• Report: #738822

Complaint Review: Options University, Brett Fogle, Joe Atkins

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  • Submitted: Thu, June 09, 2011
  • Updated: Mon, October 08, 2012

  • Reported By: Mic — Clearwater Florida USA
Options University, Brett Fogle, Joe Atkins
925 S Federal Hwy Ste 510 Boca Raton, Florida United States of America
  • Phone: 561-750-4345
  • Web:
  • Category: Software

Options University, Brett Fogle, Joe Atkins Options University Group LLC, OptionsU Forex Trader LLC, Mastery Products LLC Liars and Theives Boca Raton, Florida

*REBUTTAL Owner of company: Still misleading and untrue

*UPDATE EX-employee responds: Wrong Again

*UPDATE EX-employee responds: Check your sources

*REBUTTAL Individual responds: False and Misleading Complaint - Misrepresentation of Facts

*REBUTTAL Individual responds: Facts are Incorrect

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Brett Fogle and 'Forex - Joe' Atkins sold costly trading software to nearly a thousand people last year - with the promises of a 'lifetime' of service to access this software over the web. By years end, they had realized a better strategy was to form a new company - Mastery Products, LLC and shift all assets and liabilities to the new company, and further insulate themselves from what was to be imminent implosion.

This costly software sold from $2000 - $3500, and additional fees of up to $300 / month were collected for classroom training to learn how to operate the trading software. Add in dozens of more customers who paid for personal coaching from $7500 to over $20000, and the one-year income from this one endeavor totals into the millions.

Now, makes me wonder how a multi-million dollar operation dissolves after only operating 5 months this year, shuts their software servers down and leaves nearly 1000 purchasers out of the product they've purchased with the 'lifetime' of service rights. The decision to shut this company down and cease servicing customers was announced on May 31, 2011 - however, the decision to close the company bank account and withdraw all funds appears to be the first order of business, as the bank accounts of this corporation were closed on May 26, 2011, leaving all creditors unpaid as of that date.

In a webinar last week - 'Forex Joe' Atkins appeared to give his blessing to a questioner who offered the notion of a possible 'class-action' lawsuit, when Joe replied - Good Luck with that !
So with Mr Atkins blessing, it appears time to take action.

This report was posted on Ripoff Report on 06/09/2011 12:03 PM and is a permanent record located here: http://www.ripoffreport.com/r/Options-University-Brett-Fogle-Joe-Atkins/Boca-Raton-Florida-33432/Options-University-Brett-Fogle-Joe-Atkins-Options-University-Group-LLC-OptionsU-Forex-T-738822. 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:
0Author 2Consumer 3Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Still misleading and untrue

AUTHOR: Brett Fogle - (United States of America)

I maintain these facts are still incorrect and point any readers to the points above. Regardless of who wrote this it's still largely off base and misleading.
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#2 UPDATE EX-employee responds

Wrong Again

AUTHOR: Foolmeonce - (USA)

Mr. Fogle states in #3 above that I am the one making this statement and the claims in this post.

He has his facts wrong (again). I am Jan Avant and although I have logged other complaints against Mr. Fogle, Mr. Atkins and their business dealings within Mastery Products and Options University, this post was NOT placed by me and I would advise him and others to be certain before dropping names in this Forum.
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#3 UPDATE EX-employee responds

Check your sources

AUTHOR: Foolmeonce - (USA)

Check your sources Brett - I had nothing to do with this posting. However it is clear that I am not the only one who sees that you are up to bad business.

Stop using my name in references to posts that I had NOTHING to do with.

Jan
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#4 REBUTTAL Individual responds

False and Misleading Complaint - Misrepresentation of Facts

AUTHOR: Brett Fogle - (United States of America)

I would like to respond to this complaint again.

1.  While I was involved in this venture as a partner, there was no involvement by Options University other than a marketing relationship.  Different partners, staff, offices, everything.

2. I was never aware of or approved the promise of 'lifetime services'.  The other parties made a hasty promise on a webinar (Both Gary and Joe) that should not have been made, but nevertheless when the software was turned off - it was I that intervened that demanded that it be turned back on.

3. The notion above that we formed the new LLC to insulate us from implosion is a gross misrepresentation of facts and untrue.  Jan Avant who is making this complaint has no knowledge of the internal conversations among the parties and so should not be commenting here or offering her opinion. 

   > The facts are that the 'guru' that we had found and was teaching classes and whom Jan was working closely with, had demanded some ownership possibility for his efforts. Because he and his wife had a history of being incredible difficult, demanding, and adversarial - we did not want to be partners with them in the parent company OU Forex Trader.  The only creative solution, to which they agreed to and were happy with, was to create a new LLC just for the product line they were teaching and producing, called Mastery Product.  It was never to hide or insulate the principals.

And it proved to be the right decision, because these people turned out to be impossible to appease or to make happy.  And in the end, they were directly responsible for our decision to end the business relationship.  They made repeated inappropriate comments and demands to me, and on a personal level had many indiscretions that affected me emotionally, as well as direct verbal and written attacks. 

Nobody should have had to endure the verbal and written abuse that I endured with these two.

I am however, very saddened and disappointed that our mutual students had to suffer, and worse that this has been misrepresented to indicate that it was my fault or that I could have done anything more to salvage this relationship. I could not. I was doomed to fail, and it failed because of rampant egos by the 'gurus'.  I'm being unfairly victimized here and will be contacting my attorney to contact Mrs. Avant to cease posting false accusations about me here.
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#5 REBUTTAL Individual responds

Facts are Incorrect

AUTHOR: Brett Fogle - (United States of America)

First, we regret that this service and the company mentioned here had to be wound down, and that any customers were affected by this.  We have always done our best to provide quality service and the best software and education available.

I do have to note here, as I have in other posts, that this is an unrelated company and product to Options University.  

While we regret that Mastery Products LLC didn't work out (despite valiant efforts to save it), the facts in this person's report are incorrect.

Here are the facts:

1.  Mastery Products LLC was not setup as a 'new strategy' as stated.  But because the person doing the education demanded to become a 'partner' and we did not (for business and personal reasons) NOT want him to be a partner in Forex Trader, the parent company, we formed Mastery Products, LLC

2. This is all very well known an documented internally, and was not done in any way to avoid or prepare for 'imminent implosion'.  We were trying to save the company and services for the customers, despite our not wanting to continue business relations with this individual teaching the course.

3. In the end, were unable to resolve our irreconcilable differences, despite extensive mediation and attempts to be reasonable.  After putting up with the abusive demanding nature for over a year, we decided to call it quits and wind down the operation. It was not our intention to harm or adversely affect any students. This other individual is every bit as responsible for what ultimately occurred.

4. ALL CUSTOMERS who paid for the software are able to continue using it. There was a brief 30 day window where this was shut off at the advice of our corporate counsel, but I insisted that customers have access to what they paid for, and it was turned back on and is still on today.

5. We have never offered $20,000 coaching.  We did not collect millions as stated. And we delivered / and or offered appropriate alternatives to any remaining undelivered 'Platinum' events, which for most was only one.  The option to replace the speaker was clearly stated in all contracts up front.

6. The company has paid out refunds well into the mid-five figures, and is still settling the obligations to vendors.  So if anybody is adversely affected, we are as well.  We have suffered financially from this break up, and I have personally resigned from the parent company prior to September of this year.

7. There is no class action suit that we are aware of, planned or in action.

To restate, this has nothing to do with Options University.
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