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