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Posted on 9:11 AM by Admin
Genius Funds Scam
This is definitely the hardest news for me, and probably all of the other investors into this hyip program. I wrote in my hyip review that this program simply was the best, because they have been online for over 1 and half a year, and with expensive hosting, and verisign SSL, the best in the world. Probably because of the $25k investor in Canada led to the collapse of this program, but now, more than even I am almost confirming that Genius funds is a scam or will become one before the British Columbia hearing. Why? Well I will give my supportive statements and my opinion on Geniusfunds.
1. Genius Funds selectively paying.
In MoneyMakerGroup and Talkgold, you will see recently there has been a lot of unrest between members of unpayments, and also rumors of them closing. Also, a fellow reader posted in my shoutbox : sfl
have not been paid 17 days since request genius very poor on responding. Seems it is not just one person not getting paid, but those investors that either tried to withdraw with Bankwire, or high amounts of money. Even I had my first pending payment last night, which is over 24 hours and still not paid into my Alertpay account.
2. Websites are classifying it as Scam.
You don't believe this? Now, we all know Talkgold's reputation of being the first site for correctly putting sites in the scam list, and save various investors of so much money and emotional pain. Also, what is very surprising is when you go to Genius Fund's twitter account, you will see they are not allowing anyone to see their tweets. Even the admin at Money-news-Online.com is also stating they will move the site to SCAM if they do not pay all pending withdraws next week. With Genius Fund's new plan, how convenient you can withdraw you principal right on the day that the BC hearing is expected.!
Now, there is officially a report, by the country of Cyprus, that they are in fact a scam! Here is the official report, and I recommend you read it !
The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that the company ‘GENIUS INVESTMENTS (CYPRUS) LTD’:
Is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
It has never been authorized by the Commission.
Ιt is not a bank or a cooperative firm, established in the Republic and authorised to provide such services.
No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the abovementioned Law.
Is not regulated by the Commission and the authorisation with the number CIF 087/07, which the abovementioned company is alleged that it possesses, is fake.
Finally, the Commission informs the investors that the ‘Genius Funds’ are not also regulated by it.
Nicosia, 11 March 2010
Read my other post about the Aftermath Of Genius Funds
3. Site is always down.
As of right now, they are almost always offline, with the DDOS protection in place. How weird that only recently has this site been experiencing DDOS attacks, and never before? Remember, they are hosting with blockdos.net, one of the best sites to protect your website from these attacks! As with all websites delaing with money, it is always a worry when a site even goes down for 10 minutes, let alone for hours daily!
With all this negativity, plus the combined presence of authorities, this is a de ja vu of the 12dailypro program years ago, and in the end I am confident we will see the truth of Geniusfunds, and indeed it will be shown to the world it is a ponzi scheme. I encourage you , if the site comes back online to withdraw as much as possible, because I seriously think this site is going down, along with the hyip industry.
I will also discuss my opinions soon on the collapse of other notable programs, such as GNI and NanoMoneycorp, as these sites too were considered the examples of a legit hyip program.