Usacomplaints.com » Miscellaneous » Complaint / Review: Excelence - 4 Pty Ltd (Sydney, Australia) - Consumer Report. #718378

Complaint / Review
Excelence - 4 Pty Ltd (Sydney, Australia)
Consumer Report

I received a call on my mobile phone from a guy who said his name was Bill Waters and he was from a company called Excellence 4 and was following up the call from their office girls a couple of days ago. I had never received any such call so I asked what it was about, thinking it was something to do with my business.
He said he was part of a small family owned buiness that had developed a system that was giving an average of 17 - 20% return per month betting on sporting fixtures.
So why tell me about it?
He said they wanted to break into the US market to place bets directly with US Bookmakers but the US Govt. Would not allow them to do so unless they had a syndicate with 5,000 members. He claimed this would give them even larger returns. He emailed me a couple of pages of info and said to look at the web site www.excellence-iv.com.Au and I could read all the information and see a file showing the profits from their strategy, which I did. I thought about it and initially thought it was a scam but curiousity got the better of me and I was induced to join up by promises to double my 'investment' every month if I started with a 'bank' of $5000. As I didn't have $5000 he said that didn't matter, I could start with $500 but it would just take longer to get to the $10,000 mark at which they would then charge me a 10% fee on my monthly winnings, until then there was no charge.
I managed to scarpe up $5000 which I was directed to deposit into an account in their name. When I questioned why into their account I was told that they had to open the account with the bookmaker (www.sportzodds.com - who I find are based in Costa Rica - they may be on the level, I don't know) and would deposit my money into that account so that it would be recognised by the US Govt. I also had to give them authority to operate my account for the purpose of placing the bets.
I deposited the $5000 into their account as directed and giot a call back from Bill to say that I had to fill out new paperwork because I had changed the amount I was depositing. I did that and returned it. Last I heard from Bill. Next week I get a phone call from a woman named Lana who wants to know if I have deposited the money into my sportzodds account. I told her I already gave them $5000 to deposit. She just said "That has nothing to with us as it is a different account." I said "I just gave you $5000 to deposit as Bill said!" She says, "I don't know Bill or what Bill said but you have to deposit the money into the account yourself." So I said "Well then give me my money back and I'll deposit it." She says "No, they won't do that." So effectively they charged me $5000 on a false promise and I got SFA for it but a cd with a tiny program in the mail and no instructions as to what I am supposed to do with it. But I was told later I don't have to do anything with it unless I want to use it for my own bets. Lana kept calling me to get me to deposit the other $5000 into my account - I told her I had no money after they had taken my $5000, but she just kept calling me and asking me to dposit money so they could get me making money, remindintg me that until I reached $10,000 in winnings it would cost me nothing - yeah, like it already cost me $5000 for nothing. Eventually I managed to spare $500 which I thought would be able to get me going. The first couple or so bets were winners and it looked like this was going to work. The 'bank' balance got to just over $1000 in a couple of weeks then every bet they made was a loser, despite their guarantee to keep doubling my money with my balance ending up at just a couple of dollars. When I contacted them about it they kept asking me for a copy of the guarantee they gave me - they should have it but they never gave it to me in writing. They wouldn't put anything in writing. Now this Lana has also dissapeared. They will not return phone calls which just go to an answering service. They won't return emails. They promise to make easy money for their 'investors'. The only ones that get the easy money is them. This is a registered company based at an address in Bondi that is a private residence. They claim they have several offices in Sydney but won't say where. All the people associated with the company seem to just dissapear as soon as they get your money. I complained to ASIC but they did nothing about it.


Offender: Excelence - 4 Pty Ltd (Sydney, Australia)

Country: USA

Category: Miscellaneous

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