• Larry Pesavento - another CROOK - can't trade but "teaches" read on

    From rbtstock17@gmail.com@21:1/5 to consuming on Wed May 13 21:42:02 2020
    On Tuesday, November 25, 2003 at 8:21:12 AM UTC-8, consuming wrote:

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

    Larry Pesavento - TradingTutor.com
    4625 E. Camino Rosa
    Tucson Arizona 85718
    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!!!

    Gaffney, South Carolina

    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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