Some time ago I received in the mail a glossy booklet from Spectre Trading outlining their Sports Arbitrage Trading System. My initial reaction was that it looks too good to be true and therfore probably is so I took no further action.
A few weeks later I received a telephone call form a Mike Atkins a "Senior Consultant" with Spectre. He described for me how the system works and answered my questions. I checked their website and looked them up on the ASIC website and found no alarming indications. As it sounded credible and didn't seek to extort huge amounts ($8,800) in my case I decided to take the plunge.
After I committed my funds I was told I would be contacted in a couple of days to run through my account. A week passed and nothing; my attempts to contact them were fruitless. Only then did I google the company name and find the consumer complaints about them.
I have reported it to my bank who are taking action and I will be following up with ASIC and anyone else I can think of. So if you read this before you've committed to them - don't. If you already have and have paid by credit card get straight on to your bank and minimise the damage.