Hi there !
I’m glad to have an official reply from George Schale about the current situation of GeniusFunds.
This was my question:
Dear George,
I’m again Thinkpink, your investor XXXXXX9 and owner of http://thinkpink-relaxmoney.com/.
The weekend have been quite crowded of updates and rumors from and about GeniusFunds.
First this one:
Due to technical difficulties experienced by our servers over the past two weeks, our compliance department decided to cancel all pending payments and have clients resubmit them.
As a result, the accounting department is overloaded processing payments for the past week and some of our investors are experiencing delays with current transfers.
The accounting people are working through the weekend to take care of this and get us back on track with withdrawals by the end of the next week. Your payment will be released at any time during next week. I am sorry, but I cannot give you the exact date and time when that will happen.
Here are promos to our investment options:
http://promo.geniusfunds.com/geniusfunds_emerging_markets_growth_fund.pdf http://promo.geniusfunds.com/geniusfunds_world_bond_market_fund.pdf http://promo.geniusfunds.com/geniusfunds_world_high_yield_deposit_account.pdf
Thank you for choosing GeniusFunds.
Panos Christodoulou”.
Not sounding relaxing, I think you may agree.
And today a new and much more profitable offer, that to everyone sounds like a desperate look for “fresh new deposits”
Dear Thinkpink,
My name is Michalis Constandines and I am your new account manager. Your account has been upgraded to premium status and it is my pleasure to invite you to participate in an excellent investment opportunity offered by invitation only, to a limited number of Genius clients.
We are introducing WBMF Select fund which will consist of three share types:
WBMF Select 1: $2000 – $25,000
WBMF Select 2: $25,001 – $50,000
WBMF Select 3: $50,001 +
The minimum investment into this fund is $2000. The investment must be a new deposit and not be proceeds of share sales or profits generated by your current investment. There are no minimum or maximum reinvestment requirements for this fund.
There is no no-sale term for this fund, however, sales of shares within the first 30 days of investment will be subject to 25% early sale penalty. There will be no penalty or fee for sales of shares after the 30 day period following the initial investment.
I have enabled access to this fund for you. You may purchase shares of WBMF Select from your Genius account portal. The dividend rates paid on shares on this fund are fixed at the following values:
WBMF Select 1: 10.2% per week
WBMF Select 2: 11.6% per week
WBMF Select 3: 12.3% per week
Dividends are paid every Monday. The first dividend will be paid on the first Monday after the purchase of shares.
The formal offer is attached hereto in PDF format.
Sincerely Yours,
Michalis Constandines
Premium Account Manager
Genius Investments Limmichalis.constandines@geniusfunds.com www.geniusfunds.com
Customer Support Hotline
Tel. +357 25 025067
05:00 – 15:00 GMT Monday-Friday
Automated Account Service
Tel. +44 200 222 7598
24 Hours per day/7 DayAlthough later corrected as wrongly sent with many escuses.
Since I don’t like speculations and prefer to have your “official reply” to offer to my readers I kindly ask you something.
GeniusFunds is facing lately some delays in payments. Not common indeed. More withdrawals through Liberty Reserve aren’t immediate anymore as they used before.
It looks like you’re quite “short” with funds there.
Can you explain the ongoing situation ?
As usual I will be very pleased to publish it on my site for all my readers.
Waiting for your kind reply.
Thinkpink
And this is the reply I just received from him:
Dear Thinkpink,
Actually, this new offer was planned 4 months ago and we were undergoing the necessary licensing and registration procedures before it could be offered. The offer coincided with a security situation here at Genius that is taking time to get resolved. I am sure that the problems will be resolved by Friday this week. Most wire transfers that were pending are already on their way and e-currency withdrawals are being screened and paid one by one by our compliance department. I think there is nothing to be worried about at the time.
Sincerely Yours,
George Schale
Regional Manager
Genius Investments Limited
My conclusion: I still don’t see any reason to panic, but be cautious and let’s see if payments flow in a timely manner this week. I’m optimistc. Just my 2 cents.
Btw I’m grateful to George to be personally responsive when some important quetions need to be answered.
