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Report: #290237

Complaint Review: Pinnacle Quest International ,PQI - Internet

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  • Reported By: San Diego California
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  • Pinnacle Quest International ,PQI pqi.cc Internet U.S.A.

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PQI is a company that claims to help regular folks get in touch with legitimate high-return investment opportunities that are not open to the general public. You can pay anywhere from $6500 to $18k to go to offshore seminars and hear about these investments. Then, off course, you need more $ to actually invest. They (PQI) claims to investigate the legitimacy of the companies/individuals they have speak at the seminars and only have those opportunities available that have a good track record.

Here's my story:

If you're considering going to the Q2 seminar DON'T DO IT!

I invested ALOT of money with a company whose rep spoke at the seminar. They did some kind of stock trading with a computer program that made about .5% per trading day (double your money in one year, basically). I invested about $12k and was excited when my account started to go up daily. To make a very long story short, after about 8 months, the guy running the investment said something happened to the fund and it was "lost" in a day of trading. I felt like I'd been kicked in the groin.

To add salt to the wound, I had actually taken about $3k out of the investment before it tanked and put it into an online "credit union" (for lack of a better term) called MYICIS, whose rep ALSO spoke at the seminar. The money was stolen by the owner, Wayne Hicks & wife and the feds shut him down.

And if that wasn't enough, I had another investment with globalonlinedepository.com where another $3k disappeared after the SEC shut it down. These guys didn't actually speak at the seminar but the investment was highly recommended by several PQI folks.

What angers me is that PQI supposedly investigates these businesses to see if they're legit or not. Bottom line is, they didn't do their job and it costs alot of folks a WHOLE lot of money. Their disclaimer is to "do your due diligence" and investigate the companies yourself so they don't have to take reponsibility. How is the average guy supposed to do this? Hire a private investigator? After paying about $7,000 to hear about all these great opportunities, then I'm supposed to further investigate these offshore companies presented? Gheez.

I guess you simply cannot trust anyone.
That was a Hard Lesson.

Hard lesson
San Diego, California
U.S.A.

This report was posted on Ripoff Report on 12/10/2007 08:26 AM and is a permanent record located here: https://www.ripoffreport.com/reports/pinnacle-quest-international-pqi/internet/pinnacle-quest-international-pqi-read-this-before-you-go-sign-up-for-q1-q2-san-dieg-290237. 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:
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#3 Consumer Comment

Hard Lesson on Due Diligence apparently overdue

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

POSTED: Tuesday, December 11, 2007

The same negative things said here about these investments could be said about literally thousands of investment opportunities around the world every day. It happens; welcome to the world of INVESTMENTS. But just because a friend introduces you to the love of your life and you marry her, if she turns out ugly in 20 years, don't blame HIM and say that he ripped you off! You've got to take responsibility for yourself - whether deciding to marry a girl ... or invest your money.

Are you an adult ... or are you a child? Because you go to a place where you are given more freedom to make investment decisions than you can at home, don't blame those who gave you that opportunity when everything does not pan out as nicely as you (and they) wished! You knew you were going to be given that kind of opportunity, or you would never have paid for a ticket to attend.

You say that you were very happy with your investment for 8 months, so for 8 months it was doing everything that you had hoped it would, right? For 8 months, YOU would have said that the company had a "pretty good track record." (So, for 8 solid months, you would have been a poster child for this seminar company, right?) If you suffered no ill fortune until 8 months (an eternity in the investment world) had passed, whose fault was it? Could the person/company who introduced you to it have known that was going to happen? Did he make money off of you when the investment reversed? No and no. You had a private relationship with the company you invested with, right?

But you heard right: YOU have to do your OWN due diligence. You did not pay this educational company to do it for you, and they told you from the get-go that they had not, that YOU had to do it, right? (You admitted as much.) You bragged that the investment they told you about did well for 8 solid months. Did you listen to their due diligence instruction or their advice to pull your initial investment money out as soon as you had earned it back - before those 8 months were up? You ask, "How is the average guy supposed to do this? Hire a private investigator? After paying about $7,000 to hear about all these great opportunities, then I'm supposed to further investigate these offshore companies presented?" The answer, my friend, is YES. Whatever it takes for YOU to know the facts until YOU feel safe enough to invest YOUR own funds, to take complete responsibility for YOUR own financial decision and not blame someone else for your loss, YES, that is what YOU are supposed to do. It is what this educational company TOLD you to do, and you cannot blame someone else that you did not do what you were supposed to do. It is nobody's fault but your OWN. The egg is on YOUR face, and now you've just posted it on the internet for the whole world to see.

By the way, if you find a company that does all of your due diligence for you, that GUARANTEES positive returns on all of the investments they let you hear about, and that sells you a ticket to an event where you can get that information for around $7000, PLEASE post it here for the rest of us to learn about, will you?

- a Truth Teller and a True Friend (one not afraid to tell you what you need to hear)

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#2 Consumer Comment

Hard Lesson on Due Diligence apparently overdue

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

POSTED: Tuesday, December 11, 2007

The same negative things said here about these investments could be said about literally thousands of investment opportunities around the world every day. It happens; welcome to the world of INVESTMENTS. But just because a friend introduces you to the love of your life and you marry her, if she turns out ugly in 20 years, don't blame HIM and say that he ripped you off! You've got to take responsibility for yourself - whether deciding to marry a girl ... or invest your money.

Are you an adult ... or are you a child? Because you go to a place where you are given more freedom to make investment decisions than you can at home, don't blame those who gave you that opportunity when everything does not pan out as nicely as you (and they) wished! You knew you were going to be given that kind of opportunity, or you would never have paid for a ticket to attend.

You say that you were very happy with your investment for 8 months, so for 8 months it was doing everything that you had hoped it would, right? For 8 months, YOU would have said that the company had a "pretty good track record." (So, for 8 solid months, you would have been a poster child for this seminar company, right?) If you suffered no ill fortune until 8 months (an eternity in the investment world) had passed, whose fault was it? Could the person/company who introduced you to it have known that was going to happen? Did he make money off of you when the investment reversed? No and no. You had a private relationship with the company you invested with, right?

But you heard right: YOU have to do your OWN due diligence. You did not pay this educational company to do it for you, and they told you from the get-go that they had not, that YOU had to do it, right? (You admitted as much.) You bragged that the investment they told you about did well for 8 solid months. Did you listen to their due diligence instruction or their advice to pull your initial investment money out as soon as you had earned it back - before those 8 months were up? You ask, "How is the average guy supposed to do this? Hire a private investigator? After paying about $7,000 to hear about all these great opportunities, then I'm supposed to further investigate these offshore companies presented?" The answer, my friend, is YES. Whatever it takes for YOU to know the facts until YOU feel safe enough to invest YOUR own funds, to take complete responsibility for YOUR own financial decision and not blame someone else for your loss, YES, that is what YOU are supposed to do. It is what this educational company TOLD you to do, and you cannot blame someone else that you did not do what you were supposed to do. It is nobody's fault but your OWN. The egg is on YOUR face, and now you've just posted it on the internet for the whole world to see.

By the way, if you find a company that does all of your due diligence for you, that GUARANTEES positive returns on all of the investments they let you hear about, and that sells you a ticket to an event where you can get that information for around $7000, PLEASE post it here for the rest of us to learn about, will you?

- a Truth Teller and a True Friend (one not afraid to tell you what you need to hear)

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#1 Consumer Comment

Hard Lesson on Due Diligence apparently overdue

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

POSTED: Tuesday, December 11, 2007

The same negative things said here about these investments could be said about literally thousands of investment opportunities around the world every day. It happens; welcome to the world of INVESTMENTS. But just because a friend introduces you to the love of your life and you marry her, if she turns out ugly in 20 years, don't blame HIM and say that he ripped you off! You've got to take responsibility for yourself - whether deciding to marry a girl ... or invest your money.

Are you an adult ... or are you a child? Because you go to a place where you are given more freedom to make investment decisions than you can at home, don't blame those who gave you that opportunity when everything does not pan out as nicely as you (and they) wished! You knew you were going to be given that kind of opportunity, or you would never have paid for a ticket to attend.

You say that you were very happy with your investment for 8 months, so for 8 months it was doing everything that you had hoped it would, right? For 8 months, YOU would have said that the company had a "pretty good track record." (So, for 8 solid months, you would have been a poster child for this seminar company, right?) If you suffered no ill fortune until 8 months (an eternity in the investment world) had passed, whose fault was it? Could the person/company who introduced you to it have known that was going to happen? Did he make money off of you when the investment reversed? No and no. You had a private relationship with the company you invested with, right?

But you heard right: YOU have to do your OWN due diligence. You did not pay this educational company to do it for you, and they told you from the get-go that they had not, that YOU had to do it, right? (You admitted as much.) You bragged that the investment they told you about did well for 8 solid months. Did you listen to their due diligence instruction or their advice to pull your initial investment money out as soon as you had earned it back - before those 8 months were up? You ask, "How is the average guy supposed to do this? Hire a private investigator? After paying about $7,000 to hear about all these great opportunities, then I'm supposed to further investigate these offshore companies presented?" The answer, my friend, is YES. Whatever it takes for YOU to know the facts until YOU feel safe enough to invest YOUR own funds, to take complete responsibility for YOUR own financial decision and not blame someone else for your loss, YES, that is what YOU are supposed to do. It is what this educational company TOLD you to do, and you cannot blame someone else that you did not do what you were supposed to do. It is nobody's fault but your OWN. The egg is on YOUR face, and now you've just posted it on the internet for the whole world to see.

By the way, if you find a company that does all of your due diligence for you, that GUARANTEES positive returns on all of the investments they let you hear about, and that sells you a ticket to an event where you can get that information for around $7000, PLEASE post it here for the rest of us to learn about, will you?

- a Truth Teller and a True Friend (one not afraid to tell you what you need to hear)

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