Monday, 29 December 2014

Reporting Ponzi Schemes

MAPS are having ANOTHER recruitment event on the 10th January 2015 at The Cumberland Hotel in London. Promoting a Ponzi is ILLEGAL. Please contact Action Fraud and let them know:

From Action Frauds Website:

Ponzi schemes

Ponzi schemes are ‘get rich quick’ investment scams which pay returns to investors from their own money, or from money paid in by subsequent investors. There is no actual investment scheme as the fraudsters siphon off the money for themselves.

A fraudster places an advertisement for a non-existent investment that offers extraordinary returns in a short space of time.

After receiving the promised returns on their investment, the first investors start to spread the word to family and friends. In this way, the scheme gains credibility.

Because the money isn’t invested in any kind of investment vehicle, there are no profits. Instead, the first investors are simply paid out from the money paid in by new investors.

Ponzi schemes are created for all levels of income, and have taken in investors in the top bracket as well as those on middle and low levels.

Typically, the fraudster will vanish with investors’ money, so the system eventually collapses with later investors receiving nothing - including their initial investment.

Because Ponzi schemes are unauthorised and make no profits, you are very unlikely to recover any lost money.
Are you a victim of a Ponzi scheme?
You have been offered the opportunity to take part in a new investment scheme, or to attend a presentation or meeting with “key investors” about the scheme.
You have subsequently invested money in this new scheme.
What should you do if you’re a victim of a Ponzi scheme?
If you believe you’ve come into contact with a Ponzi scheme, call the FSA’s consumer helpline on 0300 500 5000.
If you think you are actively participating in a Ponzi scheme, break off contact with the fraudsters immediately and do not invest any more money.
If you’ve given the fraudsters your bank account details, alert your bank immediately.
Keep any written communications you have received from the Ponzi scheme. They may help you give evidence to the authorities.
Be aware that you are now likely to be a target for other frauds. Fraudsters often share details about people they have successfully targeted or approached, using different identities to commit further frauds
People who’ve already fallen victim to fraudsters are particularly vulnerable to the fraud recovery fraud. This is when fraudsters contact people who’ve already lost money through fraud and claim to be law enforcement officers or lawyers. They advise the victim that they can help them recover their lost money – but request a fee.
Protect yourself against Ponzi schemes
If you’re considering any type of investment, always remember: if it seems too good to be true, then it probably is.
There’s no such thing as a ‘guaranteed risk-free’ investment - high returns can only be achieved with high risk.
Ponzi fraudsters use vague technical jargon to describe their non-existent investments, such as ‘high yield investment programme’ or ‘global currency arbitrage’. This language is designed to dazzle you.
Using hard-sell techniques, fraudsters will try to pressure you into making rushed decisions, giving you no time to consider the nature of the investment.
As with many fraudulent schemes, you are encouraged to keep your investment secret to ensure you receive maximum returns. This allows the fraudsters to hide the real nature of their scheme.
Fraudsters aim to make their business seem legitimate. This means they will often have impressive job titles, glossy brochures and mock websites and will organise meetings in expensive venues to look credible. If you have any suspicions about a scheme’s authenticity, investigate the company’s status and contact details.
The Financial Services Authority (FSA) regulates companies that offer certain investments to the public. You can have a look at a list of businesses that are known to be unauthorised, orunauthorised overseas businesses.
Always ask simple questions about the company and the scheme. Be on high alert and, if they try to dodge questions, be more persistent. They should be prepared to tell you everything you want to know about the scheme.
Ask about the board of directors who are managing the scheme and ask to meet or have a phone call with one of them.

If fraud has been committed, report it to Action Fraud.

Wednesday, 24 December 2014

Twitter is active again!

Last week I could access Twitter but today I've been blocked. Very odd!

Merry Christmas!

I would like to wish all my readers a very Merry Christmas and a scam free 2015!

Friday, 12 December 2014

Bayview Property Withdrawn from Sale.

The property at 1376 Bayview Avenue, Toronto has been withdrawn from Sale Listings in Toronto.
This property was brought by Chris with YOUR money and a new company called Cydcor Limited was operating from it.
It may be quite at our end, but the receivers and liquidators are obviously working hard in the background.
If you are still sitting on the fence waiting for Banners Broker to come back, you must by now know that they are definitely dead.

Please check my Chargeback clock to see if you are eligible to claim or if not, contact the liquidators. Details on the Chargeback and Liquidator pages  

Friday, 28 November 2014


My apologies  to those people who have posted questions onto the CHARGEBACK PAGE and haven't received an answer. The page is full and I can no longer reply I'm afraid. If you are one of those posters, please can you re-post onto the 'Ask Tara' page and I'll be more than happy to reply.
Many thanks.

Tuesday, 4 November 2014

The 540 day Chargeback rule

NEVER pay for these schemes in CASH. ALWAYS use a credit card. When the scheme goes sour - which it will - you can at least be safe in the knowledge that you can use the 540 day rule to recover your money using CHARGEBACK.

ALL of these schemes promise you money. They are offering you a 'service'. If they don't give you what you paid for, YOU ARE ENTITLED TO A REFUND.

                  ALWAYS USE A CREDIT CARD

                      - CHARGE IT BACK!

Friday, 24 October 2014


Below are the Banks and Credit Card Companies (that I know of) that have so far issued Chargebacks to affiliates of Banners Broker for their initial seed money:


The cut-off date for Chargebacks is closing rapidly.
As a quick guide, count back 540 days from the date you're reading this blog. If your initial purchase date is AFTER this day then you can still claim a Chargeback and you have 120 days to lodge your refund request. 

If you haven't claimed yet. Do it now. Or it really will be too late.

(Approx cut-off point is MAY 2013)

Thursday, 16 October 2014

Canadian Court Ruling

On October 15th 2014 the Canadian Courts issued an Order to give the appointed receivers greater investigatory powers.

This means that:
The property at Bayview (value $4 million) can be seized.
The receivers are now allowed to force banks to hand over account details held by Chris Smith, Raj Dixit and Banners Broker and its associated companies.
The receivers are allowed to take control of all Banners Brokers computers, disks, servers etc.

This means that the Website will close imminently and Social Media will surely follow. 

Friday, 3 October 2014






***see 'Breaking News' for more details***

Saturday, 6 September 2014

For Your Information

The Liquidators Website address:

The Canadian Court Documents:

Banners Broker Ponzi Scam page:

The Banners Broker Ponzi Scam page is the best Facebook site to get up-to-date information from and has thousands of followers.

There is always someone there to help and advise you.

Friday, 29 August 2014

Todays News

Today's news of the Canadian involvement in the Banners Brokers Liquidation proceedings is a giant leap forward and tremendous news for ALL of us who have worked so hard to bring these criminals to justice. But it's only the first step. There's a long way to go. 

I work closely with the admin on Banners Broker Ponzi Scam Facebook page and I know I speak for them also when I say that we will follow this through to the bitter end and are always here to help.
Thank you.


Sunday, 20 July 2014


For the latest, 'up-to-date' news on Banners Broker, please see my 'Breaking News' page.
For the latest Chargeback SUCCESS stories, please go to my 'Get your money back' page.
Official Liquidation news will posted on here as I receive it.

Monday, 30 June 2014

Liquidators Website

The new Information Website for making a creditors claim for Banners Broker International is now live:

Tuesday, 10 June 2014


A new website will shortly be launched from the Liquidators to give you 'up to date' info on everything to do with the Liquidation.
Details to follow soon...

Wednesday, 7 May 2014

Latest Liquidation Information

Paul Cooper @ David Rubin and Partners London,
020 7400 7900

now have approximately 850 creditors on their list. It isn't to late to join it, so please contact Paul Cooper (for Paul Appleton) asap.

It's also been confirmed that the Toronto Police are interviewing previous employees at Stellarpoint and staff who worked with Chris in his Canadian Office.

A court case will be starting in the near future to force up to 15 banks (including The Choice Bank, Belize) to disclose account details from Banners Broker with a view to freeze any other assets that Banners Broker may hold.

Friday, 18 April 2014


So Version 3 has now been up and running for one month.

Lets see what's working shall we?

Automated payouts?

Weekly tasks up and running?

World e Wallet working?

Organic Campaigns working?

Has BB still got bugs?

Great big fat lying ones!

Wednesday, 9 April 2014


This letter has been sent to all creditors:

Dear Sir/Madam




As you are aware, I was, together with Miles Benham of MannBenham Advocates Limited, duly appointed Joint Liquidator of the above named Company on 14 March 2014, having previously been appointed Joint Provisional Liquidator and Deemed Joint Official Receiver.

You have kindly provided me with details of your claim against the Company, which has been noted on my file. In accordance with the provisions of Section 91 of the Companies (Winding Up) Rules 1934 (“the Rules”), the Joint Liquidators are required, on a monthly basis, to file, at Court, all Proofs of Debt received from creditors.

In addition to the provisions outlined above, Section 94 of the Rules requires the Joint Liquidators to either admit or reject the Proof of Debts received from creditors. As I am not currently in a position to admit or reject claims, I intend to seek approval from the Court to extend the time limit for dealing with claims and you will be kept fully appraised of developments in this regard.

I am currently awaiting information from certain parties to ascertain the details of the bank account into which your monies were paid, which will help me determine how to deal with your Proof of Debt. To assist me whilst I await this information, it would be useful for those creditors, who have not already done so, to provide me with further information relating to the funds paid to the Company. Accordingly, I should be grateful if you would let me have as much of the following information, and copy documentation, as you may hold:

* Copies of your personal bank statements showing where your funds have been paid to.

* Copy credit card statements showing where your funds have been paid to.

* Any email correspondence with the Company in relation to the funds paid to it.

* Details of any “Banners Broker” bank accounts into which you have been asked to pay money.

I look forward to hearing from you.

Yours faithfully

Paul Appleton – Joint Liquidator

Paul Appleton is licensed to act as an Insolvency Practitioner in the UK by the ICAEW


Telephone: 020 7400 7900
Facsimile: 020 7430 2346

Friday, 28 March 2014


Banners Broker have been caught out LYING about the processor fees they charge affiliates. 

I contacted both PAYZA and STP to hear the truth. 

This is what Banners Broker are telling affiliates:

But this is THE TRUTH from STP:

And this is THE TRUTH from PAYZA:

How much longer will Banners Broker get away with this?


Wednesday, 19 March 2014


Confirmation of Banners Broker International Liquidation. 

CHP 14/0024





On Friday 14 March 2014 the Isle of Man Court, subsequent to the meeting of creditors and contributories, held on Wednesday 12 March 2014, it was ordered that Paul Appleton and Miles Benham be appointed Joint Liquidators of BBIL.

The Joint Liquidators are now in office and are conducting the Liquidation of BBIL in accordance with the statutory requirements.

Paul Cooper

For and on behalf of Paul Appleton – Joint Liquidator

Paul Appleton is licensed to act as an Insolvency Practitioner in the UK by the ICAEW

Paul Cooper BSc ACA
Tel 020 7400 7900

Fax 020 7242 3233
E mail

1st Floor 26-28 Bedford Row, London, WC1R 4HE

David Rubin & Partners LLP is a limited liability partnership registered in England and Wales, Registered number OC339705, with its registered office at 26-28 Bedford Row, London WC1R 4HE

Monday, 17 March 2014

Liquidation News

Many people are asking for the outcome of last weeks creditors meeting.
A statement will appear very soon, please watch this space.
Thank you.

Friday, 7 March 2014

Court Documents from February 26th 2014 Liquidation

CHP 14/0008

IN THE MATTER of BANNERS BROKER INTERNATIONAL LIMITED and IN THE MATTER of the Claim of Targus Investments Limited ("Targus") dated the 10 January 2014 ("the Winding Up Claim")

At a Court held on 26 February 2014


Upon hearing the Winding Up Claim this day in the presence of Counsel for Targus and for Ian Driscoll ("Mr Driscoll") and having considered the witness statements of Stephen Porter dated 10 January 2014 Miles Andrew Benham ("Mr Benham") dated 10 January 2014 Timothy Allan Mann dated 10 January 2014 Richard Christopher Curtin dated 24 February 2014 and Kathryn Louise Clough dated the 25 February 2014 and Upon consideration had thereof IT IS ORDERED THAT:

1. Banners Broker International Limited ("BBIL") be and hereby is wound up pursuant to the provisions of section 162(6) of the Companies Act 1931 ("the Act");

2. Miles Andrew Benham ("Mr Benham") of MannBenham Advocates, 49 Victoria Street, Douglas, Isle of Man and Paul Robert Appleton ("Mr Appleton") of David Rubin & Partners LLP, 26 — 28 Bedford Row, London, WC1R 4HE be and are hereby appointed Joint Provisional Liquidators and Deemed Joint Official Receivers of BBIL pursuant to section 174 of the Act. Pursuant to section 181(4) of the Act any act by the Act required or authorised to be done by the Joint Provisional Liquidators and Deemed Joint Official Receivers is to be done by both Mr Benham and Mr Appleton save as may be specifically agreed in writing (including e-mail) between them;

3. Mr Benham and Mr Appleton as Joint Provisional Liquidators and Deemed Joint Official Receivers of BBIL shall have the following powers:

a) To carry on the business of BBIL, in so far as may be necessary for the beneficial winding up thereof;

(b) To open, maintain and operate without the further consent of any other person, such bank accounts as is deemed necessary by Mr Benham and Mr Appleton;

(c) To appoint an advocate or such other law agent or legal advisor (whether in the Isle of Man or elsewhere) to assist in the performance of their duties;

(d) To pay any classes of creditors in full;

(e) To bring or defend any action or other legal proceedings in the name of and on behalf of BBIL;

4. Mr Benham and Mr Appleton as Joint Provisional Liquidators and Deemed Joint Official Receivers of BBIL shall forthwith advertise notice of this order in two newspapers published and circulating in the Isle of Man;

5. Meetings of creditors under section 179 of the Act shall be held within one month of the date of this order;

6. The costs of Targus and of Mr Driscoll of and incidental to the Winding Up Claim shall be payable from the assets of BBIL as an expense of the liquidation of BBIL.


NOTE — It will be the duty of such of the persons who are liable under section 175 of the Companies Act 1931 to make out or concur in making out the statement of affairs of BBIL as the Joint Provisional Liquidators and Deemed Joint Official Receivers may require, to attend on the Joint Provisional Liquidators and Deemed Joint Official Receivers at such time and place as they may appoint, and to give them all information they may require.

Wednesday, 5 March 2014

Liquidator Update

This message went out to all creditors today.
(Please note that it isn't too late to apply:
Please contact Paul Cooper (on behalf of Paul Appleton)

Paul Appleton @ David Rubin and Partners.
020 7400 7900)

For and on behalf of Paul Appleton – Joint Provisional Liquidator
Paul Appleton is licensed to act as an Insolvency Practitioner in the UK by the ICAEW




Dear Sir/Madam

I refer to previous correspondence in respect of the above matter.

Please find below information to assist you in completing the proof of debt and proxy form.

Further notes for creditors on the filling out of forms

There are two forms to complete and return:

1) Proxy form – either a general or a special proxy

2) Proof of debt

1) Proxy form
If you are intending to attend the creditors meeting in your own personal capacity in the Isle of Man, then no proxy form needs to be filled out.

If you are not intending to attend the creditors meeting, then you can elect for someone to represent you at the meeting as “your proxy holder”.

A general proxy gives the proxy holder full discretion as to how to vote at the meeting on the resolutions.

A special proxy gives the proxy holder specific instructions on how to vote on the resolutions. The proxy holder will have no discretion.

You need to submit either one of the proxy forms.

2) Proof of Debt

The proof of debt needs to be filled out in order for the proxy form to be valid and your vote to be counted at the creditors meeting.

If you do not send in the proof of debt and proxy by the deadline of 12:00 noon on Tuesday 11 March, you will not be able to vote at the creditors meeting unless you attend in person and have lodged the proof of debt by the aforementioned deadline.

This does not mean that you will be unable to claim in the Liquidation for the amount of money you are owed. If you do not send in the proof of debt before the deadline, you will still be able to prove your debt at a later time. Any deadline for a future submission of proofs of debt will be advertised by the Joint Liquidators, pursuant to their statutory duties.


Paul Appleton – Joint Provisional Liquidator

Paul Appleton is licensed to act as an Insolvency Practitioner in the UK by the ICAEW

Friday, 28 February 2014


Statement from Paul Cooper at David Rubins & Partners.

The Joint Provisional Liquidators, Paul Appleton and Miles Benham, will shortly be providing information with regard to the next stage of the process. Additionally, for creditors that have not lodged a claim, they will still be able to do so. The formal cut off date will not be for some time and, in any case, will be publicly advertised to ensure creditors are aware of any statutory deadlines.

Paul Cooper @ David Rubin and Partners.
020 7400 7900

Thursday, 27 February 2014

The Irish Examiner - latest news

Banners Broker head bids to reassure investors

The head of the suspected pyramid scheme Banners Broker has tried to reassure worried investors that there is still money in the company and that it has moved operations to the Central American country Belize.
Canadian Chris Smith said the liquidation of its Isle of Man firm was a “pesky situation” that would further delay promised payouts. But he said the $6m frozen on Wednesday was “more of a rainy day trust” which it had not needed.
Mr Smith’s made his online video address a day after a court in the Isle of Man appointed joint liquidators to Banners Broker International Ltd.
But the company’s former contractor in Britain, who Mr Smith blamed for forcing the liquidation, described BBIL’s argument as “utter hogwash”.

Ian Driscoll, who said he left the company in 2012 when he sensed something was not right, said, if there was a surplus $6m sitting in an account, why had investors not been paid what they were due.
Mr Driscoll, who this month won a multi-million dollar claim against BBIL for breach of contract, told the Irish Examiner, if there were funds moved to Belize, the liquidators and creditors would unlock them.
Twelve thousand Irish investors had money in Banners Broker. They stand to lose heavily as they will be vying with creditors from around the world for a share of the frozen $6m.
In his web address Mr Smith claimed BBIL had been looking to wind down the Isle of Man company of its own accord.
An Isle of Man judge appointed joint liquidators after deciding BBIL needed to be wound up in the interests of justice.

Mr Smith confirmed it had no presence in the Isle of Man besides an unused bank account which it now cannot not access.

During his web presentation Mr Smith presented paperwork to show it incorporated a company, also called Banners Brokers International Ltd, in Belize last July. He said it was in the process of moving funds from the Isle of Man. However he said its efforts to shift the money had been frustrated by a legal case taken by Mr Driscoll, who he said was seeking $3m in unpaid profits. That hearing took place on the Isle of Man in early February.

Mr Smith said as Mr Driscoll was linked to the Isle of Man account BBIL could not get the money off the island in time. “We are now not able to release these funds that we wanted to,” he said.
But he said creditors who had made applications to the court in the Isle of Man would not get money from BBIL. “Nobody on that creditors’ list will be paid anything whatsoever.”

He said Banners Broker insisted on an internal dispute resolution system for affiliates and he warned investors it would not entertain court challenges.

Mr Smith told investors who had signed into the web address that an account of the liquidation hearing was available online at the Irish Examiner but that this newspaper had sensationalised the court judgment.

© Irish Examiner Ltd. All rights reserved

Wednesday, 26 February 2014

NEWS in Todays 'The Irish Examiner'

By Conor Ryan, Investigative Correspondent, Isle of Man

Liquidators were appointed to Banners Broker yesterday following a hearing in the Isle of Man. The scheme had attracted investment from more than 12,000 Irish people and thousands more internationally. The court agreed with an uncontested application that Banners Broker International Ltd (BBIL) should be shut down. It came five months after BBIL withdrew support for its Irish office, redirected service calls to Belize and put heavy restrictions on the withdrawals people could make from their accounts.

The court in Douglas heard the company had $6m (€4.4m) in assets but it had nobody from its Canadian operators present.

“The company is currently in limbo. It has no registered office, nobody providing secretarial services, no representative who will appear and significant assets of $6m,” said Judge David Doyle.

The judge said under the Isle of Man’s Companies Act 1931 it was just and equitable for the company to be wound up.

He appointed joint liquidators. One, from local firm Mann Benham, was put forward by Targus Investments. Targus had previously provided BBIL’s Canadian principal, Chris Smith, with nominee services for BBIL in the Isle of Man.

The second appointee was London-based Paul Appleton, of David Rubin and Partners LLP.

Mr Appleton presented the court with claims from people whose money is still locked in BBIL’s complicated internet advertising packages.

A standard letter circulated among some investors asked the Isle of Man court to appoint Mr Appleton as joint liquidator. In it individual claimants set out how much they had put in and what they were owed.

“There are genuine concerns as to the manner in which the business has been operated by others.

“A full and thorough investigation into BBIL’s affairs is, therefore, required to determine the position and explore how best to secure and recover funds for the benefit of its creditors,” the letter said.

The effect on creditors and investors will become clearer over the coming days.

Under Isle of Man law, a committee of inspection will oversee the work of the liquidators. It is expected to take up to a month to establish the extent of BBIL’s remaining assets and debts.



The Court has ruled that Banners Broker International Limited is to be liquidated and must cease trading immediately.

Paul Appleton and Miles Benham have been appointed joint liquidators.

More Information will be posted as available..

Friday, 21 February 2014


Banners Broker International is the subject of a liquidation hearing on
Wednesday 26th February at 10.00am at the High Court in The Isle of Man. 
If you would like to add your name to the long list of claimants please contact:
Paul Cooper at:  
David Rubin and Partners.
020 7400 7900

I have spoken to him personally and he will be very pleased to assist you.

Applying to David Rubin and Partners to be listed as a creditor is CONFIDENTIAL.
Banners Broker will NOT know you are on the list and it will NOT affect your account. 

Bank Chargeback Information from Banners Brokers Ponzi Scam Facebook Page 

We've received a very helpful message regarding bank chargebacks and the coming Liquidation.If a company is liquidated, the banks will almost CERTAINLY look favourably on your chargeback application.
It will confirm to them that BB is indeed a scam.

Paul Appleton @ David Rubin and Partners.

Time is running out!
You have NOTHING to lose by registering.


24th February
I've had messages from affiliates telling me that BBI is NOT registered in the Isle of Man anymore. Chris has confirmed this so it MUST be the truth... 

Unfortunately, Chris tells LIES:

Thanks to Dan Dare for finding this!