UK Journalists view

Rate this Entry
Quote Originally Posted by sascode3 View Post
I got the following reply from a UK journalist:

I looked into Banners Broker and despite testimonials worldwide from satisfied clients, the company's business model is excessively complicated, opaque and impossible to see exactly how genuine income is generated. On the face of it, it does seem to depend on attracting an ever increasing number of new customers who make their investment and pay their monthly fees. There is no actual evidence from real websites that the client advertiser/publisher is obtaining any real income for their investment. The company publishes no meaningful statistics and cannot tell the investor where their money has gone.

There is evidence from blogs and forums that Bannners Broker is not answering its clients queries, or responding to demands for payouts. However, others do seem to have been paid and appear satisfied with their investment.

This is a worldwide business with mighty ambition, even though it appears to have a very modest HQ in Ontario, Canada. It claims to have generated 6 billion advertisements, and pays $1 million in commission every day. It claims to have 2500,000 affiliates. Even if you just count the $15 monthly admin fee, and allow for 100,000 members , that means $1.5 million dollars per month. Experts in the on-line advertising industry say that Banners Broker are apparently selling their advertising impressions to their affiliates/investors at 100 times or more that real market values. The company appears to claim sales revenue of $40 million per month.

Feedjit, a well known web publisher, offers two million geotargeted, or 6 million global ad impressions for $49. The same would cost you $18,000 with Banners Broker. Crucially and most worrying, Banners broker does not disclose which websites are running the investor's impressions. It claims that this is impossible because ads are constantly switched between websites every few minutes.

The company tells investors that they can't lose money and will generate 100% returns. This, of course, is total rubbish. But they have made good use of social media to spread the word to the gullible and greedy. On the well tried and tested presumption that 'there is one born every minute', Banners Broker still attracts idiot investors who want to get rich quick without doing any work for it.

The company started in October 2010 and is based in Ontario, Canada, but banks in Belize. The CEO and sole owner is Chris Smith who alone signs the cheques; Ian Driscoll is in charge of sales; and Rajiv Dixit of head of the Canadian HQ. He was formerly involved in a scam called ICF World Homes which was shut down by the Canadian authorities leaving 900 victims of fraud. There were also accusations of money laundering. Anybody who has given their personal details to Banners Broker as an investor should be alerted to the danger of identity theft.

There is one UK national who recently joined the management team. He is David Hooker who is in charge of compliance . He seems to have popped up after the company had a convention in Ireland last year. His history is as a salesman and motivational speaker. Hooker has just issued a completely impenetrable statement on behalf of Banners Broker to counter the bad publicity of having their Indian Office in Goa raided a few days ago and closed down. The company is now facing a number of fraud charges there.

Any sensible person wouldn't touch BB with the proverbial bargepole, and the general public will not have much sympathy for those who have decided to throw their money in that particular hole. This really is a case of buyer beware.
0 Thanks, 0 Likes, 0 LMAO, 0 Dislikes, 0 Ignorant, 0 Moron

Submit "UK Journalists view" to Digg Submit "UK Journalists view" to del.icio.us Submit "UK Journalists view" to StumbleUpon Submit "UK Journalists view" to Google