lifestyle trader

[mariner11]

Re: lifestyle trader - money back advice

I'm a victim of ARLT but I got my money back after going through the legal channel. If you're a victim and want to get your money back, contact me and I will tell your details and my advise.

I am also a victim (sucker really) of ARLT. I would really appreciate any advice on how I can achieve a refund that I am entitled to. thanks in anticipation

 

[fatty59]

I believe I am also a victim. I would also appreciate your advice on how I can also achieve a refund that I am entitled to. Thanks

 

[jakeo]

Interesting article says Lifestyle Trader is bust and looks like alot of people lining up to get money back. Looks like they are trying to rebrand as Capital Investment Systems. Sounds like the same product.

ASIC ruling takes toll on Aussie Rob Local Business | goldcoast.com.au | Gold Coast, Queensland, Australia

 

[jakeo]

sorry meant to say above Investment Capital Systems

 

[mariner11]

Your spot on. Upon checking, Lifestyle Trader has gone down the gurgler and Investment Capital Systems has effectively taken over the company. Aussie Rob (aka Rob Wilson) claims that he'll pay back creditors before paying himself, but one wonders one this means in terms of a payback timeframe for lowly creditors like myself that are owed a refund by Lifestyle Trader. What Intrigues me is how someone like Aussie Rob that has espoused how easy it is to become rich using his 'so simple investment strategies based on when to get into the market and out of the market via crossing of supply and demand red and green lines' , can't even bail himself out of his own debts. If he's that poor, what does that say about his own credibility and that of his strategies ? I guess I was really gullible to believe in him in the first place.

 

[shewolf]

As I understand Investment Capital Systems is a rebranding of the old business with the same owners and one of the Lifestyle Trader salesman as the new head

I just had a look at the website of the new company (Investment Capital Systems Pty Ltd) that bought the busted Lifestyle Trader company from Aussie Rob .

Some funny/dubious things from the new company's website:

First, the website of the new company has NO details as to their location (only a PO box on the infamous Gold Coast in Australia and an anonymous 1300 phone number) and NO details about who the Directors of the company are.

Also, Investment Capital Systems Pty Ltd ABN 67 146 410 353 is an authorised representative 415281 of Lifestyle Investor Services Pty Ltd - ABN 27 120 224 482 AFSL 325184.
So they are still using the services of a now defunct company?

The program is structured using a Multi Account Manager (MAM) system, where trades are placed in a central account and subsequently filtered to the accounts of individuals who have requested trades during that period.. What? There is NO separation of accounts?

Investors in the FX Swing 1 system will be required to open and fund a trading account with Alpha Broking.
Why is it necessary to use only their broker? And who are these brokers anyway? Security of traders funds is paramount and being forced to trade with some tiny brokerage with unknown financial backing is just asking to be ripped off.

Any body who deals with a company like this deserves to be ripped off for every cent they pay to the company:clap::clap:

 

[anley]

Got to love how the first post stooges are always shown up.

Have faith they say, don't be so negative, the vendor is a real winner and loves to help out newbies.

Well, about the only 'help' these shysters and get-rich-quick merchants ever do is help deplete your credit cards.

YOu've all been warned - stay away from people offering easy-money in the markets (5% a month for 20 mins work).

I have joined this simply because I have just searched to read what people have said about Lifstyle Trader.
I know this is an old forum and I am late to read, I am using Lifestyle trader and have used it for 1 year, doing paper trading and making sure I had the best system that I could work out paper trading, I don't have a massive account, I have less than 10k to trade with but after my first month last month of making 30% profit I can say this works, I am not an experienced trader and I have not done any other trading, I am trading Forex and doing well from it so far, I will probably come back to add to this but sofar this month we are still up.

I can see the amount of negativity there is on here, and for a good trader, a successful one, this sort of thing is not good at all. You guys all need to have a mindset calibration.

I will say, I have had trades that have lost, about 50% of them, but when you have wins that travel upto 130% then this cant be all that bad can it?

 

[shewolf]

I just had a look at the website of the new company (Investment Capital Systems Pty Ltd) that bought the busted Lifestyle Trader company from Aussie Rob .

Some funny/dubious things from the new company's website:

First, the website of the new company has NO details as to their location (only a PO box on the infamous Gold Coast in Australia and an anonymous 1300 phone number) and NO details about who the Directors of the company are.

Also, Investment Capital Systems Pty Ltd ABN 67 146 410 353 is an authorised representative 415281 of Lifestyle Investor Services Pty Ltd - ABN 27 120 224 482 AFSL 325184.
So they are still using the services of a now defunct company?

The program is structured using a Multi Account Manager (MAM) system, where trades are placed in a central account and subsequently filtered to the accounts of individuals who have requested trades during that period.. What? There is NO separation of accounts?

Investors in the FX Swing 1 system will be required to open and fund a trading account with Alpha Broking.
Why is it necessary to use only their broker? And who are these brokers anyway? Security of traders funds is paramount and being forced to trade with some tiny brokerage with unknown financial backing is just asking to be ripped off.

Any body who deals with a company like this deserves to be ripped off for every cent they pay to the company:clap::clap:

I wonder what happened to all the shills that came here to ramp this company up? Probably moved on to their next dubious company.

 

[jakeo]

I have noticed two posts recently with "should I buy lifestyle trader" on some other forums. I tried to post a reply but for some reason they wouldnt accept it - I found it odd to say the least given they are now bankrupt.

 

[mariner11]

Interestingly, the former CEO of Lifestyle Investment Services / Lifestyle Trader Murray Priestley, is now "Managing Partner at Alpha Capital Management
Director at Portofino Asset Management " - heaven help those investors. Checked out his LinkedIn profile - he lists one of his previous jobs as "Past CEO at Lifestyle Asset Management " - I wonder what he is trying to hide !
All I can say is, if anyone is remotely considering purchasing the Lifestyle Trader package - steer well clear and protect your capital. Don't become a victim like me and so many other trusting souls.

 

[Lyza]

Well I wish I had found this forum and thread a while back now, that might have saved me from these guys. Anyhow too late now but just before Christmas I was checking these guys out and looking at their website together with their videos of their recent summit in November. Lo and behold, some of these videos are still there but the videos of the CEO have now disappeared. I noticed that the CEO also had a Facebook entry and this has gone as well. Aussie Rob is still there though. Looks like Mr Priestley does not want the outside world to know that he was CEO of Lifestyle Trader when it went down the gurgler.

 

[jakeo]

Lyza, if you have given these guys money I would try to get it back. I have read forums on other sites where most people are trying the legal avenue. On Property Investment - Real Estate Investing | PropertyInvesting.com one scammed client asked for assistance. A lawyer on the forum read the ASIC ruling regarding Misleading/Deceptive Conduct and refunds, and immediately offered assistance. I think the ASIC ruling goes a long way, if they haven’t filtered the cash out already!

 

[UizBSme Nahmorz]

I wonder what happened to all the shills that came here to ramp this company up? Probably moved on to their next dubious company.

I really want to know who is supposed to be running this new company, Investment Capital Systems? It just seems to have appeared from no where offering trading systems - have they even been tested I ask.

Anyway I am sure this Aussie Rob Wilson will have his finger in the pie there getting as much money as he can.

If Lifestyle Trader has gone bust, I bet there are heaps of people that are owed a lot of money. I read they sacked a lot of staff just before Christmas. Can't get much lower than that. Have they all been paid?

Warning............ steer clear of these people!

 

[UizBSme Nahmorz]

Interestingly, the former CEO of Lifestyle Investment Services / Lifestyle Trader Murray Priestley, is now "Managing Partner at Alpha Capital Management
Director at Portofino Asset Management " - heaven help those investors. Checked out his LinkedIn profile - he lists one of his previous jobs as "Past CEO at Lifestyle Asset Management " - I wonder what he is trying to hide !
All I can say is, if anyone is remotely considering purchasing the Lifestyle Trader package - steer well clear and protect your capital. Don't become a victim like me and so many other trusting souls.

Mariner - I found a link to this Murray Priestley! Can you believe he is ALSO a speaker! and here is the big joke, for a CEO that lead a company to it's financial death, he sells some program at seminars about business systems that work! He obviously didn't use these systems himself........ haha.

After reading the posts here, it sounds like this Murray Priestley is just as bad as this Aussie Rob - who would call himself that really?

Sadly it seems so many people have suffered at the hands of these 2.

 

[anley]

The thing is folks the company might be bust but chances are that was part of the business plan because it's hard to get a refund out of a company that is broke.

So they take people for a ride via ABC Enterprises Limited, then it goes broke, planned.

But the same shysters then setup XYZ Enterprises Limited and repeat the whole process.

Of course you need to be a real lowlife to do this but these types of people don't give a sh1t about their clients, only getting hold of their money via a series of lies and half truths.

 

[Barramundi]

The thing is folks the company might be bust but chances are that was part of the business plan because it's hard to get a refund out of a company that is broke.

Yes, I think that was probably Plan B.

Plan A, according to an article in the local Gold Coast rag, was to do a runner as soon as they got a whiff of being sprung:
'Mr Wilson says he was on the verge of doing a deal with a US company to sell Lifestyle Investor Services for $23 million when ASIC got involved and the offer was then withdrawn.'

What really needs to happen at the very least is for these people to be suspended from running any company ever again, but I don't believe there has been a suspension at all in this case, and typically there may be a suspension of a couple of years only after multiples 'failures' ( or runners), and then only if someone bothers to prosecute.

 

[anley]

Y
'Mr Wilson says he was on the verge of doing a deal with a US company to sell Lifestyle Investor Services for $23 million when ASIC got involved and the offer was then withdrawn.'

See the outright lies these get-rich-quick marketers sprout?

One month the company is about to be sold for $23million, the next it's bust.

Folks, good businesses that are worth that much don't suddenly go broke. It's basically an excuse as to why it's been shut down - "the ASIC is to blame, if they hadn't come knocking we'd all still be in business and all the clients would still be making 5% a week for 30mins work a week".

Summary: These guys aren't traders, they're marketers who happen to use 'trading' as the product to sell. If trading for example was banned tomorrow they wouldn't worry, and be back in business using the same marketing methods with a different product.

 

[UizBSme Nahmorz]

Yes, I think that was probably Plan B.

Plan A, according to an article in the local Gold Coast rag, was to do a runner as soon as they got a whiff of being sprung:
'Mr Wilson says he was on the verge of doing a deal with a US company to sell Lifestyle Investor Services for $23 million when ASIC got involved and the offer was then withdrawn.'

What really needs to happen at the very least is for these people to be suspended from running any company ever again, but I don't believe there has been a suspension at all in this case, and typically there may be a suspension of a couple of years only after multiples 'failures' ( or runners), and then only if someone bothers to prosecute.

Have to agree with you here. How can a company be worth $23M then suddenly not have enough money to pay its bills or its own staff? That $23m must have been a fictious figure, created by inflating books, which must be illegal?
Then to blame ASIC! If the people running this company were doing things correctly, ASIC would have never got involved with them, let alone put the EU on them that is quoted on their Lifestyle Trader website!

If the results they claimed could not be achieved and they were taking people's money because of it, ASIC has done the right thing!

What worries me is comments on this forum that believe these people will just set up a new company and do the same thing all over again!

How do you stop people like Aussie Rob Wilson and Murray Priestley from doing that sort of thing? They seem to make a living out of it - and from what I read of the 'high life living' they make damn good money!

 

[Nomoretrading]

Unfortunately both Aussie Rob and Murray Priestly got way to big for their boots. The only part of the lifestyle group that was making an income was Lifestyle Investor Services, which had always been run by professional trader Scott G. Wilson and priestly did everything they cold to hide that lifestyle trader(a separate company to LIS) was going down, they moved money, hid debt and lied to investors about their books. LIS kept the whole group a float, Wilson part owner of LIS and full owner of LT was constantly dipping into LIS income to keep lt afloat. Scott G was driven out being the minority share holder so wilsoni and priestly could use the all them money for their own benefit and hide it so debtors did not get paid. Staff haven't been paid, supers haven't been paid, millions owed in debt, lies and deceit everywhere.

Many staff left when they found out about the filth priestly and Wilson turned out to be, staff all loyal to Scott g left with a hatred it Wilson and priestly. Priestly is now CEO of alpha investment systems, Wilson is of course being paid by them. Investment capital system bought the LT client base to support Them after LT fell, but Wilson is of course being paid there too.
Wilson is such a shark, I hate what he has done to some amazing people, clients, investors and friends!!!!!

Never trust some one who calls him self Aussie Rob, who is nothing but an army trained diesel mechanic!!!

 

[Lyza]

Thanks Jakeo, I'll check that post out.

I can't believe Murray Priestley has written books on this stuff and is touted on the internet as a business coach and the one company he actually goes on to run goes belly up, bit of a joke really and testament to his qualities. He also stated on another thread (post 6) on Trade2win in November 2010 that Lifestyle Group was OK financially, which I have now questioned by the way... No response to date.

http://www.trade2win.com/boards/first-steps/98544-aussie-rob-lifestyle-trader-big-trouble.html

And these new companies, how have they been funded - I mean Priestley is heading up Alpha Capital Management. This sounds like some sort of fund, don't you need cash for this sort of thing and software etc. Just checked the internet and fund software is real expensive, so who's paying for this and why is this money not going to the staff, super creditors etc? Nomoretrading, you seem up to speed, any ideas? Surely, ASIC is there to regulate this sort of stuff?