In July 2016, I purchased one silver bar ($10,000), immediately the account representative pushed me to buy two mores bars by investing $30,000, with the rest financed by Monex Credit Company for a total of $60,000 investment. My equity therefore was 49.9%. Frank Gonzalez, the Account Representative, offered to monitor the market and make me aware of exposure in the market. Well, in 45 months, he only call me once (on 5/24/19) to tell me that I needed to deposit $1,419.86 because my equity had dropped.
Last friday on Oct 20/17 @1:50 pm.i received a call from Arthur Reyes from Monex Co, that i sould get out and close my acount ,our put more money in to buy more silver becuse the goverment is launching an investigation into some kind of fraud,and i may be at risk of my money getting tight in,anyway i have lost close to $ 10,000. in cuple of years,also becouse the goverment rigging the metal with fiat currency.
My father Judd Hubert purchased 10 bars of Platinum on 11/08/12 for $160,000. I witnessed this transaction. He paid by check and made it clear that he only wanted to hold the 10 bars and nothing more.
On 10/16/14, he received a call from a sales associate Dan Wales who told him that he would do everything to diminish any losses as the value of the platinum was going down. Mr. Wales claims that my father who was 98 years old agreed over the phone to buy 10 more bars of platinum. My father told me he never agreed to purchase any more platinum and only wanted the 10 bars he had initially purchased.
On 11/30/15, my father sold the what he thought was 10 bars of platinum because the value was going down. He was told he could claim the loss on his taxes. On 12/4/15, he received a check for $30,540.38. He said he should have received the sales price on 10 bars which was $83,320.00.
Because I know that at the age of 98 years old my father did not understand or comprehend telephone conversations concerning these transactions, I called Dan Wales to explain this. I told him that my father never agreed to anything other than the original 10 bars which was purchased.
He told me that had him agreeing on a recording. I have written requesting this recording and have never received a response. I also spoke with the claims officer who said they had a recording of my father agreeing to a loan of 10 bars used on the intial purchase.
I told him that I consider this phone conversation elder abuse because my dad at 98 years old did not understand any loan transactions because his hearing and comprehension on the phone was poor. He only understood that losses would be reduced.
I wrote them a letter asking for the sales price on the 10 bars and requested the additional 10 bars be thrown out. I also asked for the transcript of the recording and never got a response.
Monex has a long history of ripping people off. They have had serveral class action lawsuits and negative articles in the LA Times in addition to lawsuits from the IRS.
My father became depressed after this situation became ill and then passed away last week. He was one of the last WWll vets and a very renowned scholar from UCI. His obituatury in the LA Times and memorial at UCI are currently being planned.
Monex should not be allowed to get away with this. I have showed all documents to our attorney who said the numbers don't add up and that the value of the platiinum did not go as low as they claim.
Their contract is rigged against any customer and the only recourse is to let the world know what they are doing.
Monex Precious Metals Reviews
In July 2016, I purchased one silver bar ($10,000), immediately the account representative pushed me to buy two mores bars by investing $30,000, with the rest financed by Monex Credit Company for a total of $60,000 investment. My equity therefore was 49.9%. Frank Gonzalez, the Account Representative, offered to monitor the market and make me aware of exposure in the market. Well, in 45 months, he only call me once (on 5/24/19) to tell me that I needed to deposit $1,419.86 because my equity had dropped.
Last friday on Oct 20/17 @1:50 pm.i received a call from Arthur Reyes from Monex Co, that i sould get out and close my acount ,our put more money in to buy more silver becuse the goverment is launching an investigation into some kind of fraud,and i may be at risk of my money getting tight in,anyway i have lost close to $ 10,000. in cuple of years,also becouse the goverment rigging the metal with fiat currency.
My father Judd Hubert purchased 10 bars of Platinum on 11/08/12 for $160,000. I witnessed this transaction. He paid by check and made it clear that he only wanted to hold the 10 bars and nothing more.
On 10/16/14, he received a call from a sales associate Dan Wales who told him that he would do everything to diminish any losses as the value of the platinum was going down. Mr. Wales claims that my father who was 98 years old agreed over the phone to buy 10 more bars of platinum. My father told me he never agreed to purchase any more platinum and only wanted the 10 bars he had initially purchased.
On 11/30/15, my father sold the what he thought was 10 bars of platinum because the value was going down. He was told he could claim the loss on his taxes. On 12/4/15, he received a check for $30,540.38. He said he should have received the sales price on 10 bars which was $83,320.00.
Because I know that at the age of 98 years old my father did not understand or comprehend telephone conversations concerning these transactions, I called Dan Wales to explain this. I told him that my father never agreed to anything other than the original 10 bars which was purchased.
He told me that had him agreeing on a recording. I have written requesting this recording and have never received a response. I also spoke with the claims officer who said they had a recording of my father agreeing to a loan of 10 bars used on the intial purchase.
I told him that I consider this phone conversation elder abuse because my dad at 98 years old did not understand any loan transactions because his hearing and comprehension on the phone was poor. He only understood that losses would be reduced.
I wrote them a letter asking for the sales price on the 10 bars and requested the additional 10 bars be thrown out. I also asked for the transcript of the recording and never got a response.
Monex has a long history of ripping people off. They have had serveral class action lawsuits and negative articles in the LA Times in addition to lawsuits from the IRS.
My father became depressed after this situation became ill and then passed away last week. He was one of the last WWll vets and a very renowned scholar from UCI. His obituatury in the LA Times and memorial at UCI are currently being planned.
Monex should not be allowed to get away with this. I have showed all documents to our attorney who said the numbers don't add up and that the value of the platiinum did not go as low as they claim.
Their contract is rigged against any customer and the only recourse is to let the world know what they are doing.
Monex Fined over Security Sales
They Allowed Unregsitered employess to sell Securites
You are not talking to real professionals here
******DONT TRUST THEM
Read More here in article about it in the Wall Street Journal
www.wsj.com/articles/monex-fined-over-securities-sales-1419955322