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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”

  • Ben says:

    Steve, The only way to get your money back is to do a “charge back” at your bank – it has worked for some people. This is a procedure where the issuer of a credit card – such as a bank, building society or credit union – charges a proportion of the disputed transaction back to a merchant’s bank. The proportion of the transaction charged back can be all or a portion of the disputed amount.

    A chargeback can occur for a number of different reasons. Some of the more popular include:

    unauthorised transaction – where no card was present and the cardholder’s permission was not granted;

    non- receipt of documents requested – where the merchant’s bank does not supply required information pertaining to the disputed transaction;

    goods not received – by the cardholder;

    cancellation of recurring transaction – where a merchant ignores a request from the cardholder to cancel a recurring transaction;

    another payment method used – effectively paying for the goods or service twice;

    services not rendered – merchant unable to provide agreed goods or services.

    You should also contact the Australian Securities and Investments Commission (ASIC) and advise them of the situation and the scam.

    Sadly if you are unable to do a “charge back” then consider your $8900.00 gone.

  • Eileen says:

    Danny Cook. What a smooth talker you are. I actually enjoyed your chats. My con has cost 2 of my family as well. To think we were so honourable about the confidentiality agreement!! If only this site existed one year ago when I parted with our family’s hard earned cash. How can people do this to eachother?? My software folder is still on the bench. The practice attempts were so hopeless that I never made a real transaction. Thank goodness I didn’t lose more of our money. I too have been unable to get through on any of my support numbers. Danny Cook was never available on the number he gave me for first hand support. Oh dear. Must stick with my husband’s philosophy from now on …. If it seems to good to be true etc etc.
    Would love to expose these un Australian scammers through the media.

  • Willy says:

    They are not stupid people behind this scam. By paying mugs to front as Directors they provide an extra level protection. Their names can’t be published directly here because they could claim liable as they are not named on the company records.

    The person dealing with the scam as ASIC is Jennifer Lindley [email protected] Write directly to her.

    The person dealing with the scam at ATO is Jasmine Edwards,
    [email protected] Write directly to her

    If you allow Peter to send your email address directly to me and I am sure you are not a phiser for them CFS guys I will send the other information directly to you.

    They have a guy almost full time monitoring this and other sites so they know what is going on.

    If you play football in Robina you probably know the ring leader!

  • Louise says:

    My sister was contacted approx 14/15 months ago. As a result of this initial consultation, she, my brother and I all joined up. We were directed to the fake websites to verify their success.
    All in all – we have paid them over $25 000 AUD.
    I have only had success with one stock I have purchased – which was pure chance. It doubled in value from $1000 to $2000.
    I initially invested $2000 as suggested when I was first approached. I was guaranteed that I would make the purchase price (> $8000) back in 12 months or my money back. Despite my luck with that one share…my portfolio has now dipped under the initial investment of $2000. I have been going since Feb this year.

  • Willy says:

    Perhaps I could post their Rego Numbers and people could recognise them. What do you say Peter?

  • Willy says:

    If you are on the Gold Coast, Australia (I wish I was!) then I can give you the car regos to track them down. What do you say Peter?

  • Sam says:

    I have just been reading through all the posts on this website and would like to add our experience.

    We were taken hook, line and sinker by CFS. We even checked out the ASIC website first after finding out their ABN. No warnings were found on that website so we proceeded with the purchase of software. Didn’t take long to wake up to the fact that this was a scam.

    Just to keep it short –
    After contacting them several times in writing requesting a refund it was obvious they had no intentions to return our money. Even claiming that it was an unusual request that they had not had before!

    After approaching our credit union and providing evidence to back up our claim, they then forwarded the information on to VISA and within a couple of weeks we were credited with the full amount paid by means of ‘Chargeback’ (I think it was called.
    I had paperwork to show that at some stage our ‘personal assistant’ was associated with cfstrading.com. Once I googled that it gave me the confidence to pursue the matter as cfstrading.com has been a major problem in London.
    I reported it to ASIC, Fair Trading and ACCC.
    Have had no reply from the ACCC (so much for them), Fair Trading indicated that I should have checked out the ASIC website first (which I did)and were not really interested in taking it further.
    ASIC did show an interest and contacted me (Jennifer Lindley).
    Jennifer was good enough to listen to my complaint but after several months, I have just received a reply to say –
    “following careful consideration of the issues you have raised at a senior level, ASIC has determined not to take any further action at this time.” An extremely disappointing result to say the least.

    However, it is easy enough to lodge your complaint online and there is a good chance that if everyone supports each other and actually goes on line and fills in a complaint regarding CFS-live, then maybe we might see a bit of action. I did get the impression that it would be taken more seriously the more complaints they received. Please, for the sake of those already scammed and those still in the firing line, take the time to register an on-line complaint with ASIC or call and ask to speak to Jennifer Lindley.

    By the way, don’t be taken by their fancy address, I have good reason to believe this is what is called a virtual office – exists but not really – only leased short term with a room available for use if needed. Now that’s something else I find deceitful and misleading. And let’s not start on the validity of welikedata.com!

    Good Luck All!

  • steve says:

    Hi, Peter, Can you please pass on my email address to Willy. Thankyou.

  • Adam says:

    I wonder if the name Scott Brennan in this article is the same Scott Brennan from National Lending Group (the company name he uses) NLG2 Pty Ltd (actual Company name) which mysteriously “Phoenixed” from NLG Pty Ltd,( Company is in External Liquidation)I have provided services to this “Gent” without any payment forthcoming, be very carefull people!!

  • Sierra says:

    Hi Peter, I was unfortunately scammed also, it was coincidense that I was starting to look at share trading the time I got the fancy broucher and phone call. With greed over riding my emotion, I took the easy option of purchasing the program. SUCKER born eevryday and that day it was me…
    I told was guranteed a 100% money back gurantee after 13mths if I had not made back the purchased price. After 12mths I was pretty much break even. I followed the program to the letter just to ensure that I received my refund.
    However I never really enjoyed share trading and found my passion in forex trading. I have devoted time, effort and hard work and have started to return positive results. I too have contacted the Financial Ombudsman. After researching and finding many websites like yours highlighting the fact its a scam, I realise my money is lost. An expensive lesson but I just want to warn others to avoid CFS and to invest in your education or find a reputable investment firm to do the work for you.
    Hi Peter can you also send my email to Willy, karma goes around.
    Thanks Peter for highlightng the scam and hopefully others will not get caught…

  • Adam says:

    Sorry O spelt your name wrong Phil Travers

  • Kiskay says:

    Myself and my husband have also been taken for this ride. We forked out $8900 for a CFS software program that crashed our computer. Lucky we never invested any other money into the stockmarketing side of it. We are currently trying to get our money back through our bank through a despute of wrongful jobs received, hopefully all goes well. it was april last year that they got us……if only we had of know about sites like this back then!

  • Prawat says:

    I just wanted more income and was so stupid that time. CFS got my $8,900 last year around March. I have no idea how to take my money back. Today I got a phone call from a guy who work for ESLtrader so pls be careful coz he just said the same thing as CFS said to me last year

  • Sierra says:

    Hey Adam, Who is Rhys Adams and Phil Travis. Are they the dirt bags behind the scam..

  • Sierra says:

    Hey Willy…. can you please name and shame all tose involved. All details would be greatly appreciated…

  • Peter says:

    I have just received the following email from Rhys Adams:

    Dear Peter,

    This morning I was made aware of a matter that requires your urgent attention. At about 9.30 this morning I had a gentleman at my door looking for the director of a company called CFS. After explaining to the gentleman that I was not the director of CFS, nor did I have any involvement with CFS he informed me he found my name and address on your website – qohel.com. Please see the link below:


    Your site shows that I am to be contacted for this company, but as mentioned, I am not the director and I don’t have anything to do with this company. After reading the information on your site it would seem there is some link to dirtydebtors.co.nz who after researching appear to be an organised gang with affiliations to the Hells Angels who had it’s directors arrested only days ago. See link below


    I don’t know why I am being wrongly targeted, but I have spoken with the Police and they advised I contact you to have the information removed. Any criminal offence committed against myself or my family could see you linked as an accomplice for providing the false information. Your site seems to be designed to protect people so it is worrying that it can be manipulated in such a way.

    I hope you can appreciate the seriousness of this matter and I request that you remove my name and address immediately.

    Thank you for your assistance on this matter, I would expect your full cooperation so I dont have to involve the police any further.



    I responded as follows:

    Dear Rhys,

    Firstly, if you are or have been involved with the thieving arseholes at JBC or CFS Live, given the misery and disruption to people’s lives they have caused and continue to cause, you deserve everything you get. JBC, CFS Live and ESLTrader are vile, and so is everyone involved with them.

    The note you refer to was not written by me but appears in the comments.

    I do have a rule about not putting people’s addresses or other identifying information in comments since I am not able to verify this information and there is a possibility of entirely innocent people being subjected to unwarranted questioning. It may be that this is so for you.

    The comment which gave your address has now been removed.

    Best regards,


    Readers please do note that while I cannot verify identifying information you provide, I may still be considered liable for it if it appears here. Please do not post addresses, phone numbers or car registration details – even if you know for certain they are accurate.

    Identifying information can be sent directly to me, and will be passed on to proper authorities.

    I would be interested to hear any comments on Rhys’ email to me.

  • willy says:

    Must be a fairly common name as it is also listed here
    scroll right down.

    I would suggest Rhys has had someone else write the email to you Peter. I doubt with his record he would be going the the Police

  • willy says:

    ESL Trader – esltrader.com
    registered 11-mar-2011

    On their site
    Since its inception, ESL has been a dynamic company offering access to exchanges around the world and providing its powerful suite of products and platforms to both private clients and institutions.

    Just a recent birth I suspect. Same registrant details as CFS-love.com

  • steve says:

    Hi Peter,I asked you on the 2/9/11 if you could please pass my email address on to Willy.Have you forgotten?Steve.

  • steve says:

    Rhys,Bad things happen to bad people.It may not happen straight away but it will happen,name dropping motorcycle clubs has consequences + repercussions.

  • steve says:

    Willy,Peter says your email address does not work,any ideas of how we can make contact. Steve.

  • Brad says:

    I fell for it at the beginning of the year. Lost money from day one and they told me it was the market and it would come good. I stopped two months ago and have been tryiong to get my money back ever since. theyre head office in london is reviewing my request…i think that’s code for im no chance. warning – If it sounds too good to be true its because it is!!!!!!!!

  • willy says:

    Steve what Peter should has said was that my email no longer worked.

    I think someone from Today Tonight leaked my email address to Rhys and his lot because I got a lot of hate mail and threats. No sense using that email!

    Peter has everything, Steve. He has names, addresses (home and business) photos, telephone numbers, car regos, support staff names and addresses. He even has the Larry Pickering backed racing crap distributors names.

    I agree with your comment about Rhys dropping the Hells Angels name. I think that will come back to bite his you know what.

    Never fear about libel Peter as their is enough evidence to tie Rhys to CFS and the rest.

  • Roger says:

    Hi All,

    I’m sorry to read all the sad tales here and figure I should add my experience to help prevent the same for anyone else doing their research and coming across this page.

    I had a phone call and email today from William Bishop (Senior Analyst) at ESL trying to sell me their “Award-Winning ‘ESL Leading Edge Software’”!!!

    He claimed to have worked there for three and a half years and was a very smooth operator but also evasive at times.

    He did give me their ACN number (131814849) when I asked for their ABN number.

    According to the asic site, the company is known as …


    … but had changed it’s name from QUINOX PTY. LTD. on the 5th of July 2011.

    Their Application For Registration as a Proprietary Company was made on 24 June 2008

    See the ASIC page for yourselves … http://www.search.asic.gov.au/cgi-bin/gns030c

    All the rest of his spiel about 400 systems for Australia, with WA and NSW already fully subscribed and SA having only a few spots left … sounds exactly like the claims and tactics made by CFS and GBC etc.

    They have two websites … http://www.esltrader.com and http://www.esl-corporate.com

    Both sites were registered in March this year … 2011.

    I also came across a couple of sites listing articles about how wonderful the software is … one in particular … supposedly by an Anthony Green from Citigroup may easily fool someone who was not wary …


    If this article is a total fabrication as I suspect, surely there must be something that can be done to hold them to account.

    My reason for posting all this is because I am relieved to have found this site with all it’s warnings before getting any more involved … and hope that others who are being targeted will find this also before they get conned.

  • willy says:

    Thanks Roger
    To start Johnson Press don’t have and never have had a financial journalist by the name of Emma Prescott. Phone and ask them +44 131 225 3361

    The esl-corporate web site states “ESL-CORPORATE.COM is the official website of the limited company ESL CORPORATE” A search of company records in Australia and United Kingdom does not produce a company of that name.

  • Peter says:

    Indeed. And neither is there an Anthony Green at Citigroup. The well known Anthony Green works at Macquarie. I have emailed him and asked him to respond to the ‘Emma’ ‘press release.’

  • willy says:

    Surprise. No 131814849 ABN recorded!

  • willy says:

    some gossip. According to a friend of a friend of Rhys’s mate Paul in London (Paul and Rhys both worked for Tomato Technology in London) the person who wrote the article is some one by the name of Gail who works in Oz. Now I notice in a previous post there is a reference to a Gail

  • adam says:

    Rumor is you are coming to NZ for the RWC, Rhys. Better bring your refund card as I will be looking for you.

  • Mary says:

    Has anyone had any success in getting ASIC (or other regulatory body) to take action against these scammers? I’d love to know how many complaints ASIC have on record.

  • willy says:

    Write to Jennifer Lindley [email protected]
    and ask her. Then ask her why she does nothing.

  • G says:

    I was contacted by ESL today. I know they got my number from my business website as they referred to my business name by the title of my webpage (a brand I promote for web marketing purposes) & not my correct business name which is clearly stated in the text below …if they bothered to read it!

    The salesman (aka ‘senior analyst) was called Peter Nicholas with these details on his email to me following our chat; 1300 841 433 | F: 1300 795 811
    A: Floor 46, 1 Farrer Place, Sydney, NSW, 2000
    E: [email protected]
    W: http://www.eslfinancial.com

    From what I’ve read here & on another forum, I was given the same spin & thought I’d investigate.

    My previous job was an Internet marketing specialist & I can quickly see how they tried to build their online presence around July this year (obviously not long after they registered their current site).

    The key thing we need to do is to get either this webpage or another to rank as high as possible on google for keyword phrases relating to their business. The more times we use their business name in text (& ideally link into this site from related sites) the higher this page will rank…so people will find our comments BEFORE they go their bogus site. So here goes…ESL day share trading scam, ESL trader review, bad press, negative, info, ESL software program, ESL dodgy, ESL computer program experiences, ESL trading Australia scam.

    Everyone should mention ESL day trading software scam as much as possible!

    Hope this helps & if anyone would like further web marketing advice to help others avoid such traps, I’m happy to help…(for the record, I didn’t get scammed luckily)

  • willy says:

    They are looking for telemarketers to target suckers in the UK. email [email protected].

    Notice how again they use free email services to hide.

    Peter you have their address in Surfers Paradise for people to visit

  • Dave says:

    Rhys Adam (Im pretty sure it was Adam, not Adams) was the director of CFS in the UK.I know as I used to work there.I could probably post a picture of him if need be.His 2nd in command was a guy called Paul Giorgiou (fake name Paul Day).

  • Dave says:

    I may have a picture of Rhys.Please post your email adress if you would like it.

  • tony says:

    Would love to see his face!

  • dravid says:

    Do you think he’s cute?

  • wallace says:

    i have a pic of snoop dogg 2!

  • Dave says:

    Hi Rhys/Paul

  • Anne says:

    Thanks everyone, you just saved me $9200. Was contacted by ESL today and despite my better judgement was curious. Will be contacting as many people as possible to pass on information.

  • Hater says:

    I agree we need to keep mentioning ESL so this page comes up in google searches.Then people will know its a scam.

    ESL scam
    ESL trader scam
    ESL software scam

  • Grateful says:

    This blog has saved me wasting $9,200 on ESL software.

    It appears to me that ESL Software is the latest incarnation of this scam.

    ESL appears to be very impressive.

    A search on Google for ESL took me to:
    * The ESL website http://www.eslfinancial.com which was similar to the beautiful glossy booklet that ESL sent me unsolicited
    * The International Stock Exchange Commission http://www.stockexchangecommission.com from whom ESL have won an international award
    * The Small Business Guide http://www.smallbusiness-guide.com which contains a glowing review of ESL
    * eshare magazine http://www.esharesmagazine.com/and_the_winners_are.php that lists ESL as one of the top 5 performers

    I sent an email in reply to their message and requested their ABN plus AFS licence number.

    I received a phone call and was given the ACN as 131 814 849. This was listed on the ASIC National Names Index as: ESL INVESTOR SERVICES AND QUINOX SYSTEMS PTY LTD.

    ESL informed me that as ESL were selling the software ESL didn’t need an AFS licence.

    I was also told that ESL was selling a limited number of ESL software licences so that ESL couldn’t manipulate the market. ESL are full of themselves if ESL think 400 amateur traders are going to impact the market more than the institutional investors. I guess ESL would only recommend dogs and so they may have a chance of effecting those share prices.

  • adam says:

    Interesting that the stockexchangecommission.com was only registered 5/18/2011

  • Florence says:

    The ESL tribe are still at it – with the pressure to sign up intense. I’m interested in share trading, but this seems too good to be true – and it seems my suspicions are founded. So, my $9,200 is safe!! Their sales tactic is to hammer you to join, with nothing substantial to back up their promises, just hard core pressure – a real turn off for me.

  • Suzy says:

    Can you just imagine the scum bags who work for these people. The people who man the phones, who create the fake websites with awards, who write the fake stories. They obviously don’t care that there are victims of this scam.

    I bet the low lives think they are good citizens

  • Phil says:

    Peter, Willy says you won’t accept any of his posts. Why not?

  • Peter says:

    Hi Phil,

    No that’s not the case at all. All of his posts have been approved, except for a very few which seemed to me were unfairly critical of other commenters, or which included names, addresses, etc of people allegedly involved in the JBC/CFS/ESL scams.

    Willy may be right about who they are and their contact details, but unfortunately it is too legally dangerous for me to publish them.

    I am happy to put people who want that information in touch with him directly – except that the email address I have for him no longer works.

  • Josh says:

    That would also be illegal Peter as you have no proof and these so called know it alls could take action into their own hands which would be make you liable, a very illegal matter indeed!

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