Wonder how they fogot to mention in EL-BATRAWL's profile that "International Futures Brokerage Company" was expelled from NFA for running a fraudulent infomercial?
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nfa.futures.org
NFA expels International Futures Brokerage Company and fines its principal
January 26, Chicago - National Futures Association expelled International Futures Brokerage Company and fined Robert J. Pelaez $75,000 after a hearing. NFA also barred Pelaez from association with and from acting as a principal of any NFA Member for a period of three years. IFBC is an introducing broker (IB) Member of NFA located in Studio City, California. Pelaez is a former principal of IFBC. Pelaez and IFBC submitted an Answer to the Complaint issued against them, denying the material allegations.
A designated Panel of NFA's Hearing Committee found that IFBC and Pelaez failed to observe high standards of commercial honor and just and equitable principles of trade by entering into a conspiracy to open accounts and generate futures business based on a misleading infomercial.
IFBC filed a Notice of Appeal of the Hearing Panel's Decision.
NFA is a congressionally authorized self-regulatory organization for the U.S. futures industry.
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Mr. El-Batrawi is the principal stockholder and chief executive officer of GenesisIntermedia.com, Inc. He has been a director and chairman of the board of GenesisIntermedia.com, Inc. since its inception in October 1993. Mr. El-Batrawi’s prior experience had included international business marketing where he facilitated and negotiated significant transactions between global industrial companies and world governments. Firms with which he has been involved include Lockheed Corporation, Carnival Cruise Lines, Inc., McDonalds Corporation and Eastern Airlines.
Additionally, he is the sole shareholder, President and Chairman of the Board of Directors of several other companies, including International Futures Brokerage Company, Mars & Venus Counseling Centers, Inc., Genesis Aviation, Inc., Genesis Aviation II, Inc., Genesis Diversified Investments, Inc., Sentient, Inc. and Trade Your Way To Riches, Inc.
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George L. Pelaez (Registered Representative, Tampa, Florida) and Robert J. Pelaez
(Registered Principal, Tampa, Florida) were fined $80,000, jointly and severally, and
barred from association with any NASD member in any capacity. The NBCC imposed
the sanctions following review of an Atlanta DBCC decision. The sanctions were based
on findings that a member firm, acting through the Pelaezes, submitted materially
inaccurate FOCUS Part I and IIA reports and prepared inaccurate general ledger, trial
balance, and net capital computations. In addition, the firm, acting through the Pelaezes,
conducted a securities business while failing to maintain its minimum required net
capital. Furthermore, after being asked by the NASD to provide documentation
substantiating the addition to their firm's capital as reflected on a FOCUS report, the
Pelaezes submitted two forged documents.
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Florida Profit
INTERNATIONAL FUTURES BROKERAGE COMPANY
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PRINCIPAL ADDRESS
501 S. DAKOTA AVENUE, STE B-2
TAMPA FL 33606-2501
Changed 05/18/1998
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MAILING ADDRESS
501 S. DAKOTA AVENUE, STE B-2
TAMPA FL 33606-2501
Changed 05/18/1998
Document Number
P96000016073 FEI Number
593361864 Date Filed
02/19/1996
State
FL Status
ACTIVE Effective Date
NONE
Last Event
REINSTATEMENT Event Date Filed
05/23/2000 Event Effective Date
NONE
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Registered Agent
Name & Address
EL-BATRAWI, RAMY
501 S. DAKOTA AVENUE, STE B-2
TAMPA FL 33606-2501
Name Changed: 05/18/1998
Address Changed: 05/18/1998
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Officer/Director Detail Name & Address Title
EL-BATRAWL, RAMY
501 S. DAKOTA AVENUE, STE B-2
TAMPA FL 33606-2501 D
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Annual Reports Report Year Filed Date Intangible Tax
1999 05/23/2000
2000 05/23/2000
2001 05/16/2001
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