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  • Report:  #652126

Complaint Review: ButtonwoodLLC - San Jose Internet

Reported By:
Compassion4All - , Alberta, Canada
Submitted:
Updated:

ButtonwoodLLC
panama city San Jose, Internet, United States of America
Phone:
1-888-848-0660
Web:
www.buttonwoodllc.com
Tell us has your experience with this business or person been good? What's this?
AKA Intercontinental Trading Group, Hartford Capital Management, Lexington Trade, Wellington Asset management This is an elaborate scam that looks almost legitimate except for the series of unfortunate incidents that lose all of your money invested. Joe Arano uses telemarketing to contact potential investors. The pitch is to invest in lucrative commodities option contracts and the gains will be tax free because they are in Panama. You are asked to fill out broker agreements that look familiar and wire money to their HSBC account in Panama. Ther is no registered business in Panama according to the Panama trade commision. They create a bogus account for you on their website www.buttonwoodllc.com so it looks like you are buying heating oil option contracts, that are never actually purchased for you. The recommendations to buy these unrealizable contracts are supposed to be sold at the highest price but unfortunately you are advised to wait until the options become worthless or expire. The account adviser leads you to believe that you can regain your loss if you invest more money and extend the option contracts,  milking you for more money. All of your money will be lost and it is all under the guise that you made a bad investment and you signed agreements that you knew of the risks. Only problem is they never actually purchase your options they just post it to your account and say they did. This company name is not registered to trade anywhere. This group has been doing this for over 5 years they were reported by Canadian regulators in 2006 and were exposed in a CBC article Intercontinental Trading Group.  They are currently banned from soliciting business in New Brunswick and Saskatchewan, however this has not deterred them. They just change the names and carry on. They have been reported to the authorities, unfortunately there is little recourse to recover any money. People in Costa Rica have confirmed association with Wellington Asset Management a real estate investment scam located in San Jose, Costa Rica. DO NOT Invest any money with offshore investment firms they are Scams that prey on your greed.


5 Updates & Rebuttals

John

United States of America
Updates

#2UPDATE Employee

Mon, November 01, 2010

We here at Lexington Trade have represented ourselves and our business practices in a transparently clear manner in regards to this matter.

Therefore, if there is to be any further discussion on this matter, we believe the only remaining option would be to take this matter into a public court room.

We would be delighted to settle this matter in its entirety. All that is needed is the proper information to be provided by the author of these statements who publicly claims the post.

Until then any additional time spent is a waste.


Going Forward

Atalanta,
Georgia,
United States of America
GlassHalfFull

#3Consumer Comment

Sun, October 31, 2010

I am a land owner in a Wellington Asset Management project. I have received title, been to my property several times and have seen all the progress that has been made for me and and other investors to build our homes in the very near future. I do not believe that these claims of a scam and of association with Lexington Trade, Hartford are true at all. My experience with Wellington Asset Management over the last 2 1/2 has been enjoyable, professional and a I am very comfortable having Wellington as my "partner" in my investment. I have never heard of Lexington Trade and these other companies that this complaint is mentioning but I know that Wellington Asset Management had delivered in all aspects.


Owner

Boca Raton, Florida,
Florida,
United States of America
Land Owner Not Related

#4Consumer Comment

Sun, October 31, 2010

After reading this complaint, I do not believe Lexington Trade or any of the other listed companies are related to Wellington Asset Management at all. I am a land owner with Wellington Asset Management and also know and have spoken to other land owners with Wellington and they agree that there is no relationship with Lexington Trade or these other companies. Wellington deliever professionally everthing that I was sold on and I have received my title for my property which I plan to build my vacation home on within the next 12 months.


John

United States of America
Updates

#5UPDATE Employee

Mon, October 25, 2010

We here at Lexington have meticulously scrutinized this matter and have discovered some important points that we feel need to be brought to attention.

In regards to this matter, it is obvious that the author has previous issues with different companies and is now using the fraudulent slandering of anyone as a means to vent frustration from past experiences. However, this person who was contacted was never taken through any of the procedures required by Lexington and is NOT  a client. A  new employee who has just started with the company and does not yet have any clients is the person mentioned in his rant. Ironically, we have also uncovered that a different post, unrelated to Lexington Trade, published in July of this year by the same author contains the same wording as the newly issued posts about Lexington.

The newly issued posts about Lexington are clearly a copied and pasted version of these original posts which were in no way whatsoever related to Lexington.

(See links below).

Links to Examples of Copy-Paste Posts:

Posts Unrelated to Lexington (July 2010)

(((Redacted)))

http://www.ripoffreport.com/investment-brokers/trading-itg/trading-itg-mytradingitg-inte-9b7f4.htm


Posts About Lexington (Oct. 2010)

(((Redacted)))

http://www.ripoffreport.com/brokerage-companies-on-line/buttonwoodllc/buttonwoodllc-lexingtontrade-c-b946d.htm


Also, there are more links to more examples of these copy-pasted posts.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.


John

United States of America
www.lexingtontrade.com, www.lexingtonclearing.com ,lexingtontrade.com ,lexingtonclearing.com, NO SCAM, FALSE ACCUSATIONS, panama, investment

#6UPDATE Employee

Fri, October 22, 2010

www.lexingtontrade.com, www.lexingtonclearing.com ,lexingtontrade.com ,lexingtonclearing.com, NO SCAM, FALSE ACCUSATIONS, panama, investment,www.lexingtontrade.com, www.lexingtonclearing.com ,lexingtontrade.com ,lexingtonclearing.com, NO SCAM, FALSE ACCUSATIONS, panama, investment

Lexington is a licensed Clearing Firm (as posted on its site www.lexingtonclearing.com ) in Panama that has many happy and satisfied clients as well as disappointed investors who lost money, which is inevitable in any investment arena. The arrival of these fraudulent, defamatory remarks are undoubtedly the mischievous tactics of some jealous, inadequate competitor who finds these kind of actions as their only avenue of active competition against us; as we do tend to excel in our line of work.

Lexington Trade (www.lexingtontrade.com) is a staunch promoter of lawful and legal business transactions and supports the full prosecution of any scam behavior to the utmost extent.

Consequently, legal action has been taken in response to these false allegations and active measures are being enacted to discover the original author of these statements. Upon discovery of the author, we will use every avenue available to us to prosecute to the fullest extent of the law.

We here at Lexington Trade strongly insist that anyone posting information in regards to our company and business procedures only post TRUTHFUL information whether the information is negative or positive, because no investment is a SURE investment. There is always risk and there will always be losses just as there will always be gains.

However, Lexington Trade prides itself in operating under the full restraint and observation of the law, retaining and maintaining a clean record in every respect. Any further fraudulent posting will be actively responded to as well, in regards to rebuttal but more in terms of legal action. Lexington Trade will not tolerate the slandering of it's name and reputation by these false accusations.

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