The Superintendency of Securities (SMV) has intervened in Panama Wall Street SA, a Panama City brokerage firm whose foreign clients have reportedly sustained major losses, and where securities fraud is alleged to have occurred. The SMV actually took over the firm's website, and posted its Notice of Intervention there. it appears below:
The company is controlled by a Dutch national, Jochem Bernard Buse, and it has been linked to the American expat, Gary James Lundgren, who was recently banned for life from securities trading by FINRA. Buse's previous securities firms, Thaler Traders SA and Thales Securities SA, were both involved in selling bogus High Yield Investment Programs, (HYIP) ficticious schemes that promise extraordinary returns, but, in truth and in fact, are merely Ponzi schemes.