• Report: #26393

Complaint Review: Wall Street Underground

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  • Submitted: Thu, August 08, 2002
  • Updated: Wed, March 11, 2009

  • Reported By:New Britain CT
Wall Street Underground
1659 N Milwaukee Ave, Chicago, Illinois U.S.A.

Wall Street Underground Almost ripped Off by Wall Street Underground deceptive company Chicago Illinois

*Consumer Comment: Nick Guiarino is not as bad as represented by those who claim to have lost money through his WSU subscription service

*Consumer Comment: Supress the Truth-what is new? at every turn of the screw regarding what the Wall Street Rip off artists are about

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My father subscribed to the wsy on 7-16-02. He died on 7-24-02.
Upon arriving at his home on 7-25-02 I began the dauntless task of going through important papers etc. Found his credit card on 7-26-02 and called to cancel it. He had charges of 6100.00+ I spoke to a rep of the co who told me there was a 5,000.00 charge to the Wall Street Underground. My father has followed the market for years and is considered an expert. I asked the
credit card co for info on how to contact WSU for a refund. It would take a few weeks for them to provide it.

As I was cleaning out the house I came across faxes starting on 7-23-03. When I read the one from 7-24-02 and got to the Whores on Wall Street I began to get a little nervous.

At his funeral I told one of his friends about this and he had one of his friend serch for WSU on the internet and of course they found nothing but did find your ripoff site and gave me copies. I was able to take this to the bank and stop the 5,000.00 from being paid out

I started to call the numbers on the rip-off reports. Merriam Kansas was disconnected. Kansas City, KS was invalid and then I tried 1-800-215-6169 and got Jake Bradley. I played like I was interested in subscribing and got the Chicago address and the web address of The Wall Street Underground.TV which does not exist. I was told I could get back issues of the news letters to see Nick's past record and how good his advise was etc.

Afte more small talk Jake asked me if I wanted to subscribe and I calmly said no and that what I wanted was to report the WSU to the Arkansas and Connecticut AG's Consumer Protection Units and I hung up. I immediately got a call back that was a hang-up.

The faxes stopped on 7-30-02 but we did get the pager. If any- one wants it, it is yours.

I hope this helps others. I was lucky.

My father was 89 when he died. There were no other referrences to the WSU other than the faxes and an empty envelope from WSU. My father was an OB/GYN doctor. He had his 1st mal practice insurance policy from the 40's. His premium was 19.00. My how things have changed. The point of this bit of trivia is my Dad saved everything and kept meticulous records. He would have unsubscribed and wanted a refund like the others.

Good luck!

Shelley
New Britain, Connecticut

This report was posted on Ripoff Report on 08/08/2002 07:07 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wall-Street-Underground/Chicago-Illinois-60647-9902/Wall-Street-Underground-Almost-ripped-Off-by-Wall-Street-Underground-deceptive-company-Ch-26393. 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 Consumer Comment

Nick Guiarino is not as bad as represented by those who claim to have lost money through his WSU subscription service

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

In 1999 I spent $5,000 for a computer, live commodity feeds, FAX and pager alerts and investing advice through Nick Guiarino and the Wall Street Uderground - including a newsletter - money well spent!
Before spending my money I subscribed to several other newsletters and financial (stock, bonds & commodities) services. Other than Louis Naveliere and Schaeffer's Investment Research, I stuffed my money down a rat hole.
By following Nick's contrarian advice I saved a large amount of money, and learned how to trade Futures. When he makes a mistake or sees a move in the markets, you got quick alerts. He gave uncanney advice concerning gold markets (Schaeffer was good for gold stocks) and seemed to have excellent contacts throughout the world.
True, he is an oddball, but when it came to giving good advice in financial matters, he couldn'rt be beat.
Some people who are disappointed in his advice, obviously were green investors, and didn't understand what they were getting into, or couldn't devote the time needed to actively trade their accounts. By following Nick's advice, it was possible to build up a tidy sum of money.
He's recently become active again, and his former WSU subscribers get advice how to prosper in our falling economy (complimentary@nickguarino.com)- Sell gold! It is ready to crash. See if he's wrong.
Read his interesting biography (written in 2004) at http://ragingbull.quote.com/mboards.cgi?board=SSC&read=3
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#2 Consumer Comment

Supress the Truth-what is new? at every turn of the screw regarding what the Wall Street Rip off artists are about

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

I was a subscriber to the Wall Street Underground and found it to be most informative and on the mark at every turn of the screw regarding what the Wall Street Rip off artists are about. I lost a fortune with Morgan Stanley and finally found Nick's site which they have shut down becasue he was the only one telling the truth now they want to silence him. It is the criminals in washingtona and on wall street with Greenspan at the helm. He is your criminal not Nick. And when what Nick has been saying comes to pass who will be naked then???? The "Emperor's Clothes" Just wait fools>
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