Some administrators of high-yield investment programs are very creative when it comes to disappearing and they urgently need to get as much money as possible before shutting the program down. There are three common ways to steal money used by admins:
1. The first one is an offer to invest in a new super profitable plan or different offers which will allegedly bring you much more profit than before in this program. In truth, those plans don't bring any profit and an admin disappears once enough money is gathered. Many investors believe those dishonest admins and make deposits in such plans but they should ask themselves before investing: why would an admin of the program decide to pay more if everything goes well? Those admins usually claim that very successful trades were made and they made some extra money which they want to share with all members of the program. Do you really believe that people are so kind and will share their money?
2. The second way implicates asking investors to pay money in order to pay them out their profit. The perfect example is GenuineOnlineBank.com. The administration of this program didn't pay out profits to investors and than told them to complete a verification process which required lots of time and to pay a fee in order to withdraw earned money. The worst thing is that the program has not paid out for a long time but it keeps operating paying selectively to some monitors! Do not invest in this program!
3. The third way is not paying investors (sometimes finding different excuses) and then saying that it is necessary to create API in order to receive instant withdrawals. PremiumGain.com is an excellent example in this case. They stopped paying and investors started receiving following email:
Hello, you need to Create API to get your payment instantly. Your request was not processed instantly because of our new script features.
You need to do following steps in order to receive the withdrawal:
1. Login to your LR account, go to Merchant Tools.
2. Click on "Create new API" ( API is for instant payments )
3. Enter the following entries
3. API Name: PremiumGainWithdraw
3. Sec. Word: Withdrawfunds2
4. Check ENABLED
5. Check TRANSFER
6. Check BALANCE
Other values leave to default.
After doing so, please e-mail me back - email@example.com and we will fix this isue.
You should be able now to receive withdrawals from us instantly as usual.
Of course, investors wanted to get their money back and some of them followed instructions. However, all their money from LibertyReserve accounts were gone after they completed the process. You can read the story about PremiumGain.com here: PremiumGain is Accused in Fraud
And today we received a question from one of our readers regarding DigitWallet.com which has stopped paying (this news was published yesterday: Short Term Dangerous HYIPs). The admin of this program has also sent out an email informing investors that they need to create API and it is almost identical to the above mentioned email.
And where is PremiumGain now? It is scam! Do not help the admin of DigitWallet steal your money! He has placed fake icons of different monitors showing that the program is paying but in truth those monitors show that the program IS NOT PAYING! We repeat for our reader Sven (who asked the question on our forum) and for everyone else: do not follow those instructions and do not create API. Be careful!