ED Magedson – Founder
Ascend 1 Pty Ltd8/435 Miller Street Canneray, Select State/Province Australia
Ascend-1 is an Australian based company offering sports Betting software for $1000.00. You then open a sports betting account (prefferably with a company supposedly in Costa Rica called Ultimate Sports Bet) and they start betting on your behalf.
The idea is that you bet 10% of your bank for 5 bets and then at the end of that period you bet 10% of the new bank. They claim that you will reach a $10,000 bank in 3 to 4 months and after that they take a 10% fee from all winnings.
Originally the account grew from $1000 to $1500 in a matter of a couple of weeks. I was then offered an accelerated programme for $10,000. I declined this offer and from that period my bank has declined to $64.00.
This is obviously a scam and their MO is that they want tro introduce the software to the USA and require 5000 Australian investors to prove to the US that it is a legitimate programme.
5000 multiplied by $1000 is not bad plus the $1000 invested gone somewhere.
If you are approached to join this scheme stay well clear of it.
This report was posted on Ripoff Report on 12/06/2009 04:30 PM and is a permanent record located here: http://www.ripoffreport.com/reports/ascend-1-pty-ltd/canneray-select-stateprovince-2062/ascend-1-pty-ltd-sports-betting-scam-with-horrible-results-canneray-australia-534859. 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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