LMAO LMAO:  0
Dislikes Dislikes:  0
Ignorant Ignorant:  0
Moron Moron:  0
Page 54 of 679 FirstFirst ... 444525354555664104154554 ... LastLast
Results 1,326 to 1,350 of 16962

Thread: Banners Broker HYIP ponzi scam

  1. #1326
    Join Date
    Jun 2010
    Location
    Mars
    Posts
    9,233
    Post Thanks / Like
    Blog Entries
    3

    Re: Banners Broker HYIP ponzi scam

    The cheerleaders are loose everywhere plugging this garbage:

    Bannersbroker is not ponzi, scam, mlm, pyramid - Tech Consumer Advice | 21-10-12 - PC Advisor Forums

    I love the lovely reference to this fine thread!!! Perhaps, said cheerleader has the moxie to join us???

    Soapboxmom
    Anyone needing assistance please feel free to use this e-mail in addition to the PM system here to contact me: soapboxmom@hotmail.com

    Dallas College Richland Campus Music Advising Derrick Logozzo / Melissa Logan / Not NASM Accredited / Out of State Tuition Nightmare!

    Love some Bunny! I do!

  2. Likes 1 Member(s) liked this post
  3. #1327
    Join Date
    Aug 2012
    Posts
    1,332
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    I very much doubt it...
    "if they are giving the Banners Broker Mastercard,Banners Broker must be a real company." -BB member.
    "A toyota means 1 thing. Extrenal revenue. That is proof."-BB member

  4. #1328
    Join Date
    Oct 2011
    Posts
    110
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by Soapboxmom View Post
    Perhaps, said cheerleader has the moxie to join us???
    "Oh, hello Annie. Do come in to our little den, here; you're more than welcome. Let me introduce you to the pride."

  5. #1329
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by noname999 View Post
    I'm beginning to think if one of the hierarchy stated they had eaten the first born of every member of BB they would thank them too.

    And none of these muppets have asked since?

    From what I can see BBers asked plenty of questions but when they don't like the answer they ignore them. And they call themselves businessmen
    There are so many people that are ignoring this tax issue. Each time it comes off there is stock reply of 'what do accountants know'. It really is laughable.

  6. #1330
    Join Date
    Sep 2012
    Location
    Manchester, UK
    Posts
    1,400
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    What DO accountants know?

    On a serious note: I don't see me having to play my aces any time soon - it looks as though Banners Broker is going to eat its own tail.

    Jason

  7. #1331
    Join Date
    Oct 2012
    Posts
    143
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by hendyphilhendy View Post
    There are so many people that are ignoring this tax issue. Each time it comes off there is stock reply of 'what do accountants know'. It really is laughable.
    Indeed. In fact, the UK leadership figures (Driscoll, Soozi, Waters et al) are actively encouraging affiliates to avoid paying their dues, by ignoring the issue when raised on the forum. Surely, as they are operating what is purported to be the UK "official" support forum, the Tax issue should be THE single issue of utmost concern to affiliates who are destined to become millionaires. Yet there is ZERO guidance in this area. IF they REALLY wanted to look legitimate, this would have been faced by now. Oh well, most people involved in BB will actually not even reach the dizzy heights of the £8K UK tax threshold.

    I wonder how the leaders are getting on with their tax returns which are due next Wednesday?

  8. #1332
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by Beethoven View Post
    Indeed. In fact, the UK leadership figures (Driscoll, Soozi, Waters et al) are actively encouraging affiliates to avoid paying their dues, by ignoring the issue when raised on the forum. Surely, as they are operating what is purported to be the UK "official" support forum, the Tax issue should be THE single issue of utmost concern to affiliates who are destined to become millionaires. Yet there is ZERO guidance in this area. IF they REALLY wanted to look legitimate, this would have been faced by now. Oh well, most people involved in BB will actually not even reach the dizzy heights of the £8K UK tax threshold.

    I wonder how the leaders are getting on with their tax returns which are due next Wednesday?
    Paper returns are due next Wednesday, the majority do theirs online and so have until 31st January 2013.

    However, that doesn't get past the point of having a point of reference. In my tete a tete with Soozi I asked who her accountants were as she explained that they knew everything about the business. She would not give the name of them despite me saying I would be happy to pay them a consulting fee to get advice from them.

    Ian Driscoll and Banners Brokers accountants are DSL Accounting yet they never respond to any request I send them

    There are some major accounting issues that the affiliates really need to be thinking about. It seems however, ignorance is bliss

  9. #1333
    Join Date
    Jun 2010
    Posts
    609
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Forgive me if this seems naive, but don't you simply follow the rules for taxation of gains from an illegal enterprise?

  10. #1334
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Oh dear - it seems my BB account has been locked.

    I have requested that they refund my initial investment. I don't hold out much hope.

    Does anyone know the most obvious legal recourse to get my money back. I cannot for one second believe a court would accept 'you slated the business' as a valid reason for non payment.

  11. #1335
    Join Date
    Sep 2012
    Location
    Manchester, UK
    Posts
    1,400
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by hendyphilhendy View Post
    Oh dear - it seems my BB account has been locked.

    I have requested that they refund my initial investment. I don't hold out much hope.

    Does anyone know the most obvious legal recourse to get my money back. I cannot for one second believe a court would accept 'you slated the business' as a valid reason for non payment.
    Depends where you're posting from, Phil.
    I'm guessing Wiltshire, UK.

    If so, then Trading Standards would be a great start.

    Jason

  12. #1336
    Join Date
    Aug 2012
    Posts
    1,332
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    They have taken money from you under false pretences. They said that they have all this ad space. We all know it does not exist. If you take them to court, the onus will be on them to prove it does exist. Of course they won't be able to so you will win the case.
    Then again, the last thing they want is to end up in court. They will give you the money back long before then. Can I ask is there much money involved?
    "if they are giving the Banners Broker Mastercard,Banners Broker must be a real company." -BB member.
    "A toyota means 1 thing. Extrenal revenue. That is proof."-BB member

  13. #1337
    Join Date
    Jun 2010
    Posts
    19,835
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by Lil Ol' Radical Me View Post
    Forgive me if this seems naive, but don't you simply follow the rules for taxation of gains from an illegal enterprise?
    That's going to be the main problem with Banners Broker.

    IF it's closed by the authorities, the situation becomes clearer, especially for those in the U.S.A. which has provision within it's I.R.S regulations to cover the income and/or losses from a confirmed fraud.



    FAQs Related to Ponzi Scenarios for Clawback Treatment

    Question: How does a taxpayer treat the repayment of a clawback?



    Answer:
    Clawback repayments of amounts previously reported as income from a Ponzi scheme are not additional theft loss deductions. Instead, they are repayments of claim-of-right income that result in either a deduction as a non-theft investment loss, or a credit calculated under IRC § 1341, whichever results in lower tax.
    A theft loss deduction from a Ponzi scheme is not a deemed repayment of Ponzi income that is eligible for IRC § 1341 treatment, see Rev. Rul. 2009-09, and a taxpayer that attempts to claim § 1341 treatment for all or part of a theft loss deduction cannot use the safe harbor in Rev. Proc. 2009-20. However, an actual clawback repayment is not a theft loss deduction and § 1341 treatment is not barred by Rev. Proc. 2009-20.
    If, as will generally be the case, a clawback exceeds $3,000, § 1341 applies and the taxpayer would compute the tax for the year of the clawback payment (the clawback year) under two methods (see the discussion of "Repayments" in Pub. 525):
    Method 1: Figure the tax for the clawback year claiming a nontheft investment loss deduction for the clawback payment. It is not a capital loss and it is not subject to the 2% floor on miscellaneous itemized deductions.
    Method 2: Figure the tax for the clawback year with a credit computed as follows:

    1. Figure the tax for the clawback year without deduct*ing the repaid amount.
    2. Refigure the tax for the year the clawed-back income was originally reported (the income year) without including in income the amount of the clawback payment.
    3. Subtract the hypothetical tax for the income year in (2) from the actual tax shown on the return for the income year. This is the § 1341 credit.
    4. Subtract the answer in (3) from the tax for the clawback year figured without the deduction (step 1).

    The taxpayer is entitled to the benefit of either the deduction under Method 1 or the credit under Method 2, whichever results in less tax (or a greater refund) for the clawback year. Note that the § 1341 credit is a refundable credit. Therefore, the credit may result in a refund payment for the clawback year even if, in that year, the taxpayer had no taxable income and made no tax payments. However, although the § 1341 credit is based on the amount of tax the taxpayer would have saved in the income year if the taxpayer had not reported the clawed-back income, it is not an actual credit or refund for the income year, and does not bear overpayment interest from the income year.
    For information on where an individual reports the IRC § 1341 credit on the Form 1040, please see Pub. 525 and the instructions to Form 1040.

    Question: What does the taxpayer need to establish as to whether the repayment of a clawback is allowable as a deduction (or a § 1341 credit)?

    Answer:
    The taxpayer would have to establish that the clawback amount was required to be repaid to the trustee. The taxpayer would also have to substantiate that payment was made. The substantiation could include a letter from the trustee.


    Theft Losses from Investments in “Ponzi” Schemes: Tax Treatment of Distributions Received From a Trustee/Receiver

    Q1: In many criminally fraudulent investment schemes, a court-appointed trustee or receiver is assigned to recover and sell assets derived from the scheme and distribute the proceeds to victims as a full or partial recovery of their theft losses. Is a taxpayer who receives such a recovery required to include the amount in income for federal income tax purposes?
    A1: Whether a taxpayer who recovers amounts lost in a fraudulent investment scheme is required to include the recovery in income depends on whether the taxpayer claimed a tax deduction for the theft loss in any prior year. A taxpayer who has not yet claimed a tax deduction for the theft loss is not required to include in income a recovery from the trustee or receiver. Instead, the recovery will reduce the amount a taxpayer may eventually claim as a loss. A taxpayer who claimed a tax deduction for the theft loss, however, may be required to include the recovery in income, depending on the extent to which the theft loss deduction created a “tax benefit” for the taxpayer.
    Q2: How does a taxpayer who claimed a tax deduction for a theft loss determine the amount of a subsequent recovery that he or she must include in income?
    A2: Under a provision of law known as the tax benefit rule, a taxpayer must include in income the recovery of any amount deducted in a prior taxable year to the extent the prior year’s deduction reduced the taxpayer’s tax liability for that year (or created a net operating loss carryback or carryover). For example, if a taxpayer properly deducts a $100 theft loss in 2009, and the deduction reduces the taxpayer’s 2009 income tax liability, a recovery of $100 received in 2011 is includible in full in the taxpayer’s income in 2011 under the tax benefit rule. Similarly, if the 2009 theft loss exceeds the taxpayer’s 2009 taxable income and creates a net operating loss carryback or carryover, a recovery of $100 received in 2011 is includible in full in the taxpayer’s income in 2011. The recovery is ordinary income and not capital gain.
    Q3: May a taxpayer amend a prior year’s income tax return to reduce a properly claimed theft loss by the amount of a recovery received in a subsequent year?
    A3: No. If a taxpayer properly claimed a theft loss deduction and in a later year recovers a portion of the amounts lost, the taxpayer may not amend the prior year’s income tax return to reduce the theft loss deduction by the amount of the recovery. Instead, the recovery is includible as tax benefit income in the year received.
    Q4: Using the optional safe harbor provided in Rev. Proc. 2009-20, a taxpayer claimed a deductible theft loss in 2009 equal to 95% of the total qualified investment, reduced by amounts the taxpayer reasonably expects to recover from insurance or from the Securities Investor Protection Corporation (potential insurance/SIPC recovery). In 2011, the taxpayer receives the expected insurance/SIPC recovery. Does the taxpayer have income under the tax benefit rule in 2011?
    A4: No, the taxpayer does not have income in 2011 under the tax benefit rule. As the taxpayer properly reduced the deductible theft loss by the potential insurance/SIPC recovery in 2009, when those amounts are recovered in 2011 the taxpayer does not have to report the recovery as income under the tax benefit rule.
    Q5: If, under the optional safe harbor provided in Rev. Proc. 2009-20, a taxpayer claimed a deductible theft loss in 2009 equal to 95% of the total qualified investment (assume the taxpayer had no potential insurance/SIPC recovery), and in 2012 the taxpayer recovers 4% of the taxpayer’s total qualified investment, does the taxpayer have income under the tax benefit rule in 2012?
    A5: No, the taxpayer does not have income in 2012 under the tax benefit rule. The 4% recovery is treated as first reimbursing the portion of the theft loss for which the taxpayer did not claim a deduction in 2009 (i.e., the 5% portion of total qualified investment that was not deductible under the safe harbor). Because the 4% recovery is a recovery of an amount that was not previously deducted, it is not income under the tax benefit rule. The taxpayer may have an additional theft loss deduction for the remaining 1% loss that has not been recognized or recovered. This loss is properly deductible in the year it is determined that there is no reasonable prospect of recovering this remaining 1%.
    Q6: If, under the optional safe harbor provided in Rev. Proc. 2009-20, a taxpayer claimed a deductible theft loss in 2009 equal to 95% of the total qualified investment (assume the taxpayer had no potential insurance/SIPC recovery), and if the taxpayer recovers 4% of the taxpayer’s total qualified investment in 2012 and 3% of total qualified investment in 2013, does the taxpayer have income under the tax benefit rule in 2013?
    A6: Yes, the taxpayer will have income under the tax benefit rule in 2013. As discussed in Q&A 5, the taxpayer would not have income under the tax benefit rule in 2012 upon receipt of the 4% recovery because the 4% recovery does not exceed the unrecovered portion of the theft loss for which the taxpayer did not claim a deduction. As of the end of 2012, the taxpayer has deducted 95% of the total qualified investment, and recovered 4%. Accordingly, only 1% of the unrecovered total qualified investment remains for which the taxpayer has not claimed a deduction. In 2013, the 3% recovery is treated as first reimbursing the remaining unrecovered portion of the theft loss for which the taxpayer has not claimed a deduction (1%). The remaining 2% is income in 2013 under the tax benefit rule.

    For example, assume the taxpayer’s total qualified investment is $200X, and the taxpayer, consistent with Rev. Proc. 2009-20, claimed a deductible theft loss of $190X (95% of the total qualified investment) in 2009 (assume the taxpayer had no potential insurance/SIPC recovery). In 2012, the taxpayer recovers $8X. In 2013, the taxpayer recovers $6X. The amount includible in income in 2013 under the tax benefit rule is computed as follows:
    2009
    Total qualified investment $200X
    Deductible theft loss (95%) $190X
    Remaining unrecovered total qualified investment (5%) $ 10X
    2012
    Recovery of 4% of total qualified investment $ 8X
    Remaining unrecovered total qualified investment (1%) $ 2X
    None of the $8X recovery is includible in income in 2012 under tax benefit rule because the $8X recovery does not exceed the unrecovered portion of the theft loss for which the taxpayer did not claim a deduction ($10X).
    2013
    Recovery of 3% of total qualified investment $ 6X
    Because the $6X recovery exceeds the remaining unrecovered portion of the theft loss for which the taxpayer did not claim a deduction ($2X), the excess ($4X) is includible in income in 2013 under the tax benefit rule.
    For further information see the section entitled “Insurance and Other Reimbursements” in Publication 547 and the section entitled “Recoveries” in Publication 525.
    A trustee or receiver may use this information to respond to questions from investors and may include a copy of these questions and answers with any distributions sent to investors.
    IF, on the other hand, Banners Broker simply disappears, as is most likely, that then puts the taxpayer in the position of having to "prove" his or her "expenses" and "losses" and "income" are legitimate.

    IOW, it's not a simple process and DEFINITELY needs the advice of a qualified tax accountant, ESPECIALLY if the "earnings" are in the multi thousands of dollars.
    The only thing necessary for the triumph of evil is for good men to do nothing

  14. #1338
    Join Date
    Aug 2012
    Posts
    1,332
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by hendyphilhendy View Post
    I cannot for one second believe a court would accept 'you slated the business' as a valid reason for non payment.
    I can just hear the defence...

    'well your honour, the whole thing is a confidence trick, so if anyone jeopardises the illusion we are fully entitled to rob their money

    ...by the way, can I interest you in some bona fide serpent liniment. You may have seen it advertised on the one banner ad we currently have.'
    "if they are giving the Banners Broker Mastercard,Banners Broker must be a real company." -BB member.
    "A toyota means 1 thing. Extrenal revenue. That is proof."-BB member

  15. #1339
    Join Date
    Oct 2012
    Posts
    143
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by hendyphilhendy View Post
    Oh dear - it seems my BB account has been locked.

    I have requested that they refund my initial investment. I don't hold out much hope.

    Does anyone know the most obvious legal recourse to get my money back. I cannot for one second believe a court would accept 'you slated the business' as a valid reason for non payment.

    Sorry to hear this PH. I'd advise you to begin proceedings as soon as possible to maximise your chances of recouping your losses. This example provides solid proof of illegal activity, and could serve as a springboard to successful court action. You have my best wishes, I hope that you are successful.

  16. #1340
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Thanks for calling Jason (Poyol) much appreciated.

    I will be speaking/ contacting Trading Standards this afternoon, as well as chatting with a couple of legal contacts that I know.

  17. #1341
    Join Date
    Sep 2012
    Location
    Manchester, UK
    Posts
    1,400
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    You're welcome, Phil.

    I do my best to help everyone out.
    Nice to speak to people over the phone too.

    I don't use a computer at home - so I only ever post when I'm working.
    When I can afford a laptop for the home - I'll have to acquire everyone's Skype names - wonderful method of communication.

    Jason

  18. #1342
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Oh I have also opted to post my experience of this on a variety of forums that I frequent, including the quite popular 4networking forum. I am not saying I am particularly popular or well known but I have a small network, that has a bigger network, that has an even bigger network and can reach out to quite a few people!

    This has particularly annoyed me - no email, no letter, no threats, no warning -nothing. What an awful way to run a business.

  19. #1343
    Join Date
    Oct 2012
    Location
    Frankfurt a/m Germany
    Posts
    590
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Quote Originally Posted by hendyphilhendy View Post
    Oh dear - it seems my BB account has been locked.

    I have requested that they refund my initial investment. I don't hold out much hope.

    Does anyone know the most obvious legal recourse to get my money back. I cannot for one second believe a court would accept 'you slated the business' as a valid reason for non payment.


    Do not hesitate,report your problem to Internet Crime Complaint Center (IC3) | Home

  20. #1344
    Join Date
    Aug 2012
    Posts
    1,332
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    @Phil: a solicito'rs letter would probably scare them enough to return the money but it depends if its enough to go down this route. Of course we would all be hoping you take it further but thats not for us to decide.
    "if they are giving the Banners Broker Mastercard,Banners Broker must be a real company." -BB member.
    "A toyota means 1 thing. Extrenal revenue. That is proof."-BB member

  21. #1345
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    I will be getting on with it asap - just waiting firstly to see if I get a response.

    Interestingly on Talking BS I see that someone has referred to the terms and conditions. They really don't look all that legally enforceable. In my limited legal knowledge I know that you cannot exempt complete liability regardless of your T's and C's. If you could every business would do it.

  22. #1346
    Join Date
    Oct 2012
    Location
    Frankfurt a/m Germany
    Posts
    590
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    ...or..if you do not get your money back in near future,just contact SEC Canada - inquiries@osc.gov.on.ca <inquiries@osc.gov.on.ca> with an email is much more easier

  23. #1347
    Join Date
    Sep 2012
    Location
    Manchester, UK
    Posts
    1,400
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    So, when's the first Anti-BB UK meet? Ha.
    We could go and visit the Bradford HQ!

    Would be quite a blast - I'm sure.

  24. #1348
    Join Date
    Aug 2012
    Posts
    1,332
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    If we could find it...
    "if they are giving the Banners Broker Mastercard,Banners Broker must be a real company." -BB member.
    "A toyota means 1 thing. Extrenal revenue. That is proof."-BB member

  25. Likes 1 Member(s) liked this post
  26. #1349
    Join Date
    Aug 2012
    Posts
    1,332
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Cant get my money out using paysa , stp are dodgy as hell so the chances are if i used them i would`nt see my money again and they wont give me a bb card because they say my driving licence which i sent them a photo copy of does not confirm the state i live in and the expirery date is wrong a british driving licence mind . Looks like my moneys stuck

    Just saw this on moremoney review. Knew this was going to happen. Mastercard is now practically the only way to get money out. Of course, most can't get one. There are people waiting months and months.
    Looks like if you are from anywhere outside the states you definitely won't get one. Wonder what excuse they are using for people inside the states...
    "if they are giving the Banners Broker Mastercard,Banners Broker must be a real company." -BB member.
    "A toyota means 1 thing. Extrenal revenue. That is proof."-BB member

  27. #1350
    Join Date
    Oct 2012
    Location
    Devizes
    Posts
    395
    Post Thanks / Like

    Re: Banners Broker HYIP ponzi scam

    Lol, According to Alan Howard (the resident moaner) I was 'self important' when on the Talking BB. By that I assume giving advice on my area of expertise (tax and accounting) was being self important. That forum really does make me chuckle sometimes. I know 2 other accountants in BB who agreed with my take on the accounting issues. Indeed, lots of people on Talking BS said the same; however, a few people obviously know more than the professional!

    The first rule of Banners Broker, don't talk about Banners broker (unless it is about how much money you, they, anyone can make)

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •