John, Profit Placement Funds explains,
It is with a heavy heart that I must bring you all disappointing news.
This past week has brought news that will force me to terminate this current program.
While I am not at liberty to discuss this news, I can state it is of a personal manor and must be dealt with right away.
I will not be in any position to run this program now and for some time to come, therefore I will be beginning the process of refunding any member that is not in profit.
I know many of you had high hopes, but those hopes will have to be put on hold for now. I must take care of my personal business before I can consider taking this program any further.
I appologise that this has become short lived, I assure you it was not intended to be as such.
In the memo of each egold depositor, I will be listing three abbreviations.
TD- Total deposited
TP- Total Paid out
BD- Balance Due
It will take some considerable time to take care of all these accounts. When I say time, I do not mean weeks or months, I mean days.
Please be patient while I go through this process. This is not easy for me, so please allow me to do what I need to due, without emails and PM’s.
I can’t say I wont be back, but for the near foreseen future, this is the way it has to be.
Thank you all for your support, you have no idea what it has meant to me.
John
The faith of the refunds will definitely come, a pity this has to end
Sunday, October 29, 2006
Thursday, October 26, 2006
Profit Placement Fund Closes Offer
Profit Placement Fund is closing its offer. You can stick to this HYIPRank thread for more information.
Wednesday, October 18, 2006
NSFG Pauses for 3 Months
Bad news usually follow one another. Paul, NSFG breaks a pretty shaped state that they’re in. So we’re good to assume that the past NSFG updates might not be real after all, those e-gold exchange ordeal and stuffs.. I’m not here to judge.
Hello Everyone,
What I am about to say I something that I had hoped we would avoid, however circumstances have dictated that we must take action now, and that action is not going to be popular for some of you.
I will start at the beginning, many of you may remember way back when we first started we were using ACM in Switzerland as the broker for our Pool Account, and then switched over to FXCM in February so we could run the Managed Accounts.
The problem started when we took our money out of ACM, because of their strict Anti Money Laundering Regulations the money had to be returned to the account which was on file held with them. The account in question at that time was our old Danish Corporate Account. The money withdrew from ACM without a problem, however as soon as it hit the Danish Account, the Danish Financial Authorities were all over it.
Ken was called in by the Ministry of Finance to prove what this money was, which we promptly did. However this did not satisfy them and they refused to release the money in the account to us for onward transportation. After taking legal advice it was clear that we were not going to be getting this money back and the Ministry of Finance went so far as to say that they are keeping this money so that they would not charge Kenneth with breaching Financial Law in Denmark for the handling of other people’s money. In short we had no option but to accept their token offer and move forward.
After this and following the deposit of all the money that was at the time held in E-gold and the Cyprus Bank Account we were at a position of being at 50% liquidity.
We had two options at this point, we could either immediately reduce everyone’s balance by 50% or trade back the difference through our own gains from trading to top the fund up. Obviously we choose the later.
We did in fact manage to successfully get the fund up to around 70-75% liquidity by putting our own money into the account from the trading returns…..and in hindsight it was here that we should have taken the measures that we now have no choice but to take. We did not however foresee the huge amount of withdrawals that would occur in the following months which have reduced us again to around 30% liquidity.
This is not a situation that can continue and to ensure that the fund remains liquid and here for the long term, we must take the following steps. These measures are probably not going to be popular with some of you, however they are required.
This is what we must do effective immediately.
1) Freeze all Balances as per the September Statements for the next 3 months
2) Suspend all Withdrawals – Pending and Future – for the next 3 months
3) Return all deposits made this month to their account of origin.
We are truly sorry if this does impact on you particularly if you have requested a withdraw in October, as the last thing that we wanted to do was cause people hardship. However we must do this for the long term stability of the fund for the coming years.
Many of you have already said to me that this is a necessary course of action and have understood the reasons for doing it. At the end of these three months we will be able to re-evaluate where we are again and look to move forward.
I would like to emphasize that if we do not take action now, then the entire fund could be in jeopardy of liquidizing over the course of a few months.
We are very truly sorry that we must do this, and are aware that this will tarnish our otherwise good reputation. The only good thing that we can say about this situation is that the trading has been good and we are not going anywhere, we have a substantial client base so we will get through this……we just wished we had jumped on it a little sooner than now!!
We are both very upset about having to do this, and aware that many of you will be disappointed in us getting to this position. I would like to thank many of you who are already aware of this and the understanding that you have shown.
This is costing us both personally a great deal of money as we have been depositing our own personal funds and trading commissions into the account to get the liquidity to a reasonable level, only for it to get back to this situation again. We however will continue to do this until this problem is resolved to the very best of our ability and use the coming months to get us back on track and moving forward.
In the years to come, this will just be a bump on the road, but it is one that we must cross now. After the 3 months have passed we will see where we are, until then Ken will continue to trade and we will be putting our own trading funds back into the fund to bolster it up.
I am sorry that I don’t have better news, and I am sorry if you have a pending withdrawal made this month.
Moving forward we had always planned to separate the Pool Account from Northsea more directly so that we could become FSA compliant and have already made investment into doing this. Over these three months we will further this goal so that the future will be far better for all and will keep you updated on the progress.
Yours,
Paul and Ken
Hello Everyone,
What I am about to say I something that I had hoped we would avoid, however circumstances have dictated that we must take action now, and that action is not going to be popular for some of you.
I will start at the beginning, many of you may remember way back when we first started we were using ACM in Switzerland as the broker for our Pool Account, and then switched over to FXCM in February so we could run the Managed Accounts.
The problem started when we took our money out of ACM, because of their strict Anti Money Laundering Regulations the money had to be returned to the account which was on file held with them. The account in question at that time was our old Danish Corporate Account. The money withdrew from ACM without a problem, however as soon as it hit the Danish Account, the Danish Financial Authorities were all over it.
Ken was called in by the Ministry of Finance to prove what this money was, which we promptly did. However this did not satisfy them and they refused to release the money in the account to us for onward transportation. After taking legal advice it was clear that we were not going to be getting this money back and the Ministry of Finance went so far as to say that they are keeping this money so that they would not charge Kenneth with breaching Financial Law in Denmark for the handling of other people’s money. In short we had no option but to accept their token offer and move forward.
After this and following the deposit of all the money that was at the time held in E-gold and the Cyprus Bank Account we were at a position of being at 50% liquidity.
We had two options at this point, we could either immediately reduce everyone’s balance by 50% or trade back the difference through our own gains from trading to top the fund up. Obviously we choose the later.
We did in fact manage to successfully get the fund up to around 70-75% liquidity by putting our own money into the account from the trading returns…..and in hindsight it was here that we should have taken the measures that we now have no choice but to take. We did not however foresee the huge amount of withdrawals that would occur in the following months which have reduced us again to around 30% liquidity.
This is not a situation that can continue and to ensure that the fund remains liquid and here for the long term, we must take the following steps. These measures are probably not going to be popular with some of you, however they are required.
This is what we must do effective immediately.
1) Freeze all Balances as per the September Statements for the next 3 months
2) Suspend all Withdrawals – Pending and Future – for the next 3 months
3) Return all deposits made this month to their account of origin.
We are truly sorry if this does impact on you particularly if you have requested a withdraw in October, as the last thing that we wanted to do was cause people hardship. However we must do this for the long term stability of the fund for the coming years.
Many of you have already said to me that this is a necessary course of action and have understood the reasons for doing it. At the end of these three months we will be able to re-evaluate where we are again and look to move forward.
I would like to emphasize that if we do not take action now, then the entire fund could be in jeopardy of liquidizing over the course of a few months.
We are very truly sorry that we must do this, and are aware that this will tarnish our otherwise good reputation. The only good thing that we can say about this situation is that the trading has been good and we are not going anywhere, we have a substantial client base so we will get through this……we just wished we had jumped on it a little sooner than now!!
We are both very upset about having to do this, and aware that many of you will be disappointed in us getting to this position. I would like to thank many of you who are already aware of this and the understanding that you have shown.
This is costing us both personally a great deal of money as we have been depositing our own personal funds and trading commissions into the account to get the liquidity to a reasonable level, only for it to get back to this situation again. We however will continue to do this until this problem is resolved to the very best of our ability and use the coming months to get us back on track and moving forward.
In the years to come, this will just be a bump on the road, but it is one that we must cross now. After the 3 months have passed we will see where we are, until then Ken will continue to trade and we will be putting our own trading funds back into the fund to bolster it up.
I am sorry that I don’t have better news, and I am sorry if you have a pending withdrawal made this month.
Moving forward we had always planned to separate the Pool Account from Northsea more directly so that we could become FSA compliant and have already made investment into doing this. Over these three months we will further this goal so that the future will be far better for all and will keep you updated on the progress.
Yours,
Paul and Ken
Thursday, October 05, 2006
Important News From Udachu Admin
Good Morning Dear,
We wanted to come out with a letter prior to posting the returns for funds so that everyone has a firm understanding of what the happenings are with these two very separate funds. Udachu Invest is a fund that uses several traders in order to diversify and lower risk. The Silver Gate Forex Hedging Fund is a single fund under the management of the Silver Gate Investment Group Board of directors which uses a single trader with a hedge system for trading that has proven to be very reliable. Many of you are new with us and have not had the time to see us grow and become the secure group of business investors as we have. Those that know us understand that there are on the off occasion a glitch that we have to deal with in the day to day course of business. It is unfortunate that this is the case at this time. There has been no trading errors or draw downs.
We wanted to come out with a letter prior to posting the returns for funds so that everyone has a firm understanding of what the happenings are with these two very separate funds. Udachu Invest is a fund that uses several traders in order to diversify and lower risk. The Silver Gate Forex Hedging Fund is a single fund under the management of the Silver Gate Investment Group Board of directors which uses a single trader with a hedge system for trading that has proven to be very reliable. Many of you are new with us and have not had the time to see us grow and become the secure group of business investors as we have. Those that know us understand that there are on the off occasion a glitch that we have to deal with in the day to day course of business. It is unfortunate that this is the case at this time. There has been no trading errors or draw downs.
Tuesday, October 03, 2006
BASIC RULES TO FOLLOW
Never invest more than you can afford to lose.
Diversify, Diversify, Diversify.
Keep a diversified investment portfolio at all times. Spread out your seed money among several online investment programs, and as you start to build some profit, it is also advisable that you diversify your areas of investment; in this way, if one program stops paying, you still have money coming from several other programs, and you cushion yourself from the fluctuations in the markets.
Don’t allow greed to blind you. Withdraw your initial investment as soon as you make a profit.
Re-invest only your profit.
Have appropriate financial tools in place to be able to move and protect your money.
Don’t participate in programs received from unknown people, especially in SPAM e-mail.
Avoid programs that are on free hosting services.
Avoid programs that provide an unrealistic return.
Constantly improve your knowledge. Forums, such as HYIPDiscussion, are a good place to meet serious and experienced HYIP investors from whom you can learn a lot. In fact, the HYIP Discussion forum has been my training ground.
Make it a habit to visit several HYIP forums daily- several times a day if you have the time. - Read everything as you would read the daily newspaper, ask questions, and use the PM function to ask for help and advice from experienced members. Making money online is possible, but as with everything worth pusrsuing in life, you need to educate yourself about it.
If you want to be successful in this field, it's crucial that you stay up-to-date with everything that is going on in the industry, and not only in the programs that you're invested in. Whether it's downtime affecting one of your programs, server upgrade, or the administrators' responsiveness to members' queries. You need to be aware of new trends, and most of all, it's important that you view everything with objectivity. Emotional attachment to any program is a sure way to be on the losing end.
Diversify, Diversify, Diversify.
Keep a diversified investment portfolio at all times. Spread out your seed money among several online investment programs, and as you start to build some profit, it is also advisable that you diversify your areas of investment; in this way, if one program stops paying, you still have money coming from several other programs, and you cushion yourself from the fluctuations in the markets.
Don’t allow greed to blind you. Withdraw your initial investment as soon as you make a profit.
Re-invest only your profit.
Have appropriate financial tools in place to be able to move and protect your money.
Don’t participate in programs received from unknown people, especially in SPAM e-mail.
Avoid programs that are on free hosting services.
Avoid programs that provide an unrealistic return.
Constantly improve your knowledge. Forums, such as HYIPDiscussion, are a good place to meet serious and experienced HYIP investors from whom you can learn a lot. In fact, the HYIP Discussion forum has been my training ground.
Make it a habit to visit several HYIP forums daily- several times a day if you have the time. - Read everything as you would read the daily newspaper, ask questions, and use the PM function to ask for help and advice from experienced members. Making money online is possible, but as with everything worth pusrsuing in life, you need to educate yourself about it.
If you want to be successful in this field, it's crucial that you stay up-to-date with everything that is going on in the industry, and not only in the programs that you're invested in. Whether it's downtime affecting one of your programs, server upgrade, or the administrators' responsiveness to members' queries. You need to be aware of new trends, and most of all, it's important that you view everything with objectivity. Emotional attachment to any program is a sure way to be on the losing end.
Infinite Lotto Club (ILC)
Despite the name, Infinite Lotto is not a lottery. Essentially, this is an Investment Fund where the profits are distributed by chance as prizes.
The Principals of InfiniteLottto have seeded the Fund with $50,000 of their own money, and excluded themselves from any prizes to ensure that the Program gets off to a good start.
Unlike a normal prize draw, you don't lose your money if you don't win. Even more unusual, you can sell your InfiniteLottto tickets back to ILC. Once you buy your tickets they will be in the Draw to win big Cash Prizes, each and every month. In the event that you don't want to play anymore, then you can simply sell your tickets back to InfiniteLotto, whenever you please.
If you introduce someone who wins a prize, you will also receive a prize, equal to 10% of that person's win. For example, if you introduce someone who wins a $50,000 prize, then you will win $5,000 as well.
InfiniteLottto is one of the funds in FeederFund, but since the minimum spend is $100, why not go in on your own
The Principals of InfiniteLottto have seeded the Fund with $50,000 of their own money, and excluded themselves from any prizes to ensure that the Program gets off to a good start.
Unlike a normal prize draw, you don't lose your money if you don't win. Even more unusual, you can sell your InfiniteLottto tickets back to ILC. Once you buy your tickets they will be in the Draw to win big Cash Prizes, each and every month. In the event that you don't want to play anymore, then you can simply sell your tickets back to InfiniteLotto, whenever you please.
If you introduce someone who wins a prize, you will also receive a prize, equal to 10% of that person's win. For example, if you introduce someone who wins a $50,000 prize, then you will win $5,000 as well.
InfiniteLottto is one of the funds in FeederFund, but since the minimum spend is $100, why not go in on your own
Sunday, October 01, 2006
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