Banners broker.com. Genuine or not?

  Sapins 07:49 AM 30 Aug 12
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Has anyone come across organisation? A friend has told me about it and she says her initial investment of $1225 has now risen in 12 weeks to $28000. I have done a google search and some replies say it is not a scam, but, the majority of hits are to a direct link to the website and a "referers" name is always at the top of he register form! Should this ring bells?

  Forum Editor 08:53 AM 30 Aug 12

Talk to your friend and ask her if she can withdraw her apparent earnings in full. I would almost be prepared to bet that the answer will be 'no'. Apparent earnings are just that - figures on a web page. Real earnings consist of money in your bank account.

This scheme operates on the basis of people 'sponsoring' others, and making commissions on the amount of business those people do. Those people sponsor others, and on it goes - it's pyramid selling in my book, but that's a personal opinion ; I make no comment as to its legality in this country.

I wouldn't be remotely interested in joining anything that operated in this way, even when confronted with the almost religious fervour that typifies the few people who sing the praises of such schemes. If it truly worked in the way they say it does we would all know about it, and most of us would be doing it.

  Sapins 09:18 AM 30 Aug 12

Forum Editor.

I'm going to ring her this evening, with quite a few questions including yours.

  spuds 11:07 AM 30 Aug 12

I seem to recall a very similar scheme that was in the news a year or so ago, which didn't turn out very good for the 'lower down the line subscribers'. Possibly based on the old 'boiler-room' methods of investments?.

Perhaps an email to one of the financial market watchdogs might bring an answer. Doubling your investment in twelve weeks, and increasing would seem to be virtually impossible in today's depressed finance market?.

  Sapins 15:06 PM 30 Aug 12

spuds, I have already e-mailed an expert at a national newspaper.

  Forum Editor 16:25 PM 30 Aug 12

"I have already e-mailed an expert at a national newspaper."

I'll be interested to know what the expert has to say. I'm doing my own research, and what I've found so far isn't filling me with optimism.

  Sapins 15:53 PM 06 Sep 12

No reply from the expert, no news from FE!

I have now spoken to my friend and she has given me the following information.

While her "business" is worth $28000 that is because she has chosen to leave most of her money in the account to accumulate more. She has in fact drawn a few hundred pounds without the slightest problem (to test the system as she put it) and it is now in her bank account in the UK. If she wishes she can now withdraw $1600, I believe monthly.

She is not by any means religeously fervent and studied it for over 6 months before joining.

There is no question of anyone having to sponsor anyone, it is not in any way like a pyramid selling scheme and it is totally legal. If you with to sponsor someone you can, but it is entirely up to you.

If Google can make over 2 Billion dollars, as in last year, from the same method of selling advertising space, and keeping all the profit, then why should this be any different? apart from giving some of the profit to members.

Anyway I have taken an account and If I do make my initial stake back I will post back here, in fact I'll post back no matter what happens.

  dave1223 23:15 PM 15 Sep 12

There is a good site, might help you.

I think it's all legit.

http://eng.mybbil.com/?p=17

  Forum Editor 23:54 PM 15 Sep 12

If she wishes she can now withdraw $1600, I believe monthly

Which is exactly what I expected to hear. If your friend has truly earned $28000 why can't she withdraw the whole amount? It's her money after all, and I can't think of a single reason why anyone would choose to leave a sum like that sitting in someone else's bank account. I suspect that the real reason she hasn't withdrawn the money is because she can't.

I made no comment about the legality of this scheme, and that is still my position.

You say that there is no question of anyone having to sponsor someone, but that's not true is it? You cannot join the scheme unless you are introduced by someone who is already involved. That person is your sponsor, and will receive commission payments on your subsequent sales. If it was not a sponsorship scheme why can't people join without being introduced by someone? You'll find that now you are in the scheme there will be emphasis on you sponsoring others, and you will try to do that, because you'll realise that it's the only way you're going to stand a chance of making any appreciable sums of money.

  morddwyd 09:19 AM 16 Sep 12

Isn't that within a hairsbreadth of pyramid selling?

  Sapins 11:04 AM 16 Sep 12

FE. I believe I should have said her business is worth $28000, now $36000, not that she has that amount to withdraw at this time.You earn the money over a set period for each "panel" you buy, your profit and hence your money, is available for you to withdraw at that time. All funds will eventually be "yours" to take out as you wish. dave123's link explains the basics, including the time it takes to qualify each of the different panels. You also have a 30day money back guarantee

I think the ability to withdraw $1200 a month is a very good return.

When I said you don't have to sponsor someone if you don't wish to I never said you can join without a sponsor, I have not come under any pressure whatsoever to sponsor someone and I am free to continue on my own if I wish to. Sponsoring is not the only way to make money, I can do quite nicely on my own.

morddwyd, there is no similarity with pyramid selling, which I am sure you know is illegal.

I'm not asking anyone to join, I posted to ask if anyone had any information that this might be a scam, no one has come up with anything!

By the way FE, who owns PC Advisor, whats it worth and can the owners get their money out immediately?

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