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Asset Management Program or Programme:

: Asset management is provided by banks, licensed brokerage houses, licensed investment consultants, etc.  It is portfolio management provided by highly trained professionals on either a domestic or international level.  The one who is in charge of asset management is called an asset manager.  

An asset manager may also oversee inventory, real estate, equipment, or any other form of property,  with each type of management being a specialized field.

: Fraudsters use the term to define an account into which the investor places his assets  in order to achieve extremely high investment profits within a few weeks to a year.  The account is usually located in a European or island bank, and is managed by an Asset Manager.  The Asset Manager is always an individual of extreme financial privilege, having special licenses and dispensation to enter into exclusive trade agreements for the exchange of financial documents at profits above what is normal and usual.

Allegedly, the funds will be used to purchase PRIME BANK GUARANTEES, LETTERS OF CREDIT or other securities to be sold on the SECONDARY MARKET at enormous profit.  The investor is told that his "managed" account will always contain either cash funds or securities (FRESH  CUT SECURITIES).  In order for the "trades" to take place, the investor must provide the swindler with a POWER OF ATTORNEY.  The Power of Attorney gives the swindler the legal right to move funds in and out of the "managed" account. 

In fact, it gives the fraudster the legal right to yank the funds out of the account the moment they hit the bank and become the only real beneficiary of the transaction.  Depending on the number of targets the swindler has on the hook at the time, he will either immediately disappear into thin air or start coming up with excuses as to why things aren't going according to plan. 

Usually he will blame everything on the banks, on other investors, on the market, or on anything the investor will accept.  In the meantime, the swindler is gathering in money from other targets and buying himself plenty of time.