Category Archives: Uncategorized

Timber Hill scam raided on 60 Minutes

6o Minutes recently aired a segment that covered the investigation into and the raid on a group running several scams including the Timber Hill scam, which was a clone of a real business.

The investigation work leading to the raid and arrests was done by private investigator Ken Gamble and his company, IFW Global, in the Philippines.

The scammers also used Australian bank accounts to lure their victims into thinking their investment would be safe.

They reckon as much as 13 million AUD was scammed just in January this year alone.

They highlight how this is major financial fraud/crime and Australian authorities do extremely little to combat it.

More also at:
https://blog.ifwglobal.com/blog/32-arrested-in-boiler-room-raids-to-bring-down-international-crime-syndicate-targeting-australians

https://www.offshorealert.com/Forums.aspx?g=posts&t=58721

Zurmont Capital

Zurmont Capital have been making cold calls to induce people into buying into their Managed Investment Fund.
They claim to be in Melbourne , and the UK, and head-quartered in Switzerland.

They emailed a Prospectus, but it turns out to be just a very basic brochure.
By investing in their Zurmont Multi-Fund you can expect 18.2% p.a. return on your money! With very low risk they add!
No detail about previous years returns. Just a breakdown of how they might allocate funds for diversification.
After reading about who they are and what their mission is you are offered to fill out the application form and send it in. After that you will be sent an invoice. Only after you pay would you see your fund allocation and all documents.
There is nothing in the prospectus with details of how the fund is run, where monies are held, what happens if you want to leave, etc, etc.

It’s a very flimsy offering.
To top off the flimsiness,
they have no ABN
and they have no AFSL, even though they are dealing in a financial product.

Further investigation reveals that the domain for their website was only registered in November 2018.

If there’s not enough uncertainty about their credibility, we also checked on some of their Team who were featured in the prospectus..
There’s Josh Jackson, who they tell us has had ‘9 experiences in the legal field’

Zurmont Capital

who we found is also  Dental Technician:

Zurmont Multi-fund

Next there is Sally Hansen , who has ‘financial management experiences’

Zurmont fund

who also advises:

Fake MobileCiti callers

Just a quick heads up that there is a mob cold calling people claiming to be from MobileCiti.

MobileCiti themselves are a reputable mobile phone retailer and never call people offering them phone plans

The cold callers offer to upgrade your phone but it’s all very suspicious.
For instance they offer unlimited calls, text and DATA, no matter what service provider you are with. We don’t see how they could possibly guarantee that, especially the data.
The emails come from the domain mobileciti.net which is not the official domain and website of MobileCiti.
They also call on very bad telephone lines and sound like they are in an overseas call centre (not that Aus companies don’t use overseas call centres..just not for sales calls though).

They ask for you to give them your driver’s licence and Medicare numbers before you even see the phone or contract or fact sheet.
They refuse repeated requests to see the contract, saying you have to sign up before they can send you the contract.

When quizzed on where they, they have no idea of what the address looks like where they are supposed to be.

Our advice is to stay well away from these offers. It’s a scam.

Emerald Sports and Cloverleaf Bookmakers

emeraldsports.co.uk
cloverleafbookmakers.com

These guys are running a scam with a very familiar spiel:

That they’re in the UK and have thousands of Australian clients, so they are moving here to set up an office in a few short weeks.
They tell you they’ve been in the business as sports analysts for 40 years and have 500,000 clients in 20 countries, AND they always make incredible returns of 200% a week!
Oh wait, the other email says 100,000 clients in 23 countries…
To add to that they have selected to work with one of the most reputable bookmakers in the world , Cloverleaf Bookmakers.  Funny, we’ve never heard of them, and there is zero talk about them on the web. Nor is there any talk about Emerald Sports, even with their 40 years of unparalleled success for their clients.
Both websites were registered on 15/11/2017 and both have their name servers with the same host. Funny.

Cloverleaf Bookmakers, meant to be in Dublin, are not registered in Ireland as a bookmaker.
But maybe that’s because they only take online bets, and only in US dollars….weird.

As a welcome offer to the first 2000 Australian clients they are enticing us with deposit match bonus of $5,000 USD, tickets to Blue Ribbon events around the world including airline tickets and accommodation (imagine the expence for even 20 clients!) and tickets to their annual charity ball.

So full of BS , it’s a joke.

Door to Door sales scams

We’ve come across a great video presentation about a Door to Door sales scam.
It’s from Canada, but their laws and consumer protections are similar to our own.

We often get calls about installing free LED down lights, which makes us wonder if there’s a catch?

In the case in this video, supposedly free water and air filters end up costing in excess of $10,000 over ten years!
Definitely down sign anything on the spot to cold callers, whether on the phone or at the door.
Make your parents aware of this too as the elderly can be even more trusting and vulnerable to manipulation than the rest of us.

If you do sign anything, get a copy before they leave and get someone else to look it over. You always have a cooling off period.

check it out here:
https://ethanvanderbuilt.com/2018/05/08/door-to-door-scam-ontario-home-services/#more-15105

Alipay IPO

There’s several companies doing cold calling at the moment offering discounted share acquisition in the pre-IPO for Alipay, or more correctly Ant Financial Services.

Watermark Securites, New York
International Wealth Accounts , Hong Kong, internationalwealthaccounts.com
Essence Securities, China      ( there seems to be a legitimate company called Essence Securities but there may also be an impersonation. Be careful)
JPR Global, Japan
Equity Consults   equityconsults.comEquity Consultancy
Alliance Consults, Hong Kong
Equity Securities
Prudential Securities , New York
Ideal Services DC , Canada
The Adam Group
and no doubt more…

They usually run along the lines of  something like they tell you that you can buy at the current share price of $12.50 (but they also say they bought a whole heap at a lower price and will also give you the shares at this lower price too), and that then this will be worth something ranging from $35 to $160 at the listing day, depending on which company you are talking to !
Watermark Securities couldn’t even say how many shares will be issued in the IPO, which makes you wonder how can they know what the shares will be worth??  (although one call they did say they owned 20,000,000 shares out of a total of 50,000,000 , because they have such a good relationship with Alibaba! BS )

If you send your money to some faraway jurisdiction on little more than a promise from someone you’ve never heard from before, Don’t expect to see it again.

Further discussions can be found :
https://www.sharetrader.co.nz/showthread.php?11109-Alipay-ipo-scam
https://hotcopper.com.au/threads/alipay-ipo.4118128/#.WvkooCC-nIU

also more thoughts here:
https://www.bloomberg.com/gadfly/articles/2018-02-02/an-ant-financial-ipo-got-you-excited-not-so-fast

and then you should just Google : Ant Financial IPO and read everything on the first page Before you even think about doing anything else.