Bob Bauman’s February 2012 How to Avoid Scams, Frauds and Swindles —Robert E. Bauman JD, Editor Scams are everywhere and the world of offshore finance and investment is especially littered with them. Call it fraud – and that’s where we come in. Our expert advice has guided thousands of people through the world of swindlers and cheats over the years, and we’re proud of that. But just take a look at these three examples: • In 2007, Larry Leif, 61, was a successful sporting-goods and toy company entrepreneur in Delray Beach, Florida. He had carefully planned his golden years starting at the age of 19. However, Leif lost his entire $8 million retirement account because of Bernie Madoff’s infamous scam – at $18 billion, the largest financial fraud in U.S. history. Now Lief is left with nothing but a stack of phony statements. • Laurie Mayer was one of 4,000 employees who lost their jobs and life savings after the collapse of Enron. In 2001 it was revealed the company had practiced systematic, planned accounting fraud and was forced into bankruptcy. Laurie lost her 401(k) pension, totaling more than $100,000. At the same time, Enron shareholders lost billions. • In the mid-1990s, Panama-based Thales Securities SA, called and asked to Inside This Issue The Ponzi Scheme... Pg 2 Offashore Scams and Frauds............. Pg 5 Passport Fraud...... Pg 9 Gold Scams......... Pg 11 Contacts........... Pg 15 Published by The Sovereign Society® appear at one of our Sovereign Society meetings. As part of my due diligence, I carefully reviewed Thales’ advertising materials. In my opinion they advocated violating U.S. reporting and tax laws. My due-diligence check also raised serious questions about investment losses, violation of fiduciary duties and failing to account for clients’ funds. Consequently, I warned our members not to invest with them. In May 2011, the Panamanian National Securities Commission appointed a trustee to take control of Thales for “the purpose of securing the investors’ interests” prior to possible liquidation. In this month’s special report, I look at some of the largest and most common scams, cons and frauds, and I also provide you with a guide on how to steer clear of them. Some of the most notorious con men have become household names, such as Bernard Madoff and Charles Ponzi. Still, I never ceased to be amazed at how easily so many people can be taken in. On numerous occasions, I’ve been asked whether some outlandish offshore “investment” guaranteeing 20% returns monthly is likely to be reliable. (My response: Are you kidding?) Or whether an offshore bank with nothing more than a web page, no physical office address and no listed officers, is a good place to stash cash. (My response: Puh-leez!) One of the Sovereign Society’s major warnings over the past 15 years has been to guard against frauds of all sorts. And that goes especially for offshore frauds, in which many are touted on slicklooking Internet web sites. A recent study contradicted the common perception that most scam victims are vulnerable senior citizens. Instead, it found that while older people were most often the targets of cons, it is those aged between 35 and 44 who are most likely to fall for them. This study also showed that men and women are equally likely to be the victims of scams – although women were more likely to be caught by miracle health scams, while men were more likely to be the victims of investment cons. However, if you are careful and know the score, you don’t have to get hurt. 2 The Ponzi Scheme This scam is a good place to start, and was brought back into the headlines recently by the swindler Madoff and his $18 billion rip-off. A Ponzi scheme is basically a fake investment operation that pays its existing investors with cash from new investors, rather than from any actual investment profit. It originated with Charles Ponzi, an Italian immigrant who arrived in Boston in 1903 with $2.50 in his pocket. Ponzi soon found that honesty was not necessarily the quickest way to get rich. In 1919, he hit upon his big idea. He discovered that international reply coupons had the same nominal value in every country, although they were much cheaper in Europe than in the U.S. Ponzi set up a “Securities Exchange Company” and promised investors they would double their capital in 90 days. Fools responded in droves and most of these “investors” lost everything. In August 1920, Ponzi’s bubble burst and he spent three and a half years in federal prison for mail fraud and another seven years on state larceny charges. He died in 1949 in Rio de Janeiro, as poor as when he arrived in Boston. Told You So Scams, of course, go much further back than Ponzi. Ever since Adam and Eve were expelled from the Garden of Eden, attractive appeals to gullibility and greed go hand in hand with dishonest scams, and have been some of the most notable failures of mankind. Long before anyone heard of Madoff and his multibillion-dollar ripoff, many other Bernies were operating, especially in the offshore area. Stricter offshore regulation in recent years has curbed some of these frauds but, unfortunately, scams will continue as long as human greed and gullibility exist. Madoff’s bilking billons hurt his few thousand clients, many of them who thought they were his friends. But what really hurts is when you get hit by a scam or fraud. 3 There’s a Sucker Born Every Minute The persistent Nigerian letter fraud is one that most of us are aware of nowadays. But here are two examples of my past fraud alerts that were issued well before any official action was taken to stop them. These frauds included the since-closed Millennium Bank, as well as Robert Allen Stanford and his now defunct Stanford Financial Group and Caribbean banks. There is a historical dispute whether circus impresario P.T. Barnum, actually made the well-known statement that “a sucker is born every minute,” but those words have come to epitomize a certain type of credulous individual who will fall for just about anything if a quick buck is promised. Just imagine some shady type, who slips out of a dark alley, sidles up to you and whispers: “Pssst! Buddy! I can get ya’ 20%-a-month return if you give me your money.” That’s roughly what the U.S. Securities and Exchange Commission in 2009 said happened to at least 375 investors since 2004, after two U.S. residents, now in jail, cheated them in a $68 million Ponzi scheme. They offered ridiculously high interest CDs issued by Millennium Bank, which they controlled from Saint Vincent and the Grenadines, a poorly regulated tax haven. The Millennium Bank scandal was easy to predict. Attracted by what should have been unbelievable promises of such high returns, several Sovereign Society members and readers asked me whether I thought they should entrust their cash to Millennium Bank. In less than 24 hours of due diligence, I told them: “Absolutely not!” I discovered a major Millennium Bank claim was simply a lie. Their web site claimed that: “Millennium Bank is a subsidiary of United Trust of Switzerland S.A., a Swiss-registered private trust company established in 1931. United Trust of Switzerland S.A.’s extensive experience in financial services provides Millennium Bank with a solid foundation...” The Swiss banking agency web site told me the so-called “United Trust of Switzerland S.A” did not exist. It was neither registered as a financial institution as required by Swiss law, nor did it appear in the trade registry of Swiss corporations. In other words, Millennium Bank was a fraud. A banking contact in Zurich told me: “Unless we missed something… this bank is a sham…” That was in 2006. The big question for me is this: What took the 4 U.S. SEC and the government of Saint Vincent and the Grenadines so long (three years) to stop this obvious fraud? The Stanford Fraud R. Allen Stanford has been on trial in Houston this month, accused of defrauding thousands with his Antiguan bank, which he claimed held more than $5.1 billion in assets. In truth, it seems he had only a few million. Five years ago, several Sovereign Society members asked my advice about the unusually high returns (30%) Stanford International Bank “guaranteed” for CDs and deposits. When the S.E.C seized the company’s operations in February 2009, I wasn’t exactly surprised. In 2007, I did some due diligence myself and discovered enough disturbing information about both Stanford and his offshore bank that I recommended that our members stay away from the bank. Let’s hope they took my advice. Many people lost a lot of money when the bank failed in 2009. Beware of Dazzling Offshore Deals Some folks seem to check their judgment at the border when it comes to dazzling offshore deals touted on slick Internet sites offering high returns on investments (20% a month guaranteed). Whether it’s greed or temporary insanity, these deluded folks send large amounts of money to unknown persons based on nothing more than web site promises, often without even knowing the names or addresses of those who want your cash. Wire that cash and it’s likely you’ll never see it again, much less a 20% return on it. My experience is that many elderly people are far more cautious about falling prey to fraudulent investment schemes. Perhaps because they have been around longer and have learned that human nature does not always translate into goodness and honesty. A large part of the U.S.’s total population of 311.8 million is in “the senior age demographic.” Those who are 65 years and older comprise 13% of the population. By 2030, with a huge influx of baby boomers, the senior population will swell to 20%. As the attorney charged with due diligence investigations at the Sovereign Society, I often encounter elderly people who ask for my advice. Often, I must tell them they are about to be scammed. Money is always involved. 5 According to a 2011 study by the MetLife Mature Market Institute, elderly victims of financial abuse suffer an estimated $2.9 billion in annual losses. But data collected by the Federal Trade Commission (FTC), the government agency charged with protecting consumers against “unfair or deceptive” trade practices, indicates that seniors are in better shape than other age groups. Fraud, as defined by the FTC, covers most cases involving stranger– induced scams: fake credit card schemes, lottery and prize promotions, pyramid clubs and phony investment sales. These are typically sold through the Internet, telemarketing or direct mail. Elder-care experts say such scams are only a small part of the financial crimes committed against the senior population. 1. Offshore Scams and Frauds Avoid Offshore Problems In the last decade, under relentless international pressure, there has been a real, self-imposed reform of offshore financial centers, with a tightening of laws and rules to protect against fraud. But one problem for the offshore investor is that similar creditrating information on foreign companies is not always available. Although some countries (Canada, the U.K.) have strict accounting and disclosure standards, others do not. That makes your own personal due diligence inquiries all the more necessary. An important point to remember is that a non-U.S. foreign promoter may have little knowledge of U.S. tax or reporting laws. The best offshore professionals will tell you that you need expert American professional tax and reporting help to evaluate any offshore plans or investments. However, too many U.S. attorneys and CPAs have limited knowledge of U.S. offshore tax laws. We can help you by recommending experienced professionals who know what needs to be done. a) Tax Haven Scam I am surprised at the number of people who ask me with all sincerity how they can become a criminal. These unthinking folks want to know about the best tax haven to hide their money “to avoid paying U.S. taxes.” 6 One of the most persistent scams foisted on U.S. persons is the claim that offshore tax havens can be used by U.S. persons to avoid taxes. The harsh truth is that the U.S. is only one of four countries in the world that imposes income and estate taxes on citizens and residents based on their worldwide income – regardless of where they live. While many high-tax countries tax the worldwide income of their residents, they do not tax the income of their non-resident citizens. Thus, a citizen can escape from a high tax country (other than the U.S.) by moving to a low tax country. And, in many countries of the world, income earned by a trust or corporation that is domiciled in another country is not subject to tax by the owner of the corporation or by the grantors or beneficiaries of the foreign trust. While there are some limited exemptions and exceptions for U.S. persons working outside the country, the tax law often subjects a U.S. person to far more harsh tax treatment on their foreign entities than on domestic entities. As many Sovereign Society members know, the U.S. government intimidates and extorts other countries into divulging information about the financial affairs of U.S. citizens in their countries. A horrendous example of this IRS extraterritorial overreach is the Foreign Account Tax Compliance Act (FATCA). An offshore bank account is an essential asset protection and investment tool, but you need to understand and comply with all U.S. IRS offshore reporting requirements. We can recommend professionals and SEC qualified offshore banks and foreign investment firms that will make sure you are in compliance with all U.S. tax and reporting laws. b) Foreign Bank Account Scam Some offshore “advisors” will claim that money in a foreign bank account is protected from creditors. That works only if you are able to keep your foreign account a total secret and commit perjury on your U.S. tax return and other reports. These shady advisors whisper about “numbered accounts” in Andorra or Panama banks, where there will be no record of your ownership of the account. DO NOT BELIEVE IT. Yes, many reputable offshore financial centers, such as Switzerland, Panama and Singapore, have financial privacy guaranteed by law. That’s far better than the U.S., where the dubious PATRIOT Act has abolished all financial privacy. But even in these and other offshore financial centers, tax information exchange agreements (TIEAs) exist that honor official IRS requests. 7 U.S. tax law now imposes on U.S. persons duplicate reporting requirements of offshore accounts on your annual IRS Form 1040, as well as the annual FBAR report due on June 30. Failing to tell the truth is a federal crime. As I explained in your January 2012 Special Report the Foreign Account Tax Compliance Act (FATCA) imposes further individual reporting, starting with the April 2012 income tax filing. As far as transferring funds to an offshore account, each transaction of $10,000 or more is reported automatically by banks to the U.S. Treasury’s FinCEN unit and they also must be reported by travelers leaving or entering the U.S. on customs forms. c) Abusive Trusts Although this sort of nonsense has died down in recent years, there were promoters, some of whom are now in federal prisons, who claimed they could set up a special trust that would protect assets from all creditors, including the IRS, eliminating income, estate and gift taxes. These trusts were said to give you complete control over investments and use of the trust funds. A common sales pitch was that these were the same “secret trusts” used by the Rockefellers, Mellons, Kennedys and other wealthy families, who were able to avoid taxes with their little known trusts. These entities were sold under beguiling names such as “constitutional trust,” “pure trust,” “patriot trust” and “common law trust.” Similar tax exempt claims were made for a “corporation sole” if you obtained a license as a clergyman and for people claiming to be “sovereign citizens.” A decade ago, the IRS, CIA and FBI formed a special joint task force to track down and eliminate what they called “abusive” trusts. The anti-abusive trust campaign put a number of the promoters in jail, many operating offshore in places such as Panama, Costa Rica and Canada. d) Tinker Toy Legal Network Slick promoters will try to sell you a complex series of trusts or a foreign limited liability company (LLC) or international business company (IBC) – or all three. 8 Confronted by such a dubious proposal, you should always seek the impartial opinion of an international tax expert. In fact, U.S. court decisions strictly interpret the obligations of a U.S. person actively involved in an offshore corporation. These cases attribute “constructive ownership” to the involved U.S. person as an individual, or find that actual control exists based on a chain of entities linking the U.S. person to the offshore corporation. For U.S. persons who control shares in an offshore IBC, there are major limitations on U.S. tax benefits that would otherwise be available to a corporation formed in the U.S. That is because the offshore corporation is probably listed on what is known as the IRS “per se” list of foreign corporations, which appears in IRS regulations. The listed corporations are barred from numerous U.S. tax benefits Such scams are offered by some lawyers and “incorporation services” that advise inexperienced clients to set up an IBC, or an offshore trust, and link them to a Nevada or Wyoming corporation as the unlisted owner. This network of legal entities is claimed to provide secrecy, legal insulation and reduce or avoid taxes. Ultimately, it will achieve none of these objectives. Instead, the result may be serious penalties. e) Passport Fraud Beware of passport fraud. It’s worldwide and it can not only cost you huge sums of money, it can land the unwary person in jail. There is a little-known but lucrative underground black market in forged passports. In 2008, U.S. government security agencies uncovered a criminal ring in Thailand that produced counterfeit passports and other travel documents, including hundreds of fake U.S., Malaysian, Singapore, French, Spanish, Belgian, Maltese and Japanese passports sold on the world black market. Even legal passports can go astray. In recent years, thousands of official passports have been stolen or lost in France, Australia, Finland and Belgium. In 2005, the U.K. admitted that in the prior year more than 10,000 British passports were lost, stolen or disappeared. A few years ago, a U.S. State Department official was indicted for fraudulently helping foreigners obtain preferential treatment “green cards.” Ten years ago, had you read the classifieds in the respectable 9 journal, The Economist, you would have seen an advertisement that promised to provide a “European Union passport, fully registered and renewable” for only $19,500. Of course, it was a fraud. Certainly, the most important consideration when evaluating the usefulness of an alternative citizenship and a second passport is that it is legal in every respect. That may seem obvious, but the proliferation of passport fraud operations, especially on the Internet, requires a reminder. In this age of instant communication it takes only hours, certainly no more than a few days, before customs and immigration officials worldwide know when a passport is called into question and, when caught, illegal passport holders go straight to jail. If you are interested in obtaining dual citizenship and the second passport that comes with that enhanced status, you can learn about every aspect of what is required in the latest edition (2011) of my book, The Passport Book. 2. Investment and Other Frauds a) Email Scams Most everyone knows that email is a great convenience – but it can also be a major headache. If you are not careful, one email can cost you thousands of dollars, if not more. Phishing is a word invented to describe attempts to acquire information such as usernames, passwords, credit card and bank details by masquerading as a trustworthy entity in an email. Fake emails pretending to be from popular social websites, auction sites, online payment processors, banks or IT administrators are commonly used to lure the unsuspecting public. Here is the golden rule: Never give out important personal information to anyone that you don’t know well and trust. Make sure that you protect yourself at all times. Remember, the reason that you get so many of these emails is because gullible people fall for them every day. Here are the top five scams now being used this month, according to the Scam Trends website: 1) Your correct tax information is essential: Identity thieves targeted consumers with bogus emails, claiming a W-2 form was not 10 submitted and provided a link to a site for you to input your information. The link directed taxpayers to a malicious site that harvested that information, such as Social Security numbers and addresses, which were later used to hack into bank accounts. 2) USPS Delivery Failure Notification (This is definitely not from the Post Office.) 3) American Airlines: Your order has been completed (Open the zip file and you are caught!) 4) Have you seen what this person is saying about you? (Twitter users targeted with malware). 5) Penalty for The Failure To File Income Tax Returns. For tips on reducing the financial scam, check online Threats of 2012. If you use ways it can be used against odds of becoming a victim of an online for The Top 10 Looming Computer Security technology you must know how to combat the you. b) Gold Scams For years the Sovereign Society has recommend buying gold as part of a balanced portfolio. When we first recommended gold in 1999, it was at less than $300 an ounce. Recently gold hit a record high above $1900 an ounce and predictions are that it will go higher. There are many ways to invest in gold, including bullion, certificates and coins. Most people depend on an investment advisor or company to help them. But you need to make certain the person or company you choose is licensed by your state securities administrator. Be aware that the U.S. Mint’s American Eagle Gold Bullion Coins are the only gold coins guaranteed by the U.S. government in terms of purity, weight, and content. They’re available from precious metal or collectible coin dealers, certain banks, and brokerage houses. If you’re considering investing in gold, do your homework first. Check with the U.S. Mint. The Federal Trade Commission is another useful source for information on protecting yourself against scam artists, who are touting coins and precious metals as safe investments. Andy Hecht, the editor of Trade Hunter, and one of the most sought-after commodity traders in the world, has warned against the media ads for companies offering cash for gold. He says many 11 businesses, including some jewelry stores, now operate like pawn shops. They pay cash up front to buy old jewelry and gold. The problem is that they only pay $380-$400 per ounce for gold, a fraction of the metal’s market value. The same is true for other precious metals. We have all heard the phrase – Buyer beware. c) Nigerian Scams A year or so ago, I was contacted by someone who had seen my Internet writings about passports. This credulous U.S. citizen, hunting the web for a second passport and dual citizenship, made contact with “a woman in Nigeria,” who claimed she could provide (for a substantial fee) an official passport of an unnamed nation. The gentleman was then surprised when, after wiring the fee, no passport arrived, and (Surprise!) the Nigerian lady no longer responded to his e-mails. He turned to me for advice on what he might do. Of course, I couldn’t help him lock the barn door once the proverbial horse had been stolen. I didn’t say so, but I did wonder how anyone could not know about the millions of dollars lost in the notorious Nigerian scams. Just Say “No!” The most famous “Nigerian scam” (also known as “advance fee fraud” and the “419 fraud”) has been around for several years and has bilked many thousands out of countless millions of dollars. I recall talking, over a period of months, with an elderly Sovereign Society member in an effort to convince him that he was a victim of this scam. He was truly convinced by a skillful con man that he stood to gain hundreds of thousands of dollars if he would just send his new, unseen friend a few thousand. I finally talked him out of it, but it took some effort. This type of scam is generally referred to as the “Nigerian scam,” because of its prevalence in the region, particularly during the 1990s. Here, the emailer requests help in the transfer of a substantial sum of money. In return, the sender offers a “commission,” usually several million dollars. The scammers then request that money be sent to pay for some of the costs of the transfer. If money is sent, the 12 scammers either disappear or try to get more money with claims of continued problems with the transfer. This scam is not limited to Nigeria and is used by crooks in many countries. The origins of this scam are debated, some suggest it started in Nigeria during the 1970s; others say its origins go back hundreds of years to other confidence scams such as the late 19th century Spanish prisoner scam, also known as the advance-fee scam All these scammers play on human greed, hoping the commission offered will entice the recipient to risk sending thousands of dollars to a stranger. Official U.S. government warnings about this scam have been issued by the FBI, FTC, the Treasury and, one of the best, by the U.S. State Department African Desk. I urge you to read it. Intelligent Financial Decisions Begin with Your Own Due Diligence “Due diligence” can be defined as, “The care that a prudent person might be expected to exercise in the examination and evaluation of risks affecting a business transaction.” Here at the Sovereign Society, we try to keep you straight on tax and other financial matters. But a good dose of your own common sense is also helpful. The due diligence process should be used to investigate any potential financial matter, including investments, banking and the hiring of professionals. Sadly, this process is too often ignored, usually when an individual’s good judgment is suspended after a slick sales barrage of glittering promises of immediate financial gain. My Eight Rules for Sound Due Diligence: 1) Conduct your own due diligence. Don’t rely on appearances, fancy offices, nice suits and power lunches. You’re seeing what others want you to see and hearing what others want you to hear, and it could be a lie. Always ask for and check references. 2) Do comparison shopping. As a “come on” some promoters charge prices half or even less than those of competitors for similar offshore services. A careful comparison of the competition’s fees and the costs associated with the involved services may suggest that the only way the low-price promoter can survive is to dip into the funds he has under management. 13 Obtain certified financial statements of a company’s assets and liabilities and check the standing with the offshore official regulatory or licensing agency. We can recommend experienced offshore professionals, both in the U.S. and foreign countries, who charge reasonable fees. Please check the end of this report for contact details. 3) Obtain independent advice on any proposed legal structure or investment. Get competent counsel, both in the U.S and the offshore country, who is responsible to you, and only you, with the experience to realistically evaluate the deal. Remember, it’s legal to find ways to avoid certain taxes. Tax evasion, however, is a criminal offence. 4) Ignore tantalizing promises of easy profits. The best opportunities require hard work, significant risk and time. Easy money and promoters like Bernie Madoff, who guarantee unrealistic profits (more than 12%-15% annually, or consistent profits without significant variation in returns), are sure signs of a con. 5) Don’t rely on secrecy. Dealing with an offshore promoter who claims that he can help you “hide money” from tax authorities is an invitation to blackmail. The slick promoter knows that, if you break the law, you’re unlikely to ask a court to help return your assets when they disappear. 6) Diversify. Don’t put all your eggs in one basket. Prudent investors diversify investments in stocks, bonds, mutual funds, currencies, and precious metals. And they employ more than one independent wealth adviser. We can recommend solid wealth managers and reading The Sovereign Investor as the starting point. 7) Keep informed. Hiring a firm in the U.S. or offshore to build a legal structure or manage your wealth is only the start. You’re always responsible for your own wealth. So keep up to date with financial and world events – and keep an eye on those you employ. 8) If it’s too good to be true, it probably isn’t true. Applying this truism is the most important precaution of all. Unrealistic profits, barely believable promises or vague feelings that you’re being “led on” are all indications that whatever deal you’re being “pitched” is best avoided. Tip: You might be surprised what you can find using the Google search engine– but you should always go much farther than that. It may be a well-worn platitude, but it’s the truth: “There’s no such thing as a free lunch.” 14 Contacts If you have questions about investments or possible frauds, these members of the Sovereign Society Council of Experts can help. We also can provide contacts in many foreign countries. JOSH N. BENNETT, JD 440 North Andrews Avenue Fort Lauderdale, Florida 33301 Tel: (954) 779-1661 Email: [email protected] Website: www.joshbennett.com MICHAEL CHATZKY, JD Chatzky & Associates 6540 Lusk Boulevard, Suite C121 San Diego, California 92121 Tel.: (858) 457-1000 Email: [email protected] GIDEON ROTHSCHILD, JD, CPA Partner, Moses & Singer LLP 405 Lexington Avenue, New York, N.Y. 10174 Tel: (212) 554-7806 Email: [email protected] Website: www.mosessinger.com Other Information Sources Offshore Alert newsletter, highly recommended: www.OffshoreAlert.com Offshore Frauds: http://www.quatloos.com/offshore_planning_scam.htm U.S. State Department: Nigerian Fraud: http://www.state.gov/www/regions/africa/naffpub.pdf Internet Scams, Identity Theft, and Urban Legends: http://www.scambusters.org/ 15 Federal Reserve Bank of San Francisco, excellent free report: http://www.frbsf.org/publications/consumer/fraud.html U.S. Postal Inspection Service—Mail Fraud Investigates and enforces over 200 federal statutes related to crimes involving the U.S. Mail, the Postal Service and its employees. You can file an electronic Mail Fraud Complaint. Federal Trade Commission The Federal Trade Commission (FTC) Bureau of Consumer Protection works to prevent fraud, deception, and unfair business practices. Consumer Action Handbook This guide provides helpful tips about preventing identity theft, understanding credit, filing a consumer complaint, and more. Publisher........................................Erika Nolan Editor......................................Bob Bauman JD Managing Editor........................Mark S. Smith Graphic Designer......................... Bruce Borich Bob Bauman’s Offshore Confidential is published 12 times per year for $495 by The Sovereign Society The Freedom Alliance 98 S.E. 6th Avenue, Suite 2 Delray Beach, FL 33483 USA, USA Toll Free Tel: (888) 358-8125 Contact: http://sovereignsociety.com/contact-us Website: www.sovereignsociety.com Copyright ©2012 Sovereign Offshore Services LLC. dba The Sovereign Society ™ All international and domestic rights reserved, protected by copyright laws of the United States and international treaties. No part of this publication may be reproduced in any form, printed or electronic or on the worldwide web, without written permission from the publisher, Sovereign Offshore Services, LLC. 98 SE 6th Ave., Suite 2, Delray Beach, FL 33483. Legal Notice: This work is based on what we’ve learned as financial journalists. It may contain errors and you should not base investment decisions solely on what you read here. It’s your money and your responsibility. 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