Internet income business verification - Net Income Solutions. Is it real?

[Citizen X]

Here is a link posted earlier in the thread your payouts could be recalled. LINK Basson Blackburn

PYRAMID SCHEMES - THE REPAYMENT RISK (AND INNOCENCE IS IRRELEVANT!)

A pyramid scheme must, by definition, eventually collapse; leaving (statistically) up to 88% of investors queuing for whatever the liquidator is able to recover for them from the perpetrators.

Even those investors who "got out early" can expect a claim for repayment from the liquidator, and a recent High Court judgment illustrates the dangers of investing in any scheme that looks suspiciously profitable, even if the investment is made entirely innocently (that is, without any knowledge that it is going into a pyramid scheme).

Ordering an investor to refund to the liquidator all monies that the scheme had distributed to him prior to liquidation (a total of R549.500, being both capital invested, and interest accrued thereon), the Court commented that it was irrelevant whether or not the investor "may have been unaware that an offence was being committed by the payer". The whole business activity of the scheme being unlawful, repayments could never have been made "in the ordinary course of business" (which would have validated them).

If an investment looks just a bit too profitable, tread very carefully - you risk losing it all

Source:
http://www.bassonblackburn.com/news-attorneys-sep.html
Accessed 1 March 2013

[Citizen X]

Honestly speaking, there are risks in a lot of business ventures today. The advise I always give people who want to try this scheme is to only put money they can afford to loose. But then, you withdraw all your daily earnings for the first 2 months in order to get your capital back. This is easy given that you should be making 50% earnings per month. You can then use the last 25 days of the 75 days to compound your earnings to keep playing to minimise risks as clearly mentioned by other members on this forum. But obviously you still have the first 2 months which your risk is higher. However, this scheme was not started yesterday but has 2 years or so running, so you could take comfort that no one has lost their money since, so maybe you wont loose yours. If that is still way too risky for you, then you simply dont participate.

Therein lies your problem!! You not an accredited and regisitered financial services provider but you are giving finacial advise!! This is actually illegal!! You must be an accredited and regisitered financial service provider to advise anyone in SA on any financial matter whatsoever!!!! Let me retract that momentarily: Are you as Mathebuj an accredited and registered financial services provider???? If not why are you giving financial related advise????

[Mathebuj]

@vanash; the forum requires people who have done this to comment on their experiences and views on the matter concerned. If u view my experience as official financial advise service to the public, then u wrong. Otherwise the originator of this topic which is a financial topic should have indicated that only accreditated financial advisers should comment. What is flawed abt my advice anyway to a friend who asks me abt how to avert risks in a scheme am participating in?

[Dave A]

Therein lies your problem!! You not an accredited and regisitered financial services provider but you are giving finacial advise!! This is actually illegal!! You must be an accredited and regisitered financial service provider to advise anyone in SA on any financial matter whatsoever!!!! Let me retract that momentarily: Are you as Mathebuj an accredited and registered financial services provider???? If not why are you giving financial related advise????

So if I say "Don't do it", does that also constitute financial advice for which I'd have to be an accredited financial adviser?

[Citizen X]

So if I say "Don't do it", does that also constitute financial advice for which I'd have to be an accredited financial adviser?

A very good afternoon Boss,
Touché…I’ve come to appreciate that when interacting with you Boss, I’m interacting with the equivalent of Plato.
Philosophically the one, advising to and the other advising not to is no better or no worse, really the same difference..I think here one has to look to The Financial Advisory and Intermediary Services Act 37 of 2002 and maybe even 1 or 2 more Acts

[IanF]

@Mathebuj, looks like you are aware of the risk. Is there a risk if this fails that you will have to payback what you have already banked?
I seem to remember with one of the pyramid schemes this happened but I can't be sure.

[Mathebuj]

@Mathebuj, looks like you are aware of the risk. Is there a risk if this fails that you will have to payback what you have already banked?
I seem to remember with one of the pyramid schemes this happened but I can't be sure.

Am fully aware of the risks. The same way am aware of the risk of the banking indusrty collapsing one day with lots of our money. The same way am awre that even buying shares from blue chip companies might result in me loosing all of my money. I just dont think there is a risk free investment unless you keep cash in your house, oh wait, we in SA where crime is high, even that is way too risky.

[Blurock]

Am fully aware of the risks. The same way am aware of the risk of the banking indusrty collapsing one day with lots of our money. The same way am awre that even buying shares from blue chip companies might result in me loosing all of my money. I just dont think there is a risk free investment unless you keep cash in your house, oh wait, we in SA where crime is high, even that is way too risky.

There' a difference between risk and blatant racketeering. With a bank you deal with an organisation registered with the FSB. The industry is regulated and there are many checks and balances. When you buy shares in blue chip companies you at least have access to their financials, their premises their telephone numbers and a host of other information to assist you in your decision. You also know who their shareholders and directors are.

Please give me the same information on this Ponzi scheme. The me who the directors and shareholders are. Can they be held accountable? No? So how can you justify your involvement in this scheme if you know that its illegal?

Your scheme is like buying a torn condom from a sleezeball in the alley, just before visiting the brothel.

[Blurock]

On Thursday morning the Registrar of Banks applied to the Western Cape High Court for an interim order interdicting Net Income Solutions/Defencex from continuing its deposit-taking activities. The order was granted, and has effectively frozen Defencex’s bank accounts. A copy of the order can be downloaded here.

So who has lost money on this scheme? Will you be brave enough to admit?

[kimzaza]

So who has lost money on this scheme? Will you be brave enough to admit?

its me im brave enough to admit