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MASSIVE SCAM ALERT

Warning - Do not give money to these people under any circumstances.


If you are effected please let us know.


We are often asked by people if we can help recover money owed to them by Bookmakers, in which we have a success rate of around 95%. Recently we where asked by a person we know if we could help recover money invested in what turns out to be a massive scam (Ponzi scheme). This is obviously something harder  since we have little leverage and don't know who's responsible. By leverage we mean unlike with bookamkers they don't have licenses or even a registered company. Without having a real name litigation is almost impossible. All the same, we will at least endeavor to stop these people scamming others.


For the record these scammers trade as www.sportstradenetwork.com . The site is horrible and rated about 17 million by Alexa, that in itself suggests they receive circa10 hits per day. Nevertheless, that doesn't concern these ruthless people, since they had had68,000 followers on Twitter . We have no idea how many people of the number of people tricked, but we have now found a handful.


Like we already mentioned, such a story would be hard to sell to a moderately experienced investor so many people will be embarrassed . From their literature, these people claim to be part of 888 Holdings PLC (exhibit 2: Our licence number is  40996) and (bottom) - Sports Trade Network is owned and operated by Cassava Enterprises (Gibraltar) Ltd. Our registered office is 601/701 Europort. Europort Rd, Gibraltar. We began trading as a company in 1997 and have various separate companies under our main company, 888 Holdings PLC.


In this next part they lose credibility to any experience investor has they try and cloud peoples vision by suggesting they have won awards. And, they aim to get people  believing that they have special trading rights. the part we refer to is  this so called inner circle for bookies to trade amongst themselves at inflated odds :    


The next bull (from them) : we use our own specially designed software (Our trading software won 2 prestigious awards in 2013 and is licensed and regulated by the UK Gambling Commission) that monitors over 40 bookmakers. This software is constantly reviewing markets and studying price range moves. We hold corporate accounts with 47 bookmakers and we trade straight from our central fund and then each day update member accounts and send them a full days trading update and balance. We have to maintain member account volume to retain the corporate accounts. As you can imagine, its near impossible for a regular bettor to trade like this without getting their account closed very quickly and we have to show a certain percentage of trade customers so that they know that we are not just using corporate accounts for our own personal trading.


One of their tricks is to blame a missed trade for the loss of a clients money. They offer no proof and nor do they advise the client of who they supposedly. And, then comes the next lie has they guarantee againstbad trading: . In the unlikely event of a miss trade or the market closing mid trade we would credit the members account back to the days starting amount ensuring that a members account never drops (other than after a withdrawal).


In the extracts from the mail below, you can see how they use people who joined to look for others, like a snowball system with the promise of big profits. It´s disgusting how they try and get people to target family and friends to lose their money too. They even discuss a German branch and people who have been bought in by the person who is making the complaint!


OUR ACTION (To date)


These are the supposed names: Stephen Bryant-(trading manager). Philip Wright-(trading manager- team 15). Clive Richards-(account director).


1. We have already had the people involved make an official complaint to the fraud squad, a reply as been received in which they say they will investigate. Knowing the UK police, that won´t be any time soon.

2. We will send the all copies of mails to 888 holdings and see if they have any comment or need anything else.

3. The UK gaming authority as been informed and we await a reply (usually slow)

4. We have posted on the site and taken it to social media.

5. A document is being prepared for the bank where the funds where sent : Sports Trade Network. IBAN GB61 HLFX 1108 2110 9237 61. BIC HLFXGB21W31. Great Britain. Halifax PLC. Wellingborough



EXHIBITS FROM MAIL 


I have been speaking with some managers today and they are very interested in you adding members from Germany and you building your account up and your own small business to help you get the money to get started. They are willing to allow you to have 5 members straight away and they will pay you a bonus of £500 per member that joins you plus 10% of their profits for the first 3 months. This will not come from their profits but as an additional payment made to you. Once you have 5 members they will increase the bonus to £750 per member and 15%. 


I think that from that you could build a big business in Germany from your office. The money they are giving you when building your first 10 members is to help you fund the business growing.


Is this interesting to you?



Stephen


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1.


I hope you are well.


We are looking at you visiting between April 22nd-24th. 2 Nights around this time should be fine and we are happy to pay for your hotel. This is the hotel that we use for visitors:


Premier Inn London, Wimbledon South Hotel


For your records, this is our address:


Wimbledon Bridge House, Hartfield Road, London SW19 3RU


I have spoke with management about a contract and they said that they could look at starting one from 1st May. It would be on a 50k starting salary plus commission from your members accounts.


You would need around 5 members already trading before this starts but as I said yesterday we would pay you bonuses to help you get set up.


Stephen


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2.


For your first member the answer is, he can withdraw any money at any time. He just needs to let his Trading Manager know (me for now and you after May 1st). 


Here is the link to the gambling commission:


http://www.gamblingcommission.gov.uk/Home.aspx


Go to "Find Licences" and "Operators Licence" and you can search our licence details. Our licence number is  40996. 


We have been looking at potential business and we think you could have 100 members by the end of the year based on other Trading Managers around Europe. 


We are very excited about your future with us my friend. 


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3.


Andreas has had his first update, this is just to show that from 6am his account is trading. Your £500 bonus will now be transferred to your account and you will begin receiving 10% profits of his account each week.

 

Congratulations from London on having your first member active, the Germany Office is now officially open. :D

 

Andreas can do a 100% cash match up to £5000 before Saturday if he wants. Maybe you can explain this to him as the bonus offer is only open for a short time. Don't forget that the higher his account the more money you make in member profits so it is in your interests to have members take the offer and grow their account. 

 

So now we wait for member 2 to fund their account and start trading and more members to come? Now you can start to grow your office and start making real money.

 

I am really pleased for you my friend.


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4.


How long can you leave act be deposited funds?

 

You can take your money out any time you want. You can take it ALL out whenever you want if you wanted/needed to.

 

Why don't they put their own money and want Money for Customers  ?

 

We can only  "Offset Trade"  like this because we have access to Corporate Betting Accounts. These are large betting accounts that are used every day by bookmakers to offset risk and liability by betting and trading between themselves. To hold and keep these accounts we are regulated by the UK Gambling Commission and the Commission state that ALL bookmakers and companies using Corporate Accounts MUST be processing Offsetting transactions for a MINIMUM of 84% Customer Volume.

 

Ladbrokes and Coral for example can justify this simply by being able to show the amount of bets placed in shops and use that volume but Online companies like ourselves have to provide evidence that we are trading to 84% for members.

 

We of course do bet/trade for ourselves and this is a big part of our operation and we trade for ourselves to around 12% of the days volume but without a minimum of 84% members volume we would not be able to retain our Corporate Accounts and would not be able to operate. The UK Gambling Commission Audit this every 3 months so it is in our interest to grow members volume as much as possible as it means that we can trade for ourselves to a higher percentage.

 

 

I know that it is very hard but eventually people understand. It is just hard when you first start as you need to get to 5-10 members and it does take a little bit of time but once you are there it gets easier and friends tell friends and you grow.

 

 

Stephen


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5.


Good Afternoon my friend,

 

The first members account becomes active tomorrow and will start trading at 6am .

 

A new member needs an account to fund their account and they have to withdraw to that account but it doesn't need to the THEIR account. They can use a family members or a friends bank ect but the withdrawals have to go back to the same account. Many of our Trading Managers let members use their bank account for funding and withdrawals.

 

 If you had a good friend of family member ect and you wanted to set an account up for them you could fund it from your account for them.

 

Your hardware is perfect and I think will be fine for you, we are all really excited to meet you and show you the software, operation and give you all the experience and information to build your team.

 

How is the member recruitment going, you will be needing lots more and I think that I will start sending you our member data straight away so you can start to store and manage that in your office. It will be better that you have it from the start.

 

So 1 member set to start, when does the next one fund and are there more coming?  Don't forget that your bonus and weekly profit % goes when you get past 5 members. You should look to get to 5 as quick as possible now and then build to the 10 that will be your foundation and will make you the money to support your own office.

 

 

Stephen

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6.


As I said, getting the first 5 members is the hardest. In a few months you will probably have 25/30 and people will be begging you to join. 


So now is the challenge to get 4 more members as soon as possible. Management asked me today how you are getting on as they have been arranging your visit and contract. I did say that new members are slow for you but you are working hard. 


You just need to get the first 5 as quick as possible. Even if they are family and friends. Every trader must have a minimum of 5 just to have a contract.  I remember one Trading Manager who borrowed the money at the start to set up 5 accounts for friends and family just to get started. He has 100 members now and has 2 offices. It gets easier once you have members and are making regular profits. 


In a year we will remember now and laugh that you only had 1. I think in a year you will have 50+, traders working in your office and you will be making crazy amounts of money each day. 


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7.


Good Afternoon my friend,

 

The first members account becomes active tomorrow and will start trading at 6am .

 

A new member needs an account to fund their account and they have to withdraw to that account but it doesn't need to the THEIR account. They can use a family members or a friends bank ect but the withdrawals have to go back to the same account. Many of our Trading Managers let members use their bank account for funding and withdrawals.

 

 If you had a good friend of family member ect and you wanted to set an account up for them you could fund it from your account for them.

 

Your hardware is perfect and I think will be fine for you, we are all really excited to meet you and show you the software, operation and give you all the experience and information to build your team.

 

How is the member recruitment going, you will be needing lots more and I think that I will start sending you our member data straight away so you can start to store and manage that in your office. It will be better that you have it from the start.

 

So 1 member set to start, when does the next one fund and are there more coming?  Don't forget that your bonus and weekly profit % goes when you get past 5 members. You should look to get to 5 as quick as possible now and then build to the 10 that will be your foundation and will make you the money to support your own office.

 

 

Stephen

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8.


I have been speaking with some managers today and they are very interested in you adding members from Germany and you building your account up and your own small business to help you get the money to get started. They are willing to allow you to have 5 members straight away and they will pay you a bonus of £500 per member that joins you plus 10% of their profits for the first 3 months. This will not come from their profits but as an additional payment made to you. Once you have 5 members they will increase the bonus to £750 per member and 15%. 


I think that from that you could build a big business in Germany from your office. The money they are giving you when building your first 10 members is to help you fund the business growing.


Is this interesting to you?

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9.


Good Morning,


I have emailed accounts about getting you a copy of a contract, they said that one specific to you isn't ready yet as you are not coming over for a few weeks and you haven't fully confirmed your commitment to joining but they will get you a general version sent over next week some time. 


You can show your possible new member our website, everything is explained on there about miss trades and credits and its easier to read ect.


I have changed your withdrawal amount to £2000 on Monday morning and then £500 from 06/04/15.


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10.


MISSED TRADE!!!


Your account suffered a Market Close Miss Trade in the UMF Grindavik v Fjardabyggd Match. The Miss Trade was in the Under/Over 1.5 Goals Market. At the time of backing the event the match had entered into its 94th min with the match having 4 mins of allocated extra time. Our software highlighted a scalping opportunity on the Unders Market with the game currently at  1 goal and activated a trade.

 

The software leads with the predicted outcome trade (bet) i.e the Unders and then once complete it trades (bets) the alternative option. During the systems backing process (When the initial bets were placed) there was a match event that froze the betting, a goal was scored in the 95th Min (1 min after the allotted time). It is normal system procedure in the face of a market return for it to find a recovery position to offset the loss and or bring the account into profit, due to not only the time remaining in the match the betting did not return on the even exposing accounts to a loss and also giving traders no recovery. The goal came outside of normal time and allocated time, it really was a freak event that could not be predicted or corrected.

 

 

The Miss Trade was reviewed and there was no error in the software activation or the traders decision making, it was just a freak event that we could not recover from. Your account now sits at 100% credit funds and as you know (and is clear on our website), accounts can not trade from this position.

 

The standard procedure when this happens is that the account miss trade is credited (this has happened with yourself) however due to the relative small size of your account it was not able to sustain a miss trade of this size and has moved to 100% Credit Funds. Due to issues in the past with members attempting to abuse the Credit System we no longer allow members to trade with an account that is 100% Credit Funds, the reasons behind this are in more detail on our website however this left your account unable to trade. The standard procedure is that accounts need to be 50% Cash To Credit funds to trade but given the relative short length of time that you have been a member I have referred this to management to request that an alternative be found that supports you better given your situation is not specific to the reason behind the rule (I am hoping that they will allow you to continue trading with 100% credit funds) however I can not guarantee the outcome but feel that the question needs to be asked. 

 

I will update you as soon as I hear any more information.

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CORRESPONDENCE MAIL (After we tried to gain compensation for the client)


Many thanks for your email.

 

I would firstly like to say that I understand your frustration and I appreciate how annoying losing in any form of gambling can be so I can in part accept some of the negativity in your email but I feel that you have gone too far with some of it.

 

It is my job to support your trading and help your account re build. In your email you say that you wish to decline all options, I thought that you wanted to re build your account, re build your cash and get back trading? I advised option 4 as it would se your account trading again and would help you recover the money you have lost, I do not understand why you would reject an offer that required no additional funding. All I can do is hope that at some point you see sense and decide to return and recover the cash that was lost in the terribly unfortunate miss trade.

 

I now need to discuss the other points that you raised in the email as they are very serious.

 

 

With regards to your friend and the threats to post articles about our company on the internet, I have to warn you that should you/he publish a false statement that is damaging to our companies reputation then it will be passed to our legal team should we feel that it is libelous. Should it be on social media then we will request that the relevant accounts are closed and if it is on a forum or website we will contact their hosting and request that their services be restricted. False statements are very serious. We have been advised that he has already posted false allegations on his Twitter account and we will be contacting our Corporate contact there requesting action. With regards to Twitter, our account was hacked yesterday and the person/people responsible has started tweeting and has created a fake account under our name, is this also your friend because it seems very likely that it is so we will take all steps possible to stop him. Hacking a Twitter account and damaging the accounts contents is a criminal offence and I hope that it isn't your friend but again you have made many threats so it seems likely. We have reported it to Twitter and their Corporate Team will re investigating this tomorrow for us.


As you have made reference to Companies House, our Banking and the Police I have passed your email to our accounts manager who has in tern passed it to our legal team. They have advised me that given the concerns and content in your email I should have no further contact via email with yourself unless it is regarding the re activating of your account. I have also been advised of the following:


Given your email our legal team will now create a file documenting all correspondence with yourself and Sports Trade Network staff and also copies of all trades and processes specific to your account. This will also include all elements of the miss trades placed on your account. Should the Gambling Commission request an audit then that file will be made available to them but please be aware that even in the eventuality of them finding that a trade process error is apparent, they can not request that any funds be returned to the member. The Commission have it in their power to fine us however I can assure you that all trades are reviewed and all processes correctly adhered to but again it is your prerogative to contact them. They are also compiling a file for the police and will be passing that to them should they make a request for information. This will also include all emails and correspondence between yourself and Sports Trade Network Staff. It will also include all trade activity relating to your account. All trade and account management activity is open book so should they require it we will provide duplicate copies of all the email that you have produced for them plus any additional information that we feel disputes any claims you may make. As a company we are used to people getting upset when they lose so this is not the first time that a disgruntled member has made threats so we have to protect ourselves by providing all the authorities with the trade details, correspondence and financial details of the member in question. It is just very sad that it has got to this situation with yourself especially as you had applied and was going to join us yourself as a Trading Manager.

 

As you know I was attempting to recover your account, It was the case that I feel that this is no longer appropriate given the tone of your emails, accusations and threats. Your account will stay pending with the full credit funds intact until a time comes where you may change your mind.The official status of your account is now: Pending and your account has a £4327.86 credit fund and under our trading rules you are now required to fund that account to 50% to re activate it. In your email you demand that the money that was lost in your betting account be returned, you are a man with a lot of gambling experience so you know how this is not possible. The cash was lost in the miss trade and the funds we added to your account are credit funds and as you know they are non withdrawable.

 


On a personal note I can only apologize for the way that your account has gone but also for the miss trades. I have worked very hard to help your account develop and have tried at all times to support you. I feel that as your account manager I need to make a few points here given your accusations at the company:


You joined a Betting service. This service and our company are always very clear on the risk of losing, it is explained on our website and you mention No Lose but as an intelligent man you know that there is no such thing as No Lose. The only guarantee that we make is that your account will no drop and it hasn't and we guarantee to credit your losses, and we did with your account..We place bets that make up a trade and we are clear that only when a full trade is placed that it is No Lose but we supported this with a credit system. You were aware of all this and you knew the risks and was aware of the credit system and process. You were also aware that accounts with 100% credit funds can not trade without refunding and even after a miss trade you funded again. I have explained the process every step of the way and you have even had direct contact with management who have assisted so to say that we have not helped or supported you is unfair. You were aware of the risk and the worst case scenarios as it is on our website an we have even spoken about it on the phone. I can not believe that you would demand money that has been lost on a bet back and if we do not give it back you threaten us with various acts, as I said you are a gambling man and what you are doing is just like losing money in a betting shop and walking back in the next day saying "I lost my money but I want it back no so give it do me or I will do all these horrible things". This is just crazy to think that any company would give anyone their money back and in fact your demands are bordering on Blackmail. I think your friend may have caused you some serious problems when I was trying to help recover your losses through trading again. Kosta, I know you think the worst but your account has been very unfortunate and you have suffered a seriously bad miss trades that have been reviewed and you know the reason and outcomes for these miss trades. 

 

As I mentioned, our legal have now requested that all correspondence that is not related to your account re activation be directed to them as they are now recording all documentation for the relevant authorities however I can only hope that at some point you opt to return to trading and at that point I hope that we can recover your account and get it back to where it belongs and more importantly recover your faith in the trading operation and our software.


Best Regards

 

 

Stephen Bryant

Trading Manager

Sports Trade Network

020 8935 5766

 

www.SportsTradeNetwork.com


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EARLIER POST:


Please be aware of this massive scam from a company claiming to be connected with 888bet and Cassava Enterprises. From the writing these people are clearly Asian and from what we understand on Twitter, many people have fallen for this filthy trick.


They call themselves : sportstradenetwork.com . Below you will find some correspondence from a person they tried to get on board. Please do not fall for such crap. …………….If it looks too good to be true, it probably is!!


THE CORRESPONDENCE:


Many thanks for contacting us regarding our Trading Service, I will try to take you through the trading process in more detail.


In this area of the company we manage members accounts and we trade them on a daily basis using trades on our site and posted on our Twitter. In these trades as I think you have seen we back all eventualities of an event with different bookmakers to guarantee you a profit. Depending on the size of your account you are set a Max Daily Profit. The current levels of Max profit range between 5% and 15%, we trade your account each day to the point that you achieved this. Once you have hit your daily cap we continue to trade to 5% over this amount. We then retain that 5% as our profit so there are NO hidden charges or costs involved, we only make money once the member hits their max daily profit. Each trader manages between 30-40 accounts and trades on a 24/7 rota. Members accounts are split between 3 traders over a 7 day 24/7 period so even though you have one main contact your account is always trading.


We use our own specially designed software (Our trading software won 2 prestigious awards in 2013 and is licensed and regulated by the UK Gambling Commission) that monitors over 40 bookmakers. This software is constantly reviewing markets and studying price range moves. We hold corporate accounts with 47 bookmakers and we trade straight from our central fund and then each day update member accounts and send them a full days trading update and balance. We have to maintain member account volume to retain the corporate accounts. As you can imagine, its near impossible for a regular bettor to trade like this without getting their account closed very quickly and we have to show a certain percentage of trade customers so that they know that we are not just using corporate accounts for our own personal trading.


The software is set to simultaneously trigger both (or three should there be a multi option) bets at the same time and there is a millisecond delay at most. In the unlikely event of a miss trade or the market closing mid trade we would credit the members account back to the days starting amount ensuring that a members account never drops (other than after a withdrawal). The ability to offer this is a reflection on the development and advancements in the software, we have been offering this now for 30 months.


The average trade profit is 2-5% however we see trades up to 8-9% for a single event. With a basic account with a £1000 starting balance our members would have a 5% starting level and this would grow at £2000 to 7%. So in a day (using Day 1 as an example) you would trade to 5% and make £50. We would continue to 10% and retain the 5% ourselves giving the member however you would have a day 2 balance of £1050. If you started with £2000 for example you would have a starting Daily Max Profit Cap of 7% and make £140 and we would carry on to 12% and retain the final 5% as our commission. We never take more than 5% and we take it after the member has made theirs to incentivise the traders to push for a full days profit for the members, the company and themselves. Of course the member does not hit the max profit everyday however our operation is 24/7 and the volume of qualifying trades is only growing so the future looks very positive. The growth over the last 3 years has been amazing. It is also the case that should we not hit your max daily profit % then we can not trade for another 5% so we only make any profit once you have so the traders are very active on each account each day as they are targeted and incentivised on getting their members to full daily profit. Please be aware that these are top line profits and are reliant on market volume availability.


Please be aware though that there may be days where we only trade at 0.5-2% ect. The top daily profit level is not guaranteed and we do attempt to hit this but on a weekly basis you should consider 3/7 days of hitting top level and 1-2 days of 3-5% and 1-2 days of 0-2% as a fair average over a weeks trading. I like to be clear on this as members in the past have started out expecting their top daily profit EVERY day and this just isn't possible.


Most members have a set standing order for withdrawals. The norm is for you to have a weekly/monthly withdrawal standing order depending on your own personal preference however some members allow their accounts to grow and climb the daily profit brackets. Withdrawals and deposits are via Business BACS straight to members accounts on any day the member requests. The size of your account is again personal choice and we have members with varying account sizes. We have members that hold accounts at £1000-2000 and some that have very sizable corporate accounts that are well over £30,000. The only thing that differs as your fund increases is the daily profit level so again the amount you start with is all personal preference based on what you want out of your account. The highest Daily Max Profit Level for standard members is 15% and our profit after the member has made theirs is always 5%, this never rises.


The key to your funds success is that we use our own specialist software to monitor and identify the trades and that part is all automated. The traders role is to quantify the trade and place it for as many of their accounts as possible before the market closes or value is lost.


UTTER BULLSHIT:


As you may have gathered, Sports Trading Network is the brand operating name for our trading service only, our trading arm has been operating for 3 years and is regulated by the UK & Ireland Gambling Commission. Our main trading partner is Cassava Enterprises (Gibraltar) Limited who also manage 888 Sports Betting & Poker. A number of our traders work across duel operations. As a UK based company we are legislated by and have to be registered with and adhere to the rules of the UK Gambling Commission. The Commissions regulations cap members account at  £15,000 for the first 3 months of trading and  £85,000 thereafter as this is the figures laid out by the Financial Services Compensation Scheme and is the insured value.

Sports Trade Network is owned and operated by Cassava Enterprises (Gibraltar) Ltd. Our registered office is 601/701 Europort. Europort Rd, Gibraltar. We began trading as a company in 1997 and have various separate companies under our main company, 888 Holdings PLC.


We trade on the London Stock Exchange as 888 Holdings PLC, here are our trading details: blabla!