Just ran across this letter at
www.complaints.com AJ
Optionetics. I am seeking a refund of my money paid and i am seeking an order prohibiting Optionetics from practicing business in the United States.
Jeanette Patton
Refund Manager
255 Shoreline Drive #100
Redwood City, CA 94065
George@optionetics.com
Dear Ms. Patton:
I am writing to seek a refund of my tuititon that I paid to attend the Optionetics seminar. I attended a preview meeting on June 23, 2004 and the lecturer was Mr. Bolinder. He gave his presentation at when I expressed concerns to the representative who took my order that the material seemed very difficult to understand, that individual said that during the two day seminar the material is presented very slowly and that shouldnât be a concern. I paid my tuition and I was planning on attending the July 6 and 7 workshop in Los Angeles.
I called optionetics a few days later to clarify my understanding that after attending the two day seminar I would be proficient in your strategies to begin my new career as an options investor and begin earning very good rates of return on my money invested. I explained that I have $600000 to invest and the representative I spoke to said that I should do very well since there is a triple guarantee on the monies traded. I was looking forward to attending the seminar and beginning my new career.
On July 6, the first day of the seminar, the presenters spent the first hour welcoming old members and people under the age of eighteen. He then used the same analogy that was used during the preview presentation on June 23 where he said that it âisnât necessary to understand how the car is able to run as long as you know how to drive the car.â At the break time, I expressed my frustration to one of the representatives that I was having a difficult time understanding the material being presented. The representative implored me not to seek a refund, telling me that I can attend the workshops as frequently as I wanted and that I should give the workshop more time and that I would get a better understanding of what was being taught.
Later that afternoon, I was still very confused as to what was being taught and I expressed my frustration that if I donât understand what is being taught, I am falling farther and farther behind. My inability to understand subsequent concepts was further impaired since the concepts previously taught built upon one another.
On the second day of the workshop, my concerns were the same and the representatives I spoke with echoed the same comments that I heard the previous day. At the end of the two day conference, I donât think that I understood more than 10% of what had been presented.
I listened to the cd, hoping that concepts would be explained in greater detail since the time constraints werenât in place that were in effect at the two day seminar. I still had a difficult time understanding the material. I then attended the workshop again on August 1 and 2 in Los Angeles, but again, I had a difficult time understanding the material being taught.
The seminars proceed at a very quick pace and the written materials and cds donât adequately explain the concepts and the materials would be better had more detailed examples been provided.
After the second seminar, I called Optionetics and I was told that I needed to write a letter seeking a refund. The person told me that I should not have signed up for the course since the refund policy says that I need to complete a certain number of trades without success before being eligible for a refund. Since I am very confused on a lot of the concepts, I donât want to expend a tremendous amount of money investing in options since I donât have an understanding of the material.
Had I known that the material being presented wouldnât be explained in great detail, I never would have signed up for the course. Perhaps, it was unintended, but I felt that a âbait and switchâ was in effect when the representatives were saying one thing about the material being presented slowly and with numerous examples and with what I received; a course that was advanced and not clearly taught.
I am seeking a refund of the $2995.00. Please send my refund to me.
Sincerely,
Michael B
