• Report: #112446

Complaint Review: Wall Street Underground - Nick Guarino

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  • Submitted: Mon, October 11, 2004
  • Updated: Mon, November 15, 2004

  • Reported By:longwood Florida
Wall Street Underground - Nick Guarino
1658 N Milwaukee Ave Chicago, Illinois U.S.A.

Wall Street Underground - Nick Guarino Ripoff Ripped Off by Chicago Illinois

*UPDATE EX-employee responds: help for victims of nick guarino

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In March, 2003, I subscribed to the Electronic Wallstreet Underground and paid $5,000 for trading recommendations from NICK GUARINO for trading in the futures market. The subscription included a 100% money back guarantee for up to 1 year for any dissatisfaction with the service.

After losing some $8,000 from trades I decided to cancel my subscription and request a refund. I called WSU (888-229-7878) on 10/21/03, spoke to "Mark" and requested a refund. Mark said it would take 30-90 days to issue a refund by check. Of course no check ever arrived!

On 12/30/2003 I called to check on the status of my refund and was told that I needed to speak with John Hogan (maybe Holden?) about refunds and he wasn't available. I finally reached John H on 01/09/2004 and he said that the refund was in process and to call back if I had not received a check by 01/23/2004.

I called John again on 02/03/2004 as I had not received the refund check and he told me that it would take another 6-8 weeks to issue the refund..no explanation for the delay.

I have since contacted WSU & John Hogan several times and continue to receive the same BS message that it will take 6-8 weeks.

I also sent a certified letter to WSU on March 19, 2004 (before the expiration of the ONE-YEAR REFUND GUARANTEE PERIOD) requesting a refund of the $5,000.00 and received a return receipt.

I have filed complaints with the Attorney Generals in Florida & Kansas, the FTC, and filed a mail fraud report. I have received acknowledgements of the filings but not much else.

I mentioned this problem to an investment broker at the firm I was using for the trades and was told that if I filed a second complaint with the attorney general, WSU would issue a refund. I filed a second complaint & still no action!

Is there a possibility of doing anything via some type of "class action" suit? Anybody have any luck with a refund?

THESE GUYS DESERVE SOME SERIOUS JAIL TIME!

Brad
longwood, Florida
U.S.A.

This report was posted on Ripoff Report on 10/11/2004 06:29 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wall-Street-Underground-Nick-Guarino/Chicago-Illinois-60647/Wall-Street-Underground-Nick-Guarino-Ripoff-Ripped-Off-by-Chicago-Illinois-112446. 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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Updates & Rebuttals

#1 UPDATE EX-employee responds

help for victims of nick guarino

AUTHOR: Stewart - (Ireland)

hi guys,
my name is stewart dollery and im an ex employee of wallstreet underground run by SCUMBAG nick guarino.
i would like to help ye get ure money back by offering all information i have on the company which is quite extensive.

i am also available to r
testify against the company if any of u are involved in a lawsuit against nick.

not only that but i have hundreds of pages of documentation belonging to the company and 4 other ex employees are also willing to testify.
this selfish evil man must be stopped!!!
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