Before you invest – Investigate !

There’s a great article here at about investment fraud and techniques used by swindlers to seperate you from your money. It’s not just about Forex fraud. It can apply to any ‘investment’ area.

It’s a long and comprehensive article, so grab a cup of tea and sit down to read it. It’s well worth the investment of your time if you’re ever thinking about investing in anyone else’s scheme.

Catch cry of the article is:’Before you invest – Investigate’ !

read the article here

23 thoughts on “Before you invest – Investigate !

  1. Phil


    Entity name: Wealthrite Pty Ltd
    ABN status: Cancelled from 11 Jun 2013
    Entity type: Australian Private Company
    Main business location:
    QLD 4214

    Cold call trying to find out about my super situation. wouldn’t tell me where they got my number.

    Do not give any info to anyone who calls you out of the blue.

    The limited information they initially had on me sounds like they obtained my info from the same place as some jokers spruking “My Alfred” that sounds like another front as “FB Trading”.

    The My Alfred/FB Trading is a complete scam. I feel sorry for anyone that has fallen for this scam and I hope someone can track these jokers down and shove them in prison.

    I’m very disappointed that young Australians have taken up working for these people and that this sort of thing is going on here. Normally it’s coming from countries like India or Nigeria and am surprised they can get away with it here.

    Scammers or call centre monkeys that are reading this beware, the rules in Australia are not like in 3rd world countries. You cant just bribe the police that come to your door… and we are not as big as the states where the police have better things to do than track down a scammer. Your time is limited. If the police don’t get you, you better be really good at hiding. People don’t like it when scammers take money from our parents, grandparents, aunties and uncles, neighbours. Watch your back!

    1. admin Post author

      Where did you dig up those ABN details?
      They don’t show up with ASIC as far as we can see.
      The only Wealthrite we can find is currently registered.

      There are two other Wealth Rite businesses, both on the Gold Coast.
      A web search also currently shows as being at Bundall, the old scammer hotspot. Not saying anything..

      The registrar for that website has had their ABN cancelled from 2019, not that that necessarily means anything either.

      They fail to mention their AFS licence on their website, though they do refer to it on their Truelocal listing. If they don’t have one, and are not providing financial advice, is that how they get around cold-calling people?


  2. admin Post author

    Simon and Adrian, have you checked the page here?:
    Jack Dourmani was arrested in 2015.
    We don’t have any follow-up on the case. We believe they were also involved in Laybet Professionals and other scams.
    They are also detailed on other pages here. Use the search function.
    There are also details of the investigating officers to contact, but not sure if they are still involved or not.

  3. Mr C

    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.


    1. ben

      HI, i to have had the exact same experience, i have paid 10k for 5 pairs and now am at 2 weeks later and they are ofering a total of 44pairs for another 15k. I am curious to know, if you are still using their software? and if it is paying dividends?

      1. ben

        Just to clarify my 5 pairs are doing great and have made over 15% in 3 weeks. the market is very volatile at the moment but the FB Markets software seems to hold up well, and overall come out well on top.

        1. James

          Sounds like You work for F B Trading Ben aye?? … I can Tell you from experience
          They Are Scammers. With Isaac, and Mathew, Sean and Tracy. I actually paid for more pairs! and they wer’nt put on my account. They just took my money and gave me nothing. ” Their Day Will Come “

  4. Scammed

    Totally agree with @Michelle Peters. Charter Prime is legit but FB Markets Pty Ltd are a scam. They convince you that they have trial period to lure you into the scam. Trial period is only for one pair of currency which is not indicative and they say you have to pay $11k for more currency pairs. They convince you to try by paying and provide 10 day cooling off period (by law) but after the cooling off period ends and you want a refund they tell you they can extend cooling off period etc … and as predicted, they would not answer your call and you will not get your refund.

    Please spread this out so these guys cannot scam and they all lose their jobs.

  5. carlo

    hi I am looking at Fibonacci Trading Pty Ltd
    any bad or good reviews?
    I had my broker account with Berndale capital who are under investigation and the site is closed but I have contacted ASIC and made a compliant
    FB Trading was using them as the broker for there Forex system?
    I checked around and no bad reviews on them.
    please advise

    1. admin Post author

      They cold called us a while back trying to get us on to their program.
      The association with Berndale put us off. Sounds like we were right.

      FT were flaky with call backs and evasive in answering questions. Not even sure where they are really located.
      Treat with a high degree of caution.

    2. Carleen

      Hi Carlo. I have FB trading on test. Looks pretty good. Made a reasonable profit for 3 weeks. How did you go. The broker tbey use now is Charter Prime which seem OK.

      1. admin Post author

        The above poster has failed to respond to an email request to provide some evidence.
        Treat as a fake for now..

      2. Michelle Peters

        CharterPrime is legit and an honest company. FB Trading ARE NOT. They cold call and mislead you until you pay the ridiculous amount of money they ask for the software. Once you realise that you have been misled and request a refund they become bullies and refuse. They ‘stand by their software’ yet they lie to people to get them to buy it and won’t refund the money under any circumstance. They are dodgy. Constantly changing their name so that a Google search doesn’t bring up that they are scammers! They go by FBM expert, FB Trading, F B Markets Pty Ltd. Avoid, avoid, avoid!!!!

  6. Chris

    Hi, just wanted to find out some info about a company called
    They called me and said they’d call back within a week with some information regarding tax incentives for homeowners …

    1. admin Post author

      We can’t comment on Wealthrite specifically, but there are several (or maybe they are the same) companies that ring telling you they have information on (new) tax incentives to help you pay off your home loan sooner, help pay for your retirement, etc.
      They are usually based in Qld, Gold Cost. Some are very evasive about where they really are.
      You usually have to pass some ‘qualifying’ criteria. Who knows..maybe everybody passes.
      Investigation in to some of them has shown that they have no new information on tax incentives, and they are usually just trying to get you to invest in investment properties, that they are the owners or developers of.
      Always beware of people ringing out of he blue offering to save you money.
      While the investment into property can be a way to reduce tax through negatively gearing, we’d suggest speaking to your own accountant before getting too involved and if you are looking to proceed after that, make sure it is your own, independent choice of property, not one that the company is recommending you buy as most likely they may have some vested interest in it.

  7. Manny

    Cold Trading International is calling me to invest by buying their Software platform called “PureTrader” and according to aussie scam alert they used to be or are same people as the Charterhurst.

  8. Simon

    I was scammed out of my life savings a few years back and I’ve been looking to become part of any class action against those involved with Chartehurst or Laybet professionals. Can anyone tell me if there is such a thing going on.


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