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Discussion in 'HYIP - High Yield Investment Programs' started by jambutty, Mar 19, 2010.

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  1. marie2success

    marie2success Super Moderator

    Dear GTSGT Partners,

    If you haven't noticed yet, please see this thread "The Very Sad News":

    We have lost our dear friend Jambutty, founder of the Golden Talk Syndicate Gravy Train,
    exactly three years after establishing this project.

    He managed to bring this venture to a good end.

    However, perhaps we may get something out of our last remaining investment.
    If so, I will keep you updated and try my best to follow dear Jim's example to manage the last steps of our project successfully.

    Jim - we will never forget you. :cry:
  2. rainbowrunner

    rainbowrunner Member

    I feel as though I have lost a very dear friend and I never met him in person. It's so sad.
  3. mpetersrx7

    mpetersrx7 Member

    Wow. Very sad news indeed. We will miss you Jim.
  4. Forumtech

    Forumtech Active Member

    Very sad news i just read here now. So, he didn't survive this sickness. Sorry dear great founder and friend here. We all miss you so much now. May your soul rest in peace.
  5. rsa10

    rsa10 Active Member

    So sorry to hear this news. I a bit late in knowing this, because I was ill the whole week last week. I just started browsing here and realized the greyed logo we have but did not realized this was for our dear Moderator. :( :cry:
  6. beanstalk

    beanstalk Member

    Oh! What very sad news. I'm sorry to have not realised earlier, but have not been visiting GT lately due to other commitments.

    It's hard to imagine GT without Jim- his blue moderator name so frequently highlighted at the bottom of the page indicating his presence, his countless posts sharing his insights and experiences of hyip as well as those keeping forum members honest and accountable, and my inbox remains filled with many old PM conversations mostly with Jim. When I first ventured into the hyip world it was Jim's guidance and support which most helped keep me somewhat sane in what is a very topsy- turvy arena with rules and ploys unlike anywhere else.

    Thank you Jim for always being available for assistance, support, and online friendship. You were always firm but fair, and always efficient and dependable and insightful. A trustworthy online friend and mentor. RIP.
  7. Forumtech

    Forumtech Active Member

    It had been so long i never visited this thread, after the death of Jim. Here now, am some how confused because of the team, whether the investment we have is still carried on, even after our leader's departure. Nothing seems to be happening again here. So, could any active member here in our team tell how things has been going on?
  8. marie2success

    marie2success Super Moderator

    Hi Forumtech and all, there is no real progress regarding our 10MDC account yet. As you know, the program has been closed last year and will be liquidated because the owner Mr. Helmut Kalle (who is in his early seventies) is too ill to continue Forex trading after two strokes, as he told us.

    Moreover, the real reason is that someone denounced it to the German authorities because he collected funds from the members and traded without having a license (just like so many other HYIPs). And so the German BaFin (Federal Financial Supervisory Authority) stopped the program last year and is forcing Mr. Kalle to repay the members. This is supposed to happen via an agency from Dubai who is charged with the liquidation.

    The BaFin website states (translated):

    "The "ISA World Ltd. (10MDC)" is bound to repay all investors absolutely repayable funds they adopted on their business accounts for Mr. Kalle, as far as the claims for repayment of the investors were not satisfied otherwise.

    The regulation of the BaFin is immediately enforceable by law but not yet legal valid."

    Note this passage "as far as the claims for repayment of the investors were not satisfied otherwise". I'm not sure but I would interprete this sentence like this: only those who aren't in profit, will get something back.

    Thanks to dear Jambutty's wise foresightedness and management, our 10MDC syndicate account ended being in profit, so I'm afraid that we are not eligible to get a refund.

    Anyway, we can't do anything at the moment except waiting for an email from that Dubai agency who will, according to Mr. Kalle's latest statement, contact the members, asking for their bank details.

    You see, it's a long-winded story and I'm not sure what to believe or not...
    anyway - will keep you updated.
  9. Forumtech

    Forumtech Active Member

    Thanks friend, you have really tried so much to gather these news. Well, since we reached to profit on 10MDC, there's no need to bother much here. Maybe to make another plan for this team.
  10. marie2success

    marie2success Super Moderator

    After the Liberty Reserve shut down, the remaining money at our LR account disappeared into nirvana as well.
    $3.82 only, luckily.

    10MDC owner is claiming now, that the 1st stage of refunds has happened already - EUR 45,000.
    And the second would be about to happen now.
    But none of my contacts has received an email where they ask for the bank details - let alone any money.
    We guess it's just delaying tactics....
  11. rainbowrunner

    rainbowrunner Member

    Thanks for the update. I never really counted on 10mdc but I'm glad to be updated even if it's just about delaying tactics.
  12. rsa10

    rsa10 Active Member

    10MDC is repaying how will they repay us for this? I am just curios and if that will ever materialize how can we all receive the money now that LR is gone. The only link we have on each other. But thanks for the update it may look like we still have a glimmer of hope of recovering our money there but I am not expecting this much since it has been sometime that they have not paid us.
  13. marie2success

    marie2success Super Moderator

    You're welcome :)

    rsa10, that's a good question. If they ever pay, they pay to bank only.
    Jambutty ensured that there would be someone who can continue GTSGT after he is not able to do it anymore by giving me the credentials to our 10MDC account and linked email account.

    So I would have to order the payment to a bank account and then transfer it to a different payment processor - whatever this will be - and from there to the member's payment processor accounts.

    Only a handful of the 50 partners is active here - I'm quite sure many of the others are out of reach or out of business, have abandonded their old email accounts, don't have other payment processor accounts established or have even forgotten that they were ever a member of GTSGT.*sigh*

    OK, this is all theoretical anyway. Honestly, my hope is decreasing from day to day because I did not hear from anyone that he has been contacted by them yet. Even my most reliable contact who used to be a member of 10MDC support staff, has lost the contact to the owner since last September and he is very doubtful of the sincerity. We only hear excuses, promises, delaying.
  14. rsa10

    rsa10 Active Member

    Well I am semi active in here. Although I know Jambutty was able to liquidate the remaining of the fund in here I guess we are technically done with the group. But then any good news for those sites that remain hopeful(no matter how remote it is) will make this group alive.

    I am thankful the Jambutty has found a trusted one like you Marie I deeply appreciate that you still update us in here anything that could liven up our hopes. :D :thumbsup:
  15. Forumtech

    Forumtech Active Member

    Actually i have visited here whenever i come online, because i don't do that like i use to before. Just like rsa10 said, if anyone has the access, he/she can give us the updates here. We can as well know if we can move on or dump this group.
  16. rainbowrunner

    rainbowrunner Member

    I still check in here occasionally. Thanks for staying with it Marie.
  17. marie2success

    marie2success Super Moderator

    Nothing new from 10MDC since early June, when they assured us that every single member will get their funds back,
    in chronological order according to the internal member ID number. Ours is 2974. So there are thousands of members who will come first.
    If ever, it will take years I guess. Honestly, I don't expect anything anymore...
  18. Forumtech

    Forumtech Active Member

    Like you said, it will actually take years, if that is our number. Anyway, lets watch and if we can continue with other investments sites as usual, even if it will cost something, then we can discuss about it here.
  19. rsa10

    rsa10 Active Member

    I somewhat agree with you in here. Despite the reference number we have on hand I really do not know if they can deliver what they promise. But I guess there is nothing wrong if we reserve some hope that they would pay us in the future. :song:
  20. marie2success

    marie2success Super Moderator

    The saga continues.

    Last week 10MDC was claiming that the refunding continues after a break of 6 weeks which was caused by the closure of their bank account.
    They assume that one of the withdrawal receivers must have reported it to an authority.
    If that would happen again they would only pay cash in Gibraltar or Istanbul or the like.
    (Ah yes, members would have to travel there.)
    In the meantime, a new bank account has been established under difficult circumstances.

    Another funny thing:
    They claim that the financial authorities even contacted the website hosting service because of "involvement in unauthorized conduct of banking business".
    Therefore 10MDC is closing the website and will publish further informations in a newly created forum where members have to log in.

    To be continued...
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