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You might’ve read my initial blog post questioning whether Oliver Velez, Charles Vaccaro, Team Trading & Team Trading Extreme STOLE their customers’ money. I have no idea if they are a scam or if there are lawsuits brewing (my guess is yes on both counts), but I do know is one of my TIMalert subscribers had to cancel the service he loved because Team Trading had closed up shop & taken his entire trading account with them…and now they are not answering his email questions or phone calls.
With allegations of thousands of people losing their entire trading accounts, there still has yet to be ANY news articles written (the debate has been relegated to message boards on degenerate trader websites). NONE of the higher ups in “the trading industry” seem to care that these scumbags proudly exhibited at EVERY Trading Expo of years past (I even talked with a Team Trading rep to get them on Investimonials…see their ratings so far and if you are a customer, please share your experience so we can get to the truth…I think we can handle it)
Luckily, I am here to fight for the little guys and my thanks goes out to one PennyStocking Silver subscriber for sending me this interesting apparent Facebook conversation with Oliver Velez:
Despite my email being put out there for Oliver to respond to, I have not received any email from the accused. Oliver was given the chance to respond to my article, but says he “can’t fight this. My actions are all I have to offer”. Responding like friggin politician, he doesn’t address ANY of my concerns. Where is all the customer money Oliver? Why don’t you repay some/all out of your pocket?
No Oliver, you can fight this by telling us the whole truth and nothing but (methinks you’ll soon become accustomed to this phrase) and you have money to offer too. And it’s money you should be offering to the thousands of people you, your partner and company (companies?) have ripped off.
Oliver Velez supposedly has a new chatroom and wants to focus on teaching…well, as I’ve told a few people, he could claim to be able to make me a billion dollars, but given that we know what happens to his ex-students, I’d probly never see any money he’d make me! It’d really be a bummer to make a billion dollars and then have Oliver or Charles or one of their accomplices run off with all that money…and that’s IF I believed Oliver Velez could make me any money, which I don’t believe for one second.
Oliver Velez you freak, do you not feel anything when you see emails like this:
I have known you since 2007, I mean just from the internet and I love your strategy and I like your attitude and your honesty. See Im a college student from Germany and I worked 4 month to save money so I can open an account and I saved 2,500 dollars. So I opened an account with a prop firm so I can get a 10:1 leverage and daytrade with just 2,5K. It worked for four weeks and your strategy worked as well, but since last week the owners of that firm which is called Velez Capital Management aka Team Trading aka Team Trading extreme closed the company and all accounts and the money is simply gone. They are not answering emails or phone calls and the website is shut down… So all my savings and all I had is gone… Thats the reason why I cancelled TIMalerts because I do not have an account and no money anymore. You were right the financial industry is full of frauds… They stole my dream as well… But I will work again save money open an account and start trading again but its gonna take a few months…
All the best Branko
Here is the followup email from Branko after he read my post exposing this trash:
Thank you very much for the great post… I love it… Those freaking scammers deserve as much negative posts as possible. Here a quick update: Oliver said in his chatroom that he had nothing to do with the indy accounts that this was Charles Vaccaro’s responsibility and that Team Trading Extreme (indy accounts) was all Vaccaro’s business. What a joke in a 50%/ 50% partnership. Oh well I said good bye to my money.
I don’t give a damn whose fault it is, if MY partner ripped thousands of people off, I’d go into MY savings and pay them back because MY name is at risk. But then again, I’m an honest guy…Oliver is just a slick-talking scumbag who feels nothing for those who have lost everything thanks to him.
By now, you should better understand why I rage against all the corruption in “the trading industry” and the joke that is the financial industry…Velez & Team Trading won’t be the last, they’re probly a dozen, if not dozens, if not hundreds, of unethical firms just like ’em.
Oliver, you and your kind have been polluting “the trading industry” for far too long and thanks to Investimonials, your time is over. You will soon be made a dinosaur. This is some kid with $2,500 who is absolutely BROKE because of your existence. Thousands of others too. If I had my way, we’d tar and feather you to serve as a public warning that we the people will not stand for such disgusting business practices.
Some more followups to my post:
That pretty much says it all. If I were you, I would stay as far away from these guys as is possible. I want to commend you on your research and for not falling for this scam.
Like many I was burnt by Velez/VCM/Team Trading/TTE! Amazing thing is Oliver Velez is starting another similar venture, OliverVelez.com. “But wait, there’s more!! it’s bigger and better…plus, we’re licensed now!” Great for you Oliver, but what about us thousands that trusted you before!
“SHOW US OUR MONEY!!!!!” He says that all previous traders will get FREE training in his new venture…but what’s that adage: “Once bitten, twice shy!” Or “Fool me once, shame on you; fool me twice, shame on me” Kinda hard for us to trust you anymore! Damage’s done! We want our money back!
Total and utter scam! No other way to describe them…This company is run by some very savy, and well known scammers. Their forte is getting in trader deposits and walking away with the money. All they do is change the name of the company, make numerous false claims as to why the company is closed or changed, and the traders along with those who paid for their educational services are left out to dry. Ask for the money in your account to be returned to you and you will get no where, try and sue them, you will only waste money because they will dissolve the unit that stole the money, they will claim there is no longer any money in the company. I am telling you all this from experience and it is 100% fact. Please stay away from them, and be aware because they will just shut down this most recent scam of a company team trading, which took over after velez capital management and numerous others prior to this scam. Look them up, I am dumb founded how more people have not gotten together to stop these crooks!… I think its mostly because they are highly skilled at smoke and mirrors and keep many people stringing along and foiling any attempt at legal action against them. I have facts, and personal experience with this, please feel free to contact me for details – but do yourself a favor and stay far, far away.
Tim, please look into these guys and help expose this very large scam!
Charles Vaccaro (who is quoted saying the US. Protects criminals), Oliver Velez (who is trying to play victim while walking away with 10’s of millions from this scam alone). Jim Droskoski, who is another one of their cohorts and apprentice to the spin master, fraud kings! This needs to be announced, more people need to be aware of these crooks so the can stop stealing peoples money.
We the people will not allow this to happen again.
I encourage EVERYONE to leave your reviews of Oliver Velez, his many products & Team Trading on Investimonials so we can expose this punk ass to the world and he’ll have NOWHERE to hide.
On a side note: Oliver, Charles & Co. I must thank you…you are the perfect monsters to help illustrate how crucial it is to have a website like Investimonials. Thank you for being so devious and straight out evil. I feel terrible for all your victims, but they should take comfort in knowing their loss will help save tens of thousands of people in the future. Never again will we allow such schemes to go on for so long…in the future, the people will be forewarned.