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I have written a couple of times about the JBC stock trading – stock market – share price prediction scam.

Nearly two years later, and after many complaints to regulatory authorities, they still seem to be in business.

JBC Global, CFS Live, and anything associated with them, are an outright fraud.

Some of the names given by its ‘senior analysts’ (telephone con agents) are: Paul Harvey, Chris Wallace, Mike Boyd, Bruce Jones, Scott Brennan, David Moore, Adrian Mathews, Gareth Hughes, Philip Duiker, Chris Davis, Danny Cook.

It is likely that these names are invented, as is the ‘senior analyst’ title.

JBC’s website is still active, but is now pretending to be wider than merely stock trading software. It claims to be a comprehensive business development group, offering software development, employment services, and project management. No matter where you enter your details on this site, you will receive a phone call offering to send you a brochure outlining JBC’s services.

This will be an impressive looking, professionally designed and printed brochure intended, like their website, to give an impression of wealth and stability. You will then receive a follow up phone call, offering you one of a very limited number of licenses. If you express doubts, you may be directed to scam websites which appear to review other, legitimate home business or investment packages, and which give glowing reviews, or even awards, to JBC’s program.

All of this is true of CFS cfs-live.com (I am not giving them a link). The same professional website, the same professional looking brochure, the same skanky con-men on the phone.

I suspect that cfs-live is simply a re-badged version of the JBC share price / stock prediction / share trading scam.

There are plenty of these swindlers around. The PCA (position cost averaging) system is another one, complete with its own fake independent review site at stocktradingeguide.com.

JBC and CFS are the stock trading scams which seem to be most active in Australia.

I am not sure why regulators and police seem unwilling or unable to do anything about these thieves. But as long as they continue to operate, ordinary Asutralians are losing their savings.

I intend to get in touch with A Current Affair or Today Tonight and suggest they do a story on JBC and CFS.

If you have been contacted by these groups, and would be willing to share your story, please add a comment using your correct email address (not visible to the public), or contact me – see my profile page for my email address.


CFS is definitely still active in Australia. I have received emails from a gentleman who spent $8900 in January to buy their programme. For $8900 he got a disk and a booklet, and a folder to put them in.

From his descriptions, the CFS package is identical to the JBC programme.

The software gives a points value to different stocks.  You are supposed to look at the points value and decide what to buy and sell.

The points value appears to be based on sudden movement of stocks up and down. For example if a stock has been stable for a long time and then suddenly drops, it will get a high points value – that is, a buy recommendation – on the basis that it is likely to come back up again just as quickly.

These are frequently very bad recommendations.

The recommendations are bad because the programme has no idea what is going on the real world. A stock that suddenly decreases in value usually does so for a good reason.

Stefan left this comment at one of the earlier JBC / CFS posts:

I’ve been contacted by a chris of cfs. He was trying to sell cfs end of day trading software. he gave me the websites gfmo.org homebusinessprofessionals.biz which have reviews of their software but the net has no links to these sites or to cfs which means they are all probably a bit dubious. His phone number was 1300 441 355.

GFMO and homebusinessprofessionals are  fake ‘independent’ websites, set up by JBC/CFS to reassure prospective buyers.

Referring prospects to fake sites to give an appearance of legitimacy makes it clear that the JBC or CFS packages are not  products offered in good faith.

Don’t fall for these scams!

393 Responses to “JBC Global, CFS Live, ESL Trader Stock – Share Trading Scams”

  • Tony says:

    I was contacted by Danny Cook this week (22/3/11) – he has been calling me for a number of weeks – he also pointed me at the homebusiness website. Apparently, they got my name through having people cold calling sometime ago and asking questions about whether you are active in the stock market. Thankfully I looked for reviews on CFS and found this one – they are still active – just saved me $8900 !

  • Adam says:

    Thankyou you just saved me $10,000

  • Adam says:

    I would also like to add that you’ll notice no where on CFS’s Product Disclosure Statemen is there an ABRN or an AFS licence number which is required by ASIC.

  • Ben says:

    Same story for me. I was contacted by someone from CFS end of day trading and told all the crap listed above including 18-20% returns and the following websites: http://www.gfmo.org and http://www.homebusinessprofessionals.biz to look at.
    He was very slick and told me there were only 10 CFS licences left for WA
    Thankfully I did some digging and came across this blog. Tell your friends and family CFS end of day trading software is a nothing but a sleezy scam.

  • Fred Smith says:

    Note that both domains in Ben’s 7 April post were only registered February 2010.

    I understand they have a continual new batch of these ‘support sites.’ What happened to the post that named the Australian head scammers for CFS-live?

  • Gordon says:

    Hi all, Glad to find this site. I received the very glossy, impressive, professional looking brochure from CFS the other day. Having researched a few of these sorts of things in the past, I recognised a number of warning signs with it, which is why I came to ‘Google’ it. I’m expecting a ‘follow-up’ call soon after Easter. I’ll mess about with the caller for a bit and see if I can learn any more about them, but they won’t be seeing any of my money!

  • Lisa says:

    Hi, I was about to part with $8900 of my hard earned savings today but thought I better google it first – think you guys might have just saved me a big mistake, the certainly are smooth talkers and make it sound very legit. They mentioned all of the above and when I said I was hesitent they were going to offer me a 100 per cent money back guarantee. I told them I needed to investigate it further and they would ring me back soon. I wonder if they will? I’ll let you Know.

  • Sonya says:

    Thanks for this site. My experience is the same as Ben above. Unfortunately I fell for it and paid the $8,900 on my credit card which was to an overseas organisation (silly me). To my joy and horror, my sister found this site. I’ve since phoned the bank and they have informed me the transaction looked a bit “dodgy” and most likely I will be getting my money back.
    I am so relieved. Will let you know if I get credited the full amount.

  • Kelly says:

    Cfs-live is a big fat scam.
    I paid $8900 for this trading program as well.
    I am in the process of trying to get a refund, and it is not going well at all! I have decided to contact VCAT and go to a hearing on the terms it was an Unsolicited Consumer Agreement, as the transaction was done over the phone.
    I have decided I will hire a lawyer to guide me.
    I had no idea what a hole i was digging for myself.
    Do you have any ideas or recommendations that would help me in my trial or organisations apart from VCAT I could go to for help getting my money back? I am having trouble getting them to return my calls, as I need to know their ABN and ACN, which wasn’t even on the reciept.
    Such a scam! I feel completely ripped off 🙁

  • sue says:

    Thank god for this page i will not wasting any more of my time tryng to find something good about CFS Cory Armstrong was his name same crappy story only 6 packages left in NSW $25000.00 return in first year will have paid off my $8900 in 4 to 6 months, you know computers can do alot of smart things but they cannot predict what nature or humans can do to this economic world.

  • Sonya says:

    Hi again all. I am pleased to inform everyone I was credited the whole amount on my credit card by the bank. They were actually brilliant and I had the money back within days.
    And what may seem ironic to is, if the programme is worth so much, why have I still got it sitting on my desk without having anyone bother to contact me for its return!!!
    Kelly have you tried the bank yet? May save you a lot of legal costs? Goodluck

  • myztry says:

    They’re still trying to pull this off. I just had a “private” message through our call centre from a Nigel Wilson of CFS from 1300 441 355.

    I now recall CFS trying to cold call me about 6 months ago. Such callers are quickly dismissed from my interest.

  • Roly says:

    Bingo, Hello Myztry, 26May 2011 my 24hour follow up call. Certainly a brilliant scam,better than the Nigerian nonsense. The Question is,How many are they catching. I bet most feel to foolish to complain to authorities. Congratulations danny, you are very good at your work. By the way Danny shorting stocks on the ASX is not Illegal,tsk tsk. Enjoyed the chats, you are a proffessional,slimy though.

  • Roly says:

    Just watched the MCI trading programme. What a blast from the past.
    Craig Duffy ( Australian Snooker Champion)
    Jaime pickering (Larry’s Son)

    Larry Pickering had the Horse racing tip sheet scam. was constantly in trouble with the law over this.(Great cartoonist) Seems son Jaime Pickering and Craig converted the System to a Share trading tip sheet which makes it respectable. This was Tomato Technologies.(Public company). Thay did really well out of that and bought a lot of Surfers Paradise Night Clubs.Hmm. Then tried to buy Casinos in various places. Vanuatu was one and USA. Tomato Tech was suspended on 7/5/07 and changed to Asia Pacific ltd which is currently suspended. Now this MCI tech business.Definately an Entrepreneur but not in the Bruce Small mould. Bruce, ex mayor Gold Coast. He would probably be quite surprised to see what Orchid Av (Clubs Strip) and Surfers Paradise have become.

  • Kathy says:

    Hi Guys, Same to me, I also fell for it thanks to a Tony Gibb who as above was very sure that this was going to make $20000 in the first year. Only googling now as the data place I also have ‘welikedata’ is no longer letting me sign in to get the daily data required for the program to work, I have tried contacting cfs by email but it isn’t being delivered any more. I only paid half upfront and was supposed to be paying the rest once I hit the $20000. Still would love to find a way to get my money back, it has been 8 months already though.When I first was considering didn’t see anything like this on google – damn!

  • Roly says:

    Watched the video. Craig Duffy, a local Surfers Paradise identity along with Jamie pickering. Craig was an Australian Snooker Champion. Jamie the son of Larry the cartoonist and Horse racing tip sheet scam artist. The boys also own Nightclubs in orchid av Surfers. They also started Tomato Technologies, a publicly listed company that was a Sharemarket tip sheet that was suspended which they changed to Asia pacicic Ltd which is suspended.They tried Casinos for a while, not sure of the outcome there, now MCI Startrading.Whether they are related to CFS or one is a copy of the other is unknown either way if it sounds to good avoid.There was no way that i would have considered touching such a scheme. So many danger signals but the con is really well laid out.

  • Jo says:

    Russell somebody called us and Damien(?) Danny(?) yesterday… Must admit the glossy magazine that they sent caught my attention a couple of weeks ago when it arrived in my shop … Never said what it was all about though but made me sit and read over a cuppa… God knows how they got my business details to send it to .. They got onto my hubbie .. he was falling, had him hook line and eventually NOT SINKER …. As soon as hubbie mentioned $9k it would cost us and all you get is this software .. There are only 4 left in NSW … Bells started ringing .. Yeah Yeah Yeah .. Just taking a look at their website / magazine site / industry site .. could see through it TOTALLY .. Half-a-job Harry!!!

  • Roly says:

    I think it is also clear that CFS monitor this Forum. Nobody here has received a follow up call after posting.

  • Tim says:

    Had a message from a Nigel Wilson today (01/06/11) on our home phone. For me to contact him on 1300 441 355 with a pen handy to take down the ‘very important information’ he had. Needless to say I WON’T be doing that !!!

  • Tony says:

    Had the phone call today-only 4 left in NSW & I was one of the lucky ones to be offered this amazing software.
    I’m really pleased there are sites like this- the offers always sound too good to be true but it’s always reassuring to know that we haven’t missed the opportunity of a lifetime!!!

  • sharma says:

    hi sonya,

    which bank you are with. i am trying through commonwealth. plz let me know. i will be greatfull

  • Sonya says:

    Hi Sharma, it’s Commonwealth. Goodluck.

  • Erika says:

    Same story here. Got a cold caller checking for the address to send a brochure, than a guy ‘Carl’ sounding very proffesional (the senior trader helping out with sales), and only a few licenses left for WA. He offered even for me to pay half of the 8900, and than pay it off with my profit (‘just put a holding deposit down while’). Glad I made my mistakes in the past, I least I decided to do some research this time. Thank you for this website! He is gone ring me back on Monday: he’ll get a big NO!

  • Michelle Kriening says:

    I received a very professional, glossy looking brochure, ignored it until a phone call – listened and it all sounded very good – almost too good. Wondered why, if they were selling only 400 licences Australia wide, they had decided to try to sell me one – I calculated how much they would make selling these licences – not a bad profit. While waiting for my third follow up call I am doing some online research, and, as I was beginning to suspect, a ‘too good to be true’ scam. Should be an interesting next phone call from them when I bring up my online findings!

  • Stuart says:

    I also received the glossy brochure and the ‘Congratulations’ letter about a week ago. It’s all very attractive and appealling without telling you a great deal.
    I googled the website, and again not a great deal of information I’ve also had two missed calls from ‘Andrew Sinclair’ left on my answering machine asking to return the call.
    It has never ‘sat’ comfortably with me, I always get a little curious when there is no hint of the cost to you.
    I’m glad I’ve found this website.
    The old addage – ‘If it seems to good to be true or too easy – It is!’

  • I have been scammed, parted with $8,900 on the basis that I was given a money back guarantee if I didn’t achieve the equivalent of the purchase price.
    Requested a refund and they have delayed (apparently) reviewing my file and then they have forwarded the file to the London Headoffice. Need to find out what this companies legal name is to prosecute them? Can anyone assist, also has anyone visited their office, do they actually have staff working there? Would be happy to get A Current Affairs involved to stop this scam if needed.

  • Tony says:

    I’ve had a follow-up call from George. Although he was very busy on the trading floor he managed to give up some time to ring me back.
    When I asked about a PDS he told me all I needed to know was in the brochure- why would I need a PDS? I also asked about an ABN & ACN number. He replied that he could give it to me & why would I want it. Then the phone call magically dropped off. Not surprisingly I did not get a phone call back.

  • Robert says:

    I was contacted on a number of occassions ,with all the same claims as outlined above and was considering investing in the cfs program, until I checked this out. Chris was a very slick salesperson, and I,m still not sure. Can anyone tell me if there any succesful purchasers of their product, and also their company is registered with ASIC, WHICH HE POINTED OUT.

  • Karress says:

    Nichole contacted me three times, first time I was too busy to talk. She rang back a week later and I was told the investment would earn $20,000 in the first year. I told her that it sounded too good to be true, otherwise why would the company be hiring her as a rep, and why were they not just making money with their fool proof system. She said she was not a Rep but she also was an investor and she received a commission on the profits my investment would make. This added to the profits of her own investments. She then explained how the program worked and that it graphed small changes in the stock market listings, which told you to either buy or sell. The system worked by not making big profits but by making small profits on lots of trades. She said if people followed the rules and did not become greedy holding on to stocks after they had reached their percentage growth, the system worked. She said she had a limited number of the software programs as they were controlled by ASIC on the number of Traders they were entitled to have join their program.

    I said the graphing of small percentage growths and falls made sense to me but I was not about to pay $8,900 for something that might turn out to be an empty box.

    She said if she could give me a money guarantee if it failed to pay for itself in 15 months would I be more prepared to invest.

    I said if there was no risk I would be interested. She then said she would speak to her supervisor to see if she could arrange a guarantee for me…moments silence…She then returned and I was then offered a guarantee if I did not make back the $8,900 in 15 months I would get a refund.

    Still wary about it being too good to be true, I put her off saying I had to go out and she arranged to call the next night.

    It was only at this stage that I started to look at the brochure in depth and noticed nowhere did it have the actual name of the company or ABN.

    Nichole called back two days later, this time she was saying the offer to purchase closed at the end of the day. I told her I could not find an ABN on the brochure, and would she post me her business card. She said the reason why the ABN was not on the brochure was because it was an international brochure, but asked if I had a pen and she started to give me an ABN and told me to check it out on ASIC. Not convinced to the legality of the brochure without an ABN on it and therefore the quality of the verbal guarantee. I told her there would be no way I would be agreeing to anything by the end of the day based on a telephone call with someone I had not met.

    Unfortunately, that interrupted her from giving me the ABN and the conversation ended…so I did not get to check it out on ASIC and am surprised that Robert above says that it is listed there.

    I was convinced at the end that they were frauds, more by the pressure to sign up by the end of the day…and the missing ABN but still it worried me that I may have been wrong so I decided to try to find something on them on the net….and then I found you guys.

    Same story as my experience…fantastic salesperson, where do they find them…and are they really listed on ASIC!

    Narrow escape for me, sorry you other people were burnt.

    I will certainly be doing an article on them in my next issue of Your Liverpool Magazine http://www.yourliverpool.com.au to alert people to the fraud.

  • Karress says:

    Nichole called back two days later, this time she was saying the offer to purchase closed at the end of the day. I told her I could not find an ABN on the brochure, and would she post me her business card. She said the reason why the ABN was not on the brochure was because it was an international brochure, but asked if I had a pen and she started to give me an ABN and told me to check it out on ASIC. Not convinced to the legality of the brochure without an ABN on it and therefore the quality of the verbal guarantee. I told her there would be no way I would be agreeing to anything by the end of the day based on a telephone call with someone I had not met.

    Unfortunately, that interrupted her from giving me the ABN and the conversation ended…so I did not get to check it out on ASIC and am surprised that Robert above says that it is listed there.

    It was the pressure to sign up by the end of the day…and the missing ABN that made me pull out…but still it worried me that I may have been wrong so I decided to try to find something on them on the net….and then I found you guys.

    Same story as my experience…fantastic salesperson, where do they find them…and are they really listed on ASIC!

  • Willy says:


    I can provide you with the names of the people behind the CFS-live scam both here and in the UK. I can give you the trading names of the ‘help desk’ people and the initial cold caller plus the location of the offices. I can also give you the names of the hard sell people.

    If you are serious about Today Tonight etc let me know and I will provide all the information you need.

  • Willy says:

    I actually wonder if you people are real! What was the company registered by ASIC mentioned above? How could you track the owners when they pay people $200 a week to be dummy directors?

    Peter are you serious about exposing them or just talk?

    I made an offer and you have access to my email address so lets see if you are fact or full of it!

    ps. I think there are people at ATO being paid to look the other way

  • Willy says:

    I should have said how small time you are all are. I hear some people have paid $80,000 for a Gold membership.

    Can you believe anyone is that stupid….. well yes they send money to Nigeria every day.

  • Willy says:


    Can I assume that you are simply all talk? You have my offer and you have my contact details but you seem to have no interest in find out the people behind CFS-Live

  • Mary says:

    Every credit card transaction for $8,900 should be a RED FLAG for the banks and credit card providers. Our financial services providers and regulatory bodies know about these scams and do what to protect their customers?

    If you’ve been ripped off, speak out! Contact your bank and ASIC and complain loudly. Don’t be embarrassed. You didn’t know about the scam but you can bet your financial services provider did!

  • Mary says:

    Try googling IPI Pty Ltd. No mention of an Australian Financial Services Licence and the terms and conditions are… not very customer friendly!

  • Paul says:

    I had an initial call with ACCC today and have a follow up conversation tomorrow to provide more details on this scam. Also lost $8900, offered money back guarantee and I am more than willing to take this to ACA. I will also be contacting ASIC this week and I realise my money is probably gone, but I want to close this scam and the people beyond this, at their apparent Sydney office who act as their customer service division and made several misrepresentations. In actual fact I believe they are not employed by CfS, but an employment agency.
    If you provide an email address, i will contact you.
    By the way, don’t spend money on a lawyer, without an ACN or registered company name, it is a waste of

  • Paul says:

    Hi Willy & Peter,

    I was scammed by CFS, they offered a money back guarantee which I have been claiming for over 2 months. I spoke to a lawyer about this and without an ABN, which they dont have, it is pointless paying money to prosecute, given the company is London based.

    I have gone down the root of calling ACCC, I have a call with them tomorrow anf will then contact ASIC. I aim, to expose these criminal for what they are. I know that I am unlikely to get my money back, but want this scam exposed and hopefully closed.

    Peter, Willy and any other that want the same, please email me on [email protected].

    I hope to hear from you soon and happy to take this to ACA.

  • Paul says:

    Peter & Willy,

    If you are serious about taking this on, whether it be to ACA, ACCC or ASIC, send me your details to an email box I established last night
    [email protected]ail.com
    I have lost $8,900; told at the time that my money would be returned back if I did not make profit equivalent to the outlay cost. Have been chasing this up for 2 months, spoken to my solicitor and without an ABN, which they dont have, then was told it was a waste of money pursuing through solicitors as there is no one to sue (a registered company here in Australia). But was told to take it to ACCC, ASIC and ACA to expose this scam.
    Willy, if you are serious, email me and provide me your details and would be happy to take this scam on.

  • Willy says:


    I have provided Peter with the Trading names (Pty companies), names and photos of the people behind the scam, office addresses, home addresses and other detail.

    You could well be a paid phiser by them with that email address.

    If Peter does not want to provide the details to you let me know via this forum

  • Willy says:


    You asked me if I was serious. What about you? Are you a plant gathering info for the CFS boys? Seems strange that after 5 days no response.

  • Suzy says:

    So it looks like I’ve lost my very hard earned cash. We cotactedg the CFS service representatives for a refund the minute we received the folder. I thought we were getting somewhere when Gail found the time in her busy scheming schedule to phone back. She told us to email a letter stating reasons for our refund request, and also send a hard copy with the Folder back to CFS within 7 business days. Months went by playing continuous phone tag with a man named Adrian supposedly handling our complaint. Then a few weeks ago we received the folder in the mail again, and were informed that since we broke the seal on the side no refund will be given. Thay are not concerned about threats to go to court or to the police and heres why, I like many of you have been to the ACCC, they stated I don’t have a case since the program I purchased is not actually faulty and the package and program was in the state that was expected. Don’t know where to turn now, I put it on my Credit Card, and used most of my savings to pay that bill, the interest on that amount would have been phenomenal. But now we have nothing but bills and an empty bank account. I will help where I can to put a stop to this.

  • Willy says:


    I think you are in the wrong place as I now believe this is a phishing site for the CFS boys. Even the names you have used makes me wonder if YOU are real as THEY do not use their real names but you have.

    The site moderator has all the information you need and anyone else. He has your email address so he could provide this to you.

    He claims he wants to provide info to TTN and ACA but does nothing because I think he is scared.

    Why don’t you get Peter to provide the home addresses for P & R so you can demand your money back in person? I suspect he won’t because he is a front to let you vent your anger but then do nothing.

    Now we have them back in the UK ripping off again.

  • Alex says:

    And who are you, Willy? Peter has been publicly wanring people about JBC and CFs for at least two years, and encouraging anyone who has been ripped off by them to take action. If you are concered, go the authorities yourself and stop whining about what other people whould be doing.

  • Peter says:

    Hi Suzy and others. It has been a while since I have been able to do any updates.

    I continue to be dismayed that the ACCC and state consumer protection agencies seem unable or unwilling to take any action against a very slick, ongoing, major scam operation.

    In the last couple of weeks I have sent information to Today Tonight, and A Current Affair, but without any response.

    I will keep trying. If you who have information or have been ripped of by JBC or CFS contact them directly, that will increase the chances that current affairs programmes will take an interest.

    Another possibility is to talk to your local MP and ask him or her to stir the consumer agencies into action. But I think pressing the current affairs programmes is the best bet, at least to make sure as many people are warned about this as possible.

  • Ben says:

    Most if not all the stock market and share price prediction scams, as well as the horse racing prediction software scams are based on the Queensland Gold Coast. They claim that they are based in Sydney or London etc but thats simply not true. There is about ten companies with similar prediction software programs operating on the Gold Coast. Those companies normally change there name and contact details every six months or so to cover there tracks. The sales people are paid on commission and recieve $1500.00 or more for every sale they make, so they will tell and promise you anything to make a sale. The companies on the Gold Coast are very secretive and only certain people in the know, know where they are and how to become a “sales person” for the company. A number of people on the Gold Coast want to work for the scam prediction software companies because its very good money as most staff are recieving between $3000.00 and $5000.00 cash in the hand per week for only few hours a week on the telephone, so when you consider the money its very easy to lie to people to make sales and ingnore the fact that the software is bogus. It is near inpossible to get a refund, really the only way is to do a “charge back” on your credit card from your bank ASAP. A person would have more luck making money by spending $8900.00 at a casino than on the software prediction programs. Trust me, do not believe the sales people on the phones or the website/brochure.

  • steve says:

    Willy, I also am in the process of trying to get my $8900 back from cfs,Can you please provide for me the information that you have given to Peter,Can you not provide it on this website so everybody can see for themselves what lowlife,scumbags look like or is it an invasion of there privicy!

  • steve says:

    Willy,I am in the process of trying to recover my $8900 from cfs,Can you please send me the information that you sent to Peter about the company and peoples involved? Better still can you post all information on this website so everyone can see what lowlife,scumbags of no conscience look like?Or would that be an invasion of there privacy! Why should people of such low moral standard have any rights.Any help would be much appreciated.

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