Comments on: Global Online Direct Update – 3/23/07

By: advocate

advocate — Sat, 31 Mar 2007 23:22:36 +0000

Notwithstanding the larger issue of this company’s survivability, some of the small things they did simply fly in the face of good business practice.

One example: They sent me a check using priority mail which cost $4.55—-this in addition to paper costs and labor costs to generate the payment. It is a simple matter to use electronic funds transfer and save themselves approximately 80% of this expense.

I have to ask…..what else are they doing to detract from their bottom line?

But, I’ll keep a positive thought.

By: Lily

Lily — Sat, 31 Mar 2007 22:32:04 +0000

I hope I’m wrong but my first thought as I was reading this email is that this is their way of getting out of paying any interest on our loans.

The only ones who will have come out ahead on this whole scheme are the referral whores who pushed this program. Their multi level 35% total referral payout was always a huge red flag that kept me from investing more than the $500 required to get the better daily rate. (before the Oct. rate change) It was also what kept me from pushing this “possible scam” thank goodness, or I would now be feeling very guilty having earned those kind of referral fees.

As an investor who has been in since July and compounded, I will be really angry if they scammed me out of my original investment and almost as mad when they do as I suspect they will, which is to give me back my loan with no interest.

As always, time will tell, and yes, I realize by compounding I broke the 1st rule, but this is not supposed to be a ponzi scam. LOL

By: investor

investor — Sat, 31 Mar 2007 19:06:44 +0000

well, i just received an email to verify and send info on my deposit. did anyone else receive this? i heard they are asking this because they are going to have to set aside the money they owe people to guarantee they pay it. also heard they received over 10 million dollars in investments. can anyone verify this.

By: NelsonN

NelsonN — Thu, 29 Mar 2007 10:48:29 +0000

Investor, just relax and wait. People like advocate are the same ones who scare you every time April 15th comes around. You know, like the daily news on TV. Oh! The IRS will ruin your life!

Haven’t you heard this all before?

Just because an investigation is started by one of these agencies it doesn’t mean that they will ruin you or the businesses they investigate. That is, if the business is legit.

By: Investor

Investor — Thu, 29 Mar 2007 05:14:42 +0000

what do we do to get our money back?

By: makila

makila — Sun, 25 Mar 2007 18:51:43 +0000

no wonder the online business is slowly moving more towards europe and asia. Unless you hide your identity and your physical address, the SEC and the local autorities will shut you down if you run your business in the USA. As people online are very sceptical and dont invest quickly in real opportunities that hide theirself and cant reveal any DD, I feel the US online business will slowly fade into thin air.

By: advocate

advocate — Sun, 25 Mar 2007 18:18:02 +0000

merde! Very likely another opportunity lost. Once the SEC has you on their table, good things rarely happen.
As Global’s principles have already felt the lash of SEC cease and desist in other states, one can well imagine that this audit will not be favorable.

By: NelsonN

NelsonN — Sat, 24 Mar 2007 11:37:14 +0000

If they are on the up and up, they shouldn’t have a problem. I see it like this, if they pass this scrutiny they will be all the more stronger for it.

By: Jude

Jude — Sat, 24 Mar 2007 07:40:47 +0000

And a few comes ringing on top of my head now after you mentioned it

By: Curt

Curt — Sat, 24 Mar 2007 06:02:43 +0000

This may prove disastrous for all the programs posturing the “Private Loan” terminaology