David Kaup - Lunden Forex Partners, Blackhorse Fund Scam David Kaup Ripp Off, Scam Artist, Deadbeat. Does Not Pay His Debts! Do Not Invest With This Guy! Los Angeles California

I was hired as an outside independant consultant to train the Forex traders that worked for BlackHorse Trading by David Kaup.  Mr. Kaup wanted his traders to be able to trade more effectively and safely, and spared nothing to accomplish that goal.  Mr. Kaup seemed to me to be a very generous gracious boss with his employees, and a very dedicated hard working man who had honorable intentions. 

I knew nothing of his prior dealings or Bankruptcy, but I believe from what I saw and know that he had good intentions to make money for his investors.  At the time, it was reported that his company, BlackHorse Trading, had made consistent profits for all its managed accounts for the preceeding 4 months beginning in April, 2009.  Some of those investors came into the office to see the trading room and to talk with Mr Kaup and confirmed to me that they were very happy with the results of the firm and the Forex trading.  I never met or talked to any investor who had lost money or was unhappy with the company, but of course I know nothing of previous business dealings.  I was never allowed to trade the accounts myself, but was present to answer the traders questions and assist them in evaluating trade setups for their trading.

I found David Kaup to be a very genuine sincere person who seemed to be making every effort to make his company successful.  He was willing to provide any tool or help for his traders to make them more successful, and I emphasized and taught them to use stop losses to limit the damage from any failed trade, and to let the profits run on the successful trades.  I do not believe they were using stop losses previously, and if stop losses had not been used, I can understand how easily money could be lost in the Forex market with no intent of Fraud or Miss-dealings.  I can also understand how easily one could fall asleep while trading in the middle of the night, when the best trading hours are, but that is why I always emphasized the absolute necessity of having a close stop loss order in place at all times in all trade positions to protect the account. I was shown the trade record of some accounts which were extremely impressive in their results.  How those results were obtained was unknown to me. 

While I was there, I believe the company had been very successful and made returns ranging from 10% per month as the lowest month, to as high as 40% for the best month of trading.  I saw or heard nothing that would in any way indicate that Mr Kaup was in anyway trying to defraud anyone.  He had as his goal to be the world's best Forex trader, which is an admirable goal.  To learn to trade successfully in any of the markets, all of us traders have had our share of losses and failures, but that does not equate to fraud.  Of course, I was not an investor who lost money, and I have no idea of how the money was accounted for to the Bankruptcy court.  I am certain that an accounting was made by the court before Mr Kaup was discharged.  The filing of a bankruptcy and the loss of investment money does not equal to the fraud charges alleged in this complaint, but of course I do not have the facts and so this is just my opinion.  If the loss of money in trading is fraud, then most all of Wall Street would be guilty, as the markets have not been kind since 2000. 

The truth is very important in any business situation and bringing pressure to bear on contracted people of a business is never anygood. Nor is it to threaten people as it brings only suspicion onto us. I do not agree with David Kaup's handling of this situation at all. David did delay in paying.

John Stover ("the Complainer") was hired by our company to solicit investors for our very successful fund. In fact no investor in our fund has ever lost money. The Complainer sought reimbursement for his expenses in seeking investors for us. This is ridiculous because his deal was that he would be paid when he brought in an investor. THE COMPLAINER, JOHN STOVER, DID NOT BRING IN ONE INVESTOR! When the Complainer approached our Fund Manager to request payment in spite of his lack of performance, he was reminded that in order to be paid he had to bring in an investor and money. To date he has never fulfilled the provision of his contract with us that would have entitled the Complainer to compensation. Then when our Fund Manager advised him that he was not entitled to compensation he placed this libelous posting on this site that refuses to remove any posting once it is placed here. The Complainer has been paid as he requested but has not modified his report. I can be reached at jim@blackhorsefund.com

After a long discussion with David we have come to the conclusion that this was all a major miscommunication between both parties. I felt like I was being taken advantage of, but again it was due to lack of communication on both ends.

I also want to clarify that I was never an investor with any of his funds (Blackhorse, and Lunden Forex Partners), and this debt had nothing to do with either.

Debt has been paid, and it is my opinion that I would do business with David in the future.


Thanks,
John

After a long discussion with David we have come to the conclusion that this was all a major miscommunication between both parties. I felt like I was being taken advantage of, but again it was due to lack of communication on both ends.

I also want to clarify that I was never an investor with any of his funds (Blackhorse, and Lunden Forex Partners), and this debt had nothing to do with either.

Debt has been paid, and it is my opinion that I would do business with David in the future.


Thanks,
John

After a long discussion with David we have come to the conclusion that this was all a major miscommunication between both parties. I felt like I was being taken advantage of, but again it was due to lack of communication on both ends.

I also want to clarify that I was never an investor with any of his funds (Blackhorse, and Lunden Forex Partners), and this debt had nothing to do with either.

Debt has been paid, and it is my opinion that I would do business with David in the future.


Thanks,
John

After a long discussion with David we have come to the conclusion that this was all a major miscommunication between both parties. I felt like I was being taken advantage of, but again it was due to lack of communication on both ends.

I also want to clarify that I was never an investor with any of his funds (Blackhorse, and Lunden Forex Partners), and this debt had nothing to do with either.

Debt has been paid, and it is my opinion that I would do business with David in the future.


Thanks,
John

After a long discussion with David we have come to the conclusion that this was all a major miscommunication between both parties. I felt like I was being taken advantage of, but again it was due to lack of communication on both ends.

I also want to clarify that I was never an investor with any of his funds (Blackhorse, and Lunden Forex Partners), and this debt had nothing to do with either.

Debt has been paid, and it is my opinion that I would do business with David in the future.


Thanks,
John

I have never invested in any of David Kaup's funds, therefor I want to make it clear that I do not know what his business practices are concerning them. I want to also make it clear that I do not know if he ever scammed, or did not pay anyone other than me.

What I want to make clear is that him and I had an agreement for advertising for his company, and he owes me a debt of $800. Once this debt is satisfied, I will report it here.