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Morgans Group Equity / Scam

1 Queensland, Australia Review updated:

A sports arbitrage scam. Invest $8800.00 and wait 6 months to reclaim money and over $10000.00 which grows daily etc etc they closed up shop in late Oct no phone, no emails nothing. Ran off with money from who knows how many people. $40000.00 of ours never to be seen again. They all use fake names of musicians- check google and the names are all there. Now a new company dealing in M.F.D. trading - I think the same twisted mob who present a very polished product - glossy booklets and so convincing. BEWARE check carefully before going any further- we didn't unfortunately.

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Comments

  • Ph
      2nd of Dec, 2008
    0 Votes
    Morgans Group Equity - disappeared
    Morgans Group Equity
    Vanuatu
    morgansgroupequity.com

    company offered investment for arbitrage trading. Minimum investment period of 6 months. Invested in September and followed progress of investment via website. Website closed down last week...about Nov 26th. Emails now returned as undeliverable and no connection via phone or fax.

  • Co
      3rd of Dec, 2008
    0 Votes

    Have had email returned. Tried for two days to contact. Phone no always engaged- or off hook. Was worried about the different names appearing on mail sop have been suspicious. Can we check in Vanuatu somehow. Very worried as made several investments with Morgans.

  • Bu
      11th of Dec, 2008
    0 Votes

    I agree, sucked in a beauty, great looking scheme with constant returns.
    When it got to cash in stage they bolted.
    any thoughts on how to find them???

  • Ed
      12th of Dec, 2008
    0 Votes

    In April this year I was rung by a woman with an accent whose name was Gina. She claimed she was representing a firm Morgans Group Equity who were running a Sports Arbitage scheme. To become a member I was required to invest $8, 800 and then after 6 months and after the fund had grown to $10, 000 I could then start to withdraw my " profits"

    I was sent a glossy brochure which seemed convincing and I was continually hounded by Gina until I joined. I protested I didn't have the money at first but she suggested I put it on my
    American Express Card.

    To access your account you were supplied a username and password which you could look up there website. Alternatively you could email Rick Harrington at customer support at
    support@morgansgrouoequity.com.

    Three weeks ago their website wouldn't open and emails to their address including info@morgansgrouoequity.com were returned with a failure notice. Their 1800 also would not respond and would ring out.

    In their brochure they claimed they were associated with Dial A Bet in Vanuatu where they had a Company Address. I rang Dial A bet in Vanuatu several times and finally got through to a manager Mark Probos and he duly told me that they had no association with Morgans Grouo Equity and that they were only a customer.

    My business Partner Peter did a company search and has found that the registered Propietor of Morgang Grouo Equity Pty Ltd listed in Victooria as Morgans Group Equities is a Daniel Brian Morgan of 58 Wrights Terrace, Prahan, Melbourne, Victoria. Daniel Morgan has a private telephone listing.

    I also rang the Chamber of Commerce in Vanuatu and they put me onto the Financial Services Commission who advised me the Morgans Group Equity had a Registered Office in Vanuatu with Solicitor Geoffrey Gee. I have spoken with Geoffrey and he has advised me that he is only suppling a Post Office Box. He also said he would try and contact Rick Harrington about my complaint and others he had received. When I last spoke to Geoffey he advised me that if he hadn't heard from RicK Harrington within a few days he would take steps to close their Registered Office. The Financial Services Commission Phone Number from Australia is 0011 678 22247. Geoffrey Gee's Phone Number from Australia is 0011 678 22067

    I have also spoken with ASIC who referred me to Fair Trading Victoria. I spoke with Fair Trading Victoria and they sent me a form to complete which I ahve done a few days ago and returned to their office with all the details I have spoken about plus photocopies of all the forms which I received from Morgans Group Equity which were signed and completed by me as well as any other relevant material I had on hand from them. Fair trading Victoria has also advised me to go down to my local Police Station and report the matter.

  • Pa
      12th of Jan, 2009
    0 Votes

    I too lost 2 investment units. Disappointing and annoying. Qld seems to be scam central. Would like to know why this is...

  • Sc
      27th of Jan, 2009
    0 Votes

    they got $8, 800 off me.
    the bank account they gave me was based in southport on the goldcoast.
    i havent chased the phone number down yet 1800 625 188 if anyone wants it

  • Sc
      27th of Jan, 2009
    0 Votes

    i have lodged a complaint with asic, because they used an australian telephone number and an australian bank account it makes it that they had a base in australia, therefore coming under asic.

  • Ra
      4th of Mar, 2009
    0 Votes

    I too have been conned, same story as the rest of the complaints $8, 800.00 etc. Hope they get caught and get their just deserts. Ray Central Coast

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