DreamTeam, former Forex consultant, surrounded by uncertainty

7 dec 2009 Autor: Roxana Pricop

The shareholders of Societatea de Administrare a Investitiilor (Investment Management Company-SAI) DreamTeam have been impossible to contact for several weeks, in the context where the National Securities Commission (CNVM) has suspended the firm's operations and a number of persons state that, as former customers, are unable to recoup their money from another firm in which they were shareholders, DreamTeam Capital Management SRL.

DreamTeam Capital Management SRL, licensed by CNVM in October 2007 to provide investment consulting services (particularly on foreign currency markets - Forex), was set up by Alice Oprea, Eugen Pavel and Dorin Ariton. The firm was subsequently liquidated, in December 2008.

Four months later, the three shareholders opened SAI DreamTeam, whose operations were suspended by CNVM for two weeks in 19 November 2009, and last Thursday extended the suspension decision by another 45 days as the manager's own funds dropped below the authorised level, of 125,000 euros.

According to some previous data, DreamTeam Capital Management SRL in the spring of 2008 had around 100 customers with an average capital of 50,000 euros each. The clients used SaxoTrader trading platform provided by SaxoBank Denmark.

Ziarul Financiar, which previously interviewed the two firms' shareholders, has tried to contact them ever since CNVM's penalty of 19 November, but they have not answered any calls. The www.dream-team.ro website is not operational, either. Meanwhile, information emerged on various websites in which persons declaring themselves former clients state they are unable to recoup their money.

One of these clients, Camelia Covaciu, 30, supposedly lent 96,000 RON to Eugen Pavel and is now unable to reach him.

Eugen Pavel, together with Alice Oprea, is known as one of the promoters of the Forex market in Romania. Alice Oprea, the former general manager of DreamTeam Capital Management, is the main shareholder in SAI DreamTeam, with over 85% of capital.