online scam

[badboy09]

Hi there , just looking for a little info in regards to a recent claim i put in to santander and wondering what the outlook may be ?

 

I joined an online REVSHARE business called " MY ADVERTISING PAYS " back in march 2015 , and this was the first program i had got involved in when i started network marketing online ,

 

i invested about 4-5 grand in this business over a period of about 18 months ,

the idea of this business was that for every credit pack i bought costing $50 i would receive $60 back , ( yes i was gullible and believed this) as it looked legit at the time ,

 

i had now managed to purchase 235 of these packs over a period of time ,

i was earning roughly $100 off this program ,

 

when it came to the time i wanted to withdraw

, they then turned the option off ,

leaving thousands worldwide with mass losses ,

 

i contacted santander , and put a claim in that i didnt receive the service i had signed up for , and would like them to put a fraud claim in so i could claim the funds back ,

 

i used my visa debit card to do all these transactions ,

over the time period ,

 

they have since closed down " MY ADVERTISING PAYS" and reopened it as " THE ADVERT PLATFORM " and started doing the same again !!

 

what are the chances of me getting any of the money back ??

 

ty in advance

 

badboy09

[BankFodder]

http://www.mirror.co.uk/news/uk-news/promoter-denies-advert-platform-rich-9603176

[BazzaS]

If it looks like a Ponzi scheme (almost said the sc word that rhyms with ham, but the site autoedits that!), but the promoter says "no, it's not!" : look at the scheme itself.

 

Does it rely on new joiners to create the revenue being paid out? Clearly.

 

(Not essential but a 'warning flag'; does it tempt existing members to "re-invest" their "gains"?). This one seems to have done so.

 

Your own maths tells the tale.

235 packs bought at $50 : $1175.

 

Yet you believe you "invested" 4-5,000.

Even if that was $4k instead of £4k (keeping the figures as low as possible) where did the extra $2825 come from?!

 

So, I suspect any claim you could make would be limited to the $1175, but even then : you were buying into a business, albeit a Ponzi one.

 

I suspect Santander will say "you were buying a service with risks,and that is what you got", in denial of any claim.

[badboy09]

ty bazza , yes it was a foolish and costly one , the reason i said $4k was because it was , the way it works is this , you buy a credit pack it lasts for 90 days , then expires but it pays you $60 from the $50 you invested , and with the amount of packs i had i had quite a few expiring and then i was using the $60 i made and investing it into another credit pack , if that makes sense , i have had way more than 235 over the period of time i was in it , but its hard to calculate when packs drop off ( expired) and then when other ones are bought , when i spoke to santander they had amassed all the payments i ever made to this company and its roughly 4 grand there and abouts , and yes it did rely for you to bring in referrals to the business to , it sounded very appealing at the beginning when they showed you how easy it was to earn money , and it had been around for a couple of years as well , might as well take it as a lesson learned i guess

[BazzaS]

You still haven't lost 4 grand.

 

You've bought 4 grands worth over the whole period.

 

However, they've "paid out" for the ones that expired and got paid before the pyramid collapsed!

Why should you be considering claiming for the one's you bought and got paid out for, (regardless of what you then chose to do with that money!)

 

Your claim should focus on what you bought and didn't get paid out for (but even then I don't rate that claim's chances!)

[badboy09]

ty for your help bazza , much appreciated