GOLDNUGGETINVEST STARTED REFUNDING PROCESS

Updated: 06/30/2010 19:43
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It’s been almost one and a half month since our last news about GoldNuggetInvest (goldnuggetinvest.com) in which we informed about the start of...

It’s been almost one and a half month since our last news about GoldNuggetInvest (goldnuggetinvest.com) in which we informed about the start of refunding process (read here: http://www.hyipnews.com/news/17107/NO-REFUNDS-FROM-GOLDNUGGETINVEST/). Today we can finally announce that the ice has broke up. We became aware that some of GNI former members got first refunds and that makes the program the biggest mystery of the past few months as it is the first time when a HYIP being closed for so long started processing refunds. This is actually a pleasant surprise. Robert, the admin of the program, reports on around $300K in refunds have already been made to members not in profit and requested a refund. Briefly, all refunds are being processed slowly but surely and GNI asks all its former investors to be patient.

Yet there are still some problems with refunding process and it will probably take more time that originally expected. The situation is being complicated by the well-known StrictPay issue. The administration of GoldNuggetInvest has decided to put the refunds to StrictPay on hold until things get back to normal. The basic part of GNI update deals mainly with this StrictPay issue and you may read it in full here:

…How StrictPay’s current crisis will impact the payment of refunds.
As most of you know (certainly those who deposited or withdrew using SP), StrictPay is facing some very trying times. The cause of their problems is nothing we can or should comment thereto, other than to say it is troubling for everyone.

At the time of this writing, the turnaround times to withdraw from StrictPay is as follows:

1. Bank wire – Maximum amount allowed / 500.00. Average time to Process (not necessarily the time client receives the funds), 29 days
2. Check by Mail – Maximum amount allowed / 300.00. Average time to Process, 29 days.
3. Loading of Debit Card – Maximum Load Amount / 200.00. Average Processing Time, 28 days As a result, we have suspended StrictPay (SP) refunds. SP has sent all of its current account holders an overview of the current state of affairs; with an assurance they will and are taking all reasonable steps to mitigate further problems. They have every intention to resume operations at their previous (albeit, some times, slow) level.

We have no reason to think otherwise, nevertheless we do not want our valued customers stuck with PP funds which cannot be redeemed for hard currency. Those of you who feel compelled to complain about the temporary suspension of StrictPay refunds, would you want us expediting your payout only to find that you can’t do anything with the funds you hold?

Understandably, most of you would like to abandon StrictPay, preferring instead to use another PP or E-Currency. While this may be an option we are forced to swallow, it is less than ideal. It will require multiple layers of client re-identification but for the currency swap, we would not otherwise need. It can ONLY slow the process, perhaps substantially, we just don’t know yet. Many of you have forwarded, documentation in your effort to expedite the process. It does not. Please refrain from requesting to switch your refund PP until we have made a final decision in this regard. Those of you who have sent verification documents to Debbie, I have instructed her to, at this time, refrain from opening these emails….she doesn’t have the time.

Those of you who have sent verification documents in your ticket, she is obligated to respond or your refund gets held up. This, likewise will slow down the show. We are hoping to know enough within the next 30 days to have enough information to make a decision whether or not to use SP in our refund process. Please keep the speculation to a minimum.

Summary
I assure all of you, we are doing our best to get these refunds back to you in a timely fashion. In a little over a month we have issued approximately $300,000.00 in refunds. We expect to maintain this level throughout the process.
Thank you, Robert & Team”.


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