Valcor Investment: is it real or is it a Scam?

Valcor Investment WAS a fraud after all.. according to a visitor.

2009-12-04T10:03:00.000-08:00

According to a visitor of this blog, the Valcor people have run away and there is no more money. Now there's a surprise. All US residents should contact the SEC.

Anonymous said...
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.

A post by a visitor to this blog shines some light on the Valcor fraud...

2009-12-04T10:02:00.001-08:00

I arranged a buyer for some containers of hardwood and a possible large investor for Valcor. If sample deliveries were satisfactory, the buyer would arrange a sizable investment to get things rolling. Together with my associate, the investor/buyer visited Nicaragua and met with Val Pacheco. This was in April 2009. The buyer ordered several containers of lumber, to be paid for F.O.B. an Atlantic port in Nicaragua. Upon returning to the USA, the buyer called Val Pacheco almost daily to find out when his lumber would be delivered, but nothing ever showed up at the designated Nicaraguan port. At the same time and immediately afterwards my associate made contact with several local "lumber"
sources, who advised us that Val Pacheco's so-called timber concessions were not worth the paper they were written on. In fact we met one local lumber company that had the actual government concessions.

At the same time that all of this was happening, Val Pacheco advised us that the San José, Costa Rica office (meaning Vince Matlock's CR Premier Realty office)was mis-appropriating funds and that we were not to do business through them, but rather directly with him, Val Pacheco. Needless to say this left a rather sour taste with myself, as I am an investor in Valcor through the Costa Rica
office. Shortly after these events CR Premier Realty newsletters stopped and their Escazu office closed, with phones ringing but no one answering.

I confronted Val Pacheco with these issues, in question form, after he accepted my invitation to correspond through one of the common business networks (LinkedIn I think?). However, he never bothered to respond to any of my
questions, such as why he couldn't make deliveries for cash to the Nicaraguan port my buyer had arranged. Clearly, we are dealing with a very small operator who is completely out of his depth.

I do a lot of business in Colombia. Maybe I need to put a Colombian collection agency on the job?

August 21, 2009 5:32 PM

Investors are worrying

2009-07-21T02:38:00.000-07:00

We have been contacted by current investors in this project, who are worried that they might never see their $10,000 or $20,000 investment again.

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.. ?

Published Financial Reports not for the right Company?

2009-05-12T07:01:00.000-07:00

We have been asking for Valcor to publish audited reports of the company that investors are buying shares into.
When we asked about this, we were told it was not our job to ask questions. But surely it would be beneficial for EVERYONE for any queries to be addressed?

We have promised that we would take down this blog once we were satisfied that:

1) all required information was published
2) everything was done in a transparent manner
3) all unscrupulous practices to get people to invest in this opportunity were stopped.

We have promised this and we will honour our promise.

Whilst a financial report has been made available on the Valcorinvestment website, it does not look like this report is for IPEC, or for Exportaciones Maderas del Atlantic SA. Whereas in fact we would be expecting the reports for both of these.
This means that conditions 1 and 2 have not been satisfied.

Recently we also came across a website advertising this super investment opportunity as recession-proof, talking of full productivity in a few weeks, and promising a dividend in early 2009.
http://www.nuwireinvestor.com/opportunities/timber-investment-after-hurricane-felix-huge-returns-52080.aspx

This seems to contradict our request to stop unscrupulous practices.

We want to be fair to ValcorInvestment. But we also feel it is our duty to protect would-be investors. All this blog does is report facts, and it allows investors to see what ValcorInvestment has promised in the past.

We will honour our promise when the condition is right.
At this time, it seems that ValcorInvestment are not trying to cooperate, and are posting the wrong financial reports as an attempt to confuse. Again, the ball is in your court.

Gerd construcciones

Valcor Makes their Financial Reports available

2009-05-11T08:50:00.000-07:00

Valcor has made their financial reports available.

http://www.valcorinvestment.com/Financials%20Valcor.pdf

It should be noted that all values are in Nicaragua Cordoba. The current exchange rate is approx 20 Cordoba = 1 USD.

I think it could be useful for Valor to include a statement explaining the reports. When looking at the reports, I have a number of questions:

1) These reports seem to be for Valcor SA. Aren't investors investing into "Exportaciones Maderas del Atlantic SA", which owns 100% of "IPEC International". ? Shouldn't these reports be made available as well?

2) "sales" for the whole year on the results show 28,378 "dolares". is this USD? AUD? CAD? and it this all that was sold in one year of operations?

3) "assets" shows that the concessions are worth 5,131,865 "dolares". Again, what is the currency here?

Maybe Valcor could provide a statement to accompany the results?

Valcor Investment: a post by a visitor to this blog

2009-05-06T11:07:00.000-07:00

Here is a comment that was left on this blog by a visitor last week.

For those wondering if Valcor is real or a fraud, ask yourself these questions.
1. Who are they currently selling to? Can they prove it.
2. What volume are they selling? Does this volume match their claimed sawing capacity? They claim to be sawing 300,000 bd ft a week of mahogany and cocobolo. Peru ecports about 150,000 bd ft a week of mahognay, and they are the world's largest exporter of mahogany. Not too many buyers out there for 10,000 bd ft a month of cocobolo, certainly not in the US.
If he is selling 300,000 bd ft of mahogany and cocobolo a week, that should be between $1 million and 1.5 million per week in income, depending on grades sold. 30,000 bd ft a week would be between $100,000 and $150,000 per week
3. Do you think Valcor can cut and sell more mahogany than Peru?
4. Ask to speak to people who are buying from Valcor.
5. Call Sitco lumber in the US and ask about Valcor. Do they buy from them, do they know them, what do they think of them?
6. If they were selling to Bosovich from Peru, why does their website say they have a deal with Bozeman? Can't they spell their name properly if they have a deal with them?
7. why is their website down today?
8. If you invested money with them, why did you not buy a bridge in Brooklyn instead? Or maybe stocks in Worldcom or Enron? Those would have been better investments.

Still waiting for financial reports from Valcor

2009-04-24T12:17:00.000-07:00

Financial reports were promised about a month ago but still no sign of them. Why the delay? Why have there been no financial reports ever published for this company?

There is an interesting comment posted for the last post.

Valcor to publish audited reports!

2009-03-29T09:55:00.000-07:00

Better late than never!

The people behind the Valcor Investment opportunity have contacted us to let us know that they are preparing the audited reports required for this share offering. (so I presume, for Maderas del Atlantico, which is the company being invested into, and for IPEC, which I believe is 100% owned by Maderas del Atlantico).

We look forwards to these documents finally being made available to investors and potential investors so that they can evaluate the opportunity!

We are happy that this blog has helped bring better corporate governance to this company. Whilst we have received no positive comments about this blog by current shareholders in the company, we strongly believe that our commitment to bring better fiscal policy to the company is in their best interest. After all, have shareholders been happy sitting on their investment for the past year, without ever having seen a proper financial report?

Valcor investment not offering to comment on performance.

2009-03-12T11:56:00.000-07:00

A few weeks ago, Dan Chambers left a comment on this blog saying that we were scaring investors away from a legitimate opportunity.
In our reply, we asked Dan to offer us a progress report of the Valcor timber opportunity so that this could be published to increase transparency and to encourage investors in what he says is a great company.

On a number of occasions we have made it very clear that we will remove this blog if transparent, accurate information is given about the Valcor Investment opportunity and IPEC international. We do not want to see inaccurate press releases and pushy tactics to get private investors' money. Dan, the ball is in your court. Why not use this opportunity to make this blog a supporter of your opportunity and a great public relations tool?

We will remove this blog if we are happy that you are being fully transparent and honest.

I'll post an update to the homepage of the blog in a couple of weeks - so if you have some verifiable, solid information and results I promise to include them.

Valcor Investment: New document outlining risks

2008-07-19T12:02:00.000-07:00

A new document has been made available on the valcorinvestment.com website which outlines the main risks in the investment. This is an important document for any share offering and we are very happy to see that it has been drafted out and made available to possible investors.

All potential investors should start by reading this document.

We are still waiting for two further changes to be made on valcorinvestment.com:

1) we would like to see the current audited accounts for both IPEC International, and the holding company that investors would be buying shares in

2) All past press releases should be made available. These are important because they give individual investors a way of tracking how the company has been doing.

If the above two changes are made, we see no further use for this BLOG and we will remove it.

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Valcor Investment Past Press Releases

2008-07-08T03:32:00.000-07:00

*****************************************
PRESS RELEASES BY VALCOR INVESTMENT. WE DECIDED TO INCLUDE THESE PRESS RELEASES HERE AS THEY HAVE NOT BEEN POSTED ON THE VALCORINVESTMENT.COM WEBSITE. NOTICE THE DATE OF THE PRESS RELEASE AND HOW QUICKLY THEY SAY ALL THE SHARES WILL BE SOLD.
*****************************************

PRESS RELEASE April 30, 2008

For Immediate Release
Contact:
Vince Matlock

CR Premier Marketing

Valcor has Retained the Law Firm of Richardson
Patel

Valcor has retained the law firm of Richardson
Patel to represent them in the U.S. Richardson Patel is working with Valcor and
SMH Capital for a $40 million captial injection which would enable
Valcor to process all of the downed timber in the 7 concessions which they
own. SMH Capital is aware of the urgency of the investment and has expressed a
desire to move as quickly as possible to do their due diligence. Funding could
happen as quickly as 30 days - act now to reserve your Class A shares, we only
have a few left

PRESS RELEASE May 5, 2008

For Immediate Release
Contact:
Vince Matlock

CR Premier Marketing

SMH Capital to Invest $25 Million

As previously mentioned, Valcor has retained the
law firm of Anderson Patel in Los Angeles to represent them in the US. SMH
Capital, in conjunction with Anderson Patel is in due diligence for an
investment in Valcor and/or IPEC for $25,000,000.

SMH
Capital Inc. (member FINRA / SIPC ) provides asset
management, wealth management, and capital markets services to affluent private
investors, institutions, and middle-market corporations. The Asset & Wealth
Management businesses span a range of specialized investment programs. Its
Capital Markets divisions offer a full range of services including: private
placements and public offerings of equity and debt securities, financial
advisory services, institutional equity sales, trading, and research, as well as
prime brokerage services for hedge funds and fixed income securities sales and
trading

MAY 12 2008

Val just signed a placement agreement with Casimir Capital out of NY
(I can give you their name since they are just a broker) who feel
very confident they can fund all 7 concessions for $80 million (it
would be funded in stages) in a very short time frame. Once we get a LOI we
will be allowed to disclose the name if Casimir allows it. We are talking to several other large investors but until we get something in writing from them we cannot disclose their names.

Valcor Investment - is it legitimate or is it a fraud?

2008-05-13T12:20:00.000-07:00

I recently came across an investment opportunity which called " Valcor Investment ". I found the material that they supplied to be inconsistent, sometimes untruthful, and incomplete.

Please note that this post is my research only, and potential investors should carry out their own research on Valcor Investment.

Some of the people and companies involved:
Valcor Investment
valcorinvestment.com
Valcor Nicaragua S.A

Exportaciones Maderas del Atlantico
IPEC International (Nicaragua)

What Vince Matlock says on his website valcorinvestment.com:
"Costa Rica Premier Marketing represents a company with timber concession rights with the Nicaraguan government. Because of the size of the devastation and the amount of timber that needs to be harvested they are selling 1000 shares at $10,000 each for a total of $10,000,000. Most of this money will be used to purchase equipment to harvest the lumber. Estimates exceed 2,500,000 cubic meters of lumber with a market value of $1 Billion."
Apparently by investing $10,000 in this, you would stand to make $200,000 to $300,000. WOW. a 3000% return on investment!! Why is the share price so cheap? In fact, why don't the founders take a LEASE on all of the machinery which would be much cheaper, and raise less capital? (less shareholders should mean more profits for the founders). That's the first alarm bell.

2nd Alarm bell: Several SEC regulations are being broken by Valcor Investment:
1) The main risks to the investment should be outlined, they are not.
2) Audited accounts of IPEC INTERNATIONAL (the company that is being invested into, NOT Valcor Investment) and EXPORTADORAS DE MADERAS DEL ATLANTICO should be made available, but at the time I was presented with this investment no accounts where presented. UPDATE: 2 months have passed and audited accounts are still not available. No one in their right mind would invest in a company without seeing audited accounts which prove the company actually has some assets! And no company is ALLOWED to sell public shares without presenting audited accounts.
3) Vince Matlock has made a number of press releases stating that institutional investors were investing and that they would buy up all the shares within a matter of days. The same press releases advised us to buy our shares quickly!! However having spoken to those institutional investors, it seems that there was nothing more than a "first telephone call". Now that a few weeks have past I am not aware that any institutional money has actually been invested.
4) Vince Matlock has broken investor confidentiality laws by spreading the names of potential investors to other potential investors, in order to shore up confidence.
5) Vince Matlock's team lied to potential investors by telling them that some people had invested in these shares, when in fact those people had no intention of investing.
6) It is illegal for a private share offering to be offered to US persons unless they are closely involved with the company or the people who are close to the deal.

3rd Alarm bell:
I believe that the concessions for timber which this whole project relies on, might have been suspended. I don't know if this information is accurate, but it would make the company that is being invested into worthless. I don't know if this document is still accurate, but then again I do not know that the Valcor documents can be trusted either!
See page 7, article 7 of this document:
http://www.asamblea.gob.ni/opciones/agenda/2007/IV%20SESION/Adendum%20No.%20004/2.32.doc

VALCOR INVESTMENT. Whilst I am not saying that this "Valcor investment opportunity" is definitely a scam or fraud, I do encourage potential investors to be very careful. In my opinion, Dan Chambers and Vince Matlock have not done the required due diligence for this investment, and are using boiler-room tactics to get individual investors to commit. I recommend that potential investors do their own due diligence.

Here is the biography of some of the people involved in pushing the Valcor Investment share placement, as per the "Costa Rica Premier Realty" website.

Vince Matlock - CEO

Vince Matlock has 25 years experience in banking and finance in the US and Costa Rica. A native of New York, he has lived in Costa Rica off and on for 30 years. He has built several houses and apartment buildings in the US as well as Costa Rica. He is current working on two projects in Costa Rica, Villas Cabo Vela in Playa Grande, Guanacaste and a nature oriented tourist destination in Limon. He has 3 kids and currently resides in San Jose, Costa Rica.

Donya Carter - President

Donya Carter began her marketing career in the hospitality business in the US and Costa Rica. Born in Boston, she moved to Limon, Costa Rica in 1968 and has been a resident in Costa Rica for over 30 years. She has designed marketing and sales strategies for hotels and resorts, tour operations and Real Estate development companies. She has 4 daughters and currently resides in Brasil de Mora, Costa Rica.

Mario Miranda - Executive Vice President

Mario has 20 year of experience in finance in Costa Rica. He graduated from graduate school with an MBA in finanace, after which he has held several positions in banks in Costa Rica. He has been teh finance manager at two banks here in Costa Rica as well as been a financial advisor.He is married and has two chidren. Mario resides in Escazu, Costa Rica.

Dan Chambers - IT and Call Center Manager

Dan Chambers graduated in the top of his class from Texas A&M University with a degree in Management of Information Systems and a certificate in International Business. After graduation he worked as the assistant project manager on the remodel of the Houston Humble Oil Building in downtown Houston, helping transform it into a beautiful hotel and corporate apartments. From there he travelled to Mexico to work as the CFO and General Manager on a start up tilapia farm. He has been living in Costa Rica for a year and a half and resides in Santa Ana, Costa Rica

Christian Castro - Administrative Assistant

Christian works directly with each person here at Costa Rica Premier Realty. He is studying engineering systems in college right now. Christian resides in Escazu, Costa Rica.

Our staff coordinates your real estate investments and purchases in Costa Rica with sound and competent attorney client counseling that specialize in real estate transactions, title insurance companies and licensed home inspection services.

Our exclusive bank financing system will quickly match your financial needs with lending institutions. We know the laws, markets, resources and other realtor professionals.

PRESS RELEASE April 30, 2008

For Immediate Release
Contact:
Vince Matlock

CR Premier Marketing

Valcor has Retained the Law Firm of Richardson
Patel

Valcor has retained the law firm of Richardson
Patel to represent them in the U.S. Richardson Patel is working with Valcor and
SMH Capital for a $40 million captial injection which would enable
Valcor to process all of the downed timber in the 7 concessions which they
own. SMH Capital is aware of the urgency of the investment and has expressed a
desire to move as quickly as possible to do their due diligence. Funding could
happen as quickly as 30 days - act now to reserve your Class A shares, we only
have a few left

PRESS RELEASE May 5, 2008

For Immediate Release
Contact:
Vince Matlock

CR Premier Marketing

SMH Capital to Invest $25 Million

As previously mentioned, Valcor has retained the
law firm of Anderson Patel in Los Angeles to represent them in the US. SMH
Capital, in conjunction with Anderson Patel is in due diligence for an
investment in Valcor and/or IPEC for $25,000,000.

SMH
Capital Inc. (member FINRA / SIPC ) provides asset
management, wealth management, and capital markets services to affluent private
investors, institutions, and middle-market corporations. The Asset & Wealth
Management businesses span a range of specialized investment programs. Its
Capital Markets divisions offer a full range of services including: private
placements and public offerings of equity and debt securities, financial
advisory services, institutional equity sales, trading, and research, as well as
prime brokerage services for hedge funds and fixed income securities sales and
trading

MAY 12 2008

Val just signed a placement agreement with Casimir Capital out of NY
(I can give you their name since they are just a broker) who feel
very confident they can fund all 7 concessions for $80 million (it
would be funded in stages) in a very short time frame. Once we get a LOI we
will be allowed to disclose the name if Casimir allows it. We are talking to several other large investors but until we get something in writing from them we cannot disclose their names.

Valcor Investment Nicaragua Timber