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Stock Traders Press Inc / Scam artist

1 United States Review updated:

BUYER BEWARE!!! Paul Schemitz is a representative of Stock Traders Press Inc a stock market recommendation outfit in New York. I had been dealing with him for awhile and have never met such a fast talking con man in my life. He conned me out of thousands of dollars for his services and I have lost thousands more investing in Stock Traders Press investment recommendations. THIS IS A SCAM!!! He appeared to be honest up front, but I recently searched his background and found that he been barred by the SEC from many states in the US for violating securities laws. The owner of this outfit Christopher Castaldo has also had a number of issues concerning securities law violations and has been barred by the SEC also. This company is one of the worst I have ever dealt with. I do not understand how securities regulators allow these people to continue scamming ignorant people like me. I feel like a idiot believing in the line of c*** they gave me. I fell hook, line and sinker and want others to be aware of these people so they don't have to go through what I did. IF THESE PEOPLE CALL YOU, HANG UP!!! THEY ARE SCAM ARTISTS!!!

Fi
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Comments

  • Jj
      24th of Sep, 2013
    0 Votes

    Chris Castaldo and his once employee Kona Barbera Jones defrauded me of over $500K. These guys are liars cheats, scam artist, fast talkers, and switch and bait artist. They need to be in jail. The SEC needs to get after them since they are the biggest swindlers and thief's in the market.

  • Je
      27th of Oct, 2013
    0 Votes

    Chris Castaldo and Kona Jones Barbera, who worked for Chris, along with all of his guys promise that their picks are unbiased and that they do not act as stock advisors. Note that when you get the service they ask that you let them know how much you have to invest and recommend how much to put in the stocks they are recommending. With each security they recommend and ask how much total you plan to buy in the market. They then get their fast talking guys asking you on the phone to invest so much in this stock and sell that one since you have this much in the market and try to get you to take on their new losers. They advertise that they have a 80% success rate in their picks but I can show you where the 7 picks they gave me lost over 90% of its value. That is not just a stock loss but a ponzi scam and a frontrunner in stock picks for their own gain since they take money from the stock companies they are recommending and they also try to act as security advisors by asking you to move your money here and there and how much to move. This is outright fraud and Chris has previous security violations so beware and know that this guy is a liar and a thief. SEC and FBI need to get this guy. This guy is stealing millions.

  • Fu
      29th of Jan, 2014
    0 Votes

    The fact that there are only 2 complaints against Stock Traders Press in the 11 years in business makes me feel very comfortable when doing business with these guys. They don't claim to have 100% winners, they do in fact have 88% winners over 11 years. 135 recommendations, 119 winners, 16 losers. Yes there are companies that wont work out. Unfortunately you guys invested in the few losers they happen to have... FYI.. stock market is risky... I've worked with Dan Varela for over 3 years now. Last year he gave me 10 recommendations total... I took a rather large profit on 9 of them. Just because the 2 of you guys had a few losing picks, isn't a good enough reason to bash the guys over there.. thats not fair. I also don't see how you claim scam? how? They have never touched my money, I do my own trading. Ive learned from bad experiences with brokers. I ONLY pay them when I want to and its the amount I CHOOSE. Yes, Ive lost money with Dan, but I don't blame anyone but myself. The profits I've taken on their winners far out weigh the losses... These are NYSE and NASDAQ picks... so to the guy claiming ponzi scam must be confused.

  • Pe
      26th of Feb, 2014
    0 Votes

    This must be Chris Casltaldo writing this (Owner of Stock Traders Press) or his brother. Chris gave me all losers to the tune of 6 picks with the average loss being over 95%. That is not a 88% track record of sure picks. That is a scam. He gives biased stock picks where he is also receiving payment form the company he request you to buy. In addition, they want to know how much you are investing, that way they also get to see how much you have to invest and how much they can report to the firm that they are selling their stock and reporting how much you bought. That way they get compensated by the customer buying the service and the company selling the stock. This company is a scam company all the way and whoever wrote this previous article that they are great and 88% sure picks over 11 yrs. is totally false. The advertisement is false. They may also say that they are giving you a pick from wealthmakers or some other provider that they own and in which they are also biased picks and in which they are receiving payments from both sides. I lost around $250, 000 to this company, don't you be taken by there false advertising or their false reports. Believe me it is a scam all the way.

  • Rb
      13th of Mar, 2014
    0 Votes

    So are you all saying that these guys are somehow manipulating NASD, NYSE traded companies for 11 years without getting caught? I'm in 2 of their picks right now, please elaborate. I did profit 57% on (ARUN) a couple weeks ago when they told me to sell. Then they put me into (XRX) Xerox Corp and (PRCP) Perceptron Inc. Which I'm in pretty heavy. Please elaborate how/if they do this so I can either dump it or hold on.

    Thanks

  • Ke
      11th of Apr, 2014
    0 Votes

    For myself the jury is still out on StockTradersPress. Last fall I bought into their services. I am a very small investor, a total of $12000 invested in stocks, some of which are their picks. I am talking a $1000 here or there. So far my small investment has grown to 14000 in 5 months times. But remember that I really haven't lost anything yet because I haven't sold any stocks. Sure this second week of April has been down. I do my own investing, 8 different companies, of which half are their recommendations.
    Myself, I would never invest hundreds of thousands of dollars in something like this. The best approach is to start out small, give it some time, and see where it goes. Investing in stocks are a gamble. Realize that you could loose money too

  • Jv
      23rd of Sep, 2015
    0 Votes

    Kona Barbera aka Kona Jones is currently seriving time for federal drug charges. Google it. He is s a piece of **** imo.
    I hope he also has to answer for all the people he ripped off. I am one of them.

  • Jj
      24th of Sep, 2015
    0 Votes

    Can I just start this off with saying that the only positive review on here is written by fundem. Fundem continues to talk about what a great guy Dan Varela is. Lol what a joke!!! It's bad the only person that is a fan of Dan is himself, because fundem is Dan Varela! What a load of crap! Take a word of advise. Do not trust this company. It's a whole load of liars located in a falling apart shack! If they where so great at their jobs and where actually bringing in profit and money for people then they would not be trying this hard to scam every penny out of you.

  • Cr
      15th of Oct, 2015
    0 Votes

    They are the roaches of Newsletter's

  • Fu
      19th of May, 2016
    0 Votes

    Well he's done... https://www.sec.gov/litigation/litreleases/2016/lr23529.htm

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