I do not know who Randy Mitchell is and whether we all can trust him or not but it must be admitted that he was able to cover a card. Anyway, one of those cards which have been played against him (you can read about it here and here). I want to remind you that Randy Mitchell is an administrator of Funds-O-Matic and that investors have at least 2 major claims to this administrator. One of them was officially commented and we want to bring it to your notice.
But first we want to remind about the first complaint that hadn’t been solved yet. In this case, the problem concerned our reader John Doe, who had lost because of the theft. This theft has occurred as a result of hacking John Doe’s account, which was opened at Funds-O-Matic. Randy suggested that the hacking happened because of Wi-Fi network, which John used. Whether it is true or not and what Randy’s conclusions were based on is unknown and needs to be figured out because we haven’t received any official comments yet. However, we also haven’t received any reports regarding the same problems from our readers.
Our other reader’s payments (we won’t inform his name) were delayed in early October at FundsOMatic. He contacted us on October 22 when the delay had reached a period of 2 weeks. A little later, an account was suspended with all money transferred to this account. The administrator said that the reason was violation of TOS of Funds-O-Matic. Our reader wrote us about it: "and the manager accused me that I did not follow the rules of your program, but that's not true I have a referral that is entered from your computer but admin says he did from the same IP but this is false". Our question to this reader is: what was first - pending delays or suspending?
Our question to the manager: why this account was blocked? And here is the answer: “Both of the XXX accounts were suspended for cheating". Well, cheating was an unexpected answer. It turns out that the reader who contacted us is an experienced swindler, who, by hacking and disordering monitors cheats and blackmails the administrators of these projects. That’s what allegedly happened in this case. Namely, the registration from one IP and investing using his own referral link. In FAQ you can find the following answers which regulate this condition:
Can I have more then one account?
There is no need for more then one account per person since all processors can be used in each account. In fact you are only permitted to have one account per IP address. Strict monitoring is in place to ensure that the referral system ins not abused. Anyone found to be in violation of this will loose all accounts and funds involved.
Can I sign up an account for a family member?
As long as the family member is not in your residence or access the system form the same ip address you may refer them. Due to the security software that checks ip addresses it is best to have them share your account. If a separate account is absolutely required prior approval must be given and other accounts can not be in your down line.
It sounds convincing. So why has our reader decided to violate TOS? Is he really guilty? Has this violation really taken place? These questions need to be answered.
You can think whatever you want about Funds-O-Matic and about Randy Mitchell in particular however both complaints regarding this program are quite ambiguous (it is difficult to say for sure that we really deal with some kind of fraud). I am sure that such situations might occur even on the way of the most honest administrator. The question is how you feel about it and how the administrator solves such problems, whether he tries to explain what happens, takes responsibility, helps his customers or not. The admin of Fund-O-Matic at least does not ignore anyone and we believe this is a very positive sign. Of course, the problems in both cases are still unresolved and it is up to you what to think about the future of Funds-O-Matic but you should bear in mind the facts and admin’s attitude.