MoneyMakerGroup Ponzi Forum ‘Temporarily’ Closes ‘JustBeenPaid’ Thread After Bickering Between Former Club Asteria Pitchman And Pitchman For ‘New’ Program Trading On JustBeenPaid’s Name
We’ve mentioned it before — and we’ll mention it again. In July 2010, the Financial Industry Regulatory Authority (FINRA) described the HYIP sphere as a “bizarre substratum of the Internet.”
It was as good a description as any, and here is yet another case in point:
The MoneyMakerGroup Ponzi forum said today that it “temporarily” closed its thread for the “JustBeenPaid” Ponzi scheme owing to bickering between “10BucksUp” and “lolalola.” JustBeenPaid, which is trading on the names of Warren Buffett and Oprah Winfrey, makes users affirm they are not government spies and purportedly began a transition in August to “offshore” servers. Members have been grumbling for weeks.
“10BucksUp” rose to Ponzi forum prominence earlier this year through his efforts to promote the Club Asteria HYIP, which is trading on the names of the World Bank and the American Red Cross. “10BucksUp” also promoted the JustBeenPaid HYIP while discouraging members from filing chargebacks with AlertPay for the good of all JustBeenPaid investors.
“lolalola” now is hawking something called JSSTRIPLER2 or T2, which apparently is trading on the name of JustBeenPaid’s purported JSS Tripler arm.
Although “10BucksUp” insists the purported new program is merely a “copycat” of the JustBeenPaid program, “lolalola” claims that, “[F]rom what I understand from the Admin is they did not trademark the brand or do they hold a copyright on the name… so he is free to use it.”
In essence, two fraud programs now appear to be trading on the same name — but both “10BucksUp” and “lolalola” appear to be more concerned about clashing with each other than whether the schemes have (or are) stealing cash on a grand scale.
Or something like that . . .
“lolalola” is simultaneously promoting something called Zeek Rewards.
“10BucksUp” recently has promoted Club Asteria, JustBeenPaid, Ad2Million and Cherry Shares. All of the programs are in a state of decay or outright disappearance. Cherry Shares is cited in litigation in Canada, and Club Asteria is cited in litigation in Italy.
MoneyMakerGroup is listed in U.S. federal court filings as a place from which Ponzi schemes are promoted. So is TalkGold, another Ponzi forum.
Quick note: Today is Halloween, which only adds to the bizarre nature of the developments above.
Patrick
Some info from Ken Russo:
There’s more drivel: “Multiple income streams and outside sources of revenue.” Payment options are the usual ponzi friendly suspects.
Apparently Ken’s sponsor in this obvious ponzi scheme is “David Reid”
A response to a “question”:
Ken Russo promoting jsstripler2 – run away now.
It just blows the mind, Tony.
Patrick
“David Reid” is just as bad if not worse than Ken “The Scam Caller” Russo. There’s an interesting thread at WorldLawDirect dedicated to David, but this may be of interest here:
http://www.moneymakergroup.com/Net-Global-Inetglobal-t329940.html
[…] was almost impossibly bizarre from the moment in came out of the gate. The “program” apparently believed it prudent to adopt the name of an existing program in the fraud stable of JustBeenPaid: JSS Tripler. […]
If you don’t mind an update from yet another unknown quantity [;-)], I’ve been following a number of “internet marketing” operations for over a year now, with a view to steering the unwary away from the more egregious frauds. The “JustBeenPaid” and “JSS-Tripler” affiliate pages are all over the ‘Net even today. One can’t get much sense of how the scheme is supposed to work unless one signs up so I did…and could not believe just how weird the whole thing is.
The information available on the Members’ Area is, to put it kindly, badly written and inconsistent. The FAQ by no means reflects the number and kind of questions newly signed-up members are asking. I can confirm this because, despite a very explicit request that my account be deleted (something one is supposed to be able to do oneself but for which no option is in the interface), I had no trouble entering the online “conference” last night.
Actually, I only stayed for about 15 minutes of what was announced as an hour-long webinar. That was quite long enough to see what was going on, I think. The speaker was incoherent when he wasn’t downright unintelligible due to a bad echo on his SIP phone. Logged-in members had the option of submitting questions with a “chat” function but these were largely ignored; most people used it instead to comment amongst themselves, often quite cynically, about the explanations they were getting; others appeared quite shocked to discover how the “system” actually works. The moderators and “inner circle” members were quite unable to maintain decorum or persuade the sceptics that the scheme is anything other than a scam or downright lunacy.
Needless to say, despite the offer of a million dollars to anyone who demonstrates that their math makes no sense, I don’t think it’s worth trying to claim the reward: they’d never pay it anyway. However, I can provide a few specifics on the first level, promoted as JustBeenPaid. Joining requires a $10 (US) investment, though some of the affiliates will pay it for a new recruit. The interest on the $10 “positions” is 2% per day, and one is strongly encouraged to use the gains to buy more “positions,” as well as to invest one’s own money–as much as one can–in advancing to the higher levels (JSS Tripler and others). The essential point to grasp, which is not always clear to new investors, is that your “positions” (investments in the scheme) expire periodically, at which point you’d need to invest more. Quite a bit of indignation was expressed last night at an announcement that people’s “positions” would be expiring on February 14th…apparently even if not due to expire then.
As for the recruiting of new members, though the promise is that one does not have to recruit others, pressure to do so was quite high. When someone raised the question of what would happen when no new recruits could be found to invest, it was stated with some asperity that this could never happen since 350,000 new humans are born every day…
You can do the math as well as I can, I’m sure. Both the written information for members and the speaker last night take the view that it will all make sense if only you “get your brain right” but mine had had enough at that point and I left the “conference” to disable my account as much as possible. For all the things that don’t work on their website, they did e-mail me a security warning that somebody tried to change my e-mail address to “joe@[admindeleted]” so perhaps I haven’t heard the last of them.
(P.S. I did warn my “sponsor” about the scam beforehand; after all, she was kind enough to pay my way in, without knowing what I was up to.)
[…] Tripler 2 (T2), which is trading on the name of an obvious fraud scheme known as JSS Tripler, is here. JSS Tripler is part of a larger fraud scheme known as JustBeenPaid, which was pushed by members of […]
Actually, I have been a member of JBP (JustBeenPaid) for nearly 12 mnth’s and I can tell you it is NO PONZI SCHEME, Frederick Mann, owner and CEO of JBP has been had by “Ponzi’s” himself while trying to earn a living online (like many of us have) so himself came up with the mathematical formula which makes JBP work indefinately, a claim NO “Ponzi” scheme can make. The definition of a “Ponzi” scheme is to take new money to pay old investors to the point where outgoing payments cannot be sustained then “run with the cash”. Frederick has devised a way to not have to “run with the cash” but instead “restart” the program afresh keeping it alive indefinately therefore it does not fit into the “Ponzi” category. I can also say that after being led up the garden path for over 10 yr’s trying to earn online, JBP is the FIRST program I ever got paid a cent from, more than just cent’s too, I have now earned thousands in JBP and will continue to do so for a very long time.
Has Frederick shown you the books, bank and processor statements and audited/certified financials, Gus?
Also, did you affirm as a JBP member that you weren’t a government spy or media lackey? If you have a downline, did your recruits make the same affirmation?
Total B.S. Andy Bowdoin also had a “restart” explanation. At the same time, he explained why his 1-percent-a-day operation at ASD wasn’t a Ponzi. He, too, had a purportedly brilliant mathematical explanation, and an attorney also chimed in.
The Feds seized more than $80 million, filed forfeiture complaints — and ultimately arrested Bowdoin for wire fraud, securities fraud and selling unregistered securities. ASD’s advertised return rate, by the way, was only HALF of JBP’s advertised return rate.
Along those lines, JBP’s annualized return rate of 730 percent dwarfs that of Bernard Madoff, who generally held steady between 10 and 15 percent annually. You perhaps heard that Madoff is doing 150 years and that Bowdoin potentially faces 125 years?
Madoff and Bowdoin also “paid” — until they didn’t, of course.
Given the fact that JBP is promoted on the Ponzi boards, there can be no doubt that it is in receipt of tainted proceeds, which means you are in receipt of tainted proceeds.
It’s true that JBP could last a while; Madoff lasted for decades, and Bowdoin had about 18 months under his belt. Frederick Mann once advertised that he promoted ASD and pocketed $6,000 before the seizure. That means he’s in possession of tainted proceeds.
What’s your theory on why he wants people to affirm they aren’t government spies and media lackeys, Gus? And why is he relying on “offshore” processors while targeting U.S. investors — all while using U.S. figures such as Warren Buffet and Oprah Winfrey in his deceptive promos?
And why is CONSOB, the Italian securities regulator, investigating JBP promoters? Will Frederick assist them in their defense — or just let them hang?
If your downline sues you, will Frederick assist you in your defense — or just let you hang?
Good luck trying to explain to a judge why you agreed to affirm you were neither a government spy nor a media lackey — you know, in the wake of the Legisi prosecution and all the craziness that has surrounded the ASD case, including the false liens filed against public officials involved in the prosecution.
Patrick
Wanna bet ??
Just the use of the term ‘restart’ means it had to stop and proves it’s not indefinite. Not that real math wouldn’t also prove it. You do know that ‘restart’ means start again don’t you?