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International Prosperity Group 'Autotrader'

Discussion in 'General Investing Discussion' started by hutch27, 19th Mar, 2010.

  1. hutch27

    hutch27 Member

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    24th Nov, 2007
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    Location:
    Jerrabomberra,NSW
    Has anyone had any dealings with this group? They are flogging index trading software with some big ideals.
    Thanks

    Tim
     
  2. ScamWatchAu

    ScamWatchAu Member

    Joined:
    8th Jun, 2010
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    Location:
    Sunshine Coast
    Prosperity Group International

    Hi Tim,

    We have thoroughly researched Prosperity Group International and their products and have found them to be totally above board. They are definitely not scammers as we found their Index Trading products were developed with the aid of an Australian Federal Government Commercialising Emerging Technologies (COMET) Grant. This type of grant is only given to legitimate Australian companies. We hope this has been helpful. Best Regards from the ScamWatchAu team. :)
     
  3. Johny_come_lately

    Johny_come_lately Well-Known Member

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    703
    Location:
    SE Queensland
    Hi Scamwatch,
    You might like to introduce yourself and let us know a little of what you do.:p




    Johny.
     
  4. Vagon

    Vagon Well-Known Member

    Joined:
    31st Mar, 2010
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    56
    Location:
    Sydney
    Scam

    My scam sense is tingling:

    -Claims like "Imagine receiving 70 percent monthly return" and "tax free returns" are ridiculous.
    - The online info about this place is self published articles on crappy e-marketing sites.
    -ScamWatchAu just randomly pops up to say hi after you post for one post only.

    Caveat emptor.
     
    Last edited by a moderator: 9th Jun, 2010
  5. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
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    1,172
    Scamwatch homepage

    SCAMwatch home

    The above link is the actual scamwatch page maintained by the ACCC.

    ScamWatchAU - if you're from the ACCC please advise everyone. Otherwise we'll contact the ACCC and find out.
     
  6. Innuce

    Innuce New Member

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    Earth
    One post... 100% Thumbs up!!

    You decide :rolleyes:
     
  7. ScamWatchAu

    ScamWatchAu Member

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    Location:
    Sunshine Coast
    Prosperity Group International

    Hi guys,

    In answer to your questions...NO we're not from the ACCC, and we never pretended to be. After having been scammed by several horse racing companies over the years we have become aware of other scammers out there as well, like arbitrage, property investment, share trading etc etc etc. As we have lost literally tens of thousands of dollars ourselves, and watched many of our friends do the same, we are making it our mission to investigate suspect Australian scammers. We are fully aware that none of you know us, just as we don't know any of you. We are simply taking the opportunity of Free Speech to make people aware of what may be harmful to their finances and what may not. The only information we publish is what we have researched, if we haven't researched it then it will NOT appear. We have had about 15 years of experience with the scammers out there, so I guess you could say we know what we're talking about. Best Regards, from ScamWatchAu.
     
  8. Waimate01

    Waimate01 Well-Known Member

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    Location:
    Sydney
    The hairs on the back of our neck always twitch when we hear someone refer to themselves in the plural.

    But that's just us.
     
  9. ScamWatchAu

    ScamWatchAu Member

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    Location:
    Sunshine Coast

    Waimate01... "that's just us"?? isn't that plural...LOL!!

    I'm referring to myself and my husband when I say "we". :p
     
  10. Vagon

    Vagon Well-Known Member

    Joined:
    31st Mar, 2010
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    Location:
    Sydney
    From the actual ScamWatch Site:

    Share promotions & 'hot tips'

    Now if we look at PGI's website:

    (im not gonna back-link them but its their website followed by "/beginners-platform")

     
  11. Tropo

    Tropo Well-Known Member

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    Location:
    NSW
    "Quote:
    Imagine receiving 70 percent monthly return on investment and not having to do any work for it! Sounds great, doesn’t it? Get involved today and see the results for yourself."


    Amazing....hahahahahaaa......:rolleyes::rolleyes:
     
  12. Vagon

    Vagon Well-Known Member

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    Location:
    Sydney
    Well it's Friday afternoon and I had some time on my hands. I wonder what "thorough" investigation techniques ScamWatchAU used in assuring us Prosperity Group International Pty Ltd (PGI) and their Autotrader software wasn't a scam?

    Let's have a little look at PGI and their claims...

    Automated trading
    Yes, apparently this company can make returns of 70%, unlike any other business in Australia! What's that you say Year on Year? Nope - Month on Month!

    Tax Free Returns
    -Because you're betting on markets you don't have to pay tax! Guess what else? PGI don't have to have a AFSL so there's no oversight or compliance! Actually considering the 30% margin on your profits plus the $40 a month service fee, maybe you'd want them to be taxed so you could at least claim expenses.

    COMET grant
    By now you've heard how the Commercialising Emerging Technologies (COMET) has thrust legitimacy on this product. But this grant was given to "Insider News Pty Ltd" a company based in SA, who don't mention PGI the Queensland company who apparently have "secured worldwide distribution rights".

    But wait there's more!

    Looking at Insider News Pty Ltd's registrant contact email address you see tony_rotondo@hotmail.com. When I search this name I get a couple of results, but I'm betting (pun intended) this isn't the dentist, but rather the Tony Rotondo whose use of copryright infringing horse racing software BettorData landed him with a $760,000 fine. Tony's partner in the BettorData fiasco is Dominic Dibiani who was convicted for a Mobile phone spamming and betting scam.

    This raises questions about why the government is funding dodgy business practices, but luckily my previous worries about Insider and PGI being unconnected was allayed: guess where Tony lives? The Gold Coast.
     

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  13. Waimate01

    Waimate01 Well-Known Member

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    Yes, how about that. Simply amazing. Well spotted indeed. You are a sharp tack, there's no doubt about that. I think I will now hand all my money over to Prosperity Group International on the strength of your recommendation. The cheque's in the mail. You keep an eye out for it.
     
  14. antodinata

    antodinata New Member

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    sydney, nsw
    They are definitely Scammer

    I have experienced with them (well their supposedly affiliate company Worldnet Corporation). The history: I joined up back then with Worldnet Corporation (same people as PGI but different name). Was told to transfer money to their trust account and Jonathan (PGI's director - ASICS told me) actually email me (have a copy of that email) and told me the money I put into that account for trading doesn't belong to the company because it is held in a trust account. Everything was fine, receiving updates through emails (one of the email coming from PGI though, that's why I know they are one and the same). One day they claim because of legislation changes the investment scheme is facing technical difficulties but to show that they are committed the account is tranferred to their affiliate company and that company is, yes you guess it, Prosperity Group International. They then try to get me to join their trader program. I receive an email from Robin Panozzo that I have around $3800 in my account and if join their trader program I don't have to pay anything but I'll be left with $200 in my account. I refuse to join and now can't contact them. Everytime you call, the receiption will pretend to find Rob for me but he is always unavailable and will call back, but guess what, didn't hear anything from them. Ask for Jonatahn and told he is working from home but they refuse to give you his direct number. So you decide whether they are scammer or not.
     
  15. redly

    redly New Member

    Joined:
    10th May, 2011
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    Location:
    Mackay
    HI I too have fallen "victim" to WORLDNET CORPORATION INTERNATIONAL PTY LTD.
    Exactly the same story happened to me...
    Did you ever chase them up ? If so what happened did you recieve your money?
    I am thinking of lodging a complaint with ASIC as I have not hers from WORLDNET CORPORATION INTERNATIONAL PTY LTD since thier last email in april 2010.
    I hope you can get back to me and let me know please?
    Greg.
     
  16. antodinata

    antodinata New Member

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    Location:
    sydney, nsw
    They actually called me after I post my experience here and at ozripoff site. They said they will give me my money if I write something good about them and remove my post here and at ozripoff site. They actually told me what to write but I can't write anything good about them as they aren't true. So at the end, I didn't get my money. I have reported them to ASICS, Fair Trading and even the police but they basically told me nothing can be done. Sorry, not much help here.

    Antony
     
  17. redly

    redly New Member

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    10th May, 2011
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    Location:
    Mackay
    Ok thanks for the reply..I am only a single disabled dad (they knew this from the start as I made it clear to them) and wont rest until I get my money as its mine not thiers at all. I have every email they ever sent me and all the paperwork to back me up.
    I wonder if A CURRENT AFFIAR would do a story on them as its right up thier alley chasing down rippoffs of the disabled.
    I think this needs its own thread on here as well..thanks for ya help but I cannot afford to lose this money as its needed badly.
    Greg