The investors have told us that they have tried to telephone the IPEC / Valcor people, but the phones are disconnected and they are not replying to emails.
If you are a current investor and are worried about your investment, if you are a US citizen you should contact the SEC for advice. http://www.sec.gov/
We may also be able to help - so please contact us via this blog and let us know what your situation is.
Please let us know what information you have about your investment. E.g. Registered office for the company, the accountant, etc. Also, have you ever received financial reports, etc.. ?
16 comments:
I am a Valcor investor and am concerned that I cannot seem to get in touch with anyone. I had money wired from my Equity Trust account in November, 08 and was just recently trying to get an update when I received my emails bounced back. And, when I tried to contact by phone, the number has been disconnected. Help would be awesome.
Hi Margaret,
We were presented with the Valcor "investment opportunity" in April 2008, but have never felt at ease with it. So we asked for more information, and in the end did not invest.
Since then, we have contacted the SEC (Securities and Exchange Commission) to alert them of a possible scam. Not able to do much else, we set up this blog in order to alert possible investors that Valcor might be a scam.
As we are not invested, we do not know what has gone on on the "inside". Have you received quarterly and yearly reports on how the company is going? Have you seen company accounts? Have you ever received a dividend? Do you even know where the offices of the company are?
What we do know, is that the people who are markteting the Valcor investment (Dan Chambers who put up a blog after seeing ours, at http://valcorincredibleinvestment.blogspot.com , and Vince Matlock), use PO Boxes (like the one they have at "Vince Matlock, PO Box 025331,Miami, Florida 33102, United States"), and forwardeable phone numbers. So nobody knows whether they have a real office and a physical telephone number.
We also know that the way the investment opportunity was marketed, was entirely illegal. You cannot be sold shares in a company unless you are very closely connected to the people running the company (in which case it would be a private share offering), or unless the proper procedure was adhered to, which it was not.
We do have a few addresses and other bits of information which we have collected for these people (like the PO box above), which might be useful.
It would also be useful to have all of the current investor to come together to help each other out - you will achieve much more in this way.
The first thing you should do, if you are a US citizen, is contact the SEC on http://www.sec.gov/ as they will be able to investigate whether this is a fraud, and if needed get the FBI involved - no kidding.
Please keep us up to date. If you prefer not to have your comments published on the blog, please let us know. If you prefer to communicate by email, you can send an email to molini.marco@gmail.com but please also post a message on here to let us know you emailed us.
Let us know what the SEC says, as we may be of more help. If you leave us your email address, we will keep you up to date with other people's successes.
Oh, also - as an investor you should have the business's actual registered address, and the contact details for their accountant - do you have this information??
I have invested $20,000 and having the exact the same problem as Margaret. Is there any way to recoup the money?
Andy
Hi Andy,
Thanks for your post, and sorry to hear about your situation.
It would be really useful to know what you do DO know about Valcor, IPEC International, etc...
-Do you have the details for the registered office of the company you have registered in?
-Do you have details for the accountant of the company?
-Have you ever received financial reports?
*Basically, anything that you do have could help. If this IS a scam, then we need to act fast. I contacted the SEC a few months ago to alert them of the possibility this was a scam - but as I was on the "outside", I didn't have much to give them. As you are on the "inside", they should be able to help you more. Give them this blog URL if you like, as I have collected quite a few bits of information in the various posts, some of which may not be available from other sources any more.
I might also be able to find out some addresses for the people involved - as anybody can look up the address of a registered website. (they might have given a false address for their current websites, but maybe not for old websites they registered a few years ago).
Your first step is to contact the SEC on http://www.sec.gov/
And let me know the answers to the questions above, so that we can try to get as many investors together to help each other.
Good luck!
Investment Sniffer,
I think Valcor itself is a legitimate company and the project is legitimate. I think there are some issues with Valcor and one of the intermediaries used to get investors in.
Andy
Andy -- I actually did a quite a bit of due diligence before making my investment. I actually arranged a meeting with the State Department Ambassador for Nicaragua with Valcor's atty and the principal of the company. I have felt confident and merely was wanting an update on activities. I originally sent an email to Sabrina Mommers a few months ago, but no response and I only recently did a follow up to Sabrina and had that email returned. I then tried to contact Dan Chambers via email and that email was bounced back. I tried to call Vince Matlock and the number I had has been disconnected so this is looking a bit strange. I invested thru Equity Trust so I may actually involve them to see if they have any suggestions.
I am starting to have doubts too. I was told last year that I could expect a large dividend at the start of this year, but it doesn't look like this is happening!!
Do other people find the same?
What do you make of this front page article? Does it sound related to your case? Both talk about similar figures of 1 billion dollars of Nicaraguan timber. Just a coincidence?
Thank you for your blog and your time.
www.azstarnet.com/dailystar/302373
www.ventanatimber.com
I am a $10,000 investor and am starting to wonder on the validity of this venture. I have tried and failed to reach the Valcor people several times and have even tried to reach by phone(506)-520-0991 and email (yohanka@sbg-legal.com) the law office of Yohanka Gonzales to no avail.
I live in Canada, and assume that we are quite a number of investors worldwide trying to reach them.I will work collectively or individualy to to bring this issue to clarity.Thank you for putting up this blog, it will most certainly mushroom as we go forward
I have contact info regarding Valcor prinicples, as well know how to put the proper pressure on them. I offered this help to a Valcor investor many months ago, but they chose to believe Valcor. Big mistake. SEC is useless unless they go back to US, and SEC is way understaffed. You have other legal options, better ones. If investors are interested, you can leave contact info or notice of interest on this blog. I know Valcor looks at this site, so I don't want to leave my contact info on it. yet.
good luck to everyone. If all the investors organize themselves together you will have a better chance of success.
I feel like Anonymous in a past comment -- Valcor is a legitimate business and I have not "given up" on my investment; just would like some kind of an update. I would love to be able to be in contact with the principals. I would be interested in organizing so we can come up with some resolution and are all not just shooting in the dark. Any suggestions would be most appreciated.
anyone interested in contacting me regarding how to recover your investment with valcor can Contact me at valcorfraud@hotmail.com
I can then show you my credentials. I know this case very well, it may not have started as fraud, but it certainly is now. And, there is a chance to recover some or all of your investment using Costa Rican and Nicaraguan law, as long as the investors can be found and act in unison.
Margaret and Andy - stop dreaming. start acting, time is not your friend in this matter. I can show you proof this is fraud. It is shockingly easy to spot, although I understand how investors were fooled. I have the advantage of a lot of experience in this.
As on Novemebr 09, the equipment is all gone, Valcor does not exist anymore for any practical purpose. The main guys are all broke, "everyone else's fault"
Kiss your money goodbye, it is all gone, wasted, disappeared.
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I am following up on my dead fathers investments of which I found paperwork of his investment and I haven't been able to find anyone to follow up with regarding his investment in this company.
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