|Gary James Lundgren|
A complete list of the Lundgren front companies can be accessed by visiting the website of Global Investor Alerts at : http://www.globalinvestoralerts.org/global_finance_investments_sa_gfisa.shtml Compliance officers may want to check outgoing wire transfer records at their bank, to determine whether any payments were ever made, from bank clients, to any of these shell companies. Additionally, alerts for all the listed corporate names should be entered into your internal operating procedures.
We have previously detailed how Lundgren, using a telephone number with a New York City area code, deceives the investing public, while claiming to operate as a legitimate broker-dealer, notwithstanding that his former brokerage no longer has a license to market securities. All his personal American licenses were revoked, after he repeatedly failed to submit his accounts to FINRA, for an audit. Panamanian businessmen who have done business with Lundgren have asserted that he laundered drug profits for Colombian Cartels operating in Medellín, through his trading accounts, and for that reason would not turn over his ledgers, and bank records.
Additional information, made available by reliable sources in the investment industry in Panama, where Lundgren makes his illegal trades from, have added that, in addition to the Panamanian front companies, he has shell corporations in the US Virgin Islands, as well as the BVI. Lundgren promises North American investors ten or fifteen per cent, per month, through purported high-yield programs that have no basis in fact, and he pays off older investors, through the Ponzi scheme method.
There have been repeated rumors, to the effect that Gary Lundgren has not entered the United States for several years, due to a sealed Federal Indictment, but whether it is for money laundering, tax evasion, securities fraud, wire fraud, sexual offenses, or some other charges, has not been verified.
|Gary Lundgren's attorney, GASPAR LEE PEDRESCHI|