This article does not any. Win Every Game on this page. Unsourced material may be challenged and. (November 2009) () Omega Trust was a investment scheme in Illinois. Hood is a former electrician from. In 1994 Hood formed Omega Trust and Trading Limited and began to lecture to church groups. He said that the Lord had given him a mission.

He claimed that he was one of the international traders who could make secret multimillion-dollar deals to benefit humanitarian programs through and 'prime bank notes' in foreign banks. Hood asked for an investment of $100 and promised a payout of $5,100 within 275 days. He wanted the money delivered wrapped in aluminum foil and via because U.S. Federal government was trying to block the trades through the United States Postal Service. Therefore the scheme should remain secret. Thousands of people from USA and overseas sent money. The program stopped accepting new investors in 1995. Free Gcse Revision Podcasts On Itunes.

By that time, Hood had received more than $10 million. He began to present number of excuses as to why investors had not been paid, blaming administrative costs, problems with foreign banks and international financial conflicts.

Omega Trust Prosperity Program. 5/12/2017 0 Comments. Especially when you look at the amount of money that is supposedly in the World Trust fund: $1,0.

When some people still wanted to join, Hood and accomplices claimed that they could sell share units of people who had wanted to leave the program. The estimated total amount of money was $20 million.

In addition, Hood began new investment schemes named Alpha and Destiny and obtained more money from those who had invested to Omega. With the money Hood and his associates bought land and businesses in Mattoon, gave no-interest loans and made trips to Europe. Some of the money also went to finance businesses of other Hood associates like construction contractor Chris Engel. Engel later cooperated with the police and let them tape a phone conversation with Hood. Hood lawyer Steve Ryan was also later removed from the case when he was as a and for possible collusion. Clyde Hood and his 18 associates were indicted in 2000. Some of them pleaded guilty or were convicted of multiple counts of,, and filing a false tax return (see ).

On April 10, 2001, Hood pleaded guilty to mail or wire fraud conspiracy, money laundering conspiracy, and filing a false tax return. On January 24, 2002 Hood was sentenced to prison for 14 years and was fined $5,0 Rfactor Saloon Stox Download Music there. 00. Five of his associates were convicted of active participation of the scheme and were ordered to make restitution. Thirteen associates were convicted of money laundering. Three hundred fifty-five victims received restitution from forfeited Omega Trust funds to the total of $1,697,310.00.

The Omega Trust still lives on in the Internet as a supposed global poverty relief program (see ). Hood is imprisoned at the 'Federal Medical Center Devens,' north of Worcester, Massachusetts, and was scheduled for release in November 2012.

>>>EXHIBIT: Omega Trust & Trading Ltd. 'The Lord's Warehouse is full' proclaimed retired electrician Clyde Hood of Mattoon, Illinois, after fleecing thousands (if not millions) of dollars from various people who invested in a bank debenture scam known as 'Omega Trust & Trading'. Years after this alleged 275 day program was supposed to be completed, it still has not paid a penny to investors, giving it perhaps the single worst monetary payout of any bank debenture scam (and there have been a lot of them). Even after Omega failed to meet numerous deadlines, even more fleecing went on in the guise of two new 'programs' called 'Alpha' and 'Destiny' -- neither of which have paid a dime, either. This page examines the Omega/Alpha/Destiny scams, and how they were perpetrated. This page is under construction as we are daily receiving more materials and information from those who have been scammed by these 'programs' (And yes -- believe it or not -- some morons still believe these programs are real!).