Polynesian regulators issue iGetMania warning
News today from Polynesia, where local regulators have issued a warning to GetEasy and iGetMania investors.
Too little too late now that GetEasy and iGetMania have collapsed (read: those who made money have done a runner)?
Yeah, I think so.
For those unfamiliar with the territory, Polynesia is ‘made up of over 1,000 islands scattered over the central and southern Pacific Ocean’.
Among these islands is French Polynesia, where approximately 268,000 people live (2012 census).
From this relatively small amount of people, some 205 million CFP ($1.95 million USD) was invested in GetEasy.
Now with the scheme having failed to rebrand itself as iGetMania and collapsed, Polynesian regulators are left dealing with the aftermath.
Describing the scam, Polynesian regulators state
There was not much to do, just pay money and convince other participants.
In fact, investors were paid capital of Get Esay, with records of online bank accounts in their names showing huge sums.
But these outlandish returns were never paid. The scam is that they were made to believe that they were paid millions, but these were only dummy accounts.
Citing iGetMania, Polynesian regulators told local investors
Beware like the plague any financial proposal made on the Internet where you are told that you will earn a lot of money if you give me a little (money).
The purpose of these international organizations is to drain the maximum amount of money in a minimum amount of time before judicial authorities can intervene.
The funds raised by the creators of these networks is then deposited in countries where international judicial cooperation is weak, and they are never recovered.
Attempts to hold someone responsible locally have resulted in at least one Polynesian being indicted. Three more individuals are awaiting the hearing of separate cases against them.
Another report suggests some of those arrested were caught attempting to flee the country with their earnings:
The first results of the investigation by the police led to the arrest of the “leader”, a woman of fifty years.
A promoter and several players were also arrested. “Some had in their possession several hundred million French Pacific francs, and were stopped as they were getting ready to flee.
The criminal proceedings in these scams are always very complex because the authors are often in good faith.
They do not admit that the organization is a scam and are themselves victims “still indicates Public Prosecutor José Thorel.
As for the brains of these international scams, they often flee with the money before actually being arrested by authorities of the countries they operated in.
However when they are identified, they can be tried in their absence – where they could face up to 5 years and be condemned prisoner by default. It is only then that a warrant for their arrest may be issued.
Not sure how much luck they’ll have with that, but at least it’s something.
To date, still absolutely nothing from Portuguese regulators regarding the scam.
For shame Portugal, for shame.