Thread: Banners Broker HYIP ponzi scam

It looks like Jamie Waters is getting involved in yet another dodgy "business" (Is this PLAN D for little Jamie Waters?)
Rippln as soon as I came across this it screamed pyramid scheme to me.

Are you Rippln yet? | Jamie Waters



Probably deserves it's own thread.

I Just created a Rippln thread

Any ideas why they are targetting Ireland again?

Originally Posted by Joe_Shmoe

It looks like Jamie Waters is getting involved in yet another dodgy "business" (Is this PLAN D for little Jamie Waters?)
Rippln as soon as I came across this it screamed pyramid scheme to me.

Are you Rippln yet? | Jamie Waters

Probably deserves it's own thread.

Oz over on his excellent Behind MLM blog has an analysis of Rippln and some of those behind the scenes of this "opportunity" (and, I use the word loosely)

Originally Posted by Joe_Shmoe

It looks like Jamie Waters is getting involved in yet another dodgy "business" (Is this PLAN D for little Jamie Waters?)
Rippln as soon as I came across this it screamed pyramid scheme to me.

Are you Rippln yet? | Jamie Waters



Probably deserves it's own thread.

BB with new face...a bunch of parasites and money changing owners...it sounds like broken record

I caught this in the latest webinar update and just wanted to isolate the lie. Chris Smith said:

"The delay is not STP, it is the banking system sending money across."

This of course is in the context of payouts and is a bold-faced lie. First he blamed the processors and knew that couldn't stand. Now he blames the banks.

That is what sociopaths do. Finally, when BB falls, he will blame the victims.

Mark

Originally Posted by marsh56

I caught this in the latest webinar update and just wanted to isolate the lie. Chris Smith said:

"The delay is not STP, it is the banking system sending money across."

This of course is in the context of payouts and is a bold-faced lie. First he blamed the processors and knew that couldn't stand. Now he blames the banks.

That is what sociopaths do. Finally, when BB falls, he will blame the victims.

Mark

Re- Terry Stern, April 10

"They are made weekly to STP/Payza…the delay is on their end. The problem is that STP has limitations as to how much they will process each week.
They only push out so much….example: if their limitation is $1 Million/week, and we get $3 Million in requests, then the overflow is delayed at least 1-2 weeks before payments are issued.
Each week requests are made, so payments then get delayed further and further due to limitations."

So Terry, is/was the delay by STP or not? Any other excuses? How about: BB has run out of cash and can't recruit enough new members to pay existing ones?

Originally Posted by noname999

Any ideas why they are targetting Ireland again?

Maybe McCarthy is feeling the pressure, too much going on and he is on his own there? He has really been keeping the head down lately.

Was tempted to contact Joe Duffy again to see if he would be bothered with an update but there is too much happening with the personal insolvency stuff going on, imo , for him to take this back on again. I think we need something really tangible, not innuendo to go back with. We know that many are claiming not to have been paid but we don't know who , if any, have been paid full amount. In other words, think it would need to be big before Joe will cover it.

Originally Posted by noname999

Any ideas why they are targetting Ireland again?

Google "ireland 2013 financial crisis" and you'll quickly see why the vultures are again targeting the Irish.

Originally Posted by Ken Roklin

Re- Terry Stern, April 10

"They are made weekly to STP/Payza…the delay is on their end. The problem is that STP has limitations as to how much they will process each week.
They only push out so much….example: if their limitation is $1 Million/week, and we get $3 Million in requests, then the overflow is delayed at least 1-2 weeks before payments are issued.
Each week requests are made, so payments then get delayed further and further due to limitations."

So Terry, is/was the delay by STP or not? Any other excuses? How about: BB has run out of cash and can't recruit enough new members to pay existing ones?

Terry lied noooooooooooo, I don't believe it noooooooooooooo

Can you imagine the phonecall ?

Hello Chris,
Yes Terry
(Terry) you know how you said yesterday that it wasn't the fault of the payment processors? Well crap Chris, I said 10 days ago it was.
(Chris) didn't you read my whiteboard message in the canteen, right under the ' someone get milk ' message? I wrote, ' this week we are using excuse number 33'!
(Terry) Chris, you know I never go into the warehouse, it's too cold in there and I hate being on my own
(Chris) true Terry, true. Oh and by the way, you can stop making those stupid BB rings now, there might be a few returns

Originally Posted by littleroundman

Google "ireland 2013 financial crisis" and you'll quickly see why the vultures are again targeting the Irish.

No, can't agree with that. There are plenty other countries in just as much trouble, if not more. Brenda could be right. Maybe it is to do with McCarthy but again, this wouldn't really justify a return.

Was wondering is it more a case of the Irish authorities lagging behind other countries so the least risky venture is back to those shores. As you said earlier LRM(I think), there may be one more decent payout to spark a last big recruitment drive. One country may find themselves in receipt of payments to fuel this. Ireland with its small pop could be a candidate.

All only theories but it does seem strange to back track. Would love to know the real reason.

Meanwhile, over on the official BB FB page, we have more unhappy punters......what a surprise!

BB 20th April.jpg

Dave Hookers comment more than hints they are desperate for fresh money in the Ponzi pot.

From Fridays Scaminar

David Hooker:To all the Irish afffiliates, make sure you get everyone you can to the Ireland events with Lorenzo. The Poland event will be around 1,000 people. If you have an contacts in Ireland or Poland, please let them know about the events.

Della... which fb page is this please? Can't seem to find it...

Originally Posted by Joe_Shmoe

Dave Hookers comment more than hints they are desperate for fresh money in the Ponzi pot.

From Fridays Scaminar

David Hooker:To all the Irish afffiliates, make sure you get everyone you can to the Ireland events with Lorenzo. The Poland event will be around 1,000 people. If you have an contacts in Ireland or Poland, please let them know about the events.

It's not more recruiting they do but true mobilization.Ofcourse in this stage the scam is,they would need massive inflow of new money.It would be possible only if the need for new money would have linear trend.Unfortunately for the scam systems the need for new money has logarithmic grow what means if they want to feed 200 000 accounts,they would need right now millions of $ what would be possible only if they would make all payouts and with that recover the scam from all negativity making people more willing to invest.As they do not have amount needed for payouts,the negativity and dissatisfaction will grow and ponzi will die

Originally Posted by Char

You clearly missed the point. I gave him credit for picking apart BB but it's not a cleverly disguised ponzi. A ponzi is a ponzi - Huge returns promised for doing nothing. I'm adding another layer to the ponzi issue.

Why are seemingly intelligent people falling for these scams?

Char...no, I didn't 'miss the point'. You did. We need more people posting on here who used to be in BB but have 'seen the light'. Your post ridiculing the writer with your irelavent comment 'cleverly disguised pyamid or not' will not encourage this. THAT was my point!

Originally Posted by noname999

Any ideas why they are targetting Ireland again?

It does seem strange. Especially when there have been posts saying that they were crazy to target Ireland in the first place as some of these victims are likely to seek non-financial redress. With the current obvious failing of the ponzi it seems suicidal. Saying that Raj and Chris are not in attendance so perhaps they are hoping for a spot of trouble as this could be an excuse for their "big advertisers" pulling out and the company failing.

Whilst i am on Noname can i thank you, Poyol, Joe and the others who have been here from the start of this thread for your persistance. You all have saved some people from misery.

For what it's worth, I have recently read a blurb on a blog devoted to payment processors that more than hinted that Solid Trust Pay was not able to pay out all that they owe because, well, their accounts are just another version of numbers on a screen....can't remember where I saw it, try googling "Solid Trust Pay issues" maybe.

Over on BB "official" page on Facebook which still has not had any further official posts since 15 March (by page holder). People in India getting restless indeed!

21 April BB.jpg

Originally Posted by Dreamstealer

It does seem strange. Especially when there have been posts saying that they were crazy to target Ireland in the first place as some of these victims are likely to seek non-financial redress. With the current obvious failing of the ponzi it seems suicidal. Saying that Raj and Chris are not in attendance so perhaps they are hoping for a spot of trouble as this could be an excuse for their "big advertisers" pulling out and the company failing.

Whilst i am on Noname can i thank you, Poyol, Joe and the others who have been here from the start of this thread for your persistance. You all have saved some people from misery.

It's not the first time Ireland has been the target of a HYIP ponzi fraud

From back in 2005:

Pyramid scam promised returns of over 14,000%
11 September 2005 By Louise McBride

The promoters of an international pyramid scheme, which conned people in Co Meath out of at least 2 million, told investors they could pay off a €200,000 mortgage in two years by investing just €20,000

Investors were promised returns of more than 14,000 per cent a year. At least 500 locals in Kells and surrounding areas were caught out by the Malaysian-based People in Profit System (PIPS) pyramid scheme.

Most lost between €3,000 and €4,000, but some lost as much as €40,000. Investors were invited to lend €450 or more to PIPS for about six months.

Loans were to be repaid at a rate of 2 per cent interest a day.

At that rate, a loan of €1,000 would have earned about €21.6 million in two years. The pyramid scheme was introduced to Kells last year by a local man.

One investor, who lost €2,000, said that money from the original PIPS scheme dried up last December. To cover their losses, some investors encouraged other locals to invest in the scheme, and then pocketed the money, he said.

At least six locals pocketed between €150,000 and €200,000 said the source.

In an e-mail apparently sent from a PIPS convention in Hawaii, the man who introduced the scheme to Kells said investors could pay off their mortgages within two years by depositing 10 per cent of their outstanding mortgage balance into the scheme.

He also claimed that PIPS supported international humanitarian efforts, including a "global flying hospital". A spokeswoman for the Money Advice and Budgeting Service in Kells said that a lot of families had been caught out by the scam.

"We would definitely expect to see the repercussions of this before Christmas" she said.

Originally Posted by AshKen1

Over on BB "official" page on Facebook which still has not had any further official posts since 15 March (by page holder). People in India getting restless indeed!

21 April BB.jpg

Which facebook pages is considered to be the "official" BB facebook page?I always thought http://www.facebook.com/bannersbrokernetwork was their "official" page.

This is supposed to be the Official one..
https://www.facebook.com/bannersbroker

but for some reason BB post official stuff on BB Iceland
https://www.facebook.com/bannersbrok...upport?fref=ts

Originally Posted by Nourjan

Which facebook pages is considered to be the "official" BB facebook page?

Depends on which one is bringing in the most new money that week.

Originally Posted by littleroundman

Depends on which one is bringing in the most new money that week.

Moving target strategy probably. Apologies to any BB Facebook person who maintains a page for them that I've snubbed or not copied from recently.

Nourjan/Harrison - actually I haven't got a clue which one is the main page. I took the screen shot from the one that has the most comments underneath, which I guess means everyone in BB thinks it is the official page too. This particular one is rich with the gripes of non-paid affiliates.

Despite emptying the cache, I can't get access to MMG: probably banned again.... I do apologise for pinching two excellent posts from there. Ho hum.

Originally Posted by HARRISON

Char...no, I didn't 'miss the point'. You did. We need more people posting on here who used to be in BB but have 'seen the light'. Your post ridiculing the writer with your irelavent comment 'cleverly disguised pyamid or not' will not encourage this. THAT was my point!

I encourage all former BB to post BUT "seeing the light" as you pointed out is certainly subjective. I can see it now. Take Jamie Waters newest scam and what he might say:

"Now that BB turned out to be a scam (sorry folks I should have seen it coming but it was so cleverly disguised) but not this one - This one is the real deal. Social media is taking the internet by storm and we are tapping into a billion dollar market which is exploding. We are lucky to have an immensely successful internet entrepreneur marketer guru wiz with vast experience willing to share his expertise in growing this company for us. You're one of the lucky ones and smart enough to get in now and make big money."

I again commend former BB affiliates for posting and sharing but if they don't understand the real reason why, they are doing themselves an injustice and might fall for the next one that is cleverly disguised. Facts about these scams are necessary but IMO only play a supportive role. Ridiculous rate of return, arbitrary recruitment, and hotel meetings, etc. are the real factors here for truly seeing the light. Until people recognize that, the cycle will not be broken and scammers will come up with yet another clever ruse.

P.S. Instead of ridicule, I'd like to think of it as tough love. I've had my say.

Char...you have lost the distinction between scumbags and genuine people!