Mike Douglas and MTA Online SCAM

[TradeQuietly]

Wow, finally some decent developments. i was starting to think that smug prick was going to continue getting away with his sly practices.

I dont suppose anyone here is in a whats app group at the moment and knows what they've said to their 'students' and whether they will just leave them in limbo while the sort things with their lawyers

I wonder if they do get officially charged would they then be forced to repay money owed; particularly for me is the app cost. Still not over that one. Luckily its the only money I parted with.

Any updates on their status would be appreciated.

 

[JustFRX]

I'm still in the groups and they haven't posted at all. I've read that they have had their phones confiscated by the police as evidence, which would explain the lack of contact, I guess.

But everyone in the groups are now well aware of what has happened.

Matt Travis is finished - he won't be coming back from this.

 

[mtakeover]

It would appear the arrest of Matt Travis has scuppered the plans for MTA Australia and the investment he was due to receive for it - Lewis Flanagan claimed in his whistleblower video a couple of weeks ago that Matt was trying to get a large amount of investment from someone in Australia to pay back the £250,000 he allegedly owes to his previous investor, and indeed a company MTA Australia Ltd was incorporated on the 12th of January this year. However, the Australian director and 20% shareholder resigned today, the 23rd.

Still silence in the MTA groups?

 

[TradeQuietly]

It would appear the arrest of Matt Travis has scuppered the plans for MTA Australia and the investment he was due to receive for it - Lewis Flanagan claimed in his whistleblower video a couple of weeks ago that Matt was trying to get a large amount of investment from someone in Australia to pay back the £250,000 he allegedly owes to his previous investor, and indeed a company MTA Australia Ltd was incorporated on the 12th of January this year. However, the Australian director and 20% shareholder resigned today, the 23rd.

Still silence in the MTA groups?

What’s this Lewis Flanagan video about ? I searched him on Facebook and see a lot of posts relating to MTA but no real info and he also says he removed the video due to hate his family was getting.... I’m guessing he worked with Matt for a while and then exposed info their ‘business’.

 

[mtakeover]

He worked for MTA and lived in Matt's flat for about a year. After he left, he posted an hour long video making a whole load of claims about the inner workings of MTA, most of which probably shouldn't be repeated on a public forum but revolved around Matt Travis being a violent pennyless bullshi**er.

Interestingly he did claim in the video that he had been contacted by the FCA and asked to provide evidence, and this was a good week or two before the apparent arrest of James and Matt.

 

[TradeQuietly]

He worked for MTA and lived in Matt's flat for about a year. After he left, he posted an hour long video making a whole load of claims about the inner workings of MTA, most of which probably shouldn't be repeated on a public forum but revolved around Matt Travis being a violent pennyless bullshi**er.

Interestingly he did claim in the video that he had been contacted by the FCA and asked to provide evidence, and this was a good week or two before the apparent arrest of James and Matt.

Damn, I wish I saw this video. Sounds like there’s good juice in it.

At least it’s out now that he’s the scum bag that we all know him to be which is the main thing. Now for some legal comupence.

Anyone with the gos , do keep me informed :cheesy:

 

[mtakeover]

Triomarkets sent the attached email to all clients of MTA informing them of the termination of MTA's broker agreement due to MTA going off the radar, and complaints about the much higher spreads that MTA imposed on their clients compared to just signing up with Triomarkets directly.

Also attached is a message apparently sent by MTA to someone requesting a refund confirming that MTA has now shut down. Supposedly clients will be refunded but who knows if that will actually happen...

 

[ctrl]

This is hilarious (and long overdue).

Would be interested to keep up to speed with any developments if anyone is in the know.

 

[TradeQuietly]

This is hilarious (and long overdue).

Would be interested to keep up to speed with any developments if anyone is in the know.

Very interested.

 

[mpups]

Very interested.

yeah its satisfying to see a bs artist getting busted! :cheesy:

 

[TradeQuietly]

I'm still in the groups and they haven't posted at all. I've read that they have had their phones confiscated by the police as evidence, which would explain the lack of contact, I guess.

But everyone in the groups are now well aware of what has happened.

Matt Travis is finished - he won't be coming back from this.

Any new news from the groups or any gossip you can fill us in on?

 

[JustFRX]

Hmmm...apparently 'someone' posted in one of the groups that Matt and MTA are in the clear and the investigation has been closed.

I haven't seen any screen shots or personally know anyone in the group so I don't know how reliable this is.

Irrespective of the outcome, there are now so many hundreds of people who now feel empowered to speak up against Matt and his business practices, lies and sheer fantasy to hound him to death on social media.

 

[mtakeover]

Does anybody know what they were actually charged with?

On a lesser note, the ASA today published the resolution of their investigation into MTA's false claims to be a university and claims that the course is free, despite it actually costing £749 for the "university" package at the time of their investigation.

https://www.asa.org.uk/codes-and-rulings/rulings.html?q=mtakeover#informally-resolved

MTAkeover Ltd t/a MTA Traders University
C/O Andrew Steale PO BOX 7800, 47 Albemarle, London, England, W1A 4GA

The complainant challenged whether the following claims were misleading and could be
substantiated:
1. the claims “university” in ads (a) and (b); and
2. the claims "free" in ad (a).
Investigated under CAP Code (Edition 12) rules 3.1 (Misleading advertising) and 3.7
(Substantiation).

03 Misleading advertising
3.1 Marketing communications must not materially mislead or be likely to do so.
3.7 Before distributing or submitting a marketing communication for publication,
marketers must hold documentary evidence to prove claims that consumers are
likely to regard as objective and that are capable of objective substantiation. The
ASA may regard claims as misleading in the absence of adequate substantiation.

[MTA] have provided us with an assurance that they have removed the “university” claims from their website and Facebook ads, and the “free” claim from their Facebook ads. We consider that this will resolve the complaint without referring the matter to the ASA Council, and will consequently be closing our file. However, we reminded that they should take steps to remove similar claims that appear elsewhere in their advertising and that should they intend to use those claims in future advertising, we would expect them to hold adequate evidence and be in a position to substantiate those claims.

 

[JustFRX]

Well that's disappointing - the ASA are pretty much toothless and can really only impose fines.

Was this what all of this was about? No FCA investigation? Or has there been a two-pronged attack and this one (the lesser one) has been resolved with basically a slap on the wrist, and the bigger, more serious one, is still ongoing?

 

[mtakeover]

The ASA investigation is totally separate to the criminal investigation(s). The ASA investigation is from some months ago, but they only just published the results. The criminal investigations are recent and ongoing (or concluded if you believe the shill who posted in the whatsapp groups - seems unlikely)

 

[mtakeover]

Matt has done a runner from his current flat, 5 months or so after moving in. http://www.rightmove.co.uk/property-to-rent/property-63867979.html

Anybody heard from him or James recently? He has been very quiet apart from retweeting football crap on twitter.

 

[TradeQuietly]

Matt has done a runner from his current flat, 5 months or so after moving in. http://www.rightmove.co.uk/property-to-rent/property-63867979.html

Anybody heard from him or James recently? He has been very quiet apart from retweeting football crap on twitter.

no news heard unfortunately, i was hoping there'd be more juice.

anyone know of these accusations his former 'employee' Lewis put out there?
I would imagine it's mainly things we all know to be going on form our own dealings with Matt and MTA but it'd be nice to have it confirmed from someone who was in the circle.

 

[mpups]

MT is an absolute joke in terms of trading mentor/coach - on his linkedin page he doesn't mention trading even once! He needs his head screwing back on

Matt Travis
Director at MTAKEOVER LTD

Summary
Accomplished Director/Sales Director/CEO with experience and compelling successes in sales management, staff leadership and generating revenue at a senior level. Successful at developing and delivering strategies to support reputation and commercial growth. A background in successfully managing budgets, interpreting business insights and cultivating strategic alliances with agencies/partners.

Experience
Director
MTAKEOVER LTD
October 2016 – Present (1 year 5 months)London, United Kingdom
Key Responsibilities:
● Utilised entrepreneurial skills to set up and develop a brand-new business; full accountability for developing high quality business strategies ensuring their alignment with short-term and long-term objectives
● Oversee all operations and business activities to ensure they produced the desired results and were consistent with the overall strategy and mission
● Leading all activities of the sales team utilising the Business Planning process to align with business strategies and KPI’s to deliver both Company objectives
● Establish innovative ways to maximise sales on a regional and national basis
● Hold full budget and P&L responsibility
● Accountable for the recruitment and management of teams; identify training and development needs through job analysis and appraisal schemes, maximising productivity through ongoing performance monitoring and review
● Created robust and structured sales approach to promote effective utilisation of the sales team; implement company price architecture and other Company policies across the business segment
● Develop relationships with all corporate customers and contractors to generate profitable business opportunities
● Work with key stakeholders and industry specific contacts to promote the services of the company
● Cooperate with the creative team to map out marketing strategies, defining messages and ensuring consistent brand visibility
● Communicate and maintain trust relationships with shareholders, business partners and authorities
● Oversee the company’s financial performance, investments and other business ventures

Key Achievements:
● Built the world’s largest FX education company to date, creating very successful sales teams, producing creative marketing and negotiating worldwide deals with affiliates

CEO
MTALIVE
March 2013 – October 2016 (3 years 8 months)London, United Kingdom
Key Responsibilities:
● Developed and executed the company’s business strategies in order to attain the goals of the board and shareholders
● Personally built an extremely successful sales team to generate revenue
● Prepared and implement comprehensive business plans to facilitate achievement by planning cost-effective operations and market development activities
● Ensured company policies and legal guidelines were communicated all the way from the top down in the company and that they are followed at all times
● Communicated and maintained trust relationships with shareholders, business partners and authorities
● Analysed problematic situations and occurrences and provided solutions to ensure company survival and growth

 

[JustFRX]

Matt Travis....once a bull****ter, always a bull****ter!

Seeing as his days of being a Forex "Guru", heading up the "largest FX education company in the business" (not by a long shot, sunny Jim!) are effectively over, it looks like he's padding out his CV in order to maybe get work somewhere else.

"Why doesn't he just continue to trade to make his millions?" I hear you ask...because he can't actually make millions from trading - all the cash he's ever had he's gotten from conning poor sods like me by spinning them a dream.

 

[JustFRX]

Matt has done a runner from his current flat, 5 months or so after moving in. http://www.rightmove.co.uk/property-to-rent/property-63867979.html

Anybody heard from him or James recently? He has been very quiet apart from retweeting football crap on twitter.

Haha - classic Matt Travis!

Still no news that I'm aware of.