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Standford & Associates Arbitrage

Posted by Aegist on February 8th, 2008

Another Arbitrage investment scheme called Standford and Associates has been just brought to my attention (another one! in less than a week! surprise surprise…) following much of the same pattern as all of the rest of the arbitrage investment schemes I have come across. It promises 5% per week returns for Silver members, 10% for Gold and ‘as much as possible’ for Platinum members. Admittedly it doesn’t promise compounded returns (which is at least semi realistic), but nonetheless any sort of return of 5% ‘without risk’ every week, is still a pretty extreme claim.

Their website is highly ‘average’, and their last monthly results was from September 2007…so either they delay their past results, or this is already old news. Either way, I will post this here in case they are still contacting people and people are still looking for information on them.

As usual, I don’t have any specific information on them, but the same advice as usual applies - If a company can make 5% return a week on a sum of money - Why on EARTH would they be asking other people for money? Seriously. And if for some reason that alone isn’t enough reason to make you think twice before ‘investing’ with them, please read through this category here, and through the various threads in arbforum here.

One more thing, if you know of any other arbitrage based investment schemes, please leave a comment, post in our forums, arbforum forums, or simply email me and I will write a post on it also. Thanks!

2 Comments »

Comment by pwlowry@optusnet.com.au

I think some of the comments so far about Standford & Associates may be right but I don’t have positive proof. I have had dealings with them and was put on a trial trading scheme for two weeks with $1,000 to trade on the Platinum Level(15%).I did get my money back with the dividend of $404 - 10% but I convinced them to put the money back in my account before I would trade
on the Gold Level($6000 fee) which would earn 10% per week on a start up capital (min $500) - Mine was to be $6000. I just happened to stumble ’serendipidously’ on your Hyperlink! Here ends this little venture into quick money - Phil

Posted on May 9, 2008 at 5:11 am

Comment by Designer

I fell for all Standford and Associates / Brian Kelly’s tricks tricks.

I opened a platinum account which cost $9,000 joining fee and with a $10,000 trading account.
Returns for the first month (Dec 2007) were $2,700 profit which was paid into my account. They then rang myself and another friend that has an account with them and told us that they were stopping opening any new accounts as they had too many clients and wanted to concentrate on servicing their existing clients. I then stupidly took out a loan for 2 more platinum accounts before they ’stopped’ taking any new accounts. So I have $57,000 tied up with the company. Their customer service person ‘Nancy’ sent out quarterly account statements (Jan-March 2008) saying that we had earnt $2,700 per account. This was 4 months ago and I have not received the money.

And so begins my worst nightmare…
Suddenly their phone number (1300 762 286) was only ever answered by a recorded message and none of the messages I left were ever returned. Their phone is now answered by a message service and as expected my calls are never returned. Brian Kelly hasn’t answered his phone since I handed over my money and he doesn’t return any calls. I have since been able to get the numbers of 2 people in sales and after explaining my situation and pleading my case to them they promised to look into it with Brian and now they don’t answer or return my calls.

I have text messaged Brian Kelly about my situation. Letting him know that this has caused untold anguish with my family and I’m about to lose my house because I can’t afford the repayments on the extra loan I took out. He has text me back once saying that I will get the money (stringing me along) so he knows exactly what is going on.

I have posted my story on theripoffreport.com
http://ripoffreport.com/reports/0/347/RipOff0347024.htm
:

Stupidly or not, I posted my mobile number here and have since received calls from other victims of Standford and Associates / Brian Kelly from all over Australia.
The line is always the same. These people ring up and say ‘I think I’ve been burnt by Standford as well’ no one is quite sure whether they have lost their money because Standford and Brian Kelly just stop answering calls and totally cut you off. You live in hope that Nancy Edmunds (the customer service woman) will call you to tell you that they are transferring the latest returns into your bank account. It won’t happen, you have handed over your money and you are of no use to them now.
-CD

Posted on November 18, 2008 at 8:32 am

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