Offshore firms promised 318% return--in 190 day period
Mar.05.2011
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.