Panamoney.net Review

Scam!
2.56 · 30 REVIEWS
Updated: Aug 12, 2019 ·  · Is this your company?
Panamoney.net

This is another Panama based HYIP type company. The FPA recommends against placing money with HYIPs.

The company seems to have disappeared.

SCAM CONFIRMATION: 2010-06-01: The FPA Scam Investigations Committee has confirmed a scam complaint against this company. Panamoney.net is hereby blacklisted by the Forex Peace Army.

 

Website is down.  One less HYIP scam on the web.  This one lasted longer than most, but that only made it easier for people to believe that HYIPS can be real and lose all their money when it crashed.

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Scam!
2.56 · 30 REVIEWS
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Traders Reviews

angela Villanueva,
CA,
Apr 11, 2010,
Guest

In June 2009 I start my investment with them. Excellente. Giving this company 5 stars.. until March 31,2010 I was banned to log in and all of sudden my balance and Wire transfer order for my initial deposit back in Ju ne 2009 is vanished... some early withdrawals and investments moves THAT I NEVER NEVER MADE appeared and all the balance is wiped out. On April 8th I wrote a letter to Panamoney, attaching documents (Bank Statements from both :Bank and Strict Pay ) where it shows that money never was withdrawn as they affirm : EARLY FUNDS WITHDRAWN .Where this funds went to?

I am awaiting for a response. I hope this 5 Star company retrieve my balance and Investment as it was on March 24t, so I can continue enjoying the benefits with them. I already included profits from this investment in my tax 2009 and I wouldn't like to loose my already written profit because Uncle Sam wont'n give me my money back if Panamoney decides not to solve this problem.

I agree, the best way to withdraw is via BANK WIRE TRASNFER. , other sources.. a mess

2010-02-28 5 Stars Today, February 28th/2010 still I am benefiting from Panamoney Investment. My initial investment already dobule and more., and I was able to withdraw the initial investment with NOT PROBLEM AT ALL.
What I like from Panamoney is that EVERY DAY I am able to withdraw the profits earned from the investment and move tho my bank with not problem at all.... other other Forex companies do not offer the same. I DO ASSUME PANAMONEY is really trading forex. otherwise how come SO MANY people are able to withdraw so much money with not problem
I hope this company be around for MANY YEARS more to come.

2009-09-28 5 Stars I must come to write again in favor of Panamoney.net. So far I am receiving the profits as they promised. If they are a HYPE I don't understand how a company can come up with a daily money withdraws from customers if they would not be trading real forex and making profits. I must mention, at the beginning I was very afraid and even after I investd with NOVALEX FINANCE AND FROM ONE DAY TO NOTHER this NOVALEX dissapear from the map. Panamoney is registered with Labor department and other goverment offices as a requirement to operate in the forex market. NOVALEX also showed a registration.. and it happens. My investment with them 14K and running perfectly so far.

2009-07-05 5 stars money to this company and I am receiving profits every trading day, with no problem.

Person who referred me this company is with Panamoney.net since November and also receiving his profits.

I was able to choose the pair to be traded with my funds, and so far SO GOOD
 
James,
London,
Jul 18, 2010,
Guest

Of course it was a scam. If it too good to be true it is

All HYIPs are scams I'm afraid...sorry

I was there too a few years back wit Foreign Fund, Pips etc and lost thousands.
 
M. Dunmire,
PA USA,
Nov 3, 2010,
Guest

We lost big money with this panamoney scam, my family also invested in this. I want this people in jail and get back our hard earned capital.
 
PeteFX,
Germany,
Jan 29, 2010,
Guest

All necessary opinion has been given in the statements below.

Just to point out once again:
They
 
Decko,
Switzerland,
Jun 1, 2010,
Guest

Panamoney has this account which can be followed to find the scammers behind:

Beneficiary me: PanaMoney Technologies Inc
Beneficiary Address: 50th Street, Global Plaza Tower, 19th Floor, Suite H, Panama City, Panama
Beneficiary Account Number or IBAN: CY32003001790000017932184388 (FOR USD)
Bank me: Marfin Popular Bank Public Co. Ltd.
Bank Address: Limassol International Business Centre (179), 205 Makarios III Avenue, Victory House, CY-3030 Limassol, P.O.Box 51139, CY-3501 Limassol, Cyprus
SWIFT/BIC: LIKICY2N120
Amount: 10100 USD
Payment Details: Payment for obligations under agreement #47267 of 02.09.10, Invoice ID 205325 of 03.08.10
 
Angela Villanueva,
California,
Apr 17, 2010,
Guest

My balance is vanished from one day to another and Panamoney answer is that EARLY WITHDRAWN penalty is irreversible. Here is the letter I sent to Panamoney, after too many tries in solving this problem :so I give up. this is my last letter

SECURITY STEPS request.
- Closed
April 14/2010
TO : PANAMONEY.NET
MANAGEMENTE DEPARTMENT.
REF: SITE SECURITY ALERT REQUEST.
First, let me say thank you for the time being that I was able to enjoy the benefits from your company, in the forex market. It really , really had helped me in this recession in USA., still this investment was helping me but now with this BAD NEWS THAT SOMBODY MADE AN EARLY WITHDRAWN without being requested by myself, and in prevention THAT IT CAN HAPPEN AGAIN, to all my referees, and people referred by them as well, I do GREATLY APPRECIATE FROM YOUR COMP[ANY to work more in YOUR SECURITY ISSUES , in order to AVOID INVESTORS TO BE RIPPE OFF OF their investments.

PERSONALLY, I can tell you that I NEVER, NEVER ORDERED AN EARLY WITHDRAWN, and I repeat, in order to avoid this SITUATION TO HAPPEN AGAIN,IT IS IN YOUR HANDS TO AVOID THIS KIND OF INCIDENTS REPEAT AGAIN, HOW ? before accepting this withdraws request, PLEASE LET INVESTORS KNOW ABOUT THIS POSSIBLE FRAUDULENT MOVES, sending e-mails TROUGHT THE Registered e-mail addresses You keep in your files., and on those email notifications request a CONFIRMATION FOR THOSE POSSIBLE FRAUDULENT MOVES., so You do have proofs as well as Investors. In my situation, it is your WORD AGAINST MINE, and I have not way to proved it, but if and E-MAIL NOTIFICATION FROM YOUR COMPANY WOULD HAVE BEEN SENT, this sort of FRAUDULENT ACTION never have took place.

I GET this e-mails from my bank at all the time., and I never, never have had any problem like this one caused in your company.

I hope, that this situation WON'T BE REPEATED AGAIN with any one of my referred, I was so happy with the investment in your company that TRYING TO HELP PEOPLE IN NEED, I did ensure that Investing in your company would be the BEST., and if the final results are going to be the same like my account situation, I WILL FEEL SO GUILTY, and ASHAMED to have had SUCH A HIGH FAITH IN YOUR COMPANY and make all these people in need to be rip off, because my ADVICE , and since all of they KNOW me as a VERY HONEST PERSON, they did believe me and that is why they decided to invest their small savings money in your company.

Please, help ALL THE INVESTORS in your company, implementing new Security Steps in order to avoid this kind of financial disasters .

I hope to hear from you, regardless of it, and I will post it in FOREX PEACE ARMY, since many people read this WEB SITE.

THAN YOU SO MUCH.

Angela Villanueva
14 Apr 2010 23:24:53
Thank you for your information. Your ideas have been forwarded to our management for consideration.
 
Stephan,
South Africa,
Nov 17, 2010,
Guest

There has to be a way to find these criminals and make them pay for stealing from good honest, hard working people. If anybody knows of a way to find these people or file a lawsuit against them, let me know.
 
ali elhassan,
lebanon ,
May 17, 2010,
Guest

Good bye panamoney, scammer
 
Roger,
Georgia,
Mar 25, 2010,
Guest

I invested nearly $17,000.00 in Panamoney January 2009.
Up until this past Tuesday (3/24/10) I had a balance of more than $160,000.00. On Monday March 31st I was to be able to withdraw $23,000.00.

This past Sunday (3/22/10) I sent them the following email:

"I just wanted you to know that because of your successful company, I hope to leave end of 2010 for Africa to work with HIV individuals and to largely support myself and my wife with earnings from Panamoney."

On Tuesday evening (3/24/10) immediately after I had re-invested that days profits ($1,300.00), my account vanished in front of my eyes as Early Withdrawals were initiated in all my positions leaving me with NEGATIVE balance of $6,700.00.

I could see from the IP log that someone else had accessed my account and from the "ticket" section it appeared that whoever they were had already sent in a 'ticket' validating the Early Withdrawal request. That email had my "what is your childhood hero?' answer as well as a diffent LR account number.

I immediately put in tickets (its was 8 PM EDT) and sent an email to the company. Here is their last response.

Dear Roger,

You are contacting after the early withdrawal was processed, and this transaction is irreversible. See Terms of Service for reference:
12.4. The Client shall independently monitor the transactions made through the account and inform the Company of any discrepancies or unlawful access. - We expect the clients to inform us right away (that is why we have the Access History page for where you can see all details of who and when accesses and what changes have been made), but not after the irreversible transaction was made, as: 11.3. ... The transactions within the client's account are irreversible.
Please, also note:
13.1. The Company shall not be responsible for ... or any unauthorized activity in the client's account.

--
Sincerely yours,


Nancy Hyman,
Customer Support,
PanaMoney Technologies, Inc. mailto:support@panamoney.net


Wednesday, March 24, 2010, 12:55:00 PM, you wrote:

> I've already notified you that last evening that my account was hacked -
> you have the IP address - and someone initiated early withdrawals in all
> my positions.
> As you can tell from your records I very rarely access my account from a
> computer other than my home computer or from my office computer.

> Can this damaging attack be repaired?
> What steps should I take for the future to prevent this from reoccurring?

> Roger X. XXXXXXXX

On Wednesday morning the following occurred:
1 Unable to contact via phone
2. Unable to engage by Live Chat
3. Unable to access account
4. Unable to contact via email.

In retrospect, I do not believe I was hacked. I access from home and a security scan revealed no viruses. I've been a loyal customer and the money didn't go anywhere. I had proof of access within seconds by another party. Who in their right mind would re-invest $1,300 and seconds later trash a $160K account? Company was not the least bit interested in speaking to me.

Decide for yourself whether or not this is a SCAM

2009-12-15 5 Stars I invested $16,000 with them in late Jan 2009.
Took back $15,000 in October. I could have taken more, but this compounding is contagious. Presently I have $96,000 balance.
My son invested $2,000 and has withdrawn $2,500. When I request a withdrawal they process it and its in my bank account in 72 hours. I'm as cynical as they come, but I plan on retiring on June 2010 with them when I'll have a balance of over $300,000 and a weekly income of $12,000
 
Decko,
Zurich,
Apr 30, 2010,
Guest

WARNING Panamoney.net is SCAM, prooved not paying since 1 Apr 2010! Maybe just small amounts to fraud the people.