Martin A. Armstrong, the founder, chairman, and owner of Princeton Economics International Ltd ("Princeton Economics"), an unregistered investment adviser, appeals from the decision of an administrative law judge. The law judge barred Armstrong from association with any investment adviser based on Armstrong's conviction on a single count of conspiracy to commit securities fraud, wire fraud, and commodities fraud and his injunction from violation of antifraud provisions of the federal securities laws. We base our findings on an independent review of the record, except with respect to those findings not challenged on appeal.
On August 17, 2006, Armstrong, then fifty-six years old, pled guilty to one count of conspiracy to commit securities fraud, wire fraud, and commodities fraud. 1 The district court sentenced Armstrong to sixty months' imprisonment and three years supervised release, and ordered him to pay $80,000,001 in restitution to sixty defrauded customers.2 As part of his guilty plea, Armstrong entered a sworn allocution admitting to and describing his crime. In his allocution, Armstrong admitted that between 1992 and 1999, he sold promissory notes issued by Princeton Economics subsidiaries ("Princeton Notes") to investors, mostly Japanese corporations. Armstrong, through his agents, represented to the investors that the proceeds from the sale of the Princeton Notes would be held in accounts at Republic New York Securities ("Republic") and that those accounts "would be separate and segregated from Republic's own accounts and would not be available to Republic for its own benefit."
According to Armstrong's allocution, after he suffered "some millions of dollars of trading losses," he decided "not to disclose to investors that . . . substantial losses had been experienced in this trading of futures. And we did not disclose it." Armstrong also admitted that his concealment of his losses went beyond non-disclosure: "letters were sent by my company to investors concerning how much money was in fact in the accounts assigned to them. I . . . did send out those letters, even though . . . I knew the amounts in the accounts were less than the letters stated."
https://www.sec.gov/files/litigation/opinions/2009/ia-2926.pdf
Martin Armstrong’s Socrates computer is world known for its forecasts. You can post your drivel about his past legal problems but you can never take away from his legendary forecasts.
The second movie about Martin Armstrong’s Socrates computer is to be released by the end of summer. I will send you the link to his second movie when it is released.