Newsletter: FinMutual new listing, MutualWealth halted by SEC, Cryptory new lang RSS - comments

Hola mis amigos!

First of all, don't you worry. I know that I disappear from time to time, and you must feel terrible about it: you're probably suffering from insomnia and PSTD, you're crying all the time and every day is now a bad hair day.

I apologize. But sometimes you just have to let it go. And by "it", I mean the online world. Still, I have been busy and today I'm going to share all my freshly acquired knowledge with you. We have added a new program, discovered some unsettling facts about Mutual Wealth's future and conducted an interview with piratcoin.me's administrator, which is available here: http://www.money-monitor.com/article/view/slug/interview-with-piratcoin-admin-andrew. Are you ready to start our journey?

 

NEW PROGRAM ADDED: FINMUTUAL

To start with, FinMutual, our newest addition, is "in the niche of crowdfunding". The program set up its domain in July 2013 (valid for a year) and implemented Comodo Extended Validation Secure Server certificate in February 2014 (valid for a year). It is easy to check the program since they do not make any mystery of their address (FINGROUP LTD., St. John Street, London) or phone number (+4402032397334). In fact, you can also contact the company via Skype (finmutual.com) or Facebook (https://www.facebook.com/finmutualcom).

As far as the plans are concerned, there are three different options: 1.80%, 2.20% or 2.60%. You can earn daily from Monday to Friday for 160 business days. Deposits start as low as $25 and there is no maximum amount set. The principal is non-refundable and there is no compounding option available. The total return varies between 288% and 416%. All the shares are kept by FinMutual for "around 2 years" before the entrepreneur can buy them "at market price". Payouts are handled manually and can take up to 48 hours. You can use all the major money processors: SolidTrust Pay, Bitcoin, EgoPay, Perfect Money, OKPAY and PexPay to deposit your money with FinMutual. When it comes to Perfect Money, due to popular demand, FinMutual has verified its account and now "processes withdrawals with Perfect Money VERIFIED status".

Where did I find this piece of information? On FinMutual's highly informative and regularly updated Facebook page. The website is just as well-prepared, although one may find the forever funny "lorem ipsum" leftover under Terms and Conditions. Still, it is easily navigated and setting up an account won't take more than a couple of minutes. Naturally, FinMutual also offers an affiliate program, and one can earn 5% on referrals.

 

MUTUAL WEALTH HALTED BY SEC

According to its official website, the Securities and Exchange Commission filed an official complaint in the US District Court for the Central District of California to stop "a fraudulent pyramid scheme by phony companies masquerading as a legitimate international investment firm", namely Mutual Wealth. What one may read in the complaint is rather succinct and to the point, since the claim is that "almost nothing that Mutual Wealth represents to investors is true".

One of the arguments is that Mutual Wealth does not actually purchase or sell any securities on behalf of investors, as it is supposed to do, but just "[diverts] investor money to offshore bank accounts held by shell companies". What is more, there is no seat of the company in Hong Kong or New York. To add to this, the list of executives on www.mutualwealth.com is completely fabricated and it is not "duly registered with the SEC", as MW claims "in e-mails to investors". SEC also mentions the fact that MW "operates through entities in Panama and the UK and uses offshore accounts in Cyprus and Latvia [...] to divert money from investors". What may be even more damaging to MW's image is the fact that, according to SEC, the company's "sole director and shareholder presented forged and stolen passports and a bogus address to foreign government authorities and payment processors".

Consequently, as of March 5, 2014 MW's assets has been frozen and the website should go offline. However, at the moment the page seems to be working fine and Mutual Wealth assures that the company is "aware of this issue and it is not as bad as the press makes it look". Moreover, MW claims that they are in fact working on some sort of resolution with the Securities and Exchange Commission. To add to this, according to Mutual Wealth, "the issue at hand is a disagreement between us and the commission as to the status of advisors in the United States and our legal team will be in Court this week".

One may also venture a suggestion that since there are only 150 investors from the US involved in Mutual Wealth, who – according to the SEC's website – "collectively invested a total of at least $300,000", the commission should only concentrate on American citizens. What's more, one may ask why people outside the US should be controlled by an American entity... As our administrator puts it, "SEC can take care of their own citizens, but not the whole world! I didn't ask SEC to care about my money! I hope that MW has enough power to defend itself".

 

UPDATES: EOS, CRYPTORY, ALBION UNION, UINVEST

According to the owner of EOS, another version of the site was recently added, so now you can read it in English, Spanish as well as Russian. What's more, another payment processor was introduced to the site, namely Pexpay. From now on, you can also use the currency manager to exchange currency "at a lower rate".

Cryptory has also been busy as far as the language versions go: cryptory.com is available in more than 10 languages, including – as of now – Greek and Polish. It's not the end of the development process. Apparently, Cryptory is working on a system that will generate "weekly reports that will allow for global transparency for its services". Such a report will include: "costs associated with new equipment, Blockchain Links (number/hashes of mined blocks on blockchain.info), expenses attached to electricity, number of processors, ratios related to first and second generation processors, and other reports and documentation that support this goal".

AlbionUnion added a couple of payment processors and now the list includes the following: bitcoin, EgoPay, QIWI, STP, Sberbank, VTB24, Payeer, liqpay and Perfect Money.

UInvest (current status ON HOLD) announced that one of the TOP(s) "will start paying money under the terms of his TOP fund soon". What it means is that those who invested in "Novarello" will be getting their money starting on April 5, 2014. Moreover, according to the latest newsletter, "the rate of withdrawals under the terms of this particular TOP fund is just 50%" and they will be paid for 48 months. In other news, a UInvest Facebook contest was announced: "The most devoted UInvest follower on Facebook” will begin on March 3, 2014. The winner, "the most active social media follower to like and share most of posts of UInvest Official page on Facebook" until March 14, 2014 will win $100.

 

PROBLEMATIC PROGRAMS

Yes, we do have a "naughty list" this time. Not only did Inside Forex Group stop paying, but it also went offline soon afterwards, which means we have a PROBLEM. The NOT PAYING list today includes 3pamm and Stamp Pool Inc., which quickly stopped paying – it may have something to do with the fact that www.mtgox.com is not working and the program was supposed to operate on the basis of that site.

 

Stay safe, amigos!

 

Yours truly,

mm_aficionado

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