3. Peter Newmann Investment Club Scam

Peter Newmann Investment Club Scam

sfkelley75
sfkelley75   |     |   6 posts since 2010

I am not sure which site I found Peter Newmann Investment Club, but it was a scam while it lasted.  If anyone invested their money with PNI then you need to contact the authorities.  I registered complaints with my state's attorney general's office, the FBI, and the SEC.  I even got information from the bank that the company does business with and found out some information I wish I had k nown before I invested. 

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LUBA
LUBA   |     |   4 posts since 2010
Hello.I too think that it correctly, it is necessary to collect more voices.
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LUBA
LUBA   |     |   4 posts since 2010
Friends who has problem Peter Newmann Investment Club on write here.
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aschi
aschi   |     |   8 posts since 2010
Unfortunately, I opened an a/c with them 2 mths ago. Now I can't access to their website anymore!  They are running away with my money!!!  SFKelly75, could you please tell me more what to do?  Did you get back yr money by any chance?
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sfkelley75
sfkelley75   |     |   6 posts since 2010
I called the SEC, the FBI, and the TX AG office.  All basically said that the more people that report them the more likely they will investigate.  I don't know if you know this, but on the website it said that the offices were in Bear, Delaware and Switzerland.  My check I sent to them was cashed at a Chase Bank in Illinois.  I managed to get the info on the account and I called the local police which was worthless.  Hopefully you didn't invest a huge sum of money with them and if I hear anything I will post it here.  Good Luck.

Also if you have accounts on sites like this spread the word so maybe one day these thugs will get caught.
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mike98312
mike98312   |     |   6 posts since 2010
Im giving them ample time to respond to my letter I wrote as I was not able to get through on their phone number. This same problem happened repeatedly for the last three months so I'm a little agitated but usually around the end of the month and start of the next month you can view your accounts online. Usually you will see a page not found until the end of the month as unsettling as that may seem but im usually an optimists and know that things happen but for these intervals is highly irregular. I used to have twa and can tell you their site did everything you could imagine as far as breaking down but you usually would be able to log in every 3 days at least. The fact that pniclub.com is not answering their phones and their only way of contact is their website seems shifty. In the letter I sent I asked for a more reliable number, website and email because of the failure to acuurately maintain their site. I sent the letter on wednesday so I hope for a reply sometime soon in the future but what really scares me is that they have not sent me a statement for this month as they have in the past. I wouldn't get the worries if they would keep me more accurately informed on whats going on. I only opened an account with them because they were in forbes and were recommended I don't think a public company like this can just run off with people's money especially when their advertisements are everywhere and they are in the spotlight. I mean if you invested in mcdonald's so many people would be outraged to know that their money was embezzled that the owners would be afraid to leave the house. I hope that they are still legit but im not crossing my fingers especially after seeing Blanqovich and Madoff on t.v. recently. Well if any of you have received any information please enlighten me on what to do as im in the dark until the end of the month I can give them that respect but I suffer from an anxiety disorder as it is I really could use some stability in my life. 

 

 

 
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sfkelley75
sfkelley75   |     |   6 posts since 2010
Mike 98312,

Hopefully that will work.  FYI, on there site it said that they had been in business since the mid 1990's, but PNI's website had only been up since 2008.  Should have been red flag #1.  #2 was when I made my initial deposit I had to make the check out to Litauto Trading Inc and not PNI Club.  Do you have their Delaware address as I have only an address in Illinois as that is where my check ended up at.  I checked with Chase Bank and the account number that was on the back of the check was for an apartment address in Palos Hills, IL.  If they respond to you please post it to this thread so that the rest of us can contact them as they are in the spotlight with several federal and state agencies.
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aschi
aschi   |     |   8 posts since 2010
Hi Mike 98312,

I hope what you said is true, fingers crossed. I just opened the account end of June. My check was to Litauto Trading Inc not PNI Club.  I should have suspected something!!!  But because I read the articles abt them in Forbes, therefore I thought it was safe.  I will go after Forbes if they are found to be a scammer!

 I started to suspect when I don't see my account statement, then I tried to log in to their website which I used to be able to see in July and saw my money there... 

Then I stumbled onto sfkelley75 msg on this website.  Now I am very worried.  Thanks sfkelly75 for the instruction. I will give them couple of days till end of next week for their reply.

I sent an email to a guy who is assigned to be my consultant -Gregory Spielman on Aug 19, but I received email delivery failured message.  I tried to call their number listed as +1 (877) 778-6983 but it was automatically directed to machine voicemail.

I will also post any updates to this thread if I have any news from them. Let's hope this is just some problems with their website and everything will be ok soon. 

 

 
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sfkelley75
sfkelley75   |     |   6 posts since 2010
To all,

I wouldn't wait for a reply from them.  Look at it this way.  They should have informed everyone if they were shutting down or changing their website.  Second, I wonder if they were even registered with the SEC as I couldn't find anything on them.  I am really glad that I didn't invest any more than I did with them. 
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aschi
aschi   |     |   8 posts since 2010
Make sense!  I will file a report today! 
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aschi
aschi   |     |   8 posts since 2010
Hi SFKelly75 and All,

 

I found this link http://www.hyipnewsreviews.com/2010/04/peter-newmann-investment-club-lyip.html

which has their US and Switzerland's address.  I tried to call their Switzerland's office. Didn't work!!!

I could still see the Forbes Magazine's article about PNICLUB last week but I can't see it anymore!!  Damn, I was away on my trip and I didn't think of printing it!!!!  Anyone has this article?

 
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aschi
aschi   |     |   8 posts since 2010
There's also a review abt PNICLUB - SCAM http://www.hyipnewsreviews.com/2010/08/peter-newman-clubpniclubcom-scam-report.html#comment-form
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sfkelley75
sfkelley75   |     |   6 posts since 2010
I saw the hyipnewsreviews.com article about PNI.  Well at least it wasn't just me that got scammed.  Let's get the word out as the way the SEC and AG's offices work is that they will launch an investigation if enough complaints are received about this.  Does anyone have the broker/ brokerage firm that PNI used?  If so then we can register a complaint against the broker also.  Litauto Trading Inc. has an address of 11265 Moraine Apt#15, Palos Hills, IL 60465.  Don't bother with calling the police for they were unhelpful.  Their phone number is 708-268-8162 and Richard is the name on the voicemail I have received.  Maybe he will answer if someone else will call.  Another thing someone could do is call a nearby business at their address in Bear, DE and see if their office is still open. 
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aschi
aschi   |     |   8 posts since 2010
I only have savings account with them.  I will call the number.  Hopefully someone will answer the phone. 
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aschi
aschi   |     |   8 posts since 2010
called several numbers, either voicemail or phone line doesn't work anymore. When I searched Litauto's address: 11265 Moraine Apt#15, Palos Hills, IL 60465, it showed like a cheap condo from Goggle earth!  I called the address at 30 Fox hunt drive (close to PNI's address 26 Fox Hunt Drive), was told it is a shopping complex and that person never heard of this company.  We are so doomed!
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mike98312
mike98312   |     |   6 posts since 2010
I haven't heard anything new from their site or from them. I was able to get this month's interest rates if anyone is interested. I have not called the authorities yet but im sure as soon as their website comes back up there will be huge withdraws.The authorities tend to make things worse and slow things down besides im talking about a company that is owned by the man whom was as popular as Janet Reno in the 90's for investing in equities that were known to be high risk in India and getting caught. The wire adress Litauto I think is legit as I have relatives that have used that address since they began it's just a name. I don't know how long they have had a website but for years they have done things through the mail which is why im not too worried but my anxiety is hitting the roof especially since we all seem to have the same investment advisor and they aren't willing to pay for more employees especially since they cost like 5 dollars a day in the phillipines and brazil and maintenance of their sites would be accurate.
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mike98312
mike98312   |     |   6 posts since 2010
My letter was returned with post office message mailbox expired return to sender whatever that means. As far as the place that receives money being a shopping mall Im pretty sure It's probably the same idea as in the 90's when the same problem arose meaning the owner of the investment firm owned enough businesses in that mall to hust write the mall adress when the sec investigated they found that the mail was being forwarded to another location a brokerage that chose to remain anonymous. The story ends when the investers realized that they had invested in stores like in mutual funds but they weren't industry but rather stores like the dollar store and sam goody and a few health spas. Hopefully this is the same way we'll find out tomorrow.
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aschi
aschi   |     |   8 posts since 2010
Mike98312, sorry to hear that. I shld really consider myself as lucky this time.  While I was searching through the evidence of the check I issued to PNI through my bank a/c, noticed that the check was not cleared.  So I have no money with them. That gave me a big sigh of relieve!

Hope you all can get back yr money soon.
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mike98312
mike98312   |     |   6 posts since 2010
The site is still not up and they are not answering the phones I guess I move onto step 2 which is litigation. I'll keep you informed as to what's going on stay tuned this could get ugly.
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LUBA
LUBA   |     |   4 posts since 2010
PNI had a mail box on rents
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LUBA
LUBA   |     |   4 posts since 2010
http://investpartner.my1.ru/index/peter_newmann_investment_club/0-13
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mike98312
mike98312   |     |   6 posts since 2010
Luba that site refers to a knock off of the pniclub.com website by changing n to m. I got in touch with all the authorities today they told me they would get back to me. Until then no new investments with the Peter Newmann investers club. Well see what happens I have little faith in Washington law enforcement.
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sfkelley75
sfkelley75   |     |   6 posts since 2010
Definitely for sure let me know if anybody finds out something.  The FBI, SEC, and TX AG's office all said that even if they investigate PNI I would not know.  If I want to possibly get my money back then I would probably need to hire an attorney and I really didn't invest enough to warrant paying a lawyer to sue them and possibly get nothing out of it.  If someone does hire an attorney who is interested in a class action then I would consider joining it.
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mike98312
mike98312   |     |   6 posts since 2010
We'll did you file a report with your local authorities yet? If so you can get the ball rolling on a small claims case. Otherwise like you said before hiring a lwayer is best when large sums of money are involved.
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drnkhan
drnkhan   |     |   1 posts since 2010
I deposits $8000 and lost all money. I filed a case with attorney general and police dept. Nothing happened. I lost every thing.
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rachschechter
rachschechter   |     |   1 posts since 2011
I lost my life savings via Mid Investment Group (online).  In their prospectus a company called Litauto Trading registered under the laws of Gibraltar was named as the Fund's manager.  I actually received one check from MID, then had problems connecting with them over the second check.  My funds were also wired to a Chase Bank in IL --- this seems to figure into scam equation.  Also cited was Hoffman & Partners Certified Accountants in Dominica. 

Yesterday I'm functioning normally.  Today I face destitution. 
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