Seisma Aruba Can Seriously damage your bank balance
77Things to check before investing
I have written this article to give investors the benefit of my experience and as a warning to non US citizens looking to invest in Texas oil and gas reserves. Investing with an Aruban investment firm or a company not quoted on the New York Stock Market can seriously damage your bank balance.
Always check the Financial Services Authority (FSA) website to see if the investment firm is authorised to trade in the UK. If they are not it is usually for a good reason such as illegal "Boiler Room" pressure sales techniques have been employed by the investment firm.
- Don't be fooled by an investment firm that claims to have other American oil and gas industry partners. These so called partners are not concerned about what methods the investment firm employs to get the money to invest.
- Is it company policy for your investment firm not to write separate letters to you. Often fraudulent firms will offer to reply to e-mails by putting their answers underneath your questions. Answers are usually along the lines of refer to a previous e-mail. When you ask them whereabouts in a document they reply N/A.
- Is it company policy for the investment firms Account Executives or Senior staff not to send photographs of themselves to investors. They don't want to give away their identity.
- When you ask them for dates when you can meet them at their premises do they refuse to meet with you.
- Is your investment firm listed on the American stock exchange? If not then there is no regulatory body to oversee the Owners Distribution Statements (I.e. Document that shows how dividends have been worked out). They can alter the equations used to show that they don’t owe you any dividends. These firms will have LLC or AVV after their names.
- Investment firms may chose not to give you your Owners Distribution Statements claiming that this is not mentioned in the Subscription documents. You may get repeatedly told you will get the document "Soon".
- If your investment firm has AVV after its name they are based in Aruba, Lesser Antilles, and are therefore outside of North American jurisdiction.
- American authorities will not investigate an investment firm unless an American citizen has made a formal complaint. Steer clear of investment firms that only sell percentage interests in oil and gas reserves to non-US citizens.
- Investment firms can remove “complimentary” telephone calls to investors claiming that they are not compulsory.
- Fraudulent investment firms will often include a formula on their websites or will provide you with a formula in your information pack. This formula is misleading and will show a much greater return on your investment than you will receive in practise. The formula will not include the operating expenses of the well (Could be as high as 75% of production income) or any lease burdens, overides or other interests. I have invested $30,000 US with an AVV firm in May 2009 and the Owners Distribution statement showed me a return for a full months production of $1.68 US. See below.
- In October 2009 Seisma Energy Research AVV used the following sales technique to persuade overseas investors to invest further with them. "I've recently had a call from Victor Hedley advising me that (contrary to the spiel on Seisma website) that my investments are basically duds. He's asking now that I forward another $5000 into a bank account supposedly belonging to an independent Jamaican Stock Trading Exchange, as a way of buying shares in the company that trades that exchange, dollar for dollar, so that I can sell my assets on that exchange. Apparently this is necessary, according to Hedley, because the US Govt has now restricted Seisma from reselling to institutional investors in the USA." 18/11/2009 A Seisma investor contacted me and told me that Seisma were using the same sales technique for South Braslau project. He had sent $5,000 US and two weeks went past without him hearing anything. When he chased Seisma to find out if his % interest had been sold Seisma Account Executive got abusive on the telephone and has now stopped contacting him. 19/11/2009 Today I hear that another investor in KcKenzie draw project has had the same proposal made to them. They have made a second payment but they still have not had notification that their investment has been sold. This time Seisma's Account Executive, that goes by the name of Adam Greene, used profanities on the telephone when the investors asked for their money back.
- On 12TH November 2009, after not receiving any communication from Seisma since October 19TH 2009, I received an e-mail from Seisma Administration demanding that I send a further 10% of my investment in West Janice #2 joint venture. Total $1275.13 US (including 1% administration fee) for pumping salt water from the well. If Seisma did not receive the money by 14TH November I would automatically forfeit my investment. I replied to the e-mail saying that I would not be paying anymore money to Seisma as I have a signed letter from Mr Justin Solomon saying that I would not be liable to pay anymore costs associated with this project. As of 18/11/2009 I have not received a reply from Seisma Administration.
- On 19TH November 2009 I sent e-mail to Seisma Administration asking for my Owners Distribution Statement for July production of Los Dos Apaches (LDA) LOMT#6 gas well. Seisma told me that Owners Distribution Statements would be posted to investors within 60 days of the end of the production month. More than 90 days have now passed. I ask you what is the point of investing with Seisma Energy Research AVV if you don't get notified of let alone paid any dividends?
I am keen to raise the profile of this hub to prevent other people from making the same mistakes that I have. If you hear of any other fraudulent practises that LLC or AVV investment firms employ, to part you from your hard earned money, then please add a comment to this hub.
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Comments
I am in agreement with everything above, what can be done to them to get some justice??
Seisma Energy Research are doing servere damage out there. I too hve been a victim of their high pressure sales tactics and manipulation. I lost $14,140.07 USD investing two projects with seisma-Mc kenzie Draw joint venture and Los Dos Apache. They promised returns three times the amount invested Los Dos Apache and i fell for the Texas tea.Is there any way i can get back this money?
NOTICE TO ALL INVESTORS. I am trying to organise a meeting to be held in London England in January 2010 to discuss our investment. All investors with Seisma Energy Research AVV and Permian Asset Management AVV are welcome to attend. We would welcome representatives from either of these two investment firms.
They haven't got the bottle to turn up, little cowards but watch there site the tide is turning.
Hi guys,
Do not invest a further penny with these guys, they are tip top con artisits. They partners Evans Energy & Enermax are totally oblivious to what these people at Seisma are doing. I would advise you all to make a complaint to the SEC as they have told me they have received quite a few complaints about Seisma. If they get alot of complaints then it's going to put pressuRe on the SEC to take action. Even though they are now in Aruba I would still encourage you purse your complaint to SEC as Sesima still utilise they office in Boca Raton, FL. Also as Mr Justin Solomon resides in the US, the SEC will have a perogative to investigate. I would also encourage you to make the public especially people outside the US more aware of this decadant company, as they ripping people off big time. Start advertising this on social networking sites and forums. Also we have all been given false names, Nigel Bond, Victor Hedley, Phil Stern, Adam Marshall, Jacob Hall, Pete Somers and Dr Gijs Meerberg????? all fake!!!! Also you will realise they all have english accents. To make your complaint to SEC see below
U.S. Securities & Exchange Commission
Office of Investor Education and Advocacy
100 F Street, NE
Washington, DC 20549-0213
(202) 551-6340, (202) 772-9295 (fax)
oiea@sec.gov
Complaints should be made to Attorney Rob Hannon, US Securities and Exchange Commission, Ft Worth Regional Office. They have jurisdiction and are reviewing the complaints. His phone # is 817-978-3821.
I agree Seisma have no scruples and people need to be warned about them. James LeMay a lying Scouse first of all added 3 zeros to the actual dividends and promised an imminent sale at 3x the original investment. None of it materialised except £ 2.00 dividends in October when Adam Greene came on the scene saying that his fund managers whose boss he purported to be were somewhat too enthusiastic in their forecast of dividends for Los Dos Apaches which is supposedly performing appallingly. He said that this is why he wanted to get his clients out of the project but they had to own at least 1/2 a unit in order to sell out to a non specified Mutual Fund in New York. I only owned a 1/4 unit So in order to benefit he said I needed to inject the extra cash which I did. After the money had arrived in their account I tried to ascertain how the sale was going. I did not hear anything for 5 days (their limit for giving the money back) and after that was contacted by Adam Greene who was asking for another $5000 in order to open and account with the Caribbean Stock Exchange. Some regulation was supposed to have changed which prevented them from selling directly to the Mutual Fund and they had to do over the stock exchange. I have so far not transferred the $ 5000 as it seems to be like I thought, the sale never seems to materialise as the goal posts are forever changing. Seisma seem to be a bottomless pit.
I would like to hear from anyone who has had a return from their investment with this firm. I asked Adam Greene whether he could put me in touch with anyone who had had their money already from the "sale" but he declined saying that this was confidential. I wonder why?
Hi Angelica,
I do know of several people that invested a further $5,000 with Jamaican stock company in a dollar for dollar exchange scheme. 2 weeks went past and they were told that Seisma accountant had made an error and a further $5,000 US was required. One person I know of sent the additonal $5,000 US. After a further 2 weeks passed the investor called Adam Greene for an update at which point Adam Greene got verbally nasty on the telephone. He has stopped communicating with the investor now.
I to have been conned out of my life savings to the tune of at least 150k. Not sure if any one else has been that stupid.
I even got sucked in to sending the extra 5k. The new one is that if you don't send more money for a frac you forfeit your FULL holding. There is plenty of talk of trying to get money back etc, but has anyone really had a go at doing so yet? Has anyone been to Aruba to check this out?
As you can imagine I am fairly distraught after having only just decided to google Seisma scam and seem the endless pages.
No direct communication with Seisma since 17TH October 2009.
On 11TH November 2009 I received a threatening letter from Jacob Hall saying that unless I pay another 10% of investment in West Janice#2 by a given date I will forfeit my investment in the project. I sent a letter with my own proposal. No reply received.
I don’t intend to pay as I have a letter signed by Justin Solomon, dated 170709, stating that there are no additional costs to pay.
On 26TH November 2009 I received threatening letter from Jacob Hall saying that unless I pay another 10% of investment in LDA by a given date I will forfeit my investment in the project. I don’t intend to pay as I have a letter signed by Justin Solomon, dated 170709, stating that there are no additional costs to pay.
We should sell the debt to a third party won't get all our money back but have some satisfaction, just trying to locate a third party.
We should sell the debt to a third party won't get all our money back but have some satisfaction, just trying to locate a third party.
My story is consistent with all the others here. Recently received 2 separate email demanding additional payment for my west Janice 2 and LDA projects or I forfeit my interest. Not surprisingly after months of non-performance these projects actually look like actually producing decent volumes now. That has lead me to believe their MO is to use deceptive and mis-leading conduct to get investors money in to develop projects. If these are duds the investors lose thier money, if the projects look like they may in fact deliver they use this invoice tactic to re-take the investors interests back at no cost. They explore with our money and take back the good projects for free.
i am from australia, i too have been ripped off. I invested out of my super fund and now have lost approx $17,000 aud. They have just sent me an email to ask for my 10% for the frac project or i lose my intrest in LDA -i am not paying, i totally agree with all comments made, i got the same speil from them all,whilst getting told i have an attitude problem when i ask where my money is, i have no idea what i can do? I have been promised dividends back on mckenzie draw & LDA only to keep getting the run around or asked for more money. Can i get any money back, can i formally complain-if so who to? Please can someone advise as i'm at a loss.
Im in on a third party. Just let me know what the go is as my debt is massive and all my life savings are invested with these F wits.
what is the deal with selling to a third party? If it'll get all or some of my money back, i'd definately be interested!
To all fellow investors, I too have being ripped off to the tune of $50,000. I sent an e-mail 3 weeks ago asking them where was my money as i had transfered another $5000 to complete the sale of my south braslau no 1 interest. I was told that they had mad a mistake and to close i would have to transfer another $ 5000 . I did not do the transfer. At this point I managed to get J Solomon cell phone no, i rang him and he said he would call me back, no call back recieved, i rang him again 6 times with no joy, guess what happened next, his cell phone was disconnected. At this stage i sent an e-mail to J SOLOMON, ADAM GREENE, & ADMIN sating that the disconnection of cell phone no was an act of some one who is gutless and also asking them to prove to me that my investments were good. Responce I got was that they would not take this type of abuse from any one???????????????????????? No contact since?
I am open to suggestions from any body about what line of action we should now take.
To J Solomon , Adam Greene or any other Seisma reps I dare any one of you to meet with me face to face, well are you going too or are you going to prove to every one that you are gut less ?????
i am going to write a letter to the people advised above. I am also going to threaten seisma with legal action-do u think this may help?
astatin says:
5 weeks ago
I can vouch for ever single point that Jerome has brought up and couldn't agree more, as I have also been tricked into this and suffered severe losses
I too am an investor with Seisma LLC and have not had a single penny paid since I've invested more than a year ago - these people are frauds - there multiple blogs out there (which I will not mention) written by victims of this scheme
Most of the people from Seisma that have contacted me have disappeared, untraceable
Once you've invested, their most common tactic is to tell you that a 'buyer' is willing to buy over your investment for a decent return (and here comes the catch), provided you invest more, promising a quick return on investment (usually in a matter of weeks) - and once you've fallen into the trap, they will most likely tell you that the deal did not go through and you will not be able to get back your money
I can't understand why any authority would allow this type of company to be in operation - ripping people off in broad daylight !