I am damned lucky- I got my money back, though it turned into a part-time job just to wrangle it. Lots of stalling and delays from James Kennedy, the few times I could get through to him. This is a TERRIBLE company and I am fortunate I got my $6000 back- it sounds like a lot of other people are out of luck. Sorry, folks...this stinks.
I AM BEGINNING THE PROCESS OF COMPLETING A FORMAL COMPLAINT TO THE CALIF. ATTORNEY GENERAL'S OFFICE & THE BBB AS WELL AS A COMPLAINT AGAINST THE BROKERAGE COMPANY TO THE S.E.C. SINCE I FEEL THEY HAD A RESPONSIBILITY TO WARN ME ABOUT THIS COMPANY WHEN I SIGNED ON UNDOUBTLEY KNOWING THAT LUXMAN WAS A SCAM OPERATION. THE BROKERAGE COMPANY THEY REFERRED ME TO WAS FOREMOST TRADING.
I THINK IT WOULD BE BENEFICIAL IF ALL OF US DID THE SAME THING. THESE PEOPLE SHOULD BE IN JAIL.
Did you get your attorney involved? and what happened? There is a clause that states the jurisdiction will be in CA. There is also a clause limiting class action lawsuits, or at least there was in my contract. I believe it is an illegal contract that makes it illegal to sue somebody. There should be no such thing. Personally, I jumped through all the hoops and sent my two certified letters in at the required time, and still nothing. My brokerage account lost money, without even deducting commissions and brokerage fees. James Kennedy said that Jack Harris makes the decisions and writes the checks, but 3 weeks later, Jack Harris told me he was just the guy that answers the phone, and James Kennedy makes the decisions and writes the checks. Stay clear everybody.
This company is a total scam.I got into their program last year and lost a lot of money.When I tried to get my refund they said I would get my $6,000 back.That was a year ago.I filed with a complaint with the California State Attorney General.They could not do anything,because the amount was less than $7,000.I filed in small claims court.They could not find the company to process the papers because their office is a U.PS. store mail box.Their better business rating is F-. These people are the scum of the earth.BEWARE!!!! and be warned!!!!
IS THERE ANYTHING UP TO DATE ON LUXMAN REFUNDS. YOU SUGGESTED BANDING TOGETHER FOR SOME ACTION IN '09. WAS ANYTHING DONE ON THIS. THANKS. [email protected]