Sports Arbitrage Discussion Forum - Suncity Equities and Investments ***SCAM***

aegist
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Suncity Equities and Investments ***SCAM***
« on: Jan 17^th, 2008, 6:24pm »

Hi guys,
I have someone asking me at the moment asking about Suncity investments. I have responded with the usual, and this one is looking just like the rest. He asked me to have a closer look though because apparently they have actually paid out to his friend, so looking closer, things still look like normal to me, but I just wanted to get the opinion of some more professional traders than myself:

http://suncityei.com/Results/tabid/62/Default.aspx
Are any of those trades possible?

Like placing $13,630 at BetAndWin (most I could ever place at bet and win was like $150.)

Ben, I am very very pleased to hear that your friend was actually paid out - maybe you will be lucky too, maybe this company is the exception - but know that if you invest, you are risking your money. Scammers do often use the first round of payouts strategy - ie, they pay out to the first people who took the risk with them so that those people will then go and tell all of their friends how they made all of this money. It brings in a huge round of second investors (much more than they could possibly get by their own advertising efforts - word of mouth is far and away the best advertising a company can get) and then when they have a whole bunch more money in their accounts, that is when they suddenly close up shop and leave.

Maybe that isn't happening here. I don't like to assume anything, but even if it isn't - the risk of it, or some other unpredictable calamity happening with this company which causes it to lose all of its funds is very very real. So only 'invest' money you are willing to lose (because if I was a betting man, I would bet on that being the outcome).

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« Last Edit: Mar 21^st, 2008, 4:06am by BoyOwen »

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ww88
Seymours Lovechild Member

arb on!

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Re: Suncity Equities and Investments
« Reply #1 - on: Jan 17^th, 2008, 10:51pm »

Those figures are very humourous.
I think if you look at it logically, if they could turn $1500 into $48,817 in a year why would they need your money. Also if they can afford to pay out 1% a day they must be making many times that themselves so again why would they need your cash. Pretty much anyone could get hold of $20,000 even if it was on credit cards, so that would give them a cool million dollars at the end of the year and that is still based on the 1% figure. If they can pay out 1% I think they must be earning at least 3% per day and probably more.
If that was not obvious enough, look at what happens if you leave your money in for more than a year. $1500 at 1% for 2 years $2.14 m, 3 years $81 m, 4 years $3,057 m, 5 years $115,504,369,125.83

ww

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May the god of arbs shine his light on me!

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Strat Ex Member	Re: Suncity Equities and Investments « Reply #2 - on: Jan 17^th, 2008, 11:39pm » 1% profit a day by arbing, holy cow, do they accept MB or Neteller! Anyway, it does not leave much room for speculations if this is a scam or not....
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Fav Senior Member Posts: 316 Reputation: 3 Gender:	Re: Suncity Equities and Investments « Reply #3 - on: Jan 17^th, 2008, 11:50pm » can i go for 1 bucks on this stuff?))) I believe them. i've just calculated in 5 years with 1% for day from 1$ you'll get 77 002 912$ niceeee!
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ww88 Seymours Lovechild Member arb on! Posts: 2140 Reputation: 10	Re: Suncity Equities and Investments « Reply #4 - on: Jan 18^th, 2008, 12:28am » Hadn't thought of that. I'll stick a buck in to, just in case . I bet they only take egold ww
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tribet Ex Member	Re: Suncity Equities and Investments « Reply #5 - on: Jan 18^th, 2008, 5:30am » Those bet amounts are pure comedy gold the only way they would be remotely possible is if they had direct access to your betting accounts and even then they would need a team of people placing the bets.
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mike_cool Junior Member Posts: 92 Reputation: 4	Re: Suncity Equities and Investments « Reply #6 - on: Jan 21^st, 2008, 5:01am » Yep I agree These guys are definitely a con Steer well clear of these guys otherwise the $$$ will be going bye bye Mike
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Seripoth
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Re: Suncity Equities and Investments
« Reply #7 - on: Jan 21^st, 2008, 4:27pm »

Loved the last 2

Arbitrage : 96.86
AMELIE MAURESMO (1.150) T. POUTCHER (10)
BETFAIR WILLIAM HILL
Place Profit Place Profit
$17,937.00 $627.00 $2,063.00 $627.00

So if mauresmo had retired in the 2nd or 3rd set bye bye "$17,937.00"

Sunday 13/01/081:37 am Basketball
Arbitrage : 97.91
TREVISO(1.449) DESARO (3.449)
INTERWITTEN PINNACLE

Place Profit Place Profit
$14,081.00 $417.00 $5,919.00 $417.00

Wonder how many interwetten accounts u would need to place that amount?

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Strat
Ex Member

Re: Suncity Equities and Investments
« Reply #8 - on: Jan 21^st, 2008, 10:27pm »

Quote from Seripoth on Jan 21^st, 2008, 4:27pm:

Sunday 13/01/081:37 am Basketball
Arbitrage : 97.91
TREVISO(1.449) DESARO (3.449)
INTERWITTEN PINNACLE

Place Profit Place Profit
$14,081.00 $417.00 $5,919.00 $417.00

Wonder how many interwetten accounts u would need to place that amount?

Well, they seem to accept 30€ for any basketball match at least from me, so you only need roughly 325 fake account to place that wager!

Edit: Assuming US $, not aussie one.

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aegist Global Moderator Posts: 1414 Reputation: 31 Gender:	Re: Suncity Equities and Investments « Reply #9 - on: Jan 23^rd, 2008, 6:28am » More. http://www.sportsarbitrageguide.com/wordpress/2008/01/23/st-gallens-investments- suncity-equities-and-investments-and-other-arbitrage-investments-again/ Two new companies added to the list today alone. Incredible.
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philc
YaBB Newbies

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Re: Suncity Equities and Investments
« Reply #10 - on: Jan 23^rd, 2008, 3:51pm »

Good on you Aegist!

Thanks for your article and I hope that you do feel that you are helping people, and by helping them be informed could save them thousands of dollars. Also, sure, you shouldn't attack companies without knowing any info on them, but it seems to be a familiar pattern every single time one of these Companies pop up.

I mean how many times can we be open minded, investigate, be let down time and time again and then finally lable them a con. As the saying goes "once bitten twice shy"

Anybody who has claimed to profit seems to disappear rapidly once this forum poses difficult question, so my only conclusion is if you want to have a go at arbitrage stick with advice from reputable guys here on this forum, and not any of these scammers...

On a funny note I just checked out sun cities website, and see they are using holiday prizes as bait to their potential clients! I wonder does Flight Centre know they are being used as a marketing tool!

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ballsbygm
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Re: Suncity Equities and Investments
« Reply #11 - on: Jan 29^th, 2008, 2:16am »

Hi All,

Any more info out there on this mob?

A mate of mine has signed up with Suncity (been going 5 months and has got another friend in it also). The deal sounded great, I looked at his online acount, he is averaging 9% per week! Now up to $19000 (so the account said anyway, I'm now sure by month 9 or so, the lot will be lost, the Company will be very sorry and fold!)

I knew nothing about all this but was keen to get onboard, christ $50k from $8k in a year. Luckily I was smart enough to do a little bit of checking around first.

Summary so far on Suncityei:
1. ASIC search on ABN shows 15 months of operation. After 9 months, changes of Company Director and registered address (this means one group has gone through, happy or scammed?). Would like to here from some!

2. Web site was commissioned by Dale Burgess. This is not the name of their director etc and the only link to Sun City for him. He pops up and is linked to Rosekirk (Larry Pickering) etc and is being hunted on many forums.

3. Address 10-12 Bay st Southport QLD comes up on many of the set up doc's (web site, ASIC search etc for Sun city and the ei branch company running this deal/scam?). This location is actually the address for AAA Radiators (I called them) they have been there for several years! No finance mob anywhere near them?

4. The address on their sent out Paper work shows suite 104, 15 Albert Ave Broadbeach Qld 4218. I have rang them under a couple of different names, when I said I will be over that way with work (to a cute sounding girl called Natalie, she gets all the calls even on w/end call divert!) she said they were moving office. I persisted, with a full days notice and prior booking, she would let me come down in person (took some work though). I asked for the new address, she didn't know it. The stories given to me were also very different between my two approaches (one as a synical must know everything type and one as a where do I sign type, was fun in a PI sort of way).

5. A few smaller leads, all seem to go back to (or at least point to) the same scammers (as well documenter here and on several other forums.

Would love to here anything more concrete than this, or from actual investors.

For now, not sure if me mate can pull out his money ($8k or the full $16k?) the conditions say no. He might be able to work the hard luck, I'm loosing my house story and get lucky that they don't want any bad press yet (there is still 6 months of scamming to do for this run/company name).

Or he rides it out and hopes all this is just a coincidence.

Thanks for listening, would appreciate any other info you could add.

Cheers

Balls

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aegist Global Moderator Posts: 1414 Reputation: 31 Gender:	Re: Suncity Equities and Investments « Reply #12 - on: Jan 29^th, 2008, 2:25am » Wow. Great snooping Balls. Glad to have you around. I really hope your friend gets paid out, and this isn't a scam. But I wouldn't be brave enough to bet on any odds of that happening.
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mike_cool
Junior Member

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Re: Suncity Equities and Investments
« Reply #13 - on: Jan 29^th, 2008, 8:44am »

Well,

It sounds like our old friend Larry is already cranking with a new identity from that of CSI Arbitrage. I would bet that he keeps both of them going for as long as he can till they are shut down or indeed he closes up and high tails with the cash.

I have been on the suncity website and the professional image they are trying to portray is similer to that of CSI, Granted they look totally different but the idea of portraying that they are alot bigger than just a scam Arbitrage company stays the same.

Once again these guys are from the Gold Coast and claim to make un realistic impossible returns. Scam!!!

Also I wonder how all the major banks would feel to have their logos on Suncity's website. I'm sure this is a serious breach of trademark.

it seems a new arbitrage company pops up everyday.

Mike

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dodgemartin
Ex Member

Re: Suncity Equities and Investments
« Reply #14 - on: Feb 5^th, 2008, 7:22pm »

Suncity Equities and Investments pl is a lie.

They will tell you i am a disgruntled employee however they are working out of a house at 4 royal Mews Court Sovereign islands. Gold Coast.

The Director DaleBurgess mobile 0403806096 owes hundreds of thousands of dollars to people who also were ripped off through selectatab horse racing programme a few years back and went in to hiding. He is now the director of Suncity and drinks down the local bowls club daily with a huge beer gut.

He has a skinny small man by the name of Martin Dodge 0405671681 or 0416966368 that works and lives in the house pretending to be a trader....he is a used car salesman and a known rogue. His telemarketers work out of a unit in Norman Street Southport unit 30. Seabay Luxury Apartments this is where he has a car dealers license registerred.The mailbox in Broadbeach is a mailbox not a office . I t then gets diverted to Chirn park PO Box 90 or 70 and then they pick mail up. He is constantly on morphine for neck pain and smokes marijuana all day also getting all his sales staff stoned. Martin also has a used car dealers license that he also rips people off with.He is not a trader and certainly He and Dale are not looking after any of you. The monies are going straight in to there pockets. Martins brother David Dodge lives at 70 Broad street Labrador and signed out of the business however he still knows they are scamers. He holds swingers sex parties at his house and has benefitted from the profits the pure robbery.

The sales staff are all being paid 25% of the sale price and they all work in this old mansion that they rent from the professionals in runnaway bay for a $1,000 a week. There is no trading room they use software called surebetpro that anyone can use themselves the bell ringing in the background is on surebetpro software. Some of the salespeoples names Steve Helson, Natalie Marshall, Chris whitney, are all aware that this is not real and are just greed monsters....Kia Reed is the admin mole and also knows the scam.....

The finance side comes from Gerard Mc Dermott 0416874952 he never answers phone only to his many girls and is does not have a office or a very good reputation.... he is just letting them use his name for money he is as bad as them. He drinks at the Del Plaza Hotel Scarborough Street Southport.

I would recommend everyone to draw there monies out and i bet you at 10% even 3% they will not be able to pay they are liars, cheats and good salespeople. I should know i set it all up for them and now i know they are a scam they have sacked me and will not pay me. Do not believe them...ring up asic ring up accc. Office of fair trading. Go to Sovereign Islands and Paradise Point bowls Club ask for Dale he will be outside shouting everyone scooners the fat liar.

The fraud squad are investigating them.....it does take time......I am going to be going to court and also asic to shut these thieves down. If anyone needs any help or would like to join me in a class action please do. I have a contact email as already sent p;ease reply if you alll need anything

I am so sorry to have to let you all know this horrible news your statements on the website only come from a clever graphics and programmer they hire Mushtaq Hussain he actually works for the Gold Coast Bullettin permanantley and this parttime.--

please make sure that if you have any referral s let them know.....they will try to tell you i am making this up i am not.

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