Luxman Trading Concepts reviews and complaints

Luxman Trading concepts is a total scam! I can't believe I lost a quarter of my savings to those guys!

Unfortunately, I've found myself in the similar position of many of the same folks trying to recoup their non-performance refund. I was sold the Gamma emini trading system by Rich Andrews in Dec '08 which started trading in Jan '09. I've been waiting for a refund since Sep '09. I've had multiple conversations w/ James Kennedy from their Accounting Dep't in which he ensures me that everyone will get their refund but that it will take a little more time due the volume of people looking for refunds. Essentially most messages are not returned. Foremost Trading, the broker contracted by Luxman to trade the Gamma System, says that they are aware of the refund issues but have been led to believe that everyone has received their refunds albeit late. Foremost, who I've had multiple dealings with, appears to be reputable and claims that they have regular dealings w/ representatives from Luxman, which hopefully lends some creedence to Luxman still operating w/ the intent of honoring refunds.

Does anyone know whats happening with Luxman? as there doesn't seem to be anything going on.
Dek

I want my $5, 000 back.On nov 14th, 2008 I was contacted by phone from a man named Alan Souza, who works for Luxman Trading Concepts Inc.He began to tell me of the incredible new product called "S & P e-mini trading system".
He went on to explain how the the system makes money in the commodities market whether the market goes up or down.It was all about timing the market and that is what this program does.He diricted me to a web page that showed their record of profits for their customers.Impressive.Alan told me that it costs $6, 000 to join and then I would need another $2, 500 to fund the program.
I informed him that I did not have that kind of money.Alan went on to explain that I could do it on a credit card.I told him that I had several credit cards, but none of them had that amount available on them.So I spread the amount of $4, 000 over several cards.The remaining $2, 000 would be paid latter in the month.A week latter Alan called and told me that if I could come up with
$1, 000 he would waive the other $1, 000 for a total cost of $5, 000.What a deal! So I did it with borrowed money.I told him it would be a while before I could come up with the other $2, 500 to fund the account to start trading.He said no problem and assured me of their 6 month refund policy if not satisfied.In Feb.2009, I lost my Job.I called Jay Hebert of Pacific One Group (the broker for the trading acount [protected])to inform him that I still
did not have the money to fund my account.He said he understood and said I was missing out on some great profits.So I tried real hard to come up with the $2, 500.By May, I was still unemployed with a dependent child of 5 and tried to get my refund of $5, 000 from Luxman Trading Concepts([protected]).I have called and left messages for James Kennedy(the boss)every day for two weeks
with no response.On July 7th, when I threatened them will legal action, Mr. Kennedy finally returned my call.He informed that I would receive my refund by July 21st.It is now Aug.5th
and I have still received no money back.Please Help!
Sincerely, David Crane

I too was defrauded by Luxman...No refund, after repeated letters and complaints to all applicable agencies. How do they stay in business. I would also be willing to pay legal expenses, if it would dlo any good. Bruce

Dear Victims of Luxman Trading Concepts,
I have still not received my full refund and I have been trying for 12 months.I have been in contact with the California State Attorney Generals Office.We all need to group together and file individual complaints with their offices' online form.(takes 10 minutes).Just Google California State Attorney General Complaint.The officer that I talked to said they have only had a few complaints against Luxman Trading Concepts, but if they start to get a few more they will have to look in to it.SO GET THOSE COMPLAINTS FILED! I have, and I got half my money back so far.Even if we don't get our money back, let's put these S.O.B.'s where they belong.JAIL!Sincerely, David Crane

I have heard that they have already changed their name to Cooper Trading. Not sure if accurate but certainly possible.

James Kennedy lies with every breath.

These guys are ridiculous. For starters, the program recently lost a lot of people a lot of money. Then, they refuse to pay the refund. I managed to get my money back, but it took A LOT of calling, arm twisting, and patience. Sounds like I'm luckier than most. Try to issue a chargeback on your credit card- many companies can extract the money from that this way. The promise that they'll send the check is a lie, they're just stalling for time. I suggest you act quick- these joker scam artists will not be around for long- they should be bankrupt and out of business soon.

I suspect they are in a tailspin- too many people asking for their money back at once. I will be surprised if they exist in 6 months. Stay away.

Another victim on another site tells that they are now Cooper Trading. They were Black Box before they became Luxman. Ripoff artists extraordinare!

Well I hate to say it but there is not one legitament auto trading system out there. I should know because I've tried a few and everyone says they are not like the others. THEY HONOR ALL REFUNDS! Luxman was the biggest of these that went on and on about how they always pay the refunds back. Also they went on and on about how they are listed with this or that regulatory agency and they had to be on the up and up. I looked these people up and did not see any complaints here on the net back in February 09'. Some of you people say you got into their scam back in mid 08' but are just now putting something on the net about it.