Category Archives: Uncategorized

Cold Trading International

Cold Trading International seem to be the next step in the chain that has been Laybet Professionals, Charterhurst Agencies and Exelon Group,.

What we do know about Cold Trading International:

They set up their website in June this year.
They registered their ABN in May this year.
Their Director uses an address at 10 Albert Ave, Broadbeach in Qld.
Exelon Group also uses this address. It is a business location that hires out mailboxes.
We would have though that the Director needed to give ASIC a real residential address.
They claim they have their office in Brisbane, but their bank account is in Bundall on the
Gold Coast and their mailing address is Broadbeach.

They are charging $10,000 for the basic software, and you get a laptop as well for the price.
This has been the MO for Exelon, Charterhurst and Laybet Pros. By giving you software and a laptop, they believe they are fulfilling their obligations to the agreement you sign, and you then have no claim against them if the software doesn’t work. ( this will be tested in a coming court case involving Laybet Professionals and Charterhurst Agencies)

Are they Cold Trading?

By definition, Cold Trading is when you place both win and lay bets before an event starts in order to try to extract a guaranteed profit no matter what the outcome of the event.
It is a legitimate trading technique used by many people.
You can learn the techniques in courses that are normally a couple of hundred dollars.
(still takes a lot of practice to prefect though).

Cold Trading Int are not doing this. They use their software to place lay bets on horses before the race starts but do no other betting in the event that that. ( Just as Exelon etc did too)

Comments regarding Cold Trading Int

Apart from the comments below there are also some on our Tell Your Story page, one of which is this :

“Would love to. Initially I received a pleasant telephone call from “Rebecca”. Once I’d shown a little interest I was passed up line to “Steve”, claims his name is Steve Escott. Being a battler I only coughed up $3300 initially but them was enticed to top it up to $5000. Fool that I am, I did.
I received my software and manual and surprise, surprise I couldn’t even get a single bet accepted by the system. After numerous messages left for Steve and an email to admin@coldtradingint I had a call from Steve who admitted that there was a problem with the software and they would send me another but to maximise my returns I would need to add $5500 as his partners were uneasy about the “deal” he had offered me. I again scrapped up the 5500. I was still unable to place a bet. Days later I was asked to step up to the big league with the professional team but needed another $10000. When told there was no way Steve applied the pressure- get it from your friends, try the bank, add it to your credit card the returns will pay it off real soon or if I have enough Super get it from there but that may take time and the deal won’t be on the table. This time the alarm bells were ringing and since I told them in a text message, I can’t get the funds I have not been able to contact them nor have they contacted me. The first alarm bell was when I was asked to send extra money to IFP. (The syndicates) bank -separate from Coldtradingint.com.
I lodged a complaint on scamwatch but have resigned myself to not seeing any of this money again.”

A good lesson (too late in this case) to be on high alert of you are pressured to purchase, pressured to upgrade to the next best thing ( even when the first version doesn’t work).

We suggest using a high degree of caution if considering investing in this. Be willing to lose ALL of your investment.

 

Triple Seven Brokers

triplesevenbrokers.co.uk and their bookmaker, sportsbet365.co

This is another resurrection of a scam that has been going on and off for several years.

They cold call, telling you they are expert sports analysts and can make you vast sums of money with NO risk through sports betting.

They will tell you that they have just started expanding into Australia and have an 80% success rate.
What they don’t tell when pressed is what their average dividend is. They go on and on about their strike rate over 17 years so are supposedly basing that on stats, yet they have no clue what their average dividend is. They’ll say something like, ‘it depends’, or ‘it’s between 1,20 and 5.00’. Just shows they have no clue about betting and yet they are meant to be experts.

Triple Seven Brokers claim they have been operating for 17 years and are regulated by the Financial Conduct Authority in the UK.
You won’t find them in a search of the Financial Registers .
Their website was only established in July, and the owner gives his address as Slovakia.
They say they have thousands of clients in Australia already ( even after just three months of operation??) Hard to believe, especially given the lack of chatter anywhere on the internet about them.

As for their betting, they say there is no risk yet they might bet 80% of your bank on one selection. What if it loses you ask, what then ? They say, ‘There’s no risk, you won’t lose’. Even though by their own admission they lose 20% of their bets, apparently they never lose ???

Ok, so say you believe them and want to go ahead.
You have to open an account with their bookmaker, not your own.
Fair chance they also own the bookmaker’s site.
Because if they are placing so many winning bets with any legit bookmaker they would be banned because they’d be sending the bookmaker broke ( especially as they even get discounted odds with the bookmaker!).
The bookmaker site was registered last year and updated in July.

Here’s the likey scenario if you sign up, even with a small amount:
Everything will go well at first and you’ll have many winning bets. Who can tell when or whether they were placed. You seek a withdrawal and will be asked to pay the 20% commission. Then you still won’t see your money, or if they do let you make an initial withdrawal, you will be enticed to deposit more next time and let them build your account to some astronomical sum like $50,000. You’ll be asked to pay $10,000 to get the rest of it out, which won’t happen even after you pay up.

Avoid.

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:

http://www.brisbanetimes.com.au/queensland/man-extradited-from-south-australia-over-alleged-6m-scam-20170126-gtzo0o.html

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

http://www.smh.com.au/articles/2003/09/12/1063341768117.html?from=storyrhs

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.

http://www.fatherdave.org/Rave/SMW/Denise-Braily-article.htm