IS James Altucher a con man? Here's my experience with his scam!
Money Morning.
Money Morning is a website with financial news which i receive daily in my mailbox.
It is unwanted mail, but occasionally i overflow the articles, and sometimes I read the ones in which I am interested.
28 of march 2018, Money Morning, I came across this add/video from James Altucher:
Money Morning:
Video: The Hottest IPO in Hystory!
This typical American nervbreaking and annoying salestalk video runs completely around a mysterious IPO that will exceed the success of the Amazons and the Googles off the 90’s.
If you subscribe to his PRE-IPO prospectus, you will get all the info on how you can participate in this outrageous once in a lifetime new IPO chance!!
According to Altucher, this new IPO has the potential to grow X times faster than Amazone, Google , Facebook etc. did in their early days, so imense profits are projected for the early birds! You need to react fast!
With his Silicon Valley connections, he offers you the opportunity to sign in at the very beginning of this new IPO!! A once in a liftime chance to receive a ticket on the first row!!!
On top of this PRE-IPO opportunity, you would also get info about a small and new biotech company, which, like the PRE-IPO, has the potential to shoot your portfolio to the moon and back!!
You will get all this info “for free” you just need to sign in to his PRE-IPO Prospectus!!
He’s underlaying his statements with headliners from Business Insider, Forbes, The Guardian etc. He’s using charts, graphics and lots of figures and percentages to dazzle your head.
I did some homework and googled James Altucher and some of the headliners, they all refer to the Pittsburg Project and Uber.
The Pittsburg Project and Uber.
Uber would be engaged in refining and marketing of self-driving cars. Altucher can make it happen that the common man can participate for the first time in a PRE-IPO sales of a gigantic success. Of course places are limited to about 945 investors!!
James made a document called The Pre-IPO Prospectus. He claimes that this document contains all the details of the pre-IPO strategy that will make you a fortune.
He developed a strategy that will allow the little guy to turn the average retirement account into $588,000 or more…In the next 12 months alone!!
Anyone can participate…All that’s required is that you act fast BEFORE this company goes public!
Some of his quotes:
“This Is Like Being Able to Go Back in Time and Invest When Everyone Else Thought Amazon Was “Just a Bookstore”
“Everything You Need to Know Is Inside The Pre-IPO Prospectus”
“You Can Get Started Today With Your FREE Pre-IPO Prospectus”
As one of his richest friends love to say: “Money loves speed.”
So i did act fast and subscribed myself!
Subscribing to his PRE-IPO Prospectus.
All is for free. I don’t know how many times he said this in his video, but on the end you got to pay, everybody knows that, the only question is how much!
At the end of his video he lists up all the free documents you will receive ones you sign up for The PRE-IPO Prospectus.
All this documents together have a value of $599…
BUT, James asked his publisher to lower down the price to a level that would barely cover his publishing costs to a whopping $49.
So I thought to myself for $49 i’m wondering what this guy has to offer. I signed in and we'll see.
His nervbreaking and annoying salestalk goes further.
$49 becomes $75. You feel that you get scammed. I subscribe and payed $75 with my credit card.
But it does not stop, when the financial side is completed, and when i’ve payed $75, Altucher comes with another proposal.
You would better choose the best deal for which you’ll receive more value for your money. This rate is, however, $250!
If you choose this option, you'll get your previously deposit of $75 paid back, and you need to make a new deposit of $250 to his account. So I’ve payed again $250 with my credit card.
Just before you think the scam is over, he throws another proposal on the table, for $1450 (i don't know anymore if this was the correct figure, but anyway it was close to this figure) you will become a lifetime member of his community and you’ll receive all his rubbish documents!
I have decided not to pay this $1450, this scam was working on my nerves for already much to long.
Link to his paper version (text) of the PRE-IPO Prospectus video:
Once you are registered.
Once you are registered, you’ll get an idea about the size of this scam. You’ll receive immediately all the reports that he promised in his video, no comment about that.
But the contents are worthless. A laundry list of sales pitches, in no single document you will find the information about the PRE-IPO and the new Biotech company!
You would expect that to be found in his PRE-IPO Prospectus, but unfortunately, he just returns to the same bullshit as in his video!!
The first week of your registration you will receive everyday an email in which Altucher tells you about his life. How he spent all his money on drugs and gambling and how successful he is now again!!
These 5 daily reports works perfectly on your nerves. Because, first of all I didn’t pay $250 for Altucher’s biography. Second, he fucked you up with pushing to sign in because you needed to act fast BEFORE this company goes public!
So you would like to go ASAP into this IPO, you don’t want to wait a minute longer, but Altucher will hold you on a leach for 5 more days!
I’ve send 4 mails to ask the meaning of this shit! No answer, no communication at all.
I’ve tryed to reach them on 3 diffrent mail addresses, no reply!!
The webinar.
On the third day, you will receive a mail with the invitation to register for a webinar that will go on on friday.
In his webinar he will reveal a great “4 word magic secret”, which will bring each crypto investor huge amounts of money/succes.
I thought probably he will also reveal the road to the PRE-IPO! So the only thing you can do is stay calm and wait until friday.
The webinar’s starting at 1 pm CET, 18:00 hours my time. I took a day off from work to be sure not to miss the webinar.
And guess what, his stupid sales talk goes on for more than an hour.
He set up a kind of interview scene with a woman/interviewer who’s obvious working for his team.
It needed to look as a live interview, but the webinar is edited.
Then there’s the moment where he’s ready to reveal the big “4 word magic secret” for succes:
– LIMITED SUPLY
– LIMITLESS DEMAND
I went nuts, WTF creep, you kept me hooked on a leach for more than a week to tell me that a limited suply coin with a world problem solving technology, have the possibility to create a limitless demand!! You don’t have to pay $250 or $1450 to get this info, it’s free to find on the internet, every crypto youtuber, every trader knows this!!
During this week, going through his mails and videos, you’ll receive more documents and videos of his so called “money making systems”. All courses are to pay extra, starting from a whopping $2000 to a couple of thousands of dollars more. Insane!!
So i have payed $250 just to enter to Altucher’s community. I don’t know if you’ll be treated the same way wheter you paid only $250 or $1450, or when you bought one of his money making systems for a few thousands dollars.
The point is, they just want to take your money, and when you’re asking for the wrong questions, don’t expect an answer!!
We are now almost a month further on and I still didn’ receive info on the PRE-IPO and biotech sign in. I still receive the daily emails with his bullschitt sales pitches.
I don’t know wether his other systems are valuable or not because I don’t want to pay thousands of dollars for it.
I've been ripped off with my $250 investment, that will be already enough money throwned away, isn’t it?!
My conclusion.
Save yourself from nervbreaking situations. Stay away as far as possible from this guy, unless you want to make this con man richer and you want to spend a couple of thousands of dollars for baked air.
drRex