The company Allsportsmarket.com (ASM) is an online pyramid scheme based on the otherwise really interesting concept of a sports stock market. Unfortunately, it is run by scammers (CEO: Chris Rabalais) who have been involved in other suspicious projects before. The result is that they have tried almost everything now to get new depositors. This includes the faked selling of corporate stock with false promises of going public in August the active manipulation of prices by the site owners, the refusal to publish a concise set of rules that apply to EVERYONE on the site, and the refusal to make details about the staff members available.
The forum on the site was closed immediately when several members began to openly address the illegitimate activities going on behind the sites. ASM staff members have also flooded other Websites with faked comments of "happy users" and threatened people who announced that they would make their bad experience with the site public.
While it is totally fine that people may lose money on a stock market, this is not the problem for most people with ASM but the problem is that the whole set-up of the market is a classic pyramid scheme (transaction fees are used to generate revenue, i.E. There is ZERO external money from companies or sports teams or similar involved — only user action generates money — if users do not trade or deposit, there is no revenue and no money to pay out).
I am one of many people who have tried to withdraw their money but who have been refused access to their money with various excuses (e.G., "you're in the queue", "we will notify you as soon as we will process your request", "we do not offer this withdrawal method any longer, so please, pay XXX in fees to get your money", etc. - or, no reply at all).
If you're thinking about depositing at Allsportsmarket.com, please, for your own sake, don't do it.
ExASMuser
Dresden
Germany
0 comments