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A moment ago we were discussing about signs of Offshore Club, now an update:
Dear Offshore Club Members,
I writing this sad news to share you some facts that affected our business and put Offshore Club in a situation where we can’t move any step to any direction.
To sum up the story, we will tell you exactly what happened with Offshore Club
from the beginning of 2006.
First of all, let’s remind you with what happened with our e-gold account before 2006 which was our first financial disaster. E-gold start blocking all our accounts without any reason or previous
notification. We have supplied required Due Diligence documents 3(1) times to them, but they refused it accordingly to item 4.6 of their Terms of Use:
Quoting:
4.6. Right of Association
Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion, with or without cause.In the middle of 2006, the impact was harder which was made by another payment processor which was Uniclear Express. As you already know Uniclear stopped withdrawals from their system and significant amount of Club assets was frozen there. I strongly believe that Uniclear would be in business later, but we can’t get our funds back still.
The same big drama kept going on.. and this time it was our wire transfer processing system. During short DDOS attack on our hosting provider some of our customers ordered charge back of wires sent to the Club. Banks of this customers began investigation and had put our bank account in “black list”. This situation draw unwanted attention of authorities and we faced with many other problems both online and offline.
In the last period of about two weeks ago, we were working very hard and thinking on how to solve our financial problems. Unfortunately, after long investigation we decided stop risking with our member’s funds. We do not want to happen that situation when all our payment accounts would be frozen by authorities. As I already mentioned our investigation shows that situation is critical.
In light of this facts we decided to close Offshore Club as online investment opportunity. As we stated we guarantee our investors principals and we would start refunding process in next few days. You will find more information about refunding process on our forum. Please do not trust any other information sources and trust only official information from the Club. I suggest our members do not panic and calm down: We will refund your principals.
Sincerely yours,
Offshore Club Administrator.
This is definitely a big hit to alot of members in OSC.
Popularity: 1% [?]
WELL,
I hope some of the OSC members remember I posted it wasnt safe and issued a warining a couple months ago, and that I pulled out. I was of course chastised severely for it by some members.. to be expected. Just because it is paying, means nothing, there were VERY large investors there as well. The more they earned trust, the more money invested, the more can be abscounded with.
I hope they refund the members.
Sophie,
like you I hope they refund the members too. i can’t imagine the massive amount of members they have over the year and how many new deposits do they have for the past few weeks/ months.
there’s definitely people who bet their bread in OSC.
well, they fail to be candidates for best hyip in 2006.
I read there are someone who has just invested $14000
what will you do if those money didn’t get refunded ?
for me I’ll lay in the middle of highway.
Ivan: it’s still just money I guess, move on, the money will be back in no time. Still, its on impulse that someone has punted so much.
Uh, this one also hits me
I hope i get refunded my 150$ bucks.. or even some of them.
Unfortunately i did not read this blog months ago so i didnt know about your warning
lets hope for some money back..
Yea let’s hope your money gets back to you Hecht, a bad timing to join them I guess.
By punting on a company which does not give DD is plain stupid. The old story of diversification but done smartly should be followed… OSC is over so move on guys!
I hope it wont causes a domino effect to other programs
costariver, most probably it will, we’ll see it happening really soon.
New words that OSC might turn private. If you’re existing member of OSC, log in to the forums to check it out.
OffshereClub member are getting refound!
That’s good to hear, did you get any refunds Savioradas?