| Sebastian River Holding’s Inc. Announces Its First Foreign ...
"We are on our way to become large investors in foreign currency," stated Daniel Duffy, President/CEO of Sebastian River Holding's Inc. "Since Iraq has the largest natural gas reserve in the world and is the 2nd largest proven oil reserves in the world, with over 100,000,000,000 barrels of oil, the company feels that the Dinar reaching 1 Dinar per US dollar is feasible. If the rate goes 1 Dinar for 1 US Dollar, this would give Sebastian River Holding's Inc. a profit of well over $99,000,000 from this one investment." Sebastian River Holding's Inc. will soon announce other foreign currency investments and updates on the two acquisitions of Pelican Capital Mortgage Lending, Inc. and TCI Electronics, Inc. Forward-Looking Statement This Press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Currency investment trainer indicted
A man who prosecutors said referred to himself in a journal as a "financial serial killer" has been indicted by a federal grand jury on charges of stealing millions from investors who thought he was leading them to riches in currency investments and real estate. Prosecutors said Joel Nathan Ward, a frequent commentator and speaker on foreign exchange trading, was charged Thursday with nine counts of fraud and money laundering. Prosecutors said many of his victims were members of his family, friends and people who enrolled in a foreign currency investment training program he operated in Sacramento. Attempts to locate Ward's attorney or reach family members were unsuccessful. Prosecutors said Ward was accused of defrauding investors in a purported real estate investment scheme in Mississippi.
Turlock man accused of defrauding investors of millions
SACRAMENTO (AP) - A Turlock man who called himself as a financial serial killer and a scumbag con artist has been indicted by a federal grand jury on charges of stealing millions from investors who thought he was leading them to riches in currency investments and real estate.
Forty-eight-year-old Joel Nathan Ward was charged today with nine counts of fraud and money laundering. Prosectors say many of his victims were members of his family, friends and people who enrolled in a foreign currency investment training program he operated in Sacramento.
He's also accused of defrauding investors in a purported real estate investment scheme in Mississippi. ©2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Currency hedges: The pros and cons for foreign stocks
Currency swings can quickly erase hard-won gains in a portfolio, but money managers at most of Canada's largest equity mutual fund groups with billions of dollars in foreign holdings do not hedge or insure their portfolios against exchange rate fluctuations. Andrew Massie, vice-president investment management and a portfolio manager with the Mackenzie Cundill group, says that to his knowledge, Cundill managers are "pretty much the only guys in Canada" that take such precautions full time." Volatile currencies are a two-edged sword in that they have the potential to help or wreak havoc on a portfolio. In 1998, the latest time the yen carry trade suffered a major breakdown, the yen climbed 35 per cent over five months against the U.S. dollar. The yen carry trade refers to borrowing of money at low interest rates in Japan and reinvesting it in higher-yielding securities and emerging markets.
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