• Report: #298202

Complaint Review: Chuck Hughes Inner Circle, Chuck Hughes, Profit Partners Inc., Profit Enterprises Inc.

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  • Submitted: Tue, January 08, 2008
  • Updated: Sat, February 16, 2013

  • Reported By:Grants Pass Oregon
Chuck Hughes Inner Circle, Chuck Hughes, Profit Partners Inc., Profit Enterprises Inc.
www.chuckhughes.com www.failsafenow.com Nationwide U.S.A.

Chuck Hughes Inner Circle, Chuck Hughes Chuck Hughes Inner Circle, Chuck Hughes, Profit Partners Inc., Profit Enterprises Inc. Bogus "Guarantee" for Valuable Investment Advise REQUIRES to invest in losing stock and options positions! Internet Internet

*General Comment: Comments on "pump-and-dump" marketing

*Consumer Comment: Chuck Hughes offer jan, 2012

*Consumer Suggestion: Advisory or Learning or Rip off

*Consumer Comment: Do You Really Want To Help Others To Make Money?!

*REBUTTAL Individual responds: The San Diego businessman with Possible Help visited the offices of Profit Enterprises Inc which sold memberships in Forex trading programs.

*REBUTTAL Owner of company: I agree with Joe S. that if you are looking to purchase a trading program, ask for an actual trading track record before you buy.

*REBUTTAL Owner of company: Chuck Hughes knows better

*REBUTTAL Individual responds: Jim has a valid complaint with my former sales company Profit Partners Inc

*Consumer Suggestion: possible help

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10/30/2007 after long involved telephone discussions with representative Joshua and verbal guarantee that I would not lose my investing capital within the first 60 days, I made the unfortunate decision to subscribe to the $5500.00 annual cost Chuck Hughes Inner Circle investment advice scam. Remember - Joshua had guaranteed me a refund if within 60 days this advise showed major losses. Fat chance - this guy is a lyer.

Chuck Hughes recommends trading in positions of approximately $10K each.

Joshua was emphatic that I jump on the "seasonal trades" which was supposedly "hot" - so I purchased 10 X S&P 500 Jan 08 145 call - SFBAO
- recommended entry $12.75 (10 X 100 X 12.75 = $12750.00). I was able to enter this position at only $10.35 ($10367.95 inc commission) so I thought I was ahead! That is, before it tanked! - 12/06/2007 I sold at $8.25 ($8232.38 inc commission) for a loss of $$2135.57 on this one position. Note - Today 01/08/2008 Chuck Hughes continues to sit on this position for a loss of $9K! This is absurd! - There is no stop-loss set with this trading strategy - this is asinine.

I paper-traded his other recommendations in October, November and December 2007 All were losses!

In the beginning of December 2007 I asked for a refund. I certainly will not continue to throw good money after bad every recommendation had tanked - and I have no longer any confidence in any advice from Chuck Hughes Inner Circle. Joshua had given me a verbal guarantee over the telephone. Now I learned that this guarantee was worthless. Whatever these people tell you do not believe it. They will lie just to make a sale; they have no concern over your welfare. Their purpose in life is to sell you a subscription to their investment advise with a bogus guarantee that requires you to continue to follow their poor advice for 12 months before they will issue a refund. If you do not actually participate in the market and experience real losses, they will not honor their written refund!

I say Beware. Do not fall for the scam that I fell for. Do not believe what Joshua, Nathan, Linda and others at Chuck Hughes tell you. Don't waste your money.

Watch out for these scoundrels.

You would be better off throwing darts at the paper and choosing stocks that way.

Jim
Grants Pass, Oregon
U.S.A.

This report was posted on Ripoff Report on 01/08/2008 04:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Chuck-Hughes-Inner-Circle-Chuck-Hughes-Profit-Partners-Inc-Profit-Enterprises-Inc/nationwide/Chuck-Hughes-Inner-Circle-Chuck-Hughes-Chuck-Hughes-Inner-Circle-Chuck-Hughes-Profit-Pa-298202. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 5Consumer 4Employee/Owner
Updates & Rebuttals

#1 General Comment

Comments on "pump-and-dump" marketing

AUTHOR: Capnmike - (United States of America)

First I want to say that I just discovered this site, and applaud it's function/cause, (I've long thought that we, in the "1st world", need an "Integrity Bureau" like we have credit-bureau's).  That aside, all investors eventually either find out about, (or fall victim to), "pump-and-dump" marketing of stocks, especially BB/OTC (stock of start-up companies that look promising, or at least interesting). 

   I do not know what to make of this Chuck Hughes Report discussion.  I have never heard of him or his services before, but I received one of his buy-recommendations (ECAU) in the mail and am trying to decide whether to invest.  I have been bitten by "pump-and-dump" scams in the past and sort of consider that this is a price to pay in this "best of Capitalism"-game...unfortunately.  I'm sure someone pumped and dumped APPL at one time or another, (early on).

   I noticed that there was no mailing date or publishing date on the Hughes ECAU flyer, so I do not know how current it is, but the stock has apparently only been trading since 1/24/13, and has had it's ups and downs; now the volume is way down and the price is dropping, so obviously someone has been "dumping"....Hughes?  One just hopes that the company actually exists....you never can be really sure it's a real trade-able company until you see it listed on the big boards, (I got burned on this a couple of years back...my strong suggestion is to never invest in any company "headquartered" in Florida; Southern California companies are pretty risky too...just my opinion).

  In sum: I think it is usually best to wait and watch at least a couple of weeks after getting an OTC or BB stock-recommendation; that's what I'm doing with ECAU.
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#2 Consumer Comment

Chuck Hughes offer jan, 2012

AUTHOR: Marc - (United States of America)

I received a printed reported from Chuck Hughes titled The Chuck Hughes Microcap Report.  In it he suggests buying a OTC stock STEV, it is a company that has a new sweetener and reports they just got government approval.  What little of the report that I was able to verify I found to be true and the stock did rocket up after his mailing went out as people bought large blocks of shares.  I was shocked to see this.  In the back of the report Chuck Hughes offers his system for $49 and states if for any reason I'm not satisfied I can return the materials anytime in the next year and receive a full refund.  This is not the inner circle offering but rather some book or newsletters.  I'm sure the inner circle offer will come after this for a much higher fee.  Like others here on this site, I wonder if this is such a high accuracy trade selection process as stated (his words not mine) in this so called newsletter, Why is he selling books and inner circle memberships to make money?  Why isn't he just making money on his own trades or heading up a market fund.  He claims in this news letter to have made 4.4 million in profits over the past four years and on his website www.chuckhughesic.com he states he is a 7 time trading champion however I can not find any information aside from his site to verify that claim.  No idea who awarded him this champion title if it was actually awarded and he does not tell you on his site.  Not a good sign.

In short if it sounds to good to be true most likely it that's exactly what it is... to good to be true. 

If he is able to gather members then his reports to them of a buy on a stock could indeed generate movement in the market and since he bought it before telling them I can see how he could possibly generate profits selling the recommended stock as it moves up when his members buy it.  I'm sure some companies would be willing to pay him to send out his newsletters suggesting people buy stock in that company as well.  He can make money a couple ways here no doubt.  A good trick if you can get people to buy into it.  I think buying his recommendations for a couple of thousand dollars almost assures him that his members will use the information he provides and thus move the market.  It's simple.  No members, no movement and his system doesn't work.  With members joining and buying those stocks he recommends, sure the stock goes up and he can sell his shares at a profit.  A neat trick.  

Is it a scam?  You tell me.

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#3 Consumer Suggestion

Advisory or Learning or Rip off

AUTHOR: DanielOTA - (United States of America)

Advisory Chuck Hughs offers is intriguing, however I have same concern. If he was not looking to take money for nothing, I agree that he should offer the service free without upfront cost of $1997.

If the test period proves successful for the individual then that person can then decide and pay for next 2nd 3 month advisory period or annual if desired. If claims of average profit maintains to be true in the first quarter of the offer then I am sure many could use those profits to pay to continue his advisory service for many quarters or loyal years to come.

However, perhaps learning the actual methods instead may be money better spent. OTA does just that and that teaches you how to fish so to speak instead of just giving you a fish to eat for a day.
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#4 Consumer Comment

Do You Really Want To Help Others To Make Money?!

AUTHOR: Zanboor - (United States of America)

Dear Chuck,

I watched your sale video you emailed me. Offering 90 days risk free trail. I was almost sold till I got to the end and I realized it smelled like a scam. Most system sellers make their millions from selling a system rather than trading the system!

So I searched the Internet and I saw the complains about your service.



I have been trading for over 35 years and I know there are always losses. There is no Holy Grail! But what bothers me is traders that are making millions of dollars yet they are hustling for a few more dollars from small financially poor traders. If I was making millions from trading day in day out, I would not have time to sell and hustle others. Between trading and spending my ever increasing wealth, I would not have time to do anything else.



Now, let say I was a kind hearted person like you and wanted to help others to become a millioner like me. This is how I would go about it:

First of All I would not charge a fortune for it. After all I already have a fortune that I can barley spend it and I am continuously making more!

Second, if I was not lying and my system was so great that in 90 days would make thousands in real or paper money, I would say "try my system risk free and charge free for 90 days and pay for the next quarters from profits you make. After all the $1997.00/Q would be a fraction of your quarterly profits"



Now, don't you think millions would jump on this offer and gladly pay you what you ask if and only if what you were claiming was true?
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#5 REBUTTAL Individual responds

The San Diego businessman with Possible Help visited the offices of Profit Enterprises Inc which sold memberships in Forex trading programs.

AUTHOR: Chuck Hughes - (U.S.A.)

The San Diego businessman with Possible Help visited the offices of Profit Enterprises Inc which sold memberships in Forex trading programs. I have never sold any Forex trading programs and I have no association with this company.

Chuck Hughes
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#6 REBUTTAL Owner of company

I agree with Joe S. that if you are looking to purchase a trading program, ask for an actual trading track record before you buy.

AUTHOR: Chuck Hughes - (U.S.A.)

I agree with Joe S. that if you are looking to purchase a trading program, ask for an actual trading track record before you buy.

I maintain a trading account at www.WorldCupAdvisors.com which is a service that monitors the real time profit performance of various trading advisors. My actual trading track record over the last several years is posted on this website. Log on to www.WorldCupAdvisors.com for updated profit performance information.

I have more than 24 years of trading experience and I have also posted copies of my tax returns and brokerage statements showing my long term track record on my website www.ChuckHughes.com. Log on to the home page of www.ChuckHughes.com and copies of these tax returns and brokerage statements are available in a PDF file.

I think it is important for you to verify the actual track record for a program that you are considering purchasing. Remember that anyone with a computer and historical price data can produce fantastic hypothetical profit results. The real question is: How does the program perform in real time without the benefit of hindsight?

The home page on my website also contains my blog. My blog contains updated profit performance for my trading strategies and discusses the best trading strategies to use for current market conditions. Feel free to contact me any time if you have questions about my trading strategies. I look forward to hearing from you!


Best Regards,


Chuck Hughes
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#7 REBUTTAL Owner of company

Chuck Hughes knows better

AUTHOR: Joe S - (U.S.A.)

I am the former owner of PROFIT PARTNERS, INC. I ran a clean store and never had any of the complaints regarding salesmen lying to customers and making false claims. We sold over twenty million dollars of Chuck Hughes programs - enough programs that Chuck bought a huge home in Carmel, CA.

He did not complain ONE TIME in three years to me about how the operations were run. His only complaint was when sales decreased becase of a lack of marketing support by Tradewins Publishing.

Subsequent to our clean, honest selling of his products, Chuck decided to cut a deal behind my back with another firm WHO EMPLOYS ALL OF MY FORMER EMPLOYEES. Thus, Chucks assertion that the high pressure sales tactics and "bending of the truth" are specious at best. He is using the same crew as have sold the product for years - but without the same constraints they had on them two, three and four years ago. He is DIRECTLY responsible for the degrading of the sales process.

Additionally, in looking at his web site - it seems he is not fully disclosing all of his trades. The numerous losing trades seemed to have disappeared. When you are looking to purchase his program ask for a list of every trade made by Chuck in an actual trading account.

Finally, I will say this. Chuck Hughes IS one of the better traders in the marketplace. He does have along track record of success and I am surprised that he has stooped to levelling false allegations and manipulating records to divert blame from himself. All traders lose money at some point - Live with it, Chuck.

Joe S.

P.S. - If you don't believe me ask your Chuck Hughes rep how long they have been selling Chuck. Brad F. for six years, Nathan C. for three years, Linda has been with me from inception - six years, etc. Stop the B.S. chuck. The tactics now employed are YOUR responsibility.
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#8 REBUTTAL Individual responds

Jim has a valid complaint with my former sales company Profit Partners Inc

AUTHOR: Chuck Hughes - (U.S.A.)

Jim has a valid complaint with my former sales company Profit Partners Inc. I am not familiar with Profit Enterprises Inc and have no association with them. I have been trading options successfully for 24 years and my main focus in life right now is helping other traders succeed as I have. Since I am an options trader and not a salesman, over the years I have hired independent sales and marketing companies to do that sort of thing for me. Unfortunately, some of the sales representatives at Profit Partners Inc were rude, used high pressure sales tactics and did not understand my trading program as well as they should. I found out these things only after the fact. Profit Partners Inc no longer sells my advisory service.

I know this does not excuse me from taking responsibility. It was my choice to hire the company in the first place, and for that I do apologize. I just want you to know that it was NOT my intention to purposely deceive anyone.

If you know someone who has purchased my advisory service and was treated unfairly by a sales representative, please do not hesitate to contact me directly at my support phone number 828-622-9684. I will act as swiftly as possible to remedy your situation.

With regard to Jim's losing S&P 500 option trade, losing trades are inevitable with every successful trading program. No trading strategy can produce 100% winners all of the time. My advisory service uses a diversified portfolio of bullish and bearish strategies that have produced consistent profits every year since the inception of my advisory service in 1999. For up to date profit results log on to www.failsafenow.com. The monthly profit results below show that my Inner Circle advisory service produced $232,567.00 in closed trade profits over the past year despite the volatile markets. I can honestly say that my subscribers who have followed my trade recommendations have realized consistent profits over the years and some make their living following the trading recommendations.

Month Profit/Loss Cumulative Profit
Jul-07 $14,687.00 $14,687.00
Aug-08 $54,550.00 $69,237.00
Sep-08 $21,370.00 $90,607.00
Oct-08 $14,095.00 $104,702.00
Nov-08 $12,289.00 $116,991.00
Dec-08 $26,975.00 $143,966.00
Jan-08 $27,764.00 $171,730.00
Feb-08 $11,881.00 $183,611.00
Mar-08 $2,798.00 $186,409.00
Apr-08 $11,367.00 $197,776.00
May-08 $16,904.00 $214,680.00
Jun-08 $17,887.00 $232,567.00

Thank you for reading.

Best Regards,

Chuck Hughes
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#9 Consumer Suggestion

possible help

AUTHOR: Sdbusinessman - (U.S.A.)

I read your report and wanted to say that I have first hand knowledge of the actual address location and phone of a sales office where these Profit Enterprises Inc investment advisor subscriptions are sold. They're in Carlsbad, CA with another office in San Marcos, CA both in North County San Diego area.

The office has the typical telemarketing boiler room look, small, smells like cigarettes, poorly dressed, ragged looking unproffessional guys working it. They run an employment ad looking for sales reps and I answered it. I could tell the minute I walked in it was a scam. I have seen several unfortunately over the years, and this same company has changed the name over the years doing the same thing. Again typical manuever that scams do. Also, the run a separate division selling a discount health plan that also has ripp off reports against that too.

Welcome to email me if you need more information.
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