- Report: #301441
Complaint Review: GWOPC - Global Wealthbuilders Offshore Privacy Club - Internet
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GWOPC - Global Wealthbuilders Offshore Privacy Club
http://www.gwbopc.com/ Internet, Panama
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GWOPC - Global Wealthbuilders Offshore Privacy Club GWOPC Took About $400,000 From Its Active Members - Left them high and dry! Internet
GWOPC is no longer in business. Members have lost their investments and any money due them.
Unfortunately it did not last very long. Members were told of their demise this past October and bluntly told there was nothing they could do about it. There is an ongoing attempt to transfer the membership to another program. The people who are in control of the old forum have stated they do not know who the owners are and have no way of contacting them.
Here are some of the facts. GWOPC launched in June of 2006 with about 2,000 paying members. Most members paid a year in advance to the tune of about $300 each. Some members had multiple memberships. Hence, they had more of a dollar investment of $300 each. From this information we can ascertain the club ownership took in about $600,000. They paid out bonuses of about $100,000 and then paid about two months of money due the membership for active prepayments. This is approximated at about $83,000. One can now make the claim that the ownership has taken $417,000 from its members.
A few members made money. There have been reports that some made up to as much as $20,000. But I assure you that was only a handful. It is more probable that 20 people may have made a good profit. Another 100 members probably made a profit on their investment and a couple hundred members broke even. The rest of the 2,000 members lost money. I make these assertions based on information gleaned from the members forums and talking personally with other members.
The ownership has remained anonymous. Or so they want you to think. There are people who know more than they are letting others know. The ownership has disguised their corporations as Panamanian corporations and would lead one to believe they can not be touched. They are beyond the reach of the law. Or it would be a significant waste of time to try and pursue this matter with any legal governmental organization.
However, they did leave a paper trail. I tracked it from the very beginning. And the owners have not completely insulated themselves from the reach of the US government agencies. They made a few mistakes and opened a temporary US Nevada corporation that was required to open a bank account. So if someone really wants to go after the ripoff artists, they can.
Patrick
Saint Charles, Missouri
U.S.A.
Unfortunately it did not last very long. Members were told of their demise this past October and bluntly told there was nothing they could do about it. There is an ongoing attempt to transfer the membership to another program. The people who are in control of the old forum have stated they do not know who the owners are and have no way of contacting them.
Here are some of the facts. GWOPC launched in June of 2006 with about 2,000 paying members. Most members paid a year in advance to the tune of about $300 each. Some members had multiple memberships. Hence, they had more of a dollar investment of $300 each. From this information we can ascertain the club ownership took in about $600,000. They paid out bonuses of about $100,000 and then paid about two months of money due the membership for active prepayments. This is approximated at about $83,000. One can now make the claim that the ownership has taken $417,000 from its members.
A few members made money. There have been reports that some made up to as much as $20,000. But I assure you that was only a handful. It is more probable that 20 people may have made a good profit. Another 100 members probably made a profit on their investment and a couple hundred members broke even. The rest of the 2,000 members lost money. I make these assertions based on information gleaned from the members forums and talking personally with other members.
The ownership has remained anonymous. Or so they want you to think. There are people who know more than they are letting others know. The ownership has disguised their corporations as Panamanian corporations and would lead one to believe they can not be touched. They are beyond the reach of the law. Or it would be a significant waste of time to try and pursue this matter with any legal governmental organization.
However, they did leave a paper trail. I tracked it from the very beginning. And the owners have not completely insulated themselves from the reach of the US government agencies. They made a few mistakes and opened a temporary US Nevada corporation that was required to open a bank account. So if someone really wants to go after the ripoff artists, they can.
Patrick
Saint Charles, Missouri
U.S.A.
1 Updates & Rebuttals
Thomas
Anderson,South Carolina,
U.S.A.
How does one name a scheme like this? How about PONZI ?
#2Consumer Comment
Sat, January 19, 2008
This sounds like old hat. People are fed a lime that they want to believe, and then the early birds get the worms while the later birds get plucked. I remember reading Carolina Investors' ads in 2001 in the local paper that offered 8% interest on deposits. Carolina Investors imploded in 2003, and in 2005 the people who had money in Carolina Investors got back about 27 cents for every dollar they had "invested". $275 million dollars went in and about 70 million was returned. Some peoples' retirements were ruined. I simply never did respond to those ads... sometimes procrastination does pay.....
