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

[IanF]

Vanash
That point 9 is interesting, first 12 hours is quick. It will be interesting to see if the investors are ordered to pay back. This then ups the risk with something like this.

[Darkangelyaya]

I read on News24 that more than R500million had been invested, but at the granting of the court order there was only R330 mill in the account.

[Citizen X]

I read on News24 that more than R500million had been invested, but at the granting of the court order there was only R330 mill in the account.

“Money Making Scheme's account frozen

Lewer KommentaarPost a Comment
Deur: Adri van Zyl2013-03-01 21:30 By: Adri van Zyl 2013-03-01 21:30
Johannesburg. Johannesburg. – Die Wes-Kaapse hooggeregshof het Donderdag 'n aansoek van die registrateur van banke toegestaan om die bankrekening van die geldmaakskema Net Income Solutions te bevries. The Western Cape High Court on Thursday granted an application by the registrar of banks to the bank account of the money-making scheme just Income Solutions to freeze.

Net Income Solutions het sake gedoen as Defencex, wat na bewering strydig met die bepalings van die Bankwet geld van die publiek gewerf het. Net Income Solutions business done as Defencex, to allegedly inconsistent with the provisions of the Banking Act recruited from the public money.

Die registrateur van banke het inspekteurs aangestel om die bedrywighede van Defencex te ondersoek nadat klagtes van die publiek ontvang is. The registrar of banks appointed inspectors to investigate the activities of Defencex after complaints from the public.

Na verneem word, is R500 miljoen sedert verlede jaar in dié skema betaal en toe die aansoek gebring is om die bankrekening te bevries, was daar net R330 miljoen in die rekening oor. Apparently, R500 million since last year in the scheme and pay the application made to the bank account frozen, there were just over R330 million in the account.

In die hofbeslissing word Net Income Solutions ook verbied om enige verdere deposito's van die publiek te aanvaar en hy mag ook nie meer advertensies vir die werwing van geld plaas nie. In the court judgment Net Income Solutions also prohibit any further deposits from the public and he may no longer accept advertising for recruiting money instead.

Defencex is geregistreer as 'n beslote korporasie en Chris Walker is die enigste lid. Defencex is registered as a close corporation and Chris Walker is the only member.

Walker moet voor 26 Maart redes indien waarom sy bedrywighede nie deur die registrateur gestaak moet word nie. Walker before March 26 reasons why its operations should be stopped by the registrar.

Uit die bemarkingsmateriaal van Net Income Solutions blyk dit dat die skema wentel om die verkope van “produkte of dienste” van EFT For Me. From the marketing material of Net Income Solutions seems that the scheme revolves around selling "products or services" EFT For Me.

EFT staan vir “emotional freedom techniques” en lede koop vir R100 punte, wat aan hulle die reg gee om EFT-sessies by te woon. EFT stands for "Emotional Freedom Techniques" and members sale for R100 points, giving them the right to EFT sessions to attend.

Dit verdien vir hulle geld omdat die punte met R2 per dag groei. This earns them money because the growth points with R2 per day.

Die verpligte “groeitydperk” is 75 dae, waarna lede dan R150 het. The obligatory "growth period" is 75 days, after which members R150.

Sodra 'n lid R200 opgeloop het, kan hy die geld begin onttrek óf meer punte daarmee koop. Once a member R200 accrued, he began to withdraw the money or buy more points.

Lede het dan die reg om te deel in die wins van die getal punte wat gekoop word. Members have the right to share in the profits of the number of points purchased.

Die bykomende wortel voor lede se neus is die verwysingskommissie. The additional root for the nose is the referral commission members.

Lede verdien 10% kommissie elke keer as 'n lid wat hy na die skema verwys het, punte koop. Members earn 10% commission each time a member which he referred to the scheme, buy points.

Lede kan nog 5% kommissie verdien as die lid wat hy verwys het, nog iemand verwys en die persoon punte koop. Members can earn 5% commission if the member which he refers, someone referred and the person buying points.

Luidens die Defencex-webwerf hang die uiteindelike inkomste af van die aantal mense wat die oorspronklike lid na die plan verwys en die uiteindelike winsgewendheid van die maatskappy. According the Defencex website eventual income depends on the number of people living original member referred to the plan and the ultimate profitability of the company.

In die verduideliking van die “inkomstegeleentheid” sê die webwerf ook verder dat lede net “produkte of dienste” koop en nie 'n belegging doen nie. In the explanation of the "income opportunity" the website further said that members only "products or services" buy and not an investment.”

Source:
http://m.news24.com/sake24/JouGeldsake/Geldmaakskema-se-rekening-bevries-20130301
Accessed 3 March 2013

Some huge figures they talking about here!

[Citizen X]

Vanash
That point 9 is interesting, first 12 hours is quick. It will be interesting to see if the investors are ordered to pay back. This then ups the risk with something like this.

A very good afternoon to you Ian,
Yes, it will be very interesting to see how this unravels!

[Darkangelyaya]

OMG, this is terrible!
They reckon 178 000 people 'invested'.

http://www.moneyweb.co.za/moneyweb-s...larmed-at-cour

[Pfuma]

Morning Guys!

I just want to express my view on this Registrar and NIS saga. I dont think the Registrar began the investigations because the public was complaining nor to protect the public. Since there was no one who was schemed by Net Income Solutions, I dont see why individuals will lodge complaints with the Registrar. The real complainant is the banks here, the major four and microlenders. Mr. Walker was beating them on their game. What happened is that i have seem multitudes of people withdrawing their savings from the banks and plunge them into NIS to receive better earnings that the peanuts they will get from the banks. People also went to microlenders like African Banks, Capitec, etc and lend money and pay it back in less than three months, so these microlenders dont make much profit under those circumstances. So these banks got together and file a complain with the Registrar since the Registrar is there to protect and advance their interest.

Nevertheless, NIS is not legal either according to Bank Act, that regulates banks activities. He should have been registered with various institutions withins the SA financial industry to operate legitimately. But i do think Mr Walker is generating income legitimately by engaging in Forex Trading, the exercise that is practiced by our major banks to make more money out of our deposits and they give us peanuts after so many days, they even demand that we serve a notice to get our money. Mr. Walker saw this opportunity and expand on it and this become a threat the balance sheet of the major four. With the banks you will never get R2 for your R100 daily, NEVER!. A bank can earn 100 pounds on Forex market via your R100 and give you 50 cents a month. But still, Mr. Walker should have chosen to go legal. I dont even think that even if he tries to get registred he will overcome the barriers. He does have a bad history on issues of controversy.

In my conclusion, all i want to see after the representation by Mr. Walker on the 26th March 2013, is how the Registrar is going to deal with our money. Because Mr. Walker did not fly with our money, is still there frozen into Standard Bank account. Are they gonna pay us back our money (capitals) or it will also include earnings? Or the Registrar is just gonna seize and give it to the State? That is something that will tell me whether the Registrar is protecting us or the major four. But i am diametrically opposed to the views that is a Pyramid Scheme, any emphasis on a pyramid scheme will only demonstrate the lack of understanding thereof of what a pyramid is. But analysing its operations, it has no traits for a pyramid.

[Blurock]

It is sad that so many uneducated and uninformed people get conned by confidence tricksters running pyramid schemes and other dubious means to make money. Maybe you have missed the posts on how to identify a pyramid scheme, maybe you are in denial and just do not want to believe that you have lost everything.

If you have missed earlier posts or still do not know what a pyramid scheme is, read this; www.investopedia.com/articles/04/042104.asp

Or if you still do not understand, read this;

Earth to the Defencex trolls: Your money is GONE, and you are now experiencing what is known as denial. But if you insist on being retarded, I know a Nigerian who has a miracle fluid that can turn ordinary paper into R200 notes, please send the R10000 cash in return for 5ml of his miracle fluid, which is still a far better "investment" than this scam.

[Citizen X]

Morning Guys!

I just want to express my view on this Registrar and NIS saga. I dont think the Registrar began the investigations because the public was complaining nor to protect the public. Since there was no one who was schemed by Net Income Solutions, I dont see why individuals will lodge complaints with the Registrar. The real complainant is the banks here, the major four and microlenders. Mr. Walker was beating them on their game. What happened is that i have seem multitudes of people withdrawing their savings from the banks and plunge them into NIS to receive better earnings that the peanuts they will get from the banks. People also went to microlenders like African Banks, Capitec, etc and lend money and pay it back in less than three months, so these microlenders dont make much profit under those circumstances. So these banks got together and file a complain with the Registrar since the Registrar is there to protect and advance their interest.

Nevertheless, NIS is not legal either according to Bank Act, that regulates banks activities. He should have been registered with various institutions withins the SA financial industry to operate legitimately. But i do think Mr Walker is generating income legitimately by engaging in Forex Trading, the exercise that is practiced by our major banks to make more money out of our deposits and they give us peanuts after so many days, they even demand that we serve a notice to get our money. Mr. Walker saw this opportunity and expand on it and this become a threat the balance sheet of the major four. With the banks you will never get R2 for your R100 daily, NEVER!. A bank can earn 100 pounds on Forex market via your R100 and give you 50 cents a month. But still, Mr. Walker should have chosen to go legal. I dont even think that even if he tries to get registred he will overcome the barriers. He does have a bad history on issues of controversy.

In my conclusion, all i want to see after the representation by Mr. Walker on the 26th March 2013, is how the Registrar is going to deal with our money. Because Mr. Walker did not fly with our money, is still there frozen into Standard Bank account. Are they gonna pay us back our money (capitals) or it will also include earnings? Or the Registrar is just gonna seize and give it to the State? That is something that will tell me whether the Registrar is protecting us or the major four. But i am diametrically opposed to the views that is a Pyramid Scheme, any emphasis on a pyramid scheme will only demonstrate the lack of understanding thereof of what a pyramid is. But analysing its operations, it has no traits for a pyramid.

This sounds like a very good statement that may actually assist the Registrar of banks and PWC! Might I suggest that you confirm it to affidavit and take it to PWC soonest. A very good statement indeed! Will definately assist the investigations!!!!

[Darkangelyaya]

But i do think Mr Walker is generating income legitimately by engaging in Forex Trading, the exercise that is practiced by our major banks to make more money out of our deposits and they give us peanuts after so many days, they even demand that we serve a notice to get our money. Mr. Walker saw this opportunity and expand on it and this become a threat the balance sheet of the major four.

If that was true, that he was trading in Forex, it might make a good argument. However, this is not stated anywhere on the available documentation, so it might not be true. Even if it is true, trading Forex does not even give you those returns; and it is a very high risk investment, which would definitely not make consistent profits as high as two % per day. (It would actually need to be more, since he would need to make a profit too).

That being said, I commend you for taking a more level-headed approach in this, which is more than can be said for most of the investors.

[Blurock]

Forex trading is very high risk. You have obviously not taken note of high profile scandals in recent years where traders have burnt their fingers and are now either sitting in jail or have been fired. An illegal business is not sustainable. That is why the Regulator has stepped in.