Report: #1200807

Complaint Review: Adam Tracy - Attorney - Wheaton Illinois

  • Submitted:
  • Updated:
  • Reported By: Rudius Holdings Group Ltd. — Houston Texas
  • Adam Tracy - Attorney 520 W. Roosevelt Road, Suite 200 Wheaton, Illinois USA

Show customers why they should trust your business over your competitors...

Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Summary of Affidavit listed below:

In September of 2014, Adam Tracy of Securities Compliance Group Ltd. has received fees for service and has egregiously refused to perform or even communicate with his clients.  Despite some payment issues from one of the 3 plaintriffs, Tracy agreed to proceed on the case and accept the payment received.  

From the period of August 2014 through the end of November, 2014 Tracy flat out refused to effectively communicate in any way with his clients.  Phone calls were not accepted, nor returned.  Emails were not answered.  Skype communications were not responded to.   The rare, infrequent incidents of communication that he chose to initiate, were continual promises to start the case, to file the case and each promise included his own self determined time frame which was typically, 'this week' or something similar. 

When he failed to perform as promised, he subsequently refused to communicate in any way, shape or form.   After 3 months of being completely disrespected and, frankly, pissed on, the clients have lost all faith and or confidence in the character of this individual and have no desire to work with him in any manner. 

In early December he feigns an interest in moving forward on the case (as always).  However, he fails to accept that the clients have no interest in working with a person of this character. 

We have demanded a return of fees paid and he refused.  


He now claims that the original agreement was not honored as one of the parties has not paid him which is true.  However, this argument ignores the fact that despite this situation, he accepted the payment which was sent and has agreed to proceed and file the case on numerous occasions.  This constitutes 'contract' with offer, acceptance and consideration.  By his continuing to use the original retianer agreement argument, which was superceded by subsequent agreement, it also indicates his incompetence as an attorney by failing to recognize that a valid contract eists.  The current contract  was created by no other than himself with his agreements subsequent to the original retainer agreement.

Clients have been misled as to his intentions with the case. 

Clients have been lied to with respect to his false promises to work on the case. 

Clients have been defrauded of their funds sent to Adam Tracy

Clients have no interest in working with a person of this character, regardless of his insistence of being willing to move forward at this very late stage which is well after clients have lost all faith and confidence in this false actor.  


Affidavit of Fact

I, the undersigned, do hereby personally attest under penalty of perjury that the following list of facts are true, complete and correct and are not misleading.  They are derived from personal first hand experience and are not ‘heresay’, so help me God! 

 1… On August 14, 2014 Adam S. Tracy, (AT) J.D., M.B.A. Attorney at Law, Securities Compliance Group, Ltd.  Located at: 520 W. Roosevelt Road, Suite 200, Wheaton, IL 60187 and with  Beverly Hills Office, 9107 Wilshire Blvd., Suite 450 Beverly Hills, CA 90210, presented a proposal and estimate for legal services relating to a financial fraud case, to three prospective clients who had agreed to be joint or co-plaintiffs in the case. 

 2… The three proposed client/plaintiffs were to be; 

a)  Rudius Holdings Group Ltd. -  Hong Kong, (Rudius)

b) Sionyx Group, Bunbury, Western Australia, (Sionyx)

c) Novoa Inc., Chicago Illinois (Novoa)

3…  August 30, 2014 parties request retainer agreement containing agreed upon terms of representation on the case. 

4…August 31, 2014 - AT sent agreement which was so loose it was unenforcable. 

5…Sept. 1, 2014 - Rudius sent AT proposed revisions

6…Sept. 2, 2014 - AT sent revised agreement in accordance with Rudius’ proposal. 

7…Sept 3, 2014 - all plaintiff parties send signed agreement to AT. 

8…Sept 3, 2014 - AT receives pro-rata retainer fee from Rudius and agrees to start work right away.  

9…Sept 16, 2014 

  • Rudius has had no communication from AT and despite several attempts via skype, email and telephone, has had no reply from AT since Sept 03. 
  • AT responds to Rudius complaint saying the other parties have not paid.
  • Clive, Rudius & AT mutually agree to drop Meza from the case for other reasons in addition to non-payment.  AT agrees to proceed on the case in good faith ‘as is’ without further payment at this time. 
  • AT commits to moving forward and having the case filed the following week.

10..Sept. 24, 2014 - 

  • Rudius complains to AT again about a communication problem.  Clients have had no communication from AT, nor has AT responded to several attempts to reach him. 
  • AT confirms again that he will hold up his end of the bargain.

11..Sept. 30, 2014 - 

  • Rudius and AT speak on the phone and AT confirms he will have the draft of the complaint ready for review ‘tonight’.  
  • Nothing was received or communicated. 

12…October 8, 2014 - 

  • Rudius and Clive send detailed email confirming their good faith intentions and expectations in developing a good relationship with AT while at the same time expressing serious concerns about the behaviour and treatment they are getting from AT. 
  • AT confirms receipt of the email and commits to ‘follow up this afternoon’. 
  • There was no follow up from AT that afternoon and Rudius emails again informing AT that they are ‘standing by’ for his communication. 

13… Oct. 10, 2014 - Rudius sends another detailed email asking AT if he has had a change of heart on the case and indicates that the relationship is in jeopardy. 

14.. October 20, 2014 - AT sends an apology and re-commits to having he case filed ‘this week’.  It wasn’t filed at all. 

15.. Nov. 05, 2014 - The communication blackout continues from AT.  Rudius sends a message to AT wishing to terminate the relationship and get a refund of the retainer fee.   

16.. Nov. 07, 2014 - AT responds and he re-commits again, asking for the chance to continue with the promise to get good results.  Clients agree to give him another chance. 

17…Nov. 10, 2014 - At confirms his intent and on this Monday, commits to having the draft ready for review on Wednesday the 12th.

18.. Nov. 30 - as of this date there was no further communication to or from AT. 

19..  AT has signed agreements to perform.  He has received funds/fees to perform.  He has failed to perform.  He has continually ignored his clients and refused any normal communication that would be expected from a professional client relationship. 

The above is confirmed by my signature below as being true complete and correct to the best of my knowledge. 

Signed on this the 31st day of December, 2014 

M. B. - Attorney in Fact

For Rudius Holdings Group Ltd - Hong Kong

www.adamtracy.net http://attorneycomplaintcenter.com/showcomplaint.asp?id=590

This report was posted on Ripoff Report on 01/10/2015 08:03 PM and is a permanent record located here: https://www.ripoffreport.com/reports/adam-tracy-attorney/wheaton-illinois-60187/adam-tracy-attorney-securities-compliance-group-ltd-deceptive-practices-fraud-attor-1200807. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
Also a victim?
Repair Your Reputation!

Updates & Rebuttals


#4 Author of original report

Rebuttal to Adam Tracy

AUTHOR: - ()

POSTED: Tuesday, May 19, 2015

Please notice how Adam Tracy's rebuttal does NOT in ANY INSTANCE address the affirmed affidavit of complaint. He has no response, no reply, no defense to the issue at hand.  He only wants to try to obfuscate the issue with 20 year old, regurgitated 'off point' news which has absolutely no relevance to the issue at hand.

Typical crooked attorney!  Can't face the facts.  Can't defend himself.  Trying diversionary tactics. That pretty much sums it up!   

Respond to this report!

#3 REBUTTAL Owner of company

Fugitive Extremist Mark Boswell Loses Further Credibility

AUTHOR: ChicagoAttorney - (USA)

POSTED: Wednesday, April 01, 2015

First, I would like to point out that the website listed above, is, in fact, the product of Mark Boswell, yet he "claims" that the website was a "public service" as opposed to his extortion attempts

The godaddy registration for the website is here


WHOIS search results for:ADAMTRACY.NET(Registered)
Is this your
Add hosting, email and more.
Want to buy
this domain?
Get it with our Domain Buy service.
Registry Domain ID: 1894474485_DOMAIN_NET-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: http://www.godaddy.com
Update Date: 2015-01-07T00:42:07Z
Creation Date: 2015-01-07T00:42:07Z
Registrar Registration Expiration Date: 2016-01-07T00:42:07Z
Registrar: GoDaddy.com, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email: abuse@godaddy.com
Registrar Abuse Contact Phone: +1.480-624-2505
Domain Status: clientTransferProhibited http://www.icann.org/epp#clientTransferProhibited
Domain Status: clientUpdateProhibited http://www.icann.org/epp#clientUpdateProhibited
Domain Status: clientRenewProhibited http://www.icann.org/epp#clientRenewProhibited
Domain Status: clientDeleteProhibited http://www.icann.org/epp#clientDeleteProhibited
Registry Registrant ID: 
Registrant Name: Mark Boswell
Registrant Organization: Zurich Management Group, S.A.
Registrant Street: PTY 16188 MBE - Marbella
Registrant Street: Calles Uruguay y 47
Registrant City: Panama City
Registrant State/Province: Panama
Registrant Postal Code: 00000
Registrant Country: Panama
Registrant Phone: +507.6774499
Registrant Phone Ext:
Registrant Fax: 
Registrant Fax Ext:
Registrant Email: strategies@cwpanama.net

Unfortunately for Mark, I have internet access as well. His new scam can be found here (you can find Mark's video about 1/2 the way down)



Somehwat  hilariously, Mark Boswell a/k/a Rex Freeman has probably assumed the inevitable as he has also registered this domain






Respond to this report!

#2 REBUTTAL Owner of company

Mark Boswell a/k/a Rex Freeman Exposed

AUTHOR: ChicagoAttorney - (USA)

POSTED: Wednesday, April 01, 2015

I unfortunately had the pleasure of dealing with Mark Boswell a/k/a Rex Freeman, who has unfortunately now embarked upon what can best be described as a poor man's extortion attempt.

To start, of course Mark Boswell is familiar with with website, as he is mentioned mutiple times on ripoffreport.com


Or perhaps his status as an international fugitive:


The best primer on Rudius Capital, Mark Boswell, his alter ego Rex Freemen, can be found by clicking here


The salient points of the well written article about Mark Boswell include:

"However, for some people the patriot movement was good business. Take one Mark Boswell, for example. A law school dropout, he formed the “American Law Club” and hosted Denver meetings at which followers of the right-wing militia movement were instructed that they could become rich by filing “non-commercial judicial liens” against their least-favorite prosecutors, judges, elected officials or companies."

"When the assembly broke for lunch, police arrested Boswell on a fugitive warrant stemming from charges that he used fake ID when stopped for a traffic violation and that he used a bogus money order to buy a Mercedes."

On defending Oklahoma City bomber Timothy McVeigh, Mark Boswell notes:

"Ten days after the deadly blast Boswell went on the air with the tale of how a former CIA guy and another “witness” had heard and obtained affidavits from — the latter conveniently not produced — two unspecified Justice Department officialsthat a shadowy “Committee of 10″ involving the Clinton White House, the Bureau of Alcohol Tobacco and Firearmsand the Secret Service (the latter both part of the Treasury Department rather than the Justice Department) were actually the ones who did the deed."

After his alleged conspiracy that was responsible for 100's of innocent deaths shed light on his fraud:

"So what’s a more patriotic than thou American huckster to do after an embarrassment like that?

First, Mark Boswell assumed the name “Rex Freeman.”

After escaping the United States for Panama facing indictment, Mark Boswell set up shop in Panama and assumed the identify of various different entities, including:


  • InterGlobal Finance SA, which is registered in Panama but lists its “administrative office” in Costa Rica, and whose website contains a revealing detail for a Panamanian company owned by an American citizen that operates out of Costa Rica: it says that it doesn’t serve clients in Costa Rica, Panama or the USA.
  • A “business club” known as the Venture Resources Group, which held a seminar this past May at the Playa Bonita Beach Resort, and whose website includes banking as one of the services it offers and lists InterGlobal Finance as the page’s copyright holder;
  • PCI Investment Club, another business registered in Panama but apparently operated out of Costa Rica; and
  • Gold Palace, an online gambling operation that apparently went under in 2004. The sportsbookreview.com website has issued a “scam alert” for this company and warns that Freeman may have reopened it under the name WinBig.Biz.

Mark Boswell's latest scam would appear to be the Venture Resource Group, which promises

"For a modest $15,000 “one time investment” in Venture Resources Group, you will be promised a half-dozen “profit centers.” “The beef,” as the website puts it, is “an entry level to Privacy Club Internacional (PCI). PCI has the Prime Rib and choice cut Tenderloin.”

Mark Boswell's business partner - none other than a convicted and seemingly incarerated individual:

"The latter work has been hawked in Panama before, by its co-author and publisher, one Marc M. Harris, now and for the next several years a resident of a US federal prison. Harris, the so-called “offshore asset protection guru,”


All this, and it brings me to the fateful day when I met Mark Boswell, Rex Freeman, or whomever he in fact is. Unfortunately, as I am an attorney, and the context of our conversations must remain private, I can say that Mr. Boswell posed as a victim but was not as represented.

Some interesting links to provide perspective: 




My personal favorite:


Rudius Trust KB 
This organization is global with actual office space.  These guys actually have money to put up a hell of a front and a ton of corporate entities and shells. Their regulatory paperwork was lacking.
Zurich Management, Grp.
Strategic Capital Partners, S.A.
Strategic Capital Services

Mark Boswell

This guy has been around.  He has gotten a lot of bad press on many trading forums and Ripp Off Report.  I can't say he has actually committed a felony but he is somehow always at the center of controversy at different trading platforms.  He has gone by various aliases within the industry.  Rudius hired him to develop their trading desk which he failed at miserably.  He is undoubtedly a filthy liar and a coward when confronted.

Rudius finally showed their hand and as expected, it was all a bluff. Their constant stall and blame it on the foreign banking system excuses finally ran out with me. I called their bluff and that jackass Mark Boswell turns out to be the "wizard" behind the curtain. You can read all about our exchanges on the Rip Off Report.  

Note: Mark Boswell tries very hard to hide his dirty deeds:


"Boswell filed a criminal "calumnia y injuria" complaint and could almost immediately count on the unconditional support of another member of the extreme right within the expatriate American community in Panama: Donald Kent Winner, a retired member of US air force intelligence who now runs the website Panama Guide. In between ripped content from legitimate news outlets, Winner promotes the often shady schemes of his "sponsors". "

The article continues:

"Filing criminal libel complaints and the frivolous use of criminal defamation laws in Panama is a tool often used by politicians, criminals and hustlers to silence journalists or even business competitors."

Perhaps the Panamanian law has caught up with Mark Boswell and/or Rex Freeman




In fact, here is a picture of Mark Boswell and the indictment handed down in the United States



THUS, that all having been said, and my ethical obligation preventing me from speaking in detail, I ask the question - please consider the source.



Respond to this report!

#1 Author of original report

The news gets worse on Adam Tracy

AUTHOR: Rudius Holdings Group Ltd. - ()

POSTED: Saturday, February 14, 2015

Doing some additional research it has become abundantly clear that the Adam Tracy ripoff of Rudius Holdings Group ltd is not a 'one off' event.  In fact, it seems to be his modus operandi as we have found 'numerous' other vicitms of this 'shyster'! 

As a public service, and warning to all, we are posting 'some' of what we've found here for your review (with the corresponding links for verification), to save any potential victims the time and trouble we've been through to put this together.  We hope that this information might help someone make the proper decision when considering to use Adam S. Tracy of Securities Compliance Group Ltd. 

====== The following 'testimonials' can be found here: 


#1...Adam failed to attend an important hearing and he failed to file an important motion. It is nearly impossible to reach him by phone, he seldom returns callls and he does not respond to most emails. 

The only thing he does with any degree of regularity is to cash your check. He really hung me out to dry. It is a real shame because he is the most knowledgeable attorney with whom I spoke on my issue.


#2...Over promises and under delivers

Posted by Phil, 4 months ago

◦I do not recommend Adam Tracy.

Adam failed to attend an important hearing and he failed to file an important motion. It is nearly impossible to reach him by phone, he seldom returns callls and he does not respond to most emails. 

The only thing he does with any degree of regularity is to cash your check. He really hung me out to dry. It is a real shame because he is the most knowledgeable attorney with whom I spoke on my issue.


#3... Snake-oil Salesman

Posted by Mike, a Foreclosure client, 6 months ago

◦I do not recommend Adam Tracy.

◦I hired Adam 1-3 years ago.

◦Adam handled my Foreclosure matter.

◦I have previously worked with 3-5 lawyers.

We hired him to represent us in a foreclosure. We were told story after story about how he personally saved people from losing their homes and then turned around and sued the bank successfully. He sounded legit, so we hired him. The next year and a half was a disaster with this guy. He NEVER, EVER returned phone calls, he showed up to court in the morning with bloodshot eyes, and the judge seemed very upset with the way he conducted himself in court. He told us that we would have plenty of notice if we were to be evicted; we had 48 hours notice and then never heard from this guy again. We asked him to produce documents showing that he actually performed work for us and he flat-out refused to give us any documents. During a day he was suppose to be in court for us, I found his blog online where he commented how he had been out all day with his dog having fun. We paid this guy $500 a month and he did nothing for us; even worse we lost our home and had no idea since he kept us in the dark. 


If you call his office, the secretary will tell you that he is in a meeting, out of the office, or in court. The secretary will tell you that she has no idea what is going on with him or your case. When we lost our home and called Adam to find out what happened (since we were constantly assured, even a month prior, that we would not lose our home and everything was ok) his secretary suddenly knew what was going on and said "what did you expect? You haven't paid the bank so they took your home." 

Don't take my word for, search around online. This guy is a cheat, a liar, and a thief. There are many other people who have had a similar or worse experience with this guy. This man is as slimy as they come. We are seeking damages against him since he is unable to produce any documentation showing he performed work for us and he refuses to work with the state entities that are currently investigating our claim against him. How this man can sleep at night is astounding.

#4...  Don't walk..RUN from his services

Posted by a Foreclosure client, 10 months ago

◦I do not recommend Adam Tracy.

◦I hired Adam 1-3 years ago.

◦Adam handled my Foreclosure matter.

◦I have previously worked with 3-5 lawyers.

Exceptionally poor service from Tracyfirm. Requested direct contact with Adam and was always rebuffed. Does not convey what the legal circumstances may be regarding the case. Multiple loan modifications made with no results. Several years of service and not any indication of the direction or alternatives regarding the case. Had to call many times over the years on my case to find out what was going on. We would not hear anything on our case for 3 months or more from Adam's firm, and not once did Adam ever personally call. Many questions ignored when asked several times. Without due diligence on the clients part, most details are never conveyed. You are better off looking elsewhere for legal services.

 #5..,Huge disappointment !

Posted by CJ, a Foreclosure client, 2 years ago

◦I do not recommend Adam Tracy.

◦I hired Adam more than 3 years ago.

◦Adam handled my Foreclosure matter.

◦I have previously worked with no lawyers.

Adam promised help with saving my home. It went to auction the day I was in his office being reassured by Adam that he was going to save my home. He never returned phone calls and/or emails. We won in court for Bankruptcy negligence and I am moving forward with a malpractice suit. I paid him 10k and he did nothing.

#6... not worth cost

Posted by thomas, a Foreclosure client, 2 years ago

◦I do not recommend Adam Tracy.

◦I hired Adam more than 3 years ago.

◦Adam handled my Foreclosure matter.

◦I have previously worked with 3-5 lawyers.

I started off in a dire situatuion reguarding my home. It was a long shot by the time I became aware of my situation. I spoke with several of his associates before I met him all saying it was not too late and he could help. After meeting him he asurred me I had a case and not to worry. I was willing to do what ever it took to save my home. I also asked to be notified if at any point things were going south and I needed to get out. See I have 3 children and my wife just passed away. He promised he would let me know if things were not going smooth. Well he didn't I awoke one morning to polcie officers asking me to get out of my home. I tried to call him several times with no return call. Basically this is a shorten version but to this day I still never heard from him. My family has bounced back now and i have learned a hard lesson on trusting people but dont use adam tracy for anything. I paid 2500 up front and 500 dollars a month for six months for nothing.

 #7... Very unprofessional Never returns phones, Cancels Meeting,

Posted by Elaine, a Residential Real Estate client, 3 years ago

◦I do not recommend Adam Tracy.

◦I hired Adam more than 3 years ago.

◦Adam handled my Residential matter.

◦I have previously worked with 1-2 lawyers.

As a client I found him to be very unprofessional. Her starts out ok but does not finish cases. He does not return call and cancelled meeting at the last minute.

 AND From Another Source; 



Adam was hired to save my home and help negotiate with the IRS. He lost my home and never contacted the IRS. I now have no home and 30k more in fines with the IRS. He does not return emails or calls. He was able to get to the bank and take in over 10k from my bank account after I told him that he was fired. He is preying on people in foreclosure and helping take innocent people down financially. The bankruptcy court sued him for abuse of bk in foreclosures on my behalf. WE WON. The bk court urged me to file suit against him which I will.

And more links; 











Respond to this report!