Complaint Review: VIP Bank Inc

There were 5 investors including myself who experienced this outrageous scam which was methodically orchestrated by and pre-meditated by VIPBank.com aka VB Group, and Thebiginvest.com. On 5/31/10 I invested a small amount combined with a few 4 investors who started a Platinum-Plan to test the system with $25K total. We received 20/55 payments like clockwork into the Platinum-Plan Liberty Reserve account through Friday 6/25/10.

On Thursday 6/17/10 I was so pleased with the performance of the Platinum-Plan that myself and two of the other investors invested 100K total into my own VIP-Contract with a different Liberty Reserve account, with no confirmation that my money was received. VIP verified that having multiple plans and investing with a group into one plan, is allowed. The VIP-Contract required a contract to be filled out and faxed in. The actual process is not clearly stated on the site, so I sent in the money before the contract instead of the other way around. After numerous email attempts, VIP finally replied and said the contract would be delayed because I didn't follow the application process correctly.

Finally, on Tuesday 6/22/10 i received a signed and stamped contract approval that was faxed to me. On Saturday 6/19/10 I registered on the VIP Forum with my first and last name as my "username", but never was approved to post on the VIP forum even after emailing customer support more than once to ask them to activate me.

Then, on Tuesday 6/22/10 we noticed on the VIP Forum that a brand new investor registered on the forum and posted using MY business name (which I hand-written on my VIP-Contract) as their "username", asking if they could change their Liberty Reserve account #, and have their interest payment paid to their new Liberty Reserve account. VIP customer support posted a reply saying "Yes, that was possible and just fax or mail them the changes."

Since I was never approved to post on the VIP Forum, on Wed. 6/23/10, My referrer immediately emailed VIP customer support and told them that post was NOT from me and I did not request to have my interest payments sent to another Liberty Reserve account. Thurs 6/23 VIP claimed they corrected my LR account back to the original and payments would start on Monday 6/28.

VIP customer support replied saying my computer must have been hacked by someone posing to be me as they show it was coming from my same IP address. I assured VIP my computer was previously protected with anti-hacking software and even changed all my pass codes, and started using a new computer for all financial accounts, as soon as the fraudulent post appeared on the Forum on 6/22/10, and that it was safe to send my interest payment to my original Liberty Reserve account now.

On Sunday 6/27/10 VIP's last customer support email communication was as follows:

Dear Sir , We've had many cases in which our clients requested the daily interest processed to another LR account for personal reasons , but this situation here never happened before. The user and fraudulent post that used your Business Name will be deleted from our public board. If you say that your computer is clean I will leave a note to our IT Department to fax you new VB account details on the next business day. Also i can talk to our Account Officer Monday morning to have your VIP plan start from scratch , so the first payment will come like this 1/30 , not 3/30 . I can't promise anything because i don't have any power of decision , but will see what he decides . Thank You, David - Customer Support 

 The next business day was Monday 6/28/10 and no payment was received for the VIP-Contract. Also, Monday 6/28/10 VIP suddenly stopped interest payments on the Platinum-Plan that I was previously in before starting the VIP-Contract, with no warning, explanation, or communication to this date. As of today, we have not seen one interest payment for the VIP-Contract, nor have we seen any other email replies to our additional email inquiries sent by myself and my Referrer since Sunday 6/27/10.

I have not seen the VB account details faxed to me as they promised.

I have not seen the fraudulent post using MY business name removed from the VIP Forum as they promised.

I never received the VIP customer support phone number that the contract promised within 7 days.

And, my referrer never received a referral fee as promised on the VIP site either.

I believe VIP made up the fraudulent post themselves using my company name as a username and to set up a reason why my interest payments did not come, and didn't expect us to catch it so soon, and plans to keep every penny of the 100K we invested, along with the remaining interest payments and principle of the previous Platinum-Plan.

Do not be fooled. It is evident that VIP is continuing to pay selectively some investors on their previous smaller Bronze, Gold, Silver or Platinum-Plans, in hopes the investor will upgrade, and send more money to a Platinum or VIP-Contract.