TWO MORE PANAMA COMPANIES OPERATED BY PONZI SCHEMER GARY LUNDGREN IDENTIFIED

                 

Reliable sources in Panama, responding to our series of investigative articles on Gary James Lundgren and the broker-dealer that he owns, and illegally operates in Panama, Interpacific Investors Services, Inc., which is not licensed to sell securities in Panama, have furnished the names of two additional Panama corporations , both reportedly controlled by Lundgren, and previously unknown to this blogger.

These corporations are:

(1) Global Bond Investors, SA.

(2) Global Realty Investments, SA.

As you can see, he continues to use companies whose names are deceptively similar to entities owned by ex-President Ricardo Martinelli (e.g. Global Bank), in order to create the false impression that Martinelli either owns them outright, or controls them. Lundgren has been touting his close relationship with the former president, who is now facing massive corruption charges, and fled Panama to avoid arrest and prosecution. Investors could have been deceived into thinking that they were doing business with Panama's sitting president, when this was clearly not true.

The disclosure of these new corporate entities raises additional questions about Lundgren's dodgy securities business;

(1) Were worthless bonds sold in Panama, to American and Canadian nationals ?
(2) Do real property investments that Lundgren sold in Panama qualify to be treated as securities, under the generally accepted definition ?
(3) Did Lundgren create bogus bond and real estate documents, to demonstrate ownership, to entice victims to invest, with the intent to defraud his clients ?

We shall continue our investigation, and report back to our readers shortly; stay tuned.