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HummelMarketing
Member
Joined: 18 Nov 2008
Posts: 7
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# Posted: 18 Nov 2008 19:42
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Anyone out there bought into the affiliate-shares
money cycling program yet? I have been advertising
this and now am wondering if it is a good idea. I have
my reasoning as to why I feel this way, but wanted to
get some other ideas too.
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mountainmom5
Joined: 30 Aug 2007
Posts: 1441
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# Posted: 21 Nov 2008 23:54
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I am not familiar with it so can't help you much - sorry!
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geno
Member
Joined: 15 Aug 2008
Posts: 17
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# Posted: 4 Dec 2008 23:32
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Has this program been paying out or is it a scam?
Anyone?....
Geno
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jhale296
Member
Joined: 5 Dec 2008
Posts: 2
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# Posted: 5 Dec 2008 12:58
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I bought a share in this one on Oct 1, 2008. On Oct 5, 2008, I had almost $3,000 in my account so I requested withdrawal of $2,000 and reinvested the balance. Then on Oct 10, 2008, I had almost $13,000 so I requested another withdrawal in the amount of $10,000 and reinvested the balance. My account has not moved one iota in the time since then.
The website promises that withdrawals are paid within 4-5 weeks. It has been almost 9 weeks since my first request was placed, 8 weeks since the second request was placed. I haven't paid one red cent.
The admin was very responsive to support tickets in September and early October, but not since 10/10/2008. We still get a couple e-mails each week, but they are advertisements for other programs, nothing about Affiliate Shares.
Jenni
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happywife
Joined: 14 Aug 2007
Posts: 1002
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# Posted: 6 Dec 2008 01:50 · Edited by: happywife
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Jenni,
I don't know anything about that program, but the numbers alone send up a huge red flag to me. Do they have a phone number you can call and speak to a real person?
You didn't say how much it cost to 'buy a share' but I sure hope it wasn't too much. You may never see any of the money involved.
It's always so tempting to want to believe these tales of making big money out of virtual thin air. Deep down I think we all have that simmering hope.
When you try to let your rational voice be heard, you will ask yourself, if YOU had something that was making that kind of money, would you hand it over to everybody and their brother for X amount of dollars? Unless you are uncharacteristically altruistic, you would not.
Stomp down on it the next time that little weed of GRQ rears its ugly head. It only leads to wasted time, wasted money, and heartsick disappointment.
Blessings,
Angie
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jhale296
Member
Joined: 5 Dec 2008
Posts: 2
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# Posted: 11 Dec 2008 13:28
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The shares cost $25 each, so it wasn't a big investment. the theory behind how the program is SUPPOSED to work is they take the members money, buy into various Affiliate programs and then promote those programs. As folks buy the products or sign up to be Affiliates in the other programs, the funds or profits are used to pay the members of Affiliate Shares. I thought it sounded pretty good, kind of a polling of resources.
When the amounts grew so quickly (I had a lady join from my link with $175 and her account was at $51,000+ in 3 days) I kind of got suspicious but decided to give them the benefit of the doubt until I was proved wrong, which it appears I have been.
It is now Dec 11th and I still haven't heard anything from these folks.
I did pull some names out of the e-mails that the admin was sending out. The Administrator of this program appears to be a guy by the name of Richard Sherman, but I can't find any information about him on the internet. There is a physical address listed in the e-mails, but when I type it into a reverse directory I get nothing. If I leave off the apartment number I get several listings but they all say "phone number unlisted" which indicates to me that it is one of those mail box drop places.
The other two names that I could find where the admins of a couple of the programs that Mr. Sherman is continuously trying to get us to join, Nick Marks and Darren Salkeld. I found TONS of information on the internet about these gentlemen and not too much of it was positive.
I merely posted my experience with this program to warn others because I still see lots of advertisements about Affiliate Shares when I look it up in the search engines but very few warnings about it.
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happywife
Joined: 14 Aug 2007
Posts: 1002
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# Posted: 11 Dec 2008 17:00
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Hi Jenni,
Thanks for explaining it all. I'm so glad it was only $25 you lost! It's so annoying that people are allowed to 'get away' with that kind of thing. Personally, I don't think they really do get away with it in the long run. I always figure that the Lord will sort them out.
It was kind of you to come here and warn others so that they don't fall for the marketing hype. A lot of people do come to these forums for that very reason.
Blessings,
Angie
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Newbie Shield
Joined: 22 Sep 2007
Posts: 1781
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# Posted: 11 Dec 2008 18:38
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Hi HummelMarketing, Geno, and Jenni,
That one sound like a typical pyramid scheme that is similar to one the wrecked havoc a short while ago in this forum and on other forums.
You can read about it right here on our forum:
http://www.work-at-home-forum.com/41_0.html
Sorry you've had trouble with it. If something sounds too good to be true, it's probably something to avoid. I suggest contacting the Attorney General in the state involved with the scheme if you can determine the state. Else consider contacting the BBB or the FTC.
Good luck,
~Newbie Shield~
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