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Report: #277162

Complaint Review: Gryphon Financial - Internet

  • Submitted:
  • Updated:
  • Reported By: collegeville Pennsylvania
  • Author Confirmed What's this?
  • Why?
  • Gryphon Financial gryphonfinancial.net Internet U.S.A.

Gryphonfinancial.net Gryphon Financial Gryphon Financial Claims of 100% profits caused me thousands of dollars in LOSSES New York Internet

*Consumer Comment: Response on Behalf of Gryphon Holdings, Inc.

*Consumer Suggestion: Diddo Rip off Gryhpn Financial

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Gryphonfinancial.net gives investment advise and has several services. It started out as an email to my inbox of claims of 100% or more in 3 to 4 weeks time. The email also said that I could try the service risk free.

So I called and they first wanted me to sign up for a year for a special price of $1250 dollars. When I said NO, they then said to try a trial subscription for 2 months for $99.00. The supposed regular yearly fee was $2500 dollars and quarterly was $325 dollars. I subscribed for the trial to "Raging Bull" and began getting stock and option picks weekly via email.

Over the 2 month period I tracked every one of their recommendations and bought eleven of their recommendations. What a mistake that was. I lost money on every stock I bought. Nearly every one of the eleven stocks went down 25 % or more during the time I subscribed. Luckily, I didn't buy any of the options they recommended. Most, if not all, of them went down in value and expired worthless. A 100% Loss.

After the 2 months were up, I called them and asked for the $99.00 dollars back because I thought that's the least they could do for me. They said that there was no refunds. I never did get my money back.

I am extremely dis-satisfied with the service and am writing this report to warn others about this internet company and their ridiculous claims and false advertising. Do not be the victim that I was. It's not the $99.00 dollars that makes me mad its the fact that on nearly every one of the eleven stocks I bought I lost 25% of my money.

Joe
collegeville, Pennsylvania
U.S.A.

This report was posted on Ripoff Report on 10/04/2007 07:41 PM and is a permanent record located here: https://www.ripoffreport.com/reports/gryphon-financial/internet/gryphonfinancialnet-gryphon-financial-gryphon-financial-claims-of-100-profits-caused-me-277162. 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

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REBUTTALS & REPLIES:
0Author
2Consumer
0Employee/Owner

#2 Consumer Comment

Response on Behalf of Gryphon Holdings, Inc.

AUTHOR: Adorno & Yoss Llp - (U.S.A.)

POSTED: Wednesday, September 17, 2008

This response is being posted by Adorno & Yoss LLP, counsel to Gryphon Holdings, Inc. d/b/a Gryphon Financial (Gryphon). We have been requested by Gryphon to respond to the false and defamatory statements posted in Report No. 277162.

The service purchased by Joe enabled him to receive stock recommendations via e-mail. Gryphon makes very clear on its website that it is an educational service--not an investment advisor, stating in its Disclaimer:

GryphonFinancial.net is an educational service, not an investment advisor. All subscribers to each service receive the exact same trading signal publications. Active trading is not for everyone; please speak to your investment advisor before determining the suitability of GryphonFinancial.net educational services for your objectives and risk tolerance.

The Disclaimer further unambiguously states that the recommendations provided by Gryphon are not guaranteed.

When consumers visit Gryphon's website, they must agree to the terms and conditions specified therein and enter their credit card information in order to enroll in any particular service. The webpage clearly provides the Risk Disclosure, which states:

The risk of loss in tradingcan be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:

(1) You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the commodity futures market, and you may incur losses beyond these amounts
(2) Under certain market conditions, you may find it difficult or impossible to liquidate a position.

Our client's Return Policy, also detailed on the website, makes clear that ALL CHARGES ARE NON-REFUNDABLE. In order to register for the service, Joe was required to agree to both the Risk Disclosure and the Return Policy. There is, therefore, no basis for him to claim that he is entitled to a refund.

Gryphon has authorized Adorno & Yoss LLP to initiate any and all actions as may be necessary to prevent defamatory statements from being posted about its company on the Internet and will do so in the appropriate judicial forum, not on the Internet through an anonymous name.

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#1 Consumer Suggestion

Diddo Rip off Gryhpn Financial

AUTHOR: Dan - (Canada)

POSTED: Thursday, January 17, 2008

I too had the same results what a scam and no refunds.
Dan

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