Wealth4AllTeam suspend payments till Sep 2013
One of the minor irritants of a Ponzi scheme is that sooner or later the money being withdrawn exceeds new money being invested.
This can usually be sustained for a short while but sooner or later those payouts have to stop.
Last we checked in with Wealth4AllTeam they had just come off the relaunch of their Ponzi scheme (“a total passive investment only program“) they claimed would pay out a guaranteed 1.6% daily ROI, sourced from “new deposits”.
2 months or so later this new reboot scheme failed, with Wealth4AllTeam citing “low membership” (no new investor money) as the root cause.
Rather than just come clean and admit they were simply running a Ponzi scheme that ran out of new investor funds, a notice published on the Wealth4AllTeam website indicates CEO Danny Cianciulli are going to try to continue the charade well into 2013.
Hacker attempts, stolen money, fraudulent accounts… these are the usual porky pies Ponzi scheme admins spew out when they run out of new investor money. Over at Wealth4AllTeam things are no different.
In their recent update, published on the 17th of April, Wealth4AllTeam explained to their members that
the company had contracted an outside consultant to make some of the investments needed to make the program sound and viable. This person literally stole most of the money that was being used for our investments from the accounts that were created in Forex and two other investment vehicles.
At this time, we are dealing with the authorities to see if there is a way to recover this very damaging loss which has left us in a financially precarious position.
Right. Mystery max “X”, who the company trusted to invest their money in that wonderful magical world of Forex simply just up and ran with member’s hard-earned invested money.
The loss has set us back a few months. Because of that, we will suspend all withdrawals until September 2013, so that we have time to recover from the loss.
We will not respond to emails or requests for withdrawals. It has always been my intention that no one would lose money, and I ask for your continued support and patience during this transition.
Withdrawals? No. New investments? Sure, why not. Oh and the porky pies don’t stop there…
Also, the system was hacked and the database was compromised. The damage done there is going to cost well into the thousands of dollars to fix.
The hackers damaged the main pointers to the database. Because of the system being hacked, the site back office will not be available until further notice.
“Sorry guys your money is gone and oh uh… you can’t login anymore or contact us about it because we won’t respond and we were uh… “hacked” *muffled laughter*”
Reading between the lines Wealth4AllTeam are simply informing their members that the money they invested is gone. Now they’re looking for members to invest even more money till September 2013, on the promise that
We now have a sound strategy, we have partnered with two companies (not individuals) who will help us create solid capital so that we can recover, pay members, and re-launch.
These trading companies are registered here in the US, and these experts will be dealing with our money on a daily basis.
Because of the small amount we are forced to start with, due to the loss, it will take longer than anticipated to create capital.
The names of these trading companies is of course not provided but Wealth4AllTeam insist that this time around they are
confident that the new program will be successful.
Why? The capital investments and capital backup will be created FIRST, before we launch again, to backup any payments the company will make to you, our valued members.
Ahh right. So the key to Ponzi success is to make up a BS story before you run out of money, not after. Such a rookie mistake to make… silly them.
Looking forward, Wealth4AllTeam write
we will re-launch on a solid footing with the capital to pay everyone and to continue our program for years to come.
At that time, members will have the choice to either withdraw their money or to continue to support the new program.
When the new program is launched, we will be publishing our capital earnings from investments.
Many companies out there say they are investing your money in Forex, but they never tell you what is really going on behind the scenes.
Surely it would be much more easier (and transparent) to just put up a page with a diagram showing new investor money being paid out to existing affiliates?
Far more accurate than all this Forex investment crap. I mean really, if Cianciulli had the ability to turn a “small amount” into capital large enough to support a daily 1.6% ROI, what does he need Wealth4AllTeam affiliates for?
“Great question Oz!”
Thanks Oz. Don’t dare try asking Cianciulli or the rest of the Wealth4AllTeam management that though, or you can say bye-bye to your imaginary Ponzi returns:
Please remember that every member has signed the Wealth4All Private Marketing Association agreement which states that member issues will be handled through the private membership association, not the public domain.
This includes any financial or other issues as they may arise. Also, we will not tolerate any negative communication – verbal, written, or posted on any website or in any forum on the internet.
Any negative or derogatory comment about the company or its officers will be considered a breach of the PMA.
It will result in the immediate expulsion of the member from the program and forfeiture of any funds in his/her account.
Sit down, shut up and hand over your money – because this time we know what we’re doing…