AdPayDaily, Surf With ASD Ties, May Be Disintegrating; Member Says Firm Still Encouraging Participants To Send In Money As Surf Urges Troops To Keep The Faith
A surf firm with membership and promoters’ ties to AdSurfDaily may be disintegrating — but is still encouraging participants to send in money, a member said.
“[T]he earnings/payouts nearly [stopped] but of course we were ‘encouraged’ to continue making purchases so that our earnings/payouts could continue as before,” the member said of the surf, which is known as AdPayDaily (APD).
Like AdViewGlobal (AVG), yet-another surf with ASD ties, APD has a history of at once asking for money from members and then scolding them.
The PP Blog reported in June that members of the pro-ASD Surf’s Up forum were listed as having high positions in APD.
APD’s website was registered on Nov. 18, 2008. That’s just one day before U.S. District Judge Rosemary Collyer ruled that ASD had not demonstrated it was a lawful business and not a Ponzi scheme. APD’s domain-registration date also coincides with a string of registration dates by the so-called ASD clones, including AVG, AdGateWorld and BizAdSplash — all of whose domains were registered after the seizure of ASD’s assets in August 2008 and all of which eventually went missing.
“I feel like we are being strung along to keep on paying in,” an APD member told the PP Blog.
ASD President Andy Bowdoin was arrested last week on charges of wire fraud, securities fraud and selling unregistered securities. Like Bowdoin, APD urged members to keep their faith in the enterprise.
Also like ASD, APD told members in a recent email that it was experiencing “tech issues.”
“Just a note to let everyone know that we’re still working on tech issues in with the Administrative section of our website,” APD wrote last month. “If you have continued to surf you know that the daily payouts are minimal at best and that probably won’t change until we secure the necessary funding.
“In the meantime we’re still working to resolve all issues and we are extremely hopeful that we’ll have everything in order by years end,” the company said. “We will keep you posted with our progress.”
A little bit of “Black December” perhaps ????
Always a possibility with the surfs, LRM. But I’ve been told that APD has been stringing along members for months.
Regards,
Patrick
The “stringing along” process is normally an integral part of a surf collapsing.
“Black December” comes about when members who have been using the HYIP surf as a form of saving to fund their Christmas celebrations either start requesting or demanding withdrawals and can no longer be “strung along”
This, in turn, forces the admin/owners of the HYIP to cut and run.
Legality aside, ANYONE who has money still in a HYIP/autosurf in December is stark, staring bonkers.
The pro “playas” are long gone by now and enjoying their enforced annual December/January holiday break.
Patrick:
In the FYI category a long running HYIP, CherryShares.com, seems to have finally bit the dust. The Geniuses at MMG seem to think they’ll be back but that’s doubtful.
This is the same group of mathematical illiterates who thought this was a legit investment which caused it to gain quite a bit of notoriety.
Because of that notoriety and longevity they probably sucked a lot of money out of gullible/greedy participants.
Caveat Emptor and get the calculator out.
Glad to see they have apparently crashed and burned, too bad it wasn’t sooner.
Who’s next?
ARWR
Hi ARWR,
Thanks for the note. I saw some forum reports about it, but haven’t written about it yet. As LRM or d_b might say, it looks like a “Black December” death in the HYIP/autosurf realm.
At this time last year, Genius Funds, GNI and Cash Tanker all were in their death spirals.
Regards,
Patrick