- Report: #379229
Complaint Review: WTS Investments - World Trade Systems - Ashmore, Queensland
-
Author Confirmed
Why?
WTS Investments - World Trade Systems
Suite 4 115 Currumburra Road Ashmore,, 4215 Queensland, Australia
Phone:
130-0 661 224
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
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
I was given a 'gift investment' from a relative for this scheme. I assumed that it was probably a scam and found no hard evidence that it was legitimate besides glossy brochures (badly printed), and a website http://wtsmembers.com that claims to show games that are being played, and arbitrage 'investments' coming in. I had invested no money, so decided to look into it as best I could, and take no action until I could prove it was legitimate. Unfortunately information on the web regarding WTS is sparse, I'm hoping this will help to rectify that.
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.
Troy
Sydney
Australia
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.
Troy
Sydney
Australia
2 Updates & Rebuttals
Anonymous
Sydney,Australia,
Australia
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
#2Author of original report
Sat, November 08, 2008
I was given a 'gift investment' from a relative for this scheme. I assumed that it was probably a scam and found no hard evidence that it was legitimate besides glossy brochures (badly printed), and a website http://wtsmembers.com that claims to show games that are being played, and arbitrage 'investments' coming in. I had invested no money, so decided to look into it as best I could, and take no action until I could prove it was legitimate. Unfortunately information on the web regarding WTS is sparse, I'm hoping this will help to rectify that. 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 they and others queried company paperwork and the door was subsequently slammed in their face. Please note - this was a number 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.
Anonymous
Helensvale,Australia,
Australia
family trust
#3UPDATE Employee
Fri, November 07, 2008
Thanks Troy, It would have been nice if you had discussed this post with me before lodging it or even told me that you put it on after it was posted, instead of me finding it myself, by accident .....it would be nice if you called me on the phone and explained why you did it?...
