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Commercial Securities?

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Thank you for the advice contained within this forum. I myself received a cold call a couple of weeks ago from Queenbury Investments. From the posts here the approach offered by QI sounds exactly like the others listed here. Even got myself a lovely, very well done brochure showing how I could make around $74,000 over 10 months from a $10,000 investment. I must admit that I foolishly thought this could have been a genuine offer but after talking it over with a friend came to the conclusion that it seemed to good to be true, and thus thought it wise to do a bit of research first.

I even received a phone call from the manager yesterday to confirm my interest. When I told him I could not afford the $10,000 he told me I could start for as little as $1,000. I told him that I would need a few weeks to get that together. He then told me that for them to manage this for three years there would be a fee of $9.400. There was no mention of this in the brochure. Told him I wouldn't be able to come up with this sort of money that quickly. He told me they were going public and there were only some 200 places available. When I said I would have to decline he said he could do me a deal and get me in for $5,500 and said that with tax time coming up it would be a good time for me to consider investing my refund.

So after a lot of searching the web and not finding much in the way of helpful stuff one way or the other I found this site. I checked Queenbury Investments out on ASIC and while I could find their name I couldn't find a record of their acn number. I finally managed to locate them and their acn number and the amusing thing is that their brochure, for all it's professional look is missing a number in their acn.

Anyway thank you to all the people who have posted on here regarding this horse betting scheme. Thank you for saving me my money.
 
Nice post Nevyn, and well picked up.
How lazy, the Queenbury Investments website is almost identical to the Commercial Securities one. Pathetic aren't they.

So now for anyone googling Queenbury Investments...

Queenbury Investments is a scam, and Queenbury Investments is the same body as Commercial Securities who are proven scammers. Queenbury Investments are running the same scam based on horse racing or the thoroughbred industry.

Steer clear of the buggers.
 

Hang on a minute

They are Commercial securities? Is there any proof of this?

Whilst I can see the similarities in the way the websites are laid out and sorts of claims made, that doesn't make them a definite scam, or the same company on it's own.
 
No I guess there isn't any proof but

a) Before this forum discussion there was no proof that Commercial Securities is a scam (and may still not be, all there are here are people's posts, which could be based on real or fake experiences). This forum thread is still the only other significant Google hit other than the Commercial Securities website - and now that is true for Queenbury Investments. So it is a useful starting point for people to head to after getting a cold call from Queenbury.

b) The similarities between the websites, sales pitch, investment method, and pricing are all too great for Queenbury Investments to not be considered as equal a scam as commercial securities. Ie. they are almost identical.


Perhaps I should have prefaced my cautionary statement with "In my opinion..."
 
Those participating in this thread should only post:

  • Details of their own personal experiences with Commercial Securities, or;
  • Statements of fact that can be demonstrated to be true.

I don't want to see other companies or individuals dragged into this thread and accused of wrongdoing unless it can be supported by factual information.
 
If Queenbury Investments rang me, they would promptly find themselves on the receiving end of my "well practiced" hanging up technique.
 
My first questions would be: Why are you selling me $150K over 3 years for only $10K? Shouldn't you keep the "secret" to yourself and make much more money?
 
shiftyphil said:
I hope your technique involves a good blast from an air horn first.
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Not quiet, but the short retort as outlined on post 28 of this thread promptly followed by the firm placement of the handset on the receiver should achieve the desired objective.
 
Hi again guys,
I managed to get $1500 back from the bookie. After my 1st phone call to them, they got a further 300. The lying operator denied that I had rung and blocked the account. Also denied that they got my withdrawal fax. I emailed it and refaxed it and warned them against taking any more. After some heated emails, I got the account closed and the little money left, back into my bank.
The bookie was being difficult and they have reinforced my belief, that they are a part of this scam. I told them so and they vigorously denied it.
Why would a scammer, deliberately lose our money to someone else. That doesn't make any sense. There's millions involved, so they ain't going to give it all to the bookie. The bookie checks out as legit, if not honest, but something smells real bad. CS has to be getting a percentage.
Looking at their betting summary, one would get the impression, that they are compiled after the races. No one can lose that consistantly. Noting that they throw in the odd win, then cancel it out with further loses.
Anyone that has money left with the bookie, grab it before they whittle it all away.
Make sure to get the operator, to email that it is blocked. I never did that and got burnt.
When you send the withdrawal papers, email and fax them. Ask them to email you that they have received them. This whole process, seems to be a stalling process.
If you don't have the money in your bank after 3 days, hassle them.
Be warned. As long as they have access to the account, its going to get smaller not bigger.
 
This sounds like a conspiracy between many different companies i wonder how big it really is?

Thankyou Gary for the information you provided im glad i saved it before it was pulled. As my husband and i signed up with commercial, please message us here as we would like to know more about the real people behind this scam. Especially where their business is operated from, im sure the boss knows we know where he lives and will be getting a few sleepless nights from now on.
 
missmj said:
This sounds like a conspiracy between many different companies i wonder how big it really is?

Thankyou Gary for the information you provided im glad i saved it before it was pulled.
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I saw a post too that has since been removed. Perhaps the accusations therein were considered to be based too much on speculation with insufficient supporting facts.

missmj said:
As my husband and i signed up with commercial, please message us here as we would like to know more about the real people behind this scam.............
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Your anger is understandable, but thinly veiled threats to someone's well being that are potentially outside the law are not the answer.

All who have suffered loss should make a joint effort through writing letters to their elected representatives with the aim of having cold calling laws tightened. As I have said earlier in this thread, that would stop a lot of this crap.

Do you have any remaining trading funds with Commercial Securities ?
 
We have about 30% last time i looked it is hard to imagine that any profesionals could lose so much so quick. so many bets placed and it is hard to understand any method to the results.

there is another company called sportpunter who sells similar packages based on sports is this a scam as well? any feedback would be good maybe we can pull out our money and try another company as there is not a whole lot left they cant do any worse thats for sure.

Drsmith there was nothing thinly veiled about what we meant! we now know his home address hedges ave, he is obviously doing quite well for himself. Wait and see how he is doing in another few months time, i am sure someone will do something about him too many angry people
 
Hi missmj can you give us some more info on this guy. How do you know his home address? Any info would be good thanks
 
Those running Commercial Securities or similar don't give a rat's backside about what foolish subscribers to these kind of schemes think.

As for their private dwellings, it's a fair bet they have security commensurate with their business activities.

missmj said:
We have about 30% last time i looked it is hard to imagine that any profesionals could lose so much so quick. so many bets placed and it is hard to understand any method to the results.
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While you are scratching your head over that, take immediate action to withdraw the rest before that is lost too.

http://www.gansw.org.au/
 
Looks like they have done a runner, website is down and no answer on their phone. Is anyone else having any luck?
 
I have notice that the website has been down for about a week now I thought that is what that might have done but what is interesting is I left $20 in the account after I emptied it and they still seem to be putting bets on
 
They are back again!

"comsec trading [comsectrading@gmail.com]"

"Monday 12th July 2010

Dear Valued Member,


Firstly we would like to welcome you and introduce ourselves to you. We are your new Trading Team, we officially took over trading on the 21st June 2010, and decided to buy the company on the 1st July 2010.

It has taken a while to get you all set up in our new data base as we are very customer service based. It is at this time i would like to educate you on our way of trading, as we target approx 10-20% return per month. We are the best in the business at our job of punting, and we have a great team with over 60 combined years trading experience in the Industry."

They waffle on about how its all changed and they're going to make you rich.
Same old BS.

I think things may have been getting a bit hot so they're trying another tact.
They ain't even got a real email address. Hiding behind Gmail.

Anyway, I told them where to go with their BS
 
Another One1 said:
Hi missmj can you give us some more info on this guy. How do you know his home address? Any info would be good thanks
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i have been told by moderator to not divulge those details here. its a small world a friend of a friend signed up a few months ago with sure track technologies or red underline pty ltd. the same speil that we got he has lost his money every month too. he does not have internet but i am going to help him set up an account here to post his story. its funny gateway technology solutions which was a scam just google it and now sure track technologies they dont have much imagination do they
 
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