ED Magedson – Founder
james cole tradersInternet USA
james cole traders james cole commodity trading - told me i should get in commondity trading - he deals in financial instruments like bank guarantees, precious gems or metals, bonds - worth 10 million and up. / the scam is that he says that these instruments need an "insurance wrap" to insure them in case something goes wrong with the trade, the wrap costs between 120k and 300k and that is what I would have to pay to get involved, once the instrument is insured, he puts it (all lies) into a high trade short term trading platform that makes ten times the value of the instrument each week, and can pay out for 10 weeks and up to 42 weeks depending on the program. I raised and sent him 122k - he said he wrapped a bond instrument with it, that was worth 100 million dollars - it went into a short term trade and made me 200 million dollars - which was waiting for me in an account at SwissQuote bank in Switzerland in a 'sub' account w/ a number assigned to me as part of thousands of company accounts he keeps there. He invented a story that he sent it to me via a bank in London, Lloyds, and there were endless complications over two months, and the funds went back to him & then he invented another story that he ws sending it to my account at bank of america, again, endless problems, three months worth, funds are arriving any day, etc, etc, TOTAL AND COMPLETE CON ARTIST AND LIAR, he cited problems with bank of america re eiving the amount of money, - I flew to France,Nice to meet him and he never would meet me - excuse after excuse - said I should open an account in Monaco at a private bank, I met with a few private bankers, at banks in MOnaco told them the amount I was expecting, 200 million dollars and almost got kidnapped!! from a cafe in Monaco. -- I came home heart broken and empty handed, HE IS WITHOUT A DOUBT THE SLICKEST, MOST SAVVY, SILVER TONGUED SWINDLER TO CROSS THE PIKE, DO NOT BE FOOLED. CALL THE FBI AND REPORT HIM. HE WORKS WITH AN ex- BANKER FROM LONDON WHO USED TO WORK WITHT HE ROYAL BANK OF SCOTLAND, named Ross. DO NOT FALL FOR THIS. KEEP YOUR HARD EARNED MONEY. was in London, now Spain, offices in Zurich, SW Internet
Met a commodities trader named James Cole, JC Traders, COMPLETE CON ARTIST, STEALING MILLIONS FROM AMERICANS, who was living in Spain in 2011 - referred by a 'friend' - met him on the phone, - he saidI should place funds with him, and could earn hundreds of millions of dollars in 10 weeks to 42 weeks depending on the program.
"The programs" were commodity trades, where I would pay for the INsurance 'wrap' or policy for the instrument, an amount from $100k to 300k depending on the instrument - the instruments were bonds, precious metals, Medium term notes, or anything that could be valued or validated by a licenced person, "in ground" mines, or money sitting in an account, large amounts. ----- historical bonds etc., a produced play, or a movie with a star attached, etc.
Told me that I could make upwards of 100 millions dollars on these trading platforms of high volume, short term trades. All I had to do was to pay for the insurance policy.
I wired $122,000 to the account of his 'attorney' - a James McDonald to a bank in Marbeilla, Spain - then he said he wrapped 10%, or 100million dollars worth of a Billion dollar instrument that he had, a bond, and he put it into trade for me and that it had made $200 million dollars & was waiting for me in a numbered account in his company's name James Cole Traders at a bank called SwissQuote in Switzerland.
Said he sent it to London to a bank there, Lloyds of london, and that there were incredible problems with getting it in there, etc, excuse after excuse, - this went on 3 months, then he said it was sent back to SwissQuote & he was sending it to my Bank of America account in the USA. Then there were all kinds of "problems" with sending that amount he said ALL LIES, HE NEVER TRADED THE FUNDS OR WRAPPED ANY INSTRUMENT, HE STOLE THE 122K. -
bUT BACK to the incredible story - said he had recalled it from Bank of America process (it never arrived, bank of america could not find it ) & that I should open an account in Monaco at a private bank - I still believed it, that he had the money - he said to fly to Nice in France and then we would go in his "private plane" to Monaco and meet with private bankers etc. - when I got there he would not see me, excuse after excuse, I met with private bankers in MOnaco, at Julius Bard bank and another private banker, told them the amount that I was expecting, $200 million dollars' -- and was almost kidnapped! (all true) sounds like a movie - from a cafe in Monaco - with these greasy guys with a white van - jumped on a bus, went to the police in Monaco, told them the whole story, was crying - (you could not think this up!) they told me not to tell anyone the amount EVER, and to go back tomy hotel in Nice and not talk to anyone, - to call them if there were more problems.
I flew home, -heart broken and empty handed, never did open an account in Monaco, - needed tax documents i did not have etc. - was still speaking witht the horrible creature, James Cole person. - finally he said the lawyer, died, whose account I sent the funds to and that they now had to restructure the company, and could not send the funds until that happened and maybe I should open an account in the Bahamas.
I called the FBI, the the NY commodities exchange, - told the story, - the friend who recommended Cole called my months later to say the FBI had called him and asked about James Cole and said he had stolen millions from American citizens with this financial swindle.
DO NOT FALL FOR IT - COMPLETE INTERNATIONAL SMOOTH TALKER, LIAR AND SCAM, RIP OFF ARTIST, THE BEST OF THE BEST, I taped many of the converstations & played them for financial people who said he sounded completely legitimate. --- he works with a Londoner, ex banker who worked at the royal bank of Scotland named Ross. - (first name) whom I met in london, he put me off too. just like Fagin in Oliver Twist.
BEWARE OF THIS MAN< JAMES COLE, JC TRADERS, JC COMMODITY TRADERS, - he's from London, now based somewhere in Spain, because its easier to rip people off from Spain, & claims to have offices in Zurich. Switzerland.
I lost 122, 000 --- I had an excellent paper trail - so I was not lilable - could show wire transfers, contracts etc. to the people I raised the funds from. $25k of it was mine.
HEART BREAKING - THEY ARE OUT THERE THESE BOTTOM FEEDERS.
This report was posted on Ripoff Report on 05/14/2014 01:54 PM and is a permanent record located here: http://www.ripoffreport.com/reports/james-cole-traders/internet/james-cole-traders-james-cole-commodity-trading-told-me-i-should-get-in-commondity-tradi-1146691. 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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