• Report: #884509

Complaint Review: Cyber Trading University

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  • Submitted: Fri, May 18, 2012
  • Updated: Fri, May 18, 2012

  • Reported By: James Stevens — los angeles California United States of America
Cyber Trading University
6800 jericho turnpike suite 208w syosset, New York United States of America

Cyber Trading University Fausto Pugliese Misrepresentation/deceit of services, high-pressure soliciting, took large monies for nothing syosset, New York

*Author of original report: Cyber Trading University, Syosset, NY rebuttal

*UPDATE Employee: This Person Was Never A Customer of Ours

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This is a direct scam alert to anyone in the investment community given the current financial climate.  We are being inundated with continued mismanagement of the public's equity, with no letup in sight, but there is a new silent threat on wall street, potentially more damaging.  Individuals or companies who claim to have "redeemed" their once- greedy ways, and continue to make large amounts of money "teaching" investors how to trade their own money.  This is not retail brokerage.  Cyber Trading University of Syosset, NY offers "courses" on how you can make money in today's markets.  Anyone with experience in this arena will directly tell you it is a crapshoot to earn substantial percentage gains, regardless of what you "know" - period!  This company is hiding behind the guise of such rhetoric, and is charging between $129 and up to $15,000 for trading "expertise" by Mr. Pugliese.  The company offers no verifiable or quantifiable track record, nor proof of their claims, and is resistant to answering any basic questions via telephone about its clearly fraudulent structure.  Both myself and a business associate attended a recent class at a hotel, and were aggressively sold a basic course which we felt, not knowing what we know now, we might pickup some useful tips.  We we dead wrong.  The company offers a course congruent with the amount they think you have to invest, not one which is suitable.  There is zero methodology, it is fabricated business and trading jargon by industry folk looking to line their pockets.  Their coordination of trades and lack of insight and disclosure on specific trading choices was horrific.  I will keep this generic for any investor out there and simply tell you to stay far away from this operation.  We only lost a total of roughly $300, imagine what someone who invests $15,000 for their "platinum package" can expect from this obvious scam.  In addition, all positive reviews on the web for Cyber Trading University are clearly manufactured by the company itself.  I have been in touch with the NY Attorney General's office and will provide information as necessary to prevent a company like this from defrauding and robbing novice, unsuspecting investors.

This report was posted on Ripoff Report on 05/18/2012 06:45 AM and is a permanent record located here: http://www.ripoffreport.com/r/Cyber-Trading-University/syosset-New-York-11791/Cyber-Trading-University-Fausto-Pugliese-Misrepresentationdeceit-of-services-high-pressu-884509. 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.

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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Cyber Trading University, Syosset, NY rebuttal

AUTHOR: Dave Marchon - ()

My Texas office has just forwarded me an almost YEAR LATE response to the substandard experience we had with Cyber Trading University.  Since we know more than sufficient statements have been made to expose fraudulent operations such as this, we need only to restate that the nature of the fraud is within the basic structure and foundation of the company itself.  The specific reason why fraudulent is the only appropriate term here is because the likelihood that any ONE individual has such unique expertise, that they can infer or imply that they can out-trade the market, speaks for itself.  This is something we have heard repeatedly know with our continued learnings in the stock market. The investment we lost is equally disturbing.  Having little experience, my associates and I rely on any company to guide properly in today's financial climate, and we had no affiliation with Cyber Trading University prior in any fashion or capacity whatsoever, which is completely false.  Our first, and last, trip to "the Big Apple" showed us that there are actually companies who will take large amounts of money for advice, and simply not deliver!!  After reading the company's self-promoted affiliation w individuals with "sterling reputations," it is a heavy insult to us laymen that we can still read of the misguiding and mishandling of hard-earned savings every day in the news.  There is absolutely no steadfast record or file by any company who knows full well that they will have small to no formal complaints by investors/"customers" since it is aggressively stated that by taking a course, YOU ARE ON YOUR OWN!  My partners and I feel this is far to convenient an out for any company trying to aggressively sell or upgrade packages of classes to us, or anyone, at the prices they charge for a roll of the dice - at best.  We feel, and now know, it to be fraud by it's very nature, structure, and foundation, hence the basis for the complaint.  After rereading the bio of Mr. Pugliese, he referred to himself as a prior stock bandit (?), and know it is a responsibility to inform the investment public to avoid companies like his, which again, brag and make beyond exaggerated claims.  There had been far too much of this type of unethical, unverifiable activity in recent years.  We strongly maintain our belief that virtually all company testimonials are manufactured by the company itself based on the fact that it is a course passing the real risk to the investor, and would ask regulatory agencies to review the practices of these companies to root out any that cannot concretely prove their claims in tangible ways while taking large amounts of money for them. Furthermore, we do not believe the term "sterling" should be used in connection with any company advising on or about Wall Street, and will continue to inform the public on companies like Cyber Trading University.

Thank you. 
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#2 UPDATE Employee

This Person Was Never A Customer of Ours

AUTHOR: Cyber Trading University - ()

Dear Ripoff Report Readers,

We have searched through our customer records very extensively, and we simply
cannot find any record of the above reviewer, "James Stevens",
whatsoever. The problem with reviews, such as this, is that anyone with a grudge,
whether a past employee, business associate, or competitor can file a report
against a company using a pseudonym in an attempt to harm their reputation.

In addition, this customer does not have his facts straight,
because our Platinum course only costs a fraction of the $15,000 that he stated
in his report.

Cyber Trading University has been in business for nearly two decades, and
educates thousands of satisfied customers each month; if reports and sentiments
like the one above were shared by more customers, complaints against our
company on Ripoff Report and other review websites would be far more numerous,
which is not the case, as can be verified by a simple Google search.

Furthermore, Cyber Trading University actively partners with reputable
industry-leaders (who frequently work and present alongside us when we offer webinars
and other training courses) who would never risk their hard-earned, sterling
reputations by working or associating with a company that is known for scamming
customers.

While Cyber Trading University never gives trade or investment recommendations
to our customers, our Founder and CEO, Fausto Pugliese, has a proven track
record as a successful trader, and holds regular live trading sessions so that
prospective customers can see him put his money where his mouth is.

If you browse the reviews of even the most highly-regarded companies in the
world, you will be able to find an occasional hurtful review for nearly every
one of them. This should not be a surprise for companies that have thousands of
customers; this is just a fact of the "law of large numbers." Think
about it: if a company has 10,000 customers each year, and a mere .1% decide to
write a complaint, it would result in 10 negative reviews written about the
company each year.

You must also realize that people come to Ripoff Reports solely to complain
about a company; they never come to post accolades and praises of any company,
so it is easy to get a skewed opinion of a company by reading Ripoff Report
reviews without reading the testimonials of our thousands of satisfied
customers.

The fact that we only have 1 negative review (which is extremely dubious in the
first place) on Ripoff Reports, after nearly two decades of being in business
and serving thousands of customers each year, should actually be seen as a
testament to Cyber Trading University's reputation among its large customer
base.

Thank you for considering our side of the story.

Sincerely,

Cyber Trading University

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