• Report: #23530

Complaint Review: Wall Street Underground

  • Submitted: Wed, June 26, 2002
  • Updated: Sun, September 07, 2003

  • Reported By:Kaohsiung ROC
Wall Street Underground
www.wsufn.net , U.S.A.

Wall Street Underground ripoff deceptive company Kansas

*Consumer Suggestion: Administrative and Technical Contact: hdman35@yahoo.com

*Consumer Suggestion: Administrative and Technical Contact: hdman35@yahoo.com

*Consumer Suggestion: Administrative and Technical Contact: hdman35@yahoo.com

*REBUTTAL Individual responds: No great problems with Wall Street Underground -Nick

*Consumer Comment: I too was a subscriber to Nick Guarino

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Perhaps about five years ago I sent $5000 to Wall Street Underground, taking them up on an offer to be advised regarding the coming crash of the stock market, which Nick was obviously sure would go down before the arrival of the new millenium or about that time. If it did not, I would be able to get my money back or at the least would receive a lifetime subscription.

I never asked for my money back because, frankly, I was happy to get the information Nick puts out. In fact, Nick has proven on a number of occasions that he knows what he's talking about and knows how to trade the markets. He also sounds like he is not afraid to tell the truth and really cares about his subscribers, i.e., that he wants to protect their best interests and show them how to make money. Also, Nick's services have even been offered through people like Martin Weiss, who impresses me as being most forthright; thus, it seemed like Martin was endorsing him.

Well, you guessed it: I was shut out of the website. Starting from last week my password has been repeatedly rejected. That left me with NO options since, oddly and suspiciously enough, the site publishes no email address through which you can contact Nick or WSU. Nor did they ever print a phone number. Yesterday, however, when trying to enter the site, for the first time they published a phone number for those having trouble getting in. So last night I called the number and got--you guessed it again--the run around.

I told the flippant young salesman (he called himself the "Chief Salesman" but obviously knew nothing about selling) about the offer I was made. He then said WSU never made such an offer but asked me to call another number to see if I was in their database. I called and I was not. The woman on the line then gave me another number (an entirely new one) and I got the illustrious "Chief Salesman" again.

Now, instead of saying something like, "I'll find out about that for you," or "I'll talk to Nick to verify that", or "Let me look into that", he flat-out told me again that WSU had never made such an offer. Upon my query, he told me he had been with the organization three years. I responded that I didn't want to be rude but he didn't know what he was talking about. That's when he assured me he did and sealed that remark with the statement that he was their "Chief Salesman".

Of course, he tried to sell me another year's subscription for another $5000 so he was at least half-right in his self-description, but he also asked if I had any proof of having sent in the money. Of course, it would do no good to produce such proof because he would then say that that was merely their annual fee and did not entitle me to lifetime service.

The thing I'm sorry about most is losing the service because, frankly, I really like the wealth of information Nick provides and he must work very hard at getting and analysing it--and he does sound most sincere, like he really cares about what's going on in the world. For example, he'll often say something like, "It's a shame," "It's tragic", or "I'm so angry about this," when referring to all the scams on Wall Street (and in Washington, e.g., Enron, etc.) and how it just wants to take your money. So, either Nick is false to the core and a better scam artist than the best of the Wall Street crowd or he is somehow unconscious of the fact that promises are being made in his name and not being kept.

From the number of other complaints about him on this site, it seems like, alas, he's a master scam artist. (Who can one trust?) It's just hard to reconcile this probability with all the sincere-sounding lamentations he makes on behalf of the abused investors, including "Auntie Em", his symbol of the poor old woman sending her retirement money to Wall Street to invest in her own best interests. Go figure!

The most satisfying moment was when I slammed the phone down on that jerk of a salesman after he told me they had no email address, and "Why do you need one? We have phone numbers." Somehow he didn't seem to be aware that email is cheaper (I live in Taiwan so even toll-free numbers to the States are not free), often more convenient, and leaves a permanent record to which the receiver can respond at his/her convenience. Plus, as I said, no phone numbers were provided until yesterday. So, to save my intelligence from further insults, I voted with my fist!

Bottom line: either return my money, Nick, or allow me permanent access to your website!

Stephen
Kaohsiung, Other

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This report was posted on Ripoff Report on 06/26/2002 10:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wall-Street-Underground//Wall-Street-Underground-ripoff-deceptive-company-Kansas-23530. 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 4Consumer 1Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Administrative and Technical Contact: hdman35@yahoo.com

AUTHOR: Jacqueline - (U.S.A.)

Your password might be getting rejected because the site is experiencing technical difficulties. This could also be a case of mistaken identity, in their book keeping. Maybe they have confused your account information with someone else's or there is some other clerical error.

I don't know anything about this business, and will not pretend to know.

I just wanted to share this contact information, in case someone needs it:

Registrant:
Web Fulfillment Centre, Inc. (WSUFN4-DOM)
1144 Booth
Kansas City, KS, 66103
US

Domain Name: WSUFN.NET

Administrative contact and Technical:
Mr.Lawrence Golt (LGB228)
Wallstreet Underground
Villaverde No 7.3, Guardacorte,
Los Barrios Cadiz
ES
1-636-121390 FAX: 1-956-778195
Record expires: 12-Sep-2005
Record created: 14-Sep-2002
Database last updated on 7-Sep-2003

EMAIL: hdman35@yahoo.com

"More contact informtion can be found in the RIPE database at http://www.ripe.net/whois"

"This informtion comes from the WHOIS database through Network Solutions, who reserves the right to change this information at any time. Network Solutions does not garauntee its accuracy."

Sorry, had to mention that for the record.

Well, wish I knew more about stock, and hope this helps.

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#2 Consumer Suggestion

Administrative and Technical Contact: hdman35@yahoo.com

AUTHOR: Jacqueline - (U.S.A.)

Your password might be getting rejected because the site is experiencing technical difficulties. This could also be a case of mistaken identity, in their book keeping. Maybe they have confused your account information with someone else's or there is some other clerical error.

I don't know anything about this business, and will not pretend to know.

I just wanted to share this contact information, in case someone needs it:

Registrant:
Web Fulfillment Centre, Inc. (WSUFN4-DOM)
1144 Booth
Kansas City, KS, 66103
US

Domain Name: WSUFN.NET

Administrative contact and Technical:
Mr.Lawrence Golt (LGB228)
Wallstreet Underground
Villaverde No 7.3, Guardacorte,
Los Barrios Cadiz
ES
1-636-121390 FAX: 1-956-778195
Record expires: 12-Sep-2005
Record created: 14-Sep-2002
Database last updated on 7-Sep-2003

EMAIL: hdman35@yahoo.com

"More contact informtion can be found in the RIPE database at http://www.ripe.net/whois"

"This informtion comes from the WHOIS database through Network Solutions, who reserves the right to change this information at any time. Network Solutions does not garauntee its accuracy."

Sorry, had to mention that for the record.

Well, wish I knew more about stock, and hope this helps.

Consumer Advocate
Rip-off Report
Volunteer
Respond to this report!
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#3 Consumer Suggestion

Administrative and Technical Contact: hdman35@yahoo.com

AUTHOR: Jacqueline - (U.S.A.)

Your password might be getting rejected because the site is experiencing technical difficulties. This could also be a case of mistaken identity, in their book keeping. Maybe they have confused your account information with someone else's or there is some other clerical error.

I don't know anything about this business, and will not pretend to know.

I just wanted to share this contact information, in case someone needs it:

Registrant:
Web Fulfillment Centre, Inc. (WSUFN4-DOM)
1144 Booth
Kansas City, KS, 66103
US

Domain Name: WSUFN.NET

Administrative contact and Technical:
Mr.Lawrence Golt (LGB228)
Wallstreet Underground
Villaverde No 7.3, Guardacorte,
Los Barrios Cadiz
ES
1-636-121390 FAX: 1-956-778195
Record expires: 12-Sep-2005
Record created: 14-Sep-2002
Database last updated on 7-Sep-2003

EMAIL: hdman35@yahoo.com

"More contact informtion can be found in the RIPE database at http://www.ripe.net/whois"

"This informtion comes from the WHOIS database through Network Solutions, who reserves the right to change this information at any time. Network Solutions does not garauntee its accuracy."

Sorry, had to mention that for the record.

Well, wish I knew more about stock, and hope this helps.

Consumer Advocate
Rip-off Report
Volunteer
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#4 REBUTTAL Individual responds

No great problems with Wall Street Underground -Nick

AUTHOR: Reita - (U.S.A.)

I too signed up for the VIP service from the Wall Street Undergound-Nick. However, I have made monies using the information that Nick has given. He always tells you not to overtrade, which was a costly time for me, but I have learned from my mistakes. I had a small problem when I first subscribed for 2 years, and my time is about to expire, but I will sign up again. I know that Nick is absolutely correct in discribing the crooks on Wall Street, and that we are definately headed for another Great, or should I say Greater Depression. Read you history of what happened in the roaring 20"2 and compare with the roaring 90's, and thuly the Market Bubble, both then and now. I have read other investor analists, and they all promise you, that you will make money. You have to learn what to belive and what not to belive. You also have to watch the Markets, and what you are trading, and consider if you want to take the risk of trading a certain contract. This is not only for the wealty, but for all who want to learn how to make some additonal dollars, trading future contract.
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#5 Consumer Comment

I too was a subscriber to Nick Guarino

AUTHOR: Randy - ()

I subscribed to eWSU several years back and was promised a very large return from the forthcoming market crash. I too paid my $5000 for a years service and considered it money well spent. About 3 months later, following his advice, I lost tens of thousands of dollars. While I recall his money back guarantee to be for 12 months, I stayed with him. I now needed his market insight to help regain my losses and earn back my initial $5000 subscription cost. I believed Nick to be sincere and was happy to see my subscription continued for about 3 more years.

My story closely parallels Stephen's account. We both believe in Nick's predictions of future market moves and believe in his insights and commentary.

Stephen and I both lost our service at the same time and after a few days were shown a phone number to call if we had problems logging on. Like Stephen, I too was told that my subscription had run out, but was offered $1000 off for another years subcription. I declined.

A month or so back I sent in a rebutal to this site defending Nick. I still believe in the guy. It's just that he never lived up to his promisses. His position exit faxes came too late, I was trusting him to alert me to extreme market turn-arounds. By the time the faxes arrived, most of my profits were gone.

I know that Nick can't predict exact highs and lows, he does seem to have an uncanny way of entering markets and has a good way of layering on positions to maximize profits. My complaint is that he lead a lot of us astray in his market miscalculation in the fall of '98. I lost a fortune and was hoping that he could and would continue giving me his news, alerts and commentary until I at least reached a break even point. Sure the last 3 years have been a freebie on Nick, but it doesn't cost him much to continue his website services to a few extra subcribers. We aren't likely to pay $5000 again for his service until we can actually justify it with profits over and beyond $5000 per year.

While the above is not exactly a rebutal, I tried earlier to write an actual Rip-Off Report, but, as Stephen stated, Nick doesn't publicize his e-mail or mailing address.

I like Nick and miss his news, he really likes what he is doing, but his services are more geared for the very wealthy. Those that can stand to lose $100k for the chance of making several million, don't mind a little ranting, raving and cussing, are prepared to learn how world politics are played and want the inside scoop on what is going on or is about to happen, Nick is top on the list.

Though Nick never really lived up to his promise, perhaps if I were better funded, I could have regained my earlier losses and made a killing in his later recommendations. As it was, I may have missed a few opportunities, as I was trying to replenish my commodity trading account.
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