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  • Report:  #172110

Complaint Review: George Fontanills - Optionetics - Redwood City California

Reported By:
- NEW YORK, New York,
Submitted:
Updated:

George Fontanills - Optionetics
255 Shoreline Drive, Suite 100 Redwood City, 94065 California, U.S.A.
Phone:
650-802-0700
Web:
N/A
Categories:
Tell us has your experience with this business or person been good? What's this?
Back in the mid 1990's Fontanills had partnered with an individual by the name of Brian McCahrey on the floor of the AMEX trading monies they received from investors.(I happen to know one of the investors) The reason Fontanills does not advertise this is because he and Mr. McCahrey were ousted out of the exchange. Turns out Mr. McCahrey had embezzled several million from their clients and was sent to Club Fed for a few years. Mr. Fontanills got off because he pulled a Sergeant Schultz (I see nothing, I hear nothing, I know nothing). Even if that was the situation it was very irresponsible for Mr. Fontanills to take monies from investors and leave it in the hands of someone like Mr. McCahrey and not keep track of where the money was flowing into (which in this case was Mr. McCahrey's pockets). Fontanills should have been more active in keeping an eye on the accounts which he obviously wasn't. How can he call himself a trading guru when it was Mr. McCahrey who was handling the trading accounts? Consequently, they filed for bankruptcy and many of their clients never saw any of the monies that were entrusted into their hands. I wonder if any of them ever made their money back with the Optionetics' trading method?

Many of Fontanills' shills claim he makes a lot of money; however, they fail to mention how much he has lost for his clients and himself. Point in fact; it turns out to be millions.

If anyone is interested in taking his seminars good luck!!! This guy is only a guru of the seminar circuit. His Optionetics infomercials are not to far off from Tom Vu (for those of you who don't know who Tom Vu is, he's a real estate seminar guru who ended up going to jail for fraud) the only difference is that Fontanills can't get any of the babes in bikini's to stand next to him.

By the way, by whose standard is this guy rated a Guru? When I read on the Optionetics advertisements that Fontanills is revered across the nation, and around the world, as a leading authority in high profit, risk controlled investing I almost fell off my seat in laughter. Most people haven't even heard of him. He must be famous in his own mind. Who writes this crap? It must be the same morons who wrote for Tom Vu's advertisements. I know of individuals that lost all their money trading options and these were experienced traders who held seats at the exchanges in New York. If he is such an authority wouldn't you think that he would have controlled his risk with Brian McCahrey and the brokerage firms that have sued him and won? So much for being an authority on risk control and high profit. The only profit he makes is from suckers who buy into his courses. As Jim Cramer states in his latest book Real Money the types of guys in Fontanills' business are all charlatans. At least we know that Jim Cramer has in fact made himself and his clients very wealthy. We see results and actual reports with Mr. Cramer. All we get from Optionetics are claims which have never been substantiated. In fact if you read their disclaimers (which are in very small print) they actually state that these testimonies (which are probably made by friends, relatives, and business associates) have not been verified. These disclaimers are what keep them from getting sued and put out of business by the CFTC and FTC. Unfortunately, the government, allows them to lie to you and there is nothing you can do about it because of these disclaimers. If you want to build wealth follow reputable people, not so called guru's that make unsubstantiated claims. As you can see by all the negative entries (as the positive ones have never been validated) that there is no such thing as high-profit, low risk trading. If anyone believes that then you might as well believe the World is flat.

John

NEW YORK, New York
U.S.A.


2 Updates & Rebuttals

Shatto

Concord,
California,
U.S.A.
Optionetics - Is it a Ripoff?

#2Consumer Comment

Sun, December 21, 2008

'John' wrote a complaint about Optionetics, it's founders; George Fontanills, Tom Gentile and others, I'm sure. A short story follows, to make a point to 'John' and all the rest of us, about any business opportunity. A friend, known worldwide in his field as; 'Mac' was asked to evaluate a Multi-Level Marketing business by his son, a number of years back. Mac had the initial response most of us have; to tell his son this was junk, a rip-off, it wouldn't work and so-on. But, Mac was asked to evaluate the opportunity not give an opinion, so that is what he did. He gave the information kit to the most analytical man he knew, his dad, to look over and check out. Mac's dad told him that; if he did what he was told to do, it would do what they said it would do. So Mac set out to prove if the business would or would not work by following the directions. He didn't do anything but what he was told to do. No analyzing. No secong guessing. No modifying the program. Today Mac has a very large and successful business and as a result lives a very good lifestyle, indeed. So does his son. If any of you 'John's' question the validity of any business; the mature and professional thing to do is honestly investigate and test it. Go ahead. Follow the directions. Do everything they say to do. If you honestly 'follow instructions' and the business fails to work, but not because you didn't try to make it work, then and only then will you have the right to make any comment of any kind. If you fail miserably and the business succeeds.........enjoy the money. By the way; *My MLM business sends me checks when I generate enough product flow to earn them, a few times a year......just as advertised. *Using what I learned from Optionetics, here is where I stand as President Elect Obama polishes his Inauguration Speech: I lost on more trades than I won. I was successful only around 40 percent of the time, but I still made money........just as advertised.


George

Miami,
Florida,
U.S.A.
Untrue and Defamatory Statements

#3REBUTTAL Individual responds

Sat, January 21, 2006

The original post has a only a grain of truth, which is that from 1993-1995 I had a business partner called Brian McCahery and had a floor operation on the AMEX. The truth regarding Mr. McCahery is that: In 1995 I discovered and personally reported to NY Attorney General a fraud committed by my then business partner Brian McCahery. Brian had raised and handled one large investment account. Deceitfully, without anyones knowledge he had also raised and hid additional money from other investors to hide his trading losses. I was concentrating on developing systems and trading my own account. I was totally unaware of his actions which he elaborately and fraudulently hid. As soon as I discovered the fraud I banned McCahery from the office and voluntarily stopped trading on the AMEX. We were not "ousted". In fact quite the reverse the AMEX came under critisism for their lack of controls on McCahery. Independant verfication - search on McCahery and Amex on google for those facts. SIPC insurance repaid all but two of the third party investors in full and the liquidation of the accounts added additional funds to repay the investors. This matter was investigated fully by New York Attorney General, SEC and other agencies. I was fully exonerated of any wrongdoing. It is completely nave to think that I could have raised any defense other than the truth to avoid prosecution. This was McCahery's fraud not mine. Independant verification - search on McCahery on google for those facts. I personally lost millions of dollars to McCahery's fraudulent actions. I wound up the companies to repay the investors as co-mingled funds and the complexity of McCaherys fraud made it impossible to continue business. I was delighted when McCahery was put in jail as it was where he rightfully deserved to be for what he did to me and others. I don't hide the fact nor am I proud of my association with McCahery. I admit I made a huge mistake in choosing him for a business partner. Optionetics is the premier educational business for options education. We are responsible in our claims, use genuine testimonials and offer money back guarantees. We don't use friends, relatives etc. with our testimonials but instead can draw from voluntary submissions from happy customers. It is easy to hide behind these boards and make untrue statements. I don't. Why don't you call me I would be happy to personally verify to you Optionetics claims, my expertise and show you the standard of our education. Independant verification - Optionetics has been written about in the Wall Street Journal, Business Week recently did a long article about us, Reuters, BBC, Barrons, CNBC, Fox etc. cover our work regularly. The only thing you this poster does is to post under a variety of aliases in an attempt to slur my name and discredit the work that we do. If you genuinely know an investor of McCahery's (which I doubt) they would verify that they never met me prior to the discovery of the fraud and were sworn to secrecy by McCahery in his cover-up. That they in fact were the cause of their own loss. So the truth about these posts about me ... is that they are all posted by the same person using aliases. Trying to discredit my life's work with the sickness of not being able to get on with their own life after we divorced. But, if I am wrong and you are a real person don't delay, call me today. You can find the number on our website. You won't call as you dont exist. This site is fantastic as it allows the consumer to vent but the disadvantage is that anyone can make any defamatory statement without any penalty or having to answer to the law. George Fontanills

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