SP Trader - Huge returns...anyone invested with them

Discussion in 'Index Futures' started by Preston Forbes, Feb 7, 2007.


  1. Where did you get your information ?
     
    #51     Sep 21, 2009
  2. Stung

    Stung

    A group of investors and I called people in Switzerland, BVI, Austria... It has taken a long time to chase down illusive information, however, after communicating with the investors mentioned above the FBI was convinced enough to investigate fraud working with other international organizations. It was alot of work and crazy calls early in the morning, hiring of translators, etc.

    Did you invest with them?
     
    #52     Sep 21, 2009
  3. mingxuan

    mingxuan

    Please keep us updated with the investigation. Thanks!

     
    #53     Sep 23, 2009
  4. Stung

    Stung

    If you want to send me your email I will put you on my distribution list.
     
    #54     Oct 14, 2009
  5. so little time ... so many scumbags
     
    #55     Oct 14, 2009
  6. mso58

    mso58

    For Those Interested,

    I was burned by SP Trader and am quite embarrassed about the whole thing. My initial investment was large by a lot of people's standards, perhaps not the people here, but for a lot. Let's put it this way, I ended up getting about 63 percent of what I put in back because I required immediate monthly payouts and SP Trader complied. I guess the thing that surprised me was when I heard from others that they had invested their money through Schwab into SP Trader. Was Schwab also duped by Roberts? Perhaps there were others as well. I found another Canadian firm that may have been funneling money into SP Trader. Check this one out:

    http://www.activetrader-links.com/B...Investing/Strocks_Hedge_Funds/27164-1940.html

    Then, click on the link that appears after the spiel on SP Trade Investments which is:

    http://www.sprottassetmanagement.com/

    So, was this firm also taking its investors' money and sending it over to SP Trader? Perhaps I was no more ignorant than some of the so called "Big Boys" out there?

    The investment was made to support my mother in privately run assisted living in her last years as she suffers from Alzheimer's. I made a stupid big leap and well, I squandered whatever amount of my inheritance would have been left. There were a lot of factors which made me take such a chance. I was trying to make the money last long enough to pay out $8,000 per month resident costs.

    As it stands, I wish I would have just traded the money myself. With just a bit better risk management skills, I could have traded the 6 figures in probably a manner that would have done me a lot better than having those scumbags of Roberts, Weiss, Emery, and Nichols fleece me and my mother for the amount of equity that they did. Live and learn. Life is so short. Instead, at 51, I'm starting all over with nothing. The next issue is to get all the money paid out in taxes back. There may be some consolation in that.

    The way I understand it, these types of scams are rampant. I just want the 4 named men above to be caught and I would like to see them put away in the toughest jail that could be found for them. Hopefully there's a jurisdiction that they can be tried in where the prisons are filled with the type of people that would eat these white collar crime pussies for lunch. Thankfully, I'm a big believer of what comes around goes around and know that all liars and thieves and murderers, etc. always get what's coming to them. It may take time, even the grave, but sooner or later they will be treated in the same manner they treated others. It just hurts to have been burned so badly and for me to have made such a bad mistake with the savings my mother worked so hard for. It's a a very difficult load to bear. Only the fact that nearly all the other advice I have given Mom has been right but I made a big boo on this one. But really, when money can be created out of thin air at the stroke of a book or data entry, what can one expect? When house values rise at rates 2 and 3 times the rates being charged for interest on mortgages, scams will be rampant to swindle people out of the "easy" money they made in their homes by just being in the right place at the right time.

    I think I'm going to become a farmer, become self sufficient and content with that. At the present rate of mineral loss occurring in our foods, the latter may become the most valuable commodity one can buy in the future. The only problem is that I'll need an army to protect me from the people starving and since the army will be starving as well, they'll simply kill me and plunder the spoils. Ponzi schemes, savings and loan debacles, the latest Wall Street collapse, the 9/11 lie, and on and on and on, everyone seems to be duped by something or someone out there.

    Oh yes, if you didn't figure it out yet, take my advice:

    DON'T INVEST IN SP TRADER!!!

    Michael
     
    #56     Jan 17, 2010
  7. It would be shocking to me if Eric Sprott had actually vouched for/invested in this scam. My guess is that the www.activetrader-links.com link is a fraudulent name-drop of Sprott, without Sprott's knowledge or consent, that the SP Trader ponzi people set up in order to appear legit.
     
    #57     Jan 18, 2010
  8. If this is true, you need to report them to the NFA. They would shut them down immediately and you could possibly get your money back. The fact that they have been around as long as they have makes me think that they aren't ripping people off.

    5yr


     
    #58     Jan 18, 2010
  9. SP Trader is a Huge Scam! There is no physical address. The phone number is always a recording stating nothing. I have never gotten anyone to return a call. I have been trying to get my redemption going on 2 years. This has been the biggest run around I have ever seen. A friend of mine supposedly knows Mark Roberts, but I heard he does not exist. Very frustrating!
     
    #59     Mar 29, 2010
  10. This thread is a perfect example of why Elite Trader is not a 'senseless, useless and distracting waste of time' as I've heard countless people grumble over the years (often as part of their final "I'm leaving ET for good" post, routinely followed a few weeks later by their resurfacing here under a new username.)

    Three years ago, ET was the <b>only</b> place on the net providing a potentially ass-saving warning about this scheme. That's got to be worth something.
     
    #60     Mar 29, 2010