Teeka Tiwari and Palm Beach Group: Certified Swindlers
Teeka Tiwari of the Palm Beach Research Group is a certified swindler.
Some of his recent accomplishments include being permanently banned by FINRA over allegations of fraud.
A long and sad history (20 years) of working at some of the worst boiler rooms in the United States. Affiliations with the Gambino crime family, as well as numerous brokers that are currently in Federal prison, and runs with a crowd of some of the worst financial swindlers in recorded history.
His company, the Palm Beach Group is currently pushing outrageously fraudulent investments in unregulated securities. These securities are known as private placements and are worse than penny stocks. This is a charlatan of the highest order.
A scoundrel without compare. A phony hedge fund manager that would steal his grandmother’s jewelry.
His goal is simple — to swindle and fleece you of your last penny. Beware.
Thank you for reading today’s review of Palm Beach Group.
What is Palm Beach Group and what are they selling? The company is offering various investment newsletters and investment advisory services. These services range in price from $199 per month, and upwards to $5,000 per year.
The full product offering is as follows:
- The Palm Beach Letter $199 per month.
- Palm Beach Confidential $5,000 per year.
- Palm Beach Trader $3,000 per year.
- Palm Beach Crypto Income Quarterly $3,500 per year.
- Teeka Tiwari’s Alpha Edge $3,000 per year.
- Palm Beach Venture $3,500 per year.
- C.A.P. Cash Flow $3,000 per year.
The Palm Beach Letter
The Palm Beach Letter claims that its owner, Teeka Tiwari focuses on only the safest assets like cryptocurrencies, and unregistered and unregulated securities. Some of these securities include ‘private placement’ investments, investment in gold mines in faraway jungle locations, and cryptocurrencies that are “practically guaranteed to turn $1,000 into $459,400 within only one year.
In fact, Teeka Tiwari claims that he is “the worlds foremost expert on cryptocurrency” and 225,000 people attended his recent “shocking” presentation on ‘becoming a millionaire virtually overnight.’
Additionally, Teeka Tiwari coos “my readers earned 4,600% in 2016 by taking my crypto recommendations!”
Teeka Tiwari recommends this product for retirees “looking to juice their income.”
Palm Beach Confidential
This $5,000 per year product claims that Teeka Tiwari, the self-proclaimed worlds greatest crypto analyst has developed a secret trading strategy called “asymmetric investing.”
Apparently, this secret method allows you to turn ridiculously small amounts of money into life-changing fortunes. Of course, Teeka guarantees that he secretly used this strategy to create the best cryptocurrency portfolio in the world.
In various self-published video’s, Teeka Tiwari waves a piece of paper in the air and screams at the audience, “this is proof that I turned $500 into $1,600,000 in only a single year.”
Of course, nobody can actually see what is on this mystical piece of paper. However, like a knight waving his sword, he waves the paper gallantly and foreswears the document serves as proof.
Palm Beach Trader
The Palm Beach Trader is yet another investment advisory newsletter by Teeka Tiwari and his sidekick Jason Bodner. The cost is $3,000 per year.
According to Jason Bodner, he spent 20 years on Wall Street and developed a secret algorithm that tracks institutions and will return either 7438%, 7037%, or 6946% and that these returns are nearly guaranteed.
Jason Bodner excitedly proclaims, “all you have to do is hitch your wagon to these massive winning stocks and watch them ride higher.”
Palm Beach Crypto Income Quarterly
The Palm Beach Crypto Income Quarterly newsletter costs $3,500 per year and proclaims the following:
“Are you tired of boring dividend-paying stocks?” and “Do you need retirement income now?” Well, Teeka Tiwari has yet another unlicensed and unregistered investment advisory that recommends that you immediately sell your existing dividend producing stocks and immediately purchase his list of recommended cryptocurrencies.
According to Teeka, these cryptocurrencies come with a dividend guarantee that will turn your retirement years into a financial windfall and embarrassment of riches. No more worrying about your retirement! Teeka going to help you retire in style.
Of course, all of these are unregistered securities.
Teeka Tiwari’s Alpha Edge
Do you need the help of a famous hedge fund manager to find the best unregistered and unregulated securities that the world has ever seen? Great news, for only $3,500 per year, Teeka recommends that you immediately liquidate all of your stocks and mutual funds and immediately purchase his “alternative investments” portfolio of unlicensed and unregistered securities.
Teeka hypes, “this is how you play the Wall Street game” by purchasing unlicensed and unregistered securities that “only the secret Wall Street Billionaires know about.”
Apparently, Teeka is highly connected (to Wall Street Billionaires) and is “sick and tired of regular mom and pop investors not enjoying these secret riches.”
The Wall Street billionaires are now very angry because Teeka is unveiling their secret investment techniques to average folk.
C.A.P Cash Flow
Would you like to get rich in real estate? Do you have no experience? Perfect!
According to Teeka Tiwari, you will discover how to purchase multi-million dollar office buildings and mansions for “pennies on the dollar.”
Have no down payment and terrible credit? No problem. Simply use Teeka’s Wall Street method to purchase these properties with nothing more than a signature.
Teeka claims, “Add SEVEN figures of monthly income–every single month!”
Palm Beach Venture
Are you ready to get rich quick with marijuana stocks? Are you tired of investing in boring old stocks that are licensed and registered with the Securities and Exchange Commission?
Well, I have great news. Teeka Tiwari wants you to dump those stodgy old mutual funds, ETF’s, and shitty companies like Apple or Berkshire Hathaway and invest in his limited time only “private placement” of companies that grow marijuana.
These are “companies nobody has ever heard of” and “for a limited time only, you can purchase pre-public stock for literally nothing.” The cost is only $5,000 per year and Teeka’s investment advice is “second to none” and “I practically guarantee that you will become a millionaire.”
The Repeating Theme: Unlicensed and Unregistered Securities (Private Placements)
When viewing each of these products and services, you will notice a repeating theme…over and over again…that you should invest outside of the regulated financial system.
This theme is simple, that you should sell all of your stocks and purchase unlicensed and unregistered securities in something called PRIVATE PLACEMENT INVESTMENTS.
Many readers are probably not familiar with the term private placement investments. They have an odd-sounding name, yet they have the sound of something secretive or mysterious, like that hot girl that only wears black and believes in magical fairies.
In actuality, you should think of private placement investments as one-step below penny stock investments. Of course, penny stocks are the turds of the financial system. They are the stuff of fraud and misfortune. I have written much about how various vendors pump and dump penny stocks to their subscribers for quick and easy profits.
But what I have never written about is the ultra shady underworld of something yet more devious than penny stocks. These are called private placement investments.
Essentially, a private placement investment is a situation where you are simply wiring your money or sending a check to a private party…and hoping for the best. There is no collateralization, no attachment to company assets, no regulatory framework, no audits, the financials are all hypothetical and everything is based upon a wonderful “story.”
These “stories” range from investing in gold mines in third world countries, buying bank debentures from banks that are not actually registered banks, buying promissory notes from private parties, buying phony cryptocurrencies that promise to be the next bitcoin, or buying a “secret oil well” that nobody knows about.
The key thing to remember with “Private Placement” investments is that you have nearly zero legal recourse. You cannot call Finra, the CFTC, or the SEC and complain when your money disappears. The regulators simply won’t have the time, nor care much about your stupidity for investing in anything that they do not regulate.
Pretty much, the only recourse is to simply walk away with nothing. Consumers should not take these words lightly, in fact, CNBC recently published an article titled “Buyer Beware! The top 10 investment scams.” Nestled directly below Ponzi schemes is private placement investments. (Below this are Investment Educators)
In addition, the SEC and Finra have published hundreds upon hundreds of consumer warnings to avoid private placement investment scams. Additionally, the Securities and Exchange Commission and FINRA have also published entertaining videos:
There are two things I like about these videos…
The first is that they portray the “investment advisors” as “All American.” The actors have that certain look. That ‘look’ of being smart and trustworthy. And then the videos quickly transition on how fraudsters with clean looks will use your hard-earned money to buy yachts, sports cars, and unlimited shrimp cocktail.
The second thing I like about these videos is that they refer investors to the Brokercheck.Finra.org website. This is a really handy website for researching people and companies. Example: on the Palm Beach Group website, one of “registered investment advisors” is listed as Grant Wasylik and he claims that he:
- Billion Dollar Wealth Manager
- Worked at Charles Schwab
- Passed the Series 7, 64, and 24.
- Supervised a trading floor.
- Has “at his fingertips, connections to the worlds top financial professionals.”
However, a simple background check on Grant Wasylik reveals that he has never been registered with FINRA in any capacity. It appears to be a ripe fantasy.
Teeka Tiwari: The Finra Background Check
Teeka Tiwari, the self-proclaimed millionaire investment guru is an entirely different story. There is plenty of information available on this serial huckster.
A background check on Teeka Tiwari revealed that he was summarily banned by FINRA and is 100% barred from affiliating with any FINRA registered investment companies. Quite frankly, this is as bad as it gets. According to FINRA, they ban only a handful of registered individuals each year. You have to really, really fuck up.
Lets now take a look at Teeka Tiwari, and let me list the many reasons why investors should avoid this charlatan like a rattlesnake trapped in a port-a-potty. The following is a screengrab of the official FINRA background check…you are looking at his employment history…
Let’s take an extremely brief overview of Teeka’s employment history. The very first thing that jumps off the page is the ‘FINRA BARRED.’ But why was he barred? Let’s look closer.
Teeka Tiwari’s most recent employment was with a company named McGinn, Smith, and Company. A search of this company reveals that the owners of McGinn, Smith, and Company are currently sitting in a Federal Prison. The owners were sentenced to 10, and 15 years.
A review of Finra.Org records, the company had the primary goal of convincing investors to liquidate their stock portfolios and then convince investors to purchase “private placements” that they ultimately controlled.
Does this sound familiar? This is the very reason why Teeka Tiwari was banished, for converting accounts into private placement investments.
Teeka Tiwari: employment at JP Turner and Company
Prior to working at McGinn And Smith, our favorite private placement specialist Teeka Tiwari worked at a company named JP Turner and Company.
An investigation of JP Turner and Company reveals nearly the exact same situation as McGinn And Smith company. The company, before being shuttered had an incredible 9000 investor violations and was fined by FINRA on hundreds of occasions. Additionally, there are dozens of arbitration claims totally over $1,000,000, dozens of lawsuits in Federal and State courts in the hundreds of millions of dollars, and innumerable State securities violations.
A read of their violations is truly sickening. In one violation, they charged 60 customers $445,000 in commissions to buy and sell mutual funds. This is called churning and burning. The victims were all elderly with nearly all living in retirement homes in Florida. The company was fined $707k for this violation alone.
There are hundreds of complaints from elderly person’s that also claimed fraud. Most were convinced into selling their stock portfolios and then subsequently enticed into yet more “private placement” investments. The company was charged with fraud, money laundering, and embezzlement. Dozens of states also banned the company from using their ultra-aggressive boiler room operations from operating in their states.
Another disgusting incident was described by SEC investigators that attempted to execute a subpoena of the trading records of 5000 elderly clients. The company refused to release records and the SEC was forced to physically take possession of the boiler room. The records were not found.
However, a few days later, the Securities and Exchange Commission discovered that the records had been dumped in the parking lot of a Florida Home Depot. Hundreds of these victims not only lost their money but also suffered the additional indignity of having their personal identifications stolen and used by fraudsters over the internet.
Apparently, this “brokerage” also sold the client files (which included social security numbers) to various parties that specialized in opening credit accounts from stolen ID’s.
A History Of Fraud
Thus far, I have only talked about two of the companies that Teeka Tiwari has worked.
However, if you continue to search each and every company that Teeka Tiwari has worked, you will discover the same pattern reveal itself. Each company was shuttered for fraud. Each company has suffered nearly innumerable violations on both the state and federal regulators. Investors have been destroyed and stripped of their assets.
The common thread is converting client funds into “Private Placement”investments. The money soon disappears, then the employees move to the next boiler room.
Euro Pacific Securities: The Worst Of The Worst
Of all of the boiler rooms and bucket shops in which Teeka Tiwari has worked, the worst has to be a company named Euro Pacific Securities.
This brokerage has pretty much defined the modern era of stock fraud. The company was under the control of the Gambino crime family and they scammed thousands of investors by convincing them to invest in worthless penny stocks. There have been many books written and movies made about this infamous boiler room operation.
Teeka Tiwari also worked at NorthEast Securities, this place was so riddled with fraud that they even made a move about it. Dozens of people were convicted of fraud.
Teeka Tiwari worked at LloydWebb Securities, another fraud riddled company where the owner was convicted of fraud and sent to prison.
The list goes on and on. The underlying theme is that Teeka Tiwari works at these fraud filled financial firms for a few months, and then the FBI starts putting people in handcuffs. Yet Tika Tiwari seems to always slip out with a slap on the wrist. It’s like he is the one dude that the firing squad keeps missing.
Wrapping Things Up
I wanted to thank Pat Huddleston for the helpful insight on this article. He is “one of the good guys.”
In 2011, Pat published a book titled “The Vigilant Investor” where he describes some of the craziest scams you can imagine. His writing style is engaging and colorful. I couldn’t put the book down.
Yes, you should buy it. It costs $5.99 and … I earn 9 cents in affiliate commissions from Amazon.
Thanks for reading. And don’t forget to leave a comment below.