28/05/2013. Daily News from the Industry

Hello everyone! I know I haven’t published since Sunday, and that it’s unusual for me to take Monday as a day off given that it’s so often one of the busiest days of the week as regards news stories. But I think you all know these are rather unusual circumstances. Given that the single biggest news event to hit the HYIP industry in the last five years just occurred with the closure of LibertyReserve and the not altogether surprising arrest of its owner I figured it was time to leave the dust settle and see how fast the admins of the programs monitored on MNO can compose themselves and start work on their contingency plans. No doubt there will be a lot of HYIPs closing, that much is pretty obvious particularly as some only worked exclusively with LibertyReserve. The better and more experienced admins will already be planning for life after LR, and I have no doubt that we will soon be seeing the first crop of new programs completely free of any connections to that failed payment processor and therefore unaffected by its closure. It may take a couple of months for the industry to recover fully – and I was expecting the summer to be a slower season regardless – but there are some interesting times ahead for all of us and I have every confidence that the industry will in fact be a better place without LibertyReserve. But first comes the pain!

In more recent developments anyone with BBC World News on their televisions will today be able to see actual footage of LibertyReserve owner Arthur Budovsky being taken away in handcuffs by Spanish police after being arrested while trying to get on a plane (his face is blurred as he hasn’t actually been extradited yet). Also included was a statement by US prosecutors labeling LibertyReserve “the biggest money laundering operation in history”, claiming that no less than six billion dollars had passed through it. Two arrested in Spain, two arrested in the US, two more on the run in Costa Rica being hunted by the police there, 45 bank accounts seized, and a frank description of LR as an online bank for criminals.

I just mention this for the benefit of that small minority of people still refusing to believe that any of this is really happening. Even the LibertyReserve blog now if you visit the page will tell you the domain has been seized and is now under the control of US prosecutors.

Anyway, let’s get on with the day’s news events and as expected not all the stories are going to be good.

TETRAFUNDS – BANKRUPT BUT THE ADMIN STILL HAS MONEY FOR HIS NEW SCAM

So starting with TetraFunds, which is being run by what must surely rank as one of the most amateur and incompetent first time admins in the business. The program has been moved to Scam Status on my monitor due to the admin’s admission that he will not be making any further payments. His other program, AlphaGains, fared little better and was also a dismal failure and a fast scam. But not content with just two fast scams, the admin has decided that stealing money over the internet sounds like something he’d rather do for a living that get a proper job. Granted if that was his intention then he seems to be pretty good at it, so he’s decided to launch fast scam number three. The thing is however that while under the guise of TetraFunds admin his final newsletter says that he is “bankrupt” and that he lost “over ten times” the amount of money that was held in LibertyReserve. Any mathematicians reading this please feel free to write in explaining how that could be possible because it’s beyond my comprehension entirely! But I think that the TetraFunds admin and I have a completely different understanding of the word “bankrupt”, because he’s certainly not acting that way to me. He earlier approached me to monitor his new program on the MNO Premium List. I immediately refused because I have no doubt how it’s going to end – in total failure and nobody except him making any money. Premium Listing on MNO would have cost him $1,200 which is what I turned down, but does that sound like bankruptcy to you? He also had plenty of cash, courtesy of the scammed members of TetraFunds and AlphaGains naturally, to pay for a script, a server for hosting, possibly a designer (as I doubt he did it himself), and advertising on other monitors. Plenty of money for everything it would seem, except to pay back the rightful owners of that money. Bankruptcy, is it? Oh, my aching sides! Below is the latest shameless “apology” for taking people’s money, and an invitation for the stupid and the gullible to hand over yet more free money. Obviously anyone with half a brain knows to stay as far away as possible from the admin’s newest program, and anyone who doesn’t listen pretty much deserves what’s coming next. Sorry, but if you insist on learning the hard way then so be it, anyone else can consider yourselves warned!

“Please read – Important update
Dear Members,
We are in big trouble after LR shutdown. We are Bankrupted. Not only the member deposited money, we have lost over 10 times than the deposited money in LR..
We are in loss. So we are closing our site. Sorry for the trouble.
Kind request, Please do not call our program as scam, because we haven’t scammed your money and its a disaster
Your’s Truly Galinec”.

MONEYINSPORTS – MOVED TO PROBLEM DUE TO MISSING DEPOSIT

For some bizarre reason Justin, the admin of MoneyInSports, seems determined to either ignore or deny the reason why his program is on Problem Status on MNO. In fact his latest newsletter on the subject is so far short of the truth as to make it positively confusing! Although he didn’t mention MNO by name, it is one of a couple of monitors to display the program on Problem status. So in order to avoid any further confusion allow me to make this very short and very simple for all of you, admin included, to understand – the reason MoneyInSports is flagged as Problem Status on MNO is because I have NOT been paid. I can’t speak for the other monitors, you’d really have to ask them that question yourselves, but MNO has been hired and paid in advance for a service. That service is to confirm or deny that the program is to the best of my knowledge paying its members. As such, that service has been delivered and I am telling you that MoneyInSports has stopped paying me. The original deposit was made through LibertyReserve. It could just as easily have been via SolidTrustPay, I really didn’t care, but for better or worse the admin decided it was going to be via LibertyReserve. OK, you all know what happened next. LibertyReserve disappeared, and all the accounts went with it. I then contacted all the admins of the programs I monitor which held my deposit in LR and informed them all, with the very same word-for-word e-mail that was sent to Justin, that it was clearly impossible for me to monitor their programs as I no longer have an active deposit there. They were all told that they would need to move my deposit to any of the other payment processors accepted on MNO. It’s only logical after all, because how can a program be monitored unless the monitor has an active deposit? What am I supposed to do, take a guess? And all the admins agreed immediately, after all, they were the ones who contacted me to ask me if I would monitor their programs for them, not the other way around. Everyone except MoneyInSports that is. Justin’s latest newsletter speaks of “shady actions” from monitors and only being interested in “lining their own pockets”, and while like I said I can’t speak for the other monitors there is nothing that can described as unprofessional going on on my part. MoneyInSports deliberately hires monitors (and if any are “shady” then I hope the admin’s judgement is better when it comes to sporting events!) to provide a paid service. However they are the only HYIP refusing to move my former deposit to a new account. Therefore as I was hired to answer one simple question – is MoneyInSports a paying program? – the answer is no, it isn’t. I can only speculate as to exactly why the admin has taken this approach, but I would suspect he has been hit severely by cash flow issues (the absence of any cash that is!) by the LR closure and would guess the program is almost out of money. The admin is promising another newsletter “exposing” a monitor (I can’t help but hope it’s me, fingers crossed lol!) but let’s just nip this in the bud now shall we. It won’t be anything other than trashy gossip invented to distract you from the one and only actual issue here, which is MoneyInSports is not paying. It might be paying someone, I really don’t know, but I can only tell you about my own account there. Further investments are at your own risk!

“Update and Sports Picks
Hello Everyone,
Guys there are no picks for today, we will be back on Tuesday for picks to all active customers. We will also have an update out later today or Tuesday depending on when a few changes are updated by our script provider. When this update goes out we will also address some of the shady actions by a couple monitors and one specific that already put us to not paying status. It should be a good eye opener as this Monitor knows most of our plan, but because it did not line his pockets he decided to move us to not paying.
Now more than ever we need our supportive customers to continue to let everyone know that we are paying. Since the LR news Friday we have seen a big slow down in purchases, and that is understandable, but we need the continued support from our people as we plan to continue on even if a couple shady Monitors try to act like they don’t understand why we are not paying to LR right now.
Post your payments, let everyone know you have been paid, continue to use MoneyInSports, and look for our update later. We feel what we are doing is going to be a fair solution for all involved. We also lost funds in LR, and with a sports book that we used with LR. That book is not paying anyone back, but we are doing something for our people even with it costing us more in losses.
Please look for the update later today the 27th or on the 28th.
Regards. Justin. MoneyInSports.

EARNINGALLIANCE – STILL DESPERATELY HOPING FOR LR COMEBACK

One man holding a lonely vigil for the resurrection of LibertyReserve is Richard, the admin of EarningAlliance (reviewed here). Some second hand rumors passed around internet forums seem to carry more weight than the growing list of international and highly respected news agencies saying otherwise, such as The Guardian in the UK and Der Spiegel in Germany, so I don’t like to be so blunt with the man but it really is time he woke up and smelled the coffee. LibertyReserve is under the control of the US government and will not be coming back. Not on June 1st as claimed in the short newsletter sent by EarningAlliance below, and not ever. Richard goes on to say however that if it doesn’t happen by then he will start working on exchanges to other currencies for the members who joined their 1.25%-2.15% for 180 business days plan with principal back on expiry using LR. My advice to Richard would be to get started on that early:

“EarningAlliance update (LibertyReserve issue)
Hello, Liberty Reserve will be online from June 1 (unofficial information). We need to wait till this date, if it won’t be back online we will start working on exchanges between e-currencies.
Thank you for your patient!
Regards, Richard Hayden”.

FXII, ABSOLUTEGAINFENIX, AND HYTEXAG – ALL SCAMS! DO NOT INVEST!

The above are just some of the programs were supposed to close as they couldn’t survive the news about LibertyReserve’s demise. The first admin who clearly stated that most probably his program was going to collapse if LR is not back online was the admin of HytexAG. The program was a huge hit among investors and a solid long lasting performer. It’s been online for nearly three months and for a program paying on a 14-day cycle it’s a very decent result. I’m sure it could have been lasted for much longer if not for that unfortunate arrest of Mr. Budovsky and his criminal accomplices. In any case, all hope was gone after the latest confirmation of LibertyReserve’s office raids and seizures and HytexAG gave in at last. There is no more payments processed from that program, so please do not invest there.

Apparently the same situation happened to AbsoluteGainFenix which was widely praised for its fine performance and an unusually long run for a program paying 104% after 1 day. The program managed to run for over a month and was apparently hit by the LibertyReserve collapse as well. I don’t think it’s any coincidence that withdrawals stopped being processed exactly on the day news reports on LR issues first appeared in the media. Please do not invest in AbsoluteGainFenix as it’s a proven scam as well now!

And finally, FXII. This one was just a joke and closed just days after being launched. The LR issue was apparently a huge blow for the admin’s finances and he stopped paying yesterday to the two remaining payment processors accepted – PerfectMoney and EgoPay. Before that though the shameless admin of FXII dared to issue a newsletter promising to convert even LR funds into the two other e-currencies for members:

“Libertyreserve Exchanges
Hello everyone,
Since Libertyreserve is confirmed no longer alive, we have decided to allow our members who made a deposit via libertyreserve to withdraw with Egopay or Perfectmoney. Please contact admin for the exchange.
Sincerely, FXII-Your Best Choice Admin”.

This email from FXII was a blatant lie and the admin had no intention not only to exchange money from LR to other processors, but even to resume the payouts to EP and PM. It was evident to me quite early however, so I moved FXII to Problem status after I realized it. Please beware of FXII and do not invest your money there!

MALAYSIANINC – STILL PAYING AND PROMISED LR SOLUTION

Despite the LR crash strong programs like MalaysianINC not only keep paying investors instantly to other payment processors, but are also promising a possible solution for LibertyReserve members that should be implemented this week in the form of an internal e-currency exchange. I’m quite sure that the admin of MalaysianINC is going to keep his promise as the script the program has been running off for about four months already is custom made and already a few times the admin added some useful new features to it. I don’t think it will take long until LR investors will be able to exchange their funds and withdraw them to any of the other payment processors accepted by MalaysianINC – EgoPay, SolidTrustPay, or PerfectMoney. For those who haven’t read my original review of this great program published here I remind that there are four investment plans with variable returns which all return your initial deposit on expiry – 1.62%-2.06% for 15 business days, 1.81%-2.18% for 30 business days, 2.15%-2.43% for 60 business days, 2.63%-2.95% for 120 business days. So far all the interest and deposit withdrawals have been processed by MalaysianINC instantly, and I hope that despite of the LibertyReserve debacle will continue as usual for a long time to come:

“Liberty Reserve is unavailable
Dear investors. How many of you have noticed, Liberty Reserve is unavailable. There is no official information released yet. We believe the situation will be solved latest till the monday. You will be able to withdraw your money as soon as Liberty Reserve will be available. If you are willing to withdraw your account balance into another e-currency, you will be able to next week. We are working on a new page, which will allow the e-currency exchange. So there is no reason for panic.”

ROULETTEGURU – LIBERTYRESERVE EXCHANGE OPEN FOR INVESTORS

Perhaps, the most appropriate and very fast reaction to the current LibertyReserve events came from the admin of RouletteGURU (reviewed here). The program is well known for its fast payments to PerfectMoney, SolidTrustPay, PexPay, and EgoPay for the 3% for 90 business days plan with principal returned on expiry. Now that LibertyReserve is gone the investors of RouletteGURU that had the misfortune to deal with LR may made an internal exchange to any other e-currency accepted by the program and request the payment straight after the instant exchange is processed in their account. Please note that a 25% fee applies for all the withdrawals (except for those done on PexPay where no fee is charged!). That is though a very reasonable fee considering that LR will never come back and the admin, as well as the investors, lost all funds stored there. Hopefully though there was not much LR money in the admin’s account at the moment it went offline and RouletteGURU will be able to continue as usual. To find out more about the possible exchange from LR to other currencies please refer to the latest newsletter from RouletteGURU posted below:

“Member Newsletter 27. May 2013
Hello all
This is to address the current situation with Liberty Reserve.
Just before the weekend, the Liberty Reserve website became inaccessible and we couldn’t process Liberty Reserve withdrawal requests.
During the weekend a lot of rumors came up — but unfortunately nothing official, nothing verifiable. Until the situation is clear, we decided to terminate the acceptance of Liberty Reserve, i.e. re-investments with Liberty Reserve are not possible.
For members who like to recoup their Liberty Reserve earnings in the meantime, the currency exchanger within the script is enabled. You may freely exchange your Liberty Reserve earnings to any of the other accepted payment processors. Please note that a 25% exchange fee will apply, due to the uncertain situation with Liberty Reserve. To do so, please click on the Currency Manager link in the member area.
Please make sure to enter your additional payment processor accounts in your profile, in order to withdraw to any other processor.
We will update you once we have more information.
Yours truly, Seb”.

EMPIREFINANCEGROUP – NON TRADING DAY AND PERFECTMONEY REPLACEMENT

Yesterday, Monday, was a non-business day in the US which celebrated Memorial Day. EmpireFinanceGroup (reviewed here) immediately took this opportunity and announced it a day when no interest would be credited to members’ accounts that usually gain 1.3% for 45 business days, 1.5% for 80 business days, 1.7% for 100 business days on the plans that also return principals on expiry. By the way, in just a few days EmpireFinanceGroup will be celebrating three years online as it started at the beginning of June 2010:

“Memorial Day – non trade day
Profit will not be added today because of holiday, Memorial Day.”

That was not the most anticipated news from EmpireFinanceGroup however. The second and now officially the only accepted payment processor PerfectMoney has successfully replaced LibertyReserve and all the deposits have been transferred into that currency. Of course due to the recent PerfectMoney announcement on the limitations for US citizens not every member can take this opportunity. The admin promised to add another payment system very soon that would be convenient to all the investors of EmpireFinanceGroup, and if you’re a suffering LR account holder from the US you’re advised to wait until the appropriate solution is offered for you, which, according to the latest official newsletter from the program, will be found pretty soon:

“LibertyReserve issue – EmpireFinanceGroup
On Friday Liberty Reserve payment system stopped working. All active deposits made via Liberty Reserve did not suffered because the investors’ funds are deposited to the brokerage accounts. We are in process of transferring current deposits to Perfect Money payment system. In the near future we will be adding some new payment systems to invest and withdraw money.
If you are a U.S. citizen and cannot open a Perfect Money account, please wait until we add new payment options, then contact our support team and your deposits will be transferred to the appropriate payment system.
EmpireFinanceGroup Support Department”.

RFIGROUP – EGOPAY ADDED TO REPLACE LIBERTYRESERVE

RFIGroup (reviewed here) was really proactive and has already replaced LibertyReserve with EgoPay which officially became the second payment processor accepted by the program along with PerfectMoney into the following investment plans – 1% for 100 business days, 1.6% for 130 business days, 2% for 150 business days, variable returns for 1+ days, all with the principal back on expiry:

“EgoPay Payment System
Dear members,
EgoPay payment system has been added as a payment method. We work our best to serve all your needs.
Stay tuned for more updates”.

It’s bad news for LibertyReserve account holders that the admin of RFIGroup didn’t say a word regarding a possible solution, which most probably means that such investors will suffer a loss. As in the case with EmpireFinanceGroup mentioned earlier, RFIGroup decided to skip yesterday and took it as a non-business day, although I have a my doubts they are actually based in the US where this holiday is celebrated. This last update is just for your information, if you’re wondering about the uncredited interest from RFIGroup for Monday:

“Memorial Day
Dear members, There will be no profit credited today due to Memorial day holiday”.

BLACKGOLD – PROMISING EXCHANGE OF LIBERTYRESERVE DEPOSITS TO PERFECTMONEY

Fortunately, there are still programs where the investors feel the admins actually care about their members during the hard times for LR account holders. One such program is BlackGold (reviewed here). The admin already admitted that LibertyReserve was gone and offered any investors affected to create a free account in PerfectMoney and then add it to their BlackGold account. In this case, the payments which were first paid to your LibertyReserve account will be transferred and paid to your PerfectMoney account. I remind you that BlackGold also accepts EgoPay and offers instant payouts on the following plans all with the original principal given back on expiry – 1% for 30 business days, 1.4% for 50 business days, 1.6% for 60 business days, 1.8% for 90 business days. Hopefully the LibertyReserve issues will not affect the stable performance of BlackGold which has been running successfully for over two months already. Here is the latest update from the admin for your information:

“Site BlackGold news posting
Dear customers!
Due to website problems being experienced by Liberty Reserve, we request that all investors who have deposited funds with BlackGold Ltd using their Liberty Reserve e-currency account please register an additional account with Perfect Money, as we will now no longer be working with Liberty Reserve.
We care about our customers – since the fixed assets of our company are traded, and we have a stabilization fund in place to protect against any such contingencies, the Liberty Reserve website problems do not affect our obligations to investors.
Please create a free account with Perfect Money (www.perfectmoney.com) and add these account details to your BlackGold account information as soon as possible so that we can continue to process profit payments to you as normal.”

PUREINCOME – WAITING FOR AN OFFICIAL CONFIRMATION OF LR CLOSURE

PureIncome (reviewed here) refuse to believe they had to say goodbye to LibertyReserve and asked investors for patience and more time till the end of the week to figure out what to do with the deposits on the up to 2.3% daily variable interest investment plans that were made via LibertyReserve. Well, I hope that the latest links from the official blog of LibertyReserve about the domain seizure as well as the files posted on the US Department of Justice website will be enough for the admin to accept the unfortunate truth and come up with an appropriate solution for LR members as soon as possible. So far I can confirm that PureIncome keeps paying promptly to PerfectMoney which has been so far the only other payment processor accepted by the program. Let’s see if PureIncome stays unaffected by the LR collapse, but read what the admin thinks about it first:

“Official Newsletter from PureIncome
This is an Official Newsletter from PureIncome. Due to uncertain situation with Liberty Reserve we’d like to clarify some things. We’re still waiting for official confirmation but informing you that in any case you won’t lose your funds and will be getting paid with PureIncome. If we don’t receive any confirmation by June 3 we will come up with other withdrawal options for you. Regarding dividends accrual on PureIncome bonds they will keep accruing and as soon as we find out some sort of withdrawal solution you can take them out immediately! Thank you for your patience and understanding. Stay tuned!
Sincerely, PureIncome Team”.

GET PAID REPORT FOR 28/05/2013

Here is the list of the programs from my monitor that paid me for the last 48 hours:
From MNO Sticky list: SecureEarn.
From MNO Premium list: NEOMutual, RewardsWeekly, MalaysianINC, BriscoFund, After100Days, RonWards, EuroStar, SecureAssets, RouletteGURU, SilverOz, JLBCO, WeltexTrust, BlackGold.
From MNO Standard list:  PureIncome.
From MNO Basic list: 12DailyFund, InvestmentCapital, MainaLimited, FiamaCorp, TheInvestmentBank, BigRichGroup, ProfitWealthClub, TradeAsiaPro, RebateDailyProfits, GoldAssetsFinance.

That’s all the news for today. I’m planning to skip tomorrow and take a day off, but if the admin of RonWards (reviewed here) replies to the interview questions I sent him a few days ago I’ll be post that. Otherwise, I’ll see you all on Thursday with the latest news from the HYIP industry and all the programs monitored on MNO. Bye for now!/a