- Report: #184976
Complaint Review: StudioTraffic StudioPay Et Al Studio Programs - Internet
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StudioTraffic StudioPay Et Al Studio Programs
studiotraffic.com Internet, U.S.A.
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StudioTraffic, StudioPay, Et Al Studio Programs ripoff, ponzi scan, denied problems, deliberately misleading to new clients Internet
Studio Traffic has been in operation for a few years now, claiming high yeild returns paid to people wishing to invest money into advertising websites within the STV (Studio Television). The requirement: watch 50-100 other people's web ads using their auto-surf website which displays a new site every 20 seconds.
My 2 younger brothers made thousands of dollars of profit over the past year with StudioTraffic. They talked both myself and our mother into investing (we each put in approx $3000 USD)into StudioTraffic because of their great experiences. Things seemed to be going fine over my first few months in StudioTraffic as I compounded my earnings. I encouraged my brother-in-law to join: he invested $2800 USD mid February.
StudioTraffic stopped making payouts to its members sometime around Nov 2005. In mid March 2006, StudioTraffic's management team resigned, forcing the closure of offices around the world. Around the same time, payment processer StormPay froze StudioTraffic's online financial accounts. In their member forum, unregistered forum members were denied the ability to create forum accounts, preventing them for posting in the forum.
In the last week of March, StudioTraffic announce that it would be selling "Shares" (quickly changed to "Units") to members in order to "keep moving forward." Members were told that the more $10-units they purchased, the higher priority they would have in the payout line... a line that their online help desk revealed to be 400,000 pending withdrawls long. Payment processer eGold froze StudioTraffic's account. On March 31, StudioTraffic's website was suspended by their webhost ("pending an investigation," as one forum member stated). April 4, the manager of StudioRocks.com, another "Studio Program" announces his resignation... All in all, it appears that tens (if not hundreds) of thousands of misled investors are out a huge sum of money.
StudioTraffic disabled the link to their user forum months ago. Why? Purhaps so that both existing and new members could not find out about the pending crash of their business. Instead, they mad everything look pristine and appealing to new members, drawing in more and more money. Overall, they seem to have purposely misled people into funding their dying operation, knowing full well that their company was nearing death.
James
Radway, Alberta
Canada
My 2 younger brothers made thousands of dollars of profit over the past year with StudioTraffic. They talked both myself and our mother into investing (we each put in approx $3000 USD)into StudioTraffic because of their great experiences. Things seemed to be going fine over my first few months in StudioTraffic as I compounded my earnings. I encouraged my brother-in-law to join: he invested $2800 USD mid February.
StudioTraffic stopped making payouts to its members sometime around Nov 2005. In mid March 2006, StudioTraffic's management team resigned, forcing the closure of offices around the world. Around the same time, payment processer StormPay froze StudioTraffic's online financial accounts. In their member forum, unregistered forum members were denied the ability to create forum accounts, preventing them for posting in the forum.
In the last week of March, StudioTraffic announce that it would be selling "Shares" (quickly changed to "Units") to members in order to "keep moving forward." Members were told that the more $10-units they purchased, the higher priority they would have in the payout line... a line that their online help desk revealed to be 400,000 pending withdrawls long. Payment processer eGold froze StudioTraffic's account. On March 31, StudioTraffic's website was suspended by their webhost ("pending an investigation," as one forum member stated). April 4, the manager of StudioRocks.com, another "Studio Program" announces his resignation... All in all, it appears that tens (if not hundreds) of thousands of misled investors are out a huge sum of money.
StudioTraffic disabled the link to their user forum months ago. Why? Purhaps so that both existing and new members could not find out about the pending crash of their business. Instead, they mad everything look pristine and appealing to new members, drawing in more and more money. Overall, they seem to have purposely misled people into funding their dying operation, knowing full well that their company was nearing death.
James
Radway, Alberta
Canada
