You should never trust anybody with your hard-earned money. PERIOD. What I\u2019m specifically referring to is any entity that says they need control over your assets in order to protect them. This causes more problems for people than anything else. There\u2019s a point to what I\u2019m saying. It\u2019s not because people are dishonest, it\u2019s just that it is not necessary to HAVE to trust someone.<\/p>\n

Many people, often with the advice of \u201cexperts,\u201d simply put their funds into trust with a foreign trust company and think that they are protected. I think that this is foolish. It is almost never necessary to delegate control over your money to another person or entity, and certainly not when a plan is first implemented.<\/p>\n

Each year, hundreds of millions of dollars are lost to unscrupulous trust companies that simply walk away with your money. You have no alternative. Take these words to heart: Never delegate control of your money to anybody. Keep control and you cannot be cheated. And yes people are swindled all the time. Here\u2019s an example of just such a swindler.<\/p>\n

Founder and CEO of The Harris Organization financial services group of Panama, which operates banks, insurance companies and a trust company and offers stock brokering, in-house mutual funds and other money management services – all without a single license! In March 1998, Offshore Alert published an article accusing The Harris Organization of being insolvent, stealing clients\u2019 funds, operating a Ponzi scheme and money laundering.<\/p>\n

The Harris Organization sued for libel at Federal Court in Miami and after a bench trial in July 1999, then appealed and that too. Harris did not testify at the trial, his attorney, Ohio-based AC Strip, told the court that two Harris officers had been served with SEC subpoenas during the trial and that Harris was \u2018\u2018concerned\u2019\u2019 about what might happen to him should he travel to the US. Harris not only refuses to honor made by his but he also generally refuses to take their irate telephone calls or see them when they turn up in Panama to demand the return of their money.<\/p>\n

Harris\u2019 specialty is to fly easily impressed Americans to Panama, have them whisked through customs and transported in a chauffeur- driven Jaguar to Downtown Panama City, where they are wined and dined and parted from their money.<\/p>\n

He doesn\u2019t tell them that his CPA license was suspended in Florida in 1990 for incompetence and negligence after he audited a Florida- based mutual fund without disclosing in the notes to the financial statements that he also owned and ran it, according to a complaint. Additionally, the sum of the individual assets did not equal the number given for total assets, there was insufficient information on investments in operating affiliates and there was an absence of information on the aggregate cost and market value of marketable securities held by the company.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t