# Alpha Select Index Trading Managed Accounts - Has anyone invested with them?



## wob

Has anyone invested with or had any dealings with Alpha Select Pty Ltd and their index trading managed accounts? Their returns seem a bit too good to be true (60% in 6mths on $10K) and often a sign of a scam but I'm not sure and interested to hear any other experiences. 

I can't find any comments about them online, good or bad, and they aren't listed in any of the scam websites. the company is registered with asic but they don't have an AFS license but say they don't need one because they are not stock brokers and don't give advice and you buy units in a unit trust which does the investing (apparently they have 9 going at the moment with upto $500K in each). ASIC say some managed investment schemes have exceptions if fewer than 20 members. I spoke with ASIC and they said they couldn't give me an answer either way on whether they should have an AFS license because there were certain instances and circumstances where you don't need one. 

They guarantee your capital for the first 6 months if you don't withdraw from the account within that first 6 months and say you can access your money at any time and can withdraw if you want you just forgo the profit and can log on 24/7 to view the accounts balance. They say there is a 10 day cooling off period in NSW. They take a commission of 15% of the profits and no upfront fee. They ask for 100 points of ID to open an account and deposit the money into a CBA account, it says their office is at 1 Market St Sydney but doesn't mean its legit.

Any feedback would be greatly appreciated.


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## skyQuake

wob said:


> Has anyone invested with or had any dealings with Alpha Select Pty Ltd and their index trading managed accounts? Their returns seem a bit too good to be true (60% in 6mths on $10K) and often a sign of a scam but I'm not sure and interested to hear any other experiences.
> 
> I can't find any comments about them online, good or bad, and they aren't listed in any of the scam websites. the company is registered with asic but they don't have an AFS license but say they don't need one because they are not stock brokers and don't give advice and you buy units in a unit trust which does the investing (apparently they have 9 going at the moment with upto $500K in each). ASIC say some managed investment schemes have exceptions if fewer than 20 members. I spoke with ASIC and they said they couldn't give me an answer either way on whether they should have an AFS license because there were certain instances and circumstances where you don't need one.
> 
> They guarantee your capital for the first 6 months if you don't withdraw from the account within that first 6 months and say you can access your money at any time and can withdraw if you want you just forgo the profit and can log on 24/7 to view the accounts balance. They say there is a 10 day cooling off period in NSW. They take a commission of 15% of the profits and no upfront fee. They ask for 100 points of ID to open an account and deposit the money into a CBA account, it says their office is at 1 Market St Sydney but doesn't mean its legit.
> 
> Any feedback would be greatly appreciated.




Scam - their ACN has been cancelled. 
http://www.abr.business.gov.au

Images on their homepage are generic finance pics. Rolling ticker shows incorrect prices for the codes - both AU and US prices are wrong.

Didn't bother to read the rest of their brochure. Sounds scamtastic


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## wob

Thanks for the info and taking the time to reply. I looked up the website link you gave and yes they did cancel their ABN as an Australian private company and on the same day registered as a fixed unit trust which makes more sense for what they are offering. Interesting though, maybe they are not a scam? 

Open to any other feedback


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## skyQuake

wob said:


> Thanks for the info and taking the time to reply. I looked up the website link you gave and yes they did cancel their ABN as an Australian private company and on the same day registered as a fixed unit trust which makes more sense for what they are offering. Interesting though, maybe they are not a scam?
> 
> Open to any other feedback




No PDS, no ASFL aside, i dimly remember it is an offence to supply an incorrect ACN?

Anyways, anyone can made a shoddy website and format a few a nice looking spreadsheet to prove results.

And finally... 60% pa. Wow really? Why seek retail fish when they can tap instos for much more $$$
Im sure many fund managers would give their left testicle for 30%, and let alpha select keep the other 30%

TL: DR; 
scam.


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## Plumber1

I just had a look at the brochure. It is missing some key information.

Who are the principals?
Who are the traders?
What are their backgrounds?

*This screams SCAM to me.*  And the poster being a first time poster now looks like a shill for the company.


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## pixel

Plumber1 said:


> *This screams SCAM to me.*  And the poster being a first time poster now looks like a shill for the company.



 Don't worry, Plumber; Joe will be on to it and wipe the entire thread.
It's a good sign though that ASF members "get the drift" pretty quickly and identify a newbie scam artist.


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## wob

thank you for everyone's comments. I can assure you I have absolutely nothing what so ever to do with the company, I was after some genuine feedback and any experiences anyone has had with this company as I have been unable to find much about them positive or negative. If they are genuinely a scam I would like nothing more than for them to be identified, closed down and people to be made aware. You have raised some good points and i appreciate people taking the time.


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## TonkaTuff

They were issued a notice by the ACCC.  Description of the breach is at the bottom.
http://www.accc.gov.au/content/index.phtml/itemId/906441/fromItemId/859018

Tha's a very good point made above.  If they can return those kind of results, why would they be in the retail market.  If they jsut invested the salary's of the sales people they employ instead of employing them, the would make a motza!!


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## Simon bellyman

TonkaTuff said:


> They were issued a notice by the ACCC.  Description of the breach is at the bottom.
> http://www.accc.gov.au/content/index.phtml/itemId/906441/fromItemId/859018
> 
> Tha's a very good point made above.  If they can return those kind of results, why would they be in the retail market.  If they jsut invested the salary's of the sales people they employ instead of employing them, the would make a motza!!




I am doing things the wrong way around. I gave into their persistant phone calls. I am still uneasy with this investment. I have put 5K into their account. I am still in the 14 day cool off and am concidering having a go at getting the money back out. If they will not allow then post their name as a scam all over the net!!
Any commIents? I would like for it not to be a scam as I would like to have a go at the index trading


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## Plumber1

We are all placing bets on whether you will get your $5000 back.  
I say that you have* zero *chance. 
Once they have your money, they won't give it up unless you guarantee to invest other money with them. 
PS  They are not worried about your threats to Out Them on the internet. They have $5000 from you so they will not give it back.


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## roni

Simon bellyman said:


> I am doing things the wrong way around. I gave into their persistant phone calls. I am still uneasy with this investment. I have put 5K into their account. I am still in the 14 day cool off and am concidering having a go at getting the money back out. If they will not allow then post their name as a scam all over the net!!
> Any commIents? I would like for it not to be a scam as I would like to have a go at the index trading




Hi 

Can you tell me how did you go with alpha select?
Did you get your money back?
Ore how is the trading going?


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## wallywakka

This mob keep calling me. Don't know how they got my mobile number. Last time they called (should have made a note of his name, but didn't) the salesman had a parting shot (when I had declined his offer) with "you don't operate a business, do you?" I said "no". He said "that's obvious", and hung up on me!
Anyway, I declined their sales pitch with the rule: If it sounds too good to be true, it probably is.
Why do they need to 'cold call' potential clients, if their product is so wonderful?
Why do they need to block their phone number? If they need to hide that, what else are they hiding?
I wouldn't trust this mob as far as I could throw them.


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## Mysterion

wob said:


> Has anyone invested with or had any dealings with Alpha Select Pty Ltd and their index trading managed accounts? Their returns seem a bit too good to be true (60% in 6mths on $10K) and often a sign of a scam but I'm not sure and interested to hear any other experiences.
> 
> I can't find any comments about them online, good or bad, and they aren't listed in any of the scam websites. the company is registered with asic but they don't have an AFS license but say they don't need one because they are not stock brokers and don't give advice and you buy units in a unit trust which does the investing (apparently they have 9 going at the moment with upto $500K in each). ASIC say some managed investment schemes have exceptions if fewer than 20 members. I spoke with ASIC and they said they couldn't give me an answer either way on whether they should have an AFS license because there were certain instances and circumstances where you don't need one.
> 
> They guarantee your capital for the first 6 months if you don't withdraw from the account within that first 6 months and say you can access your money at any time and can withdraw if you want you just forgo the profit and can log on 24/7 to view the accounts balance. They say there is a 10 day cooling off period in NSW. They take a commission of 15% of the profits and no upfront fee. They ask for 100 points of ID to open an account and deposit the money into a CBA account, it says their office is at 1 Market St Sydney but doesn't mean its legit.
> 
> Any feedback would be greatly appreciated.





They have just shut down their website - please get in touch with Craig Walter on
 0432141506 to organise a joint lawyer and detective agency - we have information.
This was a slick operation done quickly....


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## jimmyizgod

Mysterion said:


> They have just shut down their website - please get in touch with Craig Walter on
> 0432141506 to organise a joint lawyer and detective agency - we have information.
> This was a slick operation done quickly....




i think this whole thread is just a scam by a detective agency to drum up business


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## Mysterion

jimmyizgod said:


> i think this whole thread is just a scam by a detective agency to drum up business




This is not a detective agency looking to drum up business - the website is closed and the
 1300 number and other numbers have shut down. There is no Alpha Select office at 1 market
 Street Sydney - this has been looked into... sugest people start working together as above.


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## Mysterion

Mysterion said:


> This is not a detective agency looking to drum up business - the website is closed and the
> 1300 number and other numbers have shut down. There is no Alpha Select office at 1 market
> Street Sydney - this has been looked into... sugest people start working together as above.




 WARNING: The Alpha Select Companies listed on ASIC may not be the same people
                as the name used on the website www.alphaselect.org

                They may have picked on a company name and used other fictitious details
                as part of an exit strategy...


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## stockGURU

Mysterion said:


> WARNING: The Alpha Select Companies listed on ASIC may not be the same people
> as the name used on the website www.alphaselect.org
> 
> They may have picked on a company name and used other fictitious details
> as part of an exit strategy...




Even though their website is down, I was able to download a cached copy of their "Information Memorandum" PDF via Google which contains all their details including their phone numbers, address, ACN and bank account details.

I have attached the PDF file to this post in the hope it may be useful.


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## nritchie

*Alpha Select*

 Can anyone tell me about the current situation with Alpha Select. I have a feeling they have gone broke. Does anyone know the truth in this. This is my first post. nr


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## nritchie

wob said:


> Has anyone invested with or had any dealings with Alpha Select Pty Ltd and their index trading managed accounts? Their returns seem a bit too good to be true (60% in 6mths on $10K) and often a sign of a scam but I'm not sure and interested to hear any other experiences.
> 
> I can't find any comments about them online, good or bad, and they aren't listed in any of the scam websites. the company is registered with asic but they don't have an AFS license but say they don't need one because they are not stock brokers and don't give advice and you buy units in a unit trust which does the investing (apparently they have 9 going at the moment with upto $500K in each). ASIC say some managed investment schemes have exceptions if fewer than 20 members. I spoke with ASIC and they said they couldn't give me an answer either way on whether they should have an AFS license because there were certain instances and circumstances where you don't need one.
> 
> They guarantee your capital for the first 6 months if you don't withdraw from the account within that first 6 months and say you can access your money at any time and can withdraw if you want you just forgo the profit and can log on 24/7 to view the accounts balance. They say there is a 10 day cooling off period in NSW. They take a commission of 15% of the profits and no upfront fee. They ask for 100 points of ID to open an account and deposit the money into a CBA account, it says their office is at 1 Market St Sydney but doesn't mean its legit.
> 
> Any feedback would be greatly appreciated.




I invested $10K six weeks ago (first time invester) and have recently been unable to access their website (unavailable) nor phone their office (automatic disconnection) and have had unreturned calls from salesman who sold me the product. I had a phone call 2 weeks after investing asking if I wanted to invest a further $15K based on the returns that I was already seeing. It was here I smelt a fish but the initial transaction had already been made. I think this answers the question whether they were ligit. Fine 1$0K donation that was. The unfortunate thing for the everyday person (like myself) won't try again (have lost all faith). Save your money! nr


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## Mysterion

stockGURU said:


> Even though their website is down, I was able to download a cached copy of their "Information Memorandum" PDF via Google which contains all their details including their phone numbers, address, ACN and bank account details.
> 
> I have attached the PDF file to this post in the hope it may be useful.




I have an entire copy of the website source code..... the name at 1 Market Street is
fictitious..... therefore a lot more is fictitious........


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## nritchie

Mysterion said:


> I have an entire copy of the website source code..... the name at 1 Market Street is
> fictitious..... therefore a lot more is fictitious........




Also google earthed their address a while ago and it was an empty space with a 'lease' sign on it.


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## Mysterion

skyQuake said:


> Scam - their ACN has been cancelled.
> http://www.abr.business.gov.au
> 
> Images on their homepage are generic finance pics. Rolling ticker shows incorrect prices for the codes - both AU and US prices are wrong.
> 
> Didn't bother to read the rest of their brochure. Sounds scamtastic




What was their (supposed) ACN form your perspective....

 Who has heard of 'Owen Brown' - keep all the telephone records and contact names
  in a list with regards 'Alpha Select.'.....


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## Mysterion

Mysterion said:


> I have an entire copy of the website source code..... the name at 1 Market Street is
> fictitious..... therefore a lot more is fictitious........




Their website domain name on www.godaddy was due to expire in Decemebr 2011...

 Even though the site is 'private' GoDaddy said the persons name for the registration
 was Aden Campbell - probably fictitious.....not sure...


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## Mysterion

Mysterion said:


> I have an entire copy of the website source code..... the name at 1 Market Street is
> fictitious..... therefore a lot more is fictitious........





  Hello,

  Just touching base. Please keep all details of phone numbers and names and make a   list.

  It is apparent they used a whole range of false identities.

  Several people have phoned me today including a family who put in $15,000.

  1: Report the fraud to www.scamwatch.gov.au

  2: Report the fraud to the police fraud squad in your state...

  3: Get in touch with your bank manager and ask them to help you by holding onto bank account details
      for the transaction (they may have used several diffrent accounts) so legal representatives such as the
      police can access the data..... 

    4: Please indicate if you are willing to be part of a joint effort to engage a lawyer and/or detectives....

  We are getting info from a members Bank Manager who has agreed to hold onto details
  about the ‘Alpha Select’ account until a legal representative can gain access.

  At this juncture I will not be handing out my actual home address details as my wife is a bit fearful
  of who we are dealing with........ 

  Please stay in touch.

  Regards


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## Ryano1911

Great, I just invested 5k with them 2 weeks ago then got a phone call telling me about a deal they were doing for people who upgraded the accounts.
They were offering to drop their commission down to 5% if I invested another 5k.  So I checked the website it was down but you could still do enquiry’s through it as it was being updated or so It said. 

The trader (Steve) then confirmed that they were designing a new website so that customers could also do some index trading on their own if they wanted and this was supposed to be finished on the 24th of August.  I stupidly said ok I'll go another 5k deposited it into the account and the website has completely disappeared.

If this company is a scam operation what can I do and is there any chance of ever getting the money back?

Ryan


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## Mysterion

Mysterion said:


> I have an entire copy of the website source code..... the name at 1 Market Street is
> fictitious..... therefore a lot more is fictitious........





Hi,
         You might want to talk to your bank managers about the transfer of money to an
         ‘Alphaselect' account and the personal details they have already gotten from you -
          as this could be the basis for skimming more money out of your accounts.....

          You also filled out ‘contract’ forms with personal details..... another avenue of identity
          theft....

          Don’t give up hope and stick together.......

Regards


----------



## Mysterion

Mysterion said:


> I have an entire copy of the website source code..... the name at 1 Market Street is
> fictitious..... therefore a lot more is fictitious........




If anyone from 'AlphaSelect' who was a part of the company and unaware it was
a fraudulent operation - misled by the 'bosses.... then we suggest you step forward
as very powerful authorities to do with criminal networks and - yes - terrorist activity
are now on your trail .... they can access all sorts of 'privacy' data from bank transactions, websites.... because they do not like these networks being able to
disguise their identity - as this opens the door for other networks to copy the operating
model......  Get in touch with ASIC as soon as possible......


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## karinas

your lucky 10k my self and 4 friends have $120k between us.
everything was good he got his money plus all the interest a couple of years ago
all legit but this time like the rest. As soon as we queried getting some money out our phone calls were blocked and wouldnt be answered all day anwser first up the next day then blocked again use other phones and get through and yep they are not on the realestate client list at 1 market st.
If they have gone bankrupt at least tell us.
Nice of ASIC to put the note on the bottom here too.
like the ACCC ASIC is a toothless tiger too all we got told was see a lawyer we can do nothing they didnt even want too know too go into accredition with which was due 1st sept


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## knothead27

Hi, I too  have been duped by these fraudsters after extensively seeking out any info re: their being a scam. Was constantly in touch with a Peter White as well as Owen Brown and fobbed only a week or so ago with no return phone call. I have lodged a complaint with ASIC some months ago and received little help except to say that they are under investigation and that I should contact my local Police and give them details. I would like to join a concerted effort to catch these people as the implications can be considerable. Please add me to any lists being compiled


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## auditdi

These guys are sharks - I knew better although put in 5K to test the waters. I would be willing to chase them down. Nothing added up with them although I still went against my better judgement to take a risk. Funny thing is my return was due the day they took down the website - I called them the day before and everyone was on holidays including Owen Brown - lol - bet they are on holidays 'overseas'.....


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## BABA

Mysterion said:


> They have just shut down their website - please get in touch with Craig Walter on
> 0432141506 to organise a joint lawyer and detective agency - we have information.
> This was a slick operation done quickly....




I  also have lost a lot of money. lets keep in touch.

BABA


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## Bazza44

BABA said:


> I  also have lost a lot of money. lets keep in touch.
> 
> BABA




I invested $5000  about two months ago and was already up to almost $7000 
Guy's name was Michael Mason, and he pestered me to invest more. Luckily, I didn't have any more (although I was so impressed with my resturns I was trying to get the money together). Anyway, have told my bank, the police and ASIC - who weren't at all interested.
One thing no one else has mentioned: there's an Alpha Select in the UK (a long standing and I believe entirely reputable company), and that was the main reason I invested with Alpha Select Aus. Mr Mason told me they were the same company. Muggins here, believed him - they're not!


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## Alf107

I also got caught up in this scam in April this year - invested a total of $100k over 3 separate upgrades.  Owen Brown & Peter White were my two contacts and almost had me putting my Super into this fund.
I too have reported Alpha Select to the ACCC and ASIC but as already stated on this thread, there is little that these regulators can do.
Contacted Craig Walters today to register my interest in pursuing these crooks. Would be happy to recoup some money but not expecting too. 
Huge lesson learnt here and a big dose of reality - these people are the lowest of scum.

See attached company search carried out on Alpha Select.


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## banco

You guys should go and see your local member.  Inquiries from an MP are about the only thing that might prompt ASIC to do anything.


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## Kaz007

I got stung by this scum also and have reported it to ASIC. First was contacted in January and invested $5k then after 3months got a call from them to invest more and I stupidly gave them another $45k, did all the backround checks but should have trusted my gut feeling, the one we are chasing is *Alpha Select Australia *(Watsons Bay)as the one in Melbourne which is just Alpha Select had a business selling phones (at least thats what I've been told, don't know what to believe any more). Was contacted by an Andy Sharpe (the name alone should given it away), also spoke to a Peter White, Dean Simons, Michael Mason and a Michael Tweadanson. Had been trying to get my money out since the end of July and just was being fobbed off or told that they were having issues with there phones, staff etc. anything to stall in the end they were just ignoring my calls, by the time I contacted ASIC it was all to late. I'm hoping some of them will get caught as there still has to be a paper trail with bank records etc. would like to see them go to jail but I'm not holding not breath. If enough of us contact ASIC and the police they are going to have to do something about this as I'm not prepared to just let this scum get away with this. *If you worked for Alpha Select and maybe didn't know what was going on I strongly suggest you come forward and tell the police and ASIC as much info as you can.*


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## warbid76

Seems like a bad dream, we too gave them ( Michael Mason ) $50.000.00.
The first of 25, then a further 5, then on the day the website closed down a further 20.
Thank you and come in sucker. Like the rest of you I did what I considered all the obvious checks.
I am prepared to join with anybody who wants to get them.

Regards
David


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## Steven777

Guess I learned a very old lesson again, if it sounds to good to be true , it probably is to good to be true and it was  It cost me $10,000 to relearn that lesson at least I smelt a rat with their last chance offer to invest $50,000 about 3 months into the investment Owen Brown seemed quite annoyed by my refusal to give any more money until the first investment had matured and paid out. Lets face it you always had that underlying feeling these people were shonks right from day one.


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## victor06

warbid76 said:


> Seems like a bad dream, we too gave them ( Michael Mason ) $50.000.00.
> The first of 25, then a further 5, then on the day the website closed down a further 20.
> Thank you and come in sucker. Like the rest of you I did what I considered all the obvious checks.
> I am prepared to join with anybody who wants to get them.
> 
> Regards
> David




i too was contacted by phone to invest 6 months ago and i did 5000 then a further 2000 to make 10 then a few days ago  the web site was down and phones disconected i cant believe asic in australia cant track them down in this day and age with all this technology. bye bye 10k


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## Julia

Did these people just cold call you or did you respond to their advertising?

What actually were you buying?


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## Alf107

I contacted my local detectives today to report this fraudulent set-up. They took a detailed report which they tell me they send through to the police in the local area for filing and possible investigation. If there is enough complaints and money at stake they will investigate. 
So from my dealings with the ACCC, ASIC and police, these government authorities will only act when there is a large number of complaints or significant amount of money involved - which seems to be the in this case.
So the only possibly way of seeing these guys caught and prosecuted is if everyone involved reports it to the ACCC, ASIC and local police station. Strength in numbers people.

PS: Has anyone contacted Craig Walter - Mysterions contact? I spoke to him yesterday and he said he had many reports from victims of this scam. I was expecting some feedback from him via e-mail this morning on what we could do.


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## buckylegs

Alf107, What state are you in.  I am in QLD and when I spoke to my local police they told me I had to report it to the NSW police in Sydney as that is where Alpha Select ACN is registered.


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## Alf107

buckylegs said:


> Alf107, What state are you in.  I am in QLD and when I spoke to my local police they told me I had to report it to the NSW police in Sydney as that is where Alpha Select ACN is registered.




buckylegs, I am in NSW.


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## HummerMan

buckylegs said:


> Alf107, What state are you in.  I am in QLD and when I spoke to my local police they told me I had to report it to the NSW police in Sydney as that is where Alpha Select ACN is registered.




I am conducting inquiries into this company. You need to make a report with your local police. Do the report. Get a Qprime number. Link it to QP1100774863. Dont let anyone them tell you to report it in NSW. You report it and get a number. The more reports the better. Bring every correspondence between you and this company. Post your outcomes.


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## Alf107

Bucklegs,

I will enquire at my local police station about what steps you need to follow to lodge a police fraud report.

When speaking to my bank today about the fraud, they said that the police have the authority to request the account holder details i.e. name, address, phone, where they suspect fraud. This gives us some hope that the police will be able to get the details of the person or person's that the Alpha Select bank account was setup by.


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## HummerMan

Alf107 said:


> Bucklegs,
> 
> I will enquire at my local police station about what steps you need to follow to lodge a police fraud report.
> 
> When speaking to my bank today about the fraud, they said that the police have the authority to request the account holder details i.e. name, address, phone, where they suspect fraud. This gives us some hope that the police will be able to get the details of the person or person's that the Alpha Select bank account was setup by.




Alf107 when you make your report have them link it to QP1100774863 in Qld. That way law can have an idea of the magnitude of this operation. This is very organised crime.


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## sab01

i have lost 25.000.00 not happy   scums are not the only words to use for these sort of people they will all get there day   dont worry about that   i wiil join with anybody to catch these people


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## jamie123

Julia said:


> Did these people just cold call you or did you respond to their advertising?
> 
> What actually were you buying?




i got cold called, didnt have $5000, so they took my $3750.00 gladly. now i have to tell my wife and 3 kids.  
how can they get away with this?


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## Robbed

Yes we have been scammed out of $25,000 too first $5000 back in april  then $10,000 may and a further $10,000 in june the guys name i spoke to was steve.Have been talking to graig was told to go to police i live in QLD but has to be passed onto nsw fraud squad and the sargent said he would do that.The phone call to me was cold called lets stick together and get this scum hopefully the police are onto alphas commonwealth bank account.


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## jamie123

stockGURU said:


> Even though their website is down, I was able to download a cached copy of their "Information Memorandum" PDF via Google which contains all their details including their phone numbers, address, ACN and bank account details.
> 
> I have attached the PDF file to this post in the hope it may be useful.




i got one too with different acn number on front page
	

		
			
		

		
	

View attachment Information Package.pdf

	

		
			
		

		
	
 ive contacted accc and asic, its easy to do and all online. i only lost $3750 but still worth it for those that have lost a heap more. dirty scumbags


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## Ryano1911

I'll also Join any joint effort to get these pricks, as I said in a previous post I got done for 9k, 3k of which I stupidly used from an overdraft I have, and the scumbag Steve had the cheek to say "i don't want to take food off your table".  
I've disputed the transactions through the bank but that’s going to take 6 week if the account is still open.  

I've been thinking is it worth getting a group together and going to ACA or Today tonight because of the Commonwealth Bank account.  They could use some sort of Harbouring criminals angle and force the Bank to pay back the money obtained through their bank??.  
Maybe I'm a bit naive but when I opened a business account I had to provide all my business details inc ABN & ACN, Surly they had to do the same.

Ryan


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## Julia

You'd seem to have nothing to lose in making an approach to one of the tabloid current affairs shows.
There have been previous examples of publicity actually forcing some action.
Good luck.


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## Ryano1911

That was my thinking Julia
So the Question who's in to have a crack???


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## jamie123

Ryano1911 said:


> That was my thinking Julia
> So the Question who's in to have a crack???




ILL HELP IN ANY WAY


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## knothead27

jamie123 said:


> ILL HELP IN ANY WAY




 I spoke to the Police here on the Gold Coast and was told to write a request for my money to be refunded and send it to the 1 Market St address. Once the letter was returned "RTS" I could then lodge a complaint. I too spoke to Alpha Select UK and got a very firm denial of any relationship between them and A/S Australia. Slow process but any way to publicise this scam thru the media may get results, or at least the authorities off their collective butts. I agree - I think the ASIC and the ACCC both toothless agencies - someone should poke them with a stick


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## Lynchman

knothead27 said:


> I spoke to the Police here on the Gold Coast and was told to write a request for my money to be refunded and send it to the 1 Market St address. Once the letter was returned "RTS" I could then lodge a complaint. I too spoke to Alpha Select UK and got a very firm denial of any relationship between them and A/S Australia. Slow process but any way to publicise this scam thru the media may get results, or at least the authorities off their collective butts. I agree - I think the ASIC and the ACCC both toothless agencies - someone should poke them with a stick





I too have lost a good sum of money.

"Jacob Michaels  - American from Alpha Select", if you are reading this I hope you learn to sleep with one eye open.

EVERYBODY get in contact with Southport Police on the Gold Coast. This is where the scammers were operating from and with drawing the funds by ATM. 
There Commonwealth Bank account everyone deposited money into is linked to the Gold Coast and CBA corporate investigators are waiting for the police from this branch to get in contact with them.

If you have a police report number already, give it too SouthPort Police , in hope they quickly catch these scum,  with enough people complaining.

Keep up the good fight.


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## Alf107

Ryano1911 said:


> That was my thinking Julia
> So the Question who's in to have a crack???




I'm all for getting television exposure via ACA or TT, it would certainly elevate and speed up the investigation process with all authorities. 
When this story is presented to the TV media - either Channel 9 or 7, I'm sure that they would grab this with both hands. Its a huge story considering the number of victims and money involved - several millions. Much bigger than the 'Bouquet Bandit' story that got news coverage last week.
Who is gunna release the Alpha Select Scums scam story to the media?


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## warbid76

Alf107 said:


> I'm all for getting television exposure via ACA or TT, it would certainly elevate and speed up the investigation process with all authorities.
> When this story is presented to the TV media - either Channel 9 or 7, I'm sure that they would grab this with both hands. Its a huge story considering the number of victims and money involved - several millions. Much bigger than the 'Bouquet Bandit' story that got news coverage last week.
> Who is gunna release the Alpha Select Scums scam story to the media?




Hi Everybody.
I'll will be in anything to get these shysters. I spoke with a Detective from the S.A. fraud squad this morning who told me that this boiler room scam as it's known is international and as such is under investigation by ASIC investigators as state police appear ( at this stage ) to have no jurisdiction but it is early days and that may change
He will notify me if it does change and I will tell you. Incidentally as soon as I mentioned 
Alpha Select he knew exactly who I was talking about and what the scam was.
Further in the conversation he told me that the next phase is a call from overseas telling you that ( for a fee ) a legal company will recover your money and evidentally it appears to be genuine so be aware people.
The Southport connection appears to be right on the money.
He stessed two things, be awake to to any calls or emails from overseas and to report this one to ASIC.

Regards David


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## sab01

sab01 said:


> i have lost 25.000.00 not happy    scums are not the only words to use for these sort of people they will all get there day    dont worry about that    i will join with anybody to catch these people   jacob michaels  and  jason jones
> was the crooks i spoke to


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## Robbed

Hi 
Thanks for the info on legal company whom may ring from overseas. Looks like this is going to be a waiting game to catch all those involved.














warbid76 said:


> Hi Everybody.
> I'll will be in anything to get these shysters. I spoke with a Detective from the S.A. fraud squad this morning who told me that this boiler room scam as it's known is international and as such is under investigation by ASIC investigators as state police appear ( at this stage ) to have no jurisdiction but it is early days and that may change
> He will notify me if it does change and I will tell you. Incidentally as soon as I mentioned
> Alpha Select he knew exactly who I was talking about and what the scam was.
> Further in the conversation he told me that the next phase is a call from overseas telling you that ( for a fee ) a legal company will recover your money and evidentally it appears to be genuine so be aware people.
> The Southport connection appears to be right on the money.
> He stessed two things, be awake to to any calls or emails from overseas and to report this one to ASIC.
> 
> Regards David


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## karinas

Right guys
Asic ACCC are about as much help as a striaght jacket.
useless people, all i got was see your laywer, some protection they offer!
i tracked down address where Alpha select was reigistered.
16 lindaway Tullermarine was an import export buisness Alpha Select did operate out of the address
the Chap that owned alpha select was a mobile phone salesman who has been getting abusive calls understandable but he has been scammed too his ABN and ACN numbers and addresses  same as his bussiness agent in st kilda rd Melbourne. Who was beside himself when I explianed it all very nice man very helpfull in trying too find info for me so please don't ring Geoff and abuse him.
And as a Asic agent they even Asic gave the run around and would tell him very little he was on speaker while i was in his office they are unbelievable people disband accc and asic i say save Government:banghead money.
Now what i have just found out through searching around its a Gold Coast scam by the look of it commonwealth bank 42 bundall rd is where all our moneys went.
think i did well for an ametuer lol better than the police ..but who knows if the bank will release the id photo its up too them the police say and bank say police  pass the buck boys looks like the commonwealth protect the crims in more ways than one. i guess i am a bit provocative but we are all peeved off with the blocking you get every way u turn just have to see what come next i guess


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## Ryano1911

karinas said:


> ..but who knows if the bank will release the id photo its up too them the police say and bank say police  pass the buck boys looks like the commonwealth protect the crims in more ways than one. i guess i am a bit provocative but we are all peeved off with the blocking you get every way u turn just have to see what come next i guess




The Above statement is exactly along the lines of what weshould be putting to ACA or Today Tonight.
I would think the Commonwealth bank has a lot to answer for and a lot loose with all the advertising they been doing lately.   
How do you recon we'd go getting the money out of the Commonwealth Bank?? cause obviously they diddn't do any checks on the ABN or ACN (which they need to open a pty ltd account)


Commonwealth Bank..... the criminals choice!

Are you a scammer or looking to commit investment fraud then see one of our 
Commonweath Bank personel business bankers today, we'll help you pull off that scam you've been wanting to setup.


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## banco

http://www.theaustralian.com.au/news/underbelly-inc-gangs-muscle-in/story-e6frg6of-1111117471374


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## Ryano1911

Bank details are:
Commonwealth Bank of Australia
Account Name: Alpha Select Pty Ltd
BSB: 064 214
Account Number: 1017 2126

Also I should add that this so called Steve guy who told me he diddn't want to take food off my table also admitted to me that he's 42 and he owns a Ducati.


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## GAZZAR

Alf107 said:


> I contacted my local detectives today to report this fraudulent set-up. They took a detailed report which they tell me they send through to the police in the local area for filing and possible investigation. If there is enough complaints and money at stake they will investigate.
> So from my dealings with the ACCC, ASIC and police, these government authorities will only act when there is a large number of complaints or significant amount of money involved - which seems to be the in this case.
> So the only possibly way of seeing these guys caught and prosecuted is if everyone involved reports it to the ACCC, ASIC and local police station. Strength in numbers people.
> 
> PS: Has anyone contacted Craig Walter - Mysterions contact? I spoke to him yesterday and he said he had many reports from victims of this scam. I was expecting some feedback from him via e-mail this morning on what we could do.




Yes totally agree!  It will take many of us to report details to the ACCC, ASIC and police.


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## GAZZAR

Ryano1911 said:


> Bank details are:
> Commonwealth Bank of Australia
> Account Name: Alpha Select Pty Ltd
> BSB: 064 214
> Account Number: 1017 2126
> 
> Also I should add that this so called Steve guy who told me he diddn't want to take food off my table also admitted to me that he's 42 and he owns a Ducati.




I have exactly the same detailed numbers regarding these bank accounts - into which I tansferred funds.  Surely the bank accepting these transactions have futher details and could track the money??


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## Plumber1

GAZZAR said:


> I have exactly the same detailed numbers regarding these bank accounts - into which I tansferred funds.  *Surely the bank accepting these transactions have futher details and could track the money??*




* All you need to do is document all the information in this set of posts.*
*Then* take it to the police and tell them you want to place a FORMAL complaint against Alpha Select Pty Ltd.
*Then* go to a solicitor and tell them that you intend to commence an action for fraud against Alpha Select and you want them to legally access all the details of the Bank Account holders.  (Should cost no more than $200)

If each of the people who got ripped off by Alpha Select contacted each other and decided to use just one solicitor, then the costs of the action would be very small for each participant.  

*If you keep adding information here, you will eventually get these guys. *

*If you let this guy get away with this then not only has he ripped each of you guys off,BUT he will do it again and again. 
Do something and get your money back!*


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## McLovin

What a renaissance man, flogging phones out by the airport one day, running a hedge fund the next!

Interesting that it appears they've done a cut and paste job on the disclaimer from another hedge fund too...

http://www.regalfm.com/disclaimer.html

http://www.oracletrading.com.au/disclaimer

Same questions as always:

1) Why is there no AFSL information on your website?

2) What's the name of the "fund", not the management company, and who is the custodian of the "fund's" assets? 

3) Why is there no account name given under the "about the fund" bank details?

4) Why is the address in your "Information memorandum" currently listed as being for lease?

http://www.realcommercial.com.au/property-offices-vic-port+melbourne-5817183

Just sayin'


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## Ryano1911

Ok so I just recieved a call from my bank letting me know that they have been unsuccessful in reversing the transactions but again they can't tell me why they couldn't be reversed.  So I've contacted both ACA and Today tonight to see what happens.  
Has anyone else put their story in?  I've linked them to this thread as well as there is a lot of info here for them to run with.
I would suggest if your willing to be part of some media coverage then get your story to them.

Today tonight
http://au.news.yahoo.com/today-tonight/contactus/suggest-a-story
ACA
http://aca.ninemsn.com.au/feedback.aspx

Also anyone had any updates from the Police??


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## Bazza44

Hi Everyone,
I've been away and lost touch with what's going on re. Alpha Select. But have noticed that there hasn't been any activity for a week or two. Is anything happening? Are people joining forces to try and track these people (I use the term loosely) down? If so, please let me know who I should contact. Have already been in touch with ASIC and the local police in Victoria, but no one else. Is there any joint action in the offing?


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## knothead27

Spoke last week with  the Detective in charge of investigationsinto Alpha select in Qld who is based at Runaway bay Police Station there. If you want to get more action, contact him  and get these guys motivated by your actions and insistance, as did I.


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## Ryano1911

knothead27 said:


> Spoke last week with  the Detective in charge of investigationsinto Alpha select in Qld who is based at Runaway bay Police Station there. If you want to get more action, contact him  and get these guys motivated by your actions and insistance, as did I.




What Are His details??


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## karinas

Why are you looking in melbourne?
The scam was on the gold coast all money was taken into the 
commonwealth bank in Bundel rd Bundel gold coast.
thats where the ids are for the accounts. 
i just tried another tack at one of the ministers 
he's offered too hand it to the police minister.
they have too get to them photo ids in the bank too have any chance.
yeah plummer believe in fairies too stop making every one feel worse.
apprecaite the help but sto belittling them like i am sure you do to me.


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## knothead27

karinas said:


> Right guys
> Asic ACCC are about as much help as a striaght jacket.
> useless people, all i got was see your laywer, some protection they offer!
> i tracked down address where Alpha select was reigistered.
> 16 lindaway Tullermarine was an import export buisness Alpha Select did operate out of the address
> the Chap that owned alpha select was a mobile phone salesman who has been getting abusive calls understandable but he has been scammed too his ABN and ACN numbers and addresses  same as his bussiness agent in st kilda rd Melbourne. Who was beside himself when I explianed it all very nice man very helpfull in trying too find info for me so please don't ring Geoff and abuse him.
> And as a Asic agent they even Asic gave the run around and would tell him very little he was on speaker while i was in his office they are unbelievable people disband accc and asic i say save Government:banghead money.
> Now what i have just found out through searching around its a Gold Coast scam by the look of it commonwealth bank 42 bundall rd is where all our moneys went.
> think i did well for an ametuer lol better than the police ..but who knows if the bank will release the id photo its up too them the police say and bank say police  pass the buck boys looks like the commonwealth protect the crims in more ways than one. i guess i am a bit provocative but we are all peeved off with the blocking you get every way u turn just have to see what come next i guess




Hi, just an update. Spoke again to Runaway Bay Police for the latest info....detective has numerous leads and knowledge of those involved but it stretches across a few states and he was loathe to say anymore except to mention Brisbane as well.. Can I suggest you also contact them and if you have not already done so, add your name and complaint - more grist for the mill


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## karinas

Very funny regal and oracle  probably out of 1 macquarrie same as alpha select you check up they've never heard of them i'll bet


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## karinas

Ryano1911 said:


> Ok so I just recieved a call from my bank letting me know that they have been unsuccessful in reversing the transactions but again they can't tell me why they couldn't be reversed.  So I've contacted both ACA and Today tonight to see what happens.
> Has anyone else put their story in?  I've linked them to this thread as well as there is a lot of info here for them to run with.
> I would suggest if your willing to be part of some media coverage then get your story to them.
> 
> Today tonight
> http://au.news.yahoo.com/today-tonight/contactus/suggest-a-story
> ACA
> http://aca.ninemsn.com.au/feedback.aspx
> 
> Also anyone had any updates from the Police??





yeah updates i need a new pair of runners i run in that many circles no one i talk to is interested police asic accc  just a joke. no one wants to ring me for any more investment ideas not unless the phone melts in their hands. Its the 13/06/12 i am just hoping and praying that the ones facing Court today  are these people screw em to the wall.
you got to love the ASIC disclaimer at the bottom you are soley responsible other wise its in triplicate form for us and we never knew anything you and ACCC are a waste of space


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## Ryano1911

I'm thinking they maybe but not 100%,  I had a detective call me about 2-3weeks ago telling me they had about 3-4 trading names and they were very close to making arrests.


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## coffeeboy

Ryano1911 said:


> I'm thinking they maybe but not 100%,  I had a detective call me about 2-3weeks ago telling me they had about 3-4 trading names and they were very close to making arrests.



Hmmmm , yes i invested $10000 This is a perfect example of trusting the person on the other end of the phone, if where idiots.
what will happen at the end of the day even if the police get them!!!  We will still have been stiffed.
 As a wise friend said only just last week, anyone who wants to sell me something  (over the phone)can get lost,
unless there talking face to face.
Yes i still would like to follow the police progress.


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## priyav82

Hi guys,

Just spoke to Detective Senior Constable Natalie Bennett from the Fraud and corporate crime group of Queensland Police.  The good news is that they have made several arrests.  Here are 2 links of articles outlining the arrests.

http://www.goldcoast.com.au/article/2012/06/13/424211_crime-and-court-news.html

http://www.brisbanetimes.com.au/queensland/fake-cold-calls-net-trio-15m-police-20120613-20988.html

Apparantly Alpha Select was 1 of 5 scams that they started.  I know this doesn't help as the money is gone, but hopefully these guys at least get long jail sentences.

Thanks


----------



## BrianFXman

Mysterion said:


> I have an entire copy of the website source code..... the name at 1 Market Street is
> fictitious..... therefore a lot more is fictitious........




wow guys .. doing a gread job on this forum.. Its great to see an educated forum get to gether rather than those other forex forums who a fake posts from other brokers, or clients in the wrong making up stories. 

Lets see if these guys sping back up .. I'm sure they will


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## knothead27

priyav82 said:


> Hi guys,
> 
> Just spoke to Detective Senior Constable Natalie Bennett from the Fraud and corporate crime group of Queensland Police.  The good news is that they have made several arrests.  Here are 2 links of articles outlining the arrests.
> 
> http://www.goldcoast.com.au/article/2012/06/13/424211_crime-and-court-news.html
> 
> http://www.brisbanetimes.com.au/queensland/fake-cold-calls-net-trio-15m-police-20120613-20988.html
> 
> Apparantly Alpha Select was 1 of 5 scams that they started.  I know this doesn't help as the money is gone, but hopefully these guys at least get long jail sentences.
> 
> Thanks



Sorry to be so long in getting in touch - have you had an  update on sentencing, jail time etc?I can call the Police but wanted to take this opp to thank you for bringing us victims up to speed. Great work


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