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ACCREDITED and APPROVED by the following State Bars
California
Florida
Georgia
Missouri
New York
Pennsylvania
ACCREDITED and APPROVED by the Association of Certified
Fraudulent Examiners for its members.
Approval by other state Bars pending.
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INVESTMENT EVALUATIVE SERVICES CORPORATION
IS NOW OFFERING
A STUDY OF BANK INSTRUMENTS
IN LEGITIMATE AND FRAUDULENT
APPLICATIONS
This course has been presented as a seminar/symposium interactive study
WORLDWIDE, and has now been ACCREDITED by The
California, Florida, Georgia, Missouri, New York, Pennsylvania
State Bars for 5.5 CLER Credits. It is also
approved and accredited by the Association of Certified Fraudulent
Examiners for its members. Approval is pending by other state
bars.
A Study of Bank Instruments in Legitimate and Fraudulent
Applications is a course of study that has been designed to satisfy
the needs and requirements of those at the beginning, intermediate and
advanced levels having a moderate knowledge and understanding of bank
instruments. It is presented in two sections.
First Section
At the beginning level the basic concepts, mechanics and functionality
and applications of letters of credit and bank guarantees are introduced.
The International Chamber of Commerce (ICC) publications, as rules, in
contradistinction to the Uniform Commercial Code (UCC), as law, are
compared.
The intermediate level fully develops and distinguishes between
documentary and standby letters of credit, the primary and secondary roles
of the account party and beneficiary, and discusses the differences
amongst issuing, advising and confirming banks and their respective roles
and responsibilities. The emergence of the standby letter of credit and
the necessary and compelling reasons why it evolved, albeit with its
restrictions, descriptive classification and its versatility, is discussed
in detail. The influence and applications of the Independence Rule and the
Strict Compliance Rule, to both documentary and standby credits, is fully
developed.
The advanced level, although involved and far ranging, is presented in
two sections. The first section is developmental in that it incorporates
the materials assimilated at the beginning and intermediate levels and
attention is devoted to manipulation of bank instruments inside the
banking system. Fraud in the documents and fraud in the transaction is
introduced and examples are given demonstrating when and how the
Independence Rule is challenged. The UCC's New York Rule (Official
Comments Article 5-116) when compared with the UCP 500 Articles 3 and 4 is
addressed, and when the New York Rule prevails.
The First Section contains the following audio-visuals:
- Audiotapes (total running time: 281 minutes)
- Transcript of the audio tapes
Audiotapes - written on each side of the cassette casing insert is:
- The tape counter number indicating the beginning of each page
of the transcript being discussed.
- The first word or phrases appearing at the top of page being
discussed.
- The page number and the timing of that page. The number of
each page is recited on the tape, as well. These are give so the
listener can refer to that page while listening to the tape.
It also has a Master Sheet of 75 questions and their answers that
are based on the materials covered on the audiotape.
Transcript of Audiotape - this is a verbatim rendition of the
audiotapes. It can be followed while listening to the tapes as a
reference, such as, specific references to excerpts of the International
Chamber of Commerce publications, the Uniform Commercial Code, the
Glossary of Terms and to specific citations of challenges to the
Independence Rule, Strict Compliance Rule and the Sztejn Ruling.
Second Section
The second section is divided into two parts and addresses the concepts
of fraud and deception perpetrated outside the bank by fraudsters. The
first part is devoted to "Prime Bank Notes" or "Prime Bank Instruments"
and these are broken down into the discussion and definitions of standby
letters of credit, bank guarantees, bank debentures, cashier's checks and
Medium Term Notes (MTN's). The second part is the introduction of the
two-volume publication, "Inside the World of Investment Fraud, Scams and
Deceptive Practices" and "Mastering the World of Investment Fraud, Scams
and Deceptive Practices". These books are a tutorial, a didactic approach
to understanding fraud, scams and deception in investment offers. Both
books are cross-referenced with editor's notes in the margins explaining
why certain terms and phrases are questionable or clearly fraudulent. They
are included in this course of study as the seminar A Study of Bank
Instruments in Legitimate and Fraudulent Applications is, in reality, a
prequel to this set.
Following is an outline to the organization to these books.
The second section is divided into two parts and addresses the concepts
of fraud and deception perpetrated outside the bank by fraudsters. The
first part is devoted to "Prime Bank Notes" or "Prime Bank Instruments"
and these are broken down into the discussion and definitions of standby
letters of credit, bank guarantees, bank debentures, cashier's checks and
Medium Term Notes (MTN's). The second part is the introduction of the
two-volume publication, "Inside the
World of Investment Fraud, Scams and Deceptive Practices" and "Mastering the
World of Investment Fraud, Scams and Deceptive Practices". These
books are a tutorial, a didactic approach to understanding fraud, scams
and deception in investment offers. Both books are cross-referenced with
editor's notes in the margins explaining why certain terms and phrases are
questionable or clearly fraudulent. They are included in this course of
study as the seminar A Study of Bank Instruments in Legitimate and
Fraudulent Applications is, in reality, a prequel to this set.
Following is an outline to the organization to these books.
BOOK ONE:
Citations: These are words, phrases, deceptive terms, conditions and
procedures used individually and in combination by fraudsters.
Media
Reports: These articles address the issues of prime bank notes,
debentures, bank guarantees, high yield investments and roll
programs.
Litigations: More than thirty actual litigations are included
as proof-positive that such fraudulent activities not only exist but are
prevalent.
Where to report fraud and scams: The names addresses and
contact phone numbers of numerous agencies and where to report suspicious
investment offers of individuals who are promoting them.
Glossary of
Terms: These are terms not only relevant to these companion volumes but
also those terms that will be found in legitimate investment offers as
well.
Abbreviations and acronyms used here are common ones that are
found in similar studies and in relevant literature.
BOOK TWO:
Four Practicums: These are actual fraudulent investment proposals.
Practicums One, Two and Three: The reader is guided with Editor's Notes
that appear in the margin. These notes cross reference both books and
indicate clearly why certain statements in the investment proposal are
suspect or outright bogus.
Practicum Four: The reader is on his own. Here he is to refer to Book
One and rely on the experience he gained from Practicums One, Two and
Three.
Following the Four Practicums is a set of fifteen questions that have
been framed and derived from previous readings. Text references to the
sources of these questions appear after each question as well as the
author's responses and where you could find the answer references to the
questions.
This section is followed by four serious yet revealing and entertaining
articles about fraud that took place inside banks. One shudders to think
that fraud of this magnitude can actually take place inside our banking
system today.
Although the seminar A Study of Bank Instruments in Legitimate and
Fraudulent Applications is an independent course from the two-volume set
the two are inter-related. The understanding of the latter is enhanced for
those having been exposed to the seminar.
The interactive seminar/symposium utilizes "Inside the World of
Investment Fraud, Scams and Deceptive Practices" and "Mastering the World
of Investment Fraud, Scams and Deceptive Practices" as its core
and basis. When these two books have been used in "live" seminars in the
past, a minimum of four hours has been required for its presentation, the
discussing and analyzing of the four Practicums and addressing the fifteen
questions and answers that appear at the back of volume two. On many
occasions with energetically enthusiastic interactive groups the
seminar/symposiums have extended into sessions in excess of two additional
hours.
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| Seminar Attendees Write: |
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Dear Dr. Boccagna:
Your Seminar/Symposium which was presented last week
at the Boca Raton Beach Club, Boca Raton, Florida was all that you
said it would be: instructive, enlightening and even entertaining
with the stories you added to elucidate certain points.
We eagerly await the publication of your two volumes
on fraud, which as we understand is imminent.
Please let us know when they will be available and if
you will offer seminars centered around them.
THE RADCLIFFE COMPANY
Patricia M.
Ventabuono
President
* * *
Dear Dr. Boccagna:
Your recent seminar held at the Sheraton Hotel in Boca
Raton, Florida was most informative.
I must admit I was most apprehensive about attending
your seminar. I thought to my self, "What could be more boring and
uninteresting than a "lecture" on banking instruments and fraud"?
Well, my associates and I were pleasantly surprised and impressed
with the professional approach you and your colleagues used in your
presentation.
When the seminar was over we actually were eager to
learn more.
Thank you for this rewarding experience. Your seminar
was not only educational but somewhat entertaining with the
anecdotal stories you added.
EUROPEAN FINANCE CORPORATION
Wolfgang M.
Kessner
President
* * *
Dear Mr. Boccagna:
The consensus of opinions from our delegation that
attended your recent lectures in Nassau, Bahamas ranged from very
good to outstanding, with little deviation in between.
You and your facilitators had excellent command of the
subject matter as well as well honed skills as lecturers.
It was indeed a pleasure and honour to have attended
such well-devised presentations.
We have instructed Mr. Vincent DelGado to discuss with
you and your colleague, Dr. Jorge Maso', the plausibility of having
your lecture available in the Spanish language for our associates in
South Miami.
Please keep us informed of your progress with Mr.
DelGado.
FIRST REPUBLIC HOLDING COMPANY
Thomas P.
Libre
Managing Director
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