Please discuss ICC opportunity in this forum

Posted: Tue Sep 19, 2006 5:30 pm

Not much to discuss about ICC except to post receipt of the monthly statements.
Those of you that withdraw can post your experiences here.

Posted: Tue Sep 19, 2006 5:31 pm

Very humdrum - received my monthly statement for the apst few months.
No changes or upadates form Admin of any sort.
Nice and smooth sailing for several years.

September statements come in a nice PDF format, which I like very much.

Posted: Tue Oct 10, 2006 6:17 pm

Another regular month - received my monthly statement.
Thanks to whom ever signed up under me.
Please let me know who you are, so I can get you access here.

Levaz

Newbie Joined: 20 Sep 2006 Posts: 43

Levaz,

I am not sure if I the one you are referring to, but I signed up under you perhaps a month ago or so. I have yet to spend yet but I definitely like this club. I love the fact that they are diligent about making sure everything is private. Very Happy

Posted: Thu Oct 12, 2006 9:38 pm

lovelydi21 wrote:

Levaz,

I am not sure if I the one you are referring to, but I signed up under you perhaps a month ago or so. I have yet to spend yet but I definitely like this club. I love the fact that they are diligent about making sure everything is private. Very Happy

You are already here (private access folder), so it is not you.

And yes, I do like this club a lot. It is perhaps one of the most boring investment clubs out there. And this is not a bad thing. They just pay on time, so far and for so long!

Levaz

Posted: Sun Nov 12, 2006 1:11 pm

Received the monthly statement on schedule. Nothing major to report here. No changes and no complaints of any sort.

Levaz

Posted: Mon Dec 04, 2006 10:12 pm

Quote:

Dear ICC Members,

For many years now our program has been running steadily, profitably, and without major problems. We have never missed a payment so far, have done our best to have a reliable and friendly customer service, and consequently have built a reputation of honesty and integrity that our members have learnt to depend on.

As the membership is aware of, we derive our profits from long-term investments in some international companies, as well as from other medium and short term investment opportunities, being the foreign exchange market (forex) the backbone of these profits.

For a couple of months, now, one of our major offshore banks has been having problems with some new regulations and compliance issues that have entangled some substantial amount of our trading and operating funds. We have managed to do the payouts for October 3rd and November 3rd borrowing directly from our forex trading accounts, in the expectation that the funds entangled in red tape would be soon released. There is a solid team of lawyers working on the liberation of these funds, and we know it is just a matter of time. But in some countries, these things take longer than we are used to. This has added to another problem that we were about to face. With reduced margins, and the forex market turning violently against us, we have been forced to close several long-term losing orders, incurring substantial losses.

After several meetings, a lot of planning and strategizing, and some good amount of stress, we have come to the conclusion we need to move the program, temporarily, into a Loss Recovery Phase, for a couple of months.

These measures have been decided by our administration and will be implemented as of November 30th, 2006:

1. As of November 30th, 2006, the payouts will be temporarily suspended, since we cannot afford to remove any more moneys from the trading accounts. We know this is a very bad timing, with the Christmas season approaching, and we feel terribly sorry about it. We have, however, to protect the integrity of the program, concentrating all available funds into recovering the losses and returning to a profit situation as soon as possible.

2. All earnings, with exception of the deposits done during the month of November, will be temporarily put on hold – monthly dividends and referral bonuses. The new accounts and existing members’ deposits done during November will continue to accrue profits, as we felt it was the fair thing to do.

3. No new deposits and new accounts will be accepted during the Loss Recovery Phase, which will last for 3 months, to the end of February 2007.

4. Moneys sent after November 30th, 2006 will be returned to the sender.

After February 2007, we expect to return to normal operations, resuming the payouts, deposits, etc.

In business, particularly investments, there is always some degree of risk. We do our best to manage the program with the utmost degree of integrity and professionalism. Our bottom-line guarantee to our members has always been that we would protect your principal investment at all costs. Many of our members have already taken out of the program more, some substantially more, than what they brought in. Our membership can rest assured that we will do everything humanly possible, always, to honor such commitment, and the trust deposited in us over the years.

It has been with great pain that we had to take such measures, in the long-term interest of the program – to protect your investment, and ours. We humbly apologize for such inconvenience, particularly at this time of the year. We count on your support and prayers to turn the tide around and, soon, resume normal activities.

We will keep you informed, and at least once a month, at the usual time for the statement of account, will be sending you an e-mail with updates. With the exception of those who made deposits in November, all other statements of account will remain with exactly the same balance for the next three months, being unnecessary to send any more statements until the Recovery Phase is over.

It is in the best interest of all of us that nobody goes out there to internet forums and other entities, complaining about our program and making accusations. This would only add to the problem and hinder our recovery. Our company is not located in North America, and we have no funds in North America or any other jurisdiction under the SEC or similar regulating bodies. We have managed for all these years to keep ICC out of the limelight, so we can continue with our tradition of low profile, no exposure, and profitable operations. Any member that clearly acts against this guideline will be in breach of our Non-Disclosure Agreement and will have his/her account closed without possibility of refund. Please cooperate with us, so we may recover from this unfortunate situation and return to quietly making the profits you have been used to.

We truly appreciate your support and understanding during these stormy times and look forward to continuing our profitable partnership in the New Year. In spite of the difficult situation for all of us, we truly wish you a Merry Christmas and a prosperous 2007.

On behalf of the ICC administration,

Carl
Accounts Manager

Newbie Joined: 24 Sep 2006 Posts: 50

one thing is we can say is that they are real business and when they resume payouts investers can feel a lot safer

Posted: Tue Dec 05, 2006 10:16 pm

whitts99 wrote:

one thing is we can say is that they are real business and when they resume payouts investers can feel a lot safer

This is one that may still have some hopes, but in this arena, stoppage of payments is not a good sign.

There is only one that has come back after a stoppage, and still not at full capacity!! The next 45 - 60 days will show the level of recovery!!

Levaz

Newbie Joined: 24 Sep 2006 Posts: 50

i believe they will recover when they say at end of feb i doubt they would say two to 3 months as they will be aware at the end of feb if there are more excuses investers may start let there feelings known elsewhere and i think they wouldnt want to much attention but lets wait till feb

Posted: Sun Feb 04, 2007 1:56 am

Looks like they have asked for another extension. "Things are moving slowly."

I still have hopes here since none of us actually have any means of tracking the program - they have always maintained their secrecy, and are quite well shielded by the use of safe-mail.

The fact that they keep in touch is good, I guess.

Let us keep our fingers crossed.

Levaz

Newbie Joined: 16 Dec 2006 Posts: 22

Indeed - they are so well shielded that there can be no earthly reason to keep communicating if they are dead in the water or planning to run off. There can't be any more inward investment whilst things are as they are, so the communication is actually a very good sign.

Newbie Joined: 24 Sep 2006 Posts: 50

well icc is having problems with big brother freezing moneys and now icc have decided if and when they get the frozen funds back they will pay principal back to invester and call it a day basically goverment authorities are putting pressure on banks to shut programs down read the news in safe mail email account

Posted: Mon Mar 05, 2007 12:42 pm

The US has been using the excuse of 2001 to basically do whatever they please around the world, including strengthening the foundation walls that separate the mega-rich and the rest of us - tax payers that keep the government machine well oiled and fed.

Levaz

Posted: Wed Apr 04, 2007 2:01 am

The latest update, if any of you missed the e-mail

Quote:

Dear members,

Just a quick update to make sure you know we are still here.
We are still waiting for the two main depositories of our money to return them to us.

The European group that is holding several million is in deep legal trouble and may not be able to return any of our funds.
The Caribbean bank, which has a smaller, but substantial portion of our money, has promised to return it, at least in part, very soon. We will be waiting, since the recovery process depends on these funds.

There is a smaller portion, invested long term, but this alone is not able to recover the funds for all members, and it would take years. Our best hope is that the moneys in the European group and the Caribbean bank would be returned soon, so we can put them into safer, but profitable investment, soon. Even if only the Caribbean money is returned, we will be able to recover the principal for all members - it will just take a little longer.

We will keep you posted as to the progress of the endeavor.

Note: There are still some members that are sending new deposits, particularly through e-gold. Please do not send new deposits. We have to return manually each one of them. And sometimes the price of the gold changes, and we don't have in the account enough to send back. WE ARE NOT ACCEPTING NEW DEPOSITS.

Regards,

Carl
On behalf of the ICC Administration

They are still communicating, which is good. They are preparing us for a massive write off on the European Holdings, which is bad.

Hopefully if the 2 other sources come through, we may just be able to get out with the shirts on our backs!!

Levaz