# Larry Williams arrested in Sydney



## phoenixrising (23 May 2006)

Arriving in Sydney for seminars he was arrested for US$1.5 million tax evasion charges. He has alledgedly created false documents and multiple bank accounts.

Didn't know he is the father of Michelle Williams, the fiance of Heath Ledger.

Let's hope this all works out ok.

Story on dailytelegaphonline, can someone post it, thanks.


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## macca (23 May 2006)

*Re: Larry Willams arrested in Sydney*

I was reading the Tele today and on the front page is a lead, Heath Ledgers future father in law arrested blah blah........... I thought who gives a rats *

On the next page it said Larry Williams and I burst out laughing, "only in Oz".

I would think more people would be fans of Larry Williams than Heath Ledger .

I suppose the arrest will be international news, but not because of Heath Ledger.


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## phoenixrising (23 May 2006)

Macca, certainly on this forum at least.

The promoter has posted bail (Adest) he can do Sydney seminars.
Brisbane, Melbourne, NZ cancelled.

Was thinking of going to a 2 hr frebee night (only) to pick up a few pointers.

Anyone had any LW experiences? (trading I mean)


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## Seaking (23 May 2006)

http://www.thecouriermail.news.com.au/story/0,20797,19235116-5003402,00.html 

Our gutless justice system has done it again. They let murderers, rapists, thugs and all manner of gutter scum out into the world with little or no punishment, but this bloke is hit with a $1M bail and is told that he is lucky to be given that condition... What utter crap... I really don't understand... :swear:


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## kr1zh (24 May 2006)

*Larry Williams is arrested*

Celebrity market guru arrested

May 22, 2006 - 5:24PM


An American futures trading guru and promotional speaker who promises to show people how to "beat the share market'' has been arrested in Sydney for alleged tax evasion.

Larry Richard Williams, 64, had just arrived on a Qantas flight from South Africa on Saturday when he was escorted from Sydney Airport by Australian Federal Police.

The US Internal Revenue Service is seeking his extradition for $US1.5 million ($A1.99 million) in alleged tax evasion between  1999 and 2001.

The Virgin Islands resident is alleged to have "wilfully and affirmatively'' attempted to evade paying taxes on royalties from his 10 books and earnings from the international speaking circuit.

Williams, who has twice run for the US Senate in the state of Montana, boasts he is "the only futures trader in the world to repeatedly trade $1 million of his own money live at seminars around the globe''.

He has written 10 books - nine on futures and stock trading and one on the true whereabouts of Mount Sinai.


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## TheAnalyst (24 May 2006)

Notice the timing of the arrest......some really low intellectually capable copper really wanted to not just arrest him but embarrass him and defame him as well.....so they did it at the airport......they could have just contacted his solicitor and handled it from there....what a joke......


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## visual (24 May 2006)

Honestly guys,I dont know who this guru is,apart from the fact he is Heath(cry me a bucket)fatherinlaw,but why would you want him arrested discretely
Now if the people who follow his methods loose their shirts they will have no one to blame but themselves.Tax evansion re:the tax on the books earning is probably the tip of the iceberg.If he is not guilty do you honestly think its going to make a jot of difference to his fame it will probably enhance it.And he will write another book on it whatever happens.


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## professor_frink (24 May 2006)

visual said:
			
		

> Honestly guys,I dont know who this guru is,apart from the fact he is Heath(cry me a bucket)fatherinlaw,but why would you want him arrested discretely
> Now if the people who follow his methods loose their shirts they will have no one to blame but themselves.Tax evansion re:the tax on the books earning is probably the tip of the iceberg.If he is not guilty do you honestly think its going to make a jot of difference to his fame it will probably enhance it.And he will write another book on it whatever happens.




Larry williams is actually pretty famous visual. He's one of the best known futures traders on the planet. In the robbins world cup trading contest he turned a $10 000 stake into over a million in 12 months. He's developed technical indicators like the williams %R, and has published 9 or 10 books on trading


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## wayneL (24 May 2006)

Larry's one of the more fair dinkum educators around. And one who does actually trade. Trading his own money live in front of an audience scores brownie points from me.

I don't follow his stuff, but most who do, hold him in high regard.



> Our gutless justice system has done it again. They let murderers, rapists, thugs and all manner of gutter scum out into the world with little or no punishment, but this bloke is hit with a $1M bail and is told that he is lucky to be given that condition... What utter crap... I really don't understand...




Could not agree more... Ludicrous!


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## tech/a (24 May 2006)

> The US Internal Revenue Service is seeking his extradition for $US1.5 million ($A1.99 million) in alleged tax evasion between 1999 and 2001




*So hes doing well then!*


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## wayneL (24 May 2006)

tech/a said:
			
		

> *So hes doing well then!*




Interesting, in that there is a movement afoot in the US that says there is no law that authorizes the federal government to levy income taxes. 

http://www.supremelaw.org/sls/31answers.htm


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## scritcha (25 May 2006)

Interesting!!!! 
Different people, different perspective.
Never heard of the dude untill I came accross this from Neil Jenman

http://www.jenman.com.au/NewsArticles1.php?id=186

Some here appear to have a different opinion


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## TheAnalyst (25 May 2006)

scritcha said:
			
		

> Interesting!!!!
> Different people, different perspective.
> Never heard of the dude untill I came accross this from Neil Jenman
> 
> ...




A bit harsh i think


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## tech/a (25 May 2006)

Jenman has an agenda as well.
He sells books on the crafty ways of realestate sales people.
I have it.Good read but becomes tedious,when you realise that its a small minority in the industry who resort to those tactics.
Mind you its nice to know what those tactics are.

Read somewhere where Williams's $10000-$1000000 was due to the success of one trade which went limit up over 4 consecutive sessions---dont know its verasity,but Larry won the comp hands down and placed himself in a position to be able to do what he now does with credibility.

There are many who educate and those successfully doing so make squillions,and why not its a business like anything else,if your good at it you'll do very well.Better and less risk than trading.

If you get something from it then there must be a value,frankly its a personal thing.
I never thought I'd pay $5K for education let alone 4 times that.
I did and thats with the Adelaide Uni doing Advanced Business Management.
I started reluctantly with the attitude(which wont suprise too many here) of
"Been in Business 25 yrs what can a bunch of Academics teach me about business" well I found the answer to that-----Plenty.

Value I have found is more in the application of that being taught than the education itself.One small insight can be worth 10x the investment yet to someone else the same snippet will be all but worthless,as they either cant or dont implement it.


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## GreatPig (25 May 2006)

Hmm... so Steve McKnight has been lumped with Henry Kaye as a get-rich-quick spruiker.

Wonder what Steve thinks of that...

GP


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## phoenixrising (25 May 2006)

GreatPig said:
			
		

> Hmm... so Steve McKnight has been lumped with Henry Kaye as a get-rich-quick spruiker.
> 
> Wonder what Steve thinks of that...
> 
> GP



Agreed GP....I have a very high opinion of Steve, I think he charges $495 for his seminars and flogs a few items of his website. Very reasonable. (I have not done them)

Re Henry Kaye, well he gives Jenman plenty of ammunition and rightly so.


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## wayneL (26 May 2006)

I don't follow Larry's stuff, never done a course of his or even read any of his books. But I found this by chance tonight so I'm posting it unbiased and FYI:



> In Response to Critics Larry Answers
> 
> I am totally perplexed as to why particular people seem to be fond of criticizing me on a personal basis.
> 
> ...


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## bunyip (26 May 2006)

Larry Williams performance in winning that trading competition by turning 10 grand into over a million in 12 months, needs to be put in perspective. 
He turned the 10k into 2.5 million in nine months, but then had a massive drawdown which saw him lose 60% of his capital in the last three months, and finish the year with just over a million dollars in his account. 
A drawdown of that magnitude shows that he was taking huge risks and not practising the sort of money management and capital preservation that would ensure long term survival. 
Such a system is clearly unsustainable, and would in all likelyhood wipe out a trading account sooner or later.
Williams himself stated "You don't win trading contests by trading conservatively and only taking small risks".
Or words to that effect.

It's on record that Larry lost six million dollars of clients capital when he tried his hand at trading other peoples' money.

I've read three of his books. One of them had the illustrious title of 'The Future Millionaire's Confidential Trading Course', in which his core strategy seemed to be......
*Use a 10 week moving averge to show the trend.
*Use the Williams%R indicator to show pullbacks within the trend.
*Enter the trade when the pullback finishes and the uptrend resumes.

You simply reverse this system for short trades.
It's a perfectly workable and robust trading system, but it wasn't invented by him and in fact this system was being used long before Larry was even born.

In his book 'Trading For A Living', Alex Elder outlined virtually the same system and called it the 'Triple Screen Trading System".

In one of his other books he outlines a system that advises using the seasonal tendancies of commodities to enter trades at certain times of the year so as to catch the expected rise or fall in the value of the commodity.
For example, the price of heating oil could be expected to rise as the northern hemisphere winter approaches. 
So the idea is that you'd buy heating oil futures at the same time every year so as to harvest the expected price rise.
The book lists numerous commodities and advises buying them or shorting them on a certain dates each year.
Personally I think this system would be a disaster, because according to the many decades of charts I looked at for all the commodities he listed, they don't reliably rise or fall on or shortly after the dates he mentions in his book.

To give credit where credit is due, Larry does trade his own money live at his seminars, and part of those profits go back to the seminar attendees. 
I did hear that at one of his Sydney seminars he made virtually no money over the three days, but I wouldn't hold that against him....we all go through periods where our trades just don't work out as planned.

I imagine that the man would need to have considerable confidence in his trading ability if he trades his own money live in front of an audience.

Bunyip


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## Syzygy (3 September 2006)

So what is the latest news in the saga? I think there was a court date on the 24th. What did the judge rule?


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## phoenixrising (5 September 2006)

Syzygy said:
			
		

> So what is the latest news in the saga? I think there was a court date on the 24th. What did the judge rule?




Good question Syxygy, don't know.

He was allowed to run the City to surf a few weeks ago, maybe he had a  submarine waiting of Bondi to wisk him away.

I'll see what I can find out.

Cheers


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## drillinto (12 May 2007)

The internet is filled with bogus trading systems

http://www.dailynews.com/ci_5859513?source=rss


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