Global Shares

gustavo1

Hi Dean,

I got a solicitor to phone the CCC and the CCC wrote to me still maintaining that there was no breach of contract. However for the first time they actually acknowledged that I had a judgement against GSL. They stated the following:
'' ..as you have advised that you were taking GSL to court to recover monies paid to them, we require confirmation from the court of their decision. Should the court find in your favour and GSL are unable to meet the court judgement, I would require a failed warrant of execution.''
I had already send them evidence that the court had found in my favour but I sent it again. This said to me that if I can show I have taken all steps to recover the money from GSL and was unsuccessful then the CCC would re-imburse me.

I think it is worth spending the £55 to raise a warrant in order to try and recoup £4k. GSL who are now called JB Capital and Global Shares Investment Solutions Ltd are located at Tower 42, International Finance Centre, 25 Old Broad Street, London EC2N 1HN. My warrant was issued to The Mayor's & City of London County Court.

However since then the CCC have written to me again re-stating their final decision that there was no breach of contact. I think that the person I am dealing with at the CCC is a bit dim as she has clearly forgotten what she wrote in her last letter. The CCC just seem to send standard template letters in the hope that you will give up.

Either way I have issued a warrant of execution. When GSL don't pay I will send the failed warrant of execution to the CCC. Even if the CCC still refuse to pay it will strengthen my case when I take it to the Financial Ombudsman. In the mean time I will remind the CCC of the statement they made above.

In response to Daka's post regarding GSL's lack of customer support. This is a breach of contract and I have emphasised this to the CCC but they have just ignored it. I will however get my solicitor to broach this subject with them again.

Well done Daka. Glad to hear you got your money back.

I will keep you posted of developments

Regards,

Ed.

Daka_2

Hi,

Glad to see Gustavo making some progress.

I have had a lot of private equiries asking me how I presented my case and the arguements I used in court.

I have decided to make this available but I cannot post it on this site.

If you are interested in the arguements that I used and all the analysis of the trades I did (to show that the profit performance figures were 'unreliable' and 'misleading') please send me a private message on this forum. Left click on my Name and choose 'Send a private message'.

I cannot promise it will work for you but most of the arguements are about GSL's behaviour and product rather than specific to my case so I cannot imagine why it would not work. There may be a small admin charge.

Best regards.

Daka.

jonny2shares

HI DAKA I have sent you a private message but i dont think you have had it? I purchased the software in oct last year for 4k and am now looking to start the process of obtaining a refund. Any advice/help would be appreciated.

Daka_2

Hi Johnny

I've checked my private messages and there is no message from you. Maybe its a glitch on the website.

For general advice please see my previous postings - they outline the process I went through. My experience (and that of others) is that GSL will simply ignore your complaints and requests for help. The best thing to do is to go through the process so that you have the law on your side.

Be prepared for a long slow process. It took me about 18 months to actually get my money back. I cannot promise you certain success but I can show you the way.

For specific advice on the arguments I used in court please email me at [EMAIL="bdp@sky.com"]bdp@sky.com[/EMAIL]. These are too large to put on this site.

Best regards.

Daka

SummerAngel_3

Dear all,

I have too been scammed by this unscrupulous merchant. My CCC is asking me to provide them with a copy of the merchant's terms and conditions to enable them to assess my claim under Section 75. Does anyone have a link to the terms and conditions as I can't find these anywhere??

Many thanks
SummerAngel

gustavo1

They don't provide terms and conditions. That would be too ethical for GSL. Read Daka's and my previous postings on how to proceed. All the information you need is there. Good Luck

Backgammon

Thanks for posting this, and thanks to everyone else for the interesting reading about this lot! And yes have also been scammed. I actually received the package but didn't open it and snt it back the same day, having tried to stop the CC payment 30 minutes after signing up. I found this forum literally minutes after signing up with 'Paul James'. Have contacted the credit card company who don't want to help and am trying to get help from the Financial Ombudsman to get the CC company to help. But don't hold out a lot of hope.
Will contact Trading standards but not sure what else I can do here. Any guidance would be brilliant.
Yeah, I'm a fool and got taken in. Is there no way of stopping con men likes these?

I have also been asked for the T&Cs by my credit card company who even attempted a conference call with JBC with me on the line. We got nowhere, but CC company still won't help. Apparently the T&Cs are supposedly on the website that you access when you activate the software. As I never loaded the software I don't know if this is true, but suspect not.

Daka wrote: »

I made the mistake of buying this terrible product in May 2008.

My best advice is - AVOID THIS PRODUCT LIKE THE PLAGUE.

I think it is useless. I decided this within a few days of receiving it. I complained immediately to Global Shares, My Credit Card Company and trading standards.

As soon as I complained Global Shares stopped taking my calls and did not reply to my letters.

I started a Small Claims process against both Global Shares and the credit card company. After months of foot dragging from Global Shares, this week I got a judgement against them and they now have 14 days to give me my money back with some costs.

If you have lost money you can fight them – in fact they do not bother to fight. They seem to sit back and hope that you give up before the lengthy process ends. They did not put up any defence whatsoever in court – largely because they do not have a defence.

The process is simple but time consuming.

If you are interested in claiming money back just reply to this post and I will happily post details of the process.

Once again - AVOID THIS PRODUCT. But if you have already bought it, don't give up - try to get you money back

gustavo1

Hi There Backgammon,

Don't feel too bad, you are not alone. In hindsight I feel really embarrassed I fell for this but one thing that JB Capital are good at is selling. I am a salesman myself and the Australian !!!! did a good job on me. They say salesmen are the easiest people to sell to.

The CCC will do everything they can to avoid paying you unless you can back them into a corner. I have just sent a failed warrant of execution from the court bailliffs to the CCC because they did intimate that if I could provide this they would look at re-imbursing me. I am not holding my breath. I am going to get my solicitor to write to them with the failed warrant and requesting to speak to their legal team. If this fails then I will resort to the Financial Ombudsman. They are the only people that can force the CCC's hand and I believe that we have a very strong case. Although it will be a long drawn out affair I am confident the financial ombudsman would find in our favour. I have done everything I can to try and get the money from JBC so the CCC will have to pay.

The reason the warrant failed was because they are not located at the International Finance Centre in Old Broad Street, surprise, surprise. Apparently it is perfectly legal for a company to register at an address and have a receptionist take their calls without ever having stepped through the door. They probably work out of someone's house. I knew the warrant would fail but I believe it was money well spent because it shows I have done everything in my power to get the money back from JBC and will strengthen my case with the financial ombudsman if the CCC still refuse to pay.

When I bought the product you had to ring them to activate the software. There was no website except a log-in screen if you were one of their investors. I believe there is a new website but there won't be any T&C's. These guys have got 'ripping people off' down to a fine art and the law is an !!!! because it can do nothing to stop them. Trading Standards have been a waste of time to date. I reported it to my local Trading Standards and they referred it the Trading Standards in the City where JBC are supposedly based. They even asked if I would act as a witness if they brought a class action against JBC. Haven't heard a thing from them. Maybe if enough people make complaints they will have enough ammunition to go after JBC.

My advice would be to read Daka's posts and just follow the instructions word for word. He ended up going to court but he got his money back in the end.

Don't give up. If enough of us make a noise Trading Standards will have to do something. Just wish I could find out where they are - I would love to smack that Aussie in the mouth. Perhaps we should write to one of those shows on the TV that expose con artists.

gustavo1

Success at last. The CCC reimbursed me for the full amount I paid for the software. Yipeee!!!!!

It's a shame I couldn't get the money out of JB Capital but it is a sweet result just the same.

If you have been ripped off by this company don't give up you just need to be persistent. Just read Daka's postings and follow his instructions by the letter. I did and I have got my money back. Many thanks to Daka for his advice.

It cost me £150 to take out a small claim and issue a warrant but I consider that a good investment to get back £3,995. It will take time and patience but it worth it to get back £4k.

Good Luck to those trying to get their money back and if anyone is thinking of investing in this software don't touch it with a barge pole.

Daka_2

Gustav

Well done - I'm so pleased that you got your money back.

I hope that we hear of more of these success stories.

Best of luck to the others trying to get their money back.

Daka