RIP genius funds...
By victorywp
@victorywp (3524)
United States
March 16, 2010 12:17am CST
it is the end of genius funds. i lost about $60 overall playing in this hyip.
on february 11, 2010, the executive director of the british columbia securities commission (bcsc) has issued a temporary order against genius funds, and is alleging in a notice of hearing that the cyprus-based company has breached various securities laws. the executive director issued the temporary order after bcsc staff was alerted that a vernon-area individual had recently wired $25,000 to the company. official link: http://www.bcsc.bc.ca/comdoc.nsf/allbyunid/161d573b853ca17a882576c8005f004f
on march 11, 2010, cyprus securities and exchange commission officially warned investors that genius funds is not permitted to provide investment and ancillary services in the republic, and is not regulated by the commission and the authorisation with the number CIF 087/07, which genius funds alleged that it possesses, is fake. official link: http://www.cysec.gov.cy/Downloads/Investors/???e?d?p???se?? - ?_?_/2010/Warning 03.11.2010 re Genius Invesment (Cyprus) Ltd.pdf
4 people like this
22 responses
@redthaidevil (1047)
• Thailand
16 Mar 10
Never thought GF was legit any how, no HYIP can keep up those rates, it is impossible and certainly fraud. I'm even surprised that it stayed on for 2 years or so. I"m not a huge fan of anything as Im' sure most of these are scams, but if your a gambler, you can make some easy money. Just dont get greedy.
1 person likes this
@amjadmacs (467)
• France
16 Mar 10
I agree with you. I am also not big fan os HYIP. Because I think all are scam. But I could be wrong about it. I never there are some good and honest HYIP website. But I am not able to find one of them.
1 person likes this
@amjadmacs (467)
• France
16 Mar 10
It verifield at legit site ( for now i mean) I may be interested in investing 5 dollars or so in verifield. I hear to much about verified but not sure whether is a legit website or not. Have you been paid or not from verifield ? Let me know
1 person likes this
@victorywp (3524)
• United States
16 Mar 10
i have been investing in a lot of hyips. but overall i lost money because of genius fund. now i still have one left which is verifield. 
@celticeagle (168269)
• Boise, Idaho
16 Mar 10
You do have to be careful don't you? Sorry you had this experience. So hard to determine which sites are repretable and which are not. Be glad it was only $60 and not a bunch more zeros. Hehe Thanks for letting us know about this and I hope no one else on here had this experience.
@celticeagle (168269)
• Boise, Idaho
17 Mar 10
I, for one, know nothing about this Genuis Funds, have never heard of it until you posted about it.
1 person likes this
@victorywp (3524)
• United States
17 Mar 10
i have checked that genius funds has a traffic rank higher than mylot. that simply means that genius funds has more members and it is more popular than mylot. but in this discussion, i only see that i am the only one who suffered loss in genius funds. maybe most mylotters are not investing in genius funds. 
1 person likes this
@kun2349 (23381)
• Singapore
17 Mar 10
OH well, dun be too upset with the $60 u lost with them.. It's just like buying a lesson, with that little money ^_^ Dun see it as a bad thing, for u might lose even more, if the whole thing drags on longer?? hehe ^_^
I too have lost money on Hyip programs before, but not as much though.. hehe ^_^ ALl i know is that, most HYIP are not supposed to be running long.. Once they are past the 1 month window, it's time to be wary, and withdraw everything ^_^
1 person likes this
@victorywp (3524)
• United States
18 Mar 10
yeah, i also have the same thought with you. i think verifield should be no.1 now. in fact, i love verifield since the beginning and have invested most of my money there. i just don't know why people preferred genius funds over verifield all the while. 
and you are right, i have splitted my money investing in a lot of hyips. but now, i just focus on verifield and hyifund. 
and you are right, i have splitted my money investing in a lot of hyips. but now, i just focus on verifield and hyifund. 1 person likes this
@sunnycool (12714)
• India
17 Mar 10
I think its time for Verifield would be apt for the Number one Spot in HYIP's 
.Its always better split our money in various sites rather than investing in a single site
.Its always better split our money in various sites rather than investing in a single site2 people like this
@jambi462 (4576)
• United States
17 Mar 10
I would have probably gotten ripped off if it wasn't for their 50 dollar minimum deposit. Luckily I didn't have enough for it and I deposited my money into hugmoney instead. I recently got my investment back from them with 22% back on it. It looks pretty legit. Sorry to hear about your bad luck. Hopefully this site is shut down so that it will prevent people getting ripped off in the future.
1 person likes this
@victorywp (3524)
• United States
17 Mar 10
now i am counting on verifield, which is another long running hyip and claimed to have registered legally in cyprus too. 
@victorywp (3524)
• United States
17 Mar 10
genius funds is no.1 and all-time favourite in the hyip world. they hold the highest record of $25,000 invested by a member into genius funds recently. just imagine how many others who invested below $25,000 into them. 
@myfb2009 (8296)
• Malaysia
16 Mar 10
Yeah, seems like this time Genius funds had come to its end. It had been 2 days i am still unable to access its website. I had been one of its members, just a few months ago and nearly in profit and now it suddenly gone. By the way, i don't invest much here, so i don't suffer much loss. Seems like now, all the long-term hyip sites can't really guaranteed profit for its investors. So, i think it's better be careful when investing into any hyip sites, as we never know when the owners of those hyip sites decided to close their companies.
1 person likes this
@myfb2009 (8296)
• Malaysia
17 Mar 10
Lets wait and see how does genius funds goes. As i heard from some forum, the live support is still active. Only time will tell how's it. As for Verifield, i had been with it for nearly a year and it's always paying without fail, all the time. But, better be careful with all hyip sites.
1 person likes this
@victorywp (3524)
• United States
17 Mar 10
yes, you are right. verifield is my favourite hyip even if compare with genius funds. i like its short-term plans and minimum investment. 
@victorywp (3524)
• United States
16 Mar 10
i think the owners of genius funds did not decide to close the company so soon. it happens because someone wired $25,000 to genius funds and that alerted the bcsc staff to investigate 
.
.
@sunny68 (1327)
• India
17 Mar 10
well...that's news for me. genius funds was supposed to be a reliable one. i was just planning to invest there. i am new to hyip and was waiting to accumulate enough to invest. thanks for the warning. genius funds was on my priority list. till date i have only invested in hyifund ($1) and am compounding the interest as of now. i am not very optimistic though and am only experimenting. another possibility is that genius funds might as well resolve the issue...because it is a lucrative business and they will not go down without a fight...i guess we can only wait and watch...sorry about your loss and good luck in future..
1 person likes this
@victorywp (3524)
• United States
18 Mar 10
i don't know what they can fight for since they don't even have a valid license under cyprus securities and exchange commission. the license with the number CIF 087/07 that they possess is fake. 
@victorywp (3524)
• United States
19 Mar 10
that's true, sunny68. the issue is not related to their fund management capabilities, i supposed. let's see what's the outcome after april 7th, 2010.
@sunny68 (1327)
• India
18 Mar 10
what i meant was that the issue is not related to their fund management capabilities and legal issues can be sorted out (they may have to pay a penalty and apply for license). however their credibility has taken a dent. what remains to be seen is their intentions which only time can tell.
1 person likes this
@browneyed (2522)
• United Kingdom
16 Mar 10
I'd heard really good things about Genius Funds, had read a lot about them and was thinking of investing a small amount at some point. Though I'm relieved I didn't invest, I do feel sorry for you (victorywp) and other who've been effected by this recent happening.
1 person likes this
@rosdimy (3926)
• Malaysia
16 Mar 10
By design no HYIP can last long. The basic question that one should ask is what type of investment can bring back high returns within a short period of time? Most, is not all, are based on the Ponzi scheme, where those who come in late payor those who joined early. At one point the number of new members is insufficent to ensure that the scheme runs smoothly. That is one of the reasons why members are encouraged to reinvest.
1 person likes this
@rosdimy (3926)
• Malaysia
21 Mar 10
Well, if you want to put it that way.
No, theirs is not a Ponzi scheme. Some (I think you understand why I use this word) of the money invested is used to keep the economy going. The result is a real business transaction. Compare this with Ponzis in which there is no real business activity.
1 person likes this
@pierone (1894)
• Italy
21 Mar 10
So you means that they work EXACTLY as the National Debt? ;)
In the national debt handling too, the later investors money are used to pay the principal + the interests to the previous investors, and anyway this ponzi scheme is running since a century ago, more or less.
So could we says that the world governments are the biggest and much more trustable HYIPs?
Or they are just the biggest scammers in the world? :)
@victorywp (3524)
• United States
16 Mar 10
yeah, that's true. the concept about hyip as you mentioned is true. i still have active deposits in verifield. now i am kind of afraid that verifield too will come to an end soon. as mentioned, the concept of hyip is there.
@victorywp (3524)
• United States
20 Mar 10
good for you, chiepao. i was really unlucky there. but i am glad that i saved you. yeah, hyip is really risky.
@faridmadeabillion (1127)
• Bangladesh
17 May 10
I wonder that is there no genuine investment company online where we can invest our money without worry?
Have a good day.
1 person likes this
@victorywp (3524)
• United States
18 May 10
hyip can never be legit, so investing in it is at your own risk.
1 person likes this
@sunnycool (12714)
• India
17 Mar 10
Sorry to know that you have lost $60 man----i came to knew about this(it turning scam) ten days back from my friend who invested more than $300 in it---it has literally stopped paying all the members for few days.These HYIP are always unstable we never knew when these sites go down---i have seen many investing their hard earned money in them looking for high returns---may be you guyz should be keen in investing in hyips.great day.
@victorywp (3524)
• United States
18 Mar 10
yeah i have invested more than $300 into genius funds too. but i lost $60 on overall. how about your friend? 
@joseline0568 (355)
• Philippines
16 Mar 10
I am sorry to hear your loss. A few days ago, I was curious about investing in those funds and asked around mylotters if it is legit. Most of them were on the negative.
I also read your link regarding the possible lawsuit as a result.
1 person likes this
@victorywp (3524)
• United States
16 Mar 10
luckily you only asked about it a few days ago. if you have asked earlier, you will surely get 99 positive out of 100 person who know genius funds. it is just recently that this problem occurs. i still able to withdraw money a few days back.
@andryan7legends (1297)
• Indonesia
18 Mar 10
Thank you for sharing this. Actually, I don't really know about HYIP system. That's why I haven't join Genius Funds or other site like that. It is to risk I think, because we can lose many money, ya?
1 person likes this
@victorywp (3524)
• United States
18 Mar 10
yes, we could lose money in hyip and it happens most of the time. it is hard to find a trusted and reliable hyip. by the time a hyip becomes trusted and reliable, it is near the end of it.
@zandi458 (28102)
• Malaysia
16 Mar 10
Investing in hyip is high risk. So sorry to hear that you have lost money investing in this dubious hyip site. This serve as a warning to potential investors who wishes to invest online to keep their investment minimal to avoid being sucked by these online sharks. Thanks for the info.
1 person likes this
@drannhh (15219)
• United States
16 Mar 10
Yes, and the problem with these HYIP fraud schemes is that the money that is lost by people who play falls into the hands of criminals who use it for other illegal and/or immoral activities. Accordingly they not only steal your money, but your honor as well.
@victorywp (3524)
• United States
16 Mar 10
yeah, and steal my time as well. seems like i am the only one in mylot suffer lost in genius funds?
1 person likes this
@victorywp (3524)
• United States
16 Mar 10
yeah, i understand about hyip. i have been investing in a lot of hyips for more than a year. but until the collapse of genius funds recently, my loss became more than profit now. 
@victorywp (3524)
• United States
18 Mar 10
no matter what, they still hold the highest deposit ever (in the yip world) received from a single member, which is $25,000 at one time. 
@victorywp (3524)
• United States
16 Mar 10
yeah, it is truly a sad news. i have been using it to earn quite a good number of money for nearly a year. but now i have lost about $60 in overall, after i reinvested a portion back on january 2010.
@Redjeki1989 (21)
• Indonesia
31 Mar 10
Sorry to hear that about losing your money $60. But for me, i lost $200 in Genius Funds, but i am okay with that. I will learn experience about investing hyip carefully next time. ugh, i knew that my feeling is not invest in Genius Funds in the future. I should invest in Verifield rather than Genius Funds, but i am okay with that because my mistake
Anyway, believe it or not (just don't blame me), i heard that there is chance that Genius Funds will be back online after 7th April. You can check this link http://www.goldarena.net/forums/index.php to find some info if you like
Maybe this sound is odd, but i am not losing hope like this even i lost my money in Genius Funds. Just sharing.
That's all
@victorywp (3524)
• United States
31 Mar 10
yeah, luckily i did not invest all my money into genius funds. i still have another half at verifield.
we just have to wait and see whether genius funds will be up again.
we just have to wait and see whether genius funds will be up again. @victorywp (3524)
• United States
1 Apr 10
yes, the last news i heard was that they changed their website base from cyprus to united kingdom. anyway, we will see what happen after april 7, 2010.
@Redjeki1989 (21)
• Indonesia
31 Mar 10
me too, i still have another my money in verifield, but too liitle
yeah, let's hope so that Genius Funds will be up again if some information are correct or not.
@abuttsab (124)
•
16 Mar 10
hyip sites are a scam sites. but there is a way to scam them too. if a group of people invest in it together as referals of each other. hyip sites have tendency to pay back first and second transactions, latter they turn into scam. when they have earned a enough they should quit that site!!
@victorywp (3524)
• United States
17 Mar 10
i think you are talking about those new, unreputable, short-term, unmonitored hyips. that is totally different from genius funds. for your information, genius funds has a traffic rank higher than mylot. that means the members in genius funds are more than mylot, and genius funds is more popular than mylot.
