Wednesday, August 24, 2011

Elite is dead

On 13 August 2011 Elite died the death of all HYIP’s and ponzi schemes.

The site is not accessible any more. It is the typical end of another HYIP or Ponzi scheme after having scammed thousands of investors. As faceless Managing Director of Elite, Leon Reiter, said in his interview with MNO, only time will tell who’s here for the long run – the lifetime of Elite proves that it was just another HYIP, barely making it for six months. What’s more, this short lifetime was planned right from start, but it was kept hidden from members in order to attract more investors.

This now becomes obvious from the new Facebook page which was opened by faceless Alex Reiter,
where Alex claims:"The decision to close EA and go private was made in april yet we kept paying for 3months,".

Once again totally unprofessional,starting with: Hello dear members i am Alex Reiter.I have the permission to notify you that your dear EAWC will be going private from monday the 3rd of october 2011.We have completed payouts to everyone who deposited via alertpay except a few which we will complete..., leaving members guessing whether this is to be believed or not.
There are ,however, several indications that it indeed is Alex Reiter behind this page.

1. The obvious contempt for “peanut investors”
2. Some exact numbers on investors
3. Blaming members for filing disputes

Putting the blame for problems at the feet of members has become a sure sign for the authenticity of EA admin updates. First, Members were blamed for double payments that were processed. Now members are blamed for filing payment disputes with AP after not being updated for more than two months. This action is now used as an excuse to scam 12489 AP members out of their money.

Ironically , the admin of Elite still distance themselves from being an HYIP: “most take all programs as hyips which we as a company ALWAYS try to distance ourselves from,” even after all facts have proven Elite to be just another regular HYIP. Interestingly the scam Cherrie Shares did the same.

So now all who still have outstanding payment requests are waiting for August 29 to get back some of their investments, though this may once again prove to be an empty promise, like the many we already had from Elite

Friday, July 22, 2011

Elite paying selectively on a weekly basis.

Elite Alliance Wealth Club is not yet dead.

From payment proofs posted on the net the following becomes clear:
1. Payments are now processed on a weekly basis, usually on a Monday.
2. Payments are still processed selectively using Alert Pay.
3. The waiting time for requests to be processed has increased to a month.

Even though there is no guarantee that this will go on, let alone improve, it does prove that Elite Alliance is not dead yet.It also lets peoples hopes live on.

Of course it is possible that Elite is going through a rough time, having to recover from losses incurred from double payments that were processed accidentally, as mentioned in Leon Reiters last update from 13 June 2011. Diehards have swallowed this statement as an explanation for the current problems. It could, however, also just have been an excuse from the side of EA admin. Only time will reveal the true facts here.

The situation being as it is at this moment, members now re-invest rather than withdraw. In view of the current waiting time, this seems to be the best strategy at this stage. Instead of having a withdrawal request hanging pending for weeks, that money can just as well earn interest for that time.

As to the admin of Elite Alliance Club having abandoned communication with members nothing has changed yet. This fact should serve as warning that all is not rosy yet and the final collapse can still come at any time.

Thus I still advise all would-be investors to exercise extreme caution here. Signing up without investing right now just for being a member if Elite Alliance goes private again, cannot be of great value either, since admin already stated they would only go on with trusted and active members. Those who advise people to just sign up for this, only have their own agenda in mind.

If you have money to play with and are looking for a proven HYIP, then check out this system. It is paying me daily within seconds, its customer service is of the highest quality and its plans cater for a variety of investors.

Saturday, July 9, 2011

Is Elite Alliance still paying?

The last payments from Elite were made via AlertPay on 2 July 2011.
Those were for requests dated 22 June. All payment requests dated later than 22 June are still outstanding.

Is there the slightest hope for people who are still waiting to get paid?

We know by now that Alert Pay and STP account holders are the last ones that may get paid when an HYIP goes belly-up, because these two payment processors will block accounts when members have complaints.
This then possibly is the reason for no more payments to AP this week, since many members did follow the instruction posted on “Gurnam” Facebook which stated:
“please go to AP/STP site create a Transaction Dispute to reverse your deposits, We need your deposit information to create new AP/STP payment list.”

Now as to how long the investigations will take is any bodies guess. If the admin of Elite is honest and answers Alert Pay queries, the problem could possibly be solved soon. If they, however, ignore AP like they ignore their investors, this may mean the final end for Elite

Diehard believers in Elite Alliance Club re-invest their funds there.
Well, this actually is the best option left, seeing they cannot withdraw any funds. Who knows, it may in the end prove to be to their advantage if Elite still proves their claim that they are no HYIP, which seems highly unlikely at this stage.

Seasoned investors believe in diversification.

Since EA management not only ignores members requests, but also has abandoned the back office as well as their official Face Book page, spammers now take their chance to promote their various HYIP’s there, hoping to find new referrals amongst Elite Alliance members.

For those who don’t want to take the time to investigate other options, this may seem the best way to find something else. But depending on hearsay only may in the end prove to be another mistake, like most of them ended up in Elite Alliance on the recommendation of others, without any of their own investigations.

I am investigating some options at this stage, following the steps of doing due diligence first, as described in previous posts. Customer Support now is a high priority for me, having learned the hard way with Elite If I don’t get an answer to a support request within 24 hours on week days, that system gets scrapped off my list immediately. If a site has live support, I visit it at various times during the day to see if it shows to be online and I’ll test it too.

I am sure that the non-existent support system of Elite was the main reason and start for its present demise.

Wednesday, July 6, 2011

The proverb “No News is Good News” does not apply to HYIP’s.

At this point in time Elite is covered in silence. With no new payment proofs coming in, no replies to support tickets and no updates in the back office it looks as if Elite Alliance is history.

Has this once promising HYIP followed the path of all ponzi schemes?

Seasoned HYIP players/gamblers call a program Scam as soon as it starts paying selectively.This is the case with Elite now. Payments were made to AlertPay and Solid Trust Pay members, while no payments went through via Liberty Reserve yet. This post on MNO blog gives a plausible reason for that.

Diehards, on the other hand, see those payments as proof for their faith in a program. I would say it’s grabbing straws to stay afloat as long as possible. Sure nobody wants to lose money, but when one is into HYIP, losses are part of the deal and have to be accepted.

Ok, so Leon Reiter denied being a HYIP in his interview with MNO.:
I would like to make it clear once and for all that we are not a “HYIP”.

Then why did he list Elite Alliance there in the first place?

By listing EA on MNO Leon contradicted his statement above himself and opened the way for being put on Problem and Scam status in case of payment discrepancies, which sure enough happened far sooner than expected. And instead of an immediate reaction to enquiries from the side of MNO, Leon Reiter ignored MNO (See this MNO blogpost), just as he ignores support requests from his investors, contradictory to his statement under Question 8 of the Interview:
Members can request support via Support Tickets feature within their members area.

Some people still claim that Leon Reiter is honest with his members. By the life of me I cannot see on what facts they base their claims except blind faith in printed and recorded words. None of them have ever seen or spoken to him personally. Most of these have never even tried to contact either Leon or Alex by phone. Yet, even when confronted with reverse facts, they’ll look for and find any excuse to deny them.
They remind me of the picture of the ostrich sticking its head into the sand when danger is imminent. (Not that ostriches do that, by the way.)

It seems to me Leon Reiter, General Manager of Elite, had these people in mind when he talked about “permanent and trusted members”, blind followers, who swallow every word of his as being true.

Conclusively let’s face the fact that it will be a miracle for Elite to reach its former glory, if they ever manage to make a comeback.

Tuesday, July 5, 2011

Leon Reiter’s Interview with Money News Online

Recent changes to Elite invitation page as well as on Money News Online deprive visitors of an important piece of proof of the existence of the General Manager, Leon Reiter.

Together with other links that used to be on the invitation page, the link to Leon Reiter’s Interview with Money News Online has been taken off that page. The reason for that move is anyone’s guess. It does prove, however, that somebody is still working on the site.

MNO monitor has completely removed all links to Elite Alliance, even under their Scam page, as if it never existed. Again anybody’s guess as to why this drastic move was deemed necessary.

So, in order to save you time searching for that interview, just click HERE. I can’t promise that this link will stay good, but for the time being it still works.

For me this Interview is proof of Leon Reiter’s existence, especially at this point in time, where all other communication between the admin of Elite and its members has come to a complete halt. It serves as a straw to hold on in turbulent waters and although a straw like that is not strong enough to keep you afloat and believing for very long, it can help for a while.

It’s the same with recent payment proofs published online. They keep members hope alive. With Alert Pay and STP payment requests dated 22 June being processed 4 July, any requests made thereafter also have a chance of being processed, albeit later.

Yes, it’s a real see-saw ride at this stage, one day up, the next day down. Those who have been gambling with HYIP for some time know it’s a gamble from the start and thus accept losses, which invariably occur in this industry.

As to Elite being elite, cream of the crop, the best – well, hmmm, concerning what??? Definitely NOT in members support.

Monday, July 4, 2011

A Gloomy Picture for Elite Alliance Club Investors

Today 4 July 2011 – Elite Alliance Wealth Club Investors only have hope left?

This becomes obvious from the recently created Facebook page for EA Loyal Members, which was created to escape from the spamming on the official Elite Alliance Club Facebook. As such, it is a relief for all who tried to find a relevant EA post on the latter.

It seems as if some people received payments from EA on Saturday into their LR accounts, which was announced by the guy who claims to be Gurnam, the programmer of Elite Now if one can believe those is another matter.
There are many people, however, who are waiting for their payment requests to be met.

So once again, in view of these facts, I cannot in good conscience advertise or promote this to any one right now. Will keep you updated should there be any change.

UPDATE 4 JULY: More payment proofs coming in. You can check them from HERE.

As to doing Due Diligence:
I think it’s important that one knows about the tricks of the ponzi trade.

Ponzi schemes use certain tricks to encourage more confidence and new investments such as: issuing debit cards, new higher paying plans, bonuses, referral contests, Alert Pay account being blocked, closing door to new members or additional deposits, having some problem with their “real business”, which they have to deal with first as well as coming up with elaborate UPDATES about the future of their business.

Knowing about these tricks can make you aware of the true nature of a system when you see them appear in the member area. This awareness can make all the difference between losing much or just a little, because you can get out quickly once you see them.

Friday, July 1, 2011

Elite Alliance .net back Online

D-Day is there, Elite Alliance is back online. For how long?

It may only be a question of time before members once again get a “bandwidth limit reached” and “this account has been suspended” message when trying to log into their back office. With every new month the bandwidth allocation starts from scratch. This could be the only reason for the site to be online again.

There still is no life sign of either Leon or Alex Reiter to be found anywhere. There is no update in the back office, no new activity report, no answer to still open support requests, no reply to emails, no reply to messages left on their telephone service and no sign of either of them on Facebook. That makes me cautious to trust the truce.

As for me then, Elite Alliance D-Day has started without any major positive development. The only thing that keeps me from dropping this is the fact that I can’t do anything at all without my secondary password.
Riding the see-saw as a child was fun for a time, but you can’t do it non- stop. As a grown-up, see-saw riding is no fun at all.