At least that's 2 of us who weren't scammed - just hope others have the common sense to check and ask question before they are ripped off
Black Box Trading
- Thread starter nirrem
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At least that's 2 of us who weren't scammed - just hope others have the common sense to check and ask question before they are ripped off
Impressive detective work on this one guys!
I was about to start writing a post about 1wealth on my blog aussiescamalert.com but I found that you've done an adequate job.
I'll probably just link to this thread.
I've onlt recently started my blog after I became sick and tired of all the scammers ringing me. Ok for me, I can work them out, but I feel sorry for the poor buggers who can't. Hopefully we can all help to steer them safely clear.
James
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your blog will be popular....
if you think its bad now wait until we actually do have a recession and then every shyster east of Perth will be peddling their goods.
if you think its bad now wait until we actually do have a recession and then every shyster east of Perth will be peddling their goods.
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I got a cold call from 1wealth today. A supposed 10 minute conversation turned into over an hour on the phone with them trying to talk me into taking out a loan or getting a credit card to pay for the $18,900 software system. While on the phone I was googling them, but I found almost nothing... except for the other sites already posted earlier in this thread talking them up, their own website of course, and this thread. I'm glad I found this thread, but at the end of the day I just can't afford to hand over 20k (which I made known fairly early in the call). Originally spoke with a guy named "Ronald" who had an accent, kind of British kind of South African? Then right at the end of the call when I thought we were hanging up, he asked me to hold a second... and another bloke came on the phone identifying himself as "Bob Barlett" from their customer service department or consumer support department (something like that).
I asked them if they're only interested in helping me (and 399 others) build a portfolio large enough to go onto their day-trading system, then why couldn't I commit to the software system, and pay for it out of the profits (i.e. they get the first 19k I make and then the rest is mine)? I don't think they were keen on my proposal.
Oh, and I clicked their Facebook link on their website. They have 2 likes. Yes, 2. They said they're into the final stage of rolling out the software package (aren't they always?). They've been rolling them out 100 at a time (per year) since 2010. If they've sold 300-odd packages, I'd have thought they'd have more than 2 likes on their Facebook page.
Smells a bit.
I do. The full name makes it easier for me to find the images. Do the same for photos of my kids & their friends too. I prefer using Tags but they often get stripped out when you transfer between computers.
I also use full names when loading up employee photos into a database or web site.
Please don't think my reply implies anything about 1Wealth's credibility, just answering your question on photo names.
By the way. I've been cold called by these guys twice, approx. 4 months apart. Each time they said they were down to the last 7, this morning / yesterday. But now they have 4 left.
When they call back, they usually only have 2 copies to go. And then you miss out as this is the final set of 100, out of the initial 400.
I found this site after I had figured out it was a scam. Got pretty close to giving them money too.
It took a phone call to Tim Maher (the Director of One Financial Corporation Pty. Ltd)) to find out they weren't the parent company of 1Wealth for me to realize. Since then I've been trying to warn ASIC and others about them. I put some negative comments on their facebook page but they got deleted straight away. Wish I had the computer/internet skills of the guys in here!
At the moment if you google "1Wealth" there isn't any negative responses on the first page. How can this thread be pushed up the list so it's easier for others to find? maybe if we write 1wealth 100 times it might help.
Thanks to everyone on here for your helpful responses.
Nathan
It took a phone call to Tim Maher (the Director of One Financial Corporation Pty. Ltd)) to find out they weren't the parent company of 1Wealth for me to realize. Since then I've been trying to warn ASIC and others about them. I put some negative comments on their facebook page but they got deleted straight away. Wish I had the computer/internet skills of the guys in here!
At the moment if you google "1Wealth" there isn't any negative responses on the first page. How can this thread be pushed up the list so it's easier for others to find? maybe if we write 1wealth 100 times it might help.
Thanks to everyone on here for your helpful responses.
Nathan
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I found this site after I had figured out it was a scam. Got pretty close to giving them money too.
It took a phone call to Tim Maher (the Director of One Financial Corporation Pty. Ltd)) to find out they weren't the parent company of 1Wealth for me to realize. Since then I've been trying to warn ASIC and others about them. I put some negative comments on their facebook page but they got deleted straight away. Wish I had the computer/internet skills of the guys in here!
At the moment if you google "1Wealth" there isn't any negative responses on the first page. How can this thread be pushed up the list so it's easier for others to find? maybe if we write 1wealth 100 times it might help.
Thanks to everyone on here for your helpful responses.
Nathan
yup hence I have quoted.
just dont know how these people live with themselves.
Sdajii
Sdaji
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If someone promises to make you effortlessly wealthy, be suspicious. If someone asks you for about $20,000, be suspicious. If someone does both at the same time, run away. I can't fathom how anyone can be sucked into these things. Before spending more than $5k or so on anything I'll do at least a couple of hours of research into it, which is a couple of hours more than the two seconds you need to see that these things are scams.
If you spend 30 seconds or so you come up with "Why would someone sell me something for $20,000 if they could use it themselves to make $50,000? That seems like false economy to me". If you spend a few minutes you come up with all the stuff everyone is talking about here.
I've had people try to scam me with other products, in a couple of cases they were more clever and I had to actually look more closely to work out what the scam was. In one case I was curious enough to meet with them in person to see their 'presentation' because I wanted to work out what the scam was. Someone I knew wanted to get into it (it was a shonky forex gig), he wanted to take them up on their offer to come and give their presentation at his house, just for the two of us. That immediately rang alarm bells - why would someone who can make incredible amounts of money come to us for free? They called and emailed both of us repeatedly to make a time - why would they put so much effort into us unless it was to extract money? Why would they be so keen to do that if they had a way to make their own money so well? When he arrived by public transport I found it amusing. Disturbingly, I had to talk the other guy out of getting involved, and only managed when I worked out how their scam worked (they were able to manipulate the forex rates within the platform you were trading from - they based their data on real data, but could tweak it to make your outcome whatever they wanted).
If you spend 30 seconds or so you come up with "Why would someone sell me something for $20,000 if they could use it themselves to make $50,000? That seems like false economy to me". If you spend a few minutes you come up with all the stuff everyone is talking about here.
I've had people try to scam me with other products, in a couple of cases they were more clever and I had to actually look more closely to work out what the scam was. In one case I was curious enough to meet with them in person to see their 'presentation' because I wanted to work out what the scam was. Someone I knew wanted to get into it (it was a shonky forex gig), he wanted to take them up on their offer to come and give their presentation at his house, just for the two of us. That immediately rang alarm bells - why would someone who can make incredible amounts of money come to us for free? They called and emailed both of us repeatedly to make a time - why would they put so much effort into us unless it was to extract money? Why would they be so keen to do that if they had a way to make their own money so well? When he arrived by public transport I found it amusing. Disturbingly, I had to talk the other guy out of getting involved, and only managed when I worked out how their scam worked (they were able to manipulate the forex rates within the platform you were trading from - they based their data on real data, but could tweak it to make your outcome whatever they wanted).
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Its a number game really, if they try and scam 1000 people usually 1 in that 1000 will think what the heck and give it a go.
I agree though, I dont know how people can be so stupid - the most obvious thing to say to yourself is "Why would they sell their secrets to me instead of just doing it themselves"
I agree though, I dont know how people can be so stupid - the most obvious thing to say to yourself is "Why would they sell their secrets to me instead of just doing it themselves"
I would really like to give a great big thanks nirrem for asking the exact questions I had and to stock guru for taking the time to use his/her outstanding research abilities.
My husband came home last night and asked me to look into the 1wealth company, he said he had been contacted a second time by them offering an opportunity to use their investment strategies. My initial response what he told me about them was 1.why would a successful company be chasing you and 2. it sounds absolutely ridiculous that they would suggest using a credit card as an initial outlay. However, I said I would have a look.
I found the article from investors daily, I read the blog from Tony Robinson and I started thinking that it all sounded pretty good. We have for a while now been discussing looking into investing in the stock market and on the surface I was thinking that this looked like a safe entry point but am so grateful that I had more questions.
I am so disturbed that someone is doing this, and I cant wait to hear what's said if calls my husband again.
Once again a great big thanks
My husband came home last night and asked me to look into the 1wealth company, he said he had been contacted a second time by them offering an opportunity to use their investment strategies. My initial response what he told me about them was 1.why would a successful company be chasing you and 2. it sounds absolutely ridiculous that they would suggest using a credit card as an initial outlay. However, I said I would have a look.
I found the article from investors daily, I read the blog from Tony Robinson and I started thinking that it all sounded pretty good. We have for a while now been discussing looking into investing in the stock market and on the surface I was thinking that this looked like a safe entry point but am so grateful that I had more questions.
I am so disturbed that someone is doing this, and I cant wait to hear what's said if calls my husband again.
Once again a great big thanks
I would really like to give a great big thanks nirrem for asking the exact questions I had and to stock guru for taking the time to use his/her outstanding research abilities.
My husband came home last night and asked me to look into the 1wealth company, he said he had been contacted a second time by them offering an opportunity to use their investment strategies. My initial response what he told me about them was 1.why would a successful company be chasing you and 2. it sounds absolutely ridiculous that they would suggest using a credit card as an initial outlay. However, I said I would have a look.
I found the article from investors daily, I read the blog from Tony Robinson and I started thinking that it all sounded pretty good. We have for a while now been discussing looking into investing in the stock market and on the surface I was thinking that this looked like a safe entry point but am so grateful that I had more questions.
I am so disturbed that someone is doing this, and I cant wait to hear what's said if calls my husband again.
Once again a great big thanks
I had already come to the conclusion that it was a scam, mainly because of the wild claims. This blog has given me more facts and opinions that have been re-assuring. Nirrem has really nailed the scam.
Looks as if they have gone up a notch and now are using mailing lists to suck in less computer literate victims. Last week I received a flashy, professional looking brochure via conventional mail. It contained no contact name, email address or web site. Just the phone number 1800 801348 and the AMP Centre address (sounds good), 50 Bridge St. Sydney. And it offered me a free computer if I was in the first 40 to respond.
I was highly skeptical because it just seemed too good to be true, and thus was most likely untrue. So I rang them to find out more. A so-called Colin Fraser rang back. When I asked for documented evidence that the 24 month trading log was generated in real time by their program, he just re-iterated that the figures quoted are verifiable through the Australian Stock Exchange. So it is safe to conclude that they have been generated retrospectively. Just like saying after a horse race these are the horses you should have chosen, and, yes, we have a program to do that. Just give us $18,900.
It was bad enough that the graphs showed at least a 100% return on investments per year (ignoring the up-front $18900), but dear old Colin stated that I could expect returns of 18% per month!!! Over 200% per year. And, yes I am lucky to be in WA because all available units have been sold in NSW and SA, but there are 3 left in WA, but I would need to commit (what? Financial suicide?) soon.
I am a recently retired guy who has been looking at investment opportunities. This is definitely not one of them, and I fear that this group of crims is now targeting elderly, retired, and hopefully with no computer savvy, via mailing lists using flashy prospectus-like brochures. These softer targets that won't get to see this blog until it is too late.
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Good research work guys.
I was sent a brochure out of the blue this week, unsolicited from them two days ago. A phone call the next day to see if I had received the brochure. "Carl" started ringing regularly saying there was only four packages left. I told them I wanted to navigate their program online with them on the phone, to which they agreed. Two hours later Graham rang again saying only two packages left and wanted a deposit to secure one of the last ones left for the year, supposedly.
Told them I wasn't prepared to commit until I had researched it and told them I wouldn't be doing anything until 8pm in the evening when they rang me. "Graham" said they would ring at 8pm if there were any packages left for Victoria indicating a rather exclusive club...I suspect a rather exclusive club of the "Ripped Off" -Buyer beware!!!!
I was sent a brochure out of the blue this week, unsolicited from them two days ago. A phone call the next day to see if I had received the brochure. "Carl" started ringing regularly saying there was only four packages left. I told them I wanted to navigate their program online with them on the phone, to which they agreed. Two hours later Graham rang again saying only two packages left and wanted a deposit to secure one of the last ones left for the year, supposedly.
Told them I wasn't prepared to commit until I had researched it and told them I wouldn't be doing anything until 8pm in the evening when they rang me. "Graham" said they would ring at 8pm if there were any packages left for Victoria indicating a rather exclusive club...I suspect a rather exclusive club of the "Ripped Off" -Buyer beware!!!!
I did another google search on these guys today. thanks goodness the aussiestockforums comes up on the first page as I think all the other results are pages generated by 1wealth, or their pitiful facebook page ( 1 like).
Most of the article pages are self promoting submissions to artcile submission websites. And we all know the fake blog too.
I have a website to tryto highlight these kind of scams. Someone from this forum contacted me about 1wealth and suggested that we need to keep our alerts on page 1 of Google. I will write a post about 1wealth and also link back to this forum post, and at least if I get a few clicks it will help us both get or stay on page 1. (dont worry, there is nothing to buy on my website..it is just informational)
I spoke to the government website Scamwatch this week to inform them of the companies I have been looking into, expecting to get some direction on investigating further, or have them take it from there, and also get the companies listed on their scamwatch list.
None of the above happened.
They wont list suspect companies, even so people can just take caution and do research. They dont investigate and they dont even make suggestions about how to get more done. Basically they do Nothing!
So it is up to all of us to get the message out the best we can.
james
Most of the article pages are self promoting submissions to artcile submission websites. And we all know the fake blog too.
I have a website to tryto highlight these kind of scams. Someone from this forum contacted me about 1wealth and suggested that we need to keep our alerts on page 1 of Google. I will write a post about 1wealth and also link back to this forum post, and at least if I get a few clicks it will help us both get or stay on page 1. (dont worry, there is nothing to buy on my website..it is just informational)
I spoke to the government website Scamwatch this week to inform them of the companies I have been looking into, expecting to get some direction on investigating further, or have them take it from there, and also get the companies listed on their scamwatch list.
None of the above happened.
They wont list suspect companies, even so people can just take caution and do research. They dont investigate and they dont even make suggestions about how to get more done. Basically they do Nothing!
So it is up to all of us to get the message out the best we can.
james
I'm so grateful for this forum. I was half an hour away from giving them my money. I was concerned about one thing that no one else has mentioned. It was a John Anderson who called me, who said he was a day trader for the company. The thing that concerned me was why a day trader was cold calling prospects, rather than someone in sales. I have had 3 calls in the last 2 days and my story is a mirror of those above.\
Again, thank you!!! I would have felt soooo stupid!
I too have been approached by these people and they are very persistent. There were many excuses / reasons for the follow up calls and even a reduced entry at 1/2 price with the balance taken out of earnings. This last call I think was a desperate attempt to get "something" so the scam maybe ready to close. As one of you have suggested the best test is to ask whether it is too good to be true and this one certainly is!! Good investments are rarely made from a cold call in my experience.
Why do we suggest that they could be located on the Gold Coast? And Has anyone actually used or purchased this software? would like to here there reviews on it, good and/or bad.
Financial scams usually are.
Looks like this one is on its last legs:
http://forums.whirlpool.net.au/archive/2140654
DO NOT get involved with this company. I have been scammed. I bought this program and I am undone....this person who phoned me under no doubt alias of Mark Tanner and Bruce Watson sold me this when I was at my very most vulnerable after the death of my twin sister just 10 days after. And even though I was crying on the phone scared about the purchase, I was hoping that this would secure a future for me and my children, being a single mum. I sank everything i had into this and was hoping to surprise my Dad with what I had gained from the inheritance he had given me. At that stage, the only reports of this company over the internet were glowing which I found out too late were all bogus. They have returned all mail not only from me but also fair trading. I will say again, I am undone. Beware.
Do not despair, you will rise rise above this. For what it's worth inform the Police fraud section
Do not despair, you will rise rise above this. For what it's worth inform the Police fraud section
Thanks for the encouragement. This is going to take a while.
