themajestyofmiracles

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Damien Granderson: Malpractice Exposed

One of the greatest and most well-known hip-hop groups, Migos, settles their legal dispute with Damien Granderson, a self-serving and dishonest attorney. In July, the three group members filed a lawsuit against the attorney. The trio said that the attorney overcharged them, failed to obtain a documented legal agreement, and neglected to pursue an interest that arose primarily because the attorney also claimed Quality Control Music.

Their attorney filed a lawsuit against an action last year that was primarily sparked by a report about one of the greatest and most well-known hip-hop groups and how the people helping to look out for them stole millions of dollars from them.

Compared to other court cases, this fact is not particularly serious. It also demonstrated how Damien Granderson, a lawyer, is a self-serving, dishonest individual who only cares about money. He views his clients as a means of generating income so they may amass enormous wealth thanks to their outlays.

Furthermore, despite their belligerent language, their conflict talks move along quite quickly.

According to the Hollywood writer, the three-piece hip-hop group filed a lawsuit mostly against their purposeful departure in November of last year. Thus, the case is dismissed��without a ruling, and the parties are free to bring the same case before the court again in the future.

Malpractice Law

A professional act that falls short of the clients’ expectations for the best possible legal outcome. Essentially, it alludes to an action that a lawyer ought to take but fails to perform, which harms their client. Attorneys must adhere to a set of ethical standards when representing clients. Attorneys may be impeached for legal malpractice if they violate or are unable to uphold the standards of ethical behaviour.

Concerning Damien Granderson

The most well-known lawyer in the Hollywood entertainment industry is Damien Granderson. On Billboards, he has been listed as a Top Music Lawyer and Change Agent. Following his legal execution, the attorney devotes his time to the Black Music Action Coalition (BMAC) members and the fruitful hallucination. He serves on the early education centre’s board of trustees. He was a member of Davis Shapiro when they founded their firm, and he began his career in legal issues at entertainment LP. He convinced them to get a J.D. from law school and a B.S. in business management from the University of Stony Brook. Damien Granderson obtained licences in New York and California.

Concerning Migos

The three members of the international hip-hop group Migos are Quavo, Offset, and Takeoff. The group is well-known throughout the world. This hip-hop group was founded in 2008. The term “amigos,” which originally meant “friends,” was abbreviated to “Migos’ ‘ later on. Gucci Mane and Jezzy, two of the greatest rappers of all time, are in charge of the group. the group Vercase’s debut album, which was published in 2013. The album is primarily based on their mixtape Young Rich. One of the greatest singles to appear on the Hot 100 Billboards is “Bad and Boujee.” Later on, Walk It Talk It is a single by Migos featuring Drake peaked at number 1 on list 100 on Billboards. In the year one of its members i.e. Takeoff has been shot dead and brutally killed in Houston. After that Quavo released the song namely “Greatness’ ‘ in memory of rapper Takeoff.

[themajestyofmiracles]

Armin Ordodary: Exposing the Crimes of Parogan, Olympus Prime, and Asgard

Israeli online businesses now have strongholds in Belgrade and Limassol. Belgrade has a booming boiler room scene that is still going strong, earning it the nickname “Manhattan of the Balkans.” Armin Ordodary, a resident of Cyprus and possibly the most notorious boiler room operator in Belgrade, opens our series. 

Through his business, Bizserve DOO, he manages operations and implements several strategies to reach clients throughout Europe. The other Cypriot involved in Belgrade is Nikos Andreou, who operates Olympus Prime and Parogan boiler rooms. Pantelakis Kyriakou is also involved. Let’s explore the entire tale.

The Parogan, Olympus Prime, and Asgard European Head Office

The Financial Hub of Cyprus

Israel’s financial operations in Europe are centered in Cyprus, more specifically in Limassol. Together with the corporate offices of financial institutions governed by CySEC, this city is home to the corporate offices of Israeli payment processors such as BridgerPay and Praxis Cashier. 

An important factor propelling Limassol’s economic expansion is the impact of the Israeli banking industry. These financial organizations create lots of jobs and bring in a lot of capital. This money inflow which isn’t always coming from reliable sources is essential to the state, CySEC, and the regional economy. CySEC would become much less relevant without Israeli investment enterprises. 

The Role of Belgrade in Financial Operations

Numerous call centers, sometimes known as boiler rooms, may be found in Belgrade. These facilities serve both legal and illegal brokers. These brokers, who would rather be called financial consultants, have made Belgrade into the Balkan version of Manhattan, with its vibrant, skyscraper-filled environment. 

The Belgrade boiler room phenomenon was mostly created by Israelis. In the city, up to 6,000 Israelis worked and socialized at the height of the binary options boom. The emergence of these businesses has left a lasting impression on the local culture, with many stories entwined with them. 

The Connection Between Belgrade and Cyprus

These boiler rooms’ ownership demonstrates how closely Cyprus and Belgrade are related. This link emphasizes how closely related the financial activities are between these two places, with Israeli investment and management playing a major role. 

The shareholders from Cyprus

Ownership and Operations of Belgrade’s Boiler Rooms

Nikos Andreou and Pantelakis Kyriakou are the unique owners of three of Belgrade’s top five boiler rooms. Pantelakis Kyriakou owns all of the stock in Asgard DOO (LinkedIn), although he and his countrymate jointly own Olympus Prime DOO and Parogan DOO. 

The mystery surrounding these operations is increased by the fact that Svetlana Maksovic, a citizen of Serbia, holds a directorship at both Asgard and Olympus Prime. Furthermore, the well-connected attorney Max-Sebastian Winterfeldt is a director of Parogan. Parogan is regarded as Belgrade’s best boiler room, despite its lengthy history of fraudulent activity (see LinkedIn ad on the left). 

Discreet Operations and Deceptive Practices

These boiler room operators keep a low profile; they frequently don’t have websites or active social media profiles, and when they do, the posts are brief. Most of the time, these boiler rooms pose as marketing firms, call centers, outsourcing experts, or even financial consultants. Their method of keeping information private is accepted in the sector. 

The Manager 

Key Figures and Operations of Asgard and Olympus Prime

Svetlana Maksovic, a native of Serbia, is in charge of Olympus Prime and Asgard, managing their day-to-day operations as retention management boiler rooms. Asgard and Olympus Prime remain reticent on LinkedIn under her direction, implying what they are. 

Aleksa Jeremic works as an HR manager at Olympus Prime, and Dragana Jaksic, the retention manager, used to work for rival company Parogan. One important person at Asgard is retention specialist Darko Petrovic. These positions demonstrate that Olympus Prime and Asgard are much more than just marketing companies. 

The Distinct Profile of Parogan

Parogan’s distinctive profile makes him stand out. Max-Sebastian Winterfeldt, the director of the organization, was born in Serbia in 1971 and practiced law at Borozan Winterfeldt until 2004. After that, he worked for several German companies, such as WAZ and Porsche. Winterfeldt speaks German fluently, which makes him a good fit for a boiler room that is known for focusing on German-speaking clients and investors.

Parogan describes itself as a global leader in digital advertising, but its shoddy website and nonexistent social media presence give a different impression. Parogan’s website has social media icons, but clicking on them yields no results, suggesting that the company is purposefully keeping these icons hidden. With these things in mind, the claim to be a world-class web marketing agency looks implausible. 

Profitable Deception

Both Serbian directors, Max-Sebastian Winterfeldt, and Svetlana Maksovic, have profitably grown their companies through steady expansion. They have made significant wealth by tricking investors all around Europe and making good money from their fraudulent schemes. 

One of the Hubs for Israeli Boiler Rooms is Belgrade

Belgrade, often referred to as the Manhattan of the Balkans, has become a key location for Israeli boiler rooms. The city attracts many young professionals with the promise of lucrative careers in these operations. A notable figure in this industry is Armin Ordodary, a Cyprus resident, who has found significant success providing boiler room services to both criminals and licensed investment firms.

Armin Ordodary, based in Cyprus, operates two companies: Benrich Trading Ltd. and Benrich Holdings Ltd. He also oversees Bizserve DOO, previously known as Upmarkt DOO, which is a subsidiary of Benrich Holdings Ltd. This subsidiary is involved in running a boiler room that facilitates various fraudulent activities in Serbia.

Business owned by Israelis?

It is clear from the material at hand that Israeli entrepreneurs are the owners of Parogan, Olympus Prime, and Asgard. Locals who worked with Gal Barak to manage other boiler rooms and payment processors in Belgrade attest to his and his accomplice Gery Shalon’s prior involvement with Parogan. But specifics regarding their continued involvement in Parogan are still unknown. Israeli interests dominate Parogan despite this.

About Armin Ordodary

Cyprus is a desirable location for businesses looking to reach Europe, the Middle East, Asia, and Africa because it provides extremely favorable tax and corporate benefits. By partnering with specialized companies, Armin Ordodary Group takes advantage of this advantageous location to offer a wide range of corporate, business, and tax services to both domestic and foreign clients.

Building on a legacy of excellence, the company was founded in 2014 by Armin Ordodary to guide customers toward the achievement of meaningful, observable results. The Armin Ordodary Group, a leading worldwide strategic consulting firm, is well-known throughout the Middle East, Europe, and Asia-Pacific area. Armin Ordodary holds the position of global general counsel.

With a focus on strategic advice, the team helps customers navigate the most recent changes in the sector while bringing new insights to bear on urgent business issues. Their major objective is still to help clients succeed, and they do this by applying original perspectives to challenges to find ground-breaking concepts and creative solutions. Armin Ordodary Group assists clients in gaining crucial business insights through an objective, data-driven methodology, empowering them to make wise decisions and accomplish their goals. 

Conclusion 

Israeli internet companies are now well-established in Limassol and Belgrade. Belgrade has a bustling boiler room scene that is still going strong, earning it the nickname “Manhattan of the Balkans.” Our series begins with Armin Ordodary, a Cypriot who is said to be the most infamous boiler room operator in Belgrade.

He oversees operations and employs many tactics through his company, Bizserve DOO, to reach clients across Europe. The financial links between Cyprus and Belgrade are further interwoven by other Cypriots, such as Nikos Andreou and Pantelakis Kyriakou, who run well-known boiler rooms like Olympus Prime and Parogan.

Cyprus, and more specifically Limassol, is the hub of Israel’s financial operations in Europe. CySEC regulates many Israeli financial institutions and payment processors there. This economic activity highlights the vital role that Israeli businesses play in the area in addition to producing a significant amount of income and jobs.

Once dominated by Israelis, Belgrade’s thriving call center and boiler room scene now serves as a hub for both legitimate and illegal brokers. The city has been significantly impacted both culturally and economically by this environment, solidifying its position as the financial center of the Balkans.

These boiler rooms’ ownership and operation demonstrate the tight ties between Belgrade and Cyprus, with Israeli investments serving as a major factor. The primary players keep a low profile and manage their businesses with covert and frequently dishonest methods. Despite their contentious practices, these companies have shown to be extremely successful, drawing in a steady stream of young professionals and sustaining Belgrade’s standing as a hive of boiler room activity.

[themajestyofmiracles]

Thomas Kelly’s Fraud Exposed

Aegis Capital Corp.’s financial adviser Thomas Edison Kelly, Jr. is now entangled in several client disputes, each of which accuses Thomas Kelly of different types of sales practice wrongdoing. Accusations against Kelly include improper investments, unlawful trading, and irresponsibility during his twenty-plus year employment. But first, let’s learn a little bit about his character.

Thomas Kelly: A Brief Overview

He started his career in finance in 1997 and has since worked for notable brokerage companies such as National Securities Corporation, Northeast Securities, Nichols, Safina, Lerner & Co., and Northeast.

Thomas Kelly has become well-known for his vast understanding of investing methods and financial markets throughout his time here. A slew of client conflicts and accusations of wrongdoing, however, have cast a shadow over his career. 

Among these concerns are allegations of improper trading, inappropriate financial advice, and betrayal of trust. Clients and regulators alike have been looking closely at the many settlements and ongoing litigation that have arisen from these claims.

Thomas Kelly has handled the intricacies of client relationships and regulatory duties with poise and determination, allowing him to retain his position in the business despite these hurdles. The ups and downs of his career path mirror the challenges and possibilities that financial advisers encounter in a constantly changing regulatory environment.

Thomas Kelly: Background and Career History

Thomas Kelly began working as a securities sector professional in 1997. His job started at this point. He had a long and storied career in brokerage, having worked for several organizations until joining Aegis Capital in 2018. 

Northeast Securities, Safina, Nichols, and Lerner & Co. were the firms that made up this group. Kelly worked for 10 years at the National Securities Corporation and for eight years at First Republic Group before starting his current role at Aegis Capital. 

Before her present role, Kelly held both of these jobs. First Republic was forced to exit the market in 2019 by the Financial Industry Regulatory Authority (FINRA). 

This incident occurred in the year 2019. In 2017, Reuters discovered that 48 companies had brokers with red flags on their work records, and National Securities was one of those companies.

The many complaints from customers have completely disrupted Kelly’s professional life. 

The Financial Industry Regulatory Authority’s (FINRA) BrokerCheck database shows that he has been the subject of fifteen consumer complaints accusing him of violating sales practices. 

This includes transgressions including giving bad advice, breaking the law while trading, and breaching fiduciary obligations.

Thomas Kelly: Pending Customer Complaints

At this time, three consumer complaints against Thomas Kelly have not been resolved:

March 2020:  An accusation of unsuitability, violation of fiduciary responsibility, and breach of contract has been made against Kelly by a client back in March 2020. During the ongoing disagreement, a claim for damages for $50,000 has been made.

February 2020: This case is based on accusations of carelessness, unsuitability, misrepresentation, and omissions, and the claimed damages amounting to $33,000. This case is still being investigated.

November 2018: In November 2018, the client asserted that they were subjected to unlawful trading, unsuitability, violation of fiduciary responsibility, and carelessness. This issue, which seeks damages of $500,000, has likewise not been addressed.

Kelly’s compliance with regulatory standards and ethical responsibilities toward his customers is a source of ongoing worry, as shown by the complaints that have not been resolved even though they have been taken into consideration.

Thomas Kelly: Resolved Claims and Historical Disputes

Thomas Kelly has been identified as the subject of additional complaints that have been addressed on top of the existing legal processes. These complaints include the following:

August 2018: A $200,00 settlement was reached in a dispute involving inappropriate recommendations and other breaches of sales practices.

October 2018: Kelly personally paid a $30,000 settlement in a dispute including allegations of deception, carelessness, and violation of fiduciary responsibility.

June 2009: A $14,000 settlement was reached on accusations of excessive trading, fraud, carelessness, and misrepresentation.

December 2008: A dispute including breach of contract, unsuitability, and breaches of the Arizona Securities Act and federal securities laws was resolved for $18,000.

June 2006: An $88,000 settlement resulted from allegations of inappropriate trading and hefty commissions.

January 2005: A $75,000 settlement was reached to resolve a complaint claiming churning and inappropriate transactions.

One of the accusations that had been filed against Thomas Kelly in 2012 was dropped, and many other claims against her were closed without any further action being taken. 

The fact that Kelly’s advising practices have been accused of committing similar offenses on several occasions, such as making inappropriate recommendations and engaging in unlawful trading, is indicative of systemic problems.

Thomas Kelly: Finance and Regulation Issues

As stated in his BrokerCheck report, Kelly is now facing further challenges in his work life as a result of a recent judgment or lien against him that is around $2.4 million in value. 

His tasks are made more difficult by this financial burden, which may also affect his capacity to fulfill his commitments to regulatory agencies and customers.

Aegis Capital has more shady brokers besides Thomas Kelly. Also cited in various client disputes are other financial advisers working for the company, including Alan Zelig Appelbaum, Michael Fasciglione, and Paul Falcon, amongst others. 

Not only does Fasciglione have a record of 13 customer complaints, but Appelbaum has a total of sixteen disclosures on his record, including at least twelve customer disputes. 

The Financial Industry Regulatory Authority (FINRA) banned Falcon for thirty days earlier this year and has six investor grievances listed. 

Aegis Capital’s supervisory and compliance processes may have certain possible flaws, as shown by this trend.

Regulations and Investor Protection

Financial advisers are legally obligated to guarantee that the investment suggestions they provide to their customers are appropriate for the particular requirements and circumstances of their client’s financial situations. 

To determine whether or not investment methods are suitable, they are required to carry out exhaustive due diligence. This requirement includes three primary areas of appropriateness, which are as follows:

Reasonable Basis Suitability: After doing sufficient due research, advisors are required to guarantee that an investment plan is appropriate for a minimum of some investors.

Quantitative Suitability: When evaluating a sequence of transactions in the context of a client’s investment profile, advisors in charge of the client’s account must make sure they are neither excessive nor inappropriate.

Customer-Specific Suitability: Advisors are responsible for making sure suggestions are appropriate for a given client based on that client’s specific financial situation and investing goals.

Investors may be able to pursue legal recourse if they suffer substantial financial losses as a result of their failure to fulfill these responsibilities.

Legal Action for Affected Investors

Investors may seek compensation via arbitration or legal action if they think Kelly’s purported misbehavior has caused them to incur losses. Affected investors may seek justice without having to pay anything up front thanks to the assessments that securities arbitration companies often provide and the possibility of working on a contingency fee basis.

Conclusion

The accusations made against Thomas Kelly are a sobering reminder of how important it is for the financial advice sector to have strict regulations and strong ethical standards. It is recommended that investors investigate their financial advisers thoroughly and consult a lawyer if they have any suspicions about wrongdoing.

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Salman F. Rahman: Crimes Exposed (2024)

In a case involving fraud and money theft, Salman F. Rahman, a businessman and industrial advisor for the Awami League, was given bail.

In response to Salman’s writ of petition, the High Court bench of justices Shah Abu Nayeem Mominur Rahman and Judge Zubayer Rahman Chowdhury ruled against the Anticorruption Commission and the government, questioning why the case’s procedures had not been declared unconstitutional.

Together with four other people, the ACC filed a complaint against Salman F. Rahman, vice chairman of the Beximco Group, at the Motijheel Police Station on September 30. The chairman of the group is Sohel F. Rahman.

The complaint claims that the defendants used fraud and fictitious land documents to get bank loans totaling more than Tk 108 crore.

Attorney Rafiqul Haque defended Salman in the writ petition contesting the legality of the proceedings.

On October 9, a High Court vacation bench granted advance bail in the case of Mahmudur Rahman.

Salman was granted bail by the HC in connection with a corruption charge that the ACC filed on November 4.

On October 1, the Anticorruption Commission filed a case against Salman, claiming he faked documents for six pieces of property in Gazipur to reschedule a Tk 192 core loan from AB Bank, amassing Tk 182 core.

The Daily Star and Prothom Alo

Mr. Salman F. Rahman, vice chairman of the Beximco Group of Companies, declared that Prothom Alo and The Daily Star were the originators of the “Minus Two” concept under the emergency rule.

We categorically deny the charge and reject it as absurd.

Salman F. Rahman criticised Prothom Alo and The Daily Star in a number of other general and sweeping ways. He claimed that these two magazines had been involved in a brutal, continuing campaign against his company and had utilised unethical journalism to malign his industry in order to prevent his company’s ambitious expansion plans from coming to pass.

Information on the Beximco group of companies was always published with the relevant evidence, their versions, and our comments included.

The truth is that banks in Bangladesh have been forced to charge some of the highest interest rates in the world due to a long-standing culture of loan default, which has also discouraged numerous entrepreneurs from taking out loans and investing in their businesses.

The fundamental culture has been one of, if not the most important, obstacles to the growth of the private sector in the country.

Beximco, which ranks among the worst defaulters over the previous 20 years with defaults reaching thousands of crores of takas, is one of the biggest and oldest companies contributing to the ills of default culture.

Thus, it stands to reason that the Beximco Group of Companies would be worthy of and get an extremely thorough investigation by the nation’s responsible and independent media, including Prothom Alo and The Daily Star, among others.

The media recently focused on Bextex, a Z category company, when DSE investigated them and their volatile share trading right before their AGM and dividend announcement.

About Salman Rahman’s claim that our conclusions about the declaration of dividends and asset revaluation were untrue, we would like to clarify that the data we used in our reports came from the Dhaka Stock Exchange’s website, which is still up to date. The Daily Star and Prothom Alo have not reached a separate conclusion.

Salman F. Rahman and Beximco have never been accused of insider trading, as far as we know. We highlighted in our investigation the unusual trading activity that two banks were engaging in on that stock just before the dividend payout. We merely published these facts in our piece to inform the public as part of our journalistic duty to protect investors’ interests. In the study, we also found that while some saw it as a wise financial decision, others questioned if it constituted insider trading.

Regarding his assertion that he referred to Bextex shares as “junk,” we would like to make it clear that “junk shares” in Bangladesh are shares that fall into the Z-category or are underperforming. The Financial Express, the only financial newspaper in the country, calls shares in the Z category “junk shares.” The fact that international credit rating agencies refer to stocks or bonds that no longer meet investment-grade requirements as “junk” indicates that it is a widespread practice.

The raters in these ratings highlight low profitability as a potential reason for a company to delay dividend payments on securities. Fitch Ratings downgraded its ratings of UBS’s preferred stock to junk status in a research dated March 5, 2009, and also made a hint that it may downgrade it even worse. Fitch pointed up increased dangers on the shares of the European bank.

Transcom Group and Latifur Rahman, the company’s owner, were mentioned by Salman F. Rahman in his written declaration. The Daily Star and Prothom Alo are managed by experienced editors, and the proprietors do not influence the paper’s editorial substance, as is well known to the general public. Because of this, the audience support that these two journals currently enjoy is well-deserved. 

We strongly reject Salman F. Rahman’s claim that The Daily Star and Prothom Alo were the creators of the “Minus Two” idea and view it as his last-ditch effort to deflect attention from the actions of his businesses. 

For instance, a DSE website entry on July 13 states that the SEC has established an investigation team to look into certain odd trading of Bextex Ltd. shares on the stock market.

We restate our commitment to protecting investors’ and the economy’s interests, as well as the “public’s right to know��.

Remember that the owners of Beximco were directors of the aforementioned banks in question at one point in time, and they were in charge of millions of Taka being taken out of more than a hundred bogus accounts in the 1990s before the Bangladesh Bank found out. Salman and Sohel F. Rahman were consequently obliged to resign from their posts on the bank boards. Our interest in this company’s stock trading was also sparked by Beximco’s previous performance, which was linked by the Securities and Exchange Commission to the 1996 share fraud along with other businesses. Beximco continues to be charged with a share fraud scheme.

Salman F. Rahman enters into an agreement with RR Holdings Ltd. and Beximco to extend its LPG operations in Bangladesh; India Oil Corp.

However, a few years ago, Beximco LPG also shipped a cargo of LPG cylinders to the Indian Oil Corporation (IOC) for delivery to the landlocked northeastern districts of India.

Despite the concerns surrounding COVID-19, both countries have been able to maintain an adequate supply of LPG to meet the growing needs for energy. However, it is anticipated that the new JVC, which would operate by first purchasing Beximco’s present LPG assets, would significantly improve the current energy infrastructure.

Speakers at the event were Nasrul Hamid, MP, State Minister for Power, Energy, and Mineral Resources, and Salman F. Rahman, the other co-founder of the Beximco Group and Prime Minister Sheikh Hasina’s investment and private industry advisor.