If the ND Securities believes that P2P is operating illegally in their state, other states will follow suit if there are investors within their borders promoting the program. Some will say the U.S. SEC has no jurisdictions on a Canadian company. While this may be true, there are partnerships between securities regulators of differing countries.

It is in the best interest of each country to enforce compliance on businesses that are violating the laws of a partner country. In return for example, the U.S. would shut down a business in it’s own country if the Canadian SEC deems that it is violating or operating illegally in Canada.

The dominoes may have started to fall, however, no one can be sure what the outcome of the investigation by the ND SEC will amount to. The only facts that we know is that Pathway-2-Prosperity is operating illegally and not registered in North Dakota. It is also stated that those that are promoting the program in North Dakota are also breaking the securities laws.

Will this be enough to start a panic among its membership causing a mass withdrawal? If so, then the death knell for P2P has been rung. Here is the complete warning from the North Dakota Securities Commission in its entirety.

SECURITIES COMMISSIONER WARNS OF INTERNET FRAUD
Posted: August 6, 2008

Bismarck, ND – North Dakota Securities Commissioner Karen Tyler announced today that the Securities Department is actively investigating a Canadian-based, internet fraud scheme currently being promoted in several communities in North Dakota, including Bismarck and Jamestown. “Pathway-2-Prosperity” or “P-2-P Network” promises returns of 1.5% to 2.67% per day. An example hyped in its website of $100 invested in the “60 Day Plan” would return over $260 in just two months. “This has all the earmarks of a classic Ponzi scheme with money from later investors used to pay unrealistically high returns to early investor/promoters, who then bring in their family members, friends and co-workers for a ‘referral fee’,” said Tyler.

The scam claims to be a legal, private investment club and not subject to state and federal securities laws. This is completely false. “P-2-P Network” is not registered with the North Dakota Securities Department and offering for sale an unregistered, non-exempt security to a North Dakota resident is a direct violation of the North Dakota Securities Act. Local investors encouraging the scheme and referring others to invest for a fee are also violating the Securities Act as unregistered agents of the foreign promoter and could expose themselves to civil or criminal liability. Commissioner Tyler warned that investor money is leaving the country and when the scheme collapses, as they always do, it will be almost impossible to recover any part of it.

“The key to avoid getting harmed by an investment scam is to make sure you understand the product being offered and thoroughly check both the salesperson and the product with our Department,” said Commissioner Tyler. “Remember, if it sounds too good to be true, it usually is.” The investigation by the Securities Department is ongoing and individuals with information concerning this activity are encouraged to contact the North Dakota Securities Department at (800) 297-5124 or 328-2929 (Bismarck local).

As if that was not enough, more undue publicity about the warnings from the ND SEC hit the Associated Press and mentioned on an affiliated MSNBC site as well. Here is the blurb:

State Warns Of Internet Investment Scam
By Associated Press
KVLY-TV
updated 2:46 a.m. CT, Thurs., Aug. 7, 2008

Investigators are warning the public about a Canadian-based internet fraud scheme that’s popped up in Jamestown and Bismarck.

The Pathway 2 Prosperity Network website says $100 invested into a 60-Day plan could return more than $260 in two months.

North Dakota Securities Commissioner Karen Tyler says the P-2-P is operating illegally in the state and investors who recruit more people into the scam could face criminal charges.

So there you have it folks, this “investment” is starting to not sound like an investment but an illegal scam.

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A new investment program just launched on June 6 called Tradedfund.com and supposedly it is not like the other “HYIP” scams online. These are only our observations; we do not endorse or recommend any “hyip” programs. The final decision and risk taking is up to the investor.

“What we will provide you with is a steady and stable return of 7% monthly uncompounded. This allows 84% each year. Making your total profit of 252% in 36 months. These returns are based on 12 yearly payments. The term of investment is 3 years, after which you can WD your principle.” – TradedFund

It has to be noted that this new investment opportunity was started by former members of the PIPS Ponzi fiasco. One of the principals in this program is the admin and owner of the investing forum, ROLClub.com, which has been running for a few years. (Maybe after losing money in PIPS, they can do better.)

Keep in mind that because they have been scammed in previous “hyip” programs does not mean they will be successful in running their own investment fund. While it may give those that want to invest some comfort knowing that the program administrators have firsthand experiences of less than legitimate investments, it cannot be assumed that theirs will be legit either.

Even though the returns they are suggesting appear doable and not some outrageous pie in the sky numbers, it gives us pause as to how similar the site is to the common “hyip” scams. Here are some observations and questions we have:

1. “These returns are based on 12 yearly payments.” – We think they meant 12 monthly.

2. In the FAQs: Q: Do you have a referral program?
A: No, we currently do not offer a referral program. It is at our discretion whether or not we choose to offer a referral program in the future.

In “Cancelation” under the Rules:

“Any TradedFund member can cancel or terminate his/her Account(s) at any time and without any notice. This will mean that the member will no longer receive referral commissions but will continue to receive dividends as stipulated within the “Plan” until such time that the particular “Plan(s)” has/have reached maturity.”

So which is it, referrals or no referrals?

3. “It is what it is..” – We do not like the idea of not knowing where the investor’s money is going. The funds are being piggy backed on what they are investing in.

“We have been asked what OUR OWN “Personal & Private Portfolio” consists of, or even what we are ALREADY currently involved in ….. FIRST of all people, it is what it is ….. OUR OWN “Extremely PERSONAL & 100% PRIVATE Portfolio” !! However, this DOES vary, as it largely depends on what is available at any given moment in time !?! >”- TradedFund

4. Limited methods of deposit. At this time, it’s only Liberty Reserves.

5. In the FAQs: Q: Is Tradedfund Legal?
A: Legal and clean! Although every country has different views on foreign investments, TradedFund operates in a jurisdiction where it is 100% legal to manage private funds internationally. Again people, you must ALWAYS realize / understand the fact that YOUR funds SIMPLY “piggy-back” on our own “Personal & Private Portfolio”!! If you are unsure whether you are allowed to participate in your country, please ask a registered advisor of your rights to participate in private investments, private “Clubs”, funds and loan clubs (these are the categories it legally falls in).

We question that considering the site is hosted on 64.15.73.90 which through a reverse DNS shows as being in Canada. Securities laws in Canada are similar to those of the U.S. in regards to the management of investments for individuals, so caution should be taken here.

6. The use of “hyip” Monitors as a rating service is in poor taste with the all the negative history of such so called monitoring sites like Talkgold had with self promoting scammers rating their own sites to get more victims.

7. We are not sure how they can offer a “guarantee” that the principal is protected. If that is the case, then the investment is literally risk free. We have seen many programs that have claimed that or said a smart part of the investors funds was put into a second pool account for “safer” investments to protect or recover the principal in case of catastrophic losses. That turned out to be untrue in when the program collapsed.

If you have been burned one too many times already, ask yourself what makes this program any different from all the other “hyip” scams. Is it the faith and trust in the admin who have also lost money in the scams and finally wants to do something good for others?

There is a 50/50 chance here with this program. Either it does what it says or it will fail like the rest of them. A lot of people are going to try to “test” this investment with a minimum of $100. That is a safe gamble, however, 36 months is a long wait to get the total of your profits and principal back.

As always, do your due diligence and be prudent in your investments. We will see if they are still around in 3 years.

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First there was DoublingStocks .com and now a new site PromoStockPicks.com promises to make investors rich from their stock picks. (It makes us wonder if it’s the same people that created the stock trading robot.) The sales pitch is actually convincing and so are the testimonials; unfortunately, it’s all one big blatant lie.

“The following must be read in its entirety before purchasing and/or using any information contained on PromoStockPicks.com”

We don’t have to say it in our own words because they do a good job telling you in their “disclaimers”. So go read it and save yourself $47. If that’s too much work, here’s an excerpt from the Information Warning and Investing/Trading Stocks section of the Disclaimer.

“Information Warning: …..Accordingly, you should assume that all such information has been completely fabricated. For example, all people, events, and dates (as well as all related subject matter) mentioned on this website are fictional. If you choose to access this website or purchase any of our products/services, you must understand that none of the information we disseminate is to be taken seriously. Is should also be noted that if you do choose to pay for a subscription to the fictional Jason Fuller’s email newsletter, the newsletter does occasionally accept compensation from publicly traded companies for advertising purposes. You should assume that all trading results featured on the PromoStockPicks.com website and/or email newsletters are based on hypothetical or simulated performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. …..You should not expect to achieve results as good as those described in the testimonials, especially since the testimonials are fictional.”

“Investing/Trading Stocks: ….Neither the fictional Jason Fuller, nor PromoStockPicks.com employees are registered as investment advisors, financial analysts, brokers, or dealers in any jurisdiction whatsoever….”

Though they admit that it is all fictional, they know that a large percentage of investors will never read the disclaimers before subscribing. If challenged, they will say they have disclosed these facts and the buyers should have read the disclaimers. This has scam written all over it. It may be an elaborate hoax, but they are profiting from it which makes it unethical. These guys definitely got some balls. Once again, buyers beware and always read the fine print.

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It has been almost five years since the current Iraqi Dinar (IQD) was introduced by the Coalition Provisional Authority some time between October 2003 and January of 2004. Since that time, a multitude of websites appeared and heavily promoted in the investment of the new Iraqi currency as a once in a lifetime opportunity to make a fortune.

As it stands, only the promoters have made a killing in the selling of the currency by charging a premium to what the actual exchange rate of the currency is. Extrapolating past data and current data, one can assume that the “investors” have not broken even or may still be at a loss with their investment.

The earliest quote available from XE.com was on June 1, 2004 where the exchange rate was 1455 IQD for 1 USD. The current exchange rate today, November 27, 2007 is about 1223 IQD. This equals to $817 USD for 1 million IQD. Based on the fact that some sites like buydinars.com are charging $1150 for 1 million IQD, it is a losing proposition for the investor. A 40% gain for the seller; not bad.

What investors are finding out is that there is no market for the IQD; no liquidity period. Basically, they are owners of almost worthless pieces of paper that can be framed and hung on the wall as decoration. If they are fortunate, they may be able to resell to another unsuspecting person on eBay to recover their money spent.

The promoters like to make a convincing sales pitch using the Kuwaiti Dinar (KWD) as an example of what can possibly happen. They want you to believe that your 1 million IQD will one day be worth between $100K – $1M USD. If the sellers really believed that, why are they not just hoarding it all for themselves? Why are they going through all the trouble setting up websites and buying Dinars to resell?

The reason is simple; the promoters are making a lot of money selling a dream. Iraq is not another Kuwait. Post-Gulf War Kuwait still had a stable government, stable economy and an intact infrastructure which enabled its currency to quickly return to its previous value.

In comparison to Kuwait, this is the current status of Iraq:

• A broken infrastructure
• $125 billion of external debt
• Millions of dollars in post-war debt
• No stable government
• An ongoing insurgency
• Limited oil production

Iraq’s oil alone will not cause the IQD to appreciate. It is its economy, government and infrastructure that will have to drastically improve before there is movement in its currency. While much of Iraq’s debts were forgiven, many of those same creditors will not reinvest in Iraq for a long, long time. It is like not loaning money to a person with a bad credit rating. To put things into perspective, there are other countries that are relatively more stable than Iraq, however, the value of their currency is unstable or have not appreciated much.

If you are basing on the rise of the IQD on its oil resources, look no further than the Venezuelan Bolivares (VEB). Venezuela is one of the world’s top 5 oil producers which accounts for 80% of its exports. In January 1, 2000, the exchange rate for it was 647 VEB for 1 USD. Today, it is 2,147 VEB. This proves that there are many other factors than just oil to keep its currency stable.

The Vietnam Dong (VND) is another currency to take a look at. It has been over 32 years since the end of the Vietnam War. It was not until 2001 was trading normalized with the U.S. In those 32 years, its infrastructure was being rebuilt and its economy is now booming, however, the currency does not reflect it. The exchange was 13,942 VND on January 1, 2000 and today, it is 16,073 VND to 1 USD.

If you are betting on a meteoric rise in the IQD, you might as well look at the Turkish Lira (TRY). You can get 1,000,000 Liras for 1 USD.

Many of the IQD supporters speak of this magical “revaluation” that will happen some time in the near future that will skyrocket the value of the Dinar. This revaluation will be nothing more than like a reverse stock split of the currency. It will probably be a repeat of Mexico’s own “revaluation” of the Peso back in 1993.

At the time, 2,894 Mexican pesos was about $1USD. The revaluation took place and 1000 pesos became N$1 nuevo or “new” Peso. So 2,840 pesos was now N$2.84 nuevo Pesos. In 1996, nuevo was dropped from the name and reverted back to Peso. Today’s current exchange rate is $1 USD = 10.97 MXN Peso

In 1990, if you bought (exchanged) 2,894,000 Pesos for $1000USD, today after the revaluation, you would have 2,894 “new” Pesos / 10.97 = $263USD. And this is with a country that is much more stable than Iraq or Vietnam with lots of oil. After about 15 years, you would have lost over 2/3 of your money.

Investors in the Iraqi Dinar are in for a long and unpredictable wait. Hopefully, the money invested will not be missed for a while. At this juncture, “investing” in the IQD is not a very good investment and highly speculative.

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SOMETHING DEFINITELY STINKS IN THE STATE OF CZECH – Lee

High Capital is the operating name of an international investment group called TC&P Trade based in the Czech Republic. It is has been in operation since 1993 and is fully registered with the Czech Chamber of Commerce Department since 1992. Due to their growth and above average returns in the private sector, they decided to serve the general public in 2003.

High Capital focuses mainly on the U.S. and European stock markets and has done very well in the past few years. They offer the investor two products, a Fixed Income or Variable Income (Day Trading) investment. The Fixed Income programs have averaged a return of 11-38% per annum. The Variable Income, however, has shown an astounding average return of 100% per annum for the past 3 years.

Our Fixed Return Programs are the same as fixed annuities offered by most of the insurance companies but have higher fixed returns. Fixed annuities are characterized by a minimum interest rate guaranteed by the issuing insurance company or a mutual fund.

Depending on the investor’s needs they are able to offer investors both Single payment and Series of payments investments depending on the investor’s preferences. Benefits are subject to be paid at maturity or can start to be paying at the beginning of the following quarter or month in case of investment in Immediate Annuities.

Stocks Day Trading – Above average income is gained due to multiple entries throughout the day along with strict cutting the stop losses at their early points. A variety of independently acting trading systems are used to make investment decisions including technical and fundamental analysis. Up to 80% of the portfolio consists of medium capitalization, high volatile stocks. This eliminate any chance of substantial drawdown. Portfolio is diversified among industries to minimize risk of influence of any industry structural problem news on a stock price during a day.

Additional programs in the Variable Income category includes; Micro Cap Stocks, Small Cap Stocks, Mid Cap Stocks, Large Cap Stocks, and Managed Accounts.

Day trading is risky; however, High Capital has implemented a drawdown protection strategy.

Our Day Trading Program is protected from any drawdown by trader’s capital. Due to high risk of the program all traders have at least 30% of their own capital in all capital invested. Any possible loss due to drawdown is deducted from traders part of the capital, while investor’s capital remains the same.

Maximum drawdown possible in the strategy is 10%. However usual drawdown never exceeded is 3-4%. Unlike hedge Funds investor’s money are safe and the only risk our client bears is risk of non-gaining interest during loosing trades.
Use of this method allow us to attract only experienced US stock market traders using timely proven trading systems and safe 100% of investor’s money in case of negative performance.

To open an account, the minimum initial purchase payment varies from $500 up to $2,500 depending on the investment plan you applying for. You can either call them or open up the account online and submit your funds via wire or direct deposit.

High Capital conforms to the requirements of anti terror and money laundering laws, so be prepared to submit private information when opening an account.

Contact Info:

Phones
International Customers: +1(425)307-9664
Fax
Please send your faxes to +1(800)993-9432
Email
Our Customer Services email is info@high-capital.com

Offices are open 8:00-17:00 NY TIME

UK Office
114 Lunderston Drive
Glasgow, Scotland G53 6BS
United Kingdom
Phone: +44(0)7737300475
Phone: +44(0)7787821930

European office
TC & P TRADE
Borivojova 35
Praha 3, ZIP Code 13000
Prague, Czech Republic
Phone: +420-607717796

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Once again, in my opinion, I feel another big scam is in the makings. The only pathway that P2P is leading this big group of lemmings (3182 members at last count) is off the cliffs, right after their pockets have been emptied of spare change. It still amazes me how many people out there will forgo logic once greed sets in with promises of a fast buck. The lessons are never learned of past scams.

Just reading the FAQs on the P2P site makes by bones shiver and the hairs on my neck rise. Take for example.

Is this a HYIP program like others I have seen?
No – never! If you read the content of “P-2-P Network” and the H.Y.I.P. report you will see that we do not believe in H.Y.I.P. and the systems that 99% of these operators follow. It is fairly easy to see – look at the interest some of them offer – ridiculous! Taking money from one to pay another is a highly illegal practice. Investing in H.Y.I.P. systems is totally a risk you take (a risk we do not take). The funds you place in “P-2-P Network” is genuinely invested and real returns are paid.

Yet, halfway down the page some fantastic returns are listed. They have four different investment plans. There is a 7, 15, 30 and 60 day plans with a 1.5 – 2.5% respectively per day in interest depending on the plan.

“60 Day Plan” – You earn a Net Profit of 2.5% daily for the 60 days, on top of your initial investment, thus if you choose to make a withdrawal, you would receive a return of 60 x 2.5% = 150% PLUS your initial investment !!

And they give an example as to what a $100 dollar investment will do.

Here is an example of $100.00 invested in the “60 Day Plan”……..
$100.00 x 2.5% = $2.50 x 60 Days = $150.00 PLUS your initial investment of $100.00 = $250.00

Ok, I see how it works. It is a return of 150% every 60 days. (This isn’t ridiculous is it?) Let’s do a little math shall we? Just suppose an investor started with $1000 dollars to begin with. There are 365 days in a year, so that is 6 rounds of 60 days if he chooses to invest in the “60 Day Plan” and re-invest at the end of each 60 day cycle.

• 1st 60 days = $ 2500.00
• 2nd 60 days = $ 6250.00
• 3rd 60 days = $ 13,125.00
• 4th 60 days = $ 32,812.50
• 5th 60 days = $ 82,401.25
• 6th 60 days = $205,078.13

There you have it; you can turn $1000 into $205,078.13 in the span of ONE year using the 60 Day plan. It gets even better if you have a longer timeframe and are not in a big rush to withdraw your new found wealth. Let’s see what happens if you reinvest the $205K for 6 more cycles in the second year.

At the end of the 6 cycles of the second year, wait, make sure you are sitting. You will become a multi-millionaire with a whopping $59,603,644.78! You make all this money from a paltry $1000 dollar investment. Retire in style in 2 years. Wait, why stop here. Don’t you want to make the Forbes list?

If you reinvest those millions in their 60 day plans again. At the end of year number 3, you will become a multi Billionaire! $14,551,915,228.37 Billions to be exact. Bill Gates, eat your heart out. You will be joined by 3,182 new billionaires. And collectively, if all these members followed the same plan with $1000 dollars, it will make the largest mutual fund in the world pale in comparison at P2P’s assets at $46 Trillion dollars.

So did you all get that? Google some “compound calculators” and do the math yourself. “It is fairly easy to see – look at the interest some of them offer – ridiculous!” is an understatement, right from the horse’s mouth.

Okay, so what does this all mean? You are still not convinced that there is something fishy going on? Well, let’s move on and take a look at that web page again.

We know that Nicholas Smirnow is the admin of this program and website. The same name is listed for Pathway-2-Prosperity.com, which seems to be in limbo since October 21, 2006. We will get back to this.

If you look at the scripting and verbiage on Pathway-2-Prosperity.net, it may ring a bell if you have been in the “HYIP” arena any length of time. It is the same exact wording found on many hyip scams in the past. Oddly enough, if you do a Google search on this sentence, “same software that HYIP scammers use” from one of the paragraphs on P2P’s site, one particular scam comes up. Here is the search result. And if you click on the Google cached link for InvestPlace, you will see the cloned verbiage that P2P is using.

Investplace.com was a huge scam. If you do a search on Investplace in all the hyip forums you see that thousands of members have lost money in it. The admin shut it down and disappeared with their money. Like most of these scams, of course, there were those that made some money in the early stages just to bait in the losers in the end.

So what does this have to do with Nicholas Smirnow? Is he the one and the same admin for Investplace.com? I’ll let you decide, but I can say he was involved.

We know that Mr. Smirnow is working under various company names and usually use the name of “rddirect” as his alias or username in various programs and on forums. I sure hope the word “DIANIC” stands for Diane, his wife and Nic, because you’ll get a good laugh if you do a search on it.

Nicholas Smirnow / CEO
R.D. DIRECT Marketing Group
N.D.S. Enterprises
DIANIC Holdings International
801-795-7976 (Business Voicemail)
908-325-7292 (Fax)
rddirect_biz@yahoo.ca
rddirect@veretekk.com
rddirect_NoBrokenPromisesHere@yahoo.ca
smirnow@sympatico.ca
admin@Pathway-2-Prosperity.com

Now go to this site and see all that he was and is involved in.

http://all4webs.com/v/t/dianic/

Towards the bottom of the page, what do you see? First on the list of “The Heavy Hitters” you will see Investplace being promoted.

THE HEAVY HITTERS !!!!!

Invest Place

http://www.investplace.com/index.php?ref=rddirect

“FREEDOM AT LAST”

http://www.epibiz.com/rddirect

“LIVING MY DREAMS”

http://www.3dcity.com/rddirect

“FINANCIAL FREEDOM 4 ALL”

http://www.emeraldpassport.cc/rddirect

“PREDATOR MARKETING SYSTEM”

http://www.predatormarketingsystem.com/harald

“Success Synergy Systems”

http://www.successsynergysystems.com/?2556

“Pathway 2 Prosperity”

http://www.pathway-2-prosperity.com/?r=00001

I suppose Nicholas Smirnow forgot to update this page. Which brings us back to Pathway-2-Prosperity.com, because in itself is not a big deal, but holy cow, how many programs has Nicholas been involved in that hasn’t panned out? I must be missing something because according to Nicholas, he is a real successful businessman as stated in his personal note on this site. Note the rate of return on this posting is 250% for the 60 day plan. This page also says he is good friends with Sir Richard Branson, the multi-billionaire. Somebody care to call Sir Richard?

http://www.turnkeyplan.com/autosurftraining/p2p_help.htm

Last, but not least I find it interesting the great extent that transparency is being avoided. I don’t know about anybody else, but when I invest a large sum of money with someone, I need to at least see a business plan, and offering memorandum or at least a prospectus. If nothing else, a receipt or contract with a signature and address of whom I have placed money with.

Is “P-2-P Network” legal?
Legal and clean! Although every country has different views on foreign investments, “P-2-P Network” operates in a jurisdiction where it is 100% legal to manage private funds and investments internationally. If you are unsure whether you are allowed to participate in your country, please ask a registered advisor of your rights to participate in private investments, clubs, funds and loan clubs (these are the categories it legally falls in).

Where might this jurisdiction be? Well, if you ping www.pathway-2-prosperity.net, you get 83.98.157.119. A Whois lookup reveals that this domain is hosted in Amsterdam, NL. I now feel much safer. The hotbed of the Nigerian bank and lottery scams.

% This is the RIPE Whois query server #3.
% The objects are in RPSL format.
%
% Rights restricted by copyright.
% See http://www.ripe.net/db/copyright.html
% Information related to ‘83.98.157.0 – 83.98.157.255′

inetnum: 83.98.157.0 – 83.98.157.255
netname: NL-HOSTING2NV
descr: Hosting2nv
descr: Amsterdam, NL – Hosting Services
descr: http://www.hosting2nv.com
descr: *****@hosting2nv.com
remarks: *************************************
remarks: ABUSE CONTACT: *****@hosting2nv.com
remarks: *************************************
country: NL
admin-c: CM5763-RIPE
tech-c: CM5763-RIPE
status: ASSIGNED PA
mnt-by: ROKSCOM-MNT
changed: ******@as25232.net 20070416
source: RIPE
person: Cynthia Minton
address: 17348 Palm Drive
address: Montverde, 34756 FL
address: United States
phone: +1.3219479897
nic-hdl: CM5763-RIPE
changed: ******@as25232.net 20070327
source: RIPE

% Information related to ‘83.98.128.0/17AS25232′

route: 83.98.128.0/17
descr: The AS25232 Network
origin: AS25232
mnt-by: ROKSCOM-MNT
changed: ******@co-locate.nl 20040114
source: RIPE

I am not quite sure what the connection is with Cynthia Minton of LucidityHosting in Florida. They either physically host the site in Florida and the IP is provided by ROKSCOM for an overseas appearance, or it is actually hosted in Amsterdam and LucidityHosting was just the reseller.

P2P has a business phone number in Nevada, a home number in Ontario, Canada and a website hosted in Amsterdam. Without an address, do you think you can recover your money if something catastrophic happens with no legal proof?

There are definitely too many red flags, but once again OWI leaves it up to you the reader to make your own best judgment. Known public information is presented here. If you think you can become a billionaire, from the rate of returns they have proposed; no one is stopping you. Do the due.

Various financial services like buy to let mortgages and different kind of credit cards are offered by all banks. The secured loan offered by bank also include business loan. You can find information about several mortgage deals through mortgage broker leads. For buying a home you can get help by low interest home loans. For families life insurance plans are available at cheaper rates.

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Between GINS and PIPS, thousands of investors lost millions of dollars and may never recover a single penny. The mastermind behind GINS was tried and convicted in Singapore for illegally running a business without the proper licenses. He also had over 60 charges of fraud against him.

PIPS followed the same paths to failure. Brian Mardsen and his wife are both currently in a Malaysian jail awaiting trial for exactly the same type of charges as GINS. It does not look very promising for those that “invested” in this program as well.

We now come to SNG, in which the similarities to the two previous scams are striking. According to their website, they are currently not accepting any new members until further notice. (There are some disconcerting reasons why they are not accepting new members at the moment.) Should they open up again for new members, there are some facts you should consider before sending in any money.

1. SNG is registered in Panama and claim that they are licensed. GINS/PIPS said they were licensed as well. We know how that turned out.
2. Just like the previous two scams, they promise an unbelievable daily return on your investment that is compounded. (3% per day is unsustainable by the best of traders.) What exactly are they trading is anybody’s guess.
3. They claim to have the investors’ money in trading pools that are managed by experienced traders for about 170 days in each pool. Just like the two scams, no one knows if these traders actually exist. It is once again clouded in a veil of secrecy. There may be no trading at all.
4. To date, at least 4 pools should have matured, however, there is no evidence or proof that any investors have been paid a whole amount of the investment besides the small referral commissions. No one has gotten their principal back either.
5. When they stopped taking new members, they announced that trading had ceased as well. They had to consult with lawyers to clear up some legal issues regarding “know your customer” matters for the traders to continue. It has been almost 10 months since.
6. Fact #4 may have come as a convenience or scapegoat because of another private group called AceInvest that brought into SNG over 3000 members and millions of dollars as investment. SNG refused to payout to AceInvest and its members their returns which would have matured into the 100s of millions, if in fact SNG did any type of trading. A resolution was not reached and SNG would not even consider returning just the principal to AceInvest and its members calling the money “laundered”.
7. AceInvest promises to take legal action against SNG and suggests that they have evidence that SNG is a fraud and scam.
8. An ethical business should at least return the principal funds to AceInvest and its members and free itself from the so called “laundered” money. The burden of proof would be on AceInvest to deny any charges of money laundering; however, we have not seen any government jurisdictions make this allegation. If so, they will follow the money and where it leads ends up at SNG.

Tom Sornes is the man behind SNG. Some say he is known for being affiliated with several scams in the past. We here at OWI are not saying that SNG is a scam. We are presenting to you what we can gather. If they open up again for new members or you receive an invite, please visit www.sng-scam.info and make your decision. Pandora ’s Box may have been opened up by AceInvest. If they are legit, they can survive, but if it’s all one big fraud then they will be exposed.

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