Ponzi scheme targeting crew - Beware - do not become a victim.

[ualgrizz]

"Ponzi scheme targeting crew"…please tell me who received any calls soliciting their service. This company doesn't advertise. I've made a lot of money, however would not recommend to friends!

[jacek6]

"I've made a lot of money"

ualgrizz, please, don't let me miss out on making all this money too...tell me too..

This is exactly how it works you have just answered your own question...google "Ponzi"

[BigGeordie]

A 9% average monthly return will turn 100 dollars/euros whatever into 281 in a year if you reinvest the monthly profits. How can that possibly not be a scam, tripling your money in a year?

[ualgrizz]

Jace, I didn't ask a question about ponzi…I certainly know the definition. I simply asked what crew has/is been/being targeted…the title of the thread. The title is illogical…they don't target. Perhaps you should use your noodle for other than a hat rack. Before you make silly assertions perhaps investigate. As with anything, don't put all of your eggs in one basket. Even he stock market is a zero sum game…there must be a loser to have a winner

[Old King Coal]

Perhaps the major difference between these schemes (scams) and the Stock Market is that 'stocks' are usually based upon legitimate (audited & legally registered) businesses whom are making and / or trading actual commodities, i.e. 'tangible' things; whereas the MO of these schemes (scams) is simply to take money from those at the bottom and feed it to those at the top (albeit with the ruse that there is some sort of forex trading going on, in an endeavour to try and make it look legitimate). Accordingly, the initial success of such a schemes (scams) is an illusion. The early entrants make their money from the eventual loss of later enrollee's.

The question needs to be asked is, if everyone is making money and getting rich, where is all the money coming from? The answer is that it will be coming from the many people that are left hanging at the end of the chain when no one else is either available or willing to buy-in to it, and they therefore the later enrollee's will ultimately lose their 'investment'.

There are those that know & admit that this is a ponzi scheme and yet, so evidently so blinded by personal greed, they still buy into it, thus exposing their total lack of integrity & morals. And so, in terms of winners & losers, it might be said that they are the ultimate losers!

[harry the cod]

ualgrizz

With the greatest of respect, your knowledge of financial basics is seriously flawed. The stock market is anything but a 'zero sum game'. You don't need to have an eventual balance of winners and losers for that system to function, the same way you don't for capital growth in property, investing in classic cars, wine and other commodities. The only link between this scam and a legitimate investment is sentiment. When people realise the truth and stop investing, this Company will fold.

That's not an 'if' by the way, it's a 'when'!

Harry

[RHINO]

This thread has given me a right old laugh as it takes me back a bit to all the other scams that I have seen over the years......do people ever learn

[Mr Good Cat]

Originally Posted by ualgrizz

Jace, I didn't ask a question about ponzi…I certainly know the definition. I simply asked what crew has/is been/being targeted…the title of the thread. The title is illogical…they don't target. Perhaps you should use your noodle for other than a hat rack. Before you make silly assertions perhaps investigate. As with anything, don't put all of your eggs in one basket. Even he stock market is a zero sum game…there must be a loser to have a winner

This isn't a farmers market with real living cows and pigs, it's neo-classical economics.

If you have money in it as an early joiner, you might be one of the lucky ones. If not, just put it down to experience and don't let yourself get sucked in by criminals ever again.

Good luck.

[You rock]

Hi Gents

Have done some homework on this

The company places it trades through myfx book, have spoken too money managers in regulated places like the UK.

It is difficult too put a dud website up but numbers could be fudged

further more the money managers I have spoken to have said that some are doing 7 to 8 per cent a week

they did mention that 9 per cent is achievable a month

Managed forex accounts have been up and running for some time but all the rage at the moment was Algorithmic trading

The gent I spoke too did mention and dare I say he was regulated in the UK that banks are at the moment are not employing money managers but more so guys that were capable of designing architecture that could provide returns at these levels.

I mentioned this group averaged 9 per cent a month as indicated on their website

I mentioned too him why are not banks trying to by the intellectual property behind these guys and his words were that no bank could ever pay them enough

physically impossible to buy the algorithmic trading platform

I am sitting on the fence on this one.

I did mention why are they based in the BVI, response was simply tax ( his words more companies registered in the Belize than there is in new york)

I don't know boys

I did say there is no mention of the owners and he did say that is a risk.

He did mention these guys are leveraged heavily and they were only leveraged at 1 to 3 where as these guys were leveraged at 1 too 200

Im not a supporter but someone whom has tried to debunk both sides

as I say my nose still smells a duck but I could be wrong

Still on the fence with the legs on the conservative side

Anyone out there with some superior knowledge with forex managed accounts

ps did ring Century brokers in Dubai they dint offer the product but they know it exists and becoming more the norm.

Can I ask could we try and debunk the product here in dubai before we completely turn a nose at it

[You rock]

and it could be a scam

[You rock]

Originally Posted by Econ101

To the believers, and the guys who recently put their bonuses into the scheme. Get your money out now. Do not let them scam us again. History has a way of repeating itself. The facts:

Econ101

Can I ask have you done or asked how the pie charts or graphs work on my fxbook ?

Can you please explain as I am still at a loss.

Your saying how on earth they pay out on average 8 to 9 per cent a month on investment when their growth only increases by 4 per cent.

Just do a simple search on how my fx book works and the answers are there.

[Michigan777flyer]

ECON 101

From his comments and assumptions I think he got screwed over on a few occasions in ``investments`` in Dubai, and anything he hears about just turns it negative right away.....that is his decision of course, and opinion.

Also interesting form his comment is the following.....``the reporters that took down MMA trading are looking into this one``......which is possible I am not questioning that.....what he fails to do is know that facts......MMA was not ``taken down`` by reporters.....but rather MMA failed to pay their clients, and then the word spread, and that is how MMA collapsed on their own, and the the papers reported it.....I think there is a HUGE difference in what actually happened and what ECON 101 is saying.

Some of these guys can not be talked to, and explained, whether you have good explanation, reasoning or anything.....they just won`t listen.....they just hear what they want to.

Oh well their choice.

I have twice now explained that making 9% a month is pretty easy and simple....but again they just disregard that.

This company does NOT say that they WILL MAKE 9 % return every month....they simply state that the average expected return is 6-7 % per month......but again they missed that point as well.

The title of ``targeting crew``.....that is HIGHLY INACCURATE....from the people that I heard....no one has ever received a phone call, or email, or anything........so they consider this a scam....but not all the harassing phone calls that you get from guys who promise you a great retirement building scheme.......interestingly no person warned others about those offers.

[Heriguez]

I agree that people need to be warned about those scam,
If you don't think so please tell me what would you do if your wife girlfriend son daughter would like to open an account with them;
I am not into this subject, totally unexperienced and reading all these posts just gave me a lot of information;
I still have a Choice that would definetly be more ponderated than the one I would have done before reading them;
I met with one of those guys and he told me he has only one account; it felt a bit weird....why would you have only one if you work for the company?
Michigan can you affirm that you would be able to have a steady average profit like the one you told us for 4 consecutive years?
Could you convince me, a new guy in this area, that this is possible?

[Stone_cold]

Hi Heriguez ,

I can .

Just wire me your 20K and convince your wife,girlfriend(s) ,daughters,sons, their friends ,aunts ,uncles , step-parents , teachers ,neighbours , maids , plumbers and please tell them to invite those they know to join also .Once you can keep the happy family going and growing( you know the power of compounding and leveraging and all that , (I don't mind sharing the wealth) , I guarantee your returns for 4 years . BTW , how much do you seek(5,10,15% per month?) , not that this will be an obstacle , just curious .

I don't want to get too technical , my best buddy and neighbour ,Buffet doesn't like to give up all the secrets . You can find all the details on our corporate websites ,
www.weluvidiots.com or www.1kukuconvincedtherest.com . You will notice that we are registered in N Korea because Mr Kim was so impressed that he has provided full tax free benefits for the initial investors along with full residency status , plus 4 draws in the US green card lottery .

Let me know when you wish to start . Time is money ! Chop,chop!

[RHINO]

Love it! Stone cold more please!

[Michigan777flyer]

WOW....now stonecold.....that is a heck of a response.....I can just assume another ``10 years with EK pilot`` and you sure sound just as smart as most of the highly talented individuals we get the pleasure to fly with.......you are sure special.

But for some reason I am sure that other then you having a provident fund, you have absolutely no other financial knowledge about stock market, or how the ``system`` actually works.

There is nothing impossible about +9% per month......

But again there is NO ASSURANCE.....and let me be clear.....that this company is NOT SAYING there is either.......unless I have missed it on their website, or if you so talented 10 year people can point it out to me.

[Stone_cold]

Hey M777!

Time to get your head out of your @ss and lighten up .

Not even one day in EK . This is not an EK site . So as the saying goes , when you assume you make an @ss out u ( not me this time) .

As for the rest of your assumptions , seems they may be as astute as the rest of your posts .

For the record , I have not addressed or critiqued any assumptions herein and you are also free to sign up with me . I could assume why you are so defensive of the issues here , but I won't .

You are very tightly wound , maybe with your superior financial wherewithall , your time would be better spent solving the Grexit .

[Econ101]

You rock: You probably meant British Virgin Islands not Belize – although both picturesque.

As to why the BVI:

Well, if you want to set up a company to hide what you are doing, the British Virgin Islands (BVI) is a great place to do it.

BVI incorporation documents do not carry the name or identity of any shareholder of director.

The names or identities of these persons do not appear in any public record. In fact the BVI is now considering new laws that would make it a crime for anyone, in any country to leak or publish information about a BVI company.

BVI Companies records and accounts do not have to be held or filed with the authorities.

There is no requirement for any financial statements, accounts or records to be kept for a BVI Company

The World Bank Stolen Asset Recovery Initiative looked at over 200 cases of grand-scale corruption and found the vast majority of these cases used secret companies and that the BVI was one of the most popular places to set them up.

With a population of just 28 000 the BVI is a haven for concealing illegal activity, 51.8% of the Government's revenue comes directly from license fees for offshore companies

Yes, zero tax. But so does the UAE

But wait, the UAE has a functioning legal system, and regulators exist. The UAE is not 100% transparent, but compared to the BVI it is Fort Knox

[Michigan777flyer]

stone cold

Thank you for the great post.....if you did not pat yourself on the back....make sure you do it now....you seem in dire need of some ego boost!!!

I am not defending that place, or anyone, anything, to me it does not matter who looses and how much, as long as I am not one of them....this is most likely very selfish to some....but it is the reality of this world.

Some people have to loose, for others to be winners.

It just depends on how much you want to be winner.

Once again all you critics might look very foolish if this turns out not to be a ``scam`` like you have been proving it for days and days.

Once again all you guys who want to fix this place, and enforce the law, as they might be doing something illegal....if you are done with fixing this.....go ahead and fix all other issues as well.....speeding on the roads, inability to understand road signs, etc......I would enjoy you trying to do that.

But as most people are these days....you like to fix this as you can do it from your chair, not having to do any physical work......this is easy work......like what lazy people like.

Good luck with your retirement stone cold......hope you have to work until your 65......we need your knowledge of everything here for a long time....you are a highly talented individual.

[Econ101]

Michigan777flyer

“to me it does not matter who looses and how much”
Hope not to fly with you soon. Perhaps you should have a greater regard for your colleagues. It might make for a more pleasant working environment.

"Some people have to loose, for others to be winners" Incorrect. Start a legitimate business, you'll hurt no one.

"Once again all you critics might look very foolish if this turns out not to be a ``scam`` like you have been proving it for days and days."
You do not seem to mind looking foolish. Neither do we.

It seems most that have invested blindly, like to believe that it is legit, and demand that it is proved a scam before they are willing to sacrifice their monthly profits.

This is how these schemes work – logic gets clouded by greed.

Anyone with half a nugget in their heads would assume this is a scam, until facts are found to prove otherwise.

As to the MMA forex scam, the cowboy who started it was a 28 year old. The money went to his head. He started publicly claiming he was starting an airline and owned a bank. He started spending his money, sponsoring sporting events and the like. Newspapers started investigating his claims in a series of articles, debunking his claims. Turned out, he did not own a bank and did not file any documents to base an airline in RAK.

The tide and sentiment started to turn. Investors started to withdraw funds.

Once there was less money coming in than profits that needed to be paid, he closed the doors. Investors that had payments delayed filed police complaints.

BTW he was only sentenced to 2 years and no funds were ever recovered for the victims. Pretty good incentive to start your own scheme. He will retire with millions at the age of 30 when he gets released this year.

To all the defenders/investors/gamblers, might you please provide any concrete evidence or facts (apart from getting paid monthly, or someone you know that is) that this is not a Ponzi. When you stop getting paid its already too late to get out.

Sentiment is turning on this one. Might be wise to divest or face Deja Vu.