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QUOTE (redcobra04 @ Mar 9 2010, 10:43 PM) *
I usually do not post but with all the commotion going on I think I will put in my 2 cents. There is obviously a problem with either cash flow or they are truly telling the truth about not having enough money in the payment processors, since it is in the bank. Many of these problems with payments started about three weeks ago, when we heard about the court hearing issue, because people decided they were going to withdraw until they find the outcome of the case.
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This is rubbish ! How can people decide to withdraw their money ? You know very well that terms are LOCKED for 150 days and 180 days for EMF and WBMF respectively, so unless your term has matured, you cannot withdraw, the only thing you can withdraw is your interests! which people normally do. Unless of course it so happens that a lot of investments have matured ! Now why the bloody hell would they be offering such ridiculous, unrealistic plans "Genius Premier" and now WBMF Select they so decided all of a sudden to offer it to ALL investors, that again is a major red flag......so if they don't have money in their ecurrency how in God's name will they afford to pay such high returns, nearly double the rates - if this is not a clear signal they are about to do a disappearing act, what else is ? The evidence is clear now. Their support and staff are beign quiet and not answering ANY questions and evading questions about any issues at the present.
Can we all blame this tosser in BC for wiring 25k - because everything was running smoothly before this ****ing BC incident if you ask me........I mean come on let's face it the majority of older investors bloody knew what geniusfunds really is, but regardless, on april 7 it will be officially established what geniusfunds really is, and to think that they will last until then is being overly optimistic, it's obvious that they are moving their money from their ecurrency to their banks as fast as possible, leaving just enough to pay their small investors, at least this is what it looks like............now they claim web maintenance, what ******* rubbish ! I guess we'll find out soon enough won't we ??? Much the same way Stoic Capital investors learned the hard way!
Looks like Genius will make history with Stoic Capital and 120dailypro !
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GF had to know that deposits were going to drop and withdraws were going to grow. So, if they didn?t care about their customers, they would have just closed shop then and walked away with a whole lot of money. They probably would have not gone through the trouble of pushing the case back and disappeared. However, they didn?t which gives me a little hope that they are truly trying their best to get these issues resolved.
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Means nothing my friend......Had they done a hit and run would have given enough time for people to file disputes and get part of their money back. They are simply buying time now. Once you see a growing number of people complain of selective payments and not getting paid, and sudden major new investment plans doesn't that ring an alarm ? They COULD have run, yes, but now they appear to be trying to get more money into the system in order to run away with as much money as possible....evidence is all there.........and nobody at geniusfunds has even bothered to go on forums to reassure investors or to deny such claims..........Nobody at geniusfunds has EVER answer the question as to HOW the bloody hell can they offer 13% FIXED rates to GeniusPremier investors, that is a big 52% monthly ! Is that realistic to you !?!?!?!? Since when have they gone from variable dividends to FIXED ones for large investors, this is a BIG concern that things are not going well.
Recently their team sent me compliance documents and their so-called license........I invite everybody to make due diligence with this company. They are run in a highly protected country (Cyprus) they are reporting running from a street address that is of an mostly unoccupied building with office space for rent.......enough to place 1 person in a cubicle, and coincidently, on the same 3rd floor have run some big HYIP scams ! Anybody can get a license to run a company, it is fairly inexpensive, but they are defiantely not licensed as an investment firm nothing of those documents were deemed valid, only their registration of company. All their so-called methods of trading and where and how they trade all returned negative results, false claims and could not be authenticated. So how the hell are we supposed to trust a company like that ???? Even worse, when confronting their staff about these findings, no reply back, nothing............
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With that being said I have some hope they will be able to get through these issues and be back to normal. If not, which I hope isn?t the case, it was certainly fun while it lasted.
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Funny because all the evidence points to the exit ! Their staff are acting very evasive and unresponsive lately, including their live support which you will notice makes extensive use of the COPY and PASTE feature giving the exact same responses coming out of a script book you can try it using different names you will see.........
Here is clear evidence GeniusFunds is heading for the exit!
LEt's do some math!
GeniusPremier 500k @ 13% WEEKLY rate.
That's 52% monthly.
This means, 2 months to ROI...... Starting from the 3rd month, you will earn 52% monthly for as long as your investment is active. Now tell me, how in God's name can they afford paying $ 260,000 PER MONTH ? 52% is outrageous, it spells scam all over, no investment EVER can yield that IN ONE MONTH, and FIXED rate too. So this $260,000 PER MONTH salary, would make a multi millionnaire without lifting a ******* finger.
NOW, do the same math with WBMF Select, their new plan after discussing with their "so-called" board of directors which they don't have, as these HYIP sites tend to be run by a small group of people.
52% for geniuspremier
40% for wbmf select
And even funnier.........GeniusSelect, you can withdraw your funds ANYTIME without penalty after the initial 30 days period. LOL........ Any HONEST investment firm would require funds to be held in order for them to work with your money and build profits......... they have gone from a cleverly run company to becoming an obvious scam, there is no way they can sustain such high returns on their new plans with too good to be true offerings....... Now considering that all those genius premier and wbmf select will ROI within such a short period of 2 months, GF will be in big trouble afterwards in order to pay those huge sums, so I'm thinking, they DO NOT plan on lasting for 2 months, probably 1 month, return 50% ROI, then run.......... Until someone can PROVE TO ME that they can afford paying $260,000 PER MONTH to every genius premier investor........lol
If people are not seeing the obvious scam this will turn out to be I feel sorry for you.
Yes the site is still paying but its days are counted ! Their genius premier and genius wmbf select are BIG indicators.
People obviously will be very tempted to deposit 2000 in wbmf select, because of the so called no-sale term restrictions, they figure they will put $2000 @ 40% for 30 days and withdraw it all afterwards, big surprise ! This is exactly how previous HYIPs have scammed people of their money, and as long as people don't learn their lesson, there will always be scammed.
HYIPs in difficulty
* GeniusFunds
* Infinitiva (They are under notice by the government for fraud and misrepresentation, claiming they are licensed when in reality they are NOT licensed to trade forex or offer fiduciary services. You can check here ABOUT IFSC - International Financial Services Commission
They have used the same tactics as GF, claimed that they will fill the necessary papers to fully comply and get their license. Notice was sent since October, and nothing yet.....in fact now they are ignoring all e-mails regarding this. Latest correspondance with the person in charge of this notice and have been informed that they have gotten complaints and soon they will send a cease and desist to order them to stop much like ShiftMoney was brought down for the same reasons, and also running in Belize - So as you can see the TOP HYIPs are going down in 2010, what a shame!
* Nanomoney
Reported selective payments, bad support, pending payments, and caught lying about their involvement with government. Claims that are ALL denied by competant authorities.
* Panamoney
Growing number of people reporting problems there too.
So what's left ????
I have over $3k invested with GeniusFunds. My term matures in October 2010, so I can kiss my money goodbye as of now......and so far I am at 40% ROI.....sucks!
I wish I could transfer that money all to hyifund, a very trusted HYIP, sustainable plans, honest admin.
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