The Editor, Sir:

Mr Martin Henry's article on Sunday, June 15, was too kind to the 'foreign exchange schemes' which are supposed to be making these huge returns. Let me warn all and sundry again, these are 'pyramid schemes'.

I have been in the financial field since graduating university in 1973, and worked as a banker, accountant and financial analyst in Jamaica, Canada, the USA and worldwide as my job demanded. Even if one was selling drugs, those returns could only happen if the product was obtained for free.Again I will repeat, why are these guys not on Wall Street, or in London taking in billions and doing their thing, becoming Warren Buffets?

They are frauds

You know why they are not there? They would have to register, and have their books audited every quarter, complete oversight.These guys are frauds, and for churches to tie their fortunes and members to these schemes, to say the least, is unfortunate. As soon as the new money dries up they will collapse as Cash Plus did. Most people do not understand foreign exchange trading. It sounds exotic, and that is the hook because the average person cannot question what is happening.

People and institutions do make and suffer losses trading currencies, but the success being reported is not true. If you do not believe me, ask any of them to show you audited financial statements for their last fiscal year.

I am, etc.,

ROBERT HANSON

gbertwatt@hotmail.com