Got a call from a male sales person about an automated trading system that was supposed to return $500.00 a month on a $2,500.00 investment. It required a “license fee” of $6,000 for use of their “system”. Program (overall, not individual) performance was guaranteed or investment in the system returned after a 12-month test. This system is associated with www.autofuturestrading.com.
Very high pressure sales person said that for the past eight years their automated system has posted returns of 20% per month. He said that they were only opening up 300 slots for first time customers and that they were running out fast. A broker was to handle my additional investment of $2500 but I was never contacted. They ran me through a series of “proofs” of the system and immediately had me initial electronic approval and provide credit card information to pay for the fee. I am not as gullible as this makes me sound, but I was taken.
I was subsequently laid off and called to get a full refund. I was promised over the phone that I would be given a refund in 90 days after calling and requesting full immediate refund. I was promised that this offer would be provided in writing. No letter, no contact.
There was a web site he directed me to: www.autofuturestrading.com. It requires a password which I was never given. I was also never contacted by a broker.
Word of warning. Their contract is very specific and covers all the basis including a clause that there may be no class action suit, etc. Refund provided 12 months after signing if a letter is recieved within 30 window after 12 month period. This doesn't matter in any event. The return policy states that the Program, (not my personal account) must show a gross profit loss (NOTE, not NET) in order to provide refund. If the "Program" showed $1 in profit, the return of my "license fee" is null and void. Not so typical sucker scam because the wording would hold up in contract litigation.
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