Make a Difference

JBC Share Trading Software Part Two

A brief update to my earlier article on JBC.

Others have been caught by this scam.

JBC have set up fake websites to give their share trading /stock trading software credibility. This is dishonest.  It shows clearly that this is not simply a product that does not work for some people, but a deliberate scam.

You can complain via the Australian Securities and Investment Commission.

Or via the Australian Competition and Consumer Commission.

Or Scamwatch.

Since JBC is based in NSW, you could also lodge a complaint online at the NSW Fair Trading site.

Please email me or comment if you have been contacted by JBC, or if you have purchased their product. The more people who write or complain about JBC, the sooner they will be shut down, and the more people will be saved from losing hard earned savings or superannuation.


  1. David

    I am the idiot friend who fell for the JBC scam.

    I have tidied up the message I sent to Peter and sent it as a complaint to the Australian Securities and Investment Commission.

    I have copied it here if anyone is interested. I am sure others have had similar experiences.

    This is a complaint about JBC stock trading software.

    JBC’s address is
    Floor 32
    1 Market St
    NSW 2000

    Their phone number is 1300 001 609.

    Their documentation does not list an ABN or ACN.

    Their website is:

    I was contacted by JBC on the phone in May of this year, and agreed I would be interested in seeing some of their material.

    They sent a professional looking brochure, which promised results of up to 18% growth per month by day trading on the ASX using their software.
    During a follow-up phone call I queried these figures. I was directed to websites which appeared to offer independent confirmation of JBC’s performance. These were:


    I now believe these are not legitimate independent websites – there appears to be no publication called Sharesweek, nor any organisation called the International Stock Market Assembly – and that they were set up simply to reassure potential buyers about JBCs credibility.

    Eventually I agreed to buy, but said I would not authorise the purchase or any deduction from my credit card over the phone. The price was $8900. I asked for a tax invoice (dated in the 2009/2010 tax year)and a written guarantee. Once I had those things I said would either send a cheque or authorise a credit card transaction in writing, with payment after the end of June so that the cost could be a tax deduction in the 2009/2010 year.

    The salesman said that there was only one license left for my state, that they were in demand, and if I wanted the license and software I would need to give my credit card details to hold it. JBC would not deduct any funds until I had the documentation and authorised the debit. That all seemed OK.

    A few days later I noticed they had debited my credit card account with the full amount. A couple of days later I received the paperwork. The invoice was dated in the 2008/2009 year. I rang straight away, annoyed about the date on the invoice (which did not list any GST or an ABN) but more annoyed that they debited my account after I specifically told them not to, and they said they wouldn’t.

    The salesman said he had come under pressure from the directors because this was the last license, it was not fair to other investors to hold it, and so they had to debit my card to keep it for me. I could cancel the payment and get it reversed, but the license would show in their system as available, and would be sold to someone else. He suggested I complete the paperwork and try the JBC software for a while. If I wasn’t happy they would refund my payment, or I could just ask my bank to do a chargeback.

    I had about $4800 to invest in stocks. One of the companies the program told me to buy was delisted a few days later – $1200 gone. Another announced its intention to delist. $600 gone. Two others dropped to half their value a few days after the JBC program told me to buy them. After a month my $4800 was worth less than $2500.

    I rang JBC to say I definitely was not happy and wanted my money back. The receptionist said she would pass on my message. No one rang back. I sent an email saying the same thing. No reply. A few weeks later I had rung JBC again and sent another email.

    On 12/10/09 I received a letter from JBC saying that the sale had become binding once I opened the package and that I was not entitled to a refund.

    I have asked my bank for credit card chargeback, on the basis that I did not authorise the debit from my credit card in the first place. But I will not recover the money I lost as result of investing according to the recommendations of the JBC software.

    I am happy to provide a signed or sworn statement.

  2. Kevin Kowald

    I had the same thing – this is the last license, just give us your credit card details to hold it for you, don’t worry, they are in demand, so there’s no problem giving you youir money back if it doesn’t work for you.
    It started to smell a bit fishy, so I didn’t give them my credit card. But what almost convinced me was this web site – another fake?

  3. Karl Hills

    Thanks fellas. The guy that contacted me was David Moore. All the other details you talked about – website, money – was the same, except I was told there was 4 licenses left and his wife was doing the scheme, almost pocketing $28 000 a month. It all seemed too good to be true, and was actually going to give it a go. Sorry for your losses in money, but you have just saved mine.

  4. David

    Just thought I would let you know, I have now lodged complaints with the Australian Securities and Investment Commission, the NSW Office of Fair Trading, and the ATO (for non-collection/non-reporting of GST). I have also spoken with my bank, and their fraud investigation team is going to review JBC. So far feedback from these groups has been positive, so even though I have lost out, hopefully other people will be saved from the JBC scam.

  5. Sheila Graham

    I was just about to be sucked into this when I found your blog. I asked the guy who talked to me (he said his name was Chris) why, if this was such a great way to amke money, 18% per month, he was trying to sell it over the phone. He told me the $8900 version was the lead in to their corprorate software which made 25-30% per month, but cost $32,000. He said JBC took 4% of the profit from trades made by their corporate software and this was how they made their money.I just about bought it after he told be they had won an award from the International Stock Market Assembly, the website looked authentic, and told me about Homebiz Guide, which also looked OK to me.
    Thanks for the warning.
    The sooner these crooks are shut down the better.

  6. Mike

    Thank you people. Isn’t it fantastic to have this sought of medium. I have just been contacted by Scott Brenhan of JBC after the glossy brochure delivery during the week. It certainly sounds great and after reading your experiences went on to other websites and it appears most definately a scam. Scott gave me ABN’s etc and they check out as a registered company….that does not necessarily mean a reputable company…Thanks again Mike

  7. Michael

    How gullible was I, I received an initial phone call which resulted in a glossy brochure being sent. A few days later I got a phone call from Bruce Jones, who very slickly convinced me to sign up and purchase one of only a limited number of systems available to my state, sounded plausible, and as I was interested in day trading sounded like an opportunity too good to miss. The same info, only he was doing the investing making about $25,000 for the year. He also suggested Comsec, cheap trades. And pointedly referred to Mastercard as the preferred means of payment of most of his clients, probably got my details from them. Luckily,before giving my credit card details, my better half did some very simple internet surfing, I hadn’t done that, and found a website that placed a little doubt. The fact that a quick search of JBC only produced two sponsored links should raise some doubts. I suppose the old adage rings true if it sounds too good to be true, it is.

  8. Richard Hall

    I have just been contacted by Mike Boyd from the Mayfair London Office number 08009172543 and spun the same storay above 1500 licences and they are downb to last few 18% profits never ever had a client lose money. £ 7990 for a licence etc,etc,.

    So glad i found this, while i was on the fone to him, told hiom about all the comments above he hung up !!! quality. So sorry so many of you have been caught out, looks like they are really targeting uk now!!!

    OTHERS BEWare if its sounds to good to be true then it isnt.

  9. Kerry

    My husband received the glossy bruchure from JBC at his workplace.
    I received a phone call at his office from JBC when he wasnt there.I told my husband that nobody has the magic wand to predict future share market prices and then I googled them.
    Well here I am and I hope they are shut down so vulnerable people are not sucked in like my husband nearly was.

  10. Ray Collins

    Thank you, thank you, thank you all. Your forum just saved me the same $8900. Today was the ‘last day’ to sign up for the ‘last licence’, same old speil. The same as some of you, I was convinced & ready to pay the money for a ‘chance of a lifetime’ until I asked a financial advisor about JBS, who told me to read this forum before signing.
    We should all keep communicating to stop these scammers.

  11. Dave Parslow

    I have had the two phone calls and the glossy brochure, always suspicious of things that sound too good to be true, as generally they are some sort of scam. As a regular investor I was naturally both curious and suspicious so decided to browse the net and get some background on the company, hence I am here. What a wonderful thing the web is and now I`m looking forward to my third phone call to suggest to JBC where they can put their software!

  12. Sar

    Thank you! I knew it sounded unusual that they only had 4 license left in NSW and that it was so expensive. Sorry for your loss though.

  13. Maggiesu

    I’m so glad I found this blog. I keep getting phone calls from JBC in London trying to get me to ‘invest’ £7,999 in their foolproof system..!
    I was given the same story as everyone above. I was silly enough to pay £50 to reserve a licence but I got worried that they would take the full amount so I decreased my card limit to as low as possible so that if they did try, it wouldn’t pay out.
    I am so sorry for people who have lost a lot of money – they are SO plausible when they phone, it’s easy top get sucked in.
    I will now try to get back my £50 – wish me luck.!

  14. Leigh

    I also nearly got sucked in. Spent a fair bit of time researching, but was not coming up with much. I’m new to this type of forum, thanks guys. Was spun the same story as above. Am waiting for them to phone back right now! Commiserations to those caught and good luck getting $ back.

  15. Barb

    Same story as everyone above, phone calls, glossy brochure, etc.

    I did a bit of checking and found this website which warns about a group called GSI:

    The GSI website is exactly the same as JBC’s website:

    Same scam, different name?

  16. Graeme Wilson

    Same story for me. I live in NSW and was contacted last week, glossy brochure, 4 licences etc. Looked at the so called trading log showing the #49,000 gain and noted some irregularities. Waited until the wife got on line to do some investigating that first took her to pommie website which also mentioned GSI as a scam. Then found this web site, wonderful confirmed the initial thoughts of too good to be true. Will be telling Paul Harvey to day when he phones not interested and that I’ve been to this web site.

  17. Paul

    I just got off the phone with Paul Harvey from JBC, this was the second or third call from him, and I’ve recieved the glossy twice since my wife threw out the first one. But the same as everyone here. I was almost convinced that as they have limited licenses because it would be unfair trading if they sold more. Here in WA they only had 4 licenses left out of about 400 in Australia.
    I mentioned that I would need to discuss it all with my wife, and when he mentioned that he could talk to my wife to convince her about it the alarm bells rang.
    Luckily I haven’t given them anything other than my email address.
    I’m happy I found this website.

  18. jane Hughes

    Have just been phoned by JBC and offered same too good to be true 18 per cent return blah blah. ONly listened for entertainment value and felt the phrase boiler room most apt. I live in the UK so obviously they are now here from Ozzie.

  19. Richard

    I was contacted by jbc shares at about 10:45 am
    the man asked if i was interested in buying shares etc and i was on the phone for nearly half an hour.
    Is this a scam???
    I was also sent information on the shares in the mail.

  20. Peter

    Hi Richard. Yes it is a scam. Read all the JBC posts on this blog, check the other comments, follow the links to JBC’s fake sites. Just don’t give them your credit card details!

  21. Sue Dorombozo

    I was selected to be offered this exciting and exclusive package, got caught up in the spiel, ready to go all out to convince the hubby……until thankfully, I decided to do some research. Same story, same websites given to check credibility. Thank you for your wise advise – if it sounds too good to be true……………….disappointed really lol :)thought I could’ve given up real work!!Nice to dream for a short while I guess.

  22. Sam

    Thanks everyone for alerting me. The guy on the phone seemed all patient. But the more I said Id think about it the more he said he would make allowances to take a deposit. Then he became a little pushey.

  23. Ned

    Yes – I too am gullible. Fortunately i only lost $200 deposit. I spoke with an number of JBC ‘analysts’ who repeated the same sales pitces reported on this blog. Initially i said i ws not interested and then about six weeks later JBC contacted me again – “only one license left for W Australia did i won’t it”., After some lengthy discussion, the price ws discounted to $2500. Still intrigued, i asked if i would discuss it with my wife and get back to them with my decision. The salesperson asked me to give me my credit card number and pay a refundable deposit which i negotiated down to $200. Next day after discussing the product with my wife decided it was not for us and rang to notify JBC that I would not be going ahead with the purchase. He said “DIdn’t i want to make $20000 a year for 10 minutes a day…”. Anyway long and short… about a week later I recieved and invoice for the product and my deposit as part payment. I contacted JBC on 2 occassions to demand they my refund my creditcard payment; and though each time I was assured that it would be done of course I am still waiting. Good lesson thanks JBC

  24. Michael

    Thank you Ladies & Gentlemen.
    I have been contacted by JBC numerous times over the XMas holidays in regards to this program. Only now was the name JBC expressed and of course a little bit of research has revealed this blog.
    I appreciate your comments and, while I’m sorry some have lost money, thank you for letting people know about this type of operation.

  25. Emma Jones

    Thanks so much,had all the same as above glossy mag etc. waiting for the phone call back off a stephen wilson from the mayfair branch in london. Thought he was being a bit pushy keeps phoning and not taking a no for an answer. now i can tell him to sod off and that this whole thing is a scam.

    Thanks again for the warning, thank god i googled for feedback on jbc.

  26. Danny

    Thank you all and sorry to those who have invested the $8900.00. I must say they are convincing and when I said I wanted to do a bit of research before committing to anything Scott dragged out those websites singing the praises of the product, however I was a little unsure when the websites were saying almost word for word what Scott had said. I was concerned and as Emma Jones said Thank god for google.
    Best of luck to those who are trying to get the money out of them


  27. James Goodall

    Hi all, I bought this software based on all the promises, which the other websites seemed to confirm.

    I had about $20,000 to invest, some it was my mother’s money, the rest mine. Neither of us is particularly wealthy. I am getting near retirement and thought this might be a good way to build up some aditional security for the both of us. Was I wrong!

    It took threemonths for my $20,000 to be reduced to ten

    The only thing the JBC software seems to do is find stocks which have fallen dramatically, and it recommends them, I guess on the assumption that what goes down must come up.

    In stocks this is not the case.

    In my experiecne about half do recover, and you make reasonable profits, but not enough to cover the losses from the other half, the ones that don’t recover. The ones that keep going dwon usually go further much down than the good ones go up, sometimes to the point of being delisted.

    I treied to get my money bakc, but without any luck. I didn’t have money left to take legal action. All up, I am about $18,000 down – more than half my savings gone.

    I wish I had seen this blog beforehand. Do not, do not, do not fall for this scam.

  28. Anne

    Wow! They are so convincing, I nearly got sucked in today. Same story as everybody eles except, when I called back to say I was not interested Chris Wallace from the Sydney office, offered me a 100% money back guarentee. Can you imagine how great it looked then? This again made me think what have I got to lose. I didn’t leave a deposit but I was very close to doing so. I am so glad I found this site tonight, who knows I was ready to give it a shot.

    Thanks to everyone who has left feedback and I wish those who have lost out best of luck.

  29. Clifford

    Wow, glad I did a bit more checking, and thanks to this site I have not lost anything
    Our protection agencies need a kick up the back side, bloody useless toothless tigers
    How many more people have to get ripped off before they are shut down
    Cliff WA

  30. Pete

    G’day G’day people. I am waiting for a phone call from a Peter Jennings this afternoon {seems a nice bloke}. Was considering buying the $8900 jbc package until we found this site {they are VERY smooth}. Thankyou to everyone for leaving your feedback here.

  31. Tony

    Had the same brochure and phone call, sounds a great way to make money, but looked closer at the web sites they tolled me to look at and they are made up there is no shares week.

    This is a scam.

  32. Hazel

    This happened to me also last June, I sent the package back unopened and tried to get a refund… haha. Have been pursuing JBC and the credit card company here in England since then… still going.

    If you find yourself in the same position don’t give up. This scam is global and these ******** need to be stopped and held to account.

  33. Pat

    Im not one for reading blogs, But … I am glad to read this one.
    Same as above lots of promises but would not provide a trial copy of software or even screen dumps of pages for review. I nearly had the dollar signs in my eyes, but decided to google them and when it came up with nothing I got a little unsettled. I decided if the package was as good as they said there would be some reviews. Websites any 15 year old can throw together, ABN’s well I got two !!
    Thanks again to all, its amazing how many “last licences” can be available.

  34. Julie-Anne

    Well I am sorry I didn’t see this site earlier.
    I purchased the program and have made steady losses ever since.
    I have just reported JBC to ASIC as a scam.
    Last week their no.2 recommended Stock has been in receivership for 18 months.!!!! The number 40 pick has been in receivership for nearly a year.!!!! This program is nothing more than a random generator.. absolute scam !!!!!!!

  35. Rhys & Sheri

    Wish we had seen this site before we purchased in October 09. I thought I did all the right things checked them on ASIC that they were an actual company had been around since 1992, head office London, when I did a company check that all checked out as well.
    Then googled looking for any bad news stories and couldn’t find anything so fell for their very slick story hook line and sinker.
    We haven’t invested much but have noticed that we could pick better just by looking at the charts. We did get a signed form from them saying that if we hadn’t made enough money to cover our outlay we could get a refund after 13 months, I guess we’ll have to hope that charge back through the credit card company works cause from what everyone else has said they won’t be refunding any money.

  36. Pat

    Good luck

  37. Fred

    Yes I was On the 24th October,6pm by Adrian Mathews and Gareth Hughes. I would love to see them get what they deserv one day.

  38. Vern

    Sigh, I too was sucked in mainly by the guarantee – Strange now that the 13mths are up I must contact London office – strange how all the contact email address’s fail. Lost about $2500 in useless trades plus the $8900. Wish I’d done more research

  39. Steve

    I believe JBC have changed their name to CFS
    Floor 12
    Australia Square
    95 Pitt Street
    SYDNEY NSW 2000
    1300 441 355

    I had the same $8900 offer “only 400 available, 18% returns, his wife is doing it (he can’t cause its insider trading)” recieved the convincing mail. I checked on google, as i always do. but only found good feed back (fake sites i am guessing). I had the gut feeling that something was not right with CFS but still liked the idea of day/end of day trading so I googled end of day trading software and luckily found this blog. I really hope not to many people are getting caught now that they have changed their name. I nearly spent the money we put aside for my son.

    Thank you, very much

  40. Vic

    My wife and I thought this program would help us to build up our retirement fund a bit quicker, but instead it has cost us the price of the program plus 13 months of my time every night hoping it would make a profit. I sent in all reports every month as per the money back guarantee and done every thing possible to get a refund. I believe we need to pursue a refund by going public and would like to know if others feel the same.
    I beleive we need to contact a lawyer to start the ball rolling. Maybe someone has already gone down that road and may know a Lawyer that knows all about JBC and their scam.

  41. Geoff

    Through unfortunate circumstances I too lost £4k to JBC in London on my credit card, in DEC 2009.
    When the package arrived – no invoice and with warnings about committment when opened, and having found websites such as this –
    I returned the package immediately – I contacted the credit card co. who had not processed the transaction, but as I had authorised it , they would not reverse payment. Despite fair trade acts, promises etc no refund came from JBC , only guarantees that it would work and false promises, and could no longer get to JBC in London.
    It took 10 months overall wrangling with the credit card company before they refunded my £4k in Nov 10, so fortunately in the end, thankful to the credit card guys.

  42. Pat

    Best way is to expose them is on TV via a current affair show. That will then shut them down. I havent looked at this blog for a while. Interestingly I think I got called by CFS a month ago. Theres a hide after I told them they are crooks a few months back as JBC !

  43. anita

    CFS also contacted me, and sent a lovely gloss brochure telling me how much money i could make. After reading I came and found this page. I read back on the book and found no ABN number or that it ever tells you what CFS even stands for.(maybe Calculated Fraud Scam) Thank you to the above people for writing on here, and I hope those of you who lost money somehow manage to get it back.

  44. atmaust is now operating out of the Gold Coast. Same scam, same people, just returned from UK to fleece locally

  45. Mitch

    “CFS” are very active by the look of it. My wife is being solicited with promises of wealth etc. The chap on the end of the phone calls himself Philip Duiker and left the 1300441355 number for me to call him. Their offices are listed as previously noted in Sydney.

    Naturally, I have not and will not call back.

    This looks and smells very much like a horse racing scam that I ignored in the 90’s. PC software to track and back winners .. guaranteed. That outfit (cannot remember the name) was also domiciled on the Gold Coast.

  46. Matt

    These guys are a scam out and out!!!

    The adress is always a virtual office. What big company that can make this much will have a small website and a virtual office.

    Scam scam scam, stay away!!

    A call on all who read this, lets start contacting Today Tonight and all other regarding this to get these guys stopped.

  47. Rod

    Sadly, I too have a similar story. Was hassled into parting with $8900 and was diligent with the reporting over 13 months. I’ve got nothing but losses to report and really hope we can expose them and work together to get our money back!

  48. Pol

    Hi there, just thought I would add – I was contacted by a Chris Davis – left a message saying it was a personal matter which of course prompted me to call back and leave a message. After googling the number he left I have come to this page. I am grateful to have found out it is a scam before he calls back, and thought it might help to add the name of the person I was contacted by.

  49. Jack

    Googled the phone number which led me to this blog.
    Thank you very much for the information.
    Leaving a message for the same reasons as did Pol.
    Danny Cook is the man who contacted me.

  50. atmaust

    The main cfs-live sales group is based at Mt Gravatt. Two top players are Phil Travers and Troy Moncrief

  51. Peter

    See new post on this as at 2nd March 2011.

    I am going to contact TV current affairs programmes to suggest they do a report on JBC and CFS.

    If you have been ripped off by JBC or CFS and would be willing to share your story, please comment on the new post, or contact me via email (my address is on my profile page).



  52. Bob Traill

    I have a financial interest in this topic.
    No further comment at this stage.

  53. Charmaine

    Bob, when you say you have a financial interest in this topic, do you mean you have been ripped off by these bastards, or that you are one of the bastards?

    If you are one of the bastards, please feel free to go ahead and explain yourself.

  54. Graeme Strange

    My wife was caught by this scam … if I can help in anyway to get these guys COUNT ME IN!

  55. cfs_hater

    Can someone please give me some urgent advice? I paid $8900 to CFS trading.. I have installed the program and am paper trading, which is basically a practise run before using real money, and I am not making any money at all! The stocks it recommeneded are just going down more and more.. I’m really angry and I can’t stop crying, I am such an idiot. Not only did I pay that, but i paid for a lifetime membership to be able to download Stock Prices from WeLoveData.. $550. I have no idea how to get my money back, my whole savings. I really wanted to believe it was true..
    What do i do now?? 🙁 FML

  56. klh

    to FML message 18april2011-don’t fill bad same happened to us we have traded once so far ok but can’t get onto them Sydney address return mail??and threy web page email dosen’t work either.we have been done. k

  57. Humberto Blassingame

    Awesome blog post.Really thank you! Wonderful.

  58. Rosemary Hughson

    I wish to be contacted by you, because, I have fallen prey to these scam artists CFS-live who have not returned my calls or email for months. I was promised a refund of my money after 13 mths if the stocks didn’t trade as well as predicted, and we are up to 14 mths now. Please contact me as i wish to take them on if possible.

  59. C W Farlow

    Yep! I fell for it see below the guarantee I received in July 2009!! they owe me £4000

    Further to our telephone conversation, I am pleased to confirm that the JBC
    System will be released to you upon receipt of £3,995
    The balance of £3,995 is only payable once a profit of £20,000 has been
    achieved. JBC guarantee a profit of £20,000 must be achieved within twelve
    months of operation or JBC will waive the balance of any monies owing.
    Should you have any questions, please don’t hesitate to contact me on
    Free Phone: 0800 917 2543
    Yours sincerely,
    …………………………… ……………………………
    Jacob Evans Gareth Hughes
    Senior Analyst International Operations Manager

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