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This change has been expected for quite sometime and I’m not worried. Spoken to Dan, Life Holdings over IM about it (even webcamed too) and I’m fully supportive of the move. Official source from Life Holdings Forum
Hello.
I apologize for the late update.
Let me answer your questions and let’s get rid of the recent rumors, for the sake of our mental sanity.
Profit payments and the process of cashing out members - on request or by my choice - are being delayed because of some problems at my bank. The center of the problems is my main Bank itself. Receiving five figure wire transfers every week or two from Betfair and sending the money out of the country to multiple e-currency exchangers is a strange routine. After investigating my regular transfers, my bank found out about E-gold and the problems ‘associated’ with it, and since then they have imposed a limit on my activity according to their anti-money laundering rules.
*Mind you, most bank employees earn $6,000 - $12,000 a year around here. Transferring those amounts weekly DOES raise an eye bro or two.
My decision is to reduce the number of wire transfers I have to perform, and in turn I am changing the payment schedule from Weekly payments to Monthly payments effective immediately. No payments will be made in June, so I will have announce the date for the first monthly payment in July soon; I do not know the exact date yet.
For all you rumor mongers, you should stop spreading lies and panic yourself, or others. There’s no point in doing that.
The new payment schedule is a good change which I should have made even earlier. It will take take time for some to get used with it; I know others breathe relieved because it’s something they’ve been expecting for some time now.
Regards,
Dan (OptimusLH)
Life Holdings Management
Popularity: 2% [?]
Weekly payouts are solemly there, to *spoil* the members. For a real site with a real admin in command, its impossible to keep up paying out every single week. Perhaps his bank stopped him, but even if his bank didnt placed a limit, I still feel Dan was already planning to switch to monthly payouts. I am not worried about it.
Its also dangerous to wire in and out anything over 10000$. The plans Dan has to go offshore may be a solution to this. Luxumburg, swiss or even further works.
Weekly payouts are solemly there, to *spoil* the members.
Makila that is the best observation anyone made so far *thumbs up
Regards,
Dan
As a general rule any change in ROI, or payouts would be a redflag. However, on the contrary, here, however given what we know one man doing eveything, its makes much sence to reduce the admin needed to run this expanding program, and besides its not a big surprise given the problems with e currencies in general. My personal take is another point to Dan for good money management.
Yes,
monthly payouts allows the admins of real Investment plans to concentrate on their program solidly, like trading, maintaining, updating, support, and also payout to members as well as many other things.
Dan, may I know what do you mean when you said in your post in LH forum “i have a nice little plan, that will kick out almost all members in 2-4 months”.
Can you elaborate this more? I sense something not good with that phrase.
regards
Hello,
Maybe it’s the way I wrote it, but there’s nothing wrong with it.
80-90% of all Life Holdings members have less then $1,000 invested. I want to fully refund (aka kick out) these members and some of the larger members as well while I am sorting out my own problems.
I plan to continue with Life Holdings in a new formula from now on. Less members, monthly payments, more actual work, higher returns (back in the 15% monthly zone), less administrative work.
The refunding process will take at least 2 months, that’s for sure. For those without patience, they will be put on the refund list, even if it takes more then usual for them to receive their funds. For those with patience, the future looks bright.
Regards,
Dan
Dan,
I’m with you 100 percent. You’re doing a terrific job.
Rico
Dan,
It all sounds good to me. I finally got my e-bullion account funded, and will making my first investment shortly. I am looking forward to the 15% per month, but will accept whatever you can provide as long as you stick around.
Bruce
15% per month? Dan would have few peers, if any, at that level. The long-term outlook seems especially promising.
Rico