Promised Profits, Unexpected Fees
A New York City investor speaks out, feeling very bad after his experience with a stock trading group headed by John Baldeck, which now operates under the name Eminence Capital LTD. After putting in an investor’s initial amount of $75,000 into the group and seeing what seemed to be 200 percent paper profits, he said he was shocked when he was told he had to first pay a commission of more than $30,000 before he could withdraw any funds.
Withholding Withdrawals Raises Red Flags
The investor said he was shocked by the demand for a commission. “They said they were taking it out of each trade,” said the source. “But when I wanted to get out of my level one account there, they wouldn’t let me do it unless I paid in full.” He stated that attempts to refuse a VIP upgrade were ignored. When he arrived at the company’s New York City office, he said no one was there.
Regulatory Concerns
There is a claim regarding trading group SEC registration, but verification does not disclose much. Furthermore, John Baldeck has been banned from any business activity by FINRA, which raises questions about how he continues to operate. Still, his assistant “Sabrina” is in contact with clients.
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