Complaint Review: WTS Investments - World Trade Systems - Ashmore, Queensland
- WTS Investments - World Trade Systems Suite 4 115 Currumburra Road Ashmore,, Queensland Australia
- Phone: 130-0 661 224
- Category: Financial Services
WTS Investments - World Trade Systems Ponzi Scheme, I was given a 'gift investment'. The person who gave it to me reports WTS is conducting illegal activities Ashmore, Queensland Australia
*Author of original report: WTS Investments - World Trade Systems Ponzi Scheme, I was given a 'gift investment'. The person who gave it to me reports WTS is conducting illegal activities Ashmore, Queensland Australia
*UPDATE Employee: family trust
The website is still live, and the charade continues. Please be assured it it BOGUS.
A very close relative of mine worked for the company for a period of time, after being convinced of its authenticity and believing it would free them from debt. The last time this person had contact with Alan Davenport who runs the scheme was when the door was slammed in the faces of a number of investors who were FINALLY asking for some legitimate paperwork.
Please note - this was a couple of weeks ago, and at the time Alan Davenport was claiming that the IMF and Westpac were not transferring money to Australia from overseas, but that it would be coming soon. Calls to the IMF quickly dispelled the myth that they have anything to do with blocking transactions from overseas, and Westpac have no knowledge of these transactions.
I suggest that anyone involved make a couple of quick calls, and look into Ponzi schemes - that is what this is (try Google).
At least take the recommended precautions - ask for betting slips etc. The company has an ACN - 131 958 864, but according to information I have gleamed this is no guarantee of authenticity, and ASIC do not police things like this.
They also have an additonal website: www.suretrading.com.au if that is of any help to anyone.
Please believe what you read about the proliferation of scams on the Gold Coast, Queensland - they seem to be accurate.
I have no financial interest in this company (besides the $50,000 + it claims to be holding for me), but hope that this information will help people who may be thinking of 'investing' in this scheme.
This report was posted on Ripoff Report on 10/08/2008 01:28 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wts-investments-world-trade-systems/ashmore-queensland-4215/wts-investments-world-trade-systems-ponzi-scheme-i-was-given-a-gift-investment-the-p-379229. 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
If you would like to see more Rip-off Reports on this company/individual, search here:
Advertisers above have met our
strict standards for business conduct.