Thread: Banners Broker HYIP ponzi scam

Originally Posted by noname999

'Cool to have now the Traffic Packs automatically charged every month smile.gif'

Just posted on MMG. This muppet is actually happy that they are automatically taking more money from him. There is no hope for someone like that.

Then another posts this:

Excellent project. I want to enter, but do not have Liberty Reserve. Tell me, will there be a future in this system? Thanks in advance

First he describes the scam as an excellent project but then, in the same breath, asks if it has a future!!

-Sign up straight away. Make sure to put in every penny you have. Remortgage the house as well. You know it makes sense!

about the traffic, that is not ture, it is really a good thing that they made.
1. you can now cancel those packs.
2. you don't have to guess what is the time zone that banners is working with and buy it at that time (if you buy it too early it will count as if you got two packs and if you get it late then you got a new one but didn't pay for the old one)

any important stuff about banners broker, I do not have any time to go on talkingbb or go here a lot. did anyone get a talk to somone that can actually make the proccess of closing down banners quicker?

Greed is a really powerful emotion. If you've got it bad, you do really stupid things

Some people will pay good money to send their ID to dodgy ponzi schemes on the other side of the world.

image.jpg



This guy has been waiting 5 Months for his wife's BB card:

what a mug.JPG


.

Originally Posted by JordanBright

about the traffic, that is not ture, it is really a good thing that they made.
1. you can now cancel those packs.
2. you don't have to guess what is the time zone that banners is working with and buy it at that time (if you buy it too early it will count as if you got two packs and if you get it late then you got a new one but didn't pay for the old one)

any important stuff about banners broker, I do not have any time to go on talkingbb or go here a lot. did anyone get a talk to somone that can actually make the proccess of closing down banners quicker?

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

Originally Posted by AshKen1

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

Yes, I was under the impression there are severe penalties if you don't keep up your TP purchases?

Originally Posted by noname999

Yes, I was under the impression there are severe penalties if you don't keep up your TP purchases?

Not too severe.
You just won't be allowed to buy a traffic pack for another 6 months.

Jason

Originally Posted by Poyol

Not too severe.
You just won't be allowed to buy a traffic pack for another 6 months.

Jason

And what is the thinking behind this penalty. Not the real thinking but rather the one BB claim?

Originally Posted by noname999

And what is the thinking behind this penalty. Not the real thinking but rather the one BB claim?

There isn't any; I don't think!

Originally Posted by Poyol

There isn't any; I don't think!

The BB thinking is that when you buy traffic you are given 50,000 bonus hits as well. That is what they take and claw back if you cancel a traffic pack.

Effectively they are forcing you to buy the monthly committment. It reduces the profitability of the 'business' and encourages you to refer people into the scheme.

Someone has PM'ed me and asked me to provide my tax/ accounting discussion as if Banners Broker were a real business and why affiliates should be thinking of this. I have provided a couple of excellent examples on talking BS however, they are no consigned to be hidden away from the general public!!

So, here goes, I will try again.

In the UK tax is payable on profits of a business. Accounts are prepared using UK GAAP (Generally Accepting Accounting Principles). This most notably includes something called the accruals basis, which effectively looks at the timing of income and expenses.

The reason this is important is that most affiliates without accountants are looking at the basis on which they pay as being the money they withdraw, less the money they pay in as being the basis for profit. This simply not true.

Imagine a newagent shop buying and selling chocolate bars -

- initially purchases 100 bars at £1 each, therefore a purchase cost of £100. the intention is to sell them for £2 each.
- During the period they sell 60 bars at £2 each
- For ever 1 they second one they sell they buy another bar, therefore 30 bars at £1 each.

On a straightforward cash basis they have

Sales of £120
Purchases of £130

Effectively therefore showing a loss of £10 and you have minus £10 in your bank account.

However - the key issue here is stock. HMRC would expect you to include a valuation of stock. REgardles of being unsold it is an asset of the business and therefore an increase to you profit. Therefore your p&l would look like

Sales £120
less - Opening stock £nil
Purchase (£130)
Plus Closing stock £70 (70 bars, valued at lower of cost or net realisable (sellable) value)

Profit - £60

The £60 is what you pay your tax on.


Clearly there are other overheads and costs involved but this is the basic crux of the issue - stock. Every panel that is purchased should be valued at its cost, whether it has capped or not.

If you substitute the above:

Sales = capped panels
Purchases = Panel purchases


Just because you do not have the cash in your pocket does not make it taxable.

Several accountants and also affiliates that have been in business have posted these opinions and are in agreement with my thoughts. It is just the supposed experts that seem to dismiss this. To be honest Soozi and Jamie never post on this issue, probably because they know this would be an instant turn off!

One food for comfort though, is that if the 'business' collapsed or was exposed as a fraud you can write of those costs and losses in your next tax return.

Originally Posted by noname999

And what is the thinking behind this penalty. Not the real thinking but rather the one BB claim?

There isn't any. It's not a real 'penalty'. It's just a scare tactic. They can't afford anyone not buying them.

Originally Posted by AshKen1

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

yes it was like that before the change to automatic traffic packs, before that you had to buy them yourself every month at the same time for ever, but now (if what they say is true) you can pay traffic pack for one time (not every month) or cancel some of your traffic packs if you don't need them.

that is what THEY wrote about the change in traffic packs once, I don't know if it's true (like any of the stuff they say) but that is what I know.

Originally Posted by AshKen1

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

Mate showed me the new option called Subscription Manager. It lists all the traffic things purchased to make the panels work, like how many and dates bought. At the bottom is option to cancel subscription. No option to choose which one to cancel - cancels everything. Wonder what the logic is in putting that option in.

I wonder if anyone is brave enough to try pushing that button to see what happens? There is no guidance about this at all, but then from what I've seen, there has never been any comprehensive help.