15 years or more ago I invested $ 5000.00 in All Sports Market.com- I recently emailed Chris to find out what my investment was now worth or how to redeem my shares. He said to listen to the "teleconferences" and I would know. So just this past week I emailed asm support and asked for a update on my investment. They told me they couldn't give me the info without proof. I have received emails on a weekly basis trying to get me to invest more. What more proof do they need? I just recently saw Chris on a TV sports show out of NY and he was talking about 790 original investors and an investment of 15 million to get the product to this point. Ya it was a risky investment but now I feel like they are still ripping people off and this is a scam of giant proportions. How can it continue and no SEC involvement? I'll never see my money back. What can I do to shut this down?
ASM fronts as a place to Buy & sell shares of your favorite sports teams in a 24-hour, worldwide marketplace. In November of 2017 a newsletter was sent out stating they wanted to raise money to further advance their business,for marketing and website redesign. Anyone who donates $250 will get 10K credited to their account each time. Later on everyone who want to sell shares that were just purchased to say get another team or simply give the money back are told "we are not allowed". That is against the rules. Nothing was ever signed and it does not state those rules on the website.
The only way money can be earned on this site is to either sell shares or if a NBA,NFL,NHL or MLB is playing. If these teams are not playing,money can not be earned.
This site has been active since 2006,many of claims against Chris Rabalais have been filed. Fake Preferred shares are given to those who contributed $250. They are worthless. The company is using big sports names Los Angeles Lakers, New England Patriots, to promote this business.
This company and everyone involved in it are swindlers and liars. You buy "margin" to use to trade on their market but you will never be able to withdraw your profit. The owner, Chris Rabalais has been sued for fraud and also sued by the SEC. 30 seconds worth of google can find these things out. They deleted and heavily censor their forums. Look on reddit for ASMEunfiltered if you have been a victim of them.
ASM is still trying to take people's money, avoid them.
I deposited around $4000 into ASM over the last 5 years under the promises that I would see a profit and also be able to cash out. The money was used to buy sports stocks issued by ASM. They went up in value and I made a profit on paper but was never able to cash out anything. Constant excuses and delays of claiming we would be liquid soon etc. I know I will never see anything from my investment (I use that term loosely) so if you plan on putting any money into this be warned that you will most likely never see a penny in return. Chris Rabalais is the leader of this group and I feel like I have been completely scammed. I found out that the SEC has now been involved ( https://www.sec.gov/litigation/litreleases/2019/lr24571.htm ) . Extremely disappointed. My advice to you is to find something else much less risky & shady to invest in.
On 8/19/2019, the SEC filed a fraud complaint against Chris Rabalais:
The Securities and Exchange Commission today charged Crystal World Holdings, Inc., The New Sports Economy Institute, and Christopher Paul Rabalais with misleading investors in the unregistered offer and sale of securities of Crystal World to investors in the United States and around the world.
The SEC's Complaint alleges that Rabalais and his alter ego entities, Crystal World and The New Sports Economy Institute, solicited over $1.5 million from retail investors from 2014 through 2019 by misleadingly describing the Crystal World stock as "gifts" offered in exchange for "donations" to The New Sports Economy Institute, a nonprofit entity that Rabalais founded and controlled. According to the Complaint, throughout the fundraising period, Rabalais and his entities further misled investors and prospective investors by repeatedly promising that the Crystal World stock would soon be registered with the SEC, stressing the importance of buying the stock before registration made it valuable. In fact, Rabalais and his entities never took any steps to register the stock and, for much of the fundraising period, did not understand how to achieve such registration.
The Complaint, filed in the U.S. District Court for the District of Columbia, charges the Defendants with violating the registration and antifraud provisions of Sections 5(a), 5(c), 17(a)(2), and 17(a)(3) of the Securities Act of 1933. The SEC seeks permanent and conduct-based injunctions, disgorgement, interest, and civil money penalties.
The SEC's investigation was conducted by Michael Flanagan and Charles Davis, and was supervised by Ivonia Slade. The litigation will be conducted by Patrick Costello and supervised by Frederick Block.
Original here: https://www.sec.gov/litigation/litreleases/2019/lr24571.htm
Link to SEC complaint (pdf) here: https://www.sec.gov/litigation/complaints/2019/comp24571.pdf
The All Sports Market website used to have a community forum. Rabalais shut that down, and AllSportsMarket users created an external reddit thread to discuss ASM. You can find that thread here:
https://www.reddit.com/r/AllSportsMarketGSFE/
If you are considering involving yourself in any way with Chris Rabalais or any of his business concerns, I would strongly advise you spend some time on that reddit thread reading what disillusioned investors have to say about Rabalais and his platform. The charitable in that group characterize Mr. Rabalais as grossly incompetent (The reddit post titled "A Donor's Lament" itemizes Rabalais's abject failures in leadership and decision-making); the rest identify Rabalais as a fraudster who continues to peddle worthless sports shares on a broken market.
About one year ago I "invested" in the "real money market", which in ASM terms means I donated monies to Rabalais's non-profit in exchange for shares on a "pilot" sports stock market that does not allow investors to withdraw their funds. My strong feeling is that Rabalais's promise that somewhere down the road, the "profits" I make in the pilot sports stock market will be transferred to a real sports stock market once ASM creates a relationship with the major sports teams that allows for the establishment of a real sports stock market -- my strong feeling is that that transition will never happen due to the combination of Rabalais's misfeasance and the ponzi elements central to his stock market concept (and again, see the Reddit thread for discussion of that ponzi aspect).
Ultimately, I think Mr. Rabalais will be shut down by the SEC, or the FBI, or the IRS, or some combination of the three, and investors who have funded his operation to the tune of 1.5 million dollars have nothing to show for it. Stay far away!
On 8/19/2019, the SEC filed a fraud complaint against Chris Rabalais:
The Securities and Exchange Commission today charged Crystal World Holdings, Inc., The New Sports Economy Institute, and Christopher Paul Rabalais with misleading investors in the unregistered offer and sale of securities of Crystal World to investors in the United States and around the world.
The SEC's Complaint alleges that Rabalais and his alter ego entities, Crystal World and The New Sports Economy Institute, solicited over $1.5 million from retail investors from 2014 through 2019 by misleadingly describing the Crystal World stock as "gifts" offered in exchange for "donations" to The New Sports Economy Institute, a nonprofit entity that Rabalais founded and controlled. According to the Complaint, throughout the fundraising period, Rabalais and his entities further misled investors and prospective investors by repeatedly promising that the Crystal World stock would soon be registered with the SEC, stressing the importance of buying the stock before registration made it valuable. In fact, Rabalais and his entities never took any steps to register the stock and, for much of the fundraising period, did not understand how to achieve such registration.
The Complaint, filed in the U.S. District Court for the District of Columbia, charges the Defendants with violating the registration and antifraud provisions of Sections 5(a), 5(c), 17(a)(2), and 17(a)(3) of the Securities Act of 1933. The SEC seeks permanent and conduct-based injunctions, disgorgement, interest, and civil money penalties.
The SEC's investigation was conducted by Michael Flanagan and Charles Davis, and was supervised by Ivonia Slade. The litigation will be conducted by Patrick Costello and supervised by Frederick Block.
Original here: https://www.sec.gov/litigation/litreleases/2019/lr24571.htm
Link to SEC complaint (pdf) here: https://www.sec.gov/litigation/complaints/2019/comp24571.pdf
The All Sports Market website used to have a community forum. Rabalais shut that down, and AllSportsMarket users created an external reddit thread to discuss ASM. You can find that thread here:
https://www.reddit.com/r/AllSportsMarketGSFE/
If you are considering involving yourself in any way with Chris Rabalais or any of his business concerns, I would strongly advise you spend some time on that reddit thread reading what disillusioned investors have to say about Rabalais and his platform. The charitable in that group characterize Mr. Rabalais as grossly incompetent (The reddit post titled "A Donor's Lament" itemizes Rabalais's abject failures in leadership and decision-making); the rest identify Rabalais as a fraudster who continues to peddle worthless sports shares on a broken market.
About one year ago I "invested" in the "real money market", which in ASM terms means I donated monies to Rabalais's non-profit in exchange for shares on a "pilot" sports stock market that does not allow investors to withdraw their funds. My strong feeling is that Rabalais's promise that somewhere down the road, the "profits" I make in the pilot sports stock market will be transferred to a real sports stock market once ASM creates a relationship with the major sports teams that allows for the establishment of a real sports stock market -- my strong feeling is that that transition will never happen due to the combination of Rabalais's misfeasance and the ponzi elements central to his stock market concept (and again, see the Reddit thread for discussion of that ponzi aspect).
Ultimately, I think Mr. Rabalais will be shut down by the SEC, or the FBI, or the IRS, or some combination of the three, and investors who have funded his operation to the tune of 1.5 million dollars have nothing to show for it. Stay far away!
AllSportsMarket Reviews
Original investor-$ 5,000.00
15 years or more ago I invested $ 5000.00 in All Sports Market.com- I recently emailed Chris to find out what my investment was now worth or how to redeem my shares. He said to listen to the "teleconferences" and I would know. So just this past week I emailed asm support and asked for a update on my investment. They told me they couldn't give me the info without proof. I have received emails on a weekly basis trying to get me to invest more. What more proof do they need? I just recently saw Chris on a TV sports show out of NY and he was talking about 790 original investors and an investment of 15 million to get the product to this point. Ya it was a risky investment but now I feel like they are still ripping people off and this is a scam of giant proportions. How can it continue and no SEC involvement? I'll never see my money back. What can I do to shut this down?
The SEC is involved now
They're currently being sued by the SEC
ASM fronts as a place to Buy & sell shares of your favorite sports teams in a 24-hour, worldwide marketplace. In November of 2017 a newsletter was sent out stating they wanted to raise money to further advance their business,for marketing and website redesign. Anyone who donates $250 will get 10K credited to their account each time. Later on everyone who want to sell shares that were just purchased to say get another team or simply give the money back are told "we are not allowed". That is against the rules. Nothing was ever signed and it does not state those rules on the website.
The only way money can be earned on this site is to either sell shares or if a NBA,NFL,NHL or MLB is playing. If these teams are not playing,money can not be earned.
This site has been active since 2006,many of claims against Chris Rabalais have been filed. Fake Preferred shares are given to those who contributed $250. They are worthless. The company is using big sports names Los Angeles Lakers, New England Patriots, to promote this business.
ASM is a Scam - Stay Away
This company and everyone involved in it are swindlers and liars. You buy "margin" to use to trade on their market but you will never be able to withdraw your profit. The owner, Chris Rabalais has been sued for fraud and also sued by the SEC. 30 seconds worth of google can find these things out. They deleted and heavily censor their forums. Look on reddit for ASMEunfiltered if you have been a victim of them.
ASM is still trying to take people's money, avoid them.
I deposited around $4000 into ASM over the last 5 years under the promises that I would see a profit and also be able to cash out. The money was used to buy sports stocks issued by ASM. They went up in value and I made a profit on paper but was never able to cash out anything. Constant excuses and delays of claiming we would be liquid soon etc. I know I will never see anything from my investment (I use that term loosely) so if you plan on putting any money into this be warned that you will most likely never see a penny in return. Chris Rabalais is the leader of this group and I feel like I have been completely scammed. I found out that the SEC has now been involved ( https://www.sec.gov/litigation/litreleases/2019/lr24571.htm ) . Extremely disappointed. My advice to you is to find something else much less risky & shady to invest in.
Under SEC investigation
On 8/19/2019, the SEC filed a fraud complaint against Chris Rabalais:
The Securities and Exchange Commission today charged Crystal World Holdings, Inc., The New Sports Economy Institute, and Christopher Paul Rabalais with misleading investors in the unregistered offer and sale of securities of Crystal World to investors in the United States and around the world.
The SEC's Complaint alleges that Rabalais and his alter ego entities, Crystal World and The New Sports Economy Institute, solicited over $1.5 million from retail investors from 2014 through 2019 by misleadingly describing the Crystal World stock as "gifts" offered in exchange for "donations" to The New Sports Economy Institute, a nonprofit entity that Rabalais founded and controlled. According to the Complaint, throughout the fundraising period, Rabalais and his entities further misled investors and prospective investors by repeatedly promising that the Crystal World stock would soon be registered with the SEC, stressing the importance of buying the stock before registration made it valuable. In fact, Rabalais and his entities never took any steps to register the stock and, for much of the fundraising period, did not understand how to achieve such registration.
The Complaint, filed in the U.S. District Court for the District of Columbia, charges the Defendants with violating the registration and antifraud provisions of Sections 5(a), 5(c), 17(a)(2), and 17(a)(3) of the Securities Act of 1933. The SEC seeks permanent and conduct-based injunctions, disgorgement, interest, and civil money penalties.
The SEC's investigation was conducted by Michael Flanagan and Charles Davis, and was supervised by Ivonia Slade. The litigation will be conducted by Patrick Costello and supervised by Frederick Block.
Original here: https://www.sec.gov/litigation/litreleases/2019/lr24571.htm
Link to SEC complaint (pdf) here: https://www.sec.gov/litigation/complaints/2019/comp24571.pdf
The All Sports Market website used to have a community forum. Rabalais shut that down, and AllSportsMarket users created an external reddit thread to discuss ASM. You can find that thread here:
https://www.reddit.com/r/AllSportsMarketGSFE/
If you are considering involving yourself in any way with Chris Rabalais or any of his business concerns, I would strongly advise you spend some time on that reddit thread reading what disillusioned investors have to say about Rabalais and his platform. The charitable in that group characterize Mr. Rabalais as grossly incompetent (The reddit post titled "A Donor's Lament" itemizes Rabalais's abject failures in leadership and decision-making); the rest identify Rabalais as a fraudster who continues to peddle worthless sports shares on a broken market.
About one year ago I "invested" in the "real money market", which in ASM terms means I donated monies to Rabalais's non-profit in exchange for shares on a "pilot" sports stock market that does not allow investors to withdraw their funds. My strong feeling is that Rabalais's promise that somewhere down the road, the "profits" I make in the pilot sports stock market will be transferred to a real sports stock market once ASM creates a relationship with the major sports teams that allows for the establishment of a real sports stock market -- my strong feeling is that that transition will never happen due to the combination of Rabalais's misfeasance and the ponzi elements central to his stock market concept (and again, see the Reddit thread for discussion of that ponzi aspect).
Ultimately, I think Mr. Rabalais will be shut down by the SEC, or the FBI, or the IRS, or some combination of the three, and investors who have funded his operation to the tune of 1.5 million dollars have nothing to show for it. Stay far away!
Under SEC investigation
On 8/19/2019, the SEC filed a fraud complaint against Chris Rabalais:
The Securities and Exchange Commission today charged Crystal World Holdings, Inc., The New Sports Economy Institute, and Christopher Paul Rabalais with misleading investors in the unregistered offer and sale of securities of Crystal World to investors in the United States and around the world.
The SEC's Complaint alleges that Rabalais and his alter ego entities, Crystal World and The New Sports Economy Institute, solicited over $1.5 million from retail investors from 2014 through 2019 by misleadingly describing the Crystal World stock as "gifts" offered in exchange for "donations" to The New Sports Economy Institute, a nonprofit entity that Rabalais founded and controlled. According to the Complaint, throughout the fundraising period, Rabalais and his entities further misled investors and prospective investors by repeatedly promising that the Crystal World stock would soon be registered with the SEC, stressing the importance of buying the stock before registration made it valuable. In fact, Rabalais and his entities never took any steps to register the stock and, for much of the fundraising period, did not understand how to achieve such registration.
The Complaint, filed in the U.S. District Court for the District of Columbia, charges the Defendants with violating the registration and antifraud provisions of Sections 5(a), 5(c), 17(a)(2), and 17(a)(3) of the Securities Act of 1933. The SEC seeks permanent and conduct-based injunctions, disgorgement, interest, and civil money penalties.
The SEC's investigation was conducted by Michael Flanagan and Charles Davis, and was supervised by Ivonia Slade. The litigation will be conducted by Patrick Costello and supervised by Frederick Block.
Original here: https://www.sec.gov/litigation/litreleases/2019/lr24571.htm
Link to SEC complaint (pdf) here: https://www.sec.gov/litigation/complaints/2019/comp24571.pdf
The All Sports Market website used to have a community forum. Rabalais shut that down, and AllSportsMarket users created an external reddit thread to discuss ASM. You can find that thread here:
https://www.reddit.com/r/AllSportsMarketGSFE/
If you are considering involving yourself in any way with Chris Rabalais or any of his business concerns, I would strongly advise you spend some time on that reddit thread reading what disillusioned investors have to say about Rabalais and his platform. The charitable in that group characterize Mr. Rabalais as grossly incompetent (The reddit post titled "A Donor's Lament" itemizes Rabalais's abject failures in leadership and decision-making); the rest identify Rabalais as a fraudster who continues to peddle worthless sports shares on a broken market.
About one year ago I "invested" in the "real money market", which in ASM terms means I donated monies to Rabalais's non-profit in exchange for shares on a "pilot" sports stock market that does not allow investors to withdraw their funds. My strong feeling is that Rabalais's promise that somewhere down the road, the "profits" I make in the pilot sports stock market will be transferred to a real sports stock market once ASM creates a relationship with the major sports teams that allows for the establishment of a real sports stock market -- my strong feeling is that that transition will never happen due to the combination of Rabalais's misfeasance and the ponzi elements central to his stock market concept (and again, see the Reddit thread for discussion of that ponzi aspect).
Ultimately, I think Mr. Rabalais will be shut down by the SEC, or the FBI, or the IRS, or some combination of the three, and investors who have funded his operation to the tune of 1.5 million dollars have nothing to show for it. Stay far away!