Lovely to see Simon Stepsys has finally been exposed in the National Papers:
http://www.mirror.co.uk/news/uk-news/internet-millionaire-says-its-simple-6118617
Simon was repeatedly asked to comment on his activities and about his promotion of 'My Advertising Pays'. Simon had a captive audience of hundreds of thousands of people. Great publicity for MAPS, yet refused point blank to answer any questions. He could have laid out the MAPS business model, put himself onto the International stage and spoken out about his 'negative' press. But nothing. Silence.
Ask yourselves, WHY?
Thursday, 23 July 2015
Thursday, 16 July 2015
UK Consumer Protection from Unfair Trading Act 2008.
The UK Consumer Protection from Unfair Trading Act 2008 means that people can be prosecuted for PROMOTING PONZI schemes. This is the first successful prosecution. Simon Stepsys, Danny Turner, Tony and Lynne Booth and any of the other PONZI scam promoters:
BE WARNED! Your time is coming!
BE WARNED! Your time is coming!
Tuesday, 14 July 2015
ASA have UPHELD complaints
The ASA have upheld our complaint about Simon Stepsys and in particular My Advertising Pays.
This is a small section of the ruling:
'... We noted Simon Stepsys' assertion that no personal selling was required to make money. However, we noted that the My Advertising Pays website stated that it offered an "opportunity that rewards you for selling cost-effective online advertisements" and that results would vary depending on the "sales skills of each participant".
We considered that consumers would understand from ad (b) that no selling would be involved. Because we understood that selling was involved, and because we had not seen any evidence to demonstrate that that was not the case, we concluded that the ad was misleading and had breached the Code.
On that point, ad (b) breached CAP Code (Edition 12) rules 3.1 (Misleading advertising) and 3.7 (Substantiation).
This is a small section of the ruling:
'... We noted Simon Stepsys' assertion that no personal selling was required to make money. However, we noted that the My Advertising Pays website stated that it offered an "opportunity that rewards you for selling cost-effective online advertisements" and that results would vary depending on the "sales skills of each participant".
We considered that consumers would understand from ad (b) that no selling would be involved. Because we understood that selling was involved, and because we had not seen any evidence to demonstrate that that was not the case, we concluded that the ad was misleading and had breached the Code.
On that point, ad (b) breached CAP Code (Edition 12) rules 3.1 (Misleading advertising) and 3.7 (Substantiation).
Action
The ads must not appear again in their current form. We told Simon Stepsys Success International Ltd to ensure that they did not make earnings claims unless they could be substantiated, and not to claim that selling was not involved in an opportunity if that was not the case...'
The ASA also states:
'...we needed to see evidence that showed that respondents could routinely expect to earn that amount of money. However, we had not seen any evidence to demonstrate that consumers would earn any money. Because Simon Stepsys had not provided any evidence to substantiate the claims, we concluded that they were misleading and had breached the Code.'
The ads must not appear again in their current form. We told Simon Stepsys Success International Ltd to ensure that they did not make earnings claims unless they could be substantiated, and not to claim that selling was not involved in an opportunity if that was not the case...'
The ASA also states:
'...we needed to see evidence that showed that respondents could routinely expect to earn that amount of money. However, we had not seen any evidence to demonstrate that consumers would earn any money. Because Simon Stepsys had not provided any evidence to substantiate the claims, we concluded that they were misleading and had breached the Code.'
https://www.asa.org.uk/Rulings/Adjudications/2015/7/Simon-Stepsys-Success-International-Ltd/SHP_ADJ_300740.aspx#.VaYxJKRViko
P.s, Simon has just closed down his old company and is now director of a new one:
P.s, Simon has just closed down his old company and is now director of a new one:
Monday, 13 July 2015
How Receivers Distrubute Funds
This is the latest information from the ZEEK REWARDS receivers regarding distribution of THEIR recovered funds. It uses a system called the 'Rising Tide' method . This doesn't mean that Banners Broker affiliates will be using this system, but the information below will give you an idea of what to expect and the time scales involved:
ANNOUNCEMENT FROM THE RECEIVER – June 18, 2015
I am pleased to announce that we will be making a second partial interim distribution to all Affiliates who hold Allowed Claims on the next Court authorized distribution date (July 31, 2015), which, when combined with the first partial interim distribution and the amounts paid by Zeek Rewards before it was shut down, will return to victims 60% of allowed claimed losses due to the Zeek Rewards Ponzi scheme.
There has been some confusion about how the amounts of distributions are calculated using the Court ordered “rising tide” method. The rising tide method of loss calculation is designed to make every recognized claimant equally whole (as a percentage of their investment). Take for example two recognized claimants, each of whom invested $10,000 into the Zeek Rewards Ponzi scheme. The first claimant received nothing back from Zeek Rewards while the scheme was operating. The second claimant received $4,000 out of Zeek Rewards before it was shut down. Under the rising tide method, the second claimant is deemed to have already received 40% of her investment back, while the first claimant has received nothing back. When we made the first partial interim distribution of 40% the first claimant received $4,000, but the second claimant did not receive a distribution check.
When the second interim partial distribution is made, the first claimant will receive an additional $2,000, and the second claimant (who did not get a first distribution) will receive $2,000. This will ensure that both claimants have received 60% of the amounts they invested. While some Affiliates have complained about the rising tide method, I believe it is the most fair way to make the Zeek Rewards victims equally whole; two investors put $10,000 into the scheme and each will receive $6,000 total, whether it was received from the scheme itself, or from distributions from the receivership, or a combination of both.
There also has been some confusion about our quarterly distributions. Some mistakenly believe that they will receive a distribution every quarter. There was a first partial interim distribution and will soon be a second. Each quarter we send distribution checks only to claimants who completed the claims process since the last quarter.
Unfortunately, nearly 50,000 claimants with recognized claims have not received a first, nor will they receive a second, partial interim distribution. The only reason for this is that those 50,000 claimants have not electronically signed the Release and OFAC certification available through the claims portal. Many have called or emailed asking for personal assistance signing and submitting these forms. We will soon create and post on the receivership website an instructional video showing how to electronically sign and submit the Release and OFAC certification through the claims portal. The cost to create and post this video will be a minimal expense to the receivership.
We have received calls and emails asking that we cut off the recovery rights of the 50,000 recognized claimants who have not completed the process and distribute their share of distributions to those who have. That day may come, but it has not yet. I will give each claimant with a recognized claim every opportunity to receive their share of the recovery. Nonetheless, I implore everyone to promptly complete the Court required process. Sometime before the end of the receivership I will have no option but to ask the Court for permission to distribute all remaining receivership assets to only those recognized claimants who have completed the process.
If your contact information has changed, or the claims portal shows that you were issued a check that you have not received, or a check you were mailed was issued in the wrong name, please click on the following link to learn how to let us know: https://cert.gardencitygroup.com/zrwdet/fs/home.
After this second partial interim distribution, the receivership will maintain sufficient funds to pay those claimants who have not yet, but hopefully will, electronically sign the Release and the OFAC certification, and sufficient funds to allow the receivership team to continue to pursue additional recoveries for the ultimate benefit of eligible Affiliates. We are not going to hold onto money that we could otherwise distribute to victims.
We are in negotiations or litigation with financial services firms to recover tens of millions of dollars for Affiliates. The litigation against U.S and foreign net winners (those who took more money out of the scheme than they put in, essentially holding the victims money) is progressing. I remain confident that we will succeed in all of these efforts. Unfortunately, litigation is never quick, and once we have judgments against the net winners, in amounts exceeding $200 million, we will have to collect on those judgments. I don’t anticipate making a third partial interim distribution for quite some time because the funds for such a distribution will largely have to come from litigation recoveries that will take quite some time.
I know and understand that recovering only 60% of your investment is not what you want. I have read letters from and spoken to many of you. I know the hardships that Zeek Rewards inflicted on thousands of people. It may be no comfort, but a 60% recovery by victims of a Ponzi scheme is unusually high, and I am proud that the receivership team spends less as a percentage of total recoveries than any receivership of which I am aware.
I am entirely confident that when we are finished with our work on your behalf your total recovery will be more than the 60% we will distribute. I ask you for your patience, and thank you for your continuing support.
ANNOUNCEMENT FROM THE RECEIVER – June 18, 2015
I am pleased to announce that we will be making a second partial interim distribution to all Affiliates who hold Allowed Claims on the next Court authorized distribution date (July 31, 2015), which, when combined with the first partial interim distribution and the amounts paid by Zeek Rewards before it was shut down, will return to victims 60% of allowed claimed losses due to the Zeek Rewards Ponzi scheme.
There has been some confusion about how the amounts of distributions are calculated using the Court ordered “rising tide” method. The rising tide method of loss calculation is designed to make every recognized claimant equally whole (as a percentage of their investment). Take for example two recognized claimants, each of whom invested $10,000 into the Zeek Rewards Ponzi scheme. The first claimant received nothing back from Zeek Rewards while the scheme was operating. The second claimant received $4,000 out of Zeek Rewards before it was shut down. Under the rising tide method, the second claimant is deemed to have already received 40% of her investment back, while the first claimant has received nothing back. When we made the first partial interim distribution of 40% the first claimant received $4,000, but the second claimant did not receive a distribution check.
When the second interim partial distribution is made, the first claimant will receive an additional $2,000, and the second claimant (who did not get a first distribution) will receive $2,000. This will ensure that both claimants have received 60% of the amounts they invested. While some Affiliates have complained about the rising tide method, I believe it is the most fair way to make the Zeek Rewards victims equally whole; two investors put $10,000 into the scheme and each will receive $6,000 total, whether it was received from the scheme itself, or from distributions from the receivership, or a combination of both.
There also has been some confusion about our quarterly distributions. Some mistakenly believe that they will receive a distribution every quarter. There was a first partial interim distribution and will soon be a second. Each quarter we send distribution checks only to claimants who completed the claims process since the last quarter.
Unfortunately, nearly 50,000 claimants with recognized claims have not received a first, nor will they receive a second, partial interim distribution. The only reason for this is that those 50,000 claimants have not electronically signed the Release and OFAC certification available through the claims portal. Many have called or emailed asking for personal assistance signing and submitting these forms. We will soon create and post on the receivership website an instructional video showing how to electronically sign and submit the Release and OFAC certification through the claims portal. The cost to create and post this video will be a minimal expense to the receivership.
We have received calls and emails asking that we cut off the recovery rights of the 50,000 recognized claimants who have not completed the process and distribute their share of distributions to those who have. That day may come, but it has not yet. I will give each claimant with a recognized claim every opportunity to receive their share of the recovery. Nonetheless, I implore everyone to promptly complete the Court required process. Sometime before the end of the receivership I will have no option but to ask the Court for permission to distribute all remaining receivership assets to only those recognized claimants who have completed the process.
If your contact information has changed, or the claims portal shows that you were issued a check that you have not received, or a check you were mailed was issued in the wrong name, please click on the following link to learn how to let us know: https://cert.gardencitygroup.com/zrwdet/fs/home.
After this second partial interim distribution, the receivership will maintain sufficient funds to pay those claimants who have not yet, but hopefully will, electronically sign the Release and the OFAC certification, and sufficient funds to allow the receivership team to continue to pursue additional recoveries for the ultimate benefit of eligible Affiliates. We are not going to hold onto money that we could otherwise distribute to victims.
We are in negotiations or litigation with financial services firms to recover tens of millions of dollars for Affiliates. The litigation against U.S and foreign net winners (those who took more money out of the scheme than they put in, essentially holding the victims money) is progressing. I remain confident that we will succeed in all of these efforts. Unfortunately, litigation is never quick, and once we have judgments against the net winners, in amounts exceeding $200 million, we will have to collect on those judgments. I don’t anticipate making a third partial interim distribution for quite some time because the funds for such a distribution will largely have to come from litigation recoveries that will take quite some time.
I know and understand that recovering only 60% of your investment is not what you want. I have read letters from and spoken to many of you. I know the hardships that Zeek Rewards inflicted on thousands of people. It may be no comfort, but a 60% recovery by victims of a Ponzi scheme is unusually high, and I am proud that the receivership team spends less as a percentage of total recoveries than any receivership of which I am aware.
I am entirely confident that when we are finished with our work on your behalf your total recovery will be more than the 60% we will distribute. I ask you for your patience, and thank you for your continuing support.
Saturday, 4 July 2015
ASA Ruling on Simon Stepsys complaint.
The Advertising Standards Agency has ruled on complaints made against Simon Stepsys.
The outcome will be publicly available on Wednesday July 15th.
p.s 10th July
This is the SECOND ASA Ruling. The first was in November 2014 but some idiot has plastered all the facebook pages with links to the FIRST ruling!
Who is the Anonymous comment (in the Comments section) below who thinks the latest ASA ruling is resolved? I'll let you be the judge!
The outcome will be publicly available on Wednesday July 15th.
p.s 10th July
This is the SECOND ASA Ruling. The first was in November 2014 but some idiot has plastered all the facebook pages with links to the FIRST ruling!
Who is the Anonymous comment (in the Comments section) below who thinks the latest ASA ruling is resolved? I'll let you be the judge!
Tuesday, 30 June 2015
Banners Broker Update
Update from the Liquidators, David Rubin & Partners.
'At present, there is no deadline to submit claims. The Joint Liquidators are still in the process of conducting their investigations into the affairs of the Company and tracing the flow of funds. Significant progress has been made in relation to the ongoing investigations. However, you will appreciate that they are unable to go into the specific details of these investigations as the matter is still far from being resolved. We will update you in due course.'
Contact Details:
To add your name to the Creditors List please contact the Liquidators David Rubin & Partners at this website:
http://dm.epiq11.com/BBB/Project
You still have plenty of time to apply. Cut off dates will appear here when they're available.
For more detailed information, please see this
page:
http://taratalkstoday.blogspot.co.uk/p/court-documents.html
Monday, 22 June 2015
RevUpYourIncome - GONE?
It appears that Paul Flanigan from RevUpYour Income has skipped town. He is in Spain, claiming to have no internet access and PAYZA has frozen accounts. More to follow later...
Thursday, 18 June 2015
Simon Stepsys - ASA Ruling
Great news tonight! A complaint was made to The Advertising Standards Authority about Simon Stepsys and his misleading advertisements.
I am delighted to tell you that the complaint has been UPHELD:
'The recommendation is that your complaint is UPHELD. Simon Stepsys's ads must not appear in their current form, earnings claims cannot be made unless they can be substantiated, and he cannot claim selling is not involved if that is not the case...'
I am delighted to tell you that the complaint has been UPHELD:
'The recommendation is that your complaint is UPHELD. Simon Stepsys's ads must not appear in their current form, earnings claims cannot be made unless they can be substantiated, and he cannot claim selling is not involved if that is not the case...'
The next stage in the process is that the case will be heard by the Advertising Standards Council.
I'll keep you posted of all future developments.
Wednesday, 17 June 2015
Paying Safely
So you've found an Internet Programme, done your Due Diligence, researched and googled it and your happy to go ahead. Then what?
You have to part with your money.
Scammers are getting wise to the 540 day Chargeback rule so are refusing to take a credit/debit card as payment as they know they could lose all there ill-gotten gains.
So how are they taking money?
BANK TRANSFER.
It's the same as cash and offers practically ZERO protection against FRAUD.
Payment processors can offer LIMITED protection with-in a certain time frame but it is hard to do.
Your best protection is a CREDIT card. ALWAYS USE ONE if you can.
The Golden Rule:
If a programme will ONLY accept a Bank Transfer STAY AWAY! 99.99% certain to be a Scam!
You have to part with your money.
Scammers are getting wise to the 540 day Chargeback rule so are refusing to take a credit/debit card as payment as they know they could lose all there ill-gotten gains.
So how are they taking money?
BANK TRANSFER.
It's the same as cash and offers practically ZERO protection against FRAUD.
Payment processors can offer LIMITED protection with-in a certain time frame but it is hard to do.
Your best protection is a CREDIT card. ALWAYS USE ONE if you can.
The Golden Rule:
If a programme will ONLY accept a Bank Transfer STAY AWAY! 99.99% certain to be a Scam!
Sunday, 7 June 2015
Digadz - ALL OVER!
Digadz has been declared dead by Marius Pederson , BJ's right-hand man.
Read Marius's pathetic attempt to distance himself from the demise of Digadz:
http://taratalkstoday.blogspot.co.uk/p/blog-page_23.html
Read Marius's pathetic attempt to distance himself from the demise of Digadz:
http://taratalkstoday.blogspot.co.uk/p/blog-page_23.html
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