- Report: #634966
Complaint Review: La Jolla Investment Partners
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| La Jolla Investment Partners 5575 La Jolla Blvd
La Jolla, California United States of America |
|
La Jolla Investment Partners Eddie Monet, David Nava, WhisperFromWallstreet.com Paid $40,000 to pump a stock so he could sell 1.5 million shares and steal money from the buyers La Jolla, California
*Consumer Suggestion: Read their Trading Rules bud
*Consumer Suggestion: Read their Trading Rules bud
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Corporate Advocacy Program™
Eddie Monet at La Jolla Investment Partners ran an illegal pump and dump scam. He purchased 1.5 million shares of stock symbol MGON for cheap.
Afterward, he paid $40,000 to a company called Whisper From Wall Street to tell all of their members and subscribers that they should immediately buy MGON stock because the company has news out (fake news) and their stock was about to have a great day.
Once the members started buying stock Eddie Monet at La Jolla Investment Partners was able to dump a massive amount of shares they have purchased cheap. They sold their shares at great profit while the sell-off causes every single member of Whisper From Wall Street who bought the stock to take a MASSIVE loss.
To put it simple - Eddie Monet and Dave Mava stole a lot of money right out of the pocket of people today. This entire scam was illegal and well planned and premeditated.
Information is being over to the SEC so they can get begin building their case. [continued below]....
Afterward, he paid $40,000 to a company called Whisper From Wall Street to tell all of their members and subscribers that they should immediately buy MGON stock because the company has news out (fake news) and their stock was about to have a great day.
Once the members started buying stock Eddie Monet at La Jolla Investment Partners was able to dump a massive amount of shares they have purchased cheap. They sold their shares at great profit while the sell-off causes every single member of Whisper From Wall Street who bought the stock to take a MASSIVE loss.
To put it simple - Eddie Monet and Dave Mava stole a lot of money right out of the pocket of people today. This entire scam was illegal and well planned and premeditated.
Information is being over to the SEC so they can get begin building their case. [continued below]....
Report Attachments:
.....
Have you done business with or follow stock per the advice of any of the following:
Eddie Monet <eddiem@lajollaipo.com>
Dava Nava <oceancoralfirst@yahoo.com>
Whisper From Wall Street <info@whisperfromwallstreet.com>
You may be entitled to compensation! Report the transaction and all information regarding the situation to the SEC immediately!
Have you done business with or follow stock per the advice of any of the following:
Eddie Monet <eddiem@lajollaipo.com>
Dava Nava <oceancoralfirst@yahoo.com>
Whisper From Wall Street <info@whisperfromwallstreet.com>
You may be entitled to compensation! Report the transaction and all information regarding the situation to the SEC immediately!
This report was posted on Ripoff Report on 08/27/2010 01:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/La-Jolla-Investment-Partners/La-Jolla-California-92037/La-Jolla-Investment-Partners-Eddie-Monet-David-Nava-WhisperFromWallstreetcom-Paid-400-634966. 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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Search Tips#1 Consumer Suggestion
Read their Trading Rules bud
AUTHOR: Sean Johnson - (United States of America)
SUBMITTED: Tuesday, August 31, 2010
I am a long time reader of WhisperFromWallStreet.com, and have enjoyed success with many of their picks.
The reason I like WhisperFromWallStreet.com so much is because the site is the exact opposite of what you make them out to be.
Unlike other websites who are compensated to advertise OTC stocks, they actually take time to teach readers how to trade these often volatile stocks.
Here is something they have posted on their website and also send out immediately as a Welcome letter (before I realized it was on their site I had the welcome email saved on my desktop and have used it as my bible for trading these stocks): http://whisperfromwallstreet.com/trading_rulesn.php
I would suggest you read through these rules, as the writer warns that OTC stocks are often volatile (which means they can go up just as quick as they can go down, which is why we trade these stocks) and as a precautionary measure you should trade these stocks with stop-loss orders, which means, in case a stock does go down such as this MGON did that you will automatically be taken out of the stock minimizing your losses.
If you trade like this you will never lose big money, and you won't be as mad.
Another rule it seems you broke is chasing the gap, or placing a market order pre market. Because again if you read through the trading rules it blatantly warns against chasing big gap ups, that is often a trick used by market makers (the people who you should probably be most upset with) to entice buyers in the first minute or so, in an effort to short the stock (people will tell you shorting OTC stocks is impossible however, there's many brokers who will allow it, it's just there is a limited amt of shares available for shorting which is why they're usually gone early in the morning)
This is why I didn't get involved in MGON last Friday. It didn't look good early in the morning so I saved my money. I am however, doing well on their alert this morning SILA, which is up almost 20% today, and am very happy, I've already taken most of my money off of the table, but kept some shares in case the stock continues it's upward trend.
Also, I see you said " Whisper From Wall Street (told all) of their members and subscribers that they should immediately buy MGON stock because the company has news out (fake news) and their stock was about to have a great day."
Here's a copy of the MGON newsletter from their blog: http://whisperfromwallstreet.com/blog/whisperfromwallstreet-mgon-alert/
Nowhere in there do I see them telling readers to "immediately" buy MGON. In fact, the last line of the email goes like this "As always do your own research, always use stop loss orders, and
book your profits when in a position to do so."Keep in mind, it's explicitly stated on the company's site, and email's that this was a paid advertisement, so obviously they are going to paint a good picture of the company, it did have an interesting company story, and they relayed that well imo.
However, as you start to trade these types of stocks you'll realize more and more the story doesn't matter that much, and that newsletters like WhisperFromWallStreet's should be used as a tool to help find good stocks to play. The stocks they alert are almost always active, and if you follow their trading rules you can make some good bank doing so.
P.S. just looked at that MGON chart, looks like if you could've bought that bottom on Friday you'd be up today.
My advice to you is to concentrate a little bit more when you are reading, and not believe everything you see online. Good luck!
Respond to this report!
What's this? #2 Consumer Suggestion
Read their Trading Rules bud
AUTHOR: Sean Johnson - (United States of America)
SUBMITTED: Monday, August 30, 2010
I am a long time reader of WhisperFromWallStreet.com, and have enjoyed success with many of their picks.
The reason I like WhisperFromWallStreet.com so much is because the site is the exact opposite of what you make them out to be.
Unlike other websites who are compensated to advertise OTC stocks, they actually take time to teach readers how to trade these often volatile stocks.
Here is something they have posted on their website and also send out immediately as a Welcome letter (before I realized it was on their site I had the welcome email saved on my desktop and have used it as my bible for trading these stocks): http://whisperfromwallstreet.com/trading_rulesn.php
I would suggest you read through these rules, as the writer warns that OTC stocks are often volatile (which means they can go up just as quick as they can go down, which is why we trade these stocks) and as a precautionary measure you should trade these stocks with stop-loss orders, which means, in case a stock does go down such as this MGON did that you will automatically be taken out of the stock minimizing your losses.
If you trade like this you will never lose big money, and you won't be as mad.
Another rule it seems you broke is chasing the gap, or placing a market order pre market. Because again if you read through the trading rules it blatantly warns against chasing big gap ups, that is often a trick used by market makers (the people who you should probably be most upset with) to entice buyers in the first minute or so, in an effort to short the stock (people will tell you shorting OTC stocks is impossible however, there's many brokers who will allow it, it's just there is a limited amt of shares available for shorting which is why they're usually gone early in the morning)
This is why I didn't get involved in MGON last Friday. It didn't look good early in the morning so I saved my money. I am however, doing well on their alert this morning SILA, which is up almost 20% today, and am very happy, I've already taken most of my money off of the table, but kept some shares in case the stock continues it's upward trend.
Also, I see you said " Whisper From Wall Street (told all) of their members and subscribers that they should immediately buy MGON stock because the company has news out (fake news) and their stock was about to have a great day."
Here's a copy of the MGON newsletter from their blog: http://whisperfromwallstreet.com/blog/whisperfromwallstreet-mgon-alert/
Nowhere in there do I see them telling readers to "immediately" buy MGON. In fact, the last line of the email goes like this "As always do your own research, always use stop loss orders, and
book your profits when in a position to do so."Keep in mind, it's explicitly stated on the company's site, and email's that this was a paid advertisement, so obviously they are going to paint a good picture of the company, it did have an interesting company story, and they relayed that well imo.
However, as you start to trade these types of stocks you'll realize more and more the story doesn't matter that much, and that newsletters like WhisperFromWallStreet's should be used as a tool to help find good stocks to play. The stocks they alert are almost always active, and if you follow their trading rules you can make some good bank doing so.
P.S. just looked at that MGON chart, looks like if you could've bought that bottom on Friday you'd be up today.
My advice to you is to concentrate a little bit more when you are reading, and not believe everything you see online. Good luck!
Respond to this report!
What's this? 
