EliteVentures - scam

[World]

EliteVentures net - lots to follow over the next few days/weeks

Admins
William Martinoli
(usernames on forums - Anthony Disondrio, WJMKC and sparticus)
Francis Springall
(usernames on forums - Francozz, blackcat, stomper and ceaser)
Joey Olsen
(usernames on forums - Wolfie, Just-Joey)
Addresses will only be supplied to a Lawyer

Where they obtained their victims
MoneyMakerGroup
Talkgold
and other HYIP forums.
Anthony Disondrio (under the guise of WJMKC) also suggested to members of SolidInvestments they they group together to find those scammers. He then used this to obtain information on the biggest spenders and obtain more money out of them to 'employ Lawyers to track them down'.

Items in red are direct quotes of the admins.

[World]

The EliteVentures spiel.


PROGRAM DETAILS:
I would like to thank you all for joining EliteVentures and it is our pleasure to provide you with the greatest of care and security, and the opportunity to make some honest money.
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We have started this site earlier than originally planned due to the horrendous acts of hyips that have preyed on investors and have vanished. We are committed to maintaining a viable honest program that is backed by trading in commodities; debentures, and other stocks of varying natures. We work with real traders doing in such clearinghouses as Smith Barney, Merrill Lynch, Price Waterhouse, etc. Our interests are to provide investors a real and steady return on their money, and we are not interested in paying unrealistic interest percentages as a means to gain deposits. We are here for the long haul not the short term.
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We will be providing a limited live support very shortly, and hours of operation will be posted.
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We encourage you to join speakupforum many questions and answers you have can be answered there also.
The use of the NNM is needed to ensure that only investors in Elite get the information, and eliminates potential security issues which are inherent in other systems. This is for your safety and security
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We are designing a custom script for our website and will install it when it becomes available from the programmers. Until that time we have listed some of the terms and conditions that we will be operating under.
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Conditions:

1. All trading days are regular working days, US holidays and weekends are excluded from trading days, and there will be a maximum of 20 trading days per month that we will recognize.
2. Deposit of money to Elite will be done at Ebullion,(ecurrency US dollars), as our preferred provider. E-gold may also be used.
3. Deposits to our accounts will be held as a trust account, which will be our guarantee to you that your deposit money will be available for return to you when your plan comes to term.
4. Presently there is no compounding offered, except where specifically stated.
5. Minimum deposit will be $50.00, there is no maximum except where specifically stated.
6. Rates, which include principle and interests, will be displayed as a percentage in excess of 100%. Example: (Principle plus 25% interests will be displayed as 125%)
7. Deposits that are $10,000.00 to $25,000.00 will earn 3%.
8. Deposit that exceed $25,001.00 will earn 4%
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Pre-Launch Investments:

1. Those members who sent money in for our pre-launch will be administered by these special terms which will be different from out standard terms and conditions.
2. Pre-launch money will be calculated at 2% per trading days.
3. From time of launch it will be 45 calendar days for your investment to come to term. Interests payment and return of principle will be made at that time.
4. Compounding will be applied to investments of $1000.00 or less during this period.
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PLAN ONE:
1. This will be a 40 trading day offering, which will last a total 60 calendar days.
2. Interest will paid totaling 150-185% total return for term (60 Days) depending on size of deposit.
3. One time payment at end of term of offering.
4. No compounding offered, no principle return.

PLAN TWO:
1. This is a six month deposit commitment by investor.
2. Monthly interest shall be calculated at 40%-80% per month based on size of deposit, every month, no compounding
3. Interest payments shall be paid every month
4. Principle will be returned at end of term.
5. Total return 240-480% (depending on size of deposit) after 6 months, plus principle is returned.
------------------- Thank You for your support
Anthony Disondrio

[World]

More spiel

INTRODUCTORY PLAN:
Due to EV's early success, we are offering an introductory plan for 2 weeks!
1. 150% in 2 weeks (14 Days)
2. Minimum of $25 Maximum investment of $10,000
3. No compounding
4. THIS PLAN WILL ONLY BE OPEN FOR 2 WEEKS, POSSIBLY A MONTH!

come on members heres a sweet temporary deal. If you haven't deposited yet, and are waiting because of the length of Plan B,
Now is the time to get in and take advantage of this gift. For GIFT it is This is more than 3% in reality! This is our way of saying thanks to our exsisting members who are backing us so loyally, and encouraging those fence sitters to take the leap and deposit now.!

What on earth would you be waiting for??

[World]

EliteVentures also claimed to be a real registered company in the Seychelles.

--------------------------------------------------------------------

The EV Administration Team

Organization Name: EliteVentures.net Ltd
Email: support@eliteventures.net
Address: 306 Victoria House
City: Victoria
State/Province: Mahe
Country: Seychelles
US Phone: 1-978-925-5199

"We accept e-gold, e-bullion e-currency, e-bullion gold and Bank Wires"

Quote below taken from Hyipranks.

According to CosmoServe, Restrictions on activity of a Seychelles company:
--------------------------------------------------------------------------------

IBCs are not allowed to undertake business in banking, insurance and fund and asset management. IBCs must trade outside the Seychelles, can not own property in the area and can not sell their shares to the public.

[World]

And have 'hyip experts' vouching for them and encouraging people to invest. This post is from 'hyip expert' John at Future4me.

Introduction: This is a fairly new program (started late July) and many of you may already be in it. It was set-up in conjunction with another forum to help people recover losses from many of the scams out there and offers attractive returns. It didn't offer any referral bonus originally and has just started offering a small 1%, this is not the reason I'm showing it as I was about to offer it when there was no referral bonus.

Due Diligence status: The current DD (some shown below) I have is Level 1 (Electronic), which is all I can get for many others but I will try and get some Level 2 (Physical) DD soon, but I require a high level investment of over $100k to be able to do this. I may even introduce a pool for EV in October as we may be able to raise the required high level for full DD disclosure, so that we know it is completely real and stable, plus we can then qualify for the 80% per month return. I'll notify SYF members if I decide to do this which won't be for at least 6 to 8 weeks yet, but you can still invest directly at 40%+ and do well at the moment, see plans below.

Investment Plans: Minimum $25, no maximum. They have a new "Success Plan" (started August 22nd, limited offer for the next 2, maybe 4 weeks) to help smaller investors get started and this returns 150% (including capital) in 2 weeks, so for each $100 invested it would return $150 in 2 weeks, allowing you to keep 50% (or more) of your principle (capital) then re-invested the same in a normal longer term "Achievement Plan", hence it is then only half the risk. The normal "Achievement Plans" are 40% to 80% Return on Investment (ROI) per month, dependant on investment level and principle back in 6 months. So in 6 months you would have got (if rates remain the same) 240% (2.4x) to 480% (4.8x) on your investment, plus your principle returned. If you manually compound by re-investing some of the profits each month then this will be much higher, see example in my financial planner below.

SYF Financial Planner for Elite Ventures: See a $1000 example in the following Excel spreadsheet, also suitable for beginners as I've put guidance notes in it, it can work with Excel compatible spreadsheet software such as the free Open Office Calc program here, but ideally use Excel v9 (office 2000) or higher, if you have it (may work in the Office 97 version of Excel). The spreadsheet is very easy to use and if you make any mistakes then you can just use undo or download it again (more details in it). Click Here to see or use my Financial Planner for EV (If it shows in Excel within your browser, then use save to save it to your hard-drive to be able to use it).

[World]

More 'DD' done by John at Future4me.

Wolfie's real name is "Joey" and you can find it if you search her early posts and referral links in other forums, but I got to know it on my recent voice call with her and am about to mention this in my comments about the voice call, which I will do very soon, but I've just seen her sign her name again in a recent reply at the Speak-Up-Forum and so now I can just say it here.

Anthony (Tony) has never used a nickname or forum nickname as he is a businessman who is from the trader's side. How EV started is that Joey (Wolfie) has known the trader for a long time, so Anthony was brought in via the trader, hence he has just used his real name and not a nickname, which as he's the EV website admin you'd expect him to do.

Knowing the others firstnames wouldn't make much difference, but due to privacy then Wolfie and Xelsnaga1 don't want their full names to be shared as people do know their approximate location and so they could end up with investors at their door, so I do understand the need to protect some of their personal details. Anthony (Tony) is the admin for the workings of EV in dealing with the trader, the website and programers etc., so I think the fact that he has offered his full real name is enough.

I'll post information about my voice call with Wolfie very soon as there were some interesting details that removed any scam element for me, but remember that this is still High Yield Investing / Trading so there are always some risks and so I still recommend the investing advice I've shown at the bottom of the first post in this thread, but one thing you can be sure of is that your main deposit is protected in a trust account, so it is very low risk to loss of any capital, not that I have seen details of their trust account, but from other items I do know due to the direct contact I have had then this is not the sort of thing you would make up or even need to.

More details soon ...John

This 'DD' is absolute rubbish. Anthony Disondrio's real name is William Martinoli and there was never any trust account. Either John is in on the scam or he is out to obtain referral fees or he is totally incompetent.

[World]

There are many 'cheerleaders' that have encouraged people to invest in EliteVentures and/or have visited various forums to promote EliteVentures based on their own Due Diligence.

Xelnaga1
John at Future4me
TakeAction
LadyTrader
Outasight1
Jeannie
Newmoney
PcsbyBob

Full names and addresses can be supplied to a Lawyer.

[World]

Then comes the last ditch attempt to get tons of money before they disappear. This post was made by Wolfie (Joey Olsen) on the 14th October 2006.

hey gang I am here to inform you we are closing down the PPP very very soon. Instead of everyone holding your breath hoping- willing it to last please make your final deposits for this plan ASAP. as it waits for no wolf. lol This may come down tonight, or tomorrow night only the trader knows for sure. hahah So if you want one more spend or you have friends who want in on our PPP Now is the last chance.

I will offer you all a deal here!!! If you go out and bring in a two new members each (with deposits); I will beg on my 4 paws with tail wagging, to keep this plan open till early next week?! But we ask in return to step up the deposits hahaha
How about the members help out with this instead of just asking for the plan to be kept open. I want to see how badly you want it kept open! hahaha
if i see some deposit results and new memberships overnight I will go to work on the begging routine. I promise. I bet you all know at least One person or Two that you can encourage into the best program to ever hit the net. Its safe its great paying and you couldn't have a better clientle than what is at SUF. Come on members this is good for all of us and I want to redeposit in the PPP so lets get out there and do something for EV. After all folks this is a two way street it is about helping each other and of course it is time to expand the idea to include the business too!

wolfie

A few weeks later, payments stopped.

[World]

We then get a lot of talk about script problems, a few cheerleaders get paid then we get this.


on: December 21, 2006, 05:00:19 AM

Greetings, to all members of EV.

On the eve of the holiday season I would like to first take the time to express my sincere thanks for your support and dedication to EV and wish you all a festive and safe holiday season.

The programming company has made great headway in correcting the script problems, adding modules to the admin panel, and generally making a fully functioning program. The reconfigured software should be available very soon, so our site will re-open and be operational, except, as I said in a prior post, we will not accept new deposits until we have made some payouts and can rely on the operation of this program.

Since our inception the entire program has been based on the premise that we are here to help the little guy and to perform a service that will be honest and long lasting.

There have been many changes to this program including the internal operations. The politics in the organization had a definite pecking order, and the head has always been the master trader, for obvious reasons, without his services there could be no returns.
Although many have professed to be solely for the betterment of the plight endured by many less fortunate people, the staunchest ally to those individuals has been Wolfie. She has fought anything and anyone that could be considered against the core concept of EV. She has taken her lumps on behalf of the membership, and paid for it dearly, both emotionally and economically. I must say openly, at times she has made me mad because of her uncompromising attitude, but I took solace in the fact that she was and is consistent in her dedication to the speakupforum, its members and EV.

I and the other partners were openly adamant regarding the concept of EV, as we had been snookered by other programs that had touted their honesty and ability to repay, but none of us were as committed as Wolfie. Her commitment made her a liability to the Master Trader, and he used the payments to EV in a coercive manner to control our actions. Basically, if we were not in tune with his ideas on things than we were out and the membership would not be paid, if we said anything to anyone, the program would not be paid, if we disagreed with him the investors would not get paid and he numerous times threatened to walk out of the program based on his reliance in the TOS absolving him of any liability. Every time I confronted him regarding trading results I was chastised vehemently by him, and in his words, I was an ingrate. After all it was his money and his trading that kept EV going, or so he claimed. He tried making EV responsible for other sites that he set up, and relied on the reputation of Xelnagra1. After the sites were up, it was convenient that he now needed an admin, and of course he would ask “X” to maintain the sites until he found one. The operation of those sites were supposedly structured just like EV arrangement, the Master Trader would take the money by sweeping the accounts, and then the admin would ask for sufficient funds for payouts, and pray that you had done nothing wrong to anger him, as that would put you at the back of the list to receive any money. His plan was, and always has been for him to operate behind the scenes as the controller, telling everyone what to do, and staying free and clear of liability, and recognition.
The master Trader would determine the structure of the plans, and when queried as to the percentage being paid, he would allude to the fact that it was more than sustainable.
Until the support tickets started coming around the latter part of October, when payments were delayed, I had not realized the humanity of it all then after the November 3rd, 2006 incident with the script the clarity of the situation was apparent. At this time I was able to see the impact we were having on the everyday lives of individuals, and how supportive they were, even when they were in imminent danger of loss of personal services, homes, insurance, etc. You are people who through your everyday lives survive to make it another day, and do so year after year, yet EV offered them a bit of hope, a little reprieve from the deficit financing they were currently operating by in order to maintain the simplest of life’s necessities. It was at this time I made the conscience decision to make EV work, and to do what it took to make sure the members who were the most in need were serviced first.
My plans were thwarted by the only person who had more authority than I, the Master Trader. He started withholding funds that I requested for payouts, and started making demands to put some of us in a position of liability, rather than he.
Between the script problems and the site crashing in November, and the continual threats from the master Trader to extricate himself, shut the forum off, and not pay any investors any money, it became clear to me that I had to step up and take the Master Trader on in order to retain the information housed in the websites, and to assure there would be some avenue for investors to get some or all of the money they were promised. My resulting actions were to lock everyone but myself out of the servers, and to place my personal credit to godaddy to assure the payments of the monthly and yearly fees. This has allowed us to continue to stay connected and allowed me contact with the programmers to fix the script. I also locked him out of all the accounts he would sweep multiple times a day, the EV trust accounts, that were solely in his control. No one but he had access to those accounts.
The story has many more twists and turns to it, but I am sure you can see from whence it was spawned.
I have my suspicions regarding the timing of some of the events that have gone on and the demands made by the Master Trader. They were too coincidental?


(continued below)

[World]

I will not leave, unless I am asked to by the members. I and others who have worked on this endeavor ask for your trust and continued support as well as your forgiveness. We should have stood tall and confronted the psycho paranoid tendency of the Master Trader, early on. Less people would have been affected, and assuredly, less damage would have been done, and EV would have ended on a sourer note for sure.
I do have a plan, and have implemented such already, by taking what personal money I had readily available, and placing it with a new company that does trading for investors, who's performance over the last ten years has been outstanding. I am doing this to generate some funds so I can start some payouts early February, and then every month there after. I will need to shut off accruing interests on current AP’s as of December 1, 2006.
I have requested for the fourth time this month that the Master Trader return to EV, the residual deposits from investors that were in excess of withdrawals paid, as well as account for the EV funds sent to him for investment purposes.
The funds owed EV by the Master Trader exceed the amount of matured plans and account balances currently showing as a liability in EV. If the Master Trader returns these funds EV shall have no problem paying everyone their entire account balances.

We have come to a cross roads, I have given the Master trader every opportunity to make things right. I have withheld action hoping he would respond favorably. I am fully prepared to take the adversity that comes my way as a result of my efforts to secure from the Master Trader what is yours. I am sure he will try to besmirch me and coerce me, but these tactics only work if you allow them to. I will not empower him, but confront him to return your funds in a timely manner. Just so you all know, I do have funds with the Master Trader that were traded separately outside of EV, directly with him, and they also have not been paid. I was patient and non aggressive in asking why he had not paid me, as our arrangement had nothing to do with the EV site and it’s TOS that he was relying on? He became silent, ignored me for two weeks, and when I sent him the first of the demand letters, he replied by warning me “not to back him in a corner”.
I have sent him an offer of a payment schedule, over a six month period, and have yet to receive a reply. I suspect there will only be silence.
I have engaged the services of a detective agency that will provide my lawyers with sufficient evidence of liquidity, of that I am certain. Once this has been established our next course will be to proceed to enjoin him from further trading, and seize his assets.
Just so you can be assured, EV will continue on with your continued patience.

Best Regards;
A.DiSondrio

So it looks like all hope is lost as the Master Trader (Francis Springall) has run off with millions of dollars and the only chance of the members getting any funds back is to rely on Anthony Disondrio (William Martinoli).

BUT this is where it starts to get interesting...