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Gryphon Financial / Fraud

1 Suffern, NY, United States Review updated:

They are quite a scam…I am Man enough to admit this was a terrible choice I made & they are a complete fraud. I realized 1000’s of dollars later…They do not answer the phones anymore….They claim to invest in good options/stocks but they really have no research dept with any people of any value...Can we all do something & unite to get some of our money back?
S Perlysky- Airmont, NY (Rockland County)

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  • Da
      15th of Mar, 2010

    They offer financial tips on stock and options. They have numerous programs available. The offer long winded Bull that would make you believe that are actually located on Wall Street and they are active EXTREMELY SUCCESSFUL TRADERS.

    THEY MENTION THE NAMES OF THEIR GURU SUPER STAR TRADERS THAT WILL LEAD YOU TO RICHES. NAMES ARE KEN MESEKA. MICHAEL WARREN.

    I AM COMFORTABLE THAT THESE TWO NAMES ARE PHONY.

    THEY ARE IN A APARTMENT ON STATEN ISLAND.

    THEY USE OTHER PEOPLES FINANCIAL PRODUCT NOT THEIR OWN.

    THEY ARE NOT TRADERS, INVESTORS, BUSINESSMEN OF REPUTE. THEY HAVE A FAILING GRADE WITH THE NEW YORK CITY BB.

    THEY USE PHONY ADDRESS'S FOR NUMEROUS DOMAIN NAMES.

    THEY USE ADDRESS'S THAT DON'T EXIST.

    THEIR WHOLE GOAL IS TO GET YOUR CREDIT CARD NUMBER AND A FAXED COPY OF THEIR AGREEMENT THAT SAYS ABSOLUTELY NO REFUNDS.

    AVOID THESE FOLKS LIKE THE PLAGUE.

    IF YOU HAVE OR HAD A PROLEM GO TO THE ATTORNEY GENERAL OF THE STATE OF NY. THE NY CITY BETTER BUSINESS BUREAU AND FINALLY FILE A COMPLAINT WITH THE FRAUD DIVISION OF THE S.E.C. IN NY CITY

    NOTIFY THE DISTRICT ATTORNEY FOR STATEN ISLAND. DEMAND YOUR CREDIT CARD COMPANY TAKE THEM OFF THE LIST OF APPROVED VENDORS.

    GOOD LUCK

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  • 20
      19th of Apr, 2010

    I am a victim of fraud by Gryphon Financial and I want to get my money back and it may be possible that this web site may be working to get the money returned to those who were victims of fraud without filing a class action lawsuit. I suggest you keep looking for any further complaints by doing an internet search on Gryphon Financial complaints and Gryphon Daily complaints. They changed their name to Gryphon Daily and they have a new web site. This site will also have updates, so I suggest you look at this web site periodically to see if they have new information to share.

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  • Sp
      21st of Apr, 2010

    ,
    This is quite a scam…I am Man enough to admit this was a terrible choice I made & they are a complete fraud. I realized 1000’s of dollars later…They do not answer the phones anymore…..Can we all do something & unite to get some of our money back? S Perlysky- Airmont, NY (Rockland County)

    0 Votes
  • Li
      21st of Apr, 2010

    SEC Halts Internet-Based Scam by Staten Island Firm Luring Investors With Phony Stock Tips and Fictional Trading Experts
    FOR IMMEDIATE RELEASE
    2010-61
    Washington, D.C., April 20, 2010 — The Securities and Exchange Commission today charged a Staten Island, N.Y.-based investment advisory firm, its owner, and four associates with operating an Internet-based scam that misleads investors into paying fees for phony stock tips and investment advice from fictional trading experts. The SEC obtained an emergency court order to freeze the assets of the firm and individuals involved.


    --------------------------------------------------------------------------------

    Additional Materials
    Litigation Release No. 21494
    SEC Complaint

    --------------------------------------------------------------------------------

    The SEC alleges that Gryphon Holdings Inc., owner Kenneth E. Marsh, and the Gryphon associates induced investors to pay fees of up to $250, 000 for securities recommendations that they falsely claim are based on sound research and successful strategies of trading experts with superior knowledge. In an effort to lend legitimacy to the firm's advisory business, Gryphon touts trading experts with fake names who boast millions of dollars in trading riches as well as top-notch educational backgrounds and prominent experience at major Wall Street firms. Gryphon representatives even fabricated glowing testimonials from George Soros and purported clients who profited by trading securities the firm recommended.

    According to the SEC's complaint, filed in U.S. District Court for the Eastern District of New York, investors who followed the guidance of Gryphon's purported experts have suffered significant losses by trading on those tips or, in at least one instance, by allowing Gryphon to trade on their behalf.

    "Gryphon and its associates attracted clients through postings on the Internet that falsely exaggerated their investment prowess, " said George S. Canellos, Director of the SEC's New York Regional Office. "They sold a bill of goods by pretending to be legitimate money managers with a long track record of extraordinary returns, distinguished clients, and hundreds of millions of dollars under management."

    David Rosenfeld, Associate Director of the SEC's New York Regional Office, added, "They touted offices on Wall Street and around the world while, in reality, defrauding investors from a strip mall on Staten Island. Gryphon was nothing more than a sham designed to separate clients from their money."

    In addition to Gryphon and Marsh, the SEC's complaint charges Baldwin Anderson and Robert Anthony Budion, both of Staten Island, N.Y., Jeanne Lada, of Freehold, N.J., and James Levier of Beachwood, N.J.

    According to the SEC's complaint, Gryphon obtained more than $17.5 million from its operations over the past three years. Gryphon and its associates made numerous material misrepresentations and omissions since at least 2007 to entice unsuspecting clients to purchase its services. Gryphon's representatives used high-pressure tactics to obtain additional fees from clients to purportedly give those clients access to "better" yielding investment tips, even if Gryphon had not provided all the advisory services for which the client had already paid.

    The SEC specifically alleges that Gryphon falsely touted that it:

    Has significant trading operations
    Manages or advises hedge funds with holdings in excess of $1.4 billion
    Has a principal who "pull[ed] in revenues that exceed $50 billion"
    Has a "self made billionaire" who is a "great stock picker"
    Has key personnel who were educated at prestigious institutions or who were affiliated with major investment banks
    Received an endorsement from George Soros
    The SEC's complaint alleges that Gryphon made these and many other material misrepresentations in the course of inducing clients to purchase investment services or providing personalized securities recommendations to clients.

    Gryphon markets itself as a publisher of financial information. Gryphon frequently posts investment tips on the Internet using at least 40 different monikers such as "Wolves of Wall Street, " "Wall Street's Most Wanted, " "Pure Profit, " and "Mafia Trader." In reality, as alleged in the SEC's complaint, Gryphon's financial publications only serve as a vehicle to attract unsuspecting clients to pay fees for personalized investment recommendations, portfolio analysis, and money management services that Gryphon purportedly provided.

    The Honorable Jack B. Weinstein of the U.S. District Court for the Eastern District of New York granted the SEC's request for a temporary restraining order and asset freeze against the defendants and six others, including Marsh's wife, who each obtained in excess of $500, 000 from Gryphon's bank account.

    The SEC's investigation is continuing.

    The Commission would like to thank the U.S. Attorney's Office for the Eastern District of New York and the United States Postal Inspection Service for its assistance and cooperation in this matter.

    # # #

    For more information about this enforcement action, contact:

    David Rosenfeld
    Associate Director, SEC's New York Regional Office
    (212) 336-1053

    Ken C. Joseph
    Assistant Director, SEC's New York Regional Office
    (212) 336-0097

    Joseph Boryshansky
    Senior Trial Counsel, SEC's New York Regional Office
    (212) 336-0113

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  • 20
      21st of Apr, 2010

    Hi,

    I gave you the wrong SEC site for looking at the Gryphon SEC filing so now I will attempt to give you the correct site.

    http://www.sec.gov/litigation/complaints/2010/comp-pr2010-61.pdf

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  • 20
      21st of Apr, 2010

    Here is the link to the web site of the SEC for the filing of action against Gryphon Financial aka Gryphon Daily. It is 35 pages long and about 8mb so it wouldn't be a good idea to put the whole document on this complaint board. After reading it I still couldn't determine if the people such as myself who bought a program from them will get their money back. I suspect there is no money left in the U.S. because they put the money in a bank account in Bermuda or someplace else. They are probably hiding money somewhere and the SEC won't be able to get there hands on it and the Gryphon defendants will skip the country and set up shop somewhere else. That is the way they do business and unless they are put in jail right now they will leave and we will never hear from them again or from the SEC unless the SEC has secured a lot of money from them to pay those who lost money by buying any of their programs. Who knows how long we will have to wait to get any return of the money we spent buying their programs. I can only hope the SEC will not drop the ball on this one as they do on so many other cases because they don't have the number of people on their payroll to follow up and close cases; all they have time for is opening new cases and closing down fraudulent businesses and it could take years to get any money back if we get any money back. The SEC was sleeping when Lehman Bros. and Bernie Madoff did their thing and crashed world wide stock and money markets, so what makes this any different? I hope someone knows something more and can post it so we all can stay informed. We got Gryphon but I still see they have someone answering the phone today, April 21, 2010, but I don't think they will be answering the phone on April 22, 2010 unless they are dumb and greedy enough to try and fleece more people who are as stupid as I for even thinking of paying them money for their advise. I think they are that greedy as they are used to fleecing people and they think no one can touch them. Wrong, I hope. Here is the SEC web site for the link to this particular case #21494.
    http://www.sec.gov/litigation/complaints/2010/comp-pr2010-61.pdf

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  • Gr
      22nd of Apr, 2010

    I too was scammed out of 5K from Gryphon. The only # I was getting thru on is 212-859-5088 and the person who answers acted as though i was bothering them. They told me they had a "can't miss buyout trade" in TIE call - I am down 2k on the trade. It was a huge mental error on my part to get suckered in, but never the less, this company is a complete fraud. I called my credit card company to dispute the charge and I would urge all others to do the same. I don't think they will be able to recover the charge, but it is worth a shot. I am also attempting to reach the SEC to see what other recourse there may be. These people need to be put in prison and hopefully we can recover our $. Good luck to all. Let's work together - if anyone gets more info, please post it. Thanks.

    0 Votes
  • 20
      22nd of Apr, 2010

    I am still trying to find out how to make sure those who lost money can go about filing a claim with the SEC to recoup the money they lost on the programs they bought from Gryphon. I don't think the SEC will allow for the recovery of loses from the individual investments people made from the recommendations made by Gryphon as there may be a point of law wherein it is up to the individual investor to use due diligence when investing and Gryphon informed people of this fact on the contracts they had people sign. There is also the possibility the contracts will be deemed null and void, which I think is a strong possibility as Gryphon may try to sue the individual investors for breach of contract for not paying them the money they contracted to pay them. I don't think for one minute that a judge would rule in favor of Gryphon on any suit they may bring against anyone. They have all been arrested and have to post bond to be released which may not be possible because the assets of Gryphon and all the individuals have been frozen. We can at least take pleasure in the fact they are finally shut down and they will all be convicted and they will all go to prison. I just hope the court doesn't fine them as a fine may take away some of the funds that have been frozen, in which case we, the individual investor, may not be able to collect as much money as we want to recoup our losses. I ask all who are reading this post to help all of us and post any new information concerning how to go about recovering our losses and how, where and when to file a claim. There is the possibility that the computer files and all files that Gryphon has is in the hands of the SEC or the New York State Attorney General and all of us may eventually be contacted by the NY Attorney General or the SEC and be told how and when to file claims. With that in mind, I suggest to everyone to gather all their papers, email, contracts, letters, etc. and keep them in one place for use in the future as were everyone to gather them now and not keep them stored on their computers they will have the information were their computer to crash, which isn't a matter of if, it is a matter of when, and computers will crash. We have this avenue of communication so let's use it.

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  • 20
      23rd of Apr, 2010

    Here is the web site of the S.E.C. for people to read the charges filed. I suggest that people click on it and read it. Then I suggest that all those who were defrauded by Gryphon contact the U.S. Attorney's office in New York, Roger Burlingame at 718-254-7000 and agree to participate in the case by providing information to them and cooperating with their investigation and gathering of evidence. We may be able to recoup some, if not all, of the money we spent buying their programs which will be shown to be fraudulent and the contracts we signed may also be declared null and void by the court. It is my feeling that those who participate in the investigation will have their names on record with the court and stand a better chance of being reimbursed than those who try and file claims later. Let's all get together on this and contact the U.S. Attorney's office. Here is the web site:

    http://www.sec.gov/litigation/complaints/2010/comp-pr2010-61.pdf

    0 Votes
  • Ow
      8th of May, 2010

    I too got scammed. I paid a total of $29, 500 for their services. They had a clever plan of luring me into a higher more costly service each time I had committed to a previous lower level one. The last few times they kept haggling me, I didn't want to pay, but then they offered me a discount on the Inner Circle service if I paid a reduced balance right away. The fellow was also telling me that if paid right away, he would release a great option pick for me. My original 2 contacts, Robert Vincent and Robert Anthony supposedly left Gryphon a few weeks ago after which I received a phone call from a new contact who was very aggressive in asking me for another $6 M so that he would release another trade to ne. He said if I paid this amount right away, then I would have a lifetime membership. I argued with him, telling him that there was no end to this and that each time I paid off my membership, I was being pushed into paying more in order to get another pick. They had a clever new name for each service they offered. The Inner Circle membership was supposed to be one of the most elite meberships as promised to me by Robert Vincent. He promised that after signing on to this service, I wouldn't need to join any other one for the rest of my annual contract which was supposed to end in August 2010.

    I checked their website yesterday and even though I can still sign on, the last update showing was on April 16, 2009. I had stopped receiving their daily reports about 3 weeks ago. I called them yesterday and there was only a voice mail. Of course my emails weren't returned either.

    I should never have listened to these con artists as they were very pushy from the get go. I should have trusted my instincts and hung up on them. Like the previous writer's were saying, we should keep each other posted and work together to claim our losses. I will write to the SEC. If anyone has any good advice for me as to how to file a claim on this, I would really appreciate it if you would let me know.

    Thank You

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  • 20
      3rd of Aug, 2010

    Owen,
    I have helped others get back all of the money they paid to Gryphon Daily aka Gryphon Financial using credit cards as once one shows the credit card companies that there was fraud the have to return the money to your account. I have a stock letter that I email to people to use for sending to their credit card companies and I will gladly send it to you if you will give me your email address to my personal email as I don't want the wording and documents that are attached to be posted on https://www.complaintsboard.com. I will give you my email address and you may send me an email and tell me if you want me to send you the stock letter. I am retired and have the time to do this. I got back $17, 000.00 from my credit card companies and it was not a problem doing so as I was able to prove beyond any doubt I was a victim of fraud. Here is my email address:
    [protected]@yahoo.com

    0 Votes
  • Fl
      4th of Aug, 2010

    My last communication with them was in March. I kept calling and asking for my "representative" Richard Lanza. I left messages with the girls in the office four or five times. He never called me back. I just let it go for awhile because I had lost so much money I didn't really want to hear from them because they would always ask for more money so I could make more money. I just didn't have any more money. I finally (about a week ago) called them. I was still dreading it. I got a recording that said the call could not be completed, ty later. I also could not find the web page. When I googled "Gryphon" I discovered all this. I am like so many of you, who fell for their tactics. In addition to losing what I paid them, I lost on the trades like crazy. Every now and then they would throw in one that made money and it would motivate me to keep going. What a dummy I am, a female, raising foster children, and my grandchildren, and they are stealing from me. I was recruited by Robert Anthony, worked with Robert Vincent (who was vicious and who knew my situation who kept talking about driving a racecar on the autobon in Europe.) He then turned me over to Richard Lanza (Senior Partner - Ha!) who took me for even more. I hope they all get what they deserve. None of these people are mentioned in the charges but their bank accounts should also be seized. They made more than we did, that's for sure. I have contacted the Attorney General (Roger Burlingame) and am waiting for a call back from the investigator: Jack Ellis at 718-254-7576. I called yesterday and am still waiting for his call back. If anyone has anymore advice I would appreciate it. My email is: [protected]@live.com.

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