***An email from Charlie Vaccaro***

Discussion in 'Prop Firms' started by Jerry B, Feb 29, 2012.

  1. Jerry B

    Jerry B

    Here is an excerpt from an email Charlie Vaccaro sent to one of his many victims. This guy, like so many others, me included, are trying desperately to get Vaccaro to come clean and return all the money he has taken from us. Anyway, while I wish what Vaccaro is saying here were true, it is simply another broken promise, another one of his many lies. We have to give him credit though, he does have a way with bullshit, doesn't he. I can provide anyone who wishes, a PDF copy of this supposed Private Placement. Here is the email:

    Now for your debt from Element Trading Corp. I have no control or say in the matters of Element Trading Corp. Element Trading Corp is a Panamanian Corporation, as you know since you signed a trading agreement with them. All request must be directed to them. The contact information should be in your trader agreement.I am in the process of completing a private placement and jointly a merger to bring Element Trading Technologies LLC a New York Corporation public. Once this is completed and it may be as early as two weeks, I will be able to make a deal with the principles of the Panamanian Corp to acquire their traders and their corresponding balances. If that happens Element Trading Technologies LLC will pay back any trader who has a balance on their books.

    As soon as I know more on the above offering I will make an announcement to all involved.

    Charles Vaccaro
     
  2. This ought to be just great!
     
  3. Jerry B

    Jerry B

    Yeah, it's $5000 minimum.......I'm just sure traders will be lined up around the block trying to get a piece of this PPM.
     
  4. To be honest, anyone who put their money with Charles Vacarro did not do their proper research. It takes a few hours to sit down and research the firm you are doing business with and what comments the users have posted. in Vacarro's case, he has done this multiple times prior and traders keep sending him the cash.

    "The wise inherit honor, but fools he holds up to shame." Solomon’s proverbs chapter 3 excerpt.
     
  5. Jerry B

    Jerry B

    Tell me, what's it like to be perfect?
     
  6. oraclewizard77

    oraclewizard77 Moderator

    I was able to trade for free with Element Trading. Obviously, I knew it was a scam to steal client accounts so I never sent them money, but the good news, is their Forex Trader actually gave me one secret setup that actually works. If any of you learned something, then consider your account your education fee, and take it as a positive experience.

    Some things you could learn:

    1) There is no reason if you are citizen of say the USA, to ever sign up with a company that is not in your country and is not regulated by American law, and does not keep your money in a segregated account here. Of course, even with all that said you could still have your money stolen, but its much harder.

    2) If you have a ton of money, always sweep it out of the trading account to a safe account by the end of the day.

    3) Don't use a bucket shop to trade Forex.
     
  7. Good information. We complain about too much regulation, and there is too much, but much better than the alternative when you're money is on the line.

    FWIW,

    Don
     
  8. Jerry B

    Jerry B

    It's been an absolute nightmare for myself as well as the aprox 40-50 other traders who are owed money by Vaccaro & Element Trading. Yes shame on us for not doing our due diligence, but we trusted him, we never thought someone could be so brazen and deceitful. How as he gotten away with this type of activity for so long?
    This time around though he is on the radar of the authorities & regulators.
     
  9. Personally, I think the SEC is "worthless like the tits on a boar". They don't catch the big stuff.... like MF Global and Madoff... but they make the rest of our registered lives almost miserable.

    I don't think they give a hoot about investors losing money... only that the ones they regulate have "all of the i's dotted and t's crossed". Such that... when customers' advisor/rep manages to lose a bundle for them... or worse yet, run off with their money... the SEC pipes in with, "Sorry, didn't see it in time to catch/prevent it"...

    :mad: :mad:
     
  10. it's not that they don't catch it. they're paid off and don't care. They only want "regulate" the competition of the firms sending them the most $$ in fees to protect the $$ they have coming in.
     
    #10     Mar 2, 2012