Option Magic - located in American Fork, Utah - and its owner, Jesse, exaggerated the amount of support I was supposed to receive from their website. The webinars they presented were only examples and did not provide me with clear and concise methods to make profits on my investment. I firmly believed at the time of sign-up that they would do more than just provide webinars to increase my profits on investments.
An individual from Option Magic also called me and recommended that I transfer my IRA money to an LLC, or trust, with their firm. However, an IRA can not be put into an LLC, since it is an individual retirement. The individual stated that by transferring my money from an IRA to an LLC, I could write off hundreds of dollars in expenses. I am an Enrolled Agent (EA) and have been preparing tax returns for over fifty years, and therefore was not comfortable in dealing with a company that suggests questionable tax write-offs.
I believe that Option Magic is charging for services they do not provide, yet try to make you believe that you can make a fortune if you go with their plan. My claim is for $5,000; $1,000 of that is unpaid. I would like a refund of my money.
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