On Tuesday, November 25, 2003 at 8:21:12 AM UTC-8, consuming wrote:

http://www.ripoffreport.com/view.asp?id=68411

Larry Pesavento - TradingTutor.com $107,000 retirement money lost by professional stock trader Tucson Arizona --------------------------------------------------------------------------------

Company
Larry Pesavento - TradingTutor.com
Address:
4625 E. Camino Rosa
Tucson Arizona 85718
U.S.A.
Phone:
520-529-0469
Fax: 520-529-0491
Email: tomahak@dakotacom.net

--------------------------------------------------------------------------------

On 11/05/2001 I placed my retirement money ($190,000.00) with Larry Pesavento, a professional stock trader in Tucson, AZ, and paid him a management/set-up fee of $3,800.00 (2%) to trade my account.

Shortly after the first of the year (2002) he recommended that one of
his students trade my account as he did not have time for it. He
assured me that this gentleman was his best student and that he would
look after the account activity closely.

While I was in Chicage (April 2002) on business, I received a frantic
phone call from Mr. Pesavento in Tucson stating that the gentleman
trading my account had lost $107,000.00 in a quick series of losing
trades over the past 2-3 days.

He assured me that he could get the money back. I immediately closed
the account to trading within the hour.
In November and December 2002 Mr. Pesavento started another smaller
commodity account for me to "get the loss back". This account rose to approximately 40,000 over the next few weeks, and then started
dropping over the next several weeks to around $22,000. At this point
I called Mr. Pesavento and asked him what was going on with the
declining balance, wherein he apologized that he had forgotten the
positions he had taken in the account and I decided to take him off
the account as a trader.

From December 2002 until the present he has refused to make up for the
loss or trade an account responsibly to regain the loss. He stated
that there was nothing more he could do for me, that the loss was not
his responsibility. I recently have received copies of email
correspondence from the second gentleman regarding my loss, and in two e-mails, Mr. Pesavento has admitted responsibility for the loss, but
asked the student trader not to discuss this loss episode with me, and
he has also asked that before the student trader sends any email correspondence to me that he, Mr. Pesavento, be permitted to review it
first. He will not even return the $3,800.00 account management fee
that I paid him!!!

Jack
Gaffney, South Carolina
U.S.A.

Why would someone let another person try to make up 100,000, when they have proven they will lose your money?

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