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Is this a scam? Print
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Monday, 23 October 2017 16:20

Is this a scam?

Do you receive cold calls from 'brokers', binary offers and the latest alternative investment? I do, frequently. Once our name is on a share register or a broker leaves taking client information to his next billet, we are seen as fair game.

It used to be Land Banking until the scammers were run out of town. Alternative investments - are still on very fertile ground. The frequency of calls I get has slowed a little but rarely a week goes by without three or four calls that usually start with: "I recently sent you some information...."

My latest call was a little different.

Dan from New York Law Specialists (NYLS) called.

He has some great news. He is working on a take over of US Oil and Gas and has found my name on the share register. It seems I still own 36,720 shares and as Dan's job is to buy up sufficient shares for his client to complete the take over, at $3.96 a share, I am due $145,411.20 and he had to move fast!

Despite my denial of any knowledge of ever buying into US Oil and Gas, Dan was not put off. Perhaps I had forgotten or maybe I had not been aware that I had bought some shares that were part of a take-over or private placing and the original broker had omitted to tell me, etc., etc.

I  went along with Dan who would send me documents to be returned. As US Oil and Gas was not listed, we would enter into a 'Private stock purchase and escrow agreement'. I duly returned the documents. 

The next call to me was from Dan's associate, Adrian. 

Adrian said that as I could not supply a share certificate there is a problem and that I should contact the Department of Regulators in Washington who might be able to help. Their number 001 888 665 1814.

I called the department on the number given me by Adrian. A secretary took my details and my number for a call back (not the one that Dan from NYLS was using). Strangely, when Richard Peterson from the regulator called me back, he did in fact use the number Dan from NYLS used - how strange that he would have that number.

Richard Peterson of the Department of Regulators was very helpful. He wanted to know all about my situation regarding the shares and also details about New York Law Specialists of whom he had no knowledge. Richard explained that US Oil and Gas shares are 'Restricted and Controlled Securities under rule 144. (an actual SEC rule - here is the relevant webpage at the genuine US SEC.

Richard went on to suggest that he could check the share register, online, as we chatted. Of course, he found an entry that confirmed me as the share holder. He then suggested he would contact the registrars at US Oil and Gas on by behalf to ask if the share certificte could be recreated for me and would email it. As I said, very helpful.

As at the close of business today, in my inbox, from that nice man at the regulators, is a pristine copy of the share certificate confirming my share holding that is 'Restricted Stock Reg-S 144'!

Is it a scam? Not yet. Cost to me to lift the 144 restriction has not been mentioned.

As rule SEC 144 states: But even if you’ve met the conditions of the rule, you can’t sell your restricted securities to the public until you’ve gotten a transfer agent to remove the legend.

What will happen tomorrow?

Check the next instalment, will NYLS offer their services to 'remove the legend' at a fee of course?

If you have experienced a similar situation, do let me know. support 'at'

New York Law Specialists website: (A quick check on shows creation date, September 2017)

Department of Regulators, Washington Regulatory Division, website: (, creation date, June 2017)




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False break outs are either the bain of the Forex traders life or one of the best trading opportunities available. I go with the latter view, I'm seldom comfortable with breakouts as there is a very high probability of false breaks so I like to be on the look out for failing breakouts as the probability of a move against the previous trend is higher.

Trader Vic, Victor Sperendeo, detailed the 2B false break in his 1991 book 'Trader Vic, Methods of a Wall Street Master' Take a look at the picture below.

This is how to trade them, see the chart and desciption below....


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