In March, I subscribed to the Electronic Wallstreet Underground and paid $5,000 for trading recommendations from NICK GUARINO for trading in the futures market. The subscription included a 100% money back guarantee for up to 1 year for any dissatisfaction with the service.
After losing some $8,000 from trades I decided to cancel my subscription and request a refund. I called WSU (888-229-7878) on 10/21/03, spoke to "Mark" and requested a refund. Mark said it would take 30-90 days to issue a refund by check. Of course no check ever arrived!
On 12/30 I called to check on the status of my refund and was told that I needed to speak with John Hogan (maybe Holden?) about refunds and he wasn't available. I finally reached John H on 01/09 and he said that the refund was in process and to call back if I had not received a check by 01/23.
I called John again on 02/03 as I had not received the refund check and he told me that it would take another 6-8 weeks to issue the refund. No explanation for the delay.
I have since contacted WSU & John Hogan several times and continue to receive the same BS message that it will take 6-8 weeks.
I also sent a certified letter to WSU on March 19 (before the expiration of the ONE-YEAR REFUND GUARANTEE PERIOD) requesting a refund of the $5,000.00 and received a return receipt.
I have filed complaints with the Attorney Generals in Florida & Kansas, the FTC, and filed a mail fraud report. I have received acknowledgements of the filings but not much else.
I mentioned this problem to an investment broker at the firm I was using for the trades and was told that if I filed a second complaint with the attorney general, WSU would issue a refund. I filed a second complaint & still no action!
Is there a possibility of doing anything via some type of "class action" suit? Anybody have any luck with a refund?
These guys deserve some serious jail time!
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