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Here we are, presenting an interview with administrator Greg McKnight of Legisi.com. It’s a short interview, but I couldn’t find any better questions to ask since he won’t be telling us much what he’s doing with the loans that he receive.
Have fun reading 
———————-
Hi Greg, Thank you for accepting this email interview for our readers at No Bullshit HYIP Blog Community.
First of all, would you like to introduce yourself?
My name is Greg McKnight.
Why is your program named Legisi? Does it represent anything or have any special meaning?
Legisi (pronounce like Legacy) stands for Lucrative Electronic Gold Income Services International.
Do you have a team that is working with you at Legisi? If yes, how many staffs and what do they actually deal with?
Yes, we have three support staffers as well as several professional traders through our managed brokerage accounts.
Have you ever been involved with any other programs other than Legisi?
Other than losing money to HYIPs, no, I haven’t been involved.
Can Creditors actually visit or meet you if they have any queries about your program? If yes, how?
Yes, of course, I have meet personally with several people that are local to me.
My address is published on the website as well as my home phone number.
As for the how(?), you need to come where I am, let me know you’re here
and when and where you’d like to meet. How else?
What actually made you started this program?
With the extremely large number of scams on the Internet today, I saw an
amazing opportunity for someone with the right knowledge and connections
to step forward and create an honest, legitimate program.
Is there any other sources of Due Diligence being done on Legisi? Do list them if there is.
None that I know of.
Where do you see Legisi heading in the future. Is there any specific goals for it?
One of my personal goals is to run my program so well that the “scammers” won’t really be able to compete. Unfortunately there seems to be an endless supply of greedy, naïve people that will throw their money into something that cannot possibly be legitimate.
Does Legisi has any niche compared to other loan program offers in the Internet at the moment?
I still have no idea what you’re talking about here so I guess the answer is no.
I understand that it’s a loan to Legisi Holdings, LLC when members actually deposit the funds. Is there any field(s) that Legisi is expert in to generate the monthly high yield interest for members?
I’ve already told you that I use accounts managed by professionals.
Legisi’s started on December 28, 2005. Were there any hiccups in administrating Legisi since it started? If yes, would you like to mention the hardest period and how did your team overcame the situation(s)?
The only hiccups we’ve had were caused by hackers. When they “invaded” my original website, I took it down and moved it to a domain only disclosed to existing members. Then I hired programmers to build a highly secured website from scratch. That is what you now see at Legisi.com now.
Could you explain on this clause in your FAQ “We have committed to running a minimum of 5 years”, Why 5 years? Is there anything we or the creditors should know?
You’re mis-reading that statement. It means I won’t retire it in less than a 5 year period. I may run it longer, but at some point I will no longer need to borrow money at 10-12.5% and I’ll close the program after all members have been paid exactly as promised.
There’s also an emergency reserve fund that you have established, how much is it and have you used the funds as yet in the payouts?
No, we have not yet needed to access the Emergency Fund. How much is it? A very rude question indeed. How much is in your bank account?
Frankly. I wouldn’t mind answering that question, but lets move on.. What do you think of our blog?
I think all such sites can be great tools for newbies and novices as long as they stick to Due Diligence and don’t cross into paranoia.
So could Legisi offer any kind of Due Diligence to the creditors?
I kind of thought that was the purpose of the interview. What else are you looking for?
Popularity: 23% [?]
Hello Greg,
Upon Legisi site being available to public again, I note that the program terms have changed.
Can you please speak as to why? It appears that you either needed to adjust for unanticipated operating expenses or wished simply to increase Legisi’s profit?…combination of those two factors would make sense.
Regards,
Scott
Many of you wouldn’t know this but e-bullion charges a 2 - 3% uncapped fee for withdrawals. That means is costs me $20,000 to wire $1,000,000 to a brokerage. I couldn’t keep paying fees that high and 15% on my VIP fund so I lowered it to 12.5% to compensate and preserve the integrity of the program.
I think most — at least significant lendors — are aware of that Greg. E-Bullion is pricey no doubt! I haven’t dealt with E-Bullion in a while but last I recall it cost me 3.5% out.
Over time, your offering of 12.5 is much less attractive than 15% of course.
I don’t mean to pick at your every word and honestly wouldn’t take offense if you chose not to entertain such specific questions…
E-Bullion costs are “anticipated”. That said, I realize you added E-Bullion later in the program. There is still always E-Gold (which you’ve had in place from the onset I assume) and Bank Wires.
From what you have stated, am I to surmise that most lendors now prefer to work with E-Bullion, thus the unanticipated increase in costs? Does E-Bullion now dominate your transactions?
Lendors making 4 figure spends in your program surely realize that simple Bank Wires are less costly.
But then, for some there may be other advantages to ecurrency beyond it’s costs
Greg, thank you for conducting this interview and entertaining follow-ups.
Regards,
Scott
Scott,
I’m sure the only way you paid 3.5% to withdraw e-bullion was through a 3rd party exchanger. Liquidation at EB is 2% for e-currency and 3% for gold.
While 15% is less attractive, we’ve still managed to attract $13M. 12.5% is very reasonable and a lot more than the bank, eh?
Yes, E-Bullion transactions are now 2/3 of our deposits.
I don’t and won’t accept Bank Wires (yet). E-currencies are much more easily managed.
Greg,
Please correct me if I’m wrong..
Profits wont be withdrawn until the 4-months holding period has expired?
forgive me greg but i want to know of some people that have gotten paid. there are a lot of scammers out there an i don’t want to fall victim.
Well I find Greg’s answers to the interview to be quite sarcastic and rude. Turn off.
hello corey, i find greg mcknight very refreshing, breath of fresh air you might say.calls things as he see’s them.i’m a proud member of legisi, making money each day.i think that is the point. wes ” prospector ”
“Sarcastic and Rude”???
Hardly! Sounds like a real PERSON talking in an unguarded manner, using plain language! He also sounds like he really knows what he’s talking about! If you haven’t had any experience with HYIP scams, you can’t appreciate the forthright approach you’re seeing from Mr McKnight.
As for me, I’m getting in NOW!
I have been a member of Legisi since April..always paid on time..referals also.
Greg is a no-nonsense kind of guy.
Personally I like that in an administrator
James
Ahhh… the cavalry has arrived.
Sorry if I sound arrogant or rude. I don’t mean to sound that way.
This is a no BS blog, right? Would rather hear straight talk or BS?
Enrico - profits can be withdrawn or compounded each month. Your principal is returned after the 120 days.
mureese - I really don’t want you to be another victime either. Unfortunately, I will not reveal any member’s earnings or names without permission. I don’t have it so I can’t release that info.
Corey - whether I turn you on or not is your problem not mine.
Wes, David, James - thanks for the kind words guys. Bonuses all around!! (just kidding).
Greg,
l am presently in the 10% program (since Sept 06)
l am trying to accumulate enough ($10,000) to enter the VIP program .5
I’m thinking that about 3 yrs. from now l can have enough return that i can retire on
my question is - in the VIP program can iwithdraw monthly - or do i have to wait one year for the program to cycle ??
thanks
Dave Brubaker
Greg,
Can you give us some examples of how this money is invested? I honestly think that your 10%/mo is really good however you must have found something that yields even more. Without details, I would like to know what that is.
Thanks
Gus
Gus,
I joined Legisi on 11/3/06 with a small loan and then made a much larger loan on 11/20/06. I have not been in long enough to see any interest payments to my account yet but after everything I have read as part of my due diligence I feel this is the opportunity of a life time.
Please find next the answer to your question as to where the money is going. This is straight from Greg McKnight himself that I found on another link:
The VISION of Legisi.com
The key to our long-term success at LEGISI.com is the same as any individual’s for attaining personal wealth - Multiple Streams of Income.
Currently, our funds are at work in the very lucrative FOREX (Foreign Exchange) and COMEX (Commodities Exchange) arenas with a small amount in the Stock Market. Profits from these investments as well as Internet Marketing and Sports Arbitrage Trading activities are used to enhance our program(s) and increase stability for the long term.
Future plans include E-Currency Exchange Services as well as sales of various information and health related products through strategic alliances and partnerships with various marketing concerns. Profits from these activities will increase liquidity and allow for Weekly and, eventually, Daily Payout Plans. But don’t look for ridiculously high, unsustainable rates of return. We will never resort to paying out earnings from “new money” like the filthy scamming HYIPs.
One thing I’m sure you’ve noticed is that I’m willing to identify myself. That’s something none of the scammers will do. If you click on my Contact Us link, you’ll not only know who I am, but where I am and even my phone number. I only take calls within my hours of availability and even then, I get so many calls that it’s very difficult to get through. I’d love to say, “Just leave a message and I’ll get back to you…”, but it isn’t the truth. The truth is that, since I have a life off the telephone and long distance is rather expensive, I don’t return calls. You’ll just have to keep trying until you reach me or send me an e-mail. I do find time to answer most of those within a reasonable amount of time, but if you have several questions, it’s still best to call because I hate typing. Always include your phone number and Login Username (if applicable) in your e-mail “signature”.
Please feel free to explore the various pages of this site. When you’re confident that Legisi.com will meet your passive income needs, click on the Sign Up link at the top of any page. You’re going to be amazed at what Legisi.com can do for you and your family’s financial future.
Thanks,
Greg
Well, we no longer use Sports Arbitrage at all. That was a consideration that was rejected before it started.
We are utilizing several markets. Mostly in currencies, but also oil and precious metals.
Dave - earnings can be withdrawn or compounded monthly. Principal is held for 1 yr. Active members can get answers in our Forum.
Thanks for the response Greg. This is just another reason to be a member of Legisi. The admin is the best and very accessible.
Long life Legisi!!!!
Hi Greg. Would like to know if or when you end this grate opportunity would you be willing to set somone else up with the info to do this again. Being able to make 12.5% compounded monthly is just good to ever go away. If you know other ways to do this it would be grate to get to get in on it. I think alot of us would like that.
ACOONA MATADA (no wories)
hi greg,
I know that e-bullion uses a crypto card to secure the
site which I will be using. do you have any plans to make
that type of security available for your web site or its members.
thank you
ED
Greg says he has pro traders — exactly what is it that he’s trading with “our” money? Are the investments hedged? If he’s investing in junks, that’s easy. If it’s equities, makes me worried for the upcoming inflationary environment we’ll be seeing in the next couple of years.
I went into the DxinOne system with a small amount and am grossly unimpressed. Plus I can’t get a reply from these guys.
Something fishy going on here? I was perusing the Legisi member forum until about a week ago, when it was brought down. Now the Legisi website has a “page not displayed”. Coincidence or likely another scam.
Someone tried to hack into the website and so they took the site down until they get the issues resolved. They were already in the process of making changes to the forum site when this happened. It happened some time Wednesday morning. They hope to have the website back up sometime this weekend and finish changing the forum as well. All members will continue to earn interest on there loans during this time.
https://www.legisi.com will only provide “Page not displayed”, “Unable to connect”, Etc. - browser dependent.
http://www/legisi.com will provide the following text:
“There has been suspicious activity observed within the Legisi server and as an additional security measure, Legisi has temporarily been pulled from the server until everything can be resolved. Accounts are still open, interest is still accruing and accounts are still maturing. The Legisi site should be back up and operational very shortly. Due to the holidays, please be patient as everyone involved tries to balance work and family.”
Legisi forum - Was proactively taken down about a week ago. It was communicated to members prior.
Unfortunately, the only communication provided to members about the main site is what anyone can read as outlined above. I have been able to get in contact with a couple of people on the support side and they have pretty much parroted what’s on the site. I have expressed to them that a more professional approach to communicating with members was in order but I don’t see that happening. I was told to be patient and the site would be back when all issues were resolved. Of course in this arena if something talks like a duck and walks like a duck it will quickly be deemed a duck! People certainly can’t be blamed for coming to that conclusion….
Based on all of my exeriences with Legisi to date I do believe this is just a bump in the road. The front-end is just that - the front-end. The back-end is what generates and/or facilitates the returns and must be protected. As long as the returns continue as promised - and as they have for a full year now - it is worth noting.
Legisi is back up. I don’t know any of you who write on this forum but I do know Greg from other endeavors from my past. If he says he is going to do something he can back it up. I look forward to the upcoming year with Legisi.
I have been looking into the Legisi.com program for the past several weeks, and I have become very interested about it. One nagging question I’ve had, though, while calculating the figures for my deposit, is “Do you have to pay taxes on the returns you receive?”
Also, would anybody advise taking out a loan to make a deposit into the Legisi system. I currently don’t have the funds available to make any decent returns, and I am wondering if there have been others who have pursued this route.
I appreciate the glimmer of hope that Legisi provides in a world full of low-life scammers.
I’ve also been looking for new ideas for passive income and keep coming across legisi. I was recently introduced to dxinone and the idea of affiliate advertising. So far I’ve gone no where with that, but it’s only been a month. I’m also thinking about taking a personal loan and closing out my dx account in order to open and fund a legisi account. In the end I understand it is a risk and nothing is “guaranteed”. However one thing stands out about legisi that I have never come across in any internet money making system before. I’m not talking about the fact that this business has a physical address and working phone number. That should be a given. I’m talking about a consistant stream of positive comments and testamonials across many different sites (including this one) all geared toward a seemingly respected and trustworthy Greg McKnight and a system that is the real deal. I look forward to funding an account and getting started!
As noted above, site and forum are both back up. Need to be an active, funded member to gain access to the forum….
First of all, I am not rich. I am living payday to payday. I am a vietnam veteran and a first Iraq war veteran. I retired from the military in 1998. I have been looking for years for a passive income. I have lost a lot on internet businesses from Amway to ebay and mooree… I am still working and struggling to send my children to college and to make both ends meet. California is an expensive place to live in. I have bought a land at Holiday Island, Arkansa for $20,000.00 cash that is depreciating vise appreciating. I am selling it to invest in “Legisi”. When I learned about “Legisi”, I must have read it 50 times over. On December 15, 2006, I finally decided to open an account with e- bullion as instructed. I gathered all my saving and borrowed money to come up with $10K and deposited it cash to e-bullion. I realized, I needed to invest $10K for the VIP 12.5 % to be compounded 100% . I gathered all my loose coins and sold some of my unwanted items at home and came up with an extra $300.00 cash . I again, I deposited this amount to my e-bullion account for a total of $10,300.00. When my funds cleared at e-bullion, I immediately opened and funded a “Legisi” account for $10,000.00. I had $300.00 cash left in e-bullion and I decided to get an e-bullion “Crypto Card” for about $99.50. I am aggressively re-evaluating my finances to fund my e-bullion to loan more in my “legisi” account. I cancelled all my alligator membership cards. I have complete confidence with “Legisi, LLC. Lately, when the “Legasi” website was temporary closed, I took their explanation in heart. Yes, I concur, there are a lot of “hackers” out there that do not have better things to do than to destroy this great business. I have never met nor talk to Greg Mcnight but I have the greatest respect and confidence with him and his staff. I know they are working hard for for me. I wish Greg Mcknight the best. One day I will personally meet him with my “BIG” check. They have my utmost support and trust. I highly recommend them to my friends, so get in the band wagon and JOIN!!!
respectfully,
George G. Devera
Why did you reject sports arbitrage as a trading strategy?
I was one of the people who signed up with Mazu Publishing for the money trading program. No matter what I tried I couldn’t get enough information to get it going. Every time I almost “got it” the rules were changed & I finally gave up in frustration. I still don’t think it was a scam; I blame myself for not grasping it. However the original expenditures on Mazu do make me hesitate on investing in this.
I sure wish someone could convince me of the fairness & legalities here.
Ken, can go to the forum that Legisi has setup and browse and see what other members are saying regarding the program. Here is the link:
http://legisireserve.com/phpBB2/index.php
Does anyone know if anyone is making money investing in sports arbitrage in a real way ($100,000 plus to trade with)? If so, I’d be happy to pay well for some advice.
email me Ron Weben at americaninvestinggroup@yahoo.com
Greg,
I have two questions.
1) Do you provide a written contract to loaners guaranteeing return of principal? If not, why not? Absent a contract, do you have any legal liability whatsoever to the loaner?
2) Is there an early exit option, and what is the penalty for terminating participation early?
I am surprised that these types of questions are not addressed in your FAQ.
Thanks,
Peter
Peter,
If you read everything on the Legisi website then you know the answer to the first question.
If you want contracts and guarantees then go elsewhere. That is why you get such a great interest rate with Legisi. There is “risk” involved. If you can’t stand the heat then stay out of the kitchen.
As to your second question “under extreme circumstances” Greg has let some people terminate early and there is a 50% penalty.
Greg states all of his rules on the website in plain view.
I have been a member since Nov. ‘06 and am very happy with Legisi as well as many others as you can see there comments in the Legisi forum.
It’s interesting to note how strongly you believe in Legisi since you’ve just joined them only in Nov ‘06.
But that’s the way how it goes when a member influences another.
Hey peter I know a american based company that offers contracts on funds invested email me mureese1@yahoo.com
I have complete trust with Legisi, LLC Staff. My first deposit of $10,000.00 December 19, 2006 was mistakenly placed in Legisi Balance Fund for 120 days at 10%. I just discovered it January 10th on my second deposit of a lower amount. I requested it to be change on VIP Legisi Fund at 12.5% for 360 days from “Legisi Support Branch”. It was done quickly without question. Where else could you get a fast service!! Legisi staff is geared to handle support in the quickest sense with less stress and worry. Keep up the outstanding service. Looking forward to deposit some amount again next month. Greg please commend your Staff for doing such a great job.
I made my first VIP loan to Legisi in August 2006. In Sept. I loaned another 2K to the balanced fund paying 10%. That loan matured last week and I requested a withdrawal of the total amount, $2000 $928 in interest earned. I was notified by e-Bullion a few days ago that they were sending me a check for the full amount minus their fees. I also have another VIP loan and several smaller ones earning interest. I looked all over the internet for anything negative before getting involved and I couldn’t find anything except for one negative comment from someone who obviously wasn’t involved and didn’t have all of the facts. I certainly don’t regret my decision and I totally trust Greg to do his best for all of us.
Bev, I’ve been around much longer than you in the scene. Not that I’m conceited or snobbish (you can see me that way if you wish I wouldn’t care), There’s no facts on what Legisi does, and there’s no way to note whether it’s running any sort of Ponzi.
August 2006? 4 months? Give it max 2 years to go if it’s something like that. If it is not, I’d applaud and give thumbs up to Legisi.
Does the interview tells you anything that Legisi is doing? No.
Jude,
There is all kinds of information on the internet at other sites that talks all about what Greg is doing.
If you don’t want to get involved that is your choice.
There is not another opportunity like this on the internet that I have seen with his track record and length of time.
All Bev and I can tell you is what we have experienced along with others.
It will be your lose not ours if you don’t get involved.
We all know there is risk involved but that is why you receive the tremendous rewards.
Larry, of course I’m not trying to be the bad guy here. Wish you all the best in Legisi and may you earn as much ROI as you can there.
hey jack you should invest with my company, it is here in the U.S. GA to be exact
Do not — Do not give this person your money, you have no legal claim to get it back, will you get a lawyer and start a legal action to get your money back? The amounts most of you are investing is not worht getting a lawyer for. Eventually he will say there is no more in the pot to pay back, and you can be sure that is posckets are lined with you money.
Mazu was nothing and this is the same.
Why E Gold and E Bullion, what is the matter with the US $.
It is a lot easier to work with and accepted all over the world, it is just more BS!!!!!!!!!!!!!!!!
And Mureese, what is the name of your company?
Vanguard Funds? Merrill Lynch? Morgan Stanley?
Bank of America?
What is your record and where are your financial statements?
Jack,
Funny you should mention Vanguard. I think they are as good as you can get for a mutual fund company. However, over the last 13 years I watched my 401K triple and then drop back to almost where it started. It had finally gotten back to where it was when I put it into Legisi but I lost many years of growth. That is certainly no guarrantee either. Also, I started a Roth IRA with them 7 years ago and when I took it out I had earned a whopping $28.00. That’s in 7 years! I’ll take my chances with Legisi and a few other companies that have a good track record. I’d never be able to retire if I left it with a mutual fund. I know many people would never do this and that’s entirely up to them, but I have to try.
From what I’ve read and seen out there, I’d be in the VIP plan in a shot, if I didn’t have to take money out of the Fed to get there. As it is, I’m sorry I didn’t add my “gambling birthday money” to my balanced fund, as I’ve already lost half of it on some of Greg’s lying cheating hyips, and its only two weeks!
I’m hoping to add enough over the next year to get into VIP, but I imagine by time I do, it will be down to 6%. Ces la vie!
I am looking into Legesi too… i’m trying to keep an open mind and look at this objectively.I think alot depends on a person’s level of risk! However, I have noted the excitement of many who have tried this and our benifiting. For those that are worried about their money, investing that is, I have a good approach for you! Mostly likely youv’e already lost money in a internet opp. or the stock market or whatever. The start up ($250) in Legisi is a heck of alot less than lot of things we waste our money on. Yes, you could lose it but highly unlikely.
Suppose you did invest $250, see what happens, test it out. Continue and then when you’ve earned your princple back, take out your $250.00. Now you can leave the rest of $250.00 in and forget it. Now you don’t have anything to lose youv’e got your principal back. Now take your money else where and invest somewhere low risk. Meanwhile, that $250.00 you kept there keeps growing. All you do keep re-loaning it every term. Now I figured it out, if you kept going for 36 months you would make $7700.00 round figures with no principal investment and a little time checking it. Really, you have nothing to lose do you? So okay, let’s say it is corrupt and you lose it all, you’ve lost your interest and are disappointed, but technically it’s not money out of your pocket. On the other hand you may win big! So don’t be to skeptical you can’t judge Greg on the basis of other HYIP investments.
so far from what i’ve read about legis, it’s worth trying it.i am very interested in putting in money in, but does anyone know how how we pay taxes on the interest earnings. do we get a statement from legisi on our interest earnings and file our taxes on it at the end of each fiscal year?
bogs, do you need to pay taxes for loaning people money? Since Legisi claimed that your funds are part of a loan to them. I’m not sure though, just taking a shot.
I think that depends on your countries tax laws. I would guess that it would be considered capital gains but not sure. You should ask your CP Accountant. This company is offshore, probably for good tax reasons. Anybody know??
In the US, interest income is taxable. I believe the tax rate is different than the rate for ordinary income, but I’m not sure; you should check with an accountant. Interest income will be reported to you and the IRS via a 1099-INT form, and will be reported on your tax return by way of Schedule B.
Hope that gives you a little guidance. I’m sure an accountant will have all the particulars for you.
Thanks for sharing with us Chris, appreciate it
Thanks for the feedback guys on interest income thru Legisi. I will surely get my CPA’s input on it. how are you guys doing so far with your HYROL with Legisi?
Chris or somebody. can you tell me if i am doing my calculation correctly here.
example. 10,000 vip fund @ 12.5%. if i decide on cashing out an 11% interest monthly earnings into my account balance & compounding the remaining 1.5%. is my calculation here correct?
Principal monthly payout @ 11% monthly compounding @ 1.5%
1st 10,000.00 1,100.00 150.00
2nd 10,150.00 1,116.50 152.25
Thanks a bunch guys for shedding some light on the interest income. i will surely get my CPA’s input on it. Thanks Chris.
Chris or somebody. can somebody tell me if i am doing the math correctly here?
example. if i open a 10,000 vip fund @ 12.5% and want to collect 11% monthly
deposited into my account balance & leave the 1.5% to compound each month, should the calculation be like this;
Principle mo. int. earned @ 11% compounding Interest @ 1.5%/mo.
1st 10,000.00 1,100.00 150.00
2nd 10,150.00 1,116.5 152.25
You can designate percentages of compounding when you put in your loan, and you can also change the level each month or whatever, as you wish. For instance, if you want to compound 10% on your investment, and take out 90% and you put in 10000, the breakdown would be something like 10000x.125=1250-125(compounded)=1125 returned to you.
Does that help at all? been a long time since I’ve freehanded any arithmetic!
Why do your terms prohibit informers to the IRS, FBI, CIA etc.
What do you have to hide??????
10% compounded monthly give you a yearly return of 150%, there is no legal way that year after year they can generate the amount of money needed to pay out.
Wake up people and see the truth!!!!!!!!!!!
Go to Google Earth and see where they operate from, Podunk!
Just ready their website, it tells you nothng about what they do with your money, just about how they are better and are going to beat the scammers at their game.
Wake up people and see the truth!!!!!!!!!!!
Greg keeps using the words, ARENAS and ARENA, don’t be so trite!!!
They tell you not to contact anyone because their operation in the U.S. is illegal period. The amount of interest they are paying is consider illegal against U.S. Usury Laws. Laws stating the maximum amount of interest a person or company can pay on a loan. The IRS will be all there ass sooner or later because if the people that are lending the money to Legisi Don’t put their interest earnings in their tax return that is illegal as well. The whole operation is no more legit than the illgeal drug industry, anyone caught not paying taxes will suffer as well as legisi it self. most will surely see jail time and heavy fines. But American Investing Group LLC is based in the U.S. and are looking for loans from small investors. taxes are paid IRS is in the loop, SEC is in the loop, state authorities are in the loop at American Investing Group LLC best rate of return 50% a year. its not 10% a month but it is legal and you want go to jail. Go to AmericanInvestingGroup.org or contact me at my office 229-255-7213 office hours M-Sat 10am-6pm EST
mureese,
I was very interested in what you had to say right up until you plugged your motive. If you want to talk about Legisi, then great! Give you input and ideas, reasons for and against. Don’t plug, its cheep and questions your credibility.
Solie The only Credibilty in question here is Legisi. I just spit the truth and showed people were they can get a legit investment from with great returns. Not some illegal Ponzi.
I wld like to know if it’s true that the 10% & 12.5% payments will be reduced to 6%/month in the coming months.
I hope anyone of you cld shed light on this!!!
The interest rates will be reduced shortly, probably within the next month or so, to 6%. The minimum buy in at that time will be $1000, and the term will be 1 year. You will be able to compound any or all of your loan interest, but you will not be able to remove the principal until the end of the term of the loan (1 year).
Regarding the dreaded t word (Taxes) Legisi is an offshore company. If as an honest US citizen, you wish to declare your income, you can do it on a cash basis. In other words, if you are leaving the money in Legisi or in e-gold or e-bullion, you wouldn’t be responsible for reporting interest as income until you took it into your hands (or bank accounts) in US dollars, so if you decided to roll it over for an additional term, the money would never see your hands
If you never take possession of the money, I can’t see that it would ever impact on your personal income (if you donate it, etc).
This is just my opinion and should not be used in substitution of any legal advice from your attorney or accountant.
Good luck to us all! and thanks Greg and the crew!
Michelle or Greg,
If I were to invest now in the VIP program at 12.5%, and soon the rate is lowered to 6%, at the end of the year could I let it continue to roll over at 12.5%, or would it be lowered to 6% for the next year. The web page talks about how much could be earned over a 3 year period, would that be honored, or reduced?
Cliff, I should remind you that if you are going to have any dealings with Legisi that you read his website and the rules of the company. Rule #1, do not use or refer words like “invest” or “taxes and other terms that do not apply to Legisi. There are certain legalities involved. You could/would lose membership possibly. You can use “loan” instead as this is what you are in fact doing with the money you send. This is just a heads up!!
Regards
Dan.
Cliff, I can answer this one. Your VIP loan will continue at 12.5% only through it’s original 12 month period at the end of which you will have the option of taking your principal and interest earned out or reinvesting it for another 12 month period at 6%. Hope that answers your question.
Bev
Thanks Bev, however I think you’re about to get a reminder from Dan to use the word “re-loaning” instead of reinvesting.
What is the source of the information on the interest rate dropping to 6%? I scoured Legisi.com, and found nothing on this at all. I am just about to jump in with my first $10,000.00 for the VIP, as soon as I get my taxes back. If the drop to 6% is legit, when is it going to take effect? I’m hoping I can get my $10,000.00 in at 12.5% BEFORE the drop to 6%.
If the drop to 6% is legit (i.e., Greg has said so), has he said WHY this is happening?
Also, If I put the $10,000.00 into VIP this month (taxes willing!), and choose 100% compounding, will the 12.5% rate apply to the compounded amount as well for the full 12 month term of the VIP loan? Or at such time as the 6% for new loans takes effect, will compounded amounts from that point forward only earn 6% interest per month?
Many Thanks,
–Louis
Not having the time to go in and find it for you right now, it is in the Legisi forum under “Greg’s Corner” I believe. He probably hasn’t updated the website to show it yet. From everything that I have read, everything that you “loan” plus the compounded amounts will continue to grow at 12.5% for the full 12 months.
Cliff - this is why I don’t post much. I’m petrified of slipping up. So what do I do? Time to go back into hiding!
Bev
Sorry Cliff,
I didn’t mean to pick that point out about using certain terms. If was merely to let you know ahead so you could miss the speed traps along the way. But as far as the big change to 6% I am not sure myself yet.I’m still keeping an eye on that topic in the forum!
Best regards,
Dan
Dan
Just teasing, I did appreciate the clarification, it was helpful. Now we just have to get Bev back out of hiding.
One thing is certain is that if they are going to change to 6%, then a person should get as much cash together as possible or a least the min $1000.00.
I think when it changes you’ll only be able to reloan your pricipal amount and interest. I think you will not be allowed to ADD to your fund, just reloan on a 12 mo. term. Do you all have the same understanding of this?
Eg. If you loan a $1000 you can only build on that $1000 and keep rolling back in the interest to reloan.
I still say that you can operate on a “cash basis” and report the income in the timeframe it is received. You don’t report capital gains until you sell your property and receive the profit. This can be treated as a capital gain just as easily as it can be treated as interest income. If there is one advantage you should be able to take away from this its not paying t?xes on it until you’re receiving the money. Very often I will decide when to sell a stock based on my t?x position for that year, and whether I want to offset gains with losses. However, you need someone well versed in dealing with foreign income. I’m going to move to khazakstan and not worry about it! Nah - maybe Montseratt or Nevis
Addendum - per the powers that be, and I quote :
Interest is t?xable when available for withdrawal by the t?xpayer
End quote
I choose to interpret this as being when I have removed it to ebullion and/or egold and am prepared to take possession of it - before then it is not available for withdrawal to me. When one of my stocks declares a dividend in December, its not an event to report, not till I have a check in my hand in January. And that is pretty fundamentally cash basis accounting.
See an accountant all you rich people!!!!
Hi Michelle,
I had 2 long discussions with the IRS about HYIPs/Autosurfs last year. There are 2 types:
1. If the deposit returns in x number of days and it is no longer earning and it is available for withdraw, then the earnings count as taxable. It doesn’t matter whether you withdraw to an ecurrency or make a new deposit with the funds. The shear fact that they are available for withdraw makes them taxable.
2. If the deposit is continuing to earn, then you don’t have to count it as taxes until you actually withdraw it.
In both cases, the deposit offsets the earnings. So you pay taxes on the difference between your out-of-pocket and your gains. In the first type, each deposit is considered out-of-pocket, regardless of whether you spent via an ecurrency or from your account balance.
I hope this helps! Please note that I am NOT a tax consultant in any way and am not responsible for any one using the above advice or not. I am merely reporting what one IRS agent told me a year ago.
JMO,
Sharon
Rico,
My advice is to consult a tax expert. It’s well worth the expense (plus you get to write off the expense on your taxes.) However, the IRS agent told me to report it as miscellaneous… just as if I’d gotten a 1099-MISC form.
JMO,
Sharon
Hi Sharon,
Your conversation with the IRS is not that dis-similar to my opinion
as long as money is kept active in Legisi, its still earning interest.
The problem with taking it as an “event” in your #1 is that the t?x must be paid on that amount prior to your being able to report the re-deposit. When you do report, IRS takes your “in and out” for the difference, not your in and out and back in as far as I see it.
But - Legisi is NOT a hyip and I wonder if it puts us in a different position? Is Legisi a hedge fund?
Since Legisi is not hyip and not a US corporation, why report until such time as you have the cash in hand, (i.e. in e-currency), especially since you will most likely not be able to pay any t?xes until you get the money on such amounts? And if you do take out enough for that instance, you are reducing your interest earning capabilities and thereby lowering your principal in the loan. Also, you are lowering the amount of t?xes that will ultimately be paid, so no one is at an advantage.
The Leopard fund is a pooled fund that IS a US corporation and doesn’t compound, and 1099’s all of its subscribers each and every year - therefore they know exactly where they stand, and actually are RECEIVING the money in the same reportable time frame.
IF the re-deposit is all internalized in Legisi, then I see no reason why you can’t ‘not declare it’ until such time as you pull it out, especially since, as you point out, the situation would be a “wash” in any case as a t?xable event. I can see it on either score working out fine, and still having the supreme impact when you’re taking the money out for use.
The most important thing here is in knowing that you and I and all of us are responsible for t?xes and that we have no intention of not paying them…we’re all just looking for the easiest way, and the most profitable.
No matter what, I would do NOTHING without speaking to a professional tax accountant and/or lawyer familiar with how to handle income from a foreign source.
What we NEED is a good tax accountant who won’t rip us off and is loaning to Legisi, because he/she will have investigated whatever information we need for this. Any takers? Since my VIP doesn’t come due till 2008, I won’t need the help till then or early 2009, in any case, but what about everyone else?
Can anyone give either their contact no.,e-mail add, or address, so that I can call or e-mail somebody, cause I’m about to join LEGISI w/in this week?
I wld like to be sure that this is LEGIT and not a HOAX. Just going to ask some pertinent questions.
THANKS to everybody and do have a great day!!!
e-mail: edited for safety…. you may email Sharon at sharonsopinion@nobshyip.net and I’d be happy to pass it along.
Residence: Quezon City, Philippines
MON FRANCO
Mon,
I just dropped you an email.
HI Mon,
It’s never a good idea to post your email address in a public blog/forum. There are programs that scrape the sites looking for email addresses.
Hi Michelle,
Thank you for stepping up.
JMO,
Sharon
Hi Sharon,
If you lived nearby I’d ask you to lunch
Would be a fun couple of hours of conversation.
Michelle
Hi Michelle,
LOL! I’m always up for a good conversation! Shoot me an email. You never know, we might be neighbors.
- Sharon
hi..
for those who aren’t familiar with the transaction w/legisi, lemme share some firsthand experience - these are the (my) basic steps to start your PERSONAL LOAN to legisi:
1. go to bofa;
2. w/d 10k cash;
3. deposit 10k cash into ebullion acct (a bofa acct is established by goldfinger, inc… so you’re depositing cash directly into their bofa bank acct);
4. fax your cash deposit to eb;
5. eb sends you an email that your acct is funded (1-3days after your fax);
6. open up a legisi acct;
7. do a deposit;
–> legisi website takes you to eb site to do a cash transaction that transfers your 10k cash (e-currency as i had requested to be held in eb) to legisi;
8. 1-3days later, legisi emails you that your acct is funded (it will be reflected in your acct when you logon)
–> depending how you deposited into legisi, it could be sitting in a loan fund or waiting for you to decide what loan fund to put it in.
NOTE for U.S. citizens:
1. nowhere in the above is your SSN required;
2. accts setup are taken at input facevalue;
3. no documentation is required for verification or authentication;
4. this is a personal loan on trust/word only… your only “proof” of this transaction is your trail of emails and website screenshots of your transaction;
QUESTIONS:
can they walk away w/your moeny?
–> i don’t see why not?
is this foolish?
–> only time will tell who’s laughing in the end (hopefully it will be me and not those watching from the outside criticizing on conjecture! :D)
are you liable for taxes?
–> i would assume you are as liable as you are trackable. if i came up to you and gave you $1,000 cash in person, would you report it? ethically and by law you should report it.
–> once it enters your bank acct on a regular basis or lump sum exceeding 10k basis, you will be on documentation w/the irs.
the only thing the irs can track is what you put into your acct exceeding 10k or in a pattern of regular deposits… otherwise you can cash out somewhere else and fly in w/the cash w/o record, i’d imagine.
Regarding the interest decrease to 6%…
Greg posted in the Legisi forums on Jan 7 “To all members…, …in 4 - 6 months, Legisi will become 1 single compounding fund paying 6% per 30 days with a $1000 minimum and a 360-day commitment of principle. There will not be a maximum loan limit.”
No ‘hard date’ has been or will be given for this percentage reduction and all those interested in becoming members should do so ASAP. Legisi has reached total deposits of nearly $55 million (that’s 55 and 6 zeros) and is continuing to grow. Delay to your own peril.
Greg McKnight and Legisi are here for you to trust, (Their office is 10 miles from my house and I have met Greg personally) and you WILL NOT be disappointed. Please e-mail me (Ryan) with any questions or if you would like more information from a Legisi member (although it seems that there are already quite a few members on this forum).
Edited by sharonsopinion to change the email to a link for safety.
I want to believe this, is real? I need this to be real, Is it real? Is everyone to the desperation point of trusting this?
Have been burned so many times before, the scammers take what we don’t have, and give us what we do have skepticism. I want to do this and make this money , extremely desperate, but not willing to throw away the last little bit I have. Came from the very state of Michigan. Lost all my real estate investments, was a house rehabber(A Real One) the kind that did all the work on the Homes. and Need a headstart back to the top. You are all Brave, Help me become brave like all of you! Thanks Mike
To Mike All i can tell you is enter at your own risk. i have given a American investment firm that pays. SEC registered and everything. Dont have to worry about being scammed. You see they keep dropping the rates. They had the rates high to get people to join but as more people join the rate is going down. Kind of backwards to me, i would think the more capital you have the better returns you should be able to earn. But like i said American Based is the way to go in my opinion. You see everyone up here is trying some way to avoid taxes which is a criminal offense. Crime doesnt pay.
Mike, all I can say is the same as we are told by investors, “DON’T INVEST OR RISK MONEY THAT YOU CANT AFFORD TO LOSE!” This is sort of like gambling. I like to listen to the talk of those involved in legisi. Get personal feedback if possible. Get on the Legisi forum and read the comments. I personally have become less afraid but I still am cautious. My suggestion is start at Min amount, hang on till your moneys back then withdraw that amount and reinvest the diff and stay in long term. If you lose down the road, you ‘ll at least break even.
Remember higher risk to get higher returns!
Good Luck!
To Michelle…Is Legisi a hedge fund?”
Simply put, no. A hedge fund is an investment fund similar to a mutual fund that is not publicly available. As no one invests money with Legisi it is NOT a hedge fund.
To Mike,
If you are still in or around Michigan, I invite you and all others interested in Legisi to visit our office. The address is listed on the website or feel free to email me for it. Also, if you are still in the construction trade, Legisi is venturing into the Real-Estate Services arena and is buying/selling/leasing/developing Residential, Commercial, Industrial, and Vacant properties. Please call the office with any questions.
To mureese…”You see they keep dropping the rates.”
Legisi rates have only decreased once. From our initial offering of 15%, to the split-tier ([10%, 120-day term, $250-$9999 loan] [12.5%, 360-day term, $10,000-Unlimited]) system available now. The decrease to 6% has not yet occurred and is only happening so that the amount and longevity of the Legisi fund can continue to grow, benefiting all our current and future members.
mureese…”You see everyone up here is trying some way to avoid taxes which is a criminal offense.”
I have read every post on this page and the entire Legisi Forum and have seen no evidence of, nor advice as to how to, evade paying taxes in ANY country. Legisi Holdings, LLC is NOT an investment company, bank or securities firm. We are not FDIC insured. Every deposit is considered a private loan transaction between Legisi Holdings, LLC and its Members. It’s membership is comprised of people from all over the world. For this reason, each Legisi member is encouraged to meet with a tax professional to ensure compliance with their country’s tax laws.
Please feel free to email me with any further questions or comments.
“Legisi Holdings, LLC is NOT an investment company”
Exactly what i am talking about. You have to be registered with the SEC to take in loans from people in the U.S. also. Not just Investing capital. You Dont have a private placement, in effext with the SEC. In order to sell debt Securities you have to be registered with the SEC. Which means in order to take in loans in the U.S. you have to registered. Which is why Legisi isnt a American Company, but it is still illegal. American Investing Group is SEC registered. It is a Investment Company. totally legit.
“I have read every post on this page and the entire Legisi Forum and have seen no evidence of, nor advice as to how to, evade paying taxes in ANY country.”
“the only thing the irs can track is what you put into your acct exceeding 10k or in a pattern of regular deposits… otherwise you can cash out somewhere else and fly in w/the cash w/o record, i’d imagine.”
Exactly. trying to not pay taxes, taxes should be with held or at least a K-1 issued
bottom line Legisi is illegal. But im not a snitch so do your thing.
mureese…”You have to be registered with the SEC to take in loans from people in the U.S.”
If this were true then any person in the U.S. financing a house or a car would have to register with the SEC.
“Kind of backwards to me, i would think the more capital you have the better returns you should be able to earn.”
This statement shows your ignorance as to how percentage returns actually decrease in relation to the size of an investment fund. I will not take the time to explain it to you as you seem intent only on plugging your company. Have a nice day.
Mike, start with a 250 loan- today, not next week/’month/year, because you’ll be able to lock in 10% a month for 4 months. Now 250 is not a big gamble.
If you have more confidence after getting your interest after 4 months, whether or not you compound, then go in with 1000 at 6% for a year, because it will be down to 6 by then. After than, increase it as you feel comfortable with it and not before. It won’t be as fast, but you won’t feel as desperate either.
just one woman’s opinion!
Hi. My name is Francisco and I am a Legisi member since Jan 2006. I called Greg McKnight twice and he answer the phone both times. I have taken some of my earnings and I can tell you this is real.
The important thing is; “Nothing is 100% sure”, so do not risk what you can’t afford to lose.
My only question is: Will Legisi be here for the next 4 or 5 years? What will happen when they close?
Francisco…”Will Legisi be here for the next 4 or 5 years? What will happen when they close?”
As far as I know, Greg plans to continue Legisi indefinitely and plans are currently being laid that will allow Legisi to live on even after Greg decides to take his well deserved retirement.
Hi Ryan,
I have been a member of Legisi since March 2006. My first esperience we the balanced fund for a period of 90 days. Upon maturity I cashed out and rec’d an e-mail from Greg questioning why. While my funds sat in my e-gold account I made an extra $50 as gold was going up. I deposited the whole amount in Legisi in the VIP fund and have been doing so periodically ever since. I am collecting interest every few days throughout the month either thru withdrawal or adding to my principal. I have never had an occasion to call Greg but I did call the office a few days ago and reached Danielle. Quite pleasant. I drained my brokerage account to fund Legisi and am having a very positive effect. The bank manager at my bank told me all cash deposits of $10,000.00 or over are questional but checks of any amount fly through without question. It was evident of my deposits of thousands of dollars by checks or bank wires never raised any questions.
But I am not an advisor on t?xes.
Ryan, I already know but reassure me that Greg McKnight is for real.
Life is beautiful.
Eddie
I’ve been involved in Legisi for about 5 months now, have a balanced fund loan that matured and have redeposited it into a new balanced fund loan.
I’d like to make a few comments addressing questions/comments above.
Regarding Greg’s reason for lowering the % - my understanding based upon what I read on the forum is that he faced a critical juncture where he was getting close to the limit of the capital with which he could use to generate the returns he was offering. He had measures in place to stop taking deposits and cease compounding at a $50 mil mark. It seemed that the majority of the responses on the forum was that members and/or potential members were either scrambling to get more funds in before the cut-off or hemming and hawing about not being able to get in. Greg then announced early this year that he was considering branching out into other investment vehicles that offered lower returns but it would allow him to continue to accept deposits and allow compounding and would also lighten his stress load citing that the higher risk activities he was participating in to generate the 10-12.5% was taking it’s toll on him and at that rate he would definitely want to retire in 5 years time, however with the new direction it would be a lot less stress and he would probably stay at the helm a lot longer. He also mentioned that he had a daughter or some relative in training to be able to take over in his place if need be. The overwhelming response from the members was one of support and encouragement for the new direction, most stated that it would be far better to be able to continue to deposit and most importantly be able to COMPOUND as that is the biggest effect on earnings in the long haul. After a brief time for consideration, he decided to head off in this direction.
Some of this info is no longer on the forum as a lot was lost when the forum was rebuilt, but I’m sure others can attest that what I’m posting is more or less accurate.
No one else has specifically mentioned this above (Michelle alluded to it), but when the new rates take effect, the new minimum deposit will be $1,000.
In regards to comments from mureese, I disagree with many of them.
There probably is a law that limits how much interest a business that deals with financial instruments can charge or offer, however that limit has to be pretty high. I recently checked out a few “payday loan” programs that will give you a loan today that you pay back with your next paycheck. The rates they charge average about 25% for 2 weeks time which translates to an annualized rate of 650%. I’m trying to figure out how I can invest in their stock or loan them some of my money!
In regards to private loans and transactions of money, the United States of America Constitution Article 1, Section 10, Clause 1 states:
“No State shall enter into any treaty, alliance, or confederation; grant letters of marquee and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.”
Essentially what that means is that government is not allowed to interfere with private contracts such as loans, employment, etc. So there is reasonable basis to believe that Legisi Holdings LLC may in fact be operating within the bounds of the law.
In regards to taxes, statements like: “taxes should be with held or at least a K-1 issued bottom line Legisi is illegal.”; “You see everyone up here is trying some way to avoid taxes which is a criminal offense.”
“are you liable for taxes?
–> i would assume you are as liable as you are trackable. if i came up to you and gave you $1,000 cash in person, would you report it? ethically and by law you should report it.”
We all should be very careful with what we state, especially in regards to taxes. Not all taxes apply to everyone, which includes entities such as LLC. In fact the constitution is very specific in regards to what taxes apply to, and it’s very exclusive, meaning they exclude lots of situations where taxes CANNOT be collected. Situations that I believe many millions of Americans pay taxes on anyway because they have been “trained” to do so. I challenge everyone to research this topic and read the laws very carefully and with a variety of legal dictionaries - you might be very surprised at what you find, I’m currently in the process of doing so and I think it’s mind blowing! Remember, it’s perfectly legal to seek to pay only the taxes which you are legally liable to pay.
Eddie Louvierre…”Ryan, I already know but reassure me that Greg McKnight is for real.”
I can assure you that Greg is as real as you or I as I have known him my entire life. I’m not sure what better proof there is than to call and speak to Greg, Danielle, or myself at our offices here in Flint.
SarahB…
You are a fountain of useful information and I thank you for your post. It seems that you are taking due diligence to another level which is very admirable and an intelligent move on your part.
Any other questions/comments feel free to e-mail me (my address is linked in an above post) and to all a great day and a Blessed Easter weekend.
Also…
SarahB…
As you mentioned, when the interest rate goes down to 6%, the minimum deposit will be $1,000 and the term will be 360-days for all loan amounts. Thank you for bringing that up for clarification.
to SarahB
regaurding the payday loan thing you said. Why do you think most payday companies get shut down, they are illegal in most states. check those sites, if you live in one on the states that is listed they can’t loan you money. its about 30 of them. that should tell you something about the interest rate laws there.
“In regards to private loans and transactions of money, the United States of America Constitution Article 1, Section 10, Clause 1 states:”
all i have to say is call the SEC and see what they have to say. ask them about what is being done here.
(202) 551-6551 give them the exact senario that Legisi is doing. dont take my word for it call them yourself. If they steal your money you have no course of action to take.
and as far as tax go. thats just a tricky subject.
You guys trip me out because you want to believe in this so bad, you would risk heavy fines and possible jail time. like i said call the SEC and see what they say. dont take my word for it.
I have been a member of Legisi since 10/06 and have enjoyed every month when I check my account. (with that said) I am also sad that the plan I had worked out will not take place because of the new soon to be .06% on loan.
The amount that I have with Legisi at 12.5%—I had planned to go four years and would have had $7,954,304.00 but now with the same amount at .06% I will have $718,585.67 that’s a $7,235,718.67 difference. I’m glad that I am retired. It was all for the kids anyway, they will just have to settle for less.
Anyone know how much you can if you are drawing social security? I hear different amounts. Some say $10,000, some say there is NO limit. I would like a straight answer, if anyone knows.
I really believe in Legisi. I like the way they do things. I can really stay calm loaning legisi my money. I used to invest in the market. I have made as much as $45,000 in a day and $223,000 in six weeks. I’ll take the .06% from legisi anytime because you don’t have to do anything for your money.
Frank
I have one or two question;
How long has this scam/great opportunity been available? Earliest contributors to blogs I can find are from approx 10/06 (Frank).
Why do they make such a distinction between Loan and Investment?
(legal loophole presumably)
Does Greg Knight actually exist. I.e. when this all blows up and he tries to do a runner, will he be traceable?
Does Ponzi mean what I think it does. I.e new members money pays for older members returns? Does Legisi fit this model?
I would so love to believe this is credible, but my instincts tell me to be careful.
Mike…
Legisi has been online and accepting members since December 28th 2005.
The distinction between loan and investment is made because this is an HYROL (High-Yield Return On Loan) program and members ONLY LOAN Legisi money. They are repayed the entire principal plus interest at the end of the loan term.
Greg McKnight does exist and has lived in the same county, with the exception of 5 years of Naval service, for his entire life. He is a deacon at his church and has significant ties to the community.
From Wikipedia:
“A Ponzi scheme is a fraudulent investment operation that involves paying abnormally high returns (”profits”) to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business. Named after Charles Ponzi.”
Legisi does not fit this model, as Greg sets aside 10% of his gross-profits monthly to pay the membership in the event of an unforseen down-turn in trade markets. If Legisi were to fail, Greg has contingencies in place to pay out all current and future members what is due them. If Legisi never had another member join, Legisi would be able to go on for at least the term of all outstanding loans, and probably much longer (I’m not a math whiz, this is something much better explained by Greg).
Any other questions/comments feel free to e-mail me (my address is linked in an above post) and to all a great day and a Blessed Easter weekend.
Ryan,
After spending many many hours doing research, I really believe that Legisi is legit and it’s a good company and I would like to join. However, I am wondering why Greg is so reluctant to disclose WHAT he is doing with the money? I really feel that “Investing on the FOREX arena” is not a good enough answer. Or, to rephrase my question, I would like to know what can possibly generate 120% per year return?
Thanks,
Mark.
Greg will not disclose this information because they are proprietary methods he has developed and he doesn’t want everyone to copy his model. Legisi was his idea, and he built it from the ground up. It is possible that if Greg ever decides to close Legisi he may tell people what and how he made his program work. That’s the best answer I can give you, Mark.
If you have any more questions, please email me. Have a nice day.
Hi folks, I am investigating this site for a client.
When it comes to the Forex market average monthly returns of 10% to 20% are commonplace using the correct systems - even Freedomrocks can provide this with no trading experience, but the chance of a monthly withdrawl from FR is slim with the market up and down all the time.
If he is using the services of several traders then each trader should realistically be able to generate a minimum of 5% per month, and this keeps the principal sum intact.
Another factor to consider is that usually around 75 % of people ALWAYS compound due to simple greed so he shouldn’t have to pay out too much in the first month if people request their 10%, and if they do he can just liquidate 1 or 2 lots purchased and have that sent back to him within a few days.
So his system is doable, and actually similar to what I do as an autosurf admin, except that i do not guarantee anythign and I pay our a variable roi - as for this guy - well, as I always say, dont put your life savings into any one program, ai for 3-4 as A MINIMUM….. astool or table can nly be stable with 3-4 legs…. if this is the foundations for your own icnoem you need solid support.
take care..
shaun
For the record, tax evasion is a crime, Tax avoidance is not. Actually, avoiding taxes is encouraged by IRS, but they want you to pay what you cannot avoid. Seems fair to me.
Lets look at some numbers. Loan $250 @ 10% for 4 mos. Take principal and interest, $366, and bump up to $1000 to be invested at 10% thru month 12, if you can do that. Cash out, bump up to next even $1000 and re-loan. After 60 months you have outstanding loan principal of $5,000. Compounded, your receivable is $46,280. Not bad. But, get tax advise for your country. You may have had to pay taxes each year and each year your re-loaned interest could become loaned principal. This just to emphasize the importance of letting tax professionals do the tax work for you. They need the work - that is why tax laws are written in such a way that average Joe can’t keep up.
If I’ve already deposited 3000 in legisi, can I add 7000 to that and get the 12.5% rate, or do I have to make another loan of 10000 to qualify?
Nate,
You will need to deposit another $10000 to get the 12.5%. However, if the $3000 is coming due in the near future I would wait for that and then make the VIP loan, but only if you can do it in the next month or so as we don’t know when the rate will change to 6%.
Bev
Ryan, I was told by the office that they are not going to expand into the real estate arena? I was the rehabber from Michigan who has moved to Florida…… I really want to get into this program also just leary still.. Thanks,
I also e-mailed Ryan about this real estate claim several days ago, and he never replied. So go figure!!!
Wake up and smell a rat!
Why are they dropping the interest rate? Is it because they are gradually running out of fresh deposits to pay the old investors, as any Ponzi scheme does? Anyone who now puts in fresh cash to get it “invested” at 12.5% before in interest rate drops will be in for a rough awakeneing.
Their promise of 12.5% monthly interest on deposits above $10,000 amounts to a promise to more than quadruple your money, year after year.
There are *no* legitimate investment strategies than can *consistenly* generate such returns. If there were, there would be many others out there doing the same and generating similar returns. Nobody would be buying government bonds or using CDs at a few percent annually.
Quadrupling your money in 12 months is not hugely different from doubling your money in 3 months, which is what the original scheme had promised that gave this type of scam its generic name (run by Charles Ponzi in 1920).
Legisi’s existence of a little more than one year without going belly-up is still well within the lifespan of other notorious Ponzi schemes. The original scheme by Charles Ponzi, which promised to double money in half the time as Legisi, lasted about half as long as Legisi has so far. Go figure! The “12DailyPro” scam which promised 44% interest in 12 days lasted 8 months.
People who want something for nothing will fall for guys who give them nothing for something instead. It’s always been that way and Legisi won’t be the last scam that comes along.
i will Amen that Joe
Quote from Mureese “regaurding the payday loan thing you said. Why do you think most payday companies get shut down, they are illegal in most states. check those sites, if you live in one on the states that is listed they can’t loan you money. its about 30 of them. that should tell you something about the interest rate laws there”
Federal laws are different from state laws. Each state is considered a sovereign governing body and are free to issue their own laws as long as they do not conflict with the constitution. The fact that a payday loan operation is illegal in a certain state does not make it illegal in the eyes of the SEC, IRS or other Federal government body.
My understanding is that most payday loan operations are shut down and made illegal due to the strong-arm tactics and harassment of customers who fail to pay according to the terms, not just because they charge high interest rates. There are many such operations in the state of California and most of the ones I see on a regular basis have been around for a number of years.
I am also convinced that governmental agencies do not have the best interests of U.S. Citizens at heart and even if they did, it would still be unlikely that calling them up would result in a legally correct response in regards to the legality of Legisi. A written and signed response by a responsible principle of the SEC and/or IRS would hold much more weight, however from what I’ve learned, obtaining such a document is very difficult if not impossible for the common US citizen.
I’m not claiming to be an expert in anything here and nor am I asserting that Legisi is illegal or legal, just that based on what I have researched thus far, they may have a basis for being a legal operation. I suggest that everyone do their own research into the applicable laws, yea it might seem like a big hassle, but you’ll probably be surprised by what you learn. And the truth is very liberating!
U can think what you want to. But i have spoken with the SEC and gave Legisi’s senerio to them and they said that it was illegal. It doesnt matter what you want to think the fact is it is illegal. I would rather not go to jail or face fines. The SEC said that it is illegal which means it is illegal. It could become legal if Legisi takes the proper steps. its not that hard, my investment company has done it. The way they are operating is illegal because the investor isnt protected. If Legisi loses your money, or even worst just takes your money, there is nothing you can do about it. The Quote unquote company is offshore. You cant go to the police because you were investing in something illegal anyways. Im not saying that Legisi isnt real, all im saying is they operate illegaly. when ever someone invest in anything they should know what the hell they company is doing with their money. If they dont want to tell you why should you trust them, just ask yourself that people. No investing is a secret so if Legisi can do it others should be doing it as well.
hpagan… have some RESPECT for others man!
everyone is entitled to their views
Hpagan must mean stupid. “A blind man will let anyone lead him, because he cant see the path him self” Which mean idiots will fall for anything. There is a sucker born every minute and you must be one of them. Im not bitching or Complaining i was offering my advice. I can easily buy in to legisi but i’m not going to throw away money, thats called being stupid. When Legisi goes Belly up we will speak again, and i dont think “I told You so” will cut it.
personally I am always wary of cheerleaders, but to be fair, I always like to do good research first - I never bought into legisli - its been going too long for my own, personal liking - I might have gotten in at the start though, but not now.
For the record, I have been withdrawing some of my interest for the last few months and I am very close to recouping my original investment. I won’t be heartbroken if Legisi does fail sometime in the next few years as I will have gained far more than I have from any other venture that I’ve tried. And from everything I’ve read elsewhere, Legisi is no more illegal than 99% of the other on-line opportunities. And Greg isn’t stupid. I’m sure he did his research before starting the program. To each his own but I’ll stick with Legisi.
Bev
I’m so often amazed at the venom that is generated on comments by those who aren’t involved in the programs they berate. I am just sorry I didn’t get into this a year earlier - but have no fear of Legisi closing. Legisi will NOT close like a hyip or ponzi. If and when the principals are ready to cease operations, the loaners will be notified and monies will be returned.
Since you who spread your vitriol obviously do not believe this, there is really little to say on the matter. I am not a cheerleader, I’m merely taking advantage of a great opportunity. I’m so amazed by people who will invest in a .5% to 3.5% daily and more hyip and look at this hyrol like there’s something wrong with it!
To each his own, and don’t worry about the loaners to Legisi, even if you do believe they are stupid…they ARE being taken care of, probably better than you.
Hello Everyone,
Stop taking advice from this character:
Link removed, because it is a personal attack and does not serve the purpose of the thread.
LOL
to michelle
I’m so often amazed at the confidence and certainty that is generated by those that are involed in a program just because they got paid a few times. I dont invest in HYIPs either. .5% 3.5% is crazy as well. and they are not being taken care better than me becuase i generate my own returns and dont wait on someone for a Handout.
To Bev
This isnt a questions of are you getting paid or not. this is a question of the legality of Legisi. Im pretty sure people are getting paid, otherwise they wouldnt defend it with there life. I have never once said that Greg is stupid. But there are so many people that try and find another way of doing things instead of doing it the right way which is through the SEC. No matter what this forum of the Legisi website says, it is classified as an investment, and i can guarantee this “LOAN” crap wouldnt hold up in court. The law would look at the transactions between you and legisi as an investment. The bottom line is these are investments and inorder to take peoples money and invest it for them you have to be registered with the SEC. Period!!!!!!
Mureese, I see from all your posts on this particular subject that you use this list to attempt to sell your own product. I’m not sure if its sports arbitrage or what. In November of last year, you actually made an attempt to be polite to Greg, but from then on, all you’ve been doing is telling any and all who would listen to send you private emails as regards your OWN investment opportunity.
Is your personal agenda getting in the way here? I don’t know whether the SEC approves of sports arbitrage or not, and I don’t care. No one is voiciferally condemning what you do. For your information, my interests in Legisi are nothing more than a very very tiny part of my personal assets, and most if not all are SEC registered and approved, but for my house and a few small items. The SEC registered and approved of ENRON and WORLDCOM so please don’t talk about the SEC as the be all and end all of either legality or good business. I can assume that I’ve have made and lost more on SEC registered companies than you probably ever have or will see in your lifetime. I am also in all probability old enough to be your mother.
Its dangerous to pigeonhole anyone, and I wouldn’t dream of assuming that all there is of you is the pushy salesperson I see on here. Obviously those who are involved in Legisi are not asking for your approval, so how about letting it drop?
My personal agenda is not getting in the way here. i can care less if anyone emails me. The question was posed by Peter does Legisi offer Contracts on funds, the answer is no. So i am telling people were they can get a legit investment from thats all. And as far as you lossing more money than i will see in my liftime A big LOL.My money situation is good, i can pretty much buy what ever i want, im not hurting for anything. You are more than likely old enough to be my mother. My investments have nothing to do with sports betting, My investments are risk free and are in the field of real estate, thank you very much, which is very legal.
Im not saying people dont lose money with SEC registered companies, but if the company isnt registered with the SEC it is illegal from the jump, even if they live up to their word.
people can do what the hell ever they want to with their money thats them. I am just voicing my opinion. But people do what they want to do. You guys are just like smokers.LOL You know smoking is bad for you but you do it any way because everyone else does it. LOL You people just follow the trend and has time has proven again and again trends always end.
mureese,
Why do you keep knocking Legisi? Is it because your company American Investment Group LLC isn’t doing that well?
Stop lying to everyone here already and admit your motive.
Link removed. Please stop personal attacks!!
Hello my name is Mureese Hodge
Im a Real Estate Investor in Georgia and I am in need of some extra funds. I am Branching out from my old company to form my own and could really use some help. The money will be used to open my new office. I need to put in $4000 and my partner put in $4000.
HR credit (The reason for the HR credit is when i was 18, a freshman in college i got a credit card with no job. I did what any student would do, run the card up and not have the money to pay for it. The credit card companies prey on us college students, but i am here to prove my credit score wrong and put it back were it should be.) My main reason for this is i plan on starting my own real estate investment company.
——————————————————————————–
Why are we having this guy constantly post? This guys motive is to promote his own company.
All money making opportunities are only as good as the people or person operating them. If a person is honest and does everything he or she says they are going to do then it doesn’t matter whether they are “registered” or not.
The point that you keep missing mureese is that this is not a company that is setup in the USA. Therefore, they do not have to abide by any US security laws.
Everyone involved in Legisi knows and are willing to accept the risks.
LOL Cool Larry. Have a nice time
Well said Larry! This is the point but he’s constantly referering to the SEC and how it’s illegal. Man move on and build up your business and maybe someday we can all invest/loan with you.
Your not going to establish a customer base this way.
LOL
No Luv2hyrol American Investing Group LLC is doing just great. I just secured $1,000,000 in a line of credit thank you very much. I dont need prosper or any other funds as of May 13 becuase i will be closing on that line of credit. LOL Damn you went and google me. I must really be getting to you.LOL I was already making $50,000 a year doing what i do before i started looking for extra capital. I only set American Investing Group LLC up to get more capital because my client list has really out grown my budget. So American Investing Group LLC is doing great baby thanks for asking, as of next month it will be a million dollar company. At least im man enough to use me real name so you can google me, I have nothing to hide. LOL you clowns crack me up. If you can read im not putting Legisi down, i just think they should run this thing with more legality which would make peoples funds a little more secure.
I went on a Cancun trip with approximately 100 over Legisi members and Greg McKnight, Matt Gagnon, and the other Legisi staffs were there with us on the trip.
Greg is for real! He manages brokerage firms that caters to high net worth customers but Greg is helping out the little guys like us by pooling our funds together for these brokerage firms to manage. These commodities, forex, and options trading brokerage firms would not even lift an eyelid at someone who only has $1000 to invest, but Greg with his experience and know-how is helping to pool our money together and then turn around and manage these brokers to earn high yield return on our money.
If Greg is a fraud, I don’t think he’ll be brave enough to mingle with all of us knowing that if he run away with our money, we have pictures and videos of him and he really has no place to hide. He is as legitimate as Warren Buffet.
Legisi will be going private starting June 1st and will not be accepting new members. If you don’t believe, stay out. If you want to believe, all it takes is $1000 to be a member of this soon-to-be private organization.
What’s there to lose other than $1000 and your pride, but there’s all to gain when you can be making $1000 for 12.5% return (try compounding!) for now and soon 6%, which is still doubling your money in a year!
PJ
There is a legal way to do this what Legisi is doing. it called a hedgefund
Mureese,
Show everyone here what you trade/invest as in “PROOF”? Also, provide your credentials. I really don’t think the people here in this forum wouldn’t mind to invest with you. Especially, if you have proof of success. I’m not hearing anyone ramping and raving about how American Investment Company LLC is making everyone money at least not yet.
Remember, anyone with decent line of credit could get a Million dollars.
Obviously, you don’t live in NYC area. That’s normal line of credit to buy any property these days here.
LOL
Love2hyrol, you’re beating a dead horse with this one, he thinks 50k/year is good/big money. He obviously doesn’t know our costs of living, healthcare, food, housing - in fact just existing. To him a million dollar line of credit is big money. Here our umbrella policies are normally 1-5 mil just to protect us from a guy on a banana peel. And we all know a line of credit is not the same as money.
Just another thought, wonder what interest rate that line of credit charges?
PLEASE stop the personal attacks!
We are here to discuss the program and not each other. Attacking each other serves no purpose and it is is just wasting space and the time of those trying to wade through comments to find real information and opinions.
As of now the personal attacks must stop.
Thank you,
Sharon
luv2hyrol see the thing about it i dont buy property which takes out my risk. Im not in the business of buying and selling real estate. I invest in real estate on the financial side.
Michelle I think it is great you think my money is chump change. I live in Georgia $50K a year is doing good here. I dont have heavy exspenses where i live every thing is cheap, but i do come to new york to shop sometimes.
“To him a million dollar line of credit is big money” You damn Right $1,000,000 to a guy that comes from nothing is a hell of a lot of money. I’m glad you are super rich where $1,000,000 means nothing but to regular Americans thats great.
sharonsopinion
You are right. I apoligize for my recent behavior, i was just voicing my opinion on the subject. Sorry to everyone i offended.
Mureese,
I’m glad you’re doing well for yourself! Really! If you’re truly humble about everything in life then my friend you will succeed. I don’t think anyone here is against you or attacking you.
I do believe the American Dream sort of speak still exist. That being said lets share the wealth of information to get there! This is the reason for this forum isn’t it? Whether is Acme, Legisi, etc…others. who cares!
LOL and Enjoy!
Did they change the minimum loan amount? Is it still $250?
If they are closing the doors to new members June 1st, will members be able to make new loans after that date?
Officially starting yesterday April 16th, here are the changes:
Standard Loan Terms
Minimum Loan Principle: $1000
Maximum Loan Principle: unlimited
Loan Term: 4 Months
Monthly Interest Repayment Rate: 10%
Compounding Available: 0 – 100%
Loan principle returned with final interest payment.
VIP Loan Terms
Minimum Loan Principle: $10,000
Maximum Loan Principle: unlimited
Loan Term: 1 Year
Monthly Interest Repayment Rate: 12.5%
Compounding Available: 0 – 100%
Loan principle returned with final interest payment.
You can read all this at www.legisi.com.
As to your 2nd question, existing members before June 1st will still be able to make new loans after that date. It’s only closed to new members.
To clarify:
Joe said:
“Their promise of 12.5% monthly interest on deposits above $10,000 amounts to a promise to more than quadruple your money, year after year.
There are *no* legitimate investment strategies than can *consistenly* generate such returns.”
Once a depositor’s 1 year loan at 12.5% monthly matures, if the maturity date is June 1, 2007 or later, the funds can be reloaned in one year increments at 6% per month. There will be no quadrupling year after year.
Rico
To add, Joe said:
“Quadrupling your money in 12 months is not hugely different from doubling your money in 3 months, which is what the original scheme had promised that gave this type of scam its generic name (run by Charles Ponzi in 1920).”
Well, actually it’s quite different. If you double every 3 months, you achieve a multiple of 16 in 12 months.
Rico
Hey I found a place where you can invest or loan 1,000 and make a million dollars back on your return its called (In your dreams) Hee Hee! just kidding have fun everyone.
Cheers to the free spirits in the legisi family. Legisi is the best out there now.
Let freedom ring. There are always risks with the markets but I like the odds with Legisi. Long live Legisi
Hi
This is my last post.
Legisi will be private June 1
I have met the whole crew including Greg McKnight
I spent a week in Mexico with them and fellow members.
They are the real deal and if you are on the fence on this one..It will be
your loss.
I could not be happier with everything they have done for me.
Knocked off a few years on my retirement date,
Thank you Greg,Moderators,trading team…you are the best!
James
Florida fisherman
Hi.
I was with Greg in his Michigan offices last week. He was so eager to talk to me about anything (mainly Legisi Topics). Now I am sure that this is a great real opportunity.
Thank you Danielle, and thank you Greg for those delicious chocolates. By the way, what is the brand? Maybe I could find some here in Mexico.
Best Regards,
Francisco (Paco)
This is interesting information that I came across on the Legisi thread at scam.com (http://www.scam.com/showthread.php?t=19811). It’s from the Treasury Department…
“In the leading opinion, the Supreme Court of the United States, held that the definition of a security includes an investment contract, which is “a contract, transaction, or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or third party…” Designating such instruments as “loans” does not alter their legal status as securities. SEC v. W.J. Howey Co., et. al, 328 U.S. 293, 66 S. Ct.1100, 90 L.Ed. 1244 (1946).”
- Sharon
yes sharon that is all i have been saying. Not that legisi is a scam but just illegal.
It never seems to amaze me the ignorance. Again, Legisi does not sell or offer securities to members. What Greg and his staff does with our/members loan/loans is his business.
Also, this rule or law only pertains within the U.S. How the U.S. government can hope to hold a company from another country to U.S. laws, or to forbid U.S. citizens from doing business with an offshore company
As you all may be aware Legisi is an offshore company.
Stop trying to re-invent the wheel folks.
This all has been thought out very carefully.
You all are wasting precious energy in doing so.
Invest or loan somewhere else! Move on with your lives folks, no one here is forcing anyone to join Legisi.
HI Luv2hyrol,
It doesn’t matter where a company is located. If they are soliciting for funds and/or accepting funds from US citizens, residing in the US, for a secured interest loan, then they fall within the SEC jurisdication. What the SEC can do is order the company to cease and desist allowing US citizens.
I read where Greg McKnight resides in Michigan and registered Legisi in the West Indies using a Michigan address. That means that he is running it in Michigan.
My source for information is http://www.scam.com/showthread.php?t=19811
You are right that no one is forcing anyone to join Legisi or to not join. What everyone at a blog and/or forum is trying to do is get as much information out so that people can make an informed opinion on where to put their money. Everyone should form their own opinions based on as much information as they can get.
JMO,
Sharon
I am thankful Legisi is going private on June 1st. Once that date gets here, the only forum that would matter to me would be the “actual” Legisi forum, which would be private as well. If people want to come in here, stir up the pot, and make negative remarks about Legisi, let them, as they are entitled to their opinions. After June 1st, all forums, including this one will be absolutely meaningless. Pretty much all the negative comments are from people who are not Legisi members, and have no clue as to what their talking about anyway. So let all the riffraff continue to come in here to get their jollies, as it won’t matter to me at all!!!
Sharon,
Have you ever made a personal loan? or Loan to a family member or a friend?
Who can argue that Greg is not related or friend.
and he’s just borrowing my money. In return he’s paying me a little interest.
How is that illegal.
Nothing more!
No Securities!
well… i have read the entire blog from start to finish and all i can say is “WOW”! fisrt of all why do people keep responding to the same questions over and over? make your point and move on. second use your head if something is to good to be true… third if this is your last dime and ya can’t afford to LOSE it dont take the risk. and lastly don’t put all your eggs in one basket duh. if ya like to gamble go to a casino if you’re bored with a casino and want to play here start small with your “play” money if it works out great and if not don’t be a cry baby just move on. as far as legal or not goes i would think the better question would be moral or not who cares how the profits are made as long as ya get your share unless ofcourse greg is investing in sweatshop or something. look bottom line is this when you take your hard earned money out of the main stream and put it into projects like this remember you will have little recourse to fight back if ya lose but if ya know that going in and you are willing to “PLAY’ around a little with a few bucks i say go for it or put it all on the LIONS to win the super bowl! lol
I have a close friend who has spoke with Greg and has had his acct for about a year now, he has nothing but good things to say. Now that he has tested the water its time to dump some big cash in for a year and quadruple your money. This is a no brainer. I googled Greg and he is the choir leader at his church, he is just like everyone else here, with the exception of having expertise in this field we do not have. I am going in with both feet and not looking back, I have lost millions in a manufacturing business/commercial developing due to a crooked attorney. You can always invest in Walmart stock and wait for the bust which will eventually come. Nothing is for sure except Taxes and Death, I promise you will have both in your life, other than that take opportunity and make the best of it….Oh another option with your money is CD’s you could earn 2.5%……..where to spend it all…hahaha
Anyone interested in some real estate investing can contact me on here I have a niche market in my area, and am needing additional capital to secure a good diversified position, it is a tourist area with lakes, and no inventory of homes or rentals, have a few billionaires capitalizing on the whole deal, they happen to be from the area,one is still investing millions every year, ever heard of Bass Pro Shops? I’ve done the homework on this just needs to be funded properly… just an offer…….have a good night
I have been with legisi since the beginning, have made good money due to being fully compounded,was always paid in time,even when they don’t pay back my principal, I come out ahead :0)
BUT not anymore and support doesn’t respond to my e-mail’s, going private has always beeb the typical trick for going scam
Good luck.
Have been with legisi since the beginning, am in good profit due to compounding at 100 % ,never had any problems until
recently to get my principal back, e-mail’s goes unanswered, they engage
in the typical HYIP tactics of raising minimums to 1000$
New investors should stay on the sidelines.
Good luck.
Steve,
How can you be in good profit when you’re 100% compounding and now you claim that you cannot get your principal out? So basically you are in no profit when you compound @ 100% and you can’t even get your compounded profit out.
So I think the Good Luck ending was really meant for you then.
For some reason, I find it hard to believe your statements. Sorry, no offense. JMHO.
Hi PJ LIM,
Did you notice that INVESTERHYIP and STEVE started exactly with the same opening statements, complaining about the same thing, and then ended with the GOOD LUCK exactly around the same spot?
Hmmmmmm! Coincidence!
GOOD ONE! HAHAHAHAHAHHAHAHHA
Steve = InvestorHYIP ,I think that is clear , LOL, since my first post with my hyip-handle didn’t show up immediately, I posted a second time with my first name (hope the administrator won’t kill me for that:0)
started in december 2005 with 1000 bucks and did 3 consequent cycles compounding all my profits , the last cycle I put in only 400 bucks because we know the longer a hyip lasts the smaller the odds become that it will continue (luckily I was able to control greed !), I was able to withdraw interest but not the principal of the last cycle.
A good advice to anyone, get in early of a HYIP and don’t become too greedy.
Good luck.
Steve,
Which term cycle did you use? 120 days? Did you contact the admin about your principal? When did your last cycle matured? If it matured, then you should’ve withdrawn your principle.
I would like to hear what the Greg/Adminmary had to say.
Thanks,
Luv2loan
I too, would like to know what I replied. I have processed all emails received over the weekend and cannot locate one specifying an unresolved payment issue from a “Steve”.
I have an ogoing correspondence with one “Steve” but as he is inquiring about putting in more funds with Legisi, I have to assume he’s not the correct one.
I had another correspondence with another “Steve” but he too is looking to add funds to an existing matured loan.
So, “Steve”, what is your Legisi username and what email address did you send your request for assistance to?
AdminMary/Legisi Support
I recently placed some funds with Legisi and will see what happens…the money that I loaned was risk capital, meaning that I am prepared to lose it. Companies that register with the SEC don’t guarantee returns. If you give $10,000 to a broker at Merrill Lynch, will he guarantee the return of your principal? If you invest in government bonds, yes. Virtually anything else, then no. Anyone lost money in the stock market? I have - no one will guarantee that. A few people have commented on the fact that there is no legitimate way to earn 12.5% per month, and I can tell you that you are dead wrong. Go down to the Chicago Board of Trade and you will find a few traders that are capable of earning far more than that. Anyone heard of George Soros? Know how much he is worth? Billions. Know how he made it? Trading currencies. My suspicion is that Greg is working with some traders that have come up with a system that provides consistent returns trading currencies, oil, etc. Maybe he came up with the system and they trade it for him…who knows. The point is that there is a risk that market conditions could change in whatever market(s) he is trading and he could blow out, meaning they take some big hits and then fold their tents because the system doesn’t work anymore. This has happened with some hedge funds in the last year of so. Therefore, don’t risk what you can’t lose.
As far as the legality of Legisi, unless mureese is securities attorney, his opinion is only that until it is proven otherwise. Like most government agencies, the SEC will expand their purvue as far as they can to gain power. Recently, the SEC has been very successful with this due to concerns over investors getting screwed by Enron, Worldcom, etc. The only way we will know for sure if Legisi is illegal is if the SEC challenges them and wins. I have talked with Greg a little and he does not come across as an unintelligent individual. I suspect that he did his homework before setting up Legisi and is prepared in the event that the SEC does challenge him. Could he lose? Sure. If he does, are all of us participants going to get fined and go to jail? Get real.
In fact, I’m surprise mureese hasn’t filed a complaint against Legisi already.
We’ll see what happens. In the mean time, I am going to let my interest compound and then take my original loan back out and let the profits run. I’m also going to pay my taxes. If the SEC does investigate, you can bet your ass that the IRS will be in there as well checking to make sure that taxes were paid. And don’t think for a minute that you are not trackable. It is rather difficult to make yourself hidden from the IRS, so if you do want to get fined and do jail time, don’t pay your taxes.
Phil,
You’re the MAN!
Good Luck and Welcome aboard.
Thanks,
LUV2LOAN
Phil i’m not a snitch, my code of ethics has always been death before dishonor. I never said legisi was a scam. i acutally think legisi is one of the best things i have seen over the past 5 years i have been in the HYIP market and i only wish success for everyone. When legisi registers with SEC I plan on investing, but until that day i have to say it is operating illegally not saying its a scam but it is illegal.Kind of like bootleging liquor or movies not bad in anyones eyes but the law. LOL
Mureese,
I say who cares whether Legisi is or isn’t legal. What do you have to lose MONEY? So far it doesn’t seem anyone has had that issue does it. Only play with what you can afford to lose. This is what everyone is simply stating. You think you would get fined and go to jail if Legisi is illegal. I don’t think so. Would you lose your money? Maybe or maybe not? All register SEC companies can be a risk and you could also lose your money. You think that’s legal. Did you not learned this with the likes of WorldCom, Enron,etc?
Who are you kidding? It’s all a gamble!
You’re too funny or just plain ignorant.
Oh, I know!
IT”S ILLEGAL is all you have for an answer.
How many times must we go over this with you.
DAMM! I for got.
It’s ILLEGAL.
LOL
I have a question regarding funding your legisi act. Does e-bullion charge 3% on withdrawls .and if so how much over the amount you deposit to fund legisi do you have to “pay” for the services of e-billion? This has me questioning who is making the real money here!! Thank you for all the other info on this board.
As far as E-Bullion goes, it depends upon your choice of what you choose to buy. I bought E-Currency which has no extra charges to buy. However, if I choose to cash out my account, they will charge 2% (I think) to process the transaction. If you choose E-Gold, you could have fluctuations in gold prices as well as bid/ask issues as well.
As far as the legal/illegal issue goes, we do not know for sure that Legisi is illegal. As I said before mureese’s opinion is just that, an opinion. Currently, hedge funds are not required to register with the SEC. While Legisi does not market itself as a hedge fund, there are some similarities.
Has anybody been to the Legisi office? I think they are in Michigan. I read in another forum that someone drove by their office, but there was no sign at business indentifying Legisi, and the other places of business next to them all had signs. No sign, lowering payout %, and going private? More than enough red flags to stay away from this one.
yes it is true that SEC registered companies loose money. But atleast if they scam you they go to jail for a long time. If legisi scams you no one goes to jail and you are just out your money. If you people arent worried about the legality of earning your money why not sell drugs. All you guys want to do is make money legal or illegal, I hear selling drugs is a very profitable business you should give that a try as well.
LOL
Mureese,
“But atleast if they scam you they go to jail for a long time”
Yeah Right! How many times Companies like the Enron,Worldcom and companies before them, has gotten away with thier scams and stealing honest hard working Americans of thier money?
Be Real my brother!
The SEC means nothing! But hey this is your opinion!
We thank you for making us all aware.
That Legisi is Illegal! And your point is?
Hey Mureese “WE LOVE YOU MAN!”
LOL
Is it a scam when a broker convinces you to buy a pink-sheet stock and then the stock drops to $.01 and you lose your entire investment? I don’t think so…you do your due diligence and make a decision. You make money on some investments and lose it on others. You make money when the winners outnumber the losers. Legisi is no different than a pink-sheet stock as there is extremely limited information available about them.
That being said, could Greg Knight ’scam’ us and run away with all of the cash? Sure he could. Is that likely? No. Possible but not probable. If her were to do something like that, then we would all be scammed an the naysayers would be right. Until that happens, I’ll collect my interest payments and be happy.
I am living in Michigan and I checked out the address of legisi.
Well, I didn’t found any name plate of legisi, furthermore I asked
one guy who works there about legisi , he has never heard of them.
This means there is at least one lie on the website of legisi
“If there is one lie, there are probably more”
I have been reading this forum for quite some time, but have not actually participated until now… Anyway, is anyone in the LEGISI family aware of the recent legal battle surrounding e-gold and omni-pay?
I just received news that the U.S. Department of Justice issued a bench warrant for the largest online transaction service backed by gold. You may see for yourself by going to http://www.usdoj.gov/opa/pr/2007/April/07_crm_301.html
According to a press release, “A federal grand jury in Washington, D.C. has indicted two companies operating a digital currency business and their owners on charges of money laundering, conspiracy, and operating an unlicensed money transmitting business.”
There is a possibility, then, that folks’ e-gold will never be released from e-gold due to the court order. Ultimately e-gold is an entirely USA-based company, owned and operated by US citizens, so, as e-gold users we must respect the decisions of US courts and the US authorities regarding the disposition of e-gold.
Dr. Douglas Jackson, Chairman and Founder of e-gold, speaking on behalf of his fellow Directors and both companies vigorously denies the charges, taking particular exception to the allegations that either company ever turned a blind eye to payments for child pornography or for the sale of stolen identity and credit card information.
Now I realize that this has nothing to do with LEGISI, but there are obviously serious concerns about one’s ability to send and receive funds in this program regarding the federal government’s recent decision.
I sure would appreciate any input from Greg and other folks in the LEGISI family… it appears that e-gold website is still up and running, and many exchangers appear to still be using e-gold, but we obviously don’t know what the future will bring for e-gold. As for e-bullion, they don’t seem to be affected.
The great thing about e-gold is that it is anonymous and the government cannot stick its nose into your business. Of course, that’s why the feds want to shut it down! The U.S government is getting more and more oppressive and is ruining people’s freedom to buy and sell online privately and with ease.
Um, Juan, try clicking on the word “Blog” at the top left corner after you scroll to the top. You’ll find multiple articles on the e-gold subject all with several comments. Read through the articles for at least as far back as Friday.
I hope you find our blog more useful than just this one thread.
JMO,
Shaorn
Right O Sharon! Legisi and EVERYONE in this arena is aware of the situation, unless they have been on a deserted island for the last week or so.
In fact, I’m having problems in other places with using e-bullion as a solution, personally, because the costs of redemption outweigh the profit in those funds.
If you’ll check back Juan, you’ll see Jude informed us all as soon as it hit the fan - in fact, his email is what caught my attention (I was away, just not on a deserted island!).
This whole blog is a fountain of information for anyone who wants to read it, and even though I don’t post in many other places, I’ve been following it for months and am personally grateful for it. You guys (and ladies) are our watchdogs
helping to keep us all out of too much trouble!
I wonder where is Steve=InvestorHYIP? Maybe on a deserted island??
Well, if so maybe he really doesn’t need to get his principal money back anymore since it appears that Legisi admin is taking the extra effort to post here requesting for his response so they can help him with his withdrawal “problem”.
It’s interesting what some people would go to great lengths to discredit others. Jealousy, maybe?
One of the people who signed up under me is already waiting 2 weeks
for her payment. On some message boards I read people are not getting paid too. I hope legisi doesn’t turn out like all the rest when they go private :0((
Katerina.
Remind your friend that Legisi pays interest every 30 days, not daily or weekly.
If her interest payment is over 2 weeks past her 30 days period, she needs to contact support@legisi.com
AdminMary / Legisi Support
HI Luv4legisi,
Oh my, it’s happening already. They have all the classic earmarks of the last signs before they fold. I’ve been warning ever since they made all of their changes, but most are too emotionally attached to see the warning signs. Don’t ever get emotionally attached to a program. People lose more money to complacency, than to any other reason in this industry.
The old saying, “If it ain’t broke, don’t fix it!”, comes to mind when a program starts making major changes. When a program that has the appearance of working fine “as is” makes radical changes, it’s time to pull out ASAP! One or two minor changes only signal a yellow flag. A major change or many minor changes signal a red flag.
Here are the warning signs, for anyone that missed them:
1. Accouncing going private a month or more in advance, which provokes a hurry up and join feeling. It increases membership fast.
2. Increased the minimum deposit significantly, which provokes larger deposits.
3. Changing the ROI/length of term (up or down) or any other major term change and announcing it way in advance, which provokes a hurry up and spend new money to get the current terms.
4. Now we can add delayed payments to the list of warning signs.
It is probably too late, but if you can, get all of your money out now. It’s gone past urgent to get out to immediately. Like I said when they first announced the changes, they aren’t going to last until June 1st, or if they make that date, it won’t be long after.
JMO,
Sharon
I would just like to let everyone know that I just received over 5K from Legisi with no delays whatsoever. I have a feeling something else is holding up this person’s withdrawal. As far as Legisi “folding” before June 1st, I’ll take my chances. I plan to make another VIP loan before then. As for this forum, I won’t be watching it anymore as it’s too negative and depressing. I’ve never seen so many negative comments about Legisi anywhere else on the internet.
Bev
I just had interest post to my account again this morning. All payments have posted exactly at 30 days since I joined in late December. As for the doomsday scenario painted here, I couldn’t disagree more. Legisi is GARGANTUAN in terms of deposits on hand, so they couldn’t possibly keep paying 10-12.5% per month and still remain profitable. And if Mr. McKnight is really planning to run off with our money, he’s got stones the size of Alpha Centauri by meeting face to face with so many members. In fact, that goes for all of the Legisi Admin who also met with over 100 members in Cancun. Sorry, I just don’t buy the cut and run scenario.
Rico
AdminMary has once again step up to the plate. Three cheers to her and Legisi! =)
You absolutely do not need to go this extra mile, but it does show the calibre of the staff that works at Legisi.
If anybody from Legisi is having issues with their account or payment, I don’t understand why they won’t go to the source directly or to the Legisi forum but they post their complains and venting on public forums like this? Hmmmm….
PJ
Oh my, it’s happening already.
It’s Armageddon! Legisi is shutting down June 1st and Greg will disappear? He’s a pretty big guy and almost impossible to do! Joke! I’m glad Sharon could share her opinion with us but remember they’re not the facts.
At least not yet!
I also have money with Legisi but I knew the risk involved from the very beginning!
I will be the first to post here again if and when I don’t receive a payment! Of course, you all may be waiting a very long time for this to ever happen!
Thanks Sharon for your concern!
You are correct that my post is just my opinion, but it’s based on past performance of many closed HYIPs. What is fact is that Legisi is doing 3 of the most common things done within weeks/days of closing. Legisi is going private and cutting the ROI in half and Greg did announce it 2 months in advance. In addition, the minimum deposit was raised to $1K at the same time.
Now there are reports of payment problems. If the payment problems are only some and not all right now, then cherry picking could be an explanation. Again, that is speculation based on everything else that is happening.
Just My Opinion,
Sharon
You know, it’s interesting. This website has given a fantastic service to it’s readers by highlighting some very worthwhile programs such as the following:
Earn By Loaning
Life Holdings
Infinity Shares
These programs, whose combined deposits are a miniscule fraction of the funds in Legisi, all stand to benefit greatly from a strong and successful Legisi. Why? Because at some point, many of the Legisi depositors will want to diversify into other programs as their funds grow larger. This is a point that I believe is being overlooked.
Rico
Quoted from Rico ” Legisi is GARGANTUAN in terms of deposits on hand, so they couldn’t possibly keep paying 10-12.5% per month and still remain profitable.” my question is why? If he can pay 12.5% a month when he only had $200,000 invested shouldn’t he be able to continue to pay the same thing when he has a couple of million invested. i dont think the more money you get the less money you make sounds backwards to me. what ever he was doing to pay you guys 12.5% why not just keep doing it?
mureese,
Nothing is guaranteed! Legisi has been living up to what they’ve promised with those rates but they obviously feel it’s getting harder to achieve such rates going forward for longevity. This is why new and current members don’t mind the change because they’ve proven all the skeptics wrong to this point thus far.
There’s been an increase of new members even with everyones red flag advice. Why? they’re willing to take the risk for the reward and because so far Legisi hasn’t missed a beat paying anyone. If you have a problem with your payment contact AdminMary or Greg.
I’ve been payed ontime everytime.
Remember, only play with MONEY you can afford to lose. PERIOD!
Sharon wrote: “Now there are reports of payment problems…”
Yes, there are “reports”. No substance, but reports. I have asked the ‘reporters’ to contact me specifically and have YET to receive a response from them. Sounds more like folks trying to get extra attention for themselves and add fuel to the Legisi doomsday!
Until these “reports” give specific, researchable information (geez, such as a Legisi username), and given they can’t bother to respond to my posts or to send an email, I don’t understand how anyone with common sense or intelligence can give their posts much validity.
AdminMary/Legisi Support
AdminMary,
I asked her and she told me that she has sent different e-mail’s without
response. She also has problems to log in, sometimes it works,sometimes
it doesn’t ?!
I have been watching this site for quite sometime now and I guess I finallly wanted to toss in my 2 cents.
Let me first start off by saying that I am a proud member of the Legisi family. I joined in January of this year and have been paid on time every time, no if ands or buts.
What I can’t understand from all you people that so negative about Legisi is why? If you don’t want to join that’s your choice, no one is putting a gun to your head. I don’t understand the venom (I Know someone else used that word) that you put in this blog, it doesn’t make any sense to me. DO YOU WANT IT TO FAIL? WILL THAT MAKE YOU HAPPY? WILL THAT MAKE YOU SLEEP BETTER AT NIGHT?
Look, I chose to join Legisi because I knew Greg about 5 years ago and I trusted him then as I trust him and his staff at Legisi now and I have no reason to change.
It’s amazing to me that we as a society can pull together in times of tradgedy (9-11 and Virginia Tech Massacre) just to name a frew, and what gets me is that you same people will root for something to blow up so that you can say “I told you so.” DOES MONEY REALLY MAKE YOU FEEL THAT WAY? I would never root against anything that I’m not invloved with, it just means that I chose not to join whatever group for whatever reason.
People like myself and others that are in Legisi are hard working people who are taking advantage of a great opportunity and no one I know put a gun to my head. So, if you want to go on and continue to put Legisi down and make false statements, well no one can stop you, but I think some of you need to grow up.
Kudos to ADMINMARY for having to defend herself. By the way, she doesn’t need to do that.
Bob S.
Mureese said: “If he can pay 12.5% a month when he only had $200,000 invested shouldn’t he be able to continue to pay the same thing when he has a couple of million invested.”
Mureese, you’d have a point if we were only talking about a couple of million dollars. But Legisi has far more than that under management, although member rules prevent me from ballparking the figure. Large size is a well known and common problem for money managers. When dealing with relatively small amounts up to a few million dollars, the skilled manager can swiftly move in and out of positions and earn outsized returns. However, as funds under management grow beyond these smaller amounts, it becomes increasingly difficult to move money around rapidly. The result is lower returns. This happens time and time again with mutual funds. Some hotshot money manager comes out of the gate with breathtaking returns. Then he is discovered and the funds flow in. Pretty soon, he is earning returns much closer to the average. Legisi is in that type of situation now. In a sense, they’re a victim of their own success in performance and marketing. The interest rate had to come down. It was only a matter of time.
Rico
I hopr you people have a great time investing with Legisi, i really think it is the best thing i have seen. it is good to see such die hard investors standing up for there Investments, I can only hope to have such loyal fans when my client base skyrockets. happy investing everyone
P.S. just know if Legisi falls I will be back to say I told you so. but until that day happy investing.
Yeah, it’s pretty amazing that people keep hoping for Legisi to fail. I wonder if it’s sheer jealousy, are they possibly failing at there own business, so they decide to trash Legisi to make themselves feel better. In any event, it really doesn’t matter. Legisi is the one and only program that I will trust will my funds. I have already made over 10x the amount I had originally deposited with them. After June 1st, there will be no longer be a need to come in here, unless it’s to hear the fence sitters and wannabees whine, claiming that Legisi is still a scam, and to plug there own programs.
Ronnie Shut your Biitch ass up. quit throwing hints and say the name. pusssy .My program is far from failing, i make a decent living doing what i do. I have investors and even if i didnt i would still be good. I started my company with my own money. Man i am sick of you pusssies calling me out. like im poor or something. But not one of you will step to my face with this slick talk so just shut up.
Oh my, how professional of you Mureese. I’m sure everyone will throw millions your way to invest with your real estate ventures. lol There is really nothing left to say about you, except after june 1st, you can come in here to talk and solicit to yourself. Have a nice life!!! LMFAO!!!!!!!!!!!!!!!!!!!!!
i dont need people to throw millions my way. when ever a man is disrespected all professionalism goes out the window. im not ashamed or scared to show people im human. YES I GET MAD, YES I WILL CURSE YOUR ASS OUT, AND YES I WILL BEAT YOUR ASS. only human im not a robot pussy.
Luv4legisi,
Who is “she”? Legisi username?
What email address is she sending support to?
admin@legisi is NOT supported as it gets too much SPAM. support@legisi is me, as well as legisimary@mazu.com. These two emails get responded to daily, sometimes it seems like 24/7!
AdminMary/Legisi Support
luv4legisi or Katerina,
“One of the people who signed up under me is already waiting 2 weeks for her payment”
Better yet! Since your girlfriend signed under you.Why don’t you help Adminmary and give your username. Is it Katerina and/or luv4legisi? I’m sure she will be able find the member or girelfriend who is your referal.
Thanks,
luv2hyrol
Mureese,
It’s obvious your not supported on this forum when I read the counter comments made. You are skeptical, granted. But everyone has the right to make their own choices good or bad in life. If your doing great at your own business then congrats, go on with it…i suggest that instead of trash talking, go mind your business. If we fail at Legisi then we only have ourselves to blame, for that was our choice to loan money not Legisi’s. If in time we fail, then we will learn, be humble and get on with our lives. We are not the “chicken littles” or “the sky is falling” kind of people. I am personally testing out the waters.
Ps. I am wondering If you have ever joined Legisi yourself? If not, then you can only look at it from the outside of the glass looking in. Really then, what can you say about it?
Best Regards!
OK, here is my story : last week I made a 10K deposit with legisi.
the next day I was not able to login to my account
I send different e-mails without getting a response
I called support, said who I was and immediately the connection was
broken, I tried several times but no answer
Greg told me he didn’t want to accept wire transfers (that is the
method I wanted to use to fund my account.)
Now I understand why e-currencies are the nr.1 method for accepting
deposits by scammers
Wished I had come across this page earlier ; STAY AWAY from this
company !
Also notice that support; AdminMary comes here to offer “help” to pretend nothing fishy is going on
Pat.S, are you familiar with the TalkGold Forum? ‘Cause you sure are singing a simular tune as a complaint from “AllanJohnston” who oddly enough disappeared when I pressed him for details.
So, I’ll offer you the same support I offered him. As I currently have NO EMAILS regarding a ‘missing 10000.00′ transfer for a Legisi Member, please send me your Legisi username and transfer details such as:
date of transfer
acct # transferred from
acct # transferred to
transaction number
Or you can simply post this information here in the Blog. None of it is ’sensitive’ information that will open you up to unauthorized access.
I will respond to you (and to this Blog if you’d like) within 1 business day. My emails are support@legisi.com or legisimary@mazu.com
If I do not hear from you directly or via the Blog within lets say 2 days, I will assume you are a figment of someone’s overactive imagination like ‘AllanJohnston’ was in TalkGold.
AdminMary/Legisi Support
Pat.S,
It’s obvious you didn’t read the rules. How is this Legisi fault? This is all on you! You’re wasting their time with your incompetence.
I think Pat is full of BS…just another naysayer. I have called and talked with Greg, never been cutoff. Always able to login to the site. Always get a response to emails.
Ehh, how can it be his/her fault? Pat S deposited with an e-currency, Legisi accepted the $10k and locked the person out. How can that NOT be Legisi’s fault?
Whatever you’re smoking, i want some!
Hey Pat, how about giving us your Legisi user name? We Legisi users can verify other users and see if Pat is legitimate (which I don’t think he/she is).
legisi does not lock out its members and is always responsive either on the phone or via email. Personally, I think Pat is full of BS and is not a Legisi member and just trying to stir the pot here.
And Machenka, FYI, the rules clearly state wire transfers are not accepted. Calling and asking for the rules to be changed does nto work at Legisi or anywhere else for that matter. Try getting your bank to change their rules.
Machenka,
“Greg told me he didn’t want to accept wire transfers (that is the method I wanted to use to fund my account.)”
It appears that he was trying to due a direct wire transfer to Legisi not E-gold or E-bullion.
This is not the method in doing so.
Pat.S, are you familiar with the TalkGold Forum? ‘Cause you sure are singing a simular tune as a complaint from “AllanJohnston” who oddly enough disappeared when I pressed him for details.
So, I’ll offer you the same support I offered him. As I currently have NO EMAILS regarding a ‘missing 10000.00′ transfer for a Legisi Member, please send me your Legisi username and transfer details such as:
date of transfer
acct # transferred from
acct # transferred to
transaction number
Or you can simply post this information here in the Blog. None of it is ’sensitive’ information that will open you up to unauthorized access.
I will respond to you (and to this Blog if you’d like) within 1 business day. My emails are support@legisi.com or legisimary@mazu.com
If I do not hear from you directly or via the Blog within lets say 2 days, I will assume you are a figment of someone’s overactive imagination like ‘AllanJohnston’ was in TalkGold.
Phil & luv2hyrol:
He asked to do a wire transfer and got a “no”. So you believe he hereafter transferred funds to a random account in the world and asked it to be credited to his Legisi account?
Also he states that he NOW understand why e-currencies are being used by scammers (i’m not saying Legisi is a scam) - which clearly shows that he instead of the wire transfer he wanted to make, did an e-currency transfer and hereafter the account disappeared.
I’m sure he’ll get this whole thing sorted, but don’t tell him it’s his fault, thats just retarded. However it seems you both misunderstood his post and thought he made a random wire transfer.
/Machenka
Machenka,
Where in his post does it state that he wired transferred to any e-currency?
“Greg told me he didn’t want to accept wire transfers (that is the method I wanted to use to fund my account.)”
First of all wire transfer is the preferred method to any of the E-currency’s. I highly doubt that Greg would make that statement. Also, if you re-read his post, it sounds like his money got to Legisi and its limbo status. He doesn’t sound like he’s really interested in recovering his 10K. This is the impression I get when I read the end of his post. Anyway, Adminmary is offering her services once again. Lets see how legit Pat.S really is! I hope he and Legisi can resolve his issue.
No, “PatS”, I don’t come here just to offer help and pretend nothing ‘fishy’ is going on. I simply offer to do my job.
As you’ve obviously seen my offer to help, why is it I still haven’t heard from you or why haven’t you posted something account specific (such as your Legisi username) on this blog? You’re obviously monitoring the blog to see what effect your post had, so how about providing the information I requested?
AdminMary/Legisi Support
Mary and everyone else, responding to this garbage just feeds his/her need for attention and controversy. I think he/she is - if not Alan Johnston - a clone, and not worth our time or effort. I do resent anyone maligning Mary who puts up with a lot from all sides, legitimately. She doesn’t need to have this kind of trash thrown her way on a daily basis.
In a way, I’m glad this program is going private.
M
PPPS: 2 Interest payments so far this month, with a third coming next week…
Adminmary ROCKS!
AdminMary, you’ve done way behond what is expected. I don’t think Pat S or Alan Johnston are “legitimate Legisi” members. Any reasonable folks reading these postings should be smart enough to see the truth. They probably are even the same person.
Your efforts are greatly appreciated by those of us who are true “Legisi” members.
Thank you for stepping up, as always.
PJ
After June 1st, all “TRUE” Legisi members will not have to frequent these forums, as they will be meaningless, and we will be private!!!!!!! All the naysayers can continue to come in here, talk to themselves, claim they wired funds to Legisi and were scammed, it’s a scam program, blah, blah, blah, etc. “LOL”,while the “REAL” Legisi members will be profiting each and every month. Greg couldn’t of made a better decision to go private. We need to keep all the undesirables away, and keep our program strong, which of course we will!!!
Why don’t these naysayers get a life! They are either extremely jealous of anyone making money with Legisi, or they don’t have a pot to piss in to place money into the program, so there way of feeling better is to make claims that it’s a scam. lol Downright comical!!!! ‘LOL”!!!!
Have a look at this article before you put 1 cent into legisi
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
I would encourage all Legisi members to refrain from posting in this forum after June 1st. Private means just that, “Private”. The lower profile we all keep, the better off we will be in the long run!!!
Man ….this is exciting…
I have had several accounts with Legisi since August of 06
and have transfered,withdrawn invested,spent,reinvested
and done it all just so I could feel good about Legisi
I have NEVER been disappointed with Legisi.
The money has always arrived on time,the support has been
honest and quick.
I too can’t wait until we go private and enjoy the fruits
of Greg and the staffs work.
In the meantime I am getting up yet another loan
before we close the 12.5% window.
By the way I have lost money in HYIP scams like many of
you, but I feel that there are honest people in the world
who are ready and willing to help others.
As for the naysyaers,I think you guys should go to
Mureese and Invest. WOW………..
I am so G#DAM impressed with his professionalism……
That cnnmoney article is totally baseless!!! Obviously this turd that wrote the article states to due your dd before putting money into these types of things. Well, this schmuck didn’t his do his own dd on Legisi, and see it is the best thing out there. Why doesn’t he go after and smear the true scam programs? You know the ones, they promise 400% after three days crap.
Anyways, I will continue depositing into Legisi, as it’s the real deal!!!!
tk333
“I would encourage all Legisi members to refrain from posting in this forum after June 1st. Private means just that, “Private”. The lower profile we all keep, the better off we will be in the long run!!!”
Practice what you preach my friend.
Don’t let any of these jerks get to you. The article coming out is actually good so others can stay away from legisi.
You might think the article is good because it will actually dissuade potential investors - which is true - but that won’t result in a lower profile because “Answer Guy” himself and Joe Borg (”director of the Alabama Securities Commission and president of the North American Securities Administrators Association, an organization of state and provincial securities regulators”) contacted Michigan’s “Office of Financial and Insurance Services” and “Michigan securities regulators” to notify them about Legisi. Will that result in an investigation, etc.? Maybe, maybe not. But with the dollar figures being thrown around and the offer of “ridiculously high interest rates that you cannot get in any legitimate market” (never mind that that isn’t accurate) now brought to the attention of state regulatory agencies by somewhat higher profile individuals (Borg, anyway, given his credentials), things have never been more likely to take a turn for the worse.
I’m not making any claims about Legisi itself, and am not naysaying it - I have done no research to form an opinion one way or another. All I am saying is what I am sure of, and that is that this article heightens Legisi’s visibility rather than decreases it. And if that’s the case: be very careful. I highly doubt that a determined attempt by the ABC Boys to topple Legisi - or at least cripple it indefinitely - would fail, Nevis LLC or not.
For those who like to play it pretty safe: an unspoken cardinal rule in the world of HYI that rarely sees the light of day needs to be taken out of storage for this occasion. That rule is: If an HYIP in which you participate receives unfavorable coverage in a nationally syndicated magazine column - especially unfavorable coverage that ends with mentioning the author reported the program to the authorities - the time to withdraw your money is *right now*. It doesn’t matter what the proponents of the program are saying or what reassurances they give, because the risk end of the risk:reward ratio just shot through the roof. Yes, it’s possible nothing will happen: but there’s never been a greater risk that something will.
Be careful out there….
andrewunknown
Good luck….
Andrewunknown;
Privacy is what Legisi needs! This doesn’t bother me one bit. Again Legisi is not a bank, does not hold securities and has no investment obligations. We simply agree to loan legisi money, and in return we receive an interest payment for them using our money. I don’t see how this apply’s to Legisi. Am I wrong? Anybody from Legisi want to comment on this suppossed article….?
There is no concern here about Legisi whatsoever. Everything Greg has done, and is doing with the program is 100 % legal and above board. You think that Greg wouldn’t do his homework, have everything thoroughly researched before implementation? If any outside agencies wish to look at Legisi, then let them, as it will be another waste of taxpayer money. At the end of the day, there will be nothing for them to say or do, because this is a legitimate, honest, paying, and “LEGAL” program!!!!!!
Legisi, is PROBABLY legal…there was a US Supreme Court ruling years ago that held that some ‘loans’ were still considered to be investments. I have not read the entire ruling so I cannot speak to the similarities and/or differences with that situation and Legisi, but there is some precedent.
The bigger issue is this: government entities have broad powers to do nasty things like freeze assets whil investigating. The concern here is that if the state of Michigan comes in (or worse, the SEC), they could freeze all assets in Legisi while investigating and or litigating. And that’s bad - no interest, but worse, no access to funds, potentially for years.
We’ll just have to wait and see what happens. If we are lucky, Greg got some indication of the legality of Legisi from the SEC before he started.
WOWOHMYGOD…..
Someone left there HYIP calculaor out and
you got a hold of it………impressive…….
The Forex Market alone handles over 2 TRILLION DOLLARS
EVERY 24 HOURS…now thats MONEY…
obviously you didn’t read about the changes to the Legisi
in June to 6% compounded monthly..thats how he will sleep
and by the way I’ll save you some
time……….. that doubles your loan every 12 months…
OOOOOOOOHHHHHHHHMMMMMMMMYYYYYYYYGGGGGGGGGOOODDDDDDDDD !!
Phil is on to something there. A recurrent point cited in Legisi’s defense is that its “HYROL” structure is legally justificatory. Greg is a pretty smart guy, from what I’ve seen, and so I have no doubt that he has done his homework and feels that this model makes the program ironclad. The word “loan”, though, is an ambiguous thing in this context; it makes a nice and tidy label that seems to indemnify Legisi against accusations of unlawful financial activity, but some - SEC types - might regard all this loan talk as a haze of empty rhetoric intended to obfuscate the illegality (i.e., the HYIP) behind it.
Even if, at the end of the day, a HYROL is permissible by law, that doesn’t mean this program can’t be stopped dead in its tracks while everything about its operations and legal status is sorted out - a process that could take years. Compare this to 12DP: Charis Johnson, a smart woman married to someone working at a corporate accounting firm, thought that 12DP’s activities would stand up to legal scrutiny because members weren’t “investing”, but rather “purchasing advertising”. As someone with a marketing background, she thought this “advertising” spin was sufficient to legitimize the program’s activities, even going so far as to incorporate in North Carolina. She was always at great pains to reinforce that 12DP was not an investment opportunity, a description that many people were inclined toward because it looked, smelled and performed like an investment opportunity. When authorities got wind of the stratospheric returns offered, they swooped in to shut things down on the unsubstantiated presumption that the program was a ponzi scheme with nary a glance at Charis’ conception of what 12DP was. As everyone is aware, the program has been in receivership for about 15 months with no sign real end in sight.
Yes, there are important details that are different with Legisi, but the threat to it is the similar, and that is the point I’m making: federal investigation, frozen assets, endless litigation and so on, all of which could easily be touched off by someone in the right position who simply presumes (proof is unnecessary to begin an investigation, after all) something illegal is going on because they believe Legisi is “offering ridiculously high interest rates that you cannot get in any legitimate market”, which is where wow ohmygod’s naysaying comments come into play.
The Government should just shut down all HYIP’s and forums that support and publicly advertise the offer HYIP’s Autosurf, etc. such as this one and Talkgold. Since most are being mentioned here to promote and advertise the likes of such programs. Why should the government permit the promotion of SCAM in forums as well? Isn’t it where it all starts for everyone? The forums are just as much to blame for all the scammers to promote and to lure members. Also, there are others out there that offer higher rates than Legisi maybe they should start with the highest interest program offered and work downwards.
Complete shutdown Baby!
LOL
wow ohmygod you smell like mureese!!!!!HA!HA!HA!
OMG……
“hey danb, you must take a 4 hour shower when you get home to wash away all that scum all over your body!!”
I DO TAKE 4 HOURS SHOWERS…THAT SCARY…
.HOW DID YOU KNOW..
AND I AM IN A PONZI SCHEME….ITS CALL THE SOCIAL SECURITY
SYSTEM…TRY NOT PAYING INTO THAT ONE….
OMG WROTE
“I love how danb uses the word “loan” in his response. He is obvisouly in on this scam and is probably Greg McKnight himself.”
I JUST CHECKED MY DRIVERS LICENSE AND I AM NOT GREG MCKNIGHT
I WILL SEND YOU MY LINK SO YOU CAN SIGN UP…
C’MON ITS JUST A GRAND……AND WHAT AM I WEARING RIGHT
NOW?????
I HAVE ALWAYS APPRECIATED PEOPLE WHO WANT TO SAVE ME FROM MYSELF……..THANK YOU
OMG
A ponzi scheme is when people have to keep paying into the
system (and bring in new members) so others who have been
in longer can receive funds…..social security is one
such “scheme” since it is underfunded.
What is really interesting is your interest in a program
that you obviously have no interest in……
What is your point? Why did Greg have to borrow money at
210%?
Because it was cheaper than borrowing it at 220%…
I’m off to the shower…….Later
BYE BYE! NAYSAYERS, JUNE 1ST. IS ALMOST HERE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Actually, Greg is pretty darn smart…he borrows money from a bunch of individuals at 10-12.5%/month (soon to change to 6%), uses it to fund a trading system that earns maybe 18-20% per month (maybe more). Gross profit of 5-8% per month. On $100MM (the target amount of Legisi) that’s $5M-$8MM per month gross profit per month. Builds it up to where he does not need to borrow anymore and then pays everyone back and trades for his own account. Of course, this is all contingent upon his trading system continuing to be consistent. Is 18-20% per month possible? Yes it is. I have an account with a CTA trading futures and options on futures that is earning about 10% PER MONTH. As long as their system continues to work, I’ll keep earning. If it blows up, then it won’t. Same risk as Legisi, but different trading methods I’m sure.
If Legisi was a ponzi scheme, it would have been over a long time ago. They started in December of 2005 and there is no way that the influx of new funds could possbile keep up with the payouts.
Now Social Security is a HUGE ponzi scheme. But because it is run by the government, it is perfectly legal. It will run out of money in about 40 years unless it gets a huge influx of cash.
BTW OMG, the proper spelling of quadruple is not spelled ‘quadroople’. You might want to use a spell checker as improper spelling doesn’t make you look too bright. Not that the rest of your positions do either.
NEVER IN HISTORY THERE HAS BEEN A TRADING SYSTEM THAT EARNED 18-20 % on average each month over a 2 year period
If Greg had such an amazing system , why then is he looking for 20$ deposits on the internet ?!
http://web.archive.org/web/20060110091437/http://www.legisi.com/
If he really had such a trading system , his broker would send people his way and by word of mouth he would have in no time millions under management WITHOUT the need for any advertising.
Instead legisi is on all the ponzi aka HYIP forums. What is legisi doing there if it is not a ponzi ?
Why doesn’t he audit his track record and become a CTA so he can attract the BIG money ?
Why doesn’t he accept wire deposits ? (too traceable ?)
“Legisi requests that people lend it money via the Web sites e-gold.com or e-Bullion.com, two Internet payment systems said to be backed by gold. Scammers in the past, said Borg, have requested alternate forms of payment in attempts to avoid mail fraud charges and to make money harder to trace. (On Tuesday, Legisi’s Web site said it was “temporarily” not accepting funds from e-gold.)”
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
Apparently there is a sucker born each minute who falls for this stuff
Futurestrader.
@James
[quote]Legisi will be private June 1
I have met the whole crew including Greg McKnight
I spent a week in Mexico with them and fellow members.
They are the real deal and if you are on the fence on this one..It will be
your loss.[/quote]
I have been caught like this myself James… when someone tells you how good their opportunity is right to your face and smiles, it’s a LOT harder to be distrusting.
“As for the naysayers, I think you guys should go to Mureese and Invest. WOW I am so G#DAMmpressed with his professionalism” First of all let me thank DanB for that promotion I really appreciate that. Man I luv you guys
“wow ohmygod you smell like mureese!!!!!HA!HA!HA!” please guys ok give me some credit no one here smells like me one of a kind. LOL
That CNN article says a lot. Now to totally ignore it would be stupid, even for the people who are totally behind legisi, I know some of you are nervous because of that article.
What makes Legisi’s loans securities is that you guys are lending money to a Business. When ever a person lends money to a business the loan is a security. And the fact that e-gold and e-bullion is used so the money cant be traceable. Now if you guys were lending money to Greg as a person then there would be nothing for the SEC or any other Agency to say. Because the loan wouldn’t be a security but it would be a personal loan. There you have it. But Greg probably is trying to limit his personal assets incase something goes wrong.
So what you guys need to do is tell Greg to take on all the debt as personal debt, then there is nothing to worry about. No one could ever mess with Legisi. But he probably wouldn’t do that because his risk will be too great. Which should tell you something. We will see how Legisi fairs against these new allegations that was published in CNN. So only time will tell.
And to all my adoring fans Dan B, luv2hyol,Dan, Tk333
I love you
Ditto mureese!
__‹^›_‹(ô¿ô)›_‹^›__
LOL!
Okay Mureese. !!! Go back to your “slumlord” business!!! About fell out of my chair laughing when viewing your pathetic site!!! lol Obviously, the slumlord business isn’t as good as it used to be, huh ‘BOY” ? LOL No wonder you spend so much time in here.
I’ve been waiting to post in here until I had answer to some questions regarding Legisi, especially in light of the recent cnn money article. I recently visited the business school at my college, and spoke to a professor who teaches business law. This professor holds a law degree and used to work as an assistant attorney general for the MA States Attorney General’s Office. I provided him with all of legisi’s information so he could give me an opinion on it’s legality.
He reported to me that although he would probably never place any of his own funds into such a program, there appears to be nothing illegal being done with legisi. He feels that the sec would have no jurisdiction, and that the state of michigan would not waste their time with it. He did indicate the state would possibly take a look at it if members were not being paid.
Again, this is only one legal opinion on the matter.
The state of michigan is in such despair in regards to it’s budget. There laying off many state workers, even state police troopers, so I highly doubt they would even remotely consider looking at this, as they could not afford an investigation.
I hope this bit of information helps. Again, it is only an opinion, and as everyone knows, they do vary greatly.
You a believers are as good as the scum that run this scheme, because you are all secondary sellers of this BS product. You have psychological as well as financial connections to this scam. Only morons would give their money to this scam!!!
dalenMA,
Thanks for the Info! Any bit of information is better than nothing….
dalenMA,
Thanks for the info. Very encouraging.
Rico
The only information that you should need is found on the website of legisi.
Hey futurestrader, how could possibly know everything that everyone else in the trading world is doing? You can’t. 18-20% per month is entirely possible with the right system. Will it last forever? No way. Can it go for a few years? It sure could. Many amateur traders try for home runs all of the time. The smart traders (the ones that have been around for awhile) go for consistent singels and doubles and get very rich in the process. I’ve seen it done by a small number of smart traders on the CBOT.
As I mentioned previously, if Legisi was a ponzi scheme, they would have been done long ago. They just don’t take in enough new money to cover all of the old (and new) obligations.
The individuals who have spoken so negatively about Legisi remind me of a blind man who refuses to believe in the color blue because he has never seen it. Those who have spoken against this program only display their ignorance, no matter how loud they shout, how abusive they are, or how shamefully they behave in this forum. The fallacious reasoning of so many of these posts is utterly amazing, such as the phony analogies, ad hominen attacks, and emotive language. Perhaps the Legisi members should save these posts and come back a year from now, and throw them in their faces. Citing the CNN article proves nothing, because it is shot through with inacurracies and misrepresentations. The easiest thing in the world is to find fault with a successful program and be negative. I’m sorry to all of you who suffer from this loser’s mindset.
like i said before TK333, i love you even if you are racist. im use to it, im from Georgia. but i love you any way. but what you say means nothing my slumlord business is doing ok even without 1000 investors but thanks for asking.
To my most adoring fan tk333 i love you and wish you the best.
Nicely said, poleic4truth. I couldn’t agree more. I heard enough yip-yap on this forum….lol…lol. Everyone will miss you Mureese.lol…. Legisi rules…..Ha!
Well Mureese,
I would hardly say that I’m a racist, as I see nothing with the word “Boy”. I use that word all the time, and if you take any sort of offense to it, well too freaking bad. At least I don’t tell people to “shut their bitch asses up, or “call people pussies”, or “threaten to beat peoples’ asses” lol Your ignorance speaks volumes, doesn’t it? Pure ghetto trash!!!
What’s next, having Al Sharpton and Jesse Jackson standing on my front lawn, denouncing what I said? lol I see it now, we need to ban the “B” word! lol
Anyways Mureese, I supposed it’s okay for you to get away with your language in this forum, as your types always get a free pass, don’t they? Anyway’s, I’m done responding to your nonsense, as it’s a complete waste of my time, and your simply not worth it. Later slumlord!!! Hugs, kisses, and bitch slaps!!!
See thats the kind of honkie, trailer park, hill billy stuff im talking about. I love it. its easy to talk shit behind the internet and bogus screen names.
to TK333 my brother from another mother
love ya
I am open to any kind of business opportunity, including that of Mr. Mureese. I am not into namecalling and all that, but my point is, I wish there was more civility in this forum and fairness. I don’t know a thing about Mr. Mureese’s business but I’m not going to call his or anyone else’s business a scam, or call people who participate in his program idiots, morons, or suckers, unless there is concrete proof of that, and I have none, so I am not going to criticize his business. What amazes me is that there are people (”experts”) in this forum who sit in their ivory towers and criticize Legisi without even giving it a try. There are those who call it a scam when they have not offered one iota of concrete evidence, while at the same time, every single legitimate member of Legisi has given positive testimony of its reliability and consistency. There is no substitute for first hand experience, so to all the spectators out there, get in the game first, otherwise, your criticisms and comments are nothing more than hot air.
Hello to all in the forum I have been in Legisi since December. I recently took funds out of the account and last Saturday I recieved a check for my principal and interest. I was so happy; quite skeptical at first, but I did give it a try and so far I am impressed. Having 2 kids at home, you cant help but to think about their future and to try to make it so they never have to worry about money. Now do I think I will get rich off of Legis not necessarily but If I can put money into this system and make a little bit here and there then it is worth a shot. Sometimes one has to think outside of the box. Working 40 to 50 hrs a week is not the life that I really want. One has to keep an open mind. I do realize that there is high risk in programs such as Legisi, however there is risk in mutual funds,(which are not FDIC insured) real estate ventures, trading the market by yourself without proper training and many other things. So I willing to take on some risk to get what I want. Now an overwhelming majority of people have nothing but positive things to say about the program. I have surfed the net for other forums even used my own experience and the consensus is that this is a program worth its weight and gold (no pun intended). So in closing I wish everyone good luck in all theyre ventures even mureese. Mureese I have read your comments and I have considered everything that you are talking about and respect your views; however we all have to make decisions for ourselves. We believe this is a great opportunity. Its our decision and no one elses. So please respect that.
Hello again I just tried to login to Legisi and it wont let me get in. I just emailed Adminmary I’m waiting for her response. I wonder if its because I withdrew my money out recently. I hope they didn’t kick my info out. Besides I wanted go into the forum and get an update on the E-gold situation because They arent accepting any transactions thru egold at this time. If anybody has any info get at me.
thanks polemic4truth i really appreicate that. I never said legisi was a scam. I acutally think legisi is the best thing out right now, and thats for real. I can only hope my company gets as sucessful as Legisi, damn over $50 million under managment thats crazy. I have to give to Greg on that one, im only managing around $100,000 right now. LOL no were near $50 Million but im coming along. I want legisi to last because i think it is the best thing out right now. I think legisi is the best thing scince sliced bread, After june 1 he will be paying 100% a eyar which is twice what i pay. I cant even get at mad at investors for investing, i love it when everyone is doing good
to Rayiota you are right i will not say anymore about it.
“Legisi pays referral fees of 5 percent, but only to members who have invested their own money. “A lot of Ponzi and pyramid schemes will require you to be a member before you can get referral fees,” said Borg. That gives people a greater incentive to keep the scams going, he said: “You’re tied to the organization. Psychologically, you’re part of the group.”"
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
Now I understand the raving,long positive reviews each time somebody posts they got scammed or when negative news hits the wire
Mr. Mureese,
Thanks. I didn’t have you in mind when I was talking about people calling Legisi a scam, and I wish you outstanding success in your business. I respect anyone who genuinely wants to help others prosper with their finances. God bless. And to fellow Legisi members, I wish all you success as well.
Hello all wishing all the mothers a happy mothers day. Hope everyone is doing well with legisi still havent heard back from admin mary, but its the weekend so she will probably get back at me next week I really wanna get back in so I can lock in that 10% before June. Another thing, I know everyone is a big Legisi supporter I know I am I made some good money off of those loans. I have also looked into other programs as well. That might be worth looking into if you are looking to maximize on your money. I’ve been looking at Invest-Manager.com and Opentrade.net. I hear those are pretty good loan programs at this time. Keep in mind I have no affiliation with these 2 programs nor do I have money in them. Gary Jezorski’s Currency Exchange Profit Program has recommended them along with Legisi so I thought I would share that with you if anyone was looking for any other loan programs to supplement the Legisi incomes. As always do your own due diligence. Love to hear what you think about it. Have a Nice Weekend Nice Mothers day etc. Talk to ya later.
Here’s how Legisi works: Paul gives Greg $10,000 on January 1, 2007. Peter gives Greg $10,000 on January 15, 2007. Greg gives Paul 12.5% of Peter’s money on February 1, 2007. Paul now breathes a sigh of relief because he received his “interest” on time and feels confident that this is legitimate. Paul now refers Steve to the program. Steve gives Greg $10,000 on February 15, 2007. Greg gives Paul 5% of Steve’s money for referring him (which will also encourage him to refer others) and gives 12.5% of Steve’s money to pay Peter his monthly “interest” on February 15, 2007. Paul, Peter, and Steve are all happy until the program shuts down on June 1, 2007 and new members can no longer join. Since the new members’ money is being used to pay older members’ “interest,” when new members can no longer join, the older members will not get their money back because Greg robbed Peter to pay Paul and when no more Peters can join, there are going to be a lot of unhappy Pauls.
BE SAFE, BE SMART. PUT YOUR HARD-EARNED MONEY IN AN FDIC-INSURED SAVINGS ACCOUNT WHERE YOU KNOW YOUR MONEY WILL GROW SECURELY AND HONESTLY.
“Ponzi” Schemes
Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi thought he could take advantage of differences between U.S. and foreign currencies used to buy and sell international mail coupons. Ponzi told investors that he could provide a 40% return in just 90 days compared with 5% for bank savings accounts. Ponzi was deluged with funds from investors, taking in $1 million during one three-hour period—and this was 1921! Though a few early investors were paid off to make the scheme look legitimate, an investigation found that Ponzi had only purchased about $30 worth of the international mail coupons.
Decades later, the Ponzi scheme continues to work on the “rob-Peter-to-pay-Paul” principle, as money from new investors is used to pay off earlier investors until the whole scheme collapses.
RayIota has recommended opentrade.net and invest-manager.com. Jude and/or Sharon, care to weigh in on these two programs?
Rico
Let me correct that. RayIota didn’t recommend them but it looking into them. Sorry for the misrepresentation.
Rico
Hey Ponzi, Do you honestly think WE don’t already know what a ponzi scheme is. If you really want to attack a true ponzi in every sense of the word, why not start with the biggest joke out there called Social Security, did you know it’s run by the same government who says ponzi schemes are illegal.
BTW last time I checked, my FDIC insured savings account pays 2% a year, which of course, some years is less than the rate of inflation. I personally use that account as a holding cell until I find better places to invest it, I’d rather stuff my mattress with gold coins than use that account as a place to “securely and honestly grow my money” LOL
Ponzi,
You should run a program since you have it nailed to an art form. Anyway, you really think this is what’s happening with Legisi! How would you be able to pay your members according to your ponzi method with a program going strong for almost 2yrs. and EVERYONE has gotten payed and still paying.
If you can replicate what Greg has done for 2yr. I will be the first to join your program.
LOL
Instead of listening to the people pushing this ponzi on this board, read
what Joe Borg, director of the Alabama Securities Commission and president of the North American Securities Administrators Association has to to say about it :
“This is suspicious, and I’d recommend any investor stay away from it.” He adds, “It has signs of other organizations that have ended up being Ponzi or pyramid schemes.”
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
and the testimonies of people who already got ripped.
just my 2 cents,
Larry.
Larry -
I have yet to find anyone who got ‘ripped’ by Legisi. If you know of someone, maybe you could enlighten us.
Larry,
That article has already been posted here atleast twice so your alittle late on informing us. Also, it does not mention anywhere about testimonies of people who already got ripped.
By the way, in the last paragraph of the article A.G. says “Hey, maybe Legisi.com isn’t like all those other companies that Borg alludes to.”
my 2 cents Larry,
Snake
Ponzi uses his “knowledge” of Ponzi schemes and misapplies it to Legisi. He thinks the referral system is the centerpiece of this program. Personally, I have never referred even one person during the time I have been a member of Legisi: that is NOT what drives it.
In fact, the program is closing voluntarily to new members soon (not shutting down), so if the Ponzi theory is correct, that would spell the end of Legisi. Well, that’s not going to happen.
This is just another example of the “hot air” I was referring to in my previous post. He does not have one scintilla of evidence that Legisi is a Ponzi scheme, but simply announces that it is. But, merely defining a Ponzi scheme is not PROOF that Legisi is one. But because of his preconceptions, he is able with great confidence to tell us what Legisi is all about. Sadly, he really has no idea how the program operates.
Another post cites the CNN article, as if the author of that post is telling Legisi members something new. That article is a pathetic example of sloppy journalism.
Those individuals out there who are reading this forum, just remember the old adage, “the proof of the pudding is the eating.” Do the research, and you will find that Legisi is NOT a Ponzi scheme.
If you listen to Ponzi and put all your hard earned funds into a standard FDIC savings account you will fall behind. You will be safe, and sorry!
THESE PEOPLE ARE A BUNCH OF WHITE COLLAR CRIMINALS !!!
Made a VIP loan and a few days later I was locked out of my account.
Numerous emails went unanswered, when I called them , they simply
hung up on me.
THEY SIMPLY STOLE MY MONEY, I contacted already my lawyer
to be continued..
Now T.J. even i dought this. Admin mary will be on you case soon to straigten this out im sure. I dont even believe you, now thats sad.
T.J they do respond to emails; that I can honestly say. They just responded to mine today. I was locked outta mine They say if you don’t fund your account within 48 hrs they kick you out. That’s probably not your issue but they do respond. Did you call the Holding Company in the West Indies or did you call Greg McKnight? If so when? If you called Greg he’s only in there for 3 hrs out of the day during the week 9am to 12am I believe. I cant speak for the call center in the West Indies. I do know that they will get back with you especially AdminMary. I know it doesn’t help but from my experience they will pay you. So keep trying.
T.J. let me introduce you to Pat S. and his ‘claims’:
Pat.S
May 7th, 2007 at 11:25 am
OK, here is my story : last week I made a 10K deposit with legisi.
the next day I was not able to login to my account
I send different e-mails without getting a response
I called support, said who I was and immediately the connection was
broken, I tried several times but no answer
Greg told me he didn’t want to accept wire transfers (that is the
method I wanted to use to fund my account.)
Now I understand why e-currencies are the nr.1 method for accepting
deposits by scammers
Wished I had come across this page earlier ; STAY AWAY from this
company !
If you’re not one and the same, I offer you the same assistance I did Pat S., specifically provide me with your Legisi username and I will research your account within 1 business day. Otherwise, quit wasting everyone’s time with your posts.
” Legisi demands that account holders promise they are not an informant or associated with such government organizations as the IRS, FBI, CIA or “The Intelligence Services of Great Britain.” Such requests, said Borg, are common to international “prime bank” and foreign currency exchange schemes. “It’s done to psychologically intimidate folks into thinking they have some liability if they complain to authorities, under the theory they could be sued for damages,” said Borg. “As a practical matter, that never happens.”
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
I am interested in this investment but what I find suspicious is their user terms, why don’t they don’t want informants as clients when they are not doing anything illegal ?! Do they have something to hide ?
Bobby,
From Fidelity:
MUTUAL FUNDS AND VARIABLE ANNUITIES
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Variable annuity values and investment returns will fluctuate and you may have a gain or loss when money is withdrawn. Taxable amounts withdrawn prior to age 59½ may be subject to a 10% IRS penalty tax.
Yeah! Like this is any safer……
Actually, it is safer. Past performance gives some indication of the risk tolerance for which something is geared - in the case of what you’ve referenced, conservative. This gives an indication of asset allocation, which in this case is likewise conservative. Legisi’s advertised returns (even 6%/mo.) are in no way conservative (for one thing, Fidelity makes no intimation of future results) vis-a-vis Fidelity’s offerings in those categories.
There is a, believe it or not, a difference between a global investment megalith’s legal disclaimer and the stipulation that a member not be an informant for a government agency by a secretive rogue investment program.
andrewunkown,
I gather you will not join Legisi correct? If so, then it’s obvious it’s not for you. Good luck to your success….I’ve made my decision and will keep it.
I only play with what I can afford to LOSE and so far I’ve only GAINED from Legisi.
In other words…your opinion doesn’t mean a thing…at least to me.
LOL.
Bobby said,
“I am interested in this investment but what I find suspicious is their user terms, why don’t they don’t want informants as clients when they are not doing anything illegal ?! Do they have something to hide ?”
Only Greg McKnight knows the true answer, but I think there’s a “witch hunt” principle at work here.
Rico
You poor suckers.
You invest in Legisi and you know exactly nothing about the principals and their experience. Why don’t you get a resume from King McKnight. Ask for the Legisi funds income statement and balance sheets. Why would you trust someone with your money without these things????????
Even the huge hedge funds with billions of $ and rocket scientists at work could not match King McKnight. And they are no phonies, there resumes, income statements and balance sheets are available.
Poor suckers!
riprap,
These “unknowns” are part of the risk that constitutes such a venture. But you are getting paid handsomely to take that risk.
Rico
PS: You can’t earn this kind of return with billions of $!
One day you guys will learn.
If I “will not join Legisi”, then, yes: “it’s obvious it’s not for” me. Congratulations on that logical masterstroke. I won’t join Legisi, although I gave it some thought a little while after the program began, and do still regard it as among one of the better opps out there right now, mainstream media notoriety and a few other notable reasons aside (not including the reasonable rate of return). These reasons, taken together, are a bit too much to make Legisi worth the risk. But, I stopped making new investments in HYIPs last year, so I wouldn’t invest even if it I wasn’t risk-averse here.
As for your thoughts on my opinion: it’s immaterial whether my opinion means anything to you or not. In fact, I’m not sure how your subjective appraisal of my opinion enters this discussion. Whether or not you care is also irrelevant, because my response to your comment was intended to offset it for a reader such as Bobby, not supply you with the details of my opinion on the matter.
I stated, in so many words, that mutual funds, money market funds, variable annuities, etc. with Fidelity are “safer” than Legisi, even though they aren’t FDIC-insured and are accompanied by the risk of loss caveat/disclaimer. That is simply a description of the truth, and there are very few - if any - outside of Legisi that would contest it. The same goes for the question of whether Fidelity’s disclaimer brings its offerings to parity with Legisi’s and the accompanying “no government informant” clause. Pretty much any man on the street would answer “no”, whether it be an actual man on an actual street or a poll on a message board at an HYIP forum where there is no real bias for or against Legisi. Whether that matters to you is of little significance. What matters is that it serves to counter the ridiculous argument that Legisi is no more risky than a fund at Fidelity.
riprap,
You must be a FINANCIAL ADVISOR and your obviously here to give us POOR SUCKERS advice on investing. Can you throw us POOR SUCKERS a bone and give us your advice/recommendation on exactly how we should invest.
I guess I must be hurting since I’ve been throwing my money away with Legisi. You guys don’t seem to get it! I can AFFORD to use or waste my money as I choose.
So far it has been rewarding for me. So take your opinion and shove it where the SUN doesn’t shine. In case you didn’t understand my last statement!
Shove it up you A$$.
LOL
Finally im finished reading this from top to bottom and has taken me well over an hour and half, but most certainly time well spent.
I have looked into this all over the internet and have not found one negative comment, not one, from a legisi member.
Unlike some i dont have a large sum of money but far more than what i need to live off, so it only makes sense to loan it, and this seems to be the best ive cum across.
I really would like to join before the 1st of june however if a member who has loaned money to legisi would like to please get in touch wit me, my email being chabz@hotmail.co.uk it would be greatly appreciated.
Many thanx
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
Why Greg doesn’t want to be interviewed ? It would be the best free advertising !
about 4 people on this forum alone who got creamed
I’ve spent a couple of hours reading this thread and I’m still not certain of the legitimacy of this offering. I do however have a few facts and opinions. I was a commodity futures trader for a few years and can attest to the ability of some good traders making ridiculous returns. I worked as a day trader and often had days where we 4-6% returns/day. We also had days where we lost 3-4%. Our whole program was designed to maximize our wins and minimize our losses. In the end we wound up roughly 20%/month to the positive. We were only trading a few contracts and were able to get in and out of the market quickly and at the desired price. It’s very easy to buy or sell a few contracts. The challenge comes as the number of contracts traded goes up. If you’re trying to move 5000 contracts they would probably get filled at many different prices. As more contracts get put on the market the prices change. For example, If I had 5000 contracts for Treasury Bonds that I would like to sell for the equivalent of a 6% return, I’d place the order to do so and they would become available to offset orders to buy at 6%. If there are not 5000 orders to buy at 6% then orders to buy at the next level, let’s say 6.125% would kick in and would continue to climb the interest rate ladder until all the contracts were sold. This results in much less profit than anticipated. whereas dealing with a few contracts would yield 20%/month, dealing with more might only yield 10%. There is a threshhold that produces diminishing returns once it is passed in this type of investing where timing and limited participation effect the return. In a stock market or mutual fund based investment the amount of money is virtually unlimited. There is always another stock or bond to buy even if the quality, safety or return drops. It’s a much bigger pond to play in. High returns are not the norm. There are only so many of them and it appears Legisi is reaching the limit of manageability at $55 million. Reducing the return as more funds come in is natural in these curcumstances. That would be the only way to still provide an above average return to the committed investors. Unfortunately that also is what happens when a company runs out of money to pay it’s commitments. There is no way to avoid this coincidence. People do this all the time on a much smaller scale in investment clubs. They pool their money and use their combined knowledge and resources to maximize their return. On a larger scale such as this it is impractical to have thousands of people providing their input on investing decisions so they are instead given the opportunity to participate by loaning their money for a set interest rate that far exceeds what is typically available. In return Legisi has to invest in vehicles that produce a higher return than they pay. The SEC would consider shares in an investment group as securities and they would fall under their rules and regulations. Loans on the other hand are in a different catagory. The offshore location helps to provide a barrier between the company and the SEC and other federal entities. It also prevents any form of legal recourse which brings up my biggest question. Why doesn’t Legisi provide a promissory note with every loan saying they will pay X amount at a particular time?
I have lot of money in www.globalonlinedirect.net , a loan program like legisi
since 2 months the SEC has freezed the account
I can’t get my money back , I have little money in legisi, hope no freeze :0(
http://www.sec.gov/litigation/complaints/2007/comp20073.pdf
Frixie,
“about 4 people on this forum alone who got creamed”
Nicely put! It really turns me on.
And you really care? Obviously, you did see AdminMary’s offer to assist the 4 people you’re referring to. Right? Did any of them reach out to her? I don’t think so!
People have the right to make their decisions everyday. Whether, it’s about life style changes and of course “MONEY”. Right! Example: Look what you did this morning. You got up and the first thing was to post in this sorry A$$ forum to give your opinion and especially to provide us this ridiculous link. Old news by the way! But your have every right to do so! Would it have made a difference if I told you not to post here this morning? I don’t think so! Right! You made your decision not a wise one but made one.
So, let everyone else do their thing……..
What will all of you say when these people are no longer transparent but invisable?
The people running legisi are low class or no class people.
The website is a cheap one, just appealing to greedy people.
Riffraff what do you have your money in? You seem to have all of the answers on how to make money. Since you re so high class you gotta be making money. Please tell us your ideas help us low lifes get to where you are. Oh wait never mind, that would be bringing us down. Sorry Legisi is not for you. So what if it does shut down or lower its interest rate. In the end I would have still would have made substantially more than I lost. So you can call us poor suckers all you want. “One day we’ll learn but till then we’ll still be getting money laughing straight to the bank while you sit there at your 9 to 5 bitching and moaning about your pathetic life. What will you say then?
riprap,
Wouldn’t you prefer to have a cheap website in return for a nice return in your pocket? I do! and it does
“The people running legisi are low class or no class people.”
So, I gather you know these people personally? The only low class people are those who have negative comments about Legisi. Otherwise, you wouldn’t bother to post such negative comments while it’s producing money for others and helping those in need. Why does this bother the most of you that people actually getting paid? Are you afraid you missed the boat? So you’re trying everything possible to bring Legisi down! If you’re really want to help others! Why don’t you begin here and leave everyone alone! But no! You actually prefer that the US Government seizes honest people money. All this, so you and everyone else can comment “I TOLD YOU SO”
I’m sure those in Legisi would appreciate your help for assisting the authorities.
I guess this will make you sleep better at night!
God bless you!
legisi has supposedly +50 million under management but they are running a free,ordinary forum on
www.phpbb.com LOL :0)
http://legisireserve.com/phpBB2/index.php
Dimitri,
No comparison! Good try……what’s your handle at the Legisi forum?
I can PM you there….and explain.
LOL.
You have to love all the fence sitters and their half-ass attempts to trash Legisi. I only have two referrals that have loaned under my link. One is a friend of mine from childhood, and the other one is a friend of my brother, who happens to be a Tax Attorney. He did take a few weeks to thoroughly go over the program, research all case law pertaining to loaning, SEC, etc., and found nothing illegal whatsoever with the program. That has convinced me to do one more big $$$$$ loan before June 1st. Legisi is the best!!!
BobbyC, is your brother’s friend willing to talk to us sometime after we’re private, for a little unofficial guidance?
If nothing more, I’d love to know who/where to go to here to get whatever help will be needed when cashing in our loans.
My brother, the lawyer, with tax/estate training, believes in nothing and might have the name Mureese tatooed on his arse
chang,
“legisi has supposedly 50 million under management but they are running a free,ordinary forum on
www.phpbb.com LOL”
Wow! And your point is? Why would you spend money on any forum when you can get it for free?
I tell you the ignorance…..
Dogman, you are telling the truth.
I could not agree more.
Michelle why you coming fucking with me, i have nothing to say about it anymore. I wish everyone the best. Just keep my name off your keyboard.
Dogman
My company is in these forums and is in no way a ponzi.
Mureese,
Your company I can’t find back in the HYIP folders of TG or MMG, legisi
is there.
You take wire transfers and checks, unlike legisi.
You are registered with the SEC and licensed, legisi isn’t
I am sure you are one of the exceptions, no offense intended.
If I was in your place , I wouldn’t post here, your name gets connected
with this ponzi called legisi.
Best.
dogman et al:
I understand that those are the steps that
would indicate a ponzi.
I have been associated with a few and have researched many
more.
Actually,I have never seen one fail that gives
the members full access to their home addresses.
I have addresses for the admin group in Legisi.
I researched where Greg McKnight lives,where his offices
are where he worked before,what his wifes name is,when they
were married what the value of his house is, what town he
resides in,how long at this address,who registered
his Legisi site, the date of that registration how long
the registraton is for I have researched it all.I do that
before I do any loaning or investing…
When I don’t I get cheated
I have been in for almost a year and I don’t know of
anyone that has not received their payments on time.
I have had 6 accounts varying from $300.00 to $10000.00
and have never been shorted,cheated or received a late
interest deposit,NEVER.. and that goes for the dozens of
people whom I have signed up.
The last one I got ripped off on was E.U.Trade.
Before I got screwed they were offering access to a Hedge
fund account that would have paid me over 200% over a few
months for a $2000.00 min. investment.
I didn’t bite because I knew that the thing would go bust
but I heard that they had over 600 people participate…..
Two weeks later they were gone.
You don’t get people interested by telling them that you
are going to cut the payout by more than half!!
Thats just being honest…
When I first started I received 15%.
Then it went down to 12.5 and 10.0%
Now it is going to be 6%..
They have always been upfront with their explanations for
changes.I know that a payout of 15% compounded 100% can’t
hold up…But until they changed it I received just what
they had promised each and every time
As for delayed payments,I have yet to hear from one person
who would VERIFY a delayed payment…..I would be
screaming from the Mountaintop if I got screwed but where
are these people………WHY?
because it hasn’t happened.
There are plenty of HYIP’s to get screwed in…….
This just isn’t one of them.
May all of you Legisi members be as excted as I am
about “going private”.
As for me I am going undergroung early………..Goodbye
DanB, I couldn’t agree more. I cannot wait for us to go private!!! I have also thoroughly investigated Greg, and have visited their offices. I find him to be a man of great integrity, and wouldn’t place one cent of my funds with anyone else. It’s rather amazing the amounts of jealousy displayed in here, just because others either don’t have money to place into Legisi, or simply don’t have the balls to do so. Everything in life has some degree if risk. With Legisi, I find the risk to be rather minimal, and since I am already significantly in profit with the program, I am really risking nothing by letting everything else ride.
I also find it interesting that the naysayers would continue to trash a program that has an outstanding track record, and has paid all members 100%. Yes there are a few exceptions, well, imaginary ones. You know, the dipshits that claim that Legisi has not paid them, then when AdminMary makes attempts to help, and requests their information to look up their account, how quickly they run and hide like the little bitches they truly are. Well, there is really nothing more to say about these lost souls, since they really don’t have a life, a clue, or anything of great importance.
KevinFL,
Nicely put my friend……
Oh! I forgot I got paid yesterday and today…….and waiting for another next week.
God Damm! It feels good!
LOL
Mureese,
I don’t find you back in the HYIP folder of TG unlike legisi.
You accept checks and wire transfers unlike legisi that only deals in low
traceable e-currencies.
You are registered with the SEC and licensed unlike legisi that hides behind
a company in Nevis, if you want to sue a company in Nevis , you have to
deposit 25000$ first, the majority of e-currency accounts are small fish
who don’t have the 25000$.
Look at the history of legisi ; on 18 january 2006 they have a maximum
deposit of 100000$
http://web.archive.org/web/20060118044715/http://www.legisi.com/
Why does a legit company that is just starting out limits the max deposit ????!!!!!
on 26 january the maximum deposit is lowered to 10000$
http://web.archive.org/web/20060126203123/http://www.legisi.com/
AND NOW there is NO MAXIMUM deposit > unlimited
THIS IS THE BEST PROVE THAT legisi IS A PONZI !!!!!!!!
Most other ponzi’s work with a similar structure.
Legisi started out by accepting 20$ deposits and has increased every
time the minimum AND the terms of it’s loans > TYPICAL PONZI
Now they have no maximum because they are going private = run of
with the money of the last “investors” = suckers
If I was in your place I would not post here because you get associated
with a ponzi.
Ah, you see the negative news is followed by 2 long reviews of the
administrator….euh…..investors :0)))))))
Best Regards.
Mureese,
I don’t find you back in the HYIP folder of TG unlike legisi.
You accept checks and wire transfers unlike legisi that only
deals in low
traceable e-currencies.
You are registered with the SEC and licensed unlike legisi that
hides behind
a company in Nevis, if you want to sue a company in Nevis , you
have to
deposit 25000$ first, the majority of e-currency accounts are
small fish
who don’t have the 25000$.
Look at the history of legisi ; on 18 january 2006 they have a
maximum
deposit of 100000$
http://web.archive.org/web/20060118044715/http://www.legisi.com/
Why does a legit company that is just starting out limits the
max deposit ????!!!!!
on 26 january the maximum deposit is lowered to 10000$
http://web.archive.org/web/20060126203123/http://www.legisi.com/
AND NOW there is NO MAXIMUM deposit > unlimited
THIS IS THE BEST PROVE THAT legisi IS A PONZI !!!!!!!!
Most other ponzi’s work with a similar structure.
Legisi started out by accepting 20$ deposits and has increased
every
time the minimum AND the terms of it’s loans > TYPICAL PONZI
Now they have no maximum because they are going private = run of
with the money of the last “investors” = suckers
If I was in your place I would not post here because you get
associated
with a ponzi.
Ah, you see the negative news is followed by 2 long reviews of
the
administrator….euh…..investors :0)))))))
Best Regards.
thanks dogman
DogMan,
Now that you got all of this off your chest. Can you move on now and find something better to do with your life. Man, you must be bored! Get a life you piece of $hit. Who cares what you think I certainly don’t. If Legisi is a Ponzi! Then I’m certainly taking advantage of the situation and making money. I haven’t loss a dime yet! I’m in the GREEN A$$ face!
LOL
I may have misgivings about the long-term viability of this program (or any program, for that matter), but there’s a wide gap between something like my take on it and the ill-founded “a, b, and c prove it’s a ponzi!” conclusions reached by Dogman.
I am very much into profit, and if it turned out to be a ponzi, so what? I have already made a killing$$$$. As for DogWoman, Dogman, or whatever, since your so interested in sucking Mureese’s cock, why don’t you give him all your money as well? Then again, you probable don’t have any money, hence your trashing Legisi. See Ya loser!!!
Try to tone down the flaming a little, before I close the comment thread. Views are vital, but the flamings are not.
Dont worry about kevin dogman. He is one of those guys that knows smoking is bad for you, millions of people have died from it. but he hangs on to the few people that smoked all their life and never got cancer. and because they didnt get cancer he thinks its cool to smoke. im glad you made a killing in legisi, people do hyips to make money. So i am happy for you, and hope for continued success.
P.S. hello busy JUDE
andrewunknown,
I guess your name speaks for it self. A nobody trying to give an opinion. Go figure……..
Like Jude said before you posted, luv2hyrol, “views are vital, but the flamings are not”. That means “stick to discussion related to the topic, rather than personal attacks on those whose opinion differs from yours”. You know absolutely nothing of who I am, so you cannot correlate my online alias to the value of my opinion, which, by the way, has not really denigrated Legisi, as the one who reads closely will notice. Also, how would notoriety somehow contribute to the validity of one’s opinion, as you suggest? In fact, it has nothing to do with it. This would be like saying that because Tom Cruise is a celebrity his point-of-view on Scientology has greater merit than a well-read but run-of-the-mill individual who thinks it is bunk. So no, I guess my name doesn’t speak for itself, just as the nonsensical ad hominem argument in your post doesn’t sum up your actual reasoning ability.
Anyway, back to views related to the program, not those who post the views.
Till now, I never had any problems but I should have been paid 2 weeks ago
no reaction on my e-mails
does this have anything to do with this article ?
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
jurgen
Till now, I never had any problems but I should have been
paid 2 weeks ago
no reaction on my e-mails
does this have anything to do with this article ?
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
WOW YOU SURE ARE CALM FOR SOMEONE WHO HASN’T BEEN PAID FOR 2 WEEKS.TELL ME THE PROCESS YOU HAVE TO GO THRU TO GET PAID…STEP BY STEP…THEN I MAY…BELIEVE YOU
ARE YOU SURE YOU’RE A MEMBER OF LEGISI AND IF YOUR PAYMENT IS LATE HAVE YOU CONTACTED MARY @ADMIN@LEGISI.COM
OR………….ARE YOU JUST JURGEN US OFF LIKE THE OTHER SUPPOSED LOSERS WHO HAVEN’T BEEN PAID YET? HMMMMMMM ??
Jurgen,
The CNN article has nothing to do with your account with Legisi. If your username is “Jurgen” in the Legisi Membership as well, please log into your account and double check your above statement.
I pulled the Legisi account username “Jurgen” and your last interest was paid as scheduled to your loan balance on 5-15-07. Would you like me to post the details here?
As a Legisi Member, you should know that outside blogs are NOT the place to voice a concern in regards to your Legisi account. As it states on the Legisi website, support issues/concerns should be sent to support@legisi.com. No where is this Blog suggested as a support arena.
AdminMary
Legisi Support
AdminMary,
I bet you’ll be the happiest camper in the room in around 2 weeks
For now, I think I’m done watching this thread - can’t wait until all the interchanges are just among ourselves.
Good evening everyone!
Is there anyone out there that recently signed up with the $250 minimum? I signed up about 4 months ago with $250 and was hoping to let it ride for a year and see if this thing was for real. Because $1000 is too much for me to risk at this time, I will be transfering my mutured fund (approx $330) back to e-bullion.
I’m interested in any suggestions or recommendations for alternatives to legisi with less expensive minimums. I’m fairly new to the hyip arena and obviously do not want to get burned. Thanks in advance!
well jimmy all i can tell you is if $1000 is to much to risk your not looking for any investments. because anything that is real will have high minimums. now if you are looking to put $20-$100 in some ponzi programs by all means take your pick there is 1000’s of them all promising 100% a day returns. but if you are looking for somthing real i mean truely verifiable then you only have 3 choices out there. Legisi, Earnbyloaning, and American Investing Group LLC. Earn by loaning has low minimums around $20 i think. im not saying earnbyloaning is real but they are verifiable. which is a lot more than i can say for the other 1000’s of programs out there. So if i was you and you didnt want to risk $1000 i would go with earnbyloaning.com
Jimmy,
I highly recommend Life Holdings at www.life-holdings.com. This is one of Jude and Sharon’s favorites. When you go to the site you can deposit directly from E-Bullion. The minimum is $200. Immediately after you make your deposit, join the Life Holdings forum and send a private message to Optimus telling him your compounding rate.
Rico
Raff Riff,
actually,transparent means several things
see below………
If your going to correct us at least do a half assed job
of it………….(Check out #6)
And by the way I have placed money with some (not so
transparent),.saavy and experienced
financial specialists, like the one who turned me onto
a little known Company in Houston known as Enron………
I have been unable to locate him and thank him properly.
You might say He became transparent. (see #1 below)
TRANSPARENT:
1. having the property of transmitting rays of light through its substance so that bodies situated beyond or behind can be distinctly seen.
2. admitting the passage of light through interstices.
3. so sheer as to permit light to pass through; diaphanous.
4. easily seen through, recognized, or detected: transparent excuses.
5. manifest; obvious: a story with a transparent plot.
6. open; frank; candid: the man’s transparent earnestness.
7. Computers. (of a process or software) operating in such a way as to not be perceived by users.
8. Obsolete. shining through, as light.
—Synonyms 1. clear, pellucid, limpid, crystalline. Transparent, translucent agree in describing material that light rays can pass through. That which is transparent allows objects to be seen clearly through it: Clear water is transparent. That which is translucent allows light to pass through, diffusing it, however, so that objects beyond are not distinctly seen: Ground glass is translucent.
—Antonyms 1. opaque. 6. secretive.
Dictionary.com Unabridged (v 1.1)
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.
Riff Raff,
Get a life Dude! and Get over it! You’re not a member! so find something else to do…..shit head!
Thanks for your educational reply raff riff. I’ll be depositing an additional 20k into my Legisi account before June 1st. To bad you missed the boat!!! lol
Err laugh, we had that posted before. It’s not exactly an investigation, but some sort of Aunt Agony finance column on CNN instead.
Still, thanks for contributing
Folks,
LEGISI IS ALREADY CLOSED TO NEW MEMBERS since 18 may
http://legisireserve.com/phpBB2/viewtopic.php?t=515&start=0
Sincerely Yours,
mistrd-in-wi.
Damn, Right now I am so pissed. A few days ago I had just set up my Legisi Account now its closed because E-bullion takes forever to process a payment. I had no idea they had decided to go private on the 18th prior to then or today. It was my full intention to put my money with Legisi before June 1st, but now I can’t, its closed to the public. They really sprung this one on us. I wonder if Mary can help me out on this one because I really wanted to get in on this, and the only thing thats keeping me out is this damn e bullion. What do I do now? Does anyone know of any other loan program that is reputable that I can invest in? When I say reputable I mean have the same payment integrity and ability as Legisi. Hope there is some light at the end of the tunnel.
Earn by loaning has better returns than legisi. like 20% a month. you can try them
Ray,
Sorry about the Legisi situation. Have you contacted Mary at support@legisi.com?
Earn By Loaning has about the same track record as Legisi. The program began February 10, 2006, a month and a half later than Legisi, and has an excellent reputation with its members. Also, in addition to what they offer now, they are planning to unveil a VIP program, with details expected to be released later this year. Check’em out.
Of course, I also like Life Holdings as I posted a few messages up the page.
Rico
Mureese and Ray,
The highest rate Earn By Loaning currently pays is 0.50% daily simple interest for a 30 day loan, which is 15% for the 30 day period. For this rate, the deposit must be in the range of $1,001 to $2,000.
The next highest rate is for a 120 day loan at 0.55% daily simple interest, which is equivalent to 13.5% monthly compounded for 4 months. For this rate, the deposit must be in the range of $1,001 to $25,000.
There are eleven specific loans in all, each with their own deposit range, rate, and term length. The VIP program will come later.
There’s your intro.
Rico
or you can go with American Investing Group LLC not a high return like Earn by loan or legisi but, a lot less risk. highest return is 4.16% a month.
Ray,
One other point to consider. Earn By Loaning accepts funding by Paypal, personal check (for US residents), and bank wire. They do not accept E-Bullion and E-Gold.
Life Holdings accepts only E-Bullion and E-Gold.
Rico
Thanks Mureese and Rico for your responses to my post for Legisi alternatives.
I have never heard of Earn by Loaning and was impressed to hear they accept paypal and NOT any of the e-currencies. To me, that increases the credability for the fund since there is a risk on the part of the owner for chargebacks and the like. I listened to the audio message on the website and was further impressed. I will most likely invest my e-bullion in one or two of the other funds you guys recommended as I like what I’ve read so far.
I will continue to monitor this thread as you all have been an excellent source of information and insight. Good luck everyone!
So now Legisi is invisable
I told you so!
legisi is finally gone. we will see if complaints start popping up on the net
It’s not gone, it’s private. There is a big difference.
We all now what happens to those programs going private, no ? LOL
They are even going to set up a new website
http://legisireserve.com/phpBB2/viewtopic.php?t=563&sid=f262256d3af94977d0c598b60b123fb6
THANK YOU LEGISI….
I JUST HAD ANOTHER FUND MATURE TODAY THE 24TH…….
JUST LIKE ALWAYS…….ON TIME …….
FULLY FUNDED…THANK YOU GREG!!
Going, going, gone—if not today, then next month,
they are going to laugh all the way to the bank.
He is no better then a circus barker, and all his “Arenas”,
very sophisticated financial term, ie. multiple streams of income, strategic partnerships and alliances, etc.
Just as retarded as that infantile website for losers.
Re: The Legis Fund by Mazu?
——————————————————————————–
this was their response when asked for more info
Original Message —–
From: Admin
To: paul
Sent: Thursday, May 11, 2006 7:31 AM
Subject: Re: hello
That is none of your concern, Paul. Legisi is not an investment company.
A member loans their funds to us and chooses repayment options. I do
any and all investing.
Suffice it to say that you have found a real program doing real investing
and paying it’s members on time every time with real earnings, not new member’s
money like the Ponzi schemes.
If that just isn’t good enough for you, then please do not deposit to Legisi.
Greg
His answers are fromthe mouth of a creep!
Lost,
Isn’t it great! Legisi “They” is laughing to the bank.
And I’m right there with them as well. Damm! Life is good!
“Retards” Seems to be always looking in from the outside.
Isn’t this exactly what you’re doing?
LOL.
You are so provincial to think that people pay over 12.5% a month, and it is not a Ponzi.
Blank,
“Creep”
1 a : to move along with the body prone and close to the ground b : to move slowly on hands and knees.
I guess this happens to you when you miss the opportunity.
I’m glad I don’t feel this way…….because I’m running/laughing all the way to the bank.
Jacka$$.
LOL
Lost,
I personally don’t care what you think. I’m making money whether it’s a ponzi or not! I’m already way ahead…..so it doesn’t matter to me. The rest is gravy.
Don’t hate! learn to appriciate.
I know you wish it was you….LOSER!
This is the email I received from support@mazu.com:
“Legisi’s main site is once again under DDOS attack.”
http://legisireserve.com/phpBB2/viewtopic.php?t=560&start=0
Already 2 times under DDOS attack since they went private on 18 may , what a coincidence …. LOL
Frankly, if I sincerely believed a particular program was a ponzi, I would not get involved even if I were guaranteed a profit. I’d like to think I’ve got some integrity. Do I believe Legisi is a ponzi?
No!
Rico
Last reminder, for the benefit of everyone, supporters of Legisi or not, no more personal attacks, before I disable commenting totally.
Gregory,
You know the rules…….If you have a question please address them to AdminMary instead of commenting them here If you feel uncomfortable with the situation why don’t you ask for your money back?
Gregory,
You know the rules…….If you have a question please address them to AdminMary instead of commenting them here If you feel uncomfortable with the situation why don’t you ask for your money back?
Cause you jerks take 50% for early withdrawal.
The “loan” angle is obviously legal protection. There is no law against individuals making private loans to a person or a company and getting paid back with interest.
Concerning the ‘legal’ issue I guess the text above is quite important. Does this type of ‘wording’ set him from getting any licence or not?? I’m not familiar with the law in the US concerning this…
If he needs licensing, registering in Nevis is indeed only a solution if his whole business is leaving the US… (agreeing with 24oz)
Concerning the program itself: changing the rate is often a red flag, we’ll see whether it’s an exception this time or not.
Precisely. It does sort of shield his program a bit, but I don’t think it will prevent his company from being sued. But the fact that it’s a company registered in Nevis makes this kinda hard since Nevis has tough “breaking the corporate veil” laws.
In fact, read this: “Plaintiff bringing civil suit must post US $25,000 bond. ”
source: SMS | Why Nevis?
Now about his business being in the United States. On the site in the “contact us” section it does say “Legisi Holdings, LCC (USA Office)” which brings the question, is that a separate corporation registered in the United States or is that just a virtual office of the Nevis Legisi Holdings LLC corporation?
I doubt that he registered two corporations with the same name (one in the United States and the other in Nevis), so I think that his US office is a virtual office of the Nevis company. Having this in mind, it could pose a problem as Legisi clearly has a US presence. Now, I think that changes things a bit.
As I said in my previous post, I am no lawyer, but since he clearly has a local presence and is offering services of a financial nature, Legisi Holdings LLC just *might* need to obtain special licensing.
Lol..perhaps it would have been better if Legisi did not have a US office address and just have the mail from the Nevis office forwarded to an US address. This way Mr. McKnight could administer the program remotely and no complicated legal issues would arise. However, even if the US government officials bust in on Mr. McKnight’s party they can’t really do anything about Legisi’s assets since they belong to an offshore corporation (harder for people who are victims of fraud to get their money back).
Like I’ve said on some previous post, will a corporate lawyer please stand up?
You don’t have to worry about Legisi anymore. It now has a private membership.
For the record, they have been informative, upfront and professional. I have been well informed on this side of matters. I have great confidence in Greg and his team. I have no regrets.
Too bad for you guys that were too afraid to take a small chance and tested it!
Remember never listen to the “Chicken Littles” ,Oh no! the sky is falling! kind of people…..TO LATE FOR DOUBTERS!!!!!!!!!!
I’M OUT OF HERE!
To Dan, sounds like you are still hoping for the best, hey thats all you can do. when legisi burns everyone we will all be there to dry the tears. hee hee
Right now im studying corporate law. And what Greg is Doing is illegal. The fact that is taking loans for his company makes them securities. If he were to take in personal loans, which means people would be loaning him money and not Legisi. And also the US usury laws have to be considered as well.
Susie,
You have long ways to go……babe! Stay in school and keep on learning……maybe, change carrer path as well.
Fuck off luv2loan
Susie,
Maybe you can for me…..I luv 2 watch…..
lol u r silly luv2loan
Susie,
I’m just having a little fun…..I’m glad you have a sense of humor……also, good luck to you……enjoy the rest of the weekend.
LOL
If Greg isn’t doing anything illegal , why then start a new website, take
down the legisi forum , why they closed earlier ? all I see is hiding and
running away…..
It all started when the following article came out
http://money.cnn.com/2007/05/08/pf/legisi.moneymag/index.htm?postversion=2007050812
Mike,
I don’t need anybody’s tears if I get burned. If I fail then I fail, big deal,I learn, and get back up and move on. Sometimes these payoff and sometimes they don’t! I’ll take my chances with Legisi.
Remember, your lookin from the outside in. You really can’t make a judgement if you’ve never been a member. You sound like you have lost money before and our afraid of any level of risk…….yep I smell a “chicken little”. Sorry you can’t join…NOT! LOL.
Have a great day!!
Legisi is now private. I would say that 99.9999 % of Legisi members are no longer reading or responding to the useless posts in here. Only the naysayers, who are trying to make themselves feel better by claiming it’s a scam, or wannabe lawyers still questioning the legality of the program remain. I have loved coming in here to get a good laugh, but am too busy counting my monthly Legisi profits to bother reading the meaningless chatter in here any longer. See Ya!!!
Legisi is gone people, so let them go. im tired of emails from this forum. Legisi will be back in spotlight before the year is out. LOL
They are gone. Either you got in or you didn’t. Will it last? Who knows, or really cares at this point. Time to move on to better things.
I am what you call a naysayer, but I thought about putting money into Legisi. In the end, I didn’t. I couldn’t now even if I wanted to. Oh well. It is now private, so looking at other opportunities. I think A3Union looks pretty good. Am looking for a long term investment with sustainable monthly return.
To Mr. Legal,
If you refer to a previous posting that I created, you will see that I had consulted an attorney who currently teaches business law at my college. This attorney had previously worked as an assistant state attorney general for the state of MA, and specializes in tax law. He took a look at the Legisi program, and after going through it informed me that in his opinion, they are not doing anything illegal or improper. Again, this is only his opinion, but given his background, and legal credentials, his opinion is ‘gold” as far as i’m concerned!!! He did however, state that he would probably not place any of his own funds into such a program, but does that make it a scam? No!!! Obviously, there is always a risk with putting your money into any loan/investment vechicle, and if anyone promises a no risk program, they are full of crap!!! Just my two cents. I do feel much better and confident about Legisi after getting his input. Bye Bye!!!!!!!!!
MiguelZ,
Before you put your hard earned money into A3Union, I suggest you read the following articles by Jude and Andrewunknown:
http://hyipblog.nobshyip.net/2007/01/29/a3union-steer-clear/
http://hyipblog.nobshyip.net/2007/04/24/the-new-school-of-scam-part-i/
I realize these are just two opinions, but these guys are well respected around here.
Rico
Dear Dale,
My bother-in-law is a Criminal Defense Lawyer, and I was thinking of joining, but missed the chance because there now private. I asked him check this out for me, and he pretty much told me the same thing you were told. I wish I still had a chance to put a small loan in with them. I guess that’s what I get for waiting so long. Can anyone recommend a good investment opportunity?
chrissy,
If you scroll up the page, you will see my May 18 and May 21 posts regarding Earn By Loaning and Life Holdings. Other than Legisi, these are my two current favorite programs. With either you can expect to earn greater than 10% per month. Both have flawless payment histories.
Rico
chrissy,
If you go to “search blog archives” at the upper right of this page, type in Earn By Loaning and Life Holdings. You will see a lot of positive articles on both programs in this blog.
Rico
Thanks Rico. I will look them over.
Criminal Defense Lawyer, and a tax lawyer. When you guys consult a securities lawyer thats when you claim is creditable. Those type of lawyers wouldn’t know jack about securities. Just because they are lawyers doesnt mean they know every law. They are experts in criminal defense, and tax, not securities.
They are certainly better than the “Wannabe” lawyers in here claiming they know everything! LOL I’ll take the word of a former asst. state attorney general any day!!!
I’ve read through everything in here, and am amazed. Mureese, you are obviously not a member in Legisi, but yet, it kills you that it’s still around, and people are being successful with it. You still love to trash it, claiming it’s a securities issue, when clearly it is not. I know Greg has done his homework on this issue very throughly. Why not stick to peddling your slumlord business? ROFLMAO~!!!!!!!!!!
Okay Kiddies,
enough already. either you got in with legisi or you didn’t. It’s that simple. I doubt that “actual” members of legisi would be in here questioning the legality of everything. I wanted to join up with them. but could really not afford to. Oh well, life goes on. onto bigger and better things.
If you missed legisi and still want something else to invest in. try www.earnbyloaning.com or www.americaninvestinggroup.org