Achieve Community in crisis. No processor, not compliant.
Despite previously claiming that their “new Payout Processor is Global Cash Card”, news today that Achieve Community is once again without a payment processor.
When exactly Kristi Johnson was made aware GCC would not be working with Achieve is unclear. Today’s announcement however appears to have been prompted by an Achieve affiliate publishing an email they received from GCC.
This is a shocking update I have for you all. I had emailed GCC to ask whether they would send the debit cards to India, as previously Payoneer did not, due to some Indian regulations. And guess what response I got back from GCC …
“The Achieve Community is not a client of Global Cash Card.”
This was written to me by Joe Purcell, email id (Ozedit: removed). I sent the email to (Ozedit: removed) which I found on their FB page.
In response to this, I sent them back a screenshot of the update on Dec 18, 2014 saying that GCC would be our payout processor, and again Joe replies …
“We have decided not to service them…….they are aware”.
Had the affiliate of not published the correspondence, whether or not Johnson would have made today’s announcement is uncertain.
If I had to guess, I’d say she was made aware of GCC’s decision on or around her December 31st admin update.
Out of the blue, Johnson pleaded with affiliates to stop publishing information about Achieve Community on Facebook:
We are no longer able to be a Facebook program – and that is not up for debate – there are several reasons for this – and most have to do with our processors.
Reading between the lines, I believe the above was a misguided attempt to scrub the internet of Achieve Community’s inner-workings.
Johnson had likely been informed GCC had rejected them, and believed she’d have a better chance hoodwinking the next processor she applied to without claims of 800% ROIs and what not plastered all over Facebook.
Again, speculation on my part entirely – but it fits.
What Johnson has been up to over the last week or so is unclear, but today’s announcement suggests that resurrecting the Achieve Ponzi might not be as simple as approaching yet another processor.
Hello Achieve Community!
I have some bad news for the Community. GCC is not going to work with us after all, and that is not the worst of it. We have to restructure our Achieve organization. I don’t know yet what that will mean entirely, until I speak with my lawyers tomorrow.
All I can tell you is that I fully intend to have us up and running again as soon as possible and that I know there are many options for doing this. But at this point I need expert advice and I’m not going to guess at what that will be.
Why Johnson didn’t consult her lawyers for “expert advice” prior to launching a Ponzi scheme, or why she didn’t again when Payoneer terminated their payment processor account is entirely a mystery.
If her lawyers are half-decent, tomorrow’s meeting will see them advise her that running a Ponzi scheme is illegal. Johnson herself appears to be anticipating that, based off her claim that Achieve needs to “restructure”.
Meanwhile you can bundle whatever you want with the investment positions offered (advertising banners was the last half-assed attempt), but if you’re still just using new affiliate funds to pay off existing investors, you’re going to fall well short of regulatory compliance.
Instead I’ll let you know when I have real information about what this is going to take and how long it will take.
I know that Achieve is not going anywhere, no matter what we have to do – and you will know what our future will be as the solutions are put into place.
There is a lot of work for me to do….I’m very sorry I can’t just be online and talk with all of you….but this restructure needs my full attention now.
Nothing is going to stop me. This Community is changing the world and we aren’t going to let a few set backs stop that.
Logically the best course of action would be to immediately issue refunds to Achieve Community investors.
What with the admins and early investors having made off with hundreds of thousands of dollars in stolen investor funds though, you can see the motivation behind Johnson’s “nothing is going to stop me” sentiment.
She has no choice but to continue to try to keep this sinking ship afloat. Lest she fess up and deal with the Ponzi aftermath she’s created and admit she can’t pay refunds using money that has already been paid out.
The Achieve Community Ponzi saga continues, stay tuned…