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THE SITUATION WITH PREMONEY

Thursday, 20 October, 2011 at 12:35 GMT

As expected, investors of PreMoney started having problems with payouts after the introduction of a new limited time plan paying 16% daily for 4 days with principal returned on expiry and a minimum deposit of $500 (read details here). The admin is paying selectively now which can be confirmed on the popular HYI forums where you will find many reports on pending withdrawals. Meantime you will also see many payment proofs, but if you look at the paid out amounts, you will see that they all are small.

This means that the admin of PreMoney continues paying profit to all members who invested in the initially offered plans offering 2.4%-5.6% daily for 90 days and he even paid the daily profit of some investors who deposited $500 and more in the new short-term plan but he does not return the promised principals. It is crazy but some people really invested in it hoping for quick and easy money and now they do not know what to do, because those invested amounts are huge and they can not afford to lose them.

They broke the golden rule of the HYIP industry and such people have always been and will always be a target for admins. Therefore it's too bad that they lost their money but they should blame only themselves. I hope none of our readers is among those investors. Always read news and check our HYIP-list out to see which programs are problematic and which are scams. Those scam projects are located at the bottom of the list and include the following programs at the moment:

SafeDepositary, Primfix, ForexForks, RegularBee, ClarintonTrading, AVFunds, EsplinoGroup, iMakeMoneyNow, GoEarnings, StandardForex. All these projects are still operating and accept deposits but do not pay, so you must be very cautious and always double check payment statuses.

Alice Wilson, HYIPNews.com


 

Comments:
t
 
25 October 2011 - 05:32 PM
The site is down as of last night. It is now a placeholder site and was updated as of lastnight. You can see the site via google cache for a limited time. Need to contact authorities if you've lost money.
Mr Les Adams
 
27 October 2011 - 02:51 PM
For the Attention of EVA M and others!

Contact RecoverLostMoney@gmail.com

If you can provide them with the details they will start ASAP.

Mr Les
Mr Les Adams
 
27 October 2011 - 03:26 PM
Mr Les again, Sorry...best to contact the police / authorities, i've just learnt that some money recovery services can be scams too.
SteveyJ
 
28 October 2011 - 11:36 PM

View Postlizzie, on , said:

i changed the api on my liberty reserve as igot that message from premoney now my lr account does not want to open.from lizzie



Ooops ! ! Oh dear. You've fallen for an old trick.....API as a facility is used in fast moving financial situations where immediate links between different computers and accounts are necessary in order to facilitate immediate inter account transfers. However, whilst useful and required when used appropriately, it does mean that there is access between two accounts. All well and good if done between trusted established financial houses/brokers etc etc, but NOT the kind of link you want to set up between yourself and a HYIP.
Basically, you have given the HYIP open access to your account and therefore implied permission to withdraw any sum of money that they wish from your account.

Ordinarily you would retain access to your account yourself, but it would appear from your statement that you cannot access your account, - that the link instructions you followed to set up the API contained an embedded code to freeze you out once the agreement had been established. I hope you have not lost too much....
SteveyJ
 
28 October 2011 - 11:55 PM

View PostMr Les Adams, on , said:

Mr Les again, Sorry...best to contact the police / authorities, i've just learnt that some money recovery services can be scams too.



No point in contacting the Police. ......
..........contact 'The Authorities ?'.......WHAT 'authorities' ?

May I suggest a look at HYIP Agents Public Discussion, click on BE INFORMED WARNING, click on my post made on 28 Oct answering the question : How do we track down scammers ?

From this it will be realised that there will be no trace that could be easily followed in order to try to recover lost/stolen monies....Have a read.

--------------------------- --------------------------- ------------------------------- -------------------------------

Regarding Recovery Services...., yep, many are scams. Give them their fee to recover your money and you will find you have simply now lost some more money. Others will ask for backing paperwork/documentation, names and addresses of the receiving company [HYIP], etc etc, but although certainly plausible and you may consider that forwarding a fee for such a service would not be unreasonable, you will find in this particular case that no investor will be able to provide the required accurate and traceable names and addresses from which monies could be recovered. So you send off your money, an investigation will be conducted, and then you will get an apologetic reply telling you that real names and addresses could not be tracked down from the information provided. And you have lost your money ..[ again ]..

If an agency could REALLY track down HYIP real names and real addresses of the operators and therefore mount a legal case to recover money, then a no-win no-fee set up should and could be offered. This is, as we all know, already a popular legal method conducted by law firms. If recovery from HYIPs stood a reasonable chance of success, then most people would be willing to suffer say a 10, 15 or 20% fee of any monies recovered. The fact that this is NOT offered by any recovery companies does tell you something doesn't it ...? !
Preman
 
1 November 2011 - 12:26 AM
TooIncome.Com looks like PreMoney.Com. Is it a clone?
Gambler
 
1 November 2011 - 01:43 AM
Same sad story here... I invested (or should I say gambled) $5K with Premoney about 17 days ago, mostly due to all those positive "paying" reports all over Google alerts. I kept an eye on my account, and yes I was making money, at least on paper with Premoney. I was waiting to earn $5K in interest, which I would have reached that goal in 15 days at 100% compound (from opening the account), and then I was going to withdraw my "real money", and let the "interest money" roll. What's interesting is that on the day when I was ready to reach that $5K (and withdraw my "real money"), the website went off the air, and it's just a placeholder now... I'm a bit upset, but I knew from the beginning that this was a BIG gamble, and that there was a BIG chance of losing my money, and I did. So now what...? Just stay away 100% from HYIP because they are ALL crooks... ? Or just go to Las Vegas where at least I have some control on how I'm going to lose money... ? I highly agree with Preman above= TooIncome.Com sure has a smell of the old Premoney.com Good luck you guys. I wish I knew where to find an "honest" HYIP outfit, I'm a true gambler, but I hate robbery !!!
SteveyJ
 
1 November 2011 - 06:34 PM

View PostGambler, on , said:

Same sad story here... I invested (or should I say gambled) $5K with Premoney about 17 days ago, mostly due to all those positive "paying" reports all over Google alerts. I kept an eye on my account, and yes I was making money, at least on paper with Premoney. I was waiting to earn $5K in interest, which I would have reached that goal in 15 days at 100% compound (from opening the account), and then I was going to withdraw my "real money", and let the "interest money" roll. What's interesting is that on the day when I was ready to reach that $5K (and withdraw my "real money"), the website went off the air, and it's just a placeholder now... I'm a bit upset, but I knew from the beginning that this was a BIG gamble, and that there was a BIG chance of losing my money, and I did. So now what...? Just stay away 100% from HYIP because they are ALL crooks... ? Or just go to Las Vegas where at least I have some control on how I'm going to lose money... ? I highly agree with Preman above= TooIncome.Com sure has a smell of the old Premoney.com Good luck you guys. I wish I knew where to find an "honest" HYIP outfit, I'm a true gambler, but I hate robbery !!!



Hi Gambler. Sorry to read of your loss. At least you admit to recognising the true gambling nature of HYIP 'investing'. I do agree with your own admission that it was a big gamble. Perhaps you are new to HYIPs ?... 'cos $5K is a rather large sum to put into one HYIP. Also. other readers may wish to bear in mind that there are occasions when actually investing a large single sum of money into one HYIP can actually be the reason for the HYIP disappearing.....It is worth the admin's effort in setting up the HYIP that when they receive a single large sum, they may well consider a quick withdrawal of the site to make a quick profit is worth their while. Your loss, their gain.

Invest small, money that can be afforded to be lost, then trade up once the original investment sum has been recovered, but make sure the initial investment sum is not TOO large.....
ajoke
 
1 November 2011 - 10:43 PM
Hi SteveyJ. Please how do you "trade up"?
Illustrate for me please.
Thank you.
SteveyJ
 
2 November 2011 - 08:42 PM

View Postajoke, on , said:

Hi SteveyJ. Please how do you "trade up"?
Illustrate for me please.
Thank you.


Hiya. Basically, the idea is to invest your own money [of course ] initially, until you have reached a figure over and above 100% of your original investment. You then withdraw your original sum, so that the balance left accruing interest is not your real world hard earned money. At this point, it is merely 'paper money'. You leave this sum invested until it reaches a figure that you decide would allow you to withdraw some. You have then made a profit, but if, in the meantime, the HYIP had disappeared, then at least you have got your initial money back and not really lost anything other than an expected profit..

.The amount you initially invest needs to be a figure that not only can you afford to lose, but needs to be a figure that accrues enough to make it worth your while.

This figure will vary from individual to individual, but certainly I don't think you want to be putiing in the $5,000 to $6,000 amounts we have seen recently. For some, perhaps $10 is about right, for some, maybe $100. Either way, the interest you will accrue after you have withdrawn your initial investment will be directly related to the amount you leave in to accrue interest.

So, it's out with the calculator, work out your maximum investment amount [ but don't get greedy ], calculate the interest and when the capital sum can be withdrawn, then calculate how much longer you would need to leave your initial investment in the HYIP until you can withdraw your initial sum but leave in enough paper money earning interest that you think will give you the kind of return that you can withdraw from occasionally, thus you are in profit, have got back your initial investment and continue to make profits until the HYIP disappears.

That's basically it......

Now the tricky part : You have to select a HYIP [ or HYIPs] that you believe will stay around long enough to do this, plus they must have an appropriate short term plan that allows you to withdraw your initial deposit within a reasonably short term, so that you can 'work the system '. Expect to lose some deposits [ hence don't put all your money into one HYIP and certainly not an amount you cannot afford to lose.]

If you fancy a long term punt, then you may for a bit of fun, put a small amount into a long term paying plan. Again, not TOO much, but the long term plans, if left to accumulate on 100% compounding interest, IF you reach end of term and get a payout, then it really is a VERY nice amount, many times larger than your initial deposit. But again, expect to lose some deposits.

Spread your risk, keep the sums involved small and DON'T get tempted by the rather convenient compounding calculators that will allow you to consider that maybe if you put in a few thousand, you could retire next year....DON'T DO IT !

I hope the above is helpful and a clear enough explanation.
Best wishes. :)

 

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