I signed up for Gryphon Daily’s "Pipeline Trader" investment advisory service for $79/year in the beginning of February 2010. I immediately got a call from Robert Anthony from Gryphon Daily (earlier trading as Gryphon Financial), who claimed himself to be a senior trader urging me to opt for “Daily Options” service for $1, 000/year and promising to double my portfolio in an year.

I was given a good trade, on which I made around $7, 000 on a trade of $3, 000. Robert then called me again to sell his new service “Elite Options VIP”. He mentioned that this service is available on the web as “Elite Options” for $1, 499, but he would give me exclusive and explosive trades (the trades may not be listed in the service archives) and personal attention for an yearly fee of $10, 000. Greed got me! I signed up for the VIP service.

I got few trades; some via un-official email (when I requested Robert to confirm the trade recommendations) and some via phone. First 2 trades made $15, 000 profit for me.

Both Robert and I now became greedier. Come March 2010. Robert now mentioned that he can still deliver better trades thru “Private Plays” service. The cost is $50, 000 per year. He mentioned that he has few new trades in mind, and he would provide me recommendations, when I sign up for a new service. He also mentioned that, as he does not like to ask money again and again, the contract for the new service is that, I would pay charges, when winning trades are delivered. We agreed on 20% of profits or around $5, 000 (based on average profit of $25, 000 per trade), till the yearly fee is paid completely. I assumed this to be a fair and wise arrangement. But, he needed an initial payment of $10, 000. I agreed on the condition that, as his recent trade recommendations from other services are yet to make profits, he would hold off my signed contract and would not charge my credit card. He then delayed providing me a new recommendation, as he mentioned that the trade recommendation is still being finalized. In the meantime, my credit card was charged for $10, 000. 2 days later on a 19th March Friday, he called me that a new recommendation would be ready by the evening, but I would have to pay $5, 000. I complained, about my credit card charges, and about not making any profit yet. He assured me that this new trade as a part of “Private Plays” would surely make exorbitant profit s, and I would be wise to pay $5, 000. I was in dilemma, and reluctantly told him that, I would provide the credit card number, and requested to charge after the trade would make money the next week. He mentioned that he would deliver the trade recommendation in few hours.

All these times, I signed off written agreements, while providing my credit card numbers to Robert. The “Private Plays” service was by invitation only, and one could not sign up on the web. As per the agreement for the “Private Plays” service, the credit card would be charged only when a winning trade recommendation is sent (the trade would make $5, 000 for Robert and $20, 000 for me). Gryphon broke its promise, and still charged my credit cards.

In those 2-3 days, the last few recommendations from Robert’s “Elite Options VIP” and “Daily Options” services tanked, and I was in a loss of $40, 000. Including the loss and Gryphon’s fees, I had lost half of my portfolio. I was getting nervous. Then on Monday, March 22, I got a call from Greg Fox, another senior trader, that Robert Anthony is no longer with Gryphon, and demanded $7, 000 more for delivering an exciting recommendation for “Private Plays” trade and he would write off $8, 000 of my future fees. I did not agree initially.

But the loss was eating me from inside. I called Greg for advice, and he mentioned that he can help only if, I pay up $7, 000. He was asking money as a part of his research, and did not consider the contract agreement about payment only when a winning trade is delivered. I provided my credit card number, but did not sign the written agreement. He then postponed the trade recommendation for 2 more days, and called me back on Wednesday for requesting my signature on the payment of $7, 000. I was thinking, about my losses and Gryphon fees. Gryphon has reneged on a contract, did not provide me any service as a part of “Private Plays” and still charging me more and more fees.

I then decided to put an end to this mess. I told Greg that I am going to contest all charges regarding “Private Plays” and Gryphon should oblige the contract and charge me the fees, only after sufficient profits have been made.

I then contested all the charges for “Private Plays” service, as no service has been provided till now. A customer rep from the credit card bank told me that, I had signed the contracts, so I may not have any recourse. I also contested the charge for “Elite Options VIP” service, as VIP service has been provided only till mid-March, and then stopped. A VIP service would provide regular portfolio analysis and exclusive trades. I was not a fool to sign up for expensive services, unless promises are made.

Gryphon Daily's customer service informed me that as per contract with Robert, he cannot contact his past clients. Gryphon Daily's customer service is now accusing that Robert and I may have conspired to malign Gryphon Daily. My phone records are open for any court to study and judge that this is not true. In fact, I am trying to contact Robert Anthony to talk to him about this mess.

Gryphon’s customer service told me that I have been using their web site services, so I have no case against Gryphon. Its staff still does not understand that, my complaint is not against the services provided by its web site, but against “VIP” service being not provided, and against charging my credit card without winning trades for “Private Plays” service. My complaint is against Gryphon’s fraudulent practices, and about blaming customers instead of resolving customer disputes.

The way Gryphon scams is their services are non-refundable. Its customer service told me later that, I had a grace period of 3 days as per New York state laws, but I was unaware of this, and this was not mentioned in the contracts. This makes the contract questionable, and perhaps may not stand in the court of law.

I need help.