CLOSURE OF PRIVATE HYIP WBWSO

We have received a question from one of our readers regarding WBWSO.com:

“I have invested in WBWSO. I have made several times withdrawals. But my two last withdrawals have not been processed after more than 2 weeks. Do you know any problem currently with WBWSO? Is it finally a scam?”

I want to remind you about this HYIP first. The program was launched on November 21, 2008. As you can see, it happened a long time ago and the program became quite popular. Then on August 24, 2010 a decision to close a program for new members was made. We reported about it in our news: http://www.hyipnews.com/news/17529/WBWSO-CLOSED-FOR-NEW-MEMBERS/ and said that it would be great if the program kept operating for a long time bringing profits to its investors, however we also said that such move usually means a soon closure.

WBWSO.com has obviously started having problems. Delays with payouts started taking place much earlier, however the administration managed to pay out every time. This time they have stopped paying and it does not look like a delay anymore. Our reader's withdrawals have been pending for more than two weeks and unfortunately he is not the only one who has such problems.

There are many examples when programs become private clubs and then close. Then thing is, that many HYIP admins decide to “go private” instead of closing their projects or stopping paying out. While it is “private”, the admin keeps paying many investors some share of their deposits, and then a HYIP disappears. In general, it is far better than a closure because there are no investors who lose a 100% of their deposit. Even if they make a deposit right before the program goes private, they will receive at least one payment :) therefore it is at least predictable. We call it leaving "gentlemanly". However, programs anyway always stop operating after becoming “private” and WBWSO proved it by not paying. Of course, there are many exceptions in our life, so soon closure is not necessarily a rule. However, you should keep in mind the usual scenario of such cases.

Alice Wilson, HYIPNews.com