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    Name InovaTrade Inc. / InovaTrade Panama Inc.
    Date added September 2, 2011
    Address Torres Las Americas, Punta Pacifica, 9th Floor
    Panama City, Panama

    Telephone: 507 302-0000
    Fax: 1-888-379-7304

    www.inovatrade.com
    Background The National Securities Commission of the Republic of Panama (the CNV) issued a Warning on August 19, 2011, saying that that InovaTrade Inc. and InovaTrade Panama Inc. are not licenced by the CNV to carry out business as financial intermediaries of securities or investments.
    On January 26, 2011, the U.S. Commodity Futures Trading Commission (the CFTC) filed a complaint permanent injunction, civil monetary penalty and other relief against InovaTrade Inc.
    The British Columbia Securities Commission also has information that InovaTrade, Inc. has residents of British Columbia as clients.

    InovaTrade Inc. and InovaTrade Panama Inc. are not registered in British Columbia to trade in, or advise on, securities and exchange contracts.
    We urge British Columbia residents to exercise extreme caution when dealing with firms that are not registered to trade or advise in British Columbia.

    If the CFTC sued then I would assume they are crawling under their rock.

    Soapboxmom

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