Blog : "Stock Picking Robot" - Concerns
by Peter Leeds on February 5th, 2008
Concerns about DoublingStocks.com
We have received numerous questions and complaints about a web site called Doubling Stocks (DoublingStocks.com). You have probably seen advertisements for their "robot" Marl that picks penny stocks.
We decided to conduct our own investigation on behalf of our subscribers. This article explains our findings.
We also indicate several ways you can take action if you feel unhappy in your dealings with them.
POKER playing robot:
Their previous web site (now suspended) was called www.PokerBobby.com. There they claimed to use a "robot" to make money for you by playing online poker. Much of the same sales copy was used in DoublingStocks.com.
Click to see Poker Bobby for yourself.
They take money from companies their "robot" highlights:
The sales copy claims that they use a "robot" to make stock picks. However, they reveal in their disclaimer that they are paid by the penny stocks they select.
Click "earnings disclaimer" link at bottom of http://doublingstocks.com/index-line3.php
Here is an excerpt:
Doublingstocks was compensated two thousand five hundred dollars for highlighting LLSR
Doublingstocks was compensated five thousand dollars for highlighting DHNA to our members....
... and so on.
They used the now defunct EquityPromoter.com to take money from companies, and then promote those companies to their subscribers.
Click to see Equity Promoter for yourself.
Incorrect Phone Number:
They provide the phone number: 641-715-3900 (Extension: 5737152#) This is not a legitimate working number.
Incorrect Address:
They provide the address (and photo) of their office as:
"93 S. Jackson Street #56595, Seattle, WASHINGTON 98104-2818, UNITED STATES"
We called the Seattle Department of Planning and Development, and King County Assessments (206.296.7300) who tracks all buildings in Seattle. They both assured us that there was no 93 S. Jackson Street.
Incorrect Address #2:
They claim their office is, "...right across from City Hall and exactly opposite the Public Library."
The make the exact same claim on several sister sites, but provide different cities and addresses.
Copyright Infringement:
They made an exact copy of Understanding Penny Stocks by Peter Leeds, changed the author's name (my name) and website address, and sold the book as their own.
This copyright infringement has since been rectified.
Documented Fraud and Abuse:
Here are some additional links to information about the marketing practices being used by DoublingStocks.com and their sister sites:
http://www.startupaide.com/Marl-Doubling-Stocks-Scam.html
http://skeltoac.com/2007/11/27/marl-the-stock-robot-scam/
http://www.onlinetradersforum.com/showthread.php?t=14607
Known Sister Pages:
Due in part to their large affiliate network, they have affiliation with dozens and dozens of sites. Some of these include:
wealthymarketer.com
equitypromoter.com (where companies would pay them to be promoted to their subscribers by the "robot")
doublingstocks.net
doublingstocks.com
doublingstocks2008.com
federalreviews.com
many others...
Take Action:
In the event that you feel unhappy with your dealings with Doubling Stocks, we suggest you do BOTH of the following:
1. Request refund. If not given refund, contact your credit card company and request a chargeback. You can refer your Credit Card company to this article if necessary.
2. E-mail us with your name, and full contact information (even if you aren't a Peter Leeds subscriber). Provide a summary of your dealings with DoublingStocks.com.
We would be happy to disseminate your story to some or all of the following regulatory bodies on your behalf:
U.S. Securities and Exchange Commission (Internet Fraud Department)
UK Securities and Exchange Commission
Securities and Exchange Commission International Cooperative Organization
Google, Yahoo, and MSN Search Marketing Departments
You are reading this old blog entry because we still like to reference it. :-)
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