Four London companies involved in selling “miracle” software guaranteed to make investors money trading on the London Stock Exchange, have been ordered into liquidation in the High Court on grounds of public interest following an investigation by the Insolvency Service.
The court heard how Direct Technologies Limited, D Corporation Ltd, Stock Market Charting Programs and Data Specialists Limited and On Demand Sales Consultants Limited raised at least £1m from the public who were duped into buying the software by false claims including those in fake testimonials, false online articles and in purported online magazines claiming to be an award winner alongside various global financial institutions such as a worldwide bank. It was also claimed and that their ‘DTL Direct Trader System’ incorporated:
- 10 years of extensive past trading data on over 125,000 stocks
- the ability to apply 251 internationally recognised charting formulae
- the ability to download daily close of market data on all stocks listed on the London Stock Exchange
- the application of more than three billion calculations each day to suit the user’s trading requirement
- alerts for both profit taking and to stop loss situations
- enable the user to make comprehensive trading decisions in only minutes each day
- built in accounting package
Numerous related websites were identified by the investigation including http://dtl.info which had an “expert review page” on how to trade and make money and to become part of its “trading family”.
Source: New feed.