• Report: #438072

Complaint Review: WallStreetGrand.com, Gerard Adams

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  • Submitted: Thu, March 26, 2009
  • Updated: Wed, December 23, 2009

  • Reported By:Cedar Grove New Jersey
WallStreetGrand.com, Gerard Adams
www.WallStreetGrand.com Manhattan, New York U.S.A.

WallStreetGrand.com, Gerard Adams Penny stock newsletter fraud orchestrated by WallStreetGrand Manhattan New York

*REBUTTAL Owner of company: *********The Truth About Wall Street Grand************

*Author of original report: Found an interesting (and disturbing) website about WallStreetGrand.com

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I am subscribed to receive email newsletters from Gerard Adams @ WallStreetGrand.com.

On 3/22/09, I received an email from Gerard Adams about a "tip of a lifetime" that he received from his "#1 source". The email discussed a penny stock company called Sports Supplement Group, Inc. (OTCBB: SRSP).

Gerard was extremely convinced that SRSP is "as close to a sure thing that you can get" and that "none of the tips that [Gerard] has received from this source have been a loser. Below i've copied/pasted 3 paragraphs from the email alert from WallStreetGrand that recommended SRSP:

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I would take this tip very seriously because I am very confident that it is going to be a big winner for our club. In my opinion, this is not going to be a one night wonder either. Anytime I get a tip from this source it moves up gradually on a daily/weekly basis until BOOM it breaks out and runs like the wind.

This company is Sports Supplement Group (SRSP) and trades on the OTC BB. SRSP closed Friday at $0.555 and has only been trading a daily average volume of 3,162. As you can see on finance.yahoo.com the stock is a very new issue and there isn't much information out there to research. I know this may make it harder for you to research the company but it also shows how much of a ground floor opportunity this is before they start to put out news and hit the investment community. My source told me that I was one of the first groups he has told and he will be marketing the company heavily in the upcoming weeks! This is going to be HUGE! Once volume starts to come in I think this will start to move very quickly.

My source told me all about the company and I couldn't believe my ears! You have no idea how big this could be!
-------------------------

As you can imagine, I was very convinced after reading such a promising report so I bought 7,500 shares of stock in SRSP on 3/23/09. Now I understand all of the risks involved with penny stocks... but I couldn't believe what happened with SRSP just a few days after Gerard Adams at WallStreetGrand spoke so highly of the stock.

On 3/26/09, just 4 days after Gerard Adams stated that he is "99.999% sure that [SRSP] will become a very profitable winning stock pick".... SRSP lost over 90% of its value! That's right... WallStreetGrand's "huge new pick" SRSP lost over 90% of its value in one day. Want to know why WallStreetGrand's big pick dropped by 90% in one day?

On the evening of 3/25/09 SRSP reported that its financing agreement with Knights Bridge Capital Group Inc. had been cancelled and, as a result, SRSP would be unable to pay its auditors and also wouldn't have the working capital necessary to generate revenues. In a nutshell, SRSP announced that the company has very little money left and will be unable to complete its operations without a new financing commitment.

And to top all of this off... I just learned that Gerard Adams at WallStreetGrand had received compensation of $20,000 to "promote" this stock. In the disclaimer of their email, WallStreetGrand discloses that "[WallStreetGrand] has been compensated twenty thousand dollars from a 3rd party Blue Wave Advisors".

So basically Gerard Adams and WallStreetGrand got paid $20,000 to recommend a stock to me that lost 90% of its value within a week and disclosed that they don't even have enough money left to pay their auditors.

I will never forget my experience with Gerard Adams at WallStreetGrand.com and really hope that nobody else gets duped by his "tips of a lifetime" that he's "very confident" about.

Sincerely,

Mark ****
A Disturbed Investor

Wsg_fraud
Cedar Grove, New Jersey
U.S.A.

This report was posted on Ripoff Report on 03/26/2009 08:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/WallStreetGrandcom-Gerard-Adams/Manhattan-New-York-10007/WallStreetGrandcom-Gerard-Adams-Penny-stock-newsletter-fraud-orchestrated-by-WallStreetG-438072. 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 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

*********The Truth About Wall Street Grand************

AUTHOR: Gerard Adams Wall St Grand - (USA)

First, I would like to introduce myself, I am Gerard Adams President of Wall Street Grand LLC. I believe this report is nothing less than a competitor of my company trying to bash me so that a negative report is found on the web to give us less credibility but either way I would like to give our side of the story to explain who we really are. The truth of the matter is that the Stock Market is extremely risky and we always look out after our members/investors. Our members are our #1 priority and we work all year round to bring our followers consistent winners. As soon as our competitors found a loser in our track record to bash us they went ahead and filed this report. We are the most honest and loyal Company on the web for providing penny stocks to the investment community and we are always the first to tell you when we are wrong and have made a mistake. Anyone who claims to be perfect is just lying to you. Even though we feel we have the absolute BEST track record for picking small-cap stocks we do have losers (even if it is very rarely). When we do make a mistake we will be the first to admit to it, apologize, and learn from our mistakes. In this case with SRSP we did make this risky call to our following but as soon as we saw that it was in fact a "dirty dog" we immediately issued an alert stating that we are sorry for the bad judgement and that we learned from our mistake and would make it up to everyone on our next stock picks. Like I said we are not perfect but nobody is with penny stocks.

I can say that we are the best at what we do and have proved that over the many years in business growing our following significantly with tens of thousands of investors following our picks.

There is no doubt that 2009 has been the BEST year ever for Wall Street Grand with picks gaining as much as over 2,000%, 1,018%, 795%, 695%, 509%, 471% and the list goes on. Our track record speaks for itself and even though we have had losers every once in awhile we are very honest to our members which speaks for itself in our character and as you can see we make up for them in a BIG way. Our members have made astronomical profits from our picks before and after SRSP and this one loser will NOT stop us from picking more winners for our loyal members in the future. 

We do everything we can to educate our members so that they can protect themselves from any of these unexpected drops in PPS since like we always state in our disclaimer- this is a very risky business and if you can not tolerate the risk part for the big rewards then this is not a game you should play. Also, We always state to our members to use a stop loss as well to automatically sell your position if the stock drops below your risk tolerance levels or buy price. Furthermore, we write many economic reports to our members unlike other newsletters to educate our members on the current economic status, unbiased stock picks, and many of the new market trends. For instance, we already wrote reports at the beginning of 2009 on agriculture, silver, oil, gold, stem cells, inflation...etc. In fact, from our gold report alone we issued our TOP TEN GOLD PICKS and Added 5 more gold picks to the list throughout the year to add up for an average gain for all 15 gold picks of 242%!!! We are so dedicated to our members we even have Co-produced documentaries on the truth about our economy and how to prosper from the current economic collapse (see The Dollar Bubble on our video page). 

Whether this is a "disturbed investor" or a competitor bashing we apologize if you feel the need to bash our Company and possible lost on this investment. We work very hard to be honest and be profitable for our members. All of our picks go through extensive due diligence with looks at the past and future milestones of the Company with analysis on fundamentals/financials, technicals, sector, as well as being undervalued, undiscovered, and having significant upside potential. Please see for yourself by joining or following our website at WallStreetGrand.com. We are very credible in the industry and have great customer service so if you would like to discuss this matter maybe we can help make this up to you. Give us a call during market hours at 1888-925-8247. 

Sincerely,

Gerard Adams
President 
Wall Street Grand LLC

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#2 Author of original report

Found an interesting (and disturbing) website about WallStreetGrand.com

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

So i've been unable to sleep cause i'm so disguisted about losing money from WallStreetGrand.com and their SRSP pick that i've been googling them and I found a very interesting report about Gerard Adams(((Redacted)))

The site doesn't discuss much other than the fact that Gerard Adams and WallStreetGrand.com defrauded a company called Pangenex (Ticker Symbol: PGCX). The CEO of Pangenex is Jeffrey M. Roman and their corporate phone # is 813-623-6258.

I plan to call Mr. Roman ASAP and talk to him about his experiences of being defrauded by WallStreetGrand.com. I'll be sure to update this thread if I learn anything interesting.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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