Complaint / review text:
These guys are consummate pros with many years of experience at gaining confidence. We went into it with good faith and there is a certain amount of trust in everything we all do - whether it is opening a bank account or buying a house. When that trust is betrayed as they (Newman/Gruntz) do it, they try to make you into a betrayer, accusing you of bad faith.
The reality is that we NOW KNOW that Gruntz is a criminal who has done hard time in LA County's penal system, with a record of assault, bankruptcy, fraud and breach of trust going back some 20 years. He operates under the radar, hiding income, lying to the IRS and the state of California, cheating by taking illegal commissions for trading, and employing people to do his bidding by paying under the table, outside the system. Gruntz is aided and abetted by Newman, who charms them as their friends, while betraying their every word to Gruntz, giving heads ups when people are about to "bail". Steven Newman is a Judas-type character who enables Gruntz to keep trust long enough to talk clients into purchasing property that Gruntz takes absolute control of.
Once the inevitable breach of trust occurs, Newman then begins a discredit campaign while Gruntz puts on a full-court press of LEGAL THREATS. The facts are that they are ALL MEANINGLESS THREATS MEANT TO SCARE YOU. Do not pay any heed to them. The fact is that Gruntz dares not carry any threats out because that would bring his scam into the light and out of the darkness. He cannot allow that to happen. Arlington group is a totally fictitious non-entity. Gruntz will not sue you EVER. He has well over $20,000 per month in legal bills already - that is, people suing HIM. He has no income - he denies getting any income. Gruntz does not file income tax returns. His entire operation is underground. There is no paperwork - no contract - nothing to legally connect him with you (except for power of attorney in your trading account). Which you should freeze immediately and block Gruntz from your account.