Watch out Neil King!

Govt to raise fines, jail time for corporate crooks

Peter Ryan reported this story on Thursday, January 28, 2010

ELEANOR HALL: The Federal Government is about to hand Australia's corporate regulator sweeping new powers to investigate and prosecute white collar crime.

Laws to be introduced later this year will allow steeper financial penalties and longer prison terms to be imposed on corporate criminals.

And for the first time, ASIC will be able to use telecommunications intercepts from the Federal Police to obtain direct evidence of insider trading.

I'm joined in the studio now by our business editor Peter Ryan.

ELEANOR HALL: So Peter, ASIC has had a string of high profile failures in the prosecution of corporate crime lately. Will these new laws give the corporate watchdog real teeth?

PETER RYAN: Well Eleanor, once the amendments to the Corporation Act become law, ASIC will certainly have more teeth and much greater deterrence, particularly in the area of insider trading.

For example, under the proposals, financial penalties for individuals will increase to $500,000 or three times the profit made or the loss avoided. At the moment the maximum is just $22,000 or $220,000 in the case of insider trading.

Now for corporations the new penalties will be the greater of $5 million or three times the profit made or avoided or, importantly, it could be 10 per cent of a company's turnover during the period of the breach in question.

The current maximum penalty for companies is just $1 million, so that's up to $5 million.

There will also be steeper jail terms for corporate criminals, up from a maximum of five to 10 years and that brings ASIC's powers into line with other regulators around the world.

The Minister for Corporate Law, Chris Bowen, that will have potential perpetrators thinking twice before they manipulate the market.

CHRIS BOWEN: Ten years is a very significant penalty. It would certainly concentrate the mind of those considering undertaking this crime.

Importantly, one of the penalties we're introducing is three times the profit made or loss avoided. So clearly, if you are contemplating making money out of this sort of criminal activity, you've got to bear in mind that you might lose three times that amount as well as going to prison if you're detected.

PETER RYAN: Do these tough new laws provide recognition that the current situation is just not workable and has not been enough of a deterrent?

CHRIS BOWEN: Well, I think frankly it does. I do think that there have been issues in insider trading. If you look at the number of referrals from the Australian Securities Exchange to ASIC while a small proportion of the total number of trades each day they are nevertheless a significant number of referrals.

Also ASIC have pointed out to me, and a number of market commentators have pointed out that you can regularly see increases in the share price of certain companies before market-sensitive announcements are publicly made. That indicates that there is an issue to be addressed and these reforms we've announced today are designed to address that issue.

PETER RYAN: Do you believe this will be sending a chill down corporate board rooms around the country?

CHRIS BOWEN: Well only for those people who are doing something wrong. The vast majority of directors, executives, investors and shareholders do nothing wrong and not only have nothing to fear but I'm sure will welcome these reforms because people who engage in insider trading profit at the expense of those who do not have that information.

So I think the vast majority of people engaged in corporate life in Australia would look at these reforms and say, "Well this is fair because we're not doing anything wrong and those who are doing the wrong thing deserve to be punished very severely".

ELEANOR HALL: That's the Minister for Corporate Law, Chris Bowen, speaking to Peter Ryan.

Now, Peter, ASIC is to get access to Federal Police phone taps. That's quite a radical move, isn't it? How will it work?

PETER RYAN: Well, yes, the Telecommunications Act of 1979 limits the way interception can be used for investigations or prosecutions. At the moment an intercept can only be done by an agency such as the Federal Police in relation to what they regard as a serious offence.

Now under these proposals a serious offence will now include market misconduct and insider trading offences being pursued by ASIC. So once the law is changed, ASIC will be able to get a court order to work with the Federal Police to get direct evidence, such as conversations, rather than relying on circumstantial evidence as they do at the moment.

Is Neil King hiding behind a new frontman? Richard Nicholson?

It seems Neil King is becoming ashamed of his actions & recently has employed someone else to write his articles for him, Richard Nicholson, if that's his real name anyway!

Knowing Neil King's more than questionable character it also could be him just using a made up name, so he can continue with his lies and deceit to steal even more money from unaware trusting individuals. Or maybe he is a new naive employee that actually believes his lies. After all, apart from the commission Neil King's slippery salesman get, only Neil King really profits from clients losing their entire accounts in a few months.

Neil King has broken the law on many occassions and has shown utter contempt for the laws in this country. I reckon he really thinks he is a 'King' and expects everyone to 'Neil' to him, (well maybe the young boys he employs).

Once again if you see a story about Options Trading with this Neil King or by someone on behalf of Camelot Derivatives, assume it's written by someone like Bernie Madoff or some comedian as none of it is even remotely close to the truth!

Who will be this year's Melbourne Cup winner??

Well that is a question that will have gamblers trying to figure out, as they know they are gambling anyway.

Former clients of Neil King & Camelot Derivatives would have been better off mortgaging the house & putting it all on the favourite for a straight out win! At least they would know the risks involved & probably get better returns than anyone would than the chronic liar and the obviously clueless about the markets Neil King.

Neil King has the ability to hide behind a snooty arrogant persona, his Licence (in which most people can get over the net in 2 weeks!), and his false claims about his past experience. I have met & spoken to people who have dealt with him in the past and they all where surprised that this guy is actually now asking people to'invest' with him, as he had NO CLUE in his previous positions.

Is sole motive is to churn contracts so he can maximise his ridiculous commissions. We discovered from a former associate that Neil King would walk into the office on any day and announce that "We are rolling all contracts today". He would decide this obviously regardless what the market was doing. He would sit there with a calculator and work out how much commission he would get by rolling, and many times it would be in the tens of thousands in one roll!

Beware of this crook at all costs, do not believe a word he says! He has lost clients account of hundreds of thousands of dollars in a matter of months!!!

Is that the performance of a so called professional?

Dodgy Neil King will be at Sydney's Trading & Investing Seminars & Expo trying again to lure more suckers!

Neil King will be attending the Expo this year desperate for more victims to 'drain their blood'. From people who have attended his rather boring but woefully inaccurate seminars, it's obvious this little maggot is very uncomfortable in the public eye. From the colour of his face which changes from pink to red, and even purple if you ask questions!, to the sweat running down his fat grotesque face and many chins. Maybe because he knows he is lying through his teeth. If you hooked him up to a lie detector it would blow up!

Don't you dare ask him about losses or why he hasn't got any real testimonials, except for the dribble that comes out of his mouth. His favourite outright lie is he makes claims of return of around 120% -130%!!!! in October last year!. The fact that he uses October 2008, which by the way was one of the biggest falls in the markets world wide since the Great Depression, to make his absurd claims is further proof of his utter contempt to his former, current and potential clients.

Especially bizarre is when we have actually personally spoken to people who have LOST all of their money and more through margin calls in this MONTH ALONE!!!

So if you are attending the Expo, make him accountable of the things his says and then you will see his true character.

Oh by the way, beware of the other snakey salesmen he has, James Titlow (yes you read that right! his accent & mannerisms remind you of a London gangster) and the (slave boy learning to be a thief) Michael Lauterstein.

Rollin' Rollin' Rollin'..the only strategy that Neil Kings knows!

Click here to see a video of Neil King's favourite strategy!

The only strategy that Neil King apparently knows is when to decide to roll, out of the blue, just so he can pocket tens of thousands of dollars in commissions per roll! Regardless of that in fact his clients lose thousands in the roll.

He obviously knows nothing of the markets as he clearly doesn't make any money on the trades, but rather the rolling and transaction costs of the trades themselves.

So much for his 18 years experience! What a criminal he is.

There are people serving time today who have done less than this poor excuse for a fat maggot!

Jordan Belfort "Wolf of Wall Street" is an angel compared to Neil King,"Maggot of Melbourne"

"Over the last twenty years, Jordan Belfort has soared to the highest financial heights, earning over $50 million a year as the notorious Wolf of Wall Street—and then sunk to the lowest societal-lows, succumbing to a massive drug addiction and doing twenty-two months in a Federal prison camp, for stock-fraud. Yet, along the way, he managed to provide over $1billion of financing for various public companies, and held controlling stakes in more than thirty of them. He’s acted as a consultant to more than fifty public companies, and has been written about in virtually every major newspaper and magazine in the world, including The New York Times, The Wall Street Journal, The Los Angeles Times, The London Times, The Herald Tribune, Le Monde, Corriere della Serra, Forbes, BusinessWeek, Paris Match and Rolling Stone.

Today, his life represents the ultimate redemption story. After barely surviving his rise and fall as an American Entrepreneurial Icon, he is now twelve-years-sober and a world-renowned motivational speaker, who assists both people and organizations in breaking through whatever barriers hold them back from achieving success. Whether speaking to a roomful of hard-charging salesman or to a jam-packed convention center filled with “everyday people,” Belfort’s teachings captivate and inspire his audience, and provide them with all the necessary tools to create instant, measureable, and lasting success."

At least he got caught and realised his wrong doings. He is trying to right his wrongs which is more than we can say about the "Maggot of Melbourne", Neil King.

Camelot Derivatives' .com Website Not Active!

Well well, things must be heating up for our little worm friend as his original .com site is no longer active. Probably planning to do a runner! He is just running with the .com.au site.

How funny! Don't you just love the power of the internet and people exercising their right to free speech and justice.

What did he expect that his years of lies & deception wouldn't catch up with him? Juts proves how much of a fool he is.

I hope he's lost alot of sleep seeing karma in action! Maybe a heart attack is on the cards for him? Or a debilitating stroke! He is fat enough to be a prime candidate!

Every dog has his day and Neil Kings' is coming soon!