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Allegations about UBS to consider
Posted: Saturday, August 13, 2011

Posted: 1/31/2009 5:21:11 PM

By: Shady guy

Yep, thanks for posting this article.

It clearly shows that Birkenfeld is a shady character. No wonder UBS quickly got rid of him

Posted: Saturday, August 13, 2011

Posted: 1/29/2009 6:14:55 AM

By: Not UBS

Well this article pretty much clear UBS, since it was the rogue banker Birkenfeld at Union Charter that was managing Olenicoff’s money:

“Olenicoff says that despite his insistence on low-risk investments, after Birkenfeld left UBS in 2005 and joined Union Charter (bringing Olenicoff's account with him), stakes in "speculative securities," some not yet publicly traded, "which have subsequently become worthless" were bought for his portfolio. Among such companies identified: Mexoro Minerals Ltd., Synova Healthcare Group and Vectr Systems. The total amount of such investments was not listed.

Olenicoff's suit says Union Charter was helping to raise money for Synthesis Energy Systems. SES CEO Vail and director Storey had been Union Charter partners. In the summer of 2006 Olenicoff says, $5 million of his money was sent to SES for 1 million shares. The company said in filings the $1.4 million fee to Union Charter was for raising $18 million, which apparently included Olenicoff's $5 million.

But Olenicoff says he was sent false account statements that did not list SES and other positions, nor was he told that Union Charter was getting that $1.4 million fee partly for investing his money.”

Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780

Posted: 1/28/2009 10:35:23 PM

By: Sigh


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