• Report: #526307

Complaint Review: Luxman Trading Concepts

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  • Submitted: Fri, November 20, 2009
  • Updated: Fri, November 20, 2009

  • Reported By: Joel — Centralia Washington United States of America
Luxman Trading Concepts
4712 Admiralty Way #185 Marina Del Ray, California United States of America

Luxman Trading Concepts Luxman, Ward Thompson, James Kennedy, Jack Lawrence Luxman is keeping my refund money and not giving me back what is legally my money. Thievery? Debauchery? Marina Del Ray, California

*Author of original report: Luxman Trading Concepts will not return my refund money owed me according to our contract

*Author of original report: luxman Trading Concepts is not refunding my money that they have no right to be keeping from me. Thievery here? Debauchery?

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   I entered into a contract with Luxman trading Concepts on March 9, 2009. The agreement both parties agreed to stated that If the program I bought into did not show a profit by the benchmark trading system used by Luxman, I will receive my total refund of $6000 back. Half of the refund at the six month mark from the first day of the next following month of my initial entry (which puts the official start date as April 1, 2009). The remainder of my refund paid back to me at the seven month mark, again from the official start date of 04-01-09. This puts the six month mark at october 1, 2009 and the seven month mark at November 1, 2009. On those dates I sent a registered letter requesting my refunds according to the contract.


   During the course of the seven months, the Freedom E-MINI trading system did absolutely lousy. It did not come close to performing as promised by Ward Thompson and James Kennedy. But no worries, right? I mean I had a contract that promised my money back. 


   I have sent numerous e-mails and left phone messages dating back to September 2009, requesting information on when I can expect my money back, for which they do very much owe me. I abided by the contract all the way. It appears that James Kennedy and Ward Thompson, and others at Luxman are purposefully avoiding paying me back my money. They are in violation of the contract. I did finally receive a call from a person at Luxman on Nov 2nd, 2009 ( I believe he was acting as Luxman's legal person or maybe their accountant. Anyway, this person told me that he would be mailing me a full refund that very day. So far-nothing. Just more of the same - stalling and apparently false promises from that group of people representing Luxman.




   I might note that the only reason I received a call back was because of a personal e-mail I sent to my Broker (Pacific One Group, a California company), which by the way was set up by Luxman to do my trading. I mentioned to Jay Herbert, President of Pacific One Group that I am unhappy with Luxman's apparent fraudulent tactics and I will pursue a course of justice in due time. Somehow, this private e-mail to my broker (Pacific One Group) got back to Luxman. Otherwise, I am sure a representative from Luxman would never have called me. Again, this call from a Luxman representative who illegally read my personal mail intended for Jay Herbert, President of Pacific One Group only resulted in yet another false promise from Luxman. It is odd how Luxman ignored all my e-mails and phone calls requesting information on my refund but all of a sudden someone from luxman felt compelled to call me only because someone, or people, at Luxman illegally read my personal mail-sent to someone else.


   These are the type of people I and others have to deal with just to get our money back, which they have absolutely no right keeping from us. When someone has possession of someone else's money against the stated objection of that person, is not that thievery? At the very minimum it is arrogance and an attitude of above the law mentality on the part of Luxman Trading Concepts and their charges to continue with their unlawful possession of someone else's money. 


   Luxman's whole guarantee of money back is so geared towards them it is laughable. They told me that the slippage is no big deal, very small, and the Trade Station platform they use is almost on the money with actual trades which will take place in my actual account. They were not even close for many of the trades my broker placed for me. Most of my trades were not the same as the Luxman Trade Station platform trades placed by Luxman as the official gage of the system's performance. Beware! My losing trades were almost always more than their losses and my gains were almost always less than what their gains showed. It was such an unlevel playing field that they had me on. And still, I somehow managed to show a loss according to their Trade Station platform! 


   so I triggered my refund request according to the contract when the time came. Luxman is stalling me. Just go to a site like the Better Business Bureau and read the complaints! It is no wonder the BBB gives Luxman an "F" grade!


This report was posted on Ripoff Report on 11/20/2009 10:25 AM and is a permanent record located here: http://www.ripoffreport.com/r/Luxman-Trading-Concepts/Marina-Del-Ray-California-90292/Luxman-Trading-Concepts-Luxman-Ward-Thompson-James-Kennedy-Jack-Lawrence-Luxman-is-keep-526307. 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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#1 Author of original report

Luxman Trading Concepts will not return my refund money owed me according to our contract

AUTHOR: Joe - (United States of America)

Luxman Trading Owes me and several others our money back. They appear to be stalling. beware of their tactics.
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#2 Author of original report

luxman Trading Concepts is not refunding my money that they have no right to be keeping from me. Thievery here? Debauchery?

AUTHOR: Joe - (United States of America)

   I entered into a contract with Luxman trading Concepts on March 9, 2009, to purchase an Automated Futures Trading System, which places futures trades according to pre-programmed criteria programmed into the system. The name of the system I paid for is the Freedom S&P E-Mini Trading Program.

   The agreement both parties agreed to stated that If the Freedom program I bought into did not show a profit by the benchmark trading system used by Luxman, I will receive my total refund of $6000 back. Half of the refund at the six-month mark from the first day of the next full trading month of my initial entry (which puts the official start date as April 1, 2009). The remainder of my refund paid back to me at the seven-month mark, again from the official start date of 04-01-09. If the program shows a loss on the Luxman Trade Station Model used as the benchmark by the time these dates are reached, a refund will be paid me. This puts the six-month mark at October 1, 2009 and the seven-month mark at November 1, 2009. On those dates, I sent a registered letter requesting my refunds according to the contract. I have received nothing.





During the course of the seven months, the Freedom E-MINI trading system did absolutely lousy. It did not come close to performing as promised me by Ward Thompson and James Kennedy, both of whom represented Luxman and acted as agents of Luxman Trading Concepts-before, during and after my signing on with Luxman (I have e-mail proof of a promised gross dollar amount that I will have by the seven month date sent by Ward Thompson-agent of Luxman-which of course, never came close to reality). So with all this, no worries, right? I mean I had a contract and an e-mail from a Luxman agent that promised me my money back. So I should have felt good about proceeding to exercise my refund guarantee. But I did not feel confident about these guys because on too many occasions I would not get an answer back from them, especially by e-mail. Its like they did not want to leave an electronic trail anymore.



   Since it was becoming apparent that I would be able to excersise my refund at the appropriate dates fast approaching, I sent numerous e-mails and left phone messages dating back to September 2009 when it became apparent that I would be qualified for my money to be returned to me soon. I requested information on when I can expect my money back, for which it appears they do very much owe me. I abided by the contract all the way. It also continued to appear that Luxman agents James Kennedy and Ward Thompson and others at Luxman were purposefully avoiding giving me an answer about my refund information I had been requesting. Since those unanswered e-mails and phone calls by me finally followed by the promise to pay me my money by the Luxman agent who called me by way of illegally reading my personal mail. Luxman is now in obvious violation of the contract by continuing to withhold my money and probably in violation of federal communication as well as privacy laws their agents broke.



   however, I did receive a call from a man at Luxman on Nov 2nd, 2009 which I beleive was a direct result of a Luxman agent illegally obtaining an e-mail sent by me to my broker( I believe he was acting as Luxman's legal person or maybe their accountant). Anyway, this person told me that he would be mailing me a full refund that very day. So far, nothing. Just more of the same stalling, and apparently false promises from him and a broad group of people representing Luxman and who only called me because he read my personal e-mail I sent to someone else.



   I might note that the only reason I received a call back was because of a personal e-mail I sent to my Broker (Pacific One Group, a California company), which by the way was set up by Luxman to do my trading. I mentioned to my broker Jay Herbert, President of Pacific One Group, that I am unhappy with Luxman's apparent fraudulent tactics and I will pursue a course of justice in due time. Somehow, this private e-mail to my broker (Pacific One Group) got back to Luxman. Otherwise, I am sure a representative from Luxman would never have called me.



   Again, this call from a Luxman representative who illegally read my personal mail intended for Jay Herbert, President of Pacific One Group only resulted in yet another false promise from Luxman. It is odd how Luxman ignored all my e-mails and phone calls requesting information on my refund but all of a sudden, someone from luxman felt compelled to call me only because someone, or people at Luxman illegally read my personal mail sent to someone else.





These are the type of people others and I have to deal with just to get our money back, which they have absolutely no right keeping from us. When someone has possession of someone else's money against the stated objection of that person, is not that thievery? At the very minimum, it is arrogance and an attitude of above the law mentality on the part of these Luxman agents to continue with the unlawful possession of my money. Cant people like this be investigated for fraudulent practices? Theft? Should they not be charged with criminal behavior? I for one would like to see stiff fines and jail sentences for these people if an investigation ever takes place by the proper authorities and these Luxman agents are found to be guilty.



   Luxman's whole guarantee of money back is so geared towards them anyway, its laughable. Ward Thompson and James Kennedy told me that the slippage is no big deal, very small, and the Trade Station platform they use is almost on the money with actual trades, which will take place in my actual account. They were not even close for many of the trades my broker placed for me. Most of my trades were not the same as the Luxman Trade Station platform trades placed by Luxman as the official gage of the system's performance.



   To anyone reading this and thinking about investing with Luxman, Beware! My losing trades were almost always more than their losses and my gains were almost always less than what their gains showed. Making it very difficult for me to exercise my refund rights according to their contract, which relies solely on their benchmark. My actual losses after seven months was around $1950, including broker fees. Luxmans seven month performance profit/loss while trading the same future contracts as myself showed a loss of around only $800 according to their benchmark. Even with such an unleveled playing field that they had me on, I still managed a loss according to their benchmark Trade Station platform and therefore I had a right to trigger my refund, which I did by registered letters.



   So beware, If their benchmark trading system shows a profit of just $1.00 over the prescribed six and seven months necessary but your actual losses were more, they will have the legal right to keep your refund. And remember, its not just performance slippage but your account bottom line will probably always be less than theirs by the fact that they do not subtract broker fees from their profit/loss results according to their benchmark trades.





Just go to a site like the Better Business Bureau and read the complaints! It is no wonder the BBB gives Luxman an "F" grade!





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