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Black Box Trading

Discussion in 'Trading/Investing Resources' started by nirrem, May 20, 2013.

  1. nirrem

    nirrem

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    Extremely interested in starting to trade and have been trying to do all the right things before l plunge in - heaps of research, stategy simulations, talking to other active day traders etc
    A few days ago I was thrown a huge curve ball when a company selling a Black Box program gave me the hard sell. Admittedly I was blown away by the facts and figures (e.g turn $2000 into $50000 over 2 years - based on published & verified historical data) and probably would have signed on the bottom line if I had the $19,100 required lying around.
    What is more confusing is that I can't find anything dodgy about this company on the net and in fact they seem to be quite reputable. Are these promises attainable or am I simply being seduced by the lure of high profits for little effort
    The company is 1wealth and any feedback - good and bad would be awesome
     
  2. Gringotts Bank

    Gringotts Bank

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    How very, very, very, very, very, very boring you are. :spam4:

    So boring I nearly went to sleep reading your trash.
     
  3. stockGURU

    stockGURU

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    1wealth you say. OK, let's take a look.

    1. Domain name registration

    Domain privacy enabled. Why are they hiding who owns the domain name? No legitimate company would do this. Domain name is 10 years old but has changed hands multiple times. It was probably dropped and they picked it up for the registration fee fairly recently.

    2. Who is 1wealth?

    The "Our People" section of their website names nobody. The website lists no company name. There is no address listed, just a 1300 number. They claim to have "offices across the globe" but again, no contact details. They claim to have won "countless awards" but again, no details.

    3. Social media

    The company claim to have been in business for a minimum of two years but their Facebook page was started in January this year. Twitter was started in February.

    4. Fake blogs and reviews

    If you search the web for "1wealth" you will find a number of fake blogs and reviews. All of them claim success but none of them provide any details about stocks bought and entry and exit prices, just ridiculous claims of 20%+ returns in a month.

    Based on the above evidence, I think it's safe to assume that "1wealth" is a complete scam. They are deliberately targetting those with no experience in the market. Their website talks about "keeping things simple" and not making things "complicated". They promise, "the lifestyle you dream about" and to "help you achieve your life goals".

    I would stay far away from this mob of snake oil salesmen.
     
  4. Gringotts Bank

    Gringotts Bank

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    How can he stay away from them? He is them.
     
  5. stockGURU

    stockGURU

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    I meant anyone else reading this thread.
     
  6. nirrem

    nirrem

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    Its a legitimate question not some hidden sales pitch
     
  7. nirrem

    nirrem

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    Thanks for your feedback
     
  8. Gringotts Bank

    Gringotts Bank

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    Yes it is. You're just a bit slicker than most.
     
  9. stockGURU

    stockGURU

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    Some more info on 1Wealth.

    http://www.justanswer.com/fraud-examiner/7re7q-hi-lucy-received-info-pack-1wealth.html

    Looks like they have been claiming to potential victims that they have been in business for ten years. The company 1wealth Pty Ltd was registered in January 2013 but they appear to be also using an older company called One Financial Corporation that has changed names, addresses and company officers multiple times.

    They are claiming that they received an award from a website called Investors Daily but this website appears to be a dummy website that they set up to give themselves a fake award.

    The domain name once again has domain privacy enabled to hide ownership and the website claims to have been launched in 1999 but the domain name wasn't registered until 2003 and a Web Archive snapshot from late November 2003 reveals that the domain was parked and not active: http://web.archive.org/web/20031126024420/http://investorsdaily.net/

    All of the stories on Investors Daily seem to have been cut and pasted from other sources and created in late March and early April this year. For a daily website they sure don't update that often. lol This is clearly a dummy website created to fool those they are trying to con.

    The closer you look at all the details and the deeper you dig, the more obvious it is that those behind 1wealth have spent a lot of time creating a facade around the company to make it look legitimate. Fake blogs, fake reviews, fake awards, and dummy websites, all created to fool those they are trying to scam.
     
  10. matty77

    matty77

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    Seems Legit.
     
  11. waimate01

    waimate01

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    [table="width: 500, class: outer_border"]

    Year
    Value

    0
    2000

    2
    50,000

    4
    1,250,000

    6
    31,250,000

    8
    781,250,000

    10
    19,531,250,000

    12
    488,281,250,000

    14
    12,207,031,250,000

    16
    305,175,781,250,000

    18
    7,629,394,531,250,000

    20
    190,734,863,281,250,000
    [/table]

    So stick with it for 20 years, and you'll be worth $190,734,863,281,250,000.00

    The total value of the planet is $195,000,000,000,000,000, so my only caveat is that really you should save yourself the subscription fee and exit the system after 19.8 years.
     
  12. nirrem

    nirrem

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    Had another call from them today and asked for their address.

    They claim to be located at Floor 34, 50 Bridge Street, Sydney (the AMP Centre)

    Web search states that this floor is occupied by Regus P/L who operate virtual offices

    I guess that says it all
     
  13. stockGURU

    stockGURU

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    Here's dummy website number two containing another glowing fake review: http://thetechnologyjournal.com/1wealth-stock-market-trading-program/

    As expected the domain name has domain privacy enabled to hide ownership details and the website has no contact details, just like Investors Daily. Even the QR code on the front page of the website to download their "Android app" is fake.

    A simple Google search reveals that they are driving traffic to the two dummy websites and their main 1wealth website using Google Adwords, hoping that the glowing fake reviews on the dummy websites will convince their prey that there is some kind independent verification that the software works and is consistently profitable.

    1wealth.gif

    But rest assured that this is just a very sophisticated scam. My only surprise so far is that I haven't found anything to link these scammers to the Gold Coast. I'm sure if I dig deep enough it's probably there somewhere. lol
     
  14. nirrem

    nirrem

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    They are aiming to "release" 400 licences at $18,900 a pop

    That's a cool $7,560,000

    See why they go to all the effort
     
  15. stockGURU

    stockGURU

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    Hard to believe it's all the work of one 26 year old English born scam artist, isn't it? Assuming, of course, that the only person listed in the 1wealth Pty. Ltd. current company extract is actually the person behind all of this. He's the one that has put his name to it anyway.

    I decided to take a look at a current company extract for 1wealth Pty. Ltd. and current and historical company extract for One Financial Corporation Pty. Ltd.

    The two companies appear to have nothing in common. One Financial Corporation Pty. Ltd. is a 10 year old company that has had numerous changes in company addresses, and principals. 1wealth Pty. Ltd, on the other hand, has just one person acting as both the sole director and company secretary, a 26 year old Steven David Cook, of 359/9-11 Crofts Avenue, Hurstville, NSW 2220. The address for Mr. Cook appears to be a small shopping centre in Hurstville with a seafood restaurant at the front. I note also that the company was initally registered in Queensland.
     
  16. Gringotts Bank

    Gringotts Bank

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    That's some pretty impressive investigative work SG. Why not forward it to Fair Trading and get him shut down? Or even better, A Current Affair, and we can all tune in and watch him get harassed in his digs behind the fish shop?!!
     
  17. nirrem

    nirrem

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    The deeper you dig the more interesting it gets!!!!

    Thanks for all your effort
     
  18. nirrem

    nirrem

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    I was checking out this blog

    http://does1wealthsoftwarereallywork.blogspot.com.au/p/about-this-blog.html

    and did a Google Image search for the picture of Tony Robinson. Not surprisingly results came up with another person. Unfortunately it wasn't Steven David Cook but Richard Pearce an English Chartered Surveyor / Project Manager. Not sure if there's any connection or the blogger is just using that image randomly.
     
  19. skyQuake

    skyQuake

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    Looks like they stole this from google image search

    Also,
    File name: Tony Robinson.jpg

    lol

    who names a photo a full name? Only 3rd parties.
    bali_break.jpg or DSC1000343.PNG would be far more believable.
     
  20. Rock

    Rock

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    I have been approached by this company as well and was thinking the same, until I came across this forum.
    Have been doing some checking of my own but not as much as what was found here thankfully cos I was ready to take the plunge. Thanks to all for your input.
     
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