argent-global-network-logoEarlier this month we reported on Argent Global Network confirming that regulatory issues were behind the company’s ongoing payment delays.

These issues naturally killed promotion momentum and the new funds Argent Global Network relies on to pay off existing investors have all but dried up.

In an email sent out over the last twenty-four hours, the company now advises it is suspending all affiliate withdrawals and cancelling support.

Quite obviously the problem-plagued company is in a shambles, however you won’t get any acknowledgement of what’s actually going down in their latest update.

Rather, despite quite obviously being starved of new funds, the picture painted is one of illusionary progress:

Dear Argent Members

We are writing to you in order to provide you with reassurance about Argent Global Network and to set out the steps we are taking to rectify the challenges that have arisen in recent weeks.

We realize that you are frustrated by the setbacks we have experienced and the delays which have resulted from them. That frustration is deeply shared by those of us who have the job of developing the network and creating the appropriate platforms and systems to ensure the success of AGN.

It is our responsibility to put them right, and we are determined to do so as quickly as is humanly possible.

There’s only one thing that can “fix” Argent Global Network, and that’s new investor funds. You can’t “develop” or willfully “determine” that into existence, new funds are either flowing in or they aren’t.

We have given the most careful consideration to the factors that led to the setbacks, in particular to the issues arising from the change of funding & e-wallet, when processes that had previously been done electronically, now are being done manually and new systems had to be put in place.

Because of this, it has inevitably led to major delays in business transactions. It also has caused us to give priority to these processes at the expense of other key strategic programs, thereby leading to a loss of confidence and momentum in the field at an important stage of our development.

Identified as “risk factors”, it appears regulatory problems also continue to be an issue:

We are now in the process of re-shaping our business processes and eliminating potential risk factors. This will inevitably take some time as we are determined to get it absolutely correct.

And finally, after all that… here’s what the update is actually about:

We expect to have all this done and fully operational again in January. During the restructure, all member activities will continue with the exception of withdrawals & the matrix.

Please do not send emails to support@(removed). We will be working diligently to clear out the backlog, the email address will be available again at the end of the restructure period.

Note the use of “expect”.

Does it take two months to resolve regular ewallet payment processor issues? Hardly.

What we’re obviously looking at here is a failure to circumvent financial regulation, which has previously been confirmed to be thwarting Argent Global’s efforts to administer their Ponzi scheme.

Under the guise of “restructuring”, they’ve now effectively given themselves at least two months to explore ever-riskier alternatives.

No doubt Argent Global Network affiliates can expect further excuses and broken promises come January.