Webwatch
August 30th, 2006, 03:58 PM
A while ago we where spammed with this scheme and after following it over the last few days it now appears to be all over.
Its a good example of how these schemes start and stop abrubtly leaving the unwary out of pocket:
The usual MMG initial post to get the scam forum going:
Stellent Finance Group values long term stability and services which have always been the key principles in our operations. Our sights are set on becoming a top finance group in funds management and our goal is to provide excellent services capable of meeting the expectations of the most demanding investors.
Our Investment Plans
2.0% to 4.5% daily
Minimum investment of $10
6% Referral commission
For more information, please visit Stellent Finance Group.
Their website went live on July 18th or thereabouts so as payments started to stop on August 26th we have a life cycle of 39ish days or 36 days as the MMG first post appeared on the 21st July.
Paying 2% (compounded) a day for an investment of $10 with a 7% fee for fund withdrawl would mean approx 38 days approx to double your money, but of course that wouldn't happen as the site would stop paying in anticipation of huge withdrawls around the 38 day period.
They used a paid sticky on Money Maker Group and as many HYIP monitors as possible to make this look like a genuine investment plan.
So who would make the most money out of this well early investors and admin of course but surprise surprise MMG with their pre-paid sticky section earned a nice $2500 in e-gold for advertising this program.
Its a good example of how these schemes start and stop abrubtly leaving the unwary out of pocket:
The usual MMG initial post to get the scam forum going:
Stellent Finance Group values long term stability and services which have always been the key principles in our operations. Our sights are set on becoming a top finance group in funds management and our goal is to provide excellent services capable of meeting the expectations of the most demanding investors.
Our Investment Plans
2.0% to 4.5% daily
Minimum investment of $10
6% Referral commission
For more information, please visit Stellent Finance Group.
Their website went live on July 18th or thereabouts so as payments started to stop on August 26th we have a life cycle of 39ish days or 36 days as the MMG first post appeared on the 21st July.
Paying 2% (compounded) a day for an investment of $10 with a 7% fee for fund withdrawl would mean approx 38 days approx to double your money, but of course that wouldn't happen as the site would stop paying in anticipation of huge withdrawls around the 38 day period.
They used a paid sticky on Money Maker Group and as many HYIP monitors as possible to make this look like a genuine investment plan.
So who would make the most money out of this well early investors and admin of course but surprise surprise MMG with their pre-paid sticky section earned a nice $2500 in e-gold for advertising this program.