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This is an article from the las vegas sun:

Las Vegas Sun


Two accused of bilking investors charged with fraud

By Amanda Finnegan

Tue, Jan 6, 2009 (11:42 a.m.)

Two men have been charged with federal conspiracy, fraud and money laundering crimes after convincing 700 victims to invest hundreds of thousands of dollars in their Las Vegas-based investment training firm, the U.S. Attorney’s Office announced today.

Richard Young, 49, of Lewistown, Mont., and William Willard, 65, of Bozeman, Mont., are charged in a Dec. 3 indictment with one count of conspiracy to commit mail and wire fraud, five counts of mail fraud, five counts of wire fraud, 11 counts of money laundering, 11 counts of engaging in money transactions with property derived from criminal activity and criminal forfeiture.

The men operated the companies of Global One Group, LLC, Malee Enterprises, Inc., and Badie Inc. Young is listed in corporate records as the founder, president, chief executive officer and manager of Global One. Willard is a co-founder and Member of Global One.

The indictment alleges that between April 2006 and October 2007, Young and Willard received about $900,000 from investors as a result of their false representations.

According to the indictment, Young and Willard told investors they would be provided with educational opportunities regarding trading techniques on the foreign currency exchange market. The pair charged investors a $500 annual membership fee, which included access Global One’s Web site, conference calls and Web-based seminars, the indictment stated. Global One’s Web site now advertises a $2,500 membership fee and a $1,000 renewal fee.

In these conference calls and seminars, Young and Willard claimed that Young had made 8,000 successful trades in a year on the foreign exchange market without one loss. Young and Willard told investors Global One could earn a substantial rate of return on their investments through a software trading program called Global Trac.

Global One allegedly received money from investors in the form of loans and instructed investors to open accounts with Global One brokers. Young and Willard obtained powers of attorney from investors, allowing them to make trades on behalf of investors.

The indictments allege that Global One didn’t have the “Global Trac” software it advertised.

In addition, Young and Willard didn’t intend to fulfill the substantial rate of return on loans provided to them by their investors and used the funds for their own personal use by transferring money from the Global One bank accounts in Reno and Las Vegas to the bank accounts of Maelee Enterprises, Inc., and Badie, Inc. -- companies owned by Young and Willard, respectively.

The men are scheduled to appear before U.S. Magistrate Judge Valerie P. Cooke in Reno on Jan. 22 for an initial appearance and arraignment. If convicted, they face up to 30 years in prison and a $1 million fine on the conspiracy count and on each mail fraud and wire fraud count, up to 20 years in prison and a $500,000 fine on each money laundering count, and up to 10 years in prison and a $250,000 fine on each count of engaging in money transactions in property derived from unlawful activity.

For all those that feel they have been the victim of Global One Group LLC, you can now contact Debra Waite, Victim Witness Specialist:

U.S. Department of Justice
United States Attorney's Office
District of Nevada
333 Las Vegas Blvd. South, Suite 5000
Las Vegas, NV 89101
Phone: (702) 388-6218
Fax: (702) 388-6418

Case Number 2007R00885 and Court Docket Number 08-CR-00120-LRH-VPC

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It is sad that a few bad apples like Slib and Jeff feel the need they have to dis-credit Mr. Young and Mr. Willard. These men set out to give thier members the opportunity to learn to trade in the forex market. They have over delivered in everyway. The training and the charts have given me the opportunity to become a very good trader and I didn't know a thing about trading. After years of joining MLM's, get reach quick schemes and years of my life and thousands of dollars, finally I found G1. I count my lucky stars everyday that I have been given the opportunity to be a GOG member. For all you bad apples, watch and see that the truth will prove that GOG is the real deal!


Kevin-
It's incredible that you could accuse me of being a bad apple. G1 has my money I loaned it. G1 has refused to return my loaned money to me- as well as others that have posted on this blog site. I am not the one indicted on FEDERAL charges, and your either an idiot- or a mole of G1. I plan on seeing your christian brethren go to jail for their crimes against hundreds of investors that undoubtedly feel the same as me. Bad apple? Not me, but hey- I have a question for you- I guess your not doing much trading right now?! Heard From Rick and Bill lately since the charges were announced? Bet not!

Kevin,

After reading your post, I really have to chuckle. Bad apple-me? Let me see, a Federal Grand Jury indicted these yahoos for among other things, taking our money and spending it on themselves and I'm the bad apple? You my friend are in denial- or you're a mole for G1. The only reason I would even spend my time posting on these blog sites is that plain and simple I want my money I loaned G1 returned to me- and have requested so. Their response was to ignore the request, and when forced to respond simply refused- so that makes me a bad apple?!!

You're naive if you truly believe these clowns ever had our interests in mind. So you're now a successful Forex trader thanks to Pip Daddy's tutoring? Well congratulations! As you have indicated on another blog site that you are a loaning member to both the Phase I and II accounts for G1, maybe all your successful trading will make up for the money you WON"T be seeing returned to you from your loans!

I was not interested in manual trading. I joined G1 because of the Auto Trac and all the great things Pip Daddy said about it. Why- even hedge funders would be chomping at the bit to give them money! As I've resigned myself to some degree to the reality that I will never see the money I loaned this group of criminals, I am looking forward to watching Pip Daddy and Mr. Bill Willard go to jail! Maybe they can make new friends and be someone's "wife" there Yeah- it looks like, as Pip Daddy likes to say, quote unquote- things are coming to permutation!

Blessings!

See Kevin steal my money and you go to jail, its that simple. You may walk for a while like O.J. but soon you go to jail. See what stealing $75000. of my money will get you. I wonder if your so connected to Rick and Bill may be you want to be a character witness for them. Iam sure they could use the help.

Can someone please tell me if I need to contact Debra Waite before the 22nd of Jan or not..? I have received emails from the "Victim System" but not sure if I need to do anything?

I am curious were all these Rick and Bill supporters are? Who stated I was just a sour grape and I didnt have a valid complaint. And the only one now is Kevin, how about the rest of you people who trusted your GOD trader Rick and his integrity and righteousness. Damn lucky he didnt step off a cliff with all those faithful followers.

I have been trying to cancel my membership to GOG for 2 months now without any success. They do not respond to emails anymore and they do not have any support staff. Can anybody advise what to do as they keep billing me?

Kevin,

I assure you there are more than just two of us out there that believe- as the Federal Grand Jury obviously did- that G1 is a criminal enterprise. As you've indicated that you are a loaning member of G1 (phase I and II), I'm certain I do not have to remind you that you have not recieved payment on your investment in well over a year- and that somehow is OK with you? You say that Rick has not said or done anything wrong or illegal. Do you know the process by which someone is indicted on Federal charges? It is a long and intensive investigation- in this case by both the FBI AND the IRS- even before they present the evidence to the Grand Jury. So I would say you don't know what you're talking about- these yahoos stole all of our monies- including yours Kevin- and spent it on themselves. We will be lucky if we recoup anything as a result- but rest assured Rick and Bill will be going to prison- which gives me a modicum of satisfaction for stealing my money!

But hey- you have a successful track record trading on your demo account- why don't you take the plunge into the deep end of the pool and make all that money Pip Daddy's training has given you? Or better yet- as the feds have probably at this point frozen all their assets (our money), you may want to "contribute" to Rick and Bill's legal fees- I'm sure they're going to need it! You know how much money it takes to hire an attorney for Federal charges? Lots! So go ahead Kevin and tell me I'm a bad apple again, because you my friend have been had- just like all the rest of us.

I'm a member of Global One, and have known Rick, Bill and staff to be honest and above-board in their business. Obviously, they have not performed as expected, I believe due to circumstances beyond their control. The U.S. Attorney's office should have spent a little more time investigating Vern Hedquest and Frank Conlin's claims. The truth will eventually come out, and if there is any justice at all, Vern and Frank will end up in jail.
It's understandable that some of you have been unhappy with the way your loan has turned out, but there were no actual guarantees, were there? If you want a guarantee, try an interest bearing bank account; forex is NOT for you!