Been diddled? Here’s how to get money back from Paypal
Today’s Adventure in the Biz Opp Jungle:
‘In which Charlie returns to Star Trader and hears a troubling tale of a reader pressured into buying shares, exposed more on Simmons, and has a tip on protecting your paypal purchases.’
Hi,
You know about boiler room scams?
It’s where some total and utter [INSERT EXPLETIVE HERE] rings you up and forces you to buy shares in an utterly [INSERT EXPLETIVE HERE] company.
At the point when you realise you’re being pressured into something, you should say:
“Look here, you total and utter [INSERT EXPLETIVE HERE]. Take me off your database.”
But it’s tricky. You can’t get a word in edgeways. The phone in your hands gets wet with perspiration. And before you can say [INSERT EXPPLETIVE HERE] the slippery eel of a salesman has bullied, cajoled and lied his way into your affections.
The swine.
Suddenly you’re the owner of a clutch of shares in a company that doesn’t exist... OR a company that does exist, but whose share price rises for a second, then plummets into the abyss like an enormous plummeting thing.
If you’ve not heard of these things, well now you have. Be careful.
But if you’ve been around the block a bit, and you’re thinking “yeah whatever Charlie, tell me something new”, hold your horses, I’m not finished yet.
I’ve come across something very unsettling... where you buy into a trading software opportunity AND then get the kind of high pressure treatment you’d only expect from a boiler room fraud.
Read on and I’ll reveal all...
Why this software opp won’t cut it
When I began Adventures in the Biz Opp Jungle, one of the first bad reviews I gave was to Star Trader.
My main reason for doubting this trading software was simple.... All you get is software. Nothing else. None of the other elements you need to become a successful home trader.
Software is fine – but to make money you need clear instructions, some kind of market education, email support from someone who knows what they’re doing, and a disciplined system.
Fancy gizmos on their own won’t cut it.
This is why I recommended Flag Trader on Wednesday – it has very good and easy-to-follow instructions PLUS software that helps you spot profitable trades:
My original view on Star Trader was to avoid it. Because it’s a VERY expensive piece of kit. One that leaves you high and dry, up a stinking creek without a paddle, between a rock and a hard place.
And other mixed metaphors.
But then this week, I got a worrying email that gives me another reason to be suspicious of Star Trader...
How my reader ended up with SHARES in the company!
I got an email from a Biz Opp Jungle reader who bought Star Trader’s propduct for £2500.
He was told that he could get daily downloads for £20... but if he bought 5000 shares in the company (MCI Technologies) he would get them for free.
He writes:
“The customer service pressured me into buying shares at a bargain price or so I was told for the free downloads. Then the price of the shares fell and never recovered. The company changed names and I was told I would need to pay for all downloads, although I had invested several thousand pounds in this program that I never earned a single penny from.”
This doesn’t sound like the behaviour of a decent trustworthy company.
Once again, I’d avoid this.
And here’s another one...
More bad news on Simmons
One of my regulars emailed me to say:
“I also lost £100 to Paul Simmons. He said that he lost all our money trading a football match that failed to go "in play" on Betfair.
I contacted Betfair & they said that the match HAD gone "in play" as normal. Paul Simmons replied that they were lying.”
This corresponds to what loads of other readers were saying about this guy.
Not good at all.
My reader went on to ask if he could get his money back from Paypal. Well, in the US, if you buy something through Paypal, you get a Money Back Guarantee to protect your purchase.
In the UK, they have something called ‘PayPal Buyer Protection’
The website says, “When you use PayPal to purchase qualifying items on eBay, you can receive purchase protection at no additional cost.”
However, if you receive the actual product and it’s merely a case of that the product is below standard, then I’m not so sure.
I’ve done some digging, and it looks like Paypal have a system of mediation that may help.
You can issue a claim at the Resolution Centre on the PayPal website. PayPal's Resolution Team claim they will work towards a fair resolution that satisfies both seller and buyer. This service is free of charge.
If you’ve succeeded in getting money back through Paypal, please let me know your story.
What Clive has dug up on Mr McCarthy’s betting scam
My esteemed colleague Clive Keeling, the guy behind the brilliant review service What Really Wins Money has an offer for you.
“Let me show you how to make £18,000 to £35,000 tax-free in the next 12 months with a betting bank of just £100 – guaranteed.”
Check this out:
Clive lives and breathes betting opps, and he’s not afraid to speak his mind about them. This week he’s been gunning for a Mr McCarthy from D&E Associates.
This dodgy character has been sending out emails in the name "offering a racing tipster service which, at the cost of up to £397, promised the chance to win over £2,000 per week tax-free.
A newspaper article slamming this guy has revealed that all the experts quoted in the mailshots are entirely bogus. They were false quotes from people who quite simply don’t exist.
Yet because of this apparent credibility, an estimated 4,000 people sent McCarthy money, netting him over £300,000.
Blimey.
Anyway, that’s another one to avoid. Don’t touch it with a bargepole. Avoid it like the plague. Give it the old heave ho.
And other mixed metaphors.
Yes, I know I’ve been mixing my metaphors a lot in this letter. This is because I’m writing this email with half a brain engaged in the biz opp world... and the other half thinking, “Is my wife about to give birth, what on earth am I going to do with the dog, have we filled in a birth plan yet?”
In some semblance of readiness, I’ve filled a hip flask with malt whisky and bought some snacks.
Oh, and what else do I need?
Yes, of course, all that the stuff my wife and baby will need – like TENS machine, socks, blankets...
Darn, I’ll have to get onto it.
Later alligator
Charlie Wright
The Biz Opp Jungle