WeShare Crowdfunding collapses, reboot planned
WeShare Crowdfunding was a cash gifting scheme launched mid last year.
Alexa traffic statistics suggest the scheme went into decline shortly after, however it did manage to limp along until recently.
Unfortunately for most participants in the scheme, the inevitable collapse has hit and their funds are lost.
Roughly a year after it’s launch, James Hill and his top affiliates are again gearing up to fleece victims in a new reboot scheme.As per a notice published on the WeShare Crowdfunding website (spotted by Ethan Vanderbuilt), the official reason for the collapse is a ‘former merchant processor continues to hold over $2 million‘.
This is a common enough excuse among the MLM underbelly, often trotted out to mask a scheme simply running out funds.
In light of the collapse, WeShare Crowdfunding claim they aren’t going to “start over”.
Many of weShare’s top leaders have suggested that we simply draw a line in the sand and start over.
That sounds simple enough. But it’s not a sound solution, either legally or logistically.
Ironically, that’s then exactly what the company proposes.
Citing “another crowdfunding platform” that is of course not disclosed, WeShare Crowdfunding claim their current top-investors have “been meeting with the owners”.
With weShare’s consent, the owners have met with weShare’s senior management and support team. Marvin Higbee (weShare’s acting president) and Rick Moore (weShare’s acting CFO) have been offered executive positions.
Mr. Higbee has accepted the position as CEO, and Mr. Moore will be their new CFO. weShare’s customer support team will be engaged to add customer support for this new company; they are already trained, they already know you and they are ready to hit the ground running.
Alright, so new name and then back to scamming unsuspecting victims?
Not quite. Here’s the catch:
To be clear: although this new company is willing to accept every weShare project manager as a member of its team, it cannot assume liability for any amounts that may be in your weShare wallet.
So to be really clear, WeShare Crowdfunding’s top investors have graciously accepted positions in a “new” unnamed company, which assumes none of WeShare Crowdfunding’s cash gifting liability.
Let’s cut the bullshit and call this for what it is, a reboot gifting scheme run by the same people behind WeShare Crowdfunding.
WeShare Crowdfunding itself was a reboot of James Hill’s Gold Crowdfunding. Relaunching collapsed schemes is par for the course for Hill.
Feed the victims some BS about a new company and offer them a “ground-floor opportunity”, and off you go.
The reality is reboot schemes are never as successful as their predecessors. The end-result is those who lost money in the first collapsed scheme are usually robbed twice, when the reboot scheme also collapses.
WeShare Crowdfunding’s “new” company will be no different, with top affiliates and management (who preload the new scheme with positions) again the only participants who make substantial money.
That is of course only if you “donate” it to them.
Once bitten twice shy, or are you really going to fall for this crap a second (third?) time?
Basically bending over victims again and using just a tad bit of lubricant so that it won’t feel as painful as the first time.
You can always make big money with the Stupidity of people. Hard to say but thats why MLM exists over the long run.
I was an MLM person with a 12 year career in this industry and got more and more discouraged – especially in the last months – not only about those opportunities and their so called Leaders but as well about the people who believe in these ‘founders’ and ‘life changing ideas’ – and encourage others to do so too.
At the end of the day MLM ends up for the majority of people like a money lottery – dreaming the big dream while their money AND TIME is running through their fingers. Proof me the opposite …
My personal experience in the last months has been a disaster in trusting people and getting the penalty. People who are true to their words die out more and more. (By the way: not only in MLM – but there particularly)
Seems every scheme do this periodically to try to weed out those who want their money OUT of the system. UFUN rebooted, Phil Ming’s WCM rebooted in China, even Gemcoin itself was a reboot. And let’s not forget BigCoin’s reboot into OneCoin.
The whole reason they need a reboot is to f*** those who invested last round. Who’s to say they aren’t going to f*** you around this round?