Welcome

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.

Also, it’s worth having a read of Before you Invest – Invetisgate! 

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.

FB Trading

The following is from a comment by one reader on another page on this site, but it tells all about his experience with FB Trading.
They have been on our radar for some time but regrettably we haven’t done a write up.
They had been ringing around trying to sell their automated trading platform.
As always with these things, they have a high buy in value, no verified live trading account record. They only offer a brief trial period..days, rather than months.
Sounds like they mislead and also keep milking for more money by the following commentary:

Hi regarding FB Trading.
Anyone else had bad experience with the company?
I have spoken to the following employees, Mark (who also Known as Kal) Isaac, Tracey, Joanna, (Sean & Denis managers)
Nov / Dec 2018 I was another person who was took their trial offer of $1000 and the broker was Berndale capital. I have a claim with ASIC for my funds and when I spoke to Mark he said I should get my money back from ASIC but still waiting. I have a claim with ASIC who is investigating Berndale.
Then I to was mislead & roped into buying a auto bot system 15 pairs for $12100. Normally $28600. In Jan 2019 then 2 weeks Later they offered the other 64 pairs plus 5 Crypto currency For $10000.
Please keep in mind I was new to forex. They set up the system Vortex FX bot as they are the experts and followed there advise. They set up with not stop losses in place. They said (Mark) that’s how the system works the best this way and the market will correct it self.

I was told that I didn’t have enough funds to open all the pairs only 10 pairs were switch on. Hence I brought a product that I can only a small % of. Once it started trading, The system In most of the cases, will have up 5 of the same pair opened in the same position and if it went the direct of the trade in the positive way it would take profit of a small amount. However with no stop losses in place it would have a greater loss amount. I ask them to stop the trading and let the 50+ opened negative position to closes off. I had Isaac give me their Alpha program (normally $100k to buy) for free. Because it had stop losses in the system. I found out later the vortex system could have stop losses in place. He switch it on and lost more of my funds. I told him it doesn’t work. He opened a demo acc $50k to prove to me the Alpha system works. But the demo account is at $41k loss plus floating at -13000k equity around the $31k Earlier this year they told me they didn’t have a demo account To show me only the trial offer. I told Isaac to Stop trading again and now I’m waiting for 8 positions to trade out. They have been opened from early 2019.
I was sold a total system that I could not use all the pairs because of my Trading account Was to small. No one told me until after the fact. Once they got there funds. Mark guaranteed me over the phone I would pay off the system in 12 months. It was an average return b/w 7-10%. Per month & A min of 1-3% per month. Listening to the video and looking at their (I believe Now a fake) trading history Data (which has no Swaps or spreads showing looking back at it now once learning and educating myself, should show the swaps and spreads.

Please share any thing regarding your experience with Fb trading Pty Ltd / FB markets Pty Ltd or Fibonacci Trading Pty Ltd.

Capstone Litigation

This one looks like a recovery scam.

Website is capstonelitigation.com
(remarkably new..only registered in January yet they are meant to have been around since 2004)

They are contacting victims of some scams originating in the Philippines and saying they have located a pool of money and can get lost monies back to victims.
Of course there will be a 5% fee..
Possibly taxes..
Possibly other ‘release’ fees..

We know for sure they are targeting victims of a scam company called True Green Energy Group, possibly others.

One mistake they have made is that they claim to be in partnership with Interactive Brokers who are a highly reputable worldwide broker.
We were able to confirm with Interactive Brokers that there is no partnership with Capstone Litigation.

no IB affiliation

Capstone litigation and IB

Avoid paying them any fees on the promise of your monies being returned to you!

Gemini Capital Markets

Yet another cold-calling company, Gemini Capital Markets, has been ringing around and trying  to get people to buy into a managed trading account.

One person we spoke to, told us that they told him that the Chinese market was crashing ‘as we speak’ (it wasn’t..in fact the Hang Seng index they were referring to was up for the day at the time) and it was because Trump had just announced new sanctions against China (he hadn’t) and that all the major institutions are pulling their money out of China.

We did some checking..
Their website is geminigroupltd.com.
Looks a little plain. There are a few comanies sounding like Gemini Capital and there is even a Gemini Capital Markets that seems legit, but with a different website.
Can’t tell for sure but they may be taking some details from a legitimate, licensed company.

Anyway, decided to check out some of the people from the Team on their website and see if they pop up anywhere else..

There’s Edward Harrison, who is seen pondering at his desk:

Gemini Capital Markets scam

Looks like a stock photo..and turns out it is:

Gemini Capital Markets scam

Next, we have the thoughtful Daniel Andres:

gemini capital scam

also a stock photo:

Gemini Capital scam

And finally, the representative who spoke with our contact , Ron Norton. Not featured on their team page but did have a Linkedin profile:

Gemini group ltd scam

after some tracking down we found his mug shot at a portrait agency:

The company kindly confirmed that this is most definitely NOT Ronald Norton!

’nuff said. Scam.

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.
And as of February 2020 they are still at it!
Their main purpose is Identity Theft.

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.