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Subject: Re: Why No Updates from MMFC??? Author: Anonymous [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 22:33:14 05/13/05 Fri In reply to: 's message, "Re: Why No Updates from MMFC???" on 22:27:36 05/13/05 Fri >>>>>>they have always paid on time, why are you >>>>>>complaining!!! >>>>> >>>>>It is not an issue of complaining. They used ti >>gvie >>>>>regular updates. Now they don't. Thier members >>want >>>>>to know why since it may be connected with them >>>>>starting to fold. What is so complicated about >>>>>understanding that?? >>>> >>> >>> >>> Reference: F:\My Received Files\James F_ King - Liberty Club - www_ezboard_com.htm Detailed below depicts James King's gross negligence shown over and over again. One has to wonder if we have been swindled by a CON ARTIST. Diligizer > DILIGIZER ARCHIVE 13 > James F. King - Liberty Club << Prev Topic | Next Topic >> -------------------------------------------------------------------------------- Subject: James F. King - Liberty Club Posted By: hunter111160 - Registered User Posted At: (6/25/02 4:25 am) web.archive.org/web/20000...iberty.htm Liberty Club On August 2, my first 15% payment ($90) was paid to my e-gold account. The latest announcement as of August 12, 2000 from the forum at web.archive.org/web/20000.../messages. Dear LC members, We hereby announce that from this moment on: A. We close the program for new members. B. We suspend all payments to existing members. The reasons for these actions are the following: We contacted our lawyer and told him about our private loan club. We asked him if it's legal and how we can transfer the club offshore. The answer was that we are crazy to run such program in the US and that it is ILLEGAL to operate. The only solution that will prevent us from having problems is to close the club and return everybody's money. And that's exactly what we are going to do. We will refund you all the funds you loaned to us (including administration fees). Unfortunately we cannot do this immediately. We will refund the funds in the forthcoming months. We cannot refund you now because: A. We did not invest your money in our day trades. We were waiting for some IPO deals that would have brought us 300% in 1 month but the company postponed the IPO with 6 months. B. While we were waiting the money was doing nothing and we paid out 20% (later 10%) referral bonuses and twice 15% weekly payouts. This reduced the total funds of LC to 65% of the total deposits. C. To make the situation even worse the person who was paying referral bonuses made terrible mistake and left his finger on the 0 key while sending referral bonus. The result was thousands of dollars paid by mistake to a LC member who don't want to return the money. This reduced the total funds of LC to 40% of the total deposits. D. If we add the price of gold and the egold outexchange commissions we now have about 36% of the total deposits to LC. Our only alternative is to refund 100% of deposits. In order to do this we will invest what is left in medium risk daytrading and stock options and will refund you in the next few months. We would like to state that we are NOT SCAMMERS or people who are trying to run away with your money. Everything will be refunded to the last cent. For any future updates and for LC related discussions use our forum: www.delphi.com/libertyclub/start/ we would do our best to answer all question. From now on all deposits to our account will be returned within 48 hours. [ Next Thread | Previous Thread | Next Message | Previous Message ]

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Subject Author Date Re: Why No Updates from MMFC??? Anonymous 22:52:11 05/13/05 Fri