GeniusFunds.com

Mayamba

Recruit
Messages
1
Still Good

This is my first time to experience a paying hyip. I was scamed by www.marketforexltd.org; i just wish and pray my money will increase and multiply in this case. So far so good...with me and my friends. Am still careful to only invest money i can afford to lose. Being a forex trader myself, i have learn much about greed. Genius funds.com must look for ways to maintain there integrity. We don't need you to increase the percentage of interest....just stay long....and deliver always. People now are much interested in "consistency" than "high yields" that will definitely put even a sincere company into trouble. Thanks.
 

Pharaoh

Colonel
Messages
19,722
Don't place a single cent with any HYIP. Some pay for awhile, but when they stop paying, that's it. All the money disappears. With HYIPs, you are risking your hard earned cash on a Ponzi scheme that's more likely to leave you with zero money than to pay you anything.

Read this:

http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/3959-ponzi-schemes-hyips-free-money-traps.html

Don't play games with HYIPs. Even if you make a little money, you are just enabling them to lure in more victims before they spring the trap and run off with a pile of money. All your "profits" are just taken from someone else who didn't withdraw in time.
 

D. Moser

Private
Messages
13
GeniusFunds getting into more trouble...

Linked is the information regarding why Genius Funds was shut down. I'm rather surprised this info hasn't been posted here before this (though it's possible I might have just missed it).
That URL is invalid according to the web site. However, I did just go to the web site directly and found the following information in a PDF at this URL:
http://cysec.org.cy/Downloads/English/Announcements/2010/General/Announcement 04.16.2010 regarding Genius.pdf

ANNOUNCEMENT

The Cyprus Securities and Exchange Commission at its board meeting dated 22 March 2010, decided upon the powers vested by the article 35(1)(a) of the Cyprus Securities and Exchange Law of 2009 (L73(I)/2009), to report the company Genius Investments (Cyprus) Ltd, to the Attorney General of the Republic for the following possible violations:

1. Possible violation of article 4(1) of the Law which provides for the provision of investment services, the exercise of investment activities, the operation of regulated markets (L144(I)/2007) («Investment Firms Law»), as it possibly provided or purported to provide investment services without being authorised to do so by the Commission.

2. Possible violation of the Criminal Code regarding the circulation of a falsified document that possibly stated that it possessed an operational license which was not authentic.

Nicosia, 16 April 2010
 
Thread starter Similar threads Forum Replies Date
A Forex Brokers 6
A Forex Brokers 0
A Forex Brokers 0
A Forex World 0
A Forex Brokers 0
Top