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Thread: Banners Broker HYIP ponzi scam

  1. #16926
    HARRISON's Avatar
    HARRISON is offline Senior Scambuster
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    Re: Banners Broker HYIP ponzi scam

    Over a million dollars went through Don River to set up PayValley/WorldE Wallet which was never completed and little work was ever done.
    And since this money has vanished, it looks like this case may go to trial???


    bb don river 1.jpg

    bb don river 2.jpg

  2. #16927
    Della Cate is offline Elite Scambuster
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    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by littleroundman View Post
    I can remember the abuse I copped in this thread from Ken Roklin when I pointed out Canadas' poor record when dealing with fraud and fraudsters.
    But why are they so bad at it?

    I hope to God that the Americans are better at it when it comes to Traffic Monsoon.

  3. #16928
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    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by littleroundman View Post
    I can remember the abuse I copped in this thread from Ken Roklin when I pointed out Canadas' poor record when dealing with fraud and fraudsters.
    you had the wrong banners sterling point broker ltd. duh
    Haven't lost any money to online scams.......results are typical.

  4. #16929
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    Re: Banners Broker HYIP ponzi scam

    Some curious news in today suggests that althrough the court documents state the fine was $50,000, it may in fact be $4 million instead. More news on this to follow shortly...

  5. #16930
    littleroundman is offline Administrator
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    Re: Banners Broker HYIP ponzi scam

    I'd be surprised if there wasn't some form of disgorgement order issued as well.

    Although, it is Canada, after all, so, who knows ????
    The only thing necessary for the triumph of evil is for good men to do nothing

  6. #16931
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    Re: Banners Broker HYIP ponzi scam

    Confirmation of the fines imposed by the Court:

    '... the criminal proceedings, we have now confirmed that the fines in fact total approximately $4 million ($1,435,000 for Smith and $2,500,000 for Dixit)
    and that if they do not pay their respective fines within five years there is a “default hearing” and a presumptive 5 year prison sentence.
    The criminal proceedings require that each of Smith and Dixit pay $50,000 within the first two years. The default hearing is a mechanism whereby Smith and Dixit are allowed to adduce evidence as to why they are unable to pay the balance of the fine...'

  7. #16932
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    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by HARRISON View Post
    Confirmation of the fines imposed by the Court:

    '... the criminal proceedings, we have now confirmed that the fines in fact total approximately $4 million ($1,435,000 for Smith and $2,500,000 for Dixit)
    and that if they do not pay their respective fines within five years there is a “default hearing” and a presumptive 5 year prison sentence.
    The criminal proceedings require that each of Smith and Dixit pay $50,000 within the first two years. The default hearing is a mechanism whereby Smith and Dixit are allowed to adduce evidence as to why they are unable to pay the balance of the fine...'
    I absolutely understand why people become "internet marketers". As let down as I am with this so called punishment I am slightly cheered imagining how the idiots stealing on the Tube felt upon hearing the Dixit/Smith news.


    Read more: Pickpocket gang is jailed after stealing over 1,000 mobile phones on the Tube | Daily Mail Online
    Follow us: @MailOnline on Twitter | DailyMail on Facebook

    Imagine Margaret's chagrin when she realizes she could have told porkies about brokering ads in the blind network from the comfort of home.


    Margaret Johnson was sentenced to 30 months in the slammer after admitting to six thefts Friday in front of a court in Birmingham, the BBC reported.

    Serial pickpocket jailed after 153rd offense | New York Post

    Go ahead and use Ponzis to steal, it beats the hell out of riding the bus all day.


    Ducks.JPG


    1. Always store valuables in a front pocket or a secret pocket. Make sure it is not sticking out of your pocket(s) either. Keep nothing valuable in your back pocket, as this is a vulnerable place for pickpockets.

    2. Avoid walking through large crowds. Pickpockets can easily blend in and snatch wallets without anyone noticing.

    3. Touching or fiddling with the pocket where you carry your belongings tells the pickpocket where you carry your valuables. (Especially after you just read this sign)

    Beware of pickpocket.JPG

    4. Refrain from rummaging through your wallet or counting money in public.

    5. Never hand money to panhandlers, unless you have loose change in your pocket.

    6. Shorten the strap on any purse or bag you carry.

    Don't dangle the purse loose below your waist. The strap should be short enough that you can keep the purse and its openings under your elbow. A purse strap of metal chain is very secure, because it cannot be easily cut. Also, try to find a purse that has the zipper within your eyesight - not one that's behind you. Having a purse with a zipper in the back will make it easier for someone behind you to unzip your purse and make off with its contents.

    Carry your purse across your chest. If the strap is long enough, put it over your head so the strap runs diagonally across your chest, with the purse itself under your arm.
    Carry no valuable items in outer purse pockets. Use any exposed pockets for your Kleenex, your makeup, or your map. Store your wallet and phone in a place where they will be harder to reach.
    Close zippers and clasps on purses and backpacks.

    7. Pick up credit cards and other valuables as soon as the clerk returns them.

    8. Whenever you are going out to a public place, only take what you need

    9. Use a money belt or an inside coat pocket.

    10. Consider making a mugger's wallet if you know you will go somewhere dangerous. A mugger's wallet is not your real wallet - it is merely a false copy to trick the mugger into thinking that it is your real wallet

    11. Blend in.

    12. Leave nothing unattended. Do not hang a bag or purse over the back of a chair (such as in a restaurant or Internet cafe), and certainly do not leave it behind while you walk off. If you have to go somewhere (ex: bathroom), bring it with you no matter what, or risk it being stolen!

    13. Wear backpacks on your front if you must wear one in a crowd.

    Seriously don't do this.JPG

    * Yeah, way to blend in.

    How to Prevent Being Pickpocketed: 13 Steps (with Pictures)
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  8. #16933
    Beacon is offline Antiauthoritarian skeptic
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    Re: Banners Broker HYIP ponzi scam

    Spergel's TENTH report isout 299 pages Happy Reading
    http://www.spergelcorporate.ca/wp-co...ay%2016-17.pdf

  9. #16934
    Beacon is offline Antiauthoritarian skeptic
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    Re: Banners Broker HYIP ponzi scam

    Order (i) approving the Eighth Report of the Receiver, dated
    December 9, 2016 (“
    Eighth Report
    ”), the Tenth Report of the Receiver dated May 9,
    2017 (“
    Tenth Report
    ”) and the Receiver’s conduct and activities as described in those
    reports; (ii) approving the Receiver’s conduct and activities from September 1, 2016 to
    May 9, 2017; (iii) approving the Receiver’s interim statement of receipts and
    disbursements, as at May 9, 2017; and (iv) approving the fees and disbursements of the
    Receiver and its counsel, was heard this day at the Court House at 330 University
    Avenue, Toronto, Ontario
    ALL approved see page 276-279

  10. #16935
    Beacon is offline Antiauthoritarian skeptic
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    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by Beacon View Post
    Spergel's TENTH report isout 299 pages Happy Reading
    http://www.spergelcorporate.ca/wp-co...ay%2016-17.pdf
    Note also they clocked up 5.5 million in costs but they have raised another 7 million putting them up 2 million net. And that does not include the 60 million or so in the bank.

  11. #16936
    Beacon is offline Antiauthoritarian skeptic
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    Re: Banners Broker HYIP ponzi scam

    http://www.spergelcorporate.ca/wp-co...ay%2016-17.pdf
    Quote Originally Posted by page22
    25.
    On April 27, 2017, Smith and Dixit pleaded guilty to operating a pyramid scheme
    under the Competition Act. The two principals have received conditional sentences
    whereby they will serve two years less a day in the community and will be required to
    pay a $50,000 fine within two years.

  12. #16937
    Beacon is offline Antiauthoritarian skeptic
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    Re: Banners Broker HYIP ponzi scam

    More from the report
    page 32
    70.
    On November 13, 2016, the Receiver attended meetings in London, England
    with the Joint Liquidators. The primary purpose of the meeting was to prepare for the
    court officers’ attendance in the Isle of Man Court for the November 14 motion to
    transition certain insolvency administration functions from the Isle of Man to Canada.
    However, the attendance in London was also used to obtain relevant evidence from
    Committee of Inspection Member Ian Driscoll (“
    Driscoll
    ”), a former Banners Broker
    reseller, and Lyndon Farrington (“
    Farrington
    ”), a former Banners Broker super affiliate.
    These meetings were productive with both Driscoll and Farrington turning over records
    to the Receiver and, as well, agreeing to provide affidavit evidence as may be
    requested. Their evidence is particularly relevant to the activities of the Banners Broker
    principals while they worked and travelled in Europe.
    81.
    The Receiver and Joint Liquidators have cooperated in transitioning insolvency
    administration matters from the Isle of Man to Canada in accordance with the terms of
    the Transition Order. To this end, upwards of 2,500 creditor proofs of claims have been
    turned over to the Receiver (“
    Creditor Claims
    ”). The Receiver is now reviewing the
    Creditor Claims and will provide its assessment and recommendations to the Court in
    the coming months.

  13. #16938
    Char's Avatar
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    Re: Banners Broker HYIP ponzi scam

    Wait. So Driscoll and Farrington, two scammers in their own right, are working "with" the receiver? Have they been punished at all?
    "the MLM emperor "has NO CLOTHES". Pointing out particular freckles on the emperor's hiney is not necessary. The man is stark naked, for crying out loud." - http://www.vandruff.com/mlm_FAQ.html

  14. #16939
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    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by Char View Post
    Wait. So Driscoll and Farrington, two scammers in their own right, are working "with" the receiver? Have they been punished at all?
    Sounds like they are throwing their comrades under the bus to save their own butts!
    It seems like in this "industry" common sense is not all that common!

  15. #16940
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    Re: Banners Broker HYIP ponzi scam

    we knew driscoll scammer was doing that long ago acting like some innocent whistleblower.
    Haven't lost any money to online scams.......results are typical.

  16. #16941
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    Re: Banners Broker HYIP ponzi scam

    http://www.spergelcorporate.ca/wp-co...FI_may2017.pdf

    May 26th 2017

    An Open Letter to affiliates of Banners Broker International Limited (BBLl)

    The receiver would like to share the following update with all affiliates of Banners Broker as it proceeds with its administration of the Banners Broker Receivership.
    The criminal charges against both Christopher Smith and Rajiv Dixit have concluded. Both Smith and Dixit have entered into plea agreements. Pursuant to these agreements Smith was fined $1,435,000 and Dixit was fined $2,500,000. The first $50,000 must be paid by each with in two years. The remainder must be paid within five years. If they do not pay their respective fines within five years there is a 'default hearing' and a presumptive 5 year prison sentence. The default hearing is a mechanism whereby Smith and Dixit are allowed to adduce evidence as to why they are unable to pay the balance of the fine.

    The Receiver continues in its efforts to trace funds within the BBIL enterprise. These tracing efforts are worldwide and have garnered positive results to date. That having been said, our efforts have been impeded by the criminal proceedings which as noted above have now concluded. There is still much to be done and with the conclusion of the criminal charges our tracing efforts can be continued without any consideration being given to the criminal courts.
    The ability to predict a date for conclusion is impaired by the depth and breadth of the BBIL enterprise.
    We will continue with our statutory mandate until such has been fully completed.

    Yours very truly,
    MSI Spergel Inc.
    solely in its capacity as Court-Appointed
    Receiver and Manager of Banners Broker International Ltd
    Philip H. Gennis J.D, CIRP,LIT
    Senior Principal

  17. #16942
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    Re: Banners Broker HYIP ponzi scam

    Ted Nham now works for a company called Zoompass as their VP:

    About Us

    info@zoompass.com

  18. #16943
    littleroundman is offline Administrator
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    Re: Banners Broker HYIP ponzi scam

    Do you mean this Ted Nham:

    Today I have CEO and President of Vector Card Services with us.

    This is to give you another perspective and the background of what has happened over the past few days and how we move forward.
    Vector is the provider of the BB Card. CEO of Vector:

    Ted Nham Hi everyone. I may have met you in the UK and I apologize my first address is under these circumstances. I wanted to participate in this webinar to lay out the facts of what has happened, as I'm sure Chris and you guys are. I wanted to address you as the rep of the program. I want to outline the facts. I'm going to endeavour to explain what has expired and to make sure that the right decision has been made.

    Facts are, there has been a growing number of online campaigns originating from bloggers, independent and disgruntled BB'er and just plain bloggers, and unfortunately this has caused quite a stir. I thought we had a handle on them by implementing a online task force to go after these "counter-information" bloggers and with threats of legal proceedings.

    Unfortunately the noise became louder. Despite what has happened, we believe this is a good business, and Chris has agreed to move forward to invite an independent auditor to come in and audit BB and prove this is a great company.

    Unfortunately, this online "noise" and bad publicity has come to the attention of Mastercard, and even though there is no logic or reason, Mastercard has decided to close the program. This is not what I wished, and as a company, we apologize to all who have supported our great program.
    The only thing necessary for the triumph of evil is for good men to do nothing

  19. #16944
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    Re: Banners Broker HYIP ponzi scam

    The latest Court Documents go after Josun this time:

    Banners Broker International Limited - Spergel

    ...and it looks like Dixit could be facing more Criminal charges?

    dixit more charges.jpg
    Last edited by HARRISON; 11-10-2017 at 01:58 AM.

  20. #16945
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    Re: Banners Broker HYIP ponzi scam

    A brief Summary of the Latest Receiver Report:

    Kuldip Josun has been ordered to repay $6 million.
    The Receivers are claiming $200 million in damages from Rajiv Dixit.
    The Receivers are claiming $100 million in damages from Kuldip Josun.
    Tens of millions of dollars has already been recovered.
    The Ontario Securities Commission (OSC) began investigating Banners Broker in early 2013. The status of its investigation is unknown and may still be pending.
    Dixit is facing indictment on serious criminal charges.

  21. #16946
    advocacybz is offline Junior Member
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    Re: Banners Broker HYIP ponzi scam

    The Advocacy Network was formed to eliminate all forms of financial victimization and to date we have saved the public over $8M. The most prevalent form of victimization is get rich quick scam, this has been around since the beginning of time. Mostly Ponzi schemes that are based upon any number of key hot sales promotions, such as information (this is the oldest) as in the high tech world information is abundant. Then there is the trading robots, or internet affiliates scams all based on driving a huge network of people who believe the ship has come in. Imagine paying $2K and more for someone to train you on how to earn $10k or more per month. Question is if that trainer is doing so well why in the world would they share any secrets that are helping them earn $100's of thousands per month? Here is the most effective due diligence, simply ask yourself if the offer is selling the goose or the eggs. If they are selling the goose then they are scamming you. The goose I refer to is the goose who laid the golden eggs. If you owned the goose would you sell it? If you did could you sell that 1 goose multiple times? The answer to both is no. No one would sell the goose because they would be a fool to part with a cash flow asset like that. And of course there would only be one goose so selling it multiple times would clearly yell scam, wouldn't it. Those who sell trading platforms, marketing plans, lead generation machines and such are all selling GEESE. If those platforms, trainings etc.. worked the individuals with them would never sell them they would sell the proceeds from the platforms to the public. If I could earn $500 with a software that showed me what trades to make each and every day why would I diminish my gains by allowing 100's of others to use that software? If the software worked it would be a GOOSE and thus I should be able to earn much more money with it then by selling it to others. Come on people use the commons sense you were born with. Get rich quick only relates to the Lottery and an inheritance. Otherwise you become financially independent the old fashioned way, serving others and providing beneficial services and solutions that enrich those you are serving. You and those you serve then both make strides toward financial independence.

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