SOT Case Details
On the 29th March I was contacted by an advanced member of SOT who was very angry with becomming another victim of their scam. Because this member was living in the UNITED STATES they were able to pursue a case in the small claims court against SOT. This member has been progressing a legal case through the California Small Claims court during the last 6 months and did not want to have details of the case published until they had successfully won the case and received their money back.
On the 22 August 2011 at 10.30am PST the first hearing was scheduled and JJ failed to show up at court. Unfortunately the court did not have evidence that JJ was served notice. Accordingly the court re-scheduled the hearing for the 14 September 2011 at 10.30 am.
This second hearing was also re-scheduled after it was revealved that JJ did not personally receive the paper to appear in court but had somebody else accept the paper. The hearing was re-scheduled once more to be heard on the 19 October 2011.
At the hearing on 19th October JJ failed to show up and the judge requested a number of pieces of evidence to be brought back in front of him.
On the 7th of November 2011 the requested evidence was brought before the judge and the case was reviewed.
On the 11 December 2011 the case against SOT was won, a judgement was received and ruled in favour of the plantiff and granted for the membership fees to be reclaimed against the defendant(JJ & SOT).
SOT was now granted the right to appeal the case judgement. No appeal or response was ever received.
As you can see the legal process has been lengthy but is now complete.
This case paves the way for all ex-members based in the UNITED STATES to pursue a refund of their membership fees. I can provide further details to any ex-member who wants to pursue a claim against SOT, please contact me via email at lloyd.hopkins@interlinksoftware.com.
To FILE your case and SERVE the Defendant, the price for California is $199.95 which covers court filing fees and defendant(s) serving fees. These court filing fees are added to your complaint against the defendant(s).
Cases can be submitted against SOT here : http://www.civiltree.com/small_claimez/wiz_1-4.php?CA
Wednesday, 22 February 2012
Wednesday, 25 January 2012
scambook.com
Article now on scambook.com - http://www.scambook.com/report/view/63870/schooloftrade.com-False-Advertising-for-3700.00-on-12-01-2009
United Business Servicing - www.schooloftrade.com (SOT) & Joseph James
Now in the top 3 viewed articles for investment scams on pissedconsumer.com with 3468 hits United Business Servicing - www.schooloftrade.com (SOT) & Joseph James
Tuesday, 30 August 2011
LATEST SUMMARY OF HOW SOT USES FALSIFICATION OF RESULTS
Looking at the falsification of results, I believe JJ attempts to lure trial members to join his room under a false pretence. Firstly JJ still maintains that he actually trades with real money using a live account. We can see evidence of this fact in a recent internet post by JJ himself – refer to the 3rd sentence in the reply by school of trade in this link - http://www.ripoffreport.com/brokerage-companies/schooloftrade-com-jo/schooloftrade-com-joseph-james-59b7f.htm#
I of course was able to prove that JJ was in fact lying and traded using a simulator (SIM mode). This is an important point as it is the basis on which JJ is able to falsify his profit results which are published on a daily basis.
Because JJ trades in simulation mode he is able to pick and choose which of his trades he reveals as winners and which he hides from view because they are losers. The net result is a false balance sheet populated with a large percentage of winning trades and a small percentage of losing trades thrown in to try and make things look realistic.
This balance sheet shows huge profits and is maintained manually by JJ. He uses it as his major selling tool to lure the unsuspecting prospect to part with their $ under the believe that they will earn their membership fee back in a matter of days.
JJ has been asked many times to clear his name and provide a real statement of his trades in the form of a broker statement – HE NEVER HAS.
JJ has been asked many times to show his Ninja Trader performance report after a days trading to verify which trades he actually took – HE NEVER HAS.
As a small aside point JJ also attempts to justify his $3600 lifetime membership fee by telling his prospects that he will give them free trading software, this is more deception, the free software is provided by Ninja Trader (www.ninjatrader.com) and is available to anyone for free at their website, the software is absolutely nothing to do with SOT but JJ represents it as being given to new members for free by SOT as part of their new membership.
I of course was able to prove that JJ was in fact lying and traded using a simulator (SIM mode). This is an important point as it is the basis on which JJ is able to falsify his profit results which are published on a daily basis.
Because JJ trades in simulation mode he is able to pick and choose which of his trades he reveals as winners and which he hides from view because they are losers. The net result is a false balance sheet populated with a large percentage of winning trades and a small percentage of losing trades thrown in to try and make things look realistic.
This balance sheet shows huge profits and is maintained manually by JJ. He uses it as his major selling tool to lure the unsuspecting prospect to part with their $ under the believe that they will earn their membership fee back in a matter of days.
JJ has been asked many times to clear his name and provide a real statement of his trades in the form of a broker statement – HE NEVER HAS.
JJ has been asked many times to show his Ninja Trader performance report after a days trading to verify which trades he actually took – HE NEVER HAS.
As a small aside point JJ also attempts to justify his $3600 lifetime membership fee by telling his prospects that he will give them free trading software, this is more deception, the free software is provided by Ninja Trader (www.ninjatrader.com) and is available to anyone for free at their website, the software is absolutely nothing to do with SOT but JJ represents it as being given to new members for free by SOT as part of their new membership.
Tuesday, 19 April 2011
New Article on the RippOff report about JJ the conman
Take a look at the report
http://www.ripoffreport.com/brokerage-companies/schooloftrade-com-jo/schooloftrade-com-joseph-james-59b7f.htm
Please consider adding to the report with your own story, I think anyone based in the US should consider taking JJ in front of Judge Alex so we can get this conman brought to justice
http://www.ripoffreport.com/brokerage-companies/schooloftrade-com-jo/schooloftrade-com-joseph-james-59b7f.htm
Please consider adding to the report with your own story, I think anyone based in the US should consider taking JJ in front of Judge Alex so we can get this conman brought to justice
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