Welcome to Aussie Scam Alert.

Here we try to expose scams operating mainly in Australia, but also some overseas ones targeting Australians. Not every business reviewed here is a scam. Some will be fine but are so closely associated with areas of mistrust that we feel it is in the public interest to review them. Please read our Watchlist if you can’t find what you are looking for on any of the other pages. The one you are looking for may be on our radar as one to watch out for. We can always do with information about any of the scams covered here, and also any ones that we have not heard about. Please help keep others safe.

All views expressed are opinion, presented in the general interest of the public. You should always do your own investigation and consideration of all facts and testimonials. If you would like to know about Why we operate, please read our About page.

We’ll leave you with wise words from ‘The Richest Man in Babylon’ . Take note of No.5 !

The Five Laws of Gold

1.Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.

2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.

5. Gold flees the man who would force it to impossible earning or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.

Ballantyne and Barrows

Ballantyne and Barrows , along with EIFO Exchange

ballantynebarrows.com , ballantynebarrowssolutions.com , eifoexchange.org , eifoexchange.com , eifoexchangeonline.com

This is a company that calls out of the blue, supposedly from England, in what must be the middle of the night for them. The guy I spoke to says he is on the Australian shift as they have thousands of clients in Australia ( yeah right).

So they’re selling trading advice that apparently does really well. ( I can’t understand why this guy needs to work in the wee hours of the morning if he could just be trading a couple of hours during the day and sleeping like other people during the night.)

You have to do your trading through their broker: Elite International Futures and Options Exchange ( London). None of the EIFOexchange addresses listed above take you to their website anymore, except for a customer loin page for eifoexchangeonline.

They claim to have been around for 27 years.
All the websites were registered just this year.
Most are registered with domain privacy through a company in Nobby Beach Qld.
Australian connection there??
You’d suspect that they are ringing from Australia rather than the UK too because of the times they call at.

Neither Ballantyne and Barrows, nor Eifo Exchange are listed with the Financial Conduct Authority of the UK

The guy I spoke to gave me a registration number to check on for himself. Problem was, he was only registered with EIFO and not with the FCA as a registered broker. We’re pretty sure EIFO and Ballantyne and Barrows are part of the same team.

We’ve had a couple of emails from people who say they were lured in by advice on stocks about to move that they could buy options on. The trades went ok, but when they came to make withdrawals, access to accounts and communications ceased.

If you’ve had any dealings with them, please get in touch with us.

Bet WIth Us 365

betwithus365 , bwu365.com

Another reinvention of the old ‘forgotten betting account’ scam.

They ring you up to tell you that they have an old account of yours on the books….that used to be managed by a third party, who were located on the Gold Coast (of course).
They will then tell you that there is a substantial sum of money in there..in the tens of thousands of dollars…’What would you like to do with it?’

WIthdraw it of course!
Well they can do that but first there’s a small matter of paying back a credit that was used to start the account (apparently). $4,000 or so.

They are unable to simply take the fee out of your account and send the balance to you…for ‘legal’ reasons..

If you don’t want to pay they can close the account and take the earnings for themselves.
I don’t understand how they could manage to do that but they can’t take a fee out….for legal reasons

Is BetWithUs35 a scam?

Of course it is!

Just like many before: SportsAllBet, Sporstbet247, BetOTL, Brookshire Traders , Kensington Trade… to name just a few!

Their IP is in Russia like most of the others and they claim to be in San Jose, Costa Rica, just like most of the others..

They say they have been running for about 8 years yet their website is only registered from 2016.

Get this straight: if you send them the fee you will not see that money again, nor any of your ‘account balance’. Many have been taken by this scam.
Learn from them!


Exelon Group

Seems there is a new group operating that bears an uncanny resemblance to the Laybet Professionals scam ( which then became Charterhurst Agencies)

They sound like they’re peddling the same or very similar software, laying horses on Betfair to win ‘90% of the time’. Exelon Group are even at the same address as Laybet Professionals used to be, 128 Bundall Rd, Bundall , the notorious old Coast scammer hotspot.
Update: now they have an address in Varsity Lakes, but it is just a mailbox.

The two (alleged) principals of the Laybet Professionals and Charterhurst Agencies scams are now facing court,

The following comment appears on Aussie Criminals:

“Scam Alert | Aussie Criminals and Crooks

Thanks Mike,they ( Exelon Group) run me past a demo weeks back and the main trader attached my betfair account to his system that he uses over 2 days trading. it actually turned over $200 profit for me & i asked if i could speak to a client (even though they could give me a fake person ) that bought a system and has had it for a while to see how they were going with it .but said he couldn’t give any contacts out as per the client priviliges or protection law or whatever ? was reluctant to let me contact anyone, but said we could come in to the office any time to meet. He said they were attached to an IT financial company under a umbrella corporation …if i have that right ! So not sure !!”

Sounds like the typical kind of excuses/spiel from scammers.

December: we are starting to get reports now from people ‘investing’ with them. Accounts are losing money and what’s more, are designed to lose and then the client gets the upsell for the ‘improved’ version.
Have also heard of them weaseling their way out of the 10 day cooling off period obligations, refusing to honour it and refund payments.
These are exactly the same tactics that Charterhurst and Laybet Professionals used.

Update 27/1/17: This just in from the Brisbane Times:


We suggest exercising a HIGH degree of caution in dealing with Exelon.
Be wary of signing contracts with a 10 day cooling off period. The previous iterations of this company are notorious for not honouring them.

If you’ve had any experience dealing with them please get in touch with us!

One LIfe

Not much time to write this report, but it seems Roy McDonald is still at it after years of complaints about his ‘wealth’ seminars.

His current business is under the name of One Life , onelife.com.au

A good place to start reading about his seminars is this article from the SMH


There’s plenty more if you search the web.

On their Facebook page, there’s a disturbing lack of comments relating experiences at the seminars. All we see is people going in, and then nothing..

While it may be argued that the seminars are transformative, they are not transformative in the positive way that people expect.

Also there’s a brilliant piece on this by Denise Brailey, (now head of the Banking and Finance Consumers Support Association )

you can read it here where she not only explains some of McDonald’s schemes , but also the buck passing that goes on between ASIC, the ACCC and Fair Trading.


Harry Omeros charged with Fraud!

Breaking News! Harry Omeros has been arrested and charged with fraud.

latest update from the Gold Coast Bulletin says that he has scammed over $400k from 12 people. We think they rather understate the figures! So, if you’ve been scammed by any of the below businesses please get in touch with Qld police!



Freedom Circle

yet another binary options scam..

this time brought to you by Kyle Stanford ( if he really exists, which we doubt)

First red flag: you can earn $5,000 a day with only 30 minutes work, just by clicking a few buttons!

No risk!

Yeah, right.

One of the video testimonials features an actor who also did  a testimonial for another scam we feature, Asset Solutions Australia

binary options scam

binary options scam

They go on to tell you in the introductory video how sick they are of online scams and they would never be like that, taking money off people who are just trying to get ahead.  Gee, they must be such nice people.

Please don’t be fooled by this rubbish. You will be asked to open a brokerage account where you will have to deposit a minimum amount of money. The scammers will make a commission on this deposit. That’s all they want. They don’t care that you will lose your money using their ‘no fail’ trading system.