Complaint Review: Sports Arbitrage Investor

Please find below a pasted copy of the email I sent to this company. As you will see, the questions I asked were normal, legitimate questions anyone would ask when coming across the claim of a company willing to pay 5% per day. However, Mr. Williams apparently didn't think it was worth a response, even though I really was prepared to give this company thousands of dollars.

When I went back to look atht the site again a couple of days later (today), I found that his website home page has been down for more than 12 hours, even though the rest of the pages were still working when accessed directly. This made me suspicious enough to search for his name on Google, where I came across this previous post on this website from the man from Tennessee.

Thank you, ripoffreport, for being here and saving me from getting ripped off!

Regards,

Rick (here is the email I sent, below:)

Dear Mr. Paul J. Williams:

As you can see from the email below, I wrote you a few days ago to ask you some questions that seem like pretty normal questions to me. I even told you that I am ready to open an account under the right set up circumstances. However, for some reason you are not answering your email.

Additionally, now it seems that your home page is no longer online, although the rest of your site is still up of the URL to those other pages are directly typed into the computer. Since this all seemed like strange behavior for someone who purportedly wanted money from me, I did a Google search on you, personally, and came up with this result:

ripoffreport.com/reports/ripoff184766.htm

According to this submission, you took money from someone in Tennessee under the pretenses advertised and didn't bother to follow through with what your site says you will do. Is this true? Are you ever going to answer my emails, or the emails of the guy you allegedly ripped off? I don't know you at all, but what I am seeing so far is not real impressive. Please respond and let me know what is going on here. If this is nothing more than a scam, please have the character to just say so, and you'll never hear from me again. However, if this is legitimate, then I have to say that so far you are handling yourself in a very unprofessional manner. I suppose it's a good thing that you are not the only one involved in arbitrage listed on Google. Oh, well. NEXT!

From: Rick
Sent: Wednesday, April 12, 2006 1:02 PM
To: 'admin@sportsarbitrageinvestor.com'
Subject: Investor Questions

Dear Sir:

I am new to arbitrage, as I only heard of it through a friend a couple of days ago. From the way it was described, I am amazed that more people don't know about this if it's supposedly such a sure thing. If you will indulge me, I have a couple of questions I did not see on your website:

Is it possible to lose money instead of earning the 5% you promise? If so, how is that possible?

If it's not possible to lose money, how is that possible? I mean, it IS based on gambling, right?

If it's not possible to lose money, why hasn't the world financial market jumped on board, totally redifining the way the world does business?

Regarding the account you describe, is that an account that your company keeps for me, or are you merely referring to my E-Gold account? Also, is there a way to access and/or monitor the progress online through a website somehow on a real-time, daily basis?

If I am some how ripped of in this process, how do I legally protect myself since I am not an English citizen in the (hopefully) unlikely event that you don't do what you say you will do? (I am an American who currently resides in the Philippines.)

If you can answer these questions to my satisfaction, I will be happy to open an account immediately with your firm to see how this goes.

Thanks in advance for taking the time to answer these questions questions that I am sure you probably answer all the time. I look forward to a long and prosperous future together.

Rick
Austin, Texas
U.S.A.