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Friday, July 04, 2008

Andrew Wilshire - Part 01

Who said success cant be reached within a short span of time.. with an ability to work hard and prove your skills, success will be yours in no time. Just like the motivational story of Mr Andrew Wilshire, a investment adviser recruited by Beddows Commodities Inc. Mr.wilshire's predictions/analysis were being generated to several large commodity traders in 1997, when he began his own investment newsletter. Within two years, he was generating commissions worth millions of dollars from fast-growing brokerage house with more than 25 brokers, his previous venture being just a small financial newsletter.

Over the years, a large number of successful enterprises were being run by this man, all this accomplishment by his use of expertise as an adviser in finance and technology. His early success came from his ability to provide solutions, as in raising capital and applying technology, to financial markets and his most important the ability to use a combination of his vast experiences and the internet's marketing power to reach audiences near and far. Now there's no turning back for Mr.Wilshire, and the same can be your faith one day. So, does this story motivate you in any way? am sure it does:)


  1. coolingstar9 said...
    It is possible if we have the knowledge, experiences and skills, we can earn big money especially on stocks.
    Thanks for the great information, I learn one more thing.
    Have a nice weekend.
    Best5 wishes from coolingstar9
    Anonymous said...
    Washington, D.C. -- The U.S. Commodity Futures Trading Commission
    (CFTC) announced today that the Honorable Donald M. Middlebrooks of
    the U.S. District Court for the Southern District of Florida issued a
    final judgment against Wilshire Investment Management Corporation, Inc.
    (WIMC), a Florida corporation; its president and CEO, Andrew Alan
    Wilshire of Jupiter, Florida, and employees Eric Scott Malcolmson and
    James Joseph Russo of Tequesta and Palm Beach Garden, Florida,
    respectively; and National Commodities Corporation, Inc. (NCC) of Fort
    Lauderdale, Florida. The court denied defendants' Motion to Amend the
    final judgment on June 1, 2006.
    The final judgment trial order, entered on December 5, 2005, followed
    a four-day bench trial stemming from a complaint filed by the CFTC on
    September 14, 2004. The complaint alleged that the defendants
    fraudulently solicited customers by misrepresenting the likelihood of
    realizing large profits from commodity options trading and
    misrepresenting the risk involved in trading commodity options (see
    CFTC News Release 4997-04).
    The final judgment order found Malcolmson and Russo committed
    solicitation fraud in violation of the Commodity Exchange Act and
    Commission regulations and held WIMC vicariously responsible for its
    employees' conduct. The order also held WIMC president, Andrew Alan
    Wilshire, liable on two theories-as a controlling person and for
    failing to diligently supervise WIMC employees. The order found that
    Wilshire knew of his employees' fraudulent sales practices or that
    Wilshire was "willfully blind" to these practices. The order also
    held defendant National Commodities Corporation, WIMC's guarantor,
    jointly and severally liable for WIMC's violations.
    Specifically, the court found that since at, least from September
    2000, WIMC, Wilshire, Malcolmson, and Russo fraudulently solicited customers
    by misrepresenting the likelihood of large trading profits and
    downplaying the risks involved in trading commodity options, and by
    linking profit expectations to well-known weather events, seasonal
    trends, and historical prices. For example, according to the order,
    Malcolmson claimed to help his clients "double or triple" their
    money, turning $5,000 and $10,000 accounts into $100,000 -- even
    though 88 percent of his clients lost money between 2000 and 2004, with the
    largest gain realized by any of his clients of approximately $8,000.
    In ruling against the defendants, the court rejected WIMC's argument
    that their written risk disclosure statements signed by the customers
    balanced exuberant descriptions of profit potential.
    Sanctions Ordered Total More than $500,000
    The court ordered the defendants to pay a total of $147,891.99 in
    restitution to eight defrauded customers and imposed a $100,000 civil
    penalty against each of the three individual defendants and a $100,000
    civil penalty against WIMC-for which the National Commodities
    Corporation guarantor is jointly and severally liable. This type of
    liability means NCC may have to satisfy the entire judgment amount if
    the other defendants cannot pay.
    Based on the court's finding that defendants' behavior was blatant,
    brazen, and repeated, the order also permanently prohibits Wilshire,
    Malcolmson, and Russo from engaging in any commodity-related activity
    in the future.
    Anonymous said...
    Release: 5200-06
    For Release: July 19, 2006

    Federal Court Finds Florida Corporation Wilshire Investment Management Corporation, Inc. and Employees Committed Commodity Option Fraud in Action by U.S. Commodity Futures Trading Commission

    Company, President and CEO Andrew Wilshire, and Employees Eric Scott Malcolmson and James Joseph Russo Banned from Commodities Industry and Ordered to Pay Over $500,000 in Restitution and Civil Penalties
    Anonymous said...
    Cannot find any state or federal licensing information on this guy where he is registered as any type of investment advisor. I am guessing that perhaps his commodity FRAUD conviction prohibits him from doing that. He has no track record and manages zero funds in registered securities or commodities, that I can find.
    Bottom line: another internet scammer misrepresenting the truth.

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