This one had all the signs of an utter scam. Unfortunately, the persons behind the fund are incredibly shady people and others who tried to expose them were threatened with violence and law suits, in no specific order, so it had go unchecked for a while.
With thanks to The Age...
Peter Foster implicated in international betting scandal
Hundreds of investors in an international gambling syndicate run by notorious conman Peter Foster could lose millions of dollars following his dramatic arrest at a luxury property near Byron Bay on Tuesday morning.
Foster is believed to have operated the Sports Trading Club while hiding from the Australian Crime Commission and other law enforcement agencies on the NSW north coast since September last year.
...
"It doesn't matter what they claim on their website, Fosters' home in Byron Bay was the headquarters. This is another massive scam that is only coming to light now. It will collapse like a house of cards," the source said.
Foster's role with Sports Trading Club is expected to trigger an investigation into the structure of the highly secretive business, which uses a Panama-based "privacy protection service" to conceal the identity of the company behind the online gambling scheme.
Sports Trading Club, also known as STC Sports Trading Club and The Sports Trading Club Partnership, takes investments between $50,000 and $250,000, which is punted on international sporting events.
The company's UK communication manager, Patrick McMahon, claimed in June that Australian investors had received a 1900 per cent return since January 2013.
"We don't gamble, we trade. We make money out of other people's mistakes. When one side gambles and the other trades, it is like owning the casino," Mr McMahon said in a media statement.
In July, Sports Trading Club claimed to have reaped $150 million by backing Germany to win the World Cup in Brazil, while betting against favourites Serena Williams and Novac Djokovic at the 2014 Australian Open also earned a "multi-million-dollar win".
A source said the company had received more than $10 million from private investors over the past month alone.
Want to read just how ridiculous their claims were - click here to download the prospectus and ask yourself why everything is focused on the legal status and nothing is mentioned about what they actually do. Why are they focusing on completely irrelevant people (who have since sued them in order to distance themselves from such 'endorsements'), why do they highlight two female lawyers as being behind the fund (women are obviously more trustworthy). Type 'Sports Trading Club' into Google and see what you find on their website. I'm not going to give them the honour of a link.
The Moral of the Story - if you expect to get rich quickly via a miracle, then it had better be with a lottery ticket. There are some genuine sports investment funds out there (get in touch if you would like to know more), but like any successful pro punter, their long-term yield will be single digits. Anyone can fluke a couple of wins for a great week or great month, but long term, those figures are pure fantasy. It's a hard grind and that's the reason most people won't do it - it is a very hard grind, no shortcuts, and definitely not a champagne, caviar and fast cars lifestyle.
With thanks to The Age...
Peter Foster implicated in international betting scandal
Hundreds of investors in an international gambling syndicate run by notorious conman Peter Foster could lose millions of dollars following his dramatic arrest at a luxury property near Byron Bay on Tuesday morning.
Foster is believed to have operated the Sports Trading Club while hiding from the Australian Crime Commission and other law enforcement agencies on the NSW north coast since September last year.
...
"It doesn't matter what they claim on their website, Fosters' home in Byron Bay was the headquarters. This is another massive scam that is only coming to light now. It will collapse like a house of cards," the source said.
Foster's role with Sports Trading Club is expected to trigger an investigation into the structure of the highly secretive business, which uses a Panama-based "privacy protection service" to conceal the identity of the company behind the online gambling scheme.
Sports Trading Club, also known as STC Sports Trading Club and The Sports Trading Club Partnership, takes investments between $50,000 and $250,000, which is punted on international sporting events.
The company's UK communication manager, Patrick McMahon, claimed in June that Australian investors had received a 1900 per cent return since January 2013.
"We don't gamble, we trade. We make money out of other people's mistakes. When one side gambles and the other trades, it is like owning the casino," Mr McMahon said in a media statement.
In July, Sports Trading Club claimed to have reaped $150 million by backing Germany to win the World Cup in Brazil, while betting against favourites Serena Williams and Novac Djokovic at the 2014 Australian Open also earned a "multi-million-dollar win".
A source said the company had received more than $10 million from private investors over the past month alone.
Want to read just how ridiculous their claims were - click here to download the prospectus and ask yourself why everything is focused on the legal status and nothing is mentioned about what they actually do. Why are they focusing on completely irrelevant people (who have since sued them in order to distance themselves from such 'endorsements'), why do they highlight two female lawyers as being behind the fund (women are obviously more trustworthy). Type 'Sports Trading Club' into Google and see what you find on their website. I'm not going to give them the honour of a link.
The Moral of the Story - if you expect to get rich quickly via a miracle, then it had better be with a lottery ticket. There are some genuine sports investment funds out there (get in touch if you would like to know more), but like any successful pro punter, their long-term yield will be single digits. Anyone can fluke a couple of wins for a great week or great month, but long term, those figures are pure fantasy. It's a hard grind and that's the reason most people won't do it - it is a very hard grind, no shortcuts, and definitely not a champagne, caviar and fast cars lifestyle.
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