Hudson Empire / Fraud
Investors and Brokers beware of this company. It is a complete scam run by people who have no backround in finance other than this scam. It is owned by Leon Chesney, former owner of Empire Wealth Management. Empire/ First National Capital Group/ Spyker Metals/ Hudson Empire. Four diffrent names to the same company/scam. Hudson Empire is the latest name. Google the other three names and see what comes up. Basically you invest money, lets say 10, 0000. You are told your investment will be levereged at 4-1, or 3-1. Thearefore, a 10% percent move will be a 40% gain. However, what they dont tell you is out of the 10k, over 6k in initial charges and comissions is taken out. When the metal goes down, say 10%, you get a margin call and are instructed to either send additional funds or your position will be liquidated to cover costs. That is how you lose your 10k in the blink of an eye. There are alot of these scams around right now, so be carefull who you send your money to. The MO here is for them to call novice investors who don't know the right questions to ask.