Thread: Banners Broker HYIP ponzi scam

Originally Posted by HARRISON

Attachment 8231

How did that song go? 'Every-things com-ing up roses'...

BYE BYE BB!!!

Trustee in Bankruptcy, Corporate Insolvency, Restructuring, Consulting, and Corporate Finance - Active Files

The fat lady is singing - and it's her rendition of Goodnight Irene.

When the usual suspect HYIP ponzi forums finally give in and move a HYIP to the "closed, inactive and offline" section, it is D-e-a-d with a capital "D"

I have just been reading through the Canadian Court Order Documents and they made interesting reading indeed.

If ANYONE out there still believes a single word Chris Smith is spouting, then click on the following link and start reading from page 18. This details the formation of the IOM and closure of the IOM buisness with the REAL reasons for closure !

http://www.spergel.ca/corporate/reso...1%20of%203.pdf

Originally Posted by whatthe

I have just been reading through the Canadian Court Order Documents and they made interesting reading indeed.

If ANYONE out there still believes a single word Chris Smith is spouting, then click on the following link and start reading from page 18. This details the formation of the IOM and closure of the IOM buisness with the REAL reasons for closure !

http://www.spergel.ca/corporate/reso...1%20of%203.pdf

Goodness, Whatthe, you've found something potentially explosive now - thank you very much!

I have read the first 56 pages. I would STRONGLY advise that anyone with any interest in BB does the same. I mean, we all thought there was something, er, wrong; but when you see it in black and white like this, it's mind boggling. What is even more mind boggling is that Chris Smith has been wriggling about all over the place for at least 2 years - all the while spouting nonsense about "we're in it for the long haul" and "BB is here to stay". Meanwhile, to quote from the above document:-

BB court docs Aug 14.jpg


BB court docs 2 Aug 14.jpg

Anyway, there's LOADS more good stuff in the document. Chris, Raj and Kul - your time has come. I think you are all about to go down the tubes............

I wonder how they will spin this one on the webinar today??

A "hiccup" perhaps?

HAHAHAHA!


BB FB 29 Aug 14.jpg


Do you think they are all packing a bag, preparing for a nice long late summer holiday perhaps??

The party's over
It's time to call it a day
They've burst your pretty balloon
And taken the moon away
It's time to wind up the masquerade
Just make your mind up the piper must be paid

Originally Posted by Della Cate

I wonder how they will spin this one on the webinar today??

A "hiccup" perhaps?

Don't think there is one today (What a surprise), sept 5th is the next one !!!

Originally Posted by Della Cate

HAHAHAHA!


BB FB 29 Aug 14.jpg


Do you think they are all packing a bag, preparing for a nice long late summer holiday perhaps??

The party's over
It's time to call it a day
They've burst your pretty balloon
And taken the moon away
It's time to wind up the masquerade
Just make your mind up the piper must be paid

Mr Gary Nicholas - So this is all deliberate by Chris Smith to "out" the trolls !!! What a load of rubbish, go and read the legal Court documents linked above to see what is happening (Or perhaps We've made up these docs) !!!

Any notion that Smiffy is some sort of "financial genius" is destroyed by the revelations in the:

IN THE MATTER OF THE BANKRUPTCY AND INSOLVENCY ACT,R.S.C. 1992, c. 27, s.2, AS AMENDED
AND IN THE MATTER OF CERTAIN PROCEEDINGS TAKEN IN THE ISLE OF MAN WITH RESPECT TO BANNERS BROKER INTERNATIONAL LIMITED
APPLICATION OF MILES ANDREW BENHAM AND PAUL ROBERT APPLETON, IN THEIR CAPACITY AS JOINT LIQUIDATORS OF BANNERS BROKER INTERNATIONAL LIMITED, UNDER PART XIII OF THE BANKRUPTCY AND /NSOLVENCYACT (CROSS-BORDER INSOLVENCIES)

Smiffy is a bumbling fool who did himself and Banners Broker out of six million bucks with his ineptitude , thereby killing his cash cow forever:

Watch this space I guess.

Originally Posted by Gary Nicholas

But the trolls are popping up all over the net giving away their identity

Err, Gary,

at this stage of the demise of Banners Broker, I hardly think being identified as someone who speaks out against an obvious fraud is a bad thing.

Perhaps Gary Nicholas and his fellow HYIP ponzi fraud pimps' time would be better spent worrying about their own involvement with the Banners Broker criminals and the long term damage to their own reputations.

Nah, they'll just move on to the next-big-thing fraud like they usually do.

Trolls lol. This is the only place BB "affiliates" have ever been able to get the truth about BB.
Again today Harrison posts the truth, and evidence to back it up. Meanwhile BB website is down, and BBFB support has gone awol.
I think we are coming towards the end of this nasty ponzi. The forensic guys are on the case now.

What I find the most interesting paragraph of the Court Documents is on page 22, highlighted below.

Bannersbroker always claimed to be a broker who purchased large amounts of ad space, then sold it through affiliates, however their bank show very low expenses....




"30. OCRA was aware that Smith had set up an account with Allied Wallet and that this
account was receiving money from BBIL registered users and paying it into the BBIL Account.
A review of the RBS bank statements in or about October 2012 revealed incongruously high
and accumulating revenues, coupled with generally very low expenses. Internet searches
revealed a myriad of complaints against BBIL. OCRA's suspicions and concerns escalated."

Originally Posted by whatthe

What I find the most interesting paragraph of the Court Documents is on page 22, highlighted below.

Bannersbroker always claimed to be a broker who purchased large amounts of ad space, then sold it through affiliates, however their bank show very low expenses....




"30. OCRA was aware that Smith had set up an account with Allied Wallet and that this
account was receiving money from BBIL registered users and paying it into the BBIL Account.
A review of the RBS bank statements in or about October 2012 revealed incongruously high
and accumulating revenues, coupled with generally very low expenses. Internet searches
revealed a myriad of complaints against BBIL. OCRA's suspicions and concerns escalated."

I love that phrase - "incongruously high and accumulating revenues, coupled with generally very low expenses"

Even so, the court docs show that BB is now "deeply insolvent". Which makes me wonder just where all those "incongruously high" revenues went to. Some into accounts set up by Smiffy, is seems, but from there on, where did it go? Weekly deposits of up to $1.2million is a LOT of cash. BBIL has cash in hand of $3.3million - so where is all the rest?

I am hopeful that now this house of cards is tumbling down, the rest will be found.

That's right, love, you stay positive.............

BB Fb 3 Aug 29 14.jpg

Originally Posted by HARRISON

BYE BYE BB!!!

Trustee in Bankruptcy, Corporate Insolvency, Restructuring, Consulting, and Corporate Finance - Active Files

the dam finally breaks.

Dixit Johsun and others are implicated and a host of canadian accounts are involved.

I have been reading. When you get to the end of 422 pages you will notice the creditors list. 60% of the 9 million claimed is from ten people. Three are in the millions and that excludes Driscolls claim. Incidentally the "IC agreement " proffered by Driscol and others suggest between 5 and 10% was to go back to the IC depending on the amount they brought in. Given driscol claims he is opwed 3 million is that not claiming he brought in at least 30 million?

the Portugal Bill for their World Tour before Chris got involved also seems to pop up and runs into hundreds of thousands. the Liquidator seems not to mention knowing as to what this was .

Just wanted to note, yesterday Chris Smith had a birthday, he is 44 now.
Happy birthday scammer, I hope it is your last one outside the cell. :)

Originally Posted by Beacon

I have been reading. When you get to the end of 422 pages you will notice the creditors list. 60% of the 9 million claimed is from ten people. Three are in the millions and that excludes Driscolls claim. Incidentally the "IC agreement " proffered by Driscol and others suggest between 5 and 10% was to go back to the IC depending on the amount they brought in. Given driscol claims he is opwed 3 million is that not claiming he brought in at least 30 million?

the Portugal Bill for their World Tour before Chris got involved also seems to pop up and runs into hundreds of thousands. the Liquidator seems not to mention knowing as to what this was .

What did you expect? those lawyers were hired by Ian, they would not dare to accuse fraud.
In ponzi case their client looses too and will end up owing in clawbacks.
Hopefully some authorities will jump in on time.
Canadians, start annoying your authorities to intervine.

Boom goes the dynamite!

4.
THIS
COURT
ORDERS
that the following orders (collectively, the "Foreign Orders") ofthe High Court of Justice of the Isle of Man, Civil Division, Chancery Procedure, made in theForeign Proceeding are hereby recognized and given full force and effect in all provinces andterritories of Canada pursuant to section 272 of the BIA:(a) the Order of His Honour the Deemster Doyle, First Deemster and Clerk of theRolls, issued February 26, 2014, and(b) the Order of His Honour the Deemster Doyle, First Deemster and Clerk of theRolls, issued March 14, 2014;
...
7. THIS COURT ORDERS that: (i) the Debtor; (ii) all of its current and former directors,officers, employees, agents, accountants, legal counsel and shareholders, and all other personsacting on its instructions or behalf; and (iii) all other individuals, firms, corporations, governmentalbodies or agencies, or other entities having notice of this Order (all of the foregoing, collectively,being "Persons" and each being a "Person") shall forthwith advise the Receiver of the existenceof any Property in such Person's possession or control.
11. THIS COURT ORDERS that Christopher G. Smith, Rajiv Dixit, Kuldip Josun, and anyother persons) that the Receiver reasonably believes may have knowledge of the Debtor'saffairs, attend at an examination under oath before an Official Examiner in Toronto, on a date tobe agreed upon or selected by the Receiver, with a minimum of 10 days notice, notice to includea copy of this Order, and answer questions propounded to them by counsel for the Receiver andprovide testimony including, but not limited to, the following matters:(a) the Debtor's trade, dealings and Property; and(b) the matters described in the Foreign Representative's affidavit filed in support ofthe within application.

Originally Posted by NikSam

What did you expect, those lawyers were hired by Ian, they would not dare to accuse fraud.
In ponzi case their client looses too and will end up owning in clawbacks.
Hopefully some authorities will jump in on time.
Canadians, start annoying your authorities to intervine.

We can do our bit here to show Driscolls associations with dodgy businesses.
Get out your muck rakes.

Originally Posted by Della Cate

I love that phrase - "incongruously high and accumulating revenues, coupled with generally very low expenses"

Even so, the court docs show that BB is now "deeply insolvent". Which makes me wonder just where all those "incongruously high" revenues went to. Some into accounts set up by Smiffy, is seems, but from there on, where did it go? Weekly deposits of up to $1.2million is a LOT of cash. BBIL has cash in hand of $3.3million - so where is all the rest?

I am hopeful that now this house of cards is tumbling down, the rest will be found.

According to the court documents , Members funds in Allied Wallet were transferred to a couple of personal Canadian Bank accounts held by Chris Smith and Patricia London and a couple of other companies owned by Chris, Local Management Services and 2087360 Ontario Inc..

Let's hope that they will be able to seize the assets of Raj and Chris.

This weeks scaminar is off & I would imagine next weeks won't happen either.

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I don't know the laws in the UK and history tells us the UK authorities are unlikely to take action, but, unless he can provide evidence of seeking legal advice as to the legitimacy of Banners Broker before he accepted his claimed millions in recruitment commissions, Ian Driscoll has effectively convicted himself of direct involvement in the massive, multi million dollar fraud that is Banners Broker.

In legal terms, Driscoll "knew, or should have known" Banners Broker was an illegal ponzi fraud BEFORE he started accepting recruitment commissions and made such public statements WRT the legitimacy and legality of the Banners Broker "opportunity"

Particularly in the USA, the fact he DID accept commissions and DID very publicly promote Banners Broker would mean unless he could provide verifiable proof he sought and obtained legitimate legal opinion as to the legitimacy of the opportunity he so very publicly promoted, ( and accepted money for doing so) he would find himself in some deep doo doo without a defense