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Kim Mangalindan, Facebook Freedom Challenge Group (legal question - need help)
I have a legal question and need a desperate help, I agreed to a Mentor for a year membership of $--K/month on mentoring and now I figured that he is just hustling the group of his students, so I bailed out after Three months. Now he is threatening to sue me and garnish the rest of amount on my income and property. He claimed to be really rich and his group can move the market and giving directions where the market (ES mini) will do, and I start noticing he got images/pictures trades that is fake or scripted when it is all shown as making money (so basically SIM trade and images it as his live trades). I try to follow it in SIM to copy and practice and its impossible to follow all his winning. Does any traders got this type of experience, want to know, how can I protect myself from him in the court just in case. I only agreed on his website and leave my Credit Card in the file for monthly due, CC is now closed and I am only trading since last March when Covid-19 starts. Thank you for any advice, please help me...
I'm not a lawyer, and I'm not giving you advice. But I do have some questions:
Have you told the mentor that you believe his conduct amounts to violations of SEC and other laws and regulations? (I'm assuming this is a U.S. situation.). And if you did, has he dropped the issue like a hot potato?
Have you considered the possibility that a criminal would not really want to go to court and expose their criminal activities?
This is not legal advice, but from my personal experience, if you agree to recurring CC charges with any business entity, closing your CC account will not stop those recurring charges because they will automatically roll over to your new CC. The only way to stop recurring CC charges is if the business entity agrees to stop them. The recurring charges *may* stop if you close you CC account and don't get a new CC from the same financial institution, but not sure about that.
Never... ever... allow a business entity to make recurring charges to your CC unless they are well respected and highly trusted.
As for them initiating a lawsuit against you, scammers don't go to those extremes because the last thing they want is to end up in a court of law!
Thanks for all the advised, I told him initially that I will file a complaint to SEC (cause I don't think, what his doing is right) if he make a collection out of me and ask him to leave me alone in peace and I will not do anything unless he did something, but he threatened me that he got high class lawyers on his payrolls. Anyways we will see what will happen. Thanks...
1. Did you sign any contract regarding your membership?
2. If he's so high up, why does he need your membership fee so desperately that he would sue you and make your life miserable?
3. Lawyers are expensive. Good, reputable lawyers are upwards of $500 hourly or more in SF. His legal fees would likely cost more than your membership fees. He's bluffing.
4. I signed up for a course with SMB Capital. It was not the right course for me. I told them so. They refunded me. Because of their highly ethical behavior, I would not hesitate to take the right course with them in the future and would definitely recommend them to others.
5. A good businessperson works things out when there is troubleshooting. This person sounds like a con. I don't know any successful businessperson who would lose their cool like that.
6. If he continues to unreasonably threaten you, call the cops, SEC, write online reviews, etc.
7. Anyone who brags about their so-called connections is a childish social climber IMO.
Its just on the internet sign-in, I don't know if that is legal, I started to smell fishy when one of his old student is not learning and ask for a help to me, wherein he is year ahead and almost completed on his mentoring... it sad that their is lot lots of people trying to screw people even in times like this... I start thinking to learn how to trade when this Virus arrived knowing that job will be scares and pretty soon and we all need a back-up of income. I don't want to mention names, unless he did something ugly... I will keep everybody posted, cause I don't want him victims more innocent people.
This is why these vendors get away with this crap! You should post a review about him, publicly, so at least it will help someone else know what they are getting into prior to making any purchase.
