Banners Broker ?

oliver_t

Hi all, i invested a considerable amount of money in banners broker 14 months ago on the back of a guarantee from a life-long friend ( no longer a friend!!! ) that i would recieve a return within the first 8 weeks???? i'm still waiting and being subjected to constant lies and stupid continous obstacles. i'm wondering has anybody had similar experiences?? is it a dead duck?? would greatly appriecate your feedback

vandriver

It was a pyramid scheme.I heard the Irish operation had closed/folded.Move on .

cml387

All the gory details

tricky D

Your money is gone.

http://www.boards.ie/search/submit/?forum=859&subforums=1&sort=newest&date_to=&date_from=&query=banner

Especially: http://www.boards.ie/vbulletin/showthread.php?t=2056789845

oliver_t

but i'm being assured my funds are coming week after week to no avail. who are the people behind this in cork?? is there any legal recourse? surely someone has to take legal consequences............

RobertKK

Yeah you give them money and this is where the brokers part of their name come from, nothing to do with investing.
They take your money and then you are broke.

Cute Hoor

From today's Examiner

Fears for investors as suspected pyramid scheme wound up
Thursday, February 27, 2014

Thousands of Irish investors have been left counting the cost after the company behind Banners Broker, a suspected online pyramid scheme, was wound up owing millions.

By Conor Ryan, Investigative Correspondent, Isle of Man
Liquidators were appointed to Banners Broker yesterday following a hearing in the Isle of Man. The scheme had attracted investment from more than 12,000 Irish people and thousands more internationally. The court agreed with an uncontested application that Banners Broker International Ltd (BBIL) should be shut down. It came five months after BBIL withdrew support for its Irish office, redirected service calls to Belize and put heavy restrictions on the withdrawals people could make from their accounts.

The court in Douglas heard the company had $6m (€4.4m) in assets but it had nobody from its Canadian operators present.

“The company is currently in limbo. It has no registered office, nobody providing secretarial services, no representative who will appear and significant assets of $6m,” said Judge David Doyle.

The judge said under the Isle of Man’s Companies Act 1931 it was just and equitable for the company to be wound up.

He appointed joint liquidators. One, from local firm Mann Benham, was put forward by Targus Investments. Targus had previously provided BBIL’s Canadian principal, Chris Smith, with nominee services for BBIL in the Isle of Man.

The second appointee was London-based Paul Appleton, of David Rubin and Partners LLP.

Mr Appleton presented the court with claims from people whose money is still locked in BBIL’s complicated internet advertising packages.

A standard letter circulated among some investors asked the Isle of Man court to appoint Mr Appleton as joint liquidator. In it individual claimants set out how much they had put in and what they were owed.

“There are genuine concerns as to the manner in which the business has been operated by others.

“A full and thorough investigation into BBIL’s affairs is, therefore, required to determine the position and explore how best to secure and recover funds for the benefit of its creditors,” the letter said.

The effect on creditors and investors will become clearer over the coming days.

Under Isle of Man law, a committee of inspection will oversee the work of the liquidators. It is expected to take up to a month to establish the extent of BBIL’s remaining assets and debts.

billycunnane

wow

martyoo

There will be a similar article on Cube7 in the next few months. There seems to be an infinite amount of dumb money in the world.

micosoft

And from today's examiner. Wonder where are the lads who promoted this scam on boards are now?

Police in Canada have claimed the masterminds of the Banners Broker advertising website, which netted 12,000 investors here, were operating a pyramid scheme which "evolved into a straight Ponzi scheme".

The Royal Canadian Mounted Police has also claimed that Christopher George Smith, Rajiv Dixit, and “others known or unknown” possessed and laundered the proceeds of crime.

The Mounties have succeeded in freezing a number of accounts in Canada containing hundreds of thousands of dollars and linked to the Banners Broker scheme.

The officer who has led the investigation, Constable Kate Judd, said in an affidavit seeking the freezing of the accounts that the “suspects will or could soon be charged with the following offences”:

-Running a pyramid scheme;

-Fraud over US$5,000;

-Possession of property obtained by crime;

-Laundering the proceeds of crime;

-Making false and misleading representations.

“It is the position of the police that the Banners Broker operation was dishonest and that said dishonesty misled many investors, causing them to part with funds that, had they known the truth about Banners Broker, they would not have parted with,” said Judd.

“It is the position of investigators that this business was a pyramid scheme that, over time, evolved into a straight Ponzi scheme in which new victims were recruited to stave off requests for withdrawals and complaints from older ones.

“Except for limited window-dressing to promote the fraudulent scheme, there was no bona fide advertising publishing operation and the investors were being misled as to the source and the nature of their profits.”

Judd said that although Banners Broker was taking in upwards of US$2m a month as early as 2012, the total paid for actual advertising to Clicksor, a legitimate advertising network, was less than US$200,000.

One account, the Banners Broker SolidTrust Pay account, was found to have been credited to the tune of US$26,038,368.06 in the course of its existence. By July of this year, however, that Banners Broker account contained just €10,646.22, £16,632.55, US$16,602.15, C$1,833, A$10,543 and NZ$586. An account in another institution was found to contain more than half a million American dollars.

The sums found in those accounts and others were successfully frozen in recent weeks.

In the last few days, Miles Benham And Paul Appleton, joint liquidators of Banners Broker International Ltd, have applied to the Canadian courts to have the BBIL receiver granted “additional investigatory authority” to look into a number of other companies identified by the Mounties “as being integral to an alleged ‘Banners Broker’ criminal enterprise in which BBIL was a central part”.

The application will be heard on October 15.

jpboard1

So hearing this scam is making a come back. Anybody hear anything?

ct5amr2ig1nfhp

Hearing what exactly? Give more details please.

jpboard1

Hugo Rough Attire wrote: »

Hearing what exactly? Give more details please.

Buddy was approached to join. Waiting to hear back about the details

golfman

Well Paul McCarthy is heading up a new scam now in DASCOIN , doing the rounds around the country doing seminars etc.

corks finest

golfman wrote: »

Well Paul McCarthy is heading up a new scam now in DASCOIN , doing the rounds around the country doing seminars etc.

Same problems,same people,knew of ppl here in cork involved,all suspect,all scamners

corks finest

golfman wrote: »

Well Paul McCarthy is heading up a new scam now in DASCOIN , doing the rounds around the country doing seminars etc.

Their website is now closed,please ppl all a scam,no it's or buts about it,it's blatant robbery,and if you're gullible enough to believe in this,or banners brokers,or any crypto currency you deserve to be robbed

jpboard1

I wonder do the same people go in with mccarthy each time?

golfman

jpboard1 wrote: »

I wonder do the same people go in with mccarthy each time?

I'd say his early adopting resellers do as they probably all make a nice bit of quick cash before it goes tits up, then they move onto the next one.

AndrewJRenko

golfman wrote: »

Well Paul McCarthy is heading up a new scam now in DASCOIN , doing the rounds around the country doing seminars etc.

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