Offshore firms promised 318% return--in 190 day period
03.05.11
Mass. Sec. of State Securities
Division filed a complaint against offshore firms Eagle Trades Ltd.
and controlling member Terrance Osberger, as well as Osiris FX and
FX Capital Services (and Osiris' Evan Andersen, Glenn Manterfield
and Alberto Sciola). All are accused of violating state securities
laws and, in some instance, defrauding investors. Eagle Trades
claimed return rates between 299% and 318% --in just 190 days. The
firm’s promotional literature included remarks like “ .
. . we have reengineered the mold regarding HYIPS...think of it as
a full-throttle upgrade to the typical HYIP routine you may or may
not be familiar with....”
Due diligence by investors would have easily raised red flags: Andersen had been barred for life from the securities industry in Massachusetts after he and Manterfield were charged both by Massachusetts and the Securities and Exchange Commission with defrauding investors in 2007.
Due diligence by investors would have easily raised red flags: Andersen had been barred for life from the securities industry in Massachusetts after he and Manterfield were charged both by Massachusetts and the Securities and Exchange Commission with defrauding investors in 2007.