• Report: #381650

Complaint Review: Gryphon Financial (Gryphon Holdings, Inc.) Gryphon

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  • Submitted: Wed, October 15, 2008
  • Updated: Fri, March 12, 2010

  • Reported By:Dallas Texas
Gryphon Financial (Gryphon Holdings, Inc.) Gryphon
110 Wall St. 11th Floor New York, New York U.S.A.

Gryphon Financial (Gryphon Holdings, Inc.) "Gryphon" SCAM! They do not do what they say!!! Stay Away!!! Please!!! New York New York

*General Comment: question to the attorney

*Consumer Comment: Response on Behalf of Gryphon Holdings, Inc.

*Consumer Comment: Response on Behalf of Gryphon Holdings, Inc.

*Consumer Comment: Response on Behalf of Gryphon Holdings, Inc.

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I received a phone call in April of 2008 from a guy who called himself Dominique. He was polite and told me about this company, Gryphon Financial, of which he was a trader. He told me about how much money he had made his clients. I was pretty impressed. He then told me that I could sign up for the Raging Bull service for one year for just $99. So I took the bait and signed up. I followed the email calls and lost on every single pick. He then called me back about a month later and told me about the Private Plays membership and said that I needed to join it and it was $5000 to get started and then I could pay the remaining $20,000 as profits were made. He told me that every one of his picks were going to be profitable and that I would be making $100,000 + in the coming months with his picks. He said he would personally call me with option picks and stay on the phone with me while I placed the orders. Then he said that he would personally call me the next day to tell me when to sell them and call me immediately if the option price went too low so I could save much of my capital and minimize losses. Well, none of that happened. He initially gave me 3 option picks over the phone and then I never heard from him the next day. I started getting suspicious about 2 days after I placed my options picks on which he advised me to do. I called and asked for my money back two days after I purchased the Private Plays membership and the lady who answered the phone told me "sorry sir, there are no refunds" in a very rude tone of voice. I told her that I was still within the 72 hour purchase withdrawal law and that I wanted my money back. I told her that it was a buyer's remorse law and that she had to give me my money back. She refused and hung up on me!!! What kind of company is this? I called back again and demanded to speak with Dominique. I got him on the phone and asked him why he had not returned my calls and he told me that he was tied up all day the day before. I told him that was no excuse because I was paying him a lot of money. He then became very rude and started cursing at me, calling me a piece of sh*t and all other kinds of names. He then threatened me with physical injury. WOW! That is crazy!!! I was shocked! I hung up the phone and then filed a complaint and charge back with my credit card company stating that the services offered were not what was explained to me in the paper that I signed because this Dominique guy never called me back to tell me when to sell anything after I had waited for 2 days for him to call me back. Well, I am still waiting for my money to be put back on my charge card. I then receive a letter from their "so called" attorney's office stating that I had purchased a service from them and there would be no refunds. I am still pursuing the refund of $5000. Please, anyone who gets a phone call from someone at Gryphon Financial (Gryphon Holdings, Inc.) or "Gryphon", please tell them "NO" and hang up the phone. They are scam artists and crooks. They are misleading and bait and switch artists. Any lawyer that would like to take on my case, please contact me or post a message on here. Maybe we can file a class action lawsuit against Gryphon Holdings, Inc. Their website is www.gryphonfinancial.net They are pure garbage!

Please stay away from this company!

I hope I can save at least one person from the financial wreckage and stress that I have had to go through because of this company.

Thanks

Lance
Dallas, Texas
U.S.A.

This report was posted on Ripoff Report on 10/15/2008 06:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/Gryphon-Financial-Gryphon-Holdings-Inc-Gryphon/New-York-New-York-10005/Gryphon-Financial-Gryphon-Holdings-Inc-Gryphon-SCAM-They-do-not-do-what-they-say-381650. 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 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 General Comment

question to the attorney

AUTHOR: bar - (United States of America)

Noted the response from this law firm out of Florida and seesome issues.

First Off, the people that call state in the phone conversation that they have been advisers for many years.  My question to this is if they are advisers then why can I not find them on FINRA.ORG?

When someone calls themselves an adviser when it comes to securities a consumer would think that they are registered with the SEC or FINRA as licensed advisers/brokers.

This would make me think that they are frauds when it comes to being advisers.  Please do correct me if I am incorrect in thinking this.

In addition, has the SEC looked into this companies practices on calling them selves Advisors to the general public?  Another cause of concern is why they do not provide a trade blotter from a clearing house (DTCC/Pershing).  Makes me think of Madoff.
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#2 Consumer Comment

Response on Behalf of Gryphon Holdings, Inc.

AUTHOR: Adorno & Yoss Llp - (U.S.A.)

This response is being posted by Adorno & Yoss LLP, counsel to Gryphon Holdings, Inc. d/b/a Gryphon Financial (Gryphon). We have been requested by Gryphon to respond to the false and defamatory statements posted in Report No. 381650.

Gryphon makes very clear on its website (www.GryphonFinancial.net) that it is an educational service--not an investment advisor, stating in its Disclaimer:

GryphonFinancial.net is an educational service, not an investment advisor. All subscribers to each service receive the exact same trading signal publications. Active trading is not for everyone; please speak to your investment advisor before determining the suitability of GryphonFinancial.net educational services for your objectives and risk tolerance.

The Disclaimer further unambiguously states that the recommendations provided by Gryphon are not guaranteed.

When consumers visit Gryphon's website, they must agree to the terms and conditions specified therein and enter their credit card information in order to enroll in any particular service. The webpage clearly provides the Risk Disclosure, which states:

The risk of loss in tradingcan be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:

(1) You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the commodity futures market, and you may incur losses beyond these amounts

(2) Under certain market conditions, you may find it difficult or impossible to liquidate a position.

In response to Landon's other allegations, Gryphon maintains that its employees would never speak to a customer in the unprofessional manner as described by Landon.

Gryphon has authorized Adorno & Yoss LLP to initiate any and all actions as may be necessary to prevent defamatory statements from being posted about its company on the Internet and will do so in the appropriate judicial forum, not on the Internet through an anonymous name.
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#3 Consumer Comment

Response on Behalf of Gryphon Holdings, Inc.

AUTHOR: Adorno & Yoss Llp - (U.S.A.)

This response is being posted by Adorno & Yoss LLP, counsel to Gryphon Holdings, Inc. d/b/a Gryphon Financial (Gryphon). We have been requested by Gryphon to respond to the false and defamatory statements posted in Report No. 381650.

Gryphon makes very clear on its website (www.GryphonFinancial.net) that it is an educational service--not an investment advisor, stating in its Disclaimer:

GryphonFinancial.net is an educational service, not an investment advisor. All subscribers to each service receive the exact same trading signal publications. Active trading is not for everyone; please speak to your investment advisor before determining the suitability of GryphonFinancial.net educational services for your objectives and risk tolerance.

The Disclaimer further unambiguously states that the recommendations provided by Gryphon are not guaranteed.

When consumers visit Gryphon's website, they must agree to the terms and conditions specified therein and enter their credit card information in order to enroll in any particular service. The webpage clearly provides the Risk Disclosure, which states:

The risk of loss in tradingcan be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:

(1) You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the commodity futures market, and you may incur losses beyond these amounts

(2) Under certain market conditions, you may find it difficult or impossible to liquidate a position.

In response to Landon's other allegations, Gryphon maintains that its employees would never speak to a customer in the unprofessional manner as described by Landon.

Gryphon has authorized Adorno & Yoss LLP to initiate any and all actions as may be necessary to prevent defamatory statements from being posted about its company on the Internet and will do so in the appropriate judicial forum, not on the Internet through an anonymous name.
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#4 Consumer Comment

Response on Behalf of Gryphon Holdings, Inc.

AUTHOR: Adorno & Yoss Llp - (U.S.A.)

This response is being posted by Adorno & Yoss LLP, counsel to Gryphon Holdings, Inc. d/b/a Gryphon Financial (Gryphon). We have been requested by Gryphon to respond to the false and defamatory statements posted in Report No. 381650.

Gryphon makes very clear on its website (www.GryphonFinancial.net) that it is an educational service--not an investment advisor, stating in its Disclaimer:

GryphonFinancial.net is an educational service, not an investment advisor. All subscribers to each service receive the exact same trading signal publications. Active trading is not for everyone; please speak to your investment advisor before determining the suitability of GryphonFinancial.net educational services for your objectives and risk tolerance.

The Disclaimer further unambiguously states that the recommendations provided by Gryphon are not guaranteed.

When consumers visit Gryphon's website, they must agree to the terms and conditions specified therein and enter their credit card information in order to enroll in any particular service. The webpage clearly provides the Risk Disclosure, which states:

The risk of loss in tradingcan be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:

(1) You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the commodity futures market, and you may incur losses beyond these amounts

(2) Under certain market conditions, you may find it difficult or impossible to liquidate a position.

In response to Landon's other allegations, Gryphon maintains that its employees would never speak to a customer in the unprofessional manner as described by Landon.

Gryphon has authorized Adorno & Yoss LLP to initiate any and all actions as may be necessary to prevent defamatory statements from being posted about its company on the Internet and will do so in the appropriate judicial forum, not on the Internet through an anonymous name.
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