i need help....QUICK!!

manutd121

hi, i got a call from a guy called 'chris flynn' from a company called 'bright horizon securities' who was trying to sell me shares in a company called eldora gold resources (er5),he told me they were buying in bulk and that i could get them at a discounted price €1.20 instead of €1.59 which is now the market value of them so it would result in a instant profit.to make a long story short, after he used very pushy tactics he got me to agree to go on a recorded line so that we would have a verbal contract in which we agreed that i would make payment for the trade within three days. however contact broke down and he didnt contact me again until today (which is a week later) useing many excuses as to why he couldnt contact me, ad he wanted me to make payment today, however i manged to buy myself an extra week so hes now going to contact me next thursday. the more i looked in to this the more i think its a scam and im now fully convinced that it is a scam. what im wondering is the fact we have a verbal contract over the phone which was so 'recorded' must i sent him the money?even though part of the agreement was that i would pay within three days and due to his faults that was not possible. i would really appreicated any feedback on this as i dont know legally what im bound to however i really dont want to go through with this. thanks in advance for any feedback. p.s. iv tryed to research and get information online about bright horizon securities however suprise suprise i couldnt not find anything.

Arciphel

Total scam, don't hand over a cent. P.s. My cousin in Nigeria has a business proposition you might be interested in, can he give you a ring?

;-)

manutd121

ya i know that now its just when he rings he will probaly start going on with 'well we will bring you to court' and 'you have agreed to a contract' etc. so i was just wondering is there anything that he could do and if it had happened to anyone else?ya sure tell him give me a call lol

Pablo Sanchez

Eldora gold is legit but this sounds like a scam, or possibly a scamola.

http://www.eldoragoldresources.com/?page_id=92

gizmo555

You do not have to buy these shares, but if you are worried, ring the National Consumer Agency's helpline on Monday on (01) 402 5555.

This is a common scam described on their website [url]www.itsyourmoney.ie:[/url]

http://www.itsyourmoney.ie/index.jsp?p=662&n=810&a=1376

Pablo Sanchez

The sales technique is reminiscant of the movie 'Boiler Room'.

http://www.imdb.com/title/tt0181984/

Arciphel

It's a classic pump 'n' dump.

coylemj

I'm not sure what the exact rules are but I suspect the gap of a week was a tactic to allow the 'cooling off' period to expire. Can't see any other reason why he would ignore a willing mug client for a week.

If he's cold calling people selling financial products he needs to be registered with the Central Bank as a Financial Service Provider. Tell him you'd like to verify his registration with the Financial Regulator so you'd like the full name of his company and you want to check them on the Financial Regulator website here.....

http://registers.financialregulator.ie/

I don't think he'll hang on the line for too long while you're checking him out.

Eldorado is quoted in Frankfurt but the last deal was Sept. 2nd and the total value of shares transacted on that day was 550. Since August 1st only 25,800 shares have changed hands. If you look at the historical prices on http://finance.yahoo.com/ it is clearly a stock whose value is being pumped up by tiny transactions so the quoted price is an illusion.

I suspect a small bunch of conspirators investors are bouncing small blocks of shares backwards and forwards between them at progressively higher prices, then they point at this appreciation to lure in small investors at which stage they have the punter's cash and the punters are left holding worthless shares.

manutd121

thanks for the replys guys. and coylemj thanks for all that info he claimed that the email address i gave was incorrect which is a possiblity nd i had a missed call from him also so he may have been trying to contact me however i could not ring him back because he gave me an incorrect number. iv checked the register and theres no sign of them as far as i can see. but am i obliged to purchese these share now?as in could they bring me to court?iv done further research into this and a lot of people have been cold called like this and have bought share in eldora gold only to not be able to sell them when then wanted to and if you look in detail into the eldora gold website it appers to be fake as in its not a real company at all they seemed to have copyed and pasted a lot of stuff from other gold company websites.so its definitly dodgy

ch750536

Do what pretty much every company in the world does, let him eat silence. If he commences court proceedingm whoopeee for him, worry about it then.

coylemj

manutd121 wrote: »

i had a missed call from him also so he may have been trying to contact me however i could not ring him back because he gave me an incorrect number

If you got a missed call and it was from him, was the number visible or are you just assuming it was him? I assume that if you had to ask him for a number then he is using a blocked number when he calls you so you can't see his number. Tell him you are not prepared to deal with someone who is hiding behind a blocked number. Tell him you have discussed the 'contract' with your solicitor and he (your solicitor) would like to know the exact name of the company and it's registered address so he can verify that they are authorised to conduct business in Ireland as a Financial Service Provider.

You really need to put the wind up this guy to get him off your back, otherwise he will try all sorts of empty threats. Don't express any opinion as to the value of the shares he is selling and don't get into the validity of the 'contract'. If he starts getting aggressive just tell him to piss off because he's operating a scam and you'll see him in court which by the way will never happen and terminate the call.

At the end of the day nobody can force you to buy shares that are worthless and he is breaking the rules of every regulatory authority by cold calling you to buy shares in a company you know nothing about.

Isoaxe

ch750536 wrote: »

If he commences court proceedingm whoopeee for him, worry about it then.

There's not a chance in hell that he'll sue. He's just using bullying tactics and hollow threats in the hope that manutd will cave. Legally, he doesn't have a leg to stand on.