| Subject: Re: Why No Updates from MMFC??? |
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Date Posted: 20:24:48 05/31/05 Tue
In reply to:
's message, "Why No Updates from MMFC???" on 08:33:50 06/13/02 Thu
>Could someone pls comment on MMFC!! There seems to be
>quiet would you pls share on what the heck is going on
>with mmfc.
I have posted all the messages from MMFC on this site. In addition, I will post this, as this was the original club's name, and it seems that James has it deleted.
Diligizer
> DILIGIZER ARCHIVE 13
> James F. King - Liberty Club
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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.
LC ADMIN
LIBERTY CLUB PRESENTATION:
LIBERTY CLUB was created 9 months ago by a private group of individuals who united their knowledge, experience and investments and started trading with stocks and high yield options. After 9 months of hard work we achieved something incredible in terms of financial growth, when we started we made 11% per month NOW we make 2-5% per day.
We would like to expand our activities, investments and therefore profits by inviting small investors to join our club. For the month of June our profits were approx. 107% and it could have been much more if we had more money to invest because some trades require a minimum of $100,000 or more and our investing policy is that no matter how profitable a trade is we do not invest more than 5% of our portfolio in it.
LIBERTY CLUB will pay you a non-compounding yield of 15% per week on the amount of US dollars you loan to us. The minimum to join is 1 UNIT = $100 + 10% administration fee.
LIBERTY CLUB will use ONLY E-gold for payins and payouts. We believe that this new internet currency will make it easier for us to manage the funds of thousands of club members. If you need to set up an e-gold account (it's free) go to e-gold
We openly admit we have copied some parts of this presentation from other successful loan programs because we are not trying to re-invent the wheel and we would like to learn from their experience.
Please read carefully all the material provided below, and ask your sponsor about any matters that you don't understand. Then and only then, please mail us about matters not covered or understood. We reserve the right to NOT answer questions answered herein. Time wasted on such matters gives us less time to do what you want us doing, making YOU money. We hereby announce that we would not be sending confirmation emails to new members. Because the first payout is due only after 1 week we consider the first payout to be a confirmation. So after you send us your E-gold you'll first hear from us after 1 week when we will deposit 15% in your E-gold account.
LIBERTY CLUB Rules and Features:
1) LIBERTY CLUB pays a non-compounding yield of 15% per week. Payouts are made every Wednesday, so your first payout will be on the first Wednesday after 7 days of your deposit (If you join on Monday you'll receive your first payout on Wednesday next week which makes 10 days for your first payout).
2) Each member buy LOAN UNITS. 1 Loan Unit cost $100 and there is 10% administration fee FOR EVERY UNIT. If you buy 10 units you need to send us $1100 in E-gold. The returns on this 10 units are $150 deposited to your E-gold account EVERY WEEK (Wednesday).
3) We pay 20% referral bonus for every unit purchased by members you sponsored to the club. Referral bonuses are paid up to 48 hours after the units are purchased. Once we reach 3000 units we will decrease the referral commission to 10% or 5%.
4) LIBERTY CLUB does not have a website and members are strictly required to adhere to our non-spamming policy. Invitation can be extended to your downline and mailing list but please do not spam. You may use message boards, you may create your own private website, but you MUST NEVER SPAM. Anyone found spamming will be removed without recourse from the LIBERTY CLUB program.
5) To participate in LIBERTY CLUB, one must have an E-Gold account.
If you do not, you can open a FREE E-Gold account here: www.e-gold.com/e-gold.asp?cid=130331
To buy E-gold use: http://www.golddirect.com/ or http://www.goldnow.st/
To join the club please fill in the application form below and send it to: libertyclub@ziplip.com Make sure that you have sent us your loan before you send the application.
LIBERTY CLUB APPLICATION FORM
All information for new loans or re-loans must now ONLY be sent to libertyclub@ziplip.com with subject=APPLICATION
Below is the email format you should use when funding loan units, the first time or any additional times.
Please copy the WHOLE text!
Begin copying with "Joint Venture" below. Copy the WHOLE application (including payment and sponsor information). Paste into an email. Make the correct changes - add your E-Gold batch information and your sponsor information. Then email to libertyclub@ziplip.com
**************************************************************
Joint Venture - Private Party Loan Agreement
This Private Party Agreement is initiated between (print your name here) ____________________________ and LIBERTY CLUB in consideration of this sum US-$ _______________________ to be used in the LIBERTY CLUB trades in the interest of LIBERTY CLUB and its Lenders. The loan plus profit will be repaid to the lender.
Expected rate of repayments is expected to be at or around 15%/week paid every Wednesday. Both parties understand that financial matters involve RISK and no warranties or guarantees are expressed for an exact fixed percent of return.
This is a non-recourse agreement between private parties. Receipt and/or signing of this document by the recipient constitutes acceptance of the terms of agreement. The private party Loan-Agreement submitted by each individual or entity is subject to acceptance by LIBERTY CLUB. Without recourse. LIBERTY CLUB cannot cancel this loan agreement.
Lender states he/she does have promise of financial assets in an amount sufficient to sustain obligatory indebtedness and the loaned amount will not be a financial strain.
Date: ____________________________________
Loan Amount $ ____________________________________
Lender: _________________________________________
E-mail Address: ___________@______________________
(This is NOT a security offering or securities investment. It is a private party Loan-Agreement) Unauthorized changes of this document will void the entire agreement.
Dear Lender, Please transfer funds to LIBERTY CLUB E-Gold account 144115. Please use GOLD only. If you need to set up an e-gold account (it's free) go to e-gold
Units are $100 USD each, and you must add 10% administration fee for EVERY UNIT.
Minimum entry is thus $110 USD. There is no maximum.
Example:
1 Unit is $110
5 Units is $550
20 Units is $2200
Each member must have his/her own personal E-Gold account, which he/she must use to transfer funds to purchase Loan Units.
Put your Loan Details below:
Lender Details
Name: ___________________________
Email: _________________@_________________
E-Gold account #: __________________________
Loan Amount: _____________________
(Units are $100 USD each, and you must add 10% administration fee for EVERY UNIT)
E-Gold payment BATCH number: _____________________
(This number will appear after you make payment using the Spend option in your E-Gold account manager)
Sponsor Details: James F King
Sponsor's email: soma@somagardens.com
Sponsor's E-Gold account #: 111887
(if the above sponsor details are provided incorrectly, no sponsorship commissions will be paid)
Please send your loan to our E-Gold account # 144115
Units are $100 USD each, and you must add 10% administration fee for EVERY UNIT
IMPORTANT E-GOLD "MEMO" NOTE: When sending your loan to LIBERTY CLUB E-Gold account, 144115 write your NAME,EMAIL ADDRESS AND SPONSOR EGOLD ACCOUNT NUMBER under "Memo". Ensure that all information given is CORRECT before you send this application to us.
NOTE: Please ensure that ALL E-Gold account numbers given are CORRECT. We will not compensate for payouts transferred to wrong accounts.
Yours faithfully,
LIBERTY CLUB
Frequently Asked Questions #1
This was an interview conducted between Kevin Straub and Liberty Club on July 27, 2000.
Q: Please, could you tell us how many of these payouts to expect per given unit
A: You can expect 52 payout (1year)
Q: we would like to know if the principal is absorbed or paid out at the end.
A: The principal is NOT paid out at the end.
Q: How you are investing ??
A: In general we bet on short term trading. We buy stocks today and sell them after 1-7 days making profit 2-15% per trade.
Q: How can you liquidate e-gold quickly enough to turn it around in investment activty within a matter of days?
A: Normally transaction from e-gold to bank account takes 1 day.
Q: relying on new investors monies to pay out older members, i.e., pyramiding, ponziing, or whatever it may be called
A: No. We do not rely on new investors money for payouts
Q: Do you intend to close the program at any point?
A: It really depends on how fast we grow. If we grow too fast we would have to stop for a few months. Of course stop accepting new members not stop paying .
I would also like to add that we plan to decrease the referral bonus from 20% to 10% next week.
LC ADMIN
============================
Frequently Asked Questions #2
This was conducted between Russ Edwards and Liberty Club on July 25.
Since you evidentially do not have a website, can you provide details as to the how the deal works, where the money comes from, and so on?
Do you have any references? What have the operators done prior to this?
Who and where are you?
Why no phone or street address?
Do you have any kind of license to do this?
If you are handling other peoples money, surely you have some banking references.
Do you have any way to verify that you have *ever* been able to generate returns of over 60% a month ever before at any time in your life?
If so, why are you fooling around with $100 guys?
And paying a 20% finders fee to find them !!?!!
If you could verify 60% a year you would have millionaires and fund managers beating down your doors! ... 60% a month!!!??!!!
Make me believe.
Russ Edwards
P.S. I speculate for a living - only in secured stuff, and the best I would ever dare offer is 12.5% per month and I would have to work my tail off to insure that.
Tell me how you can offer that per week.
Reply ... From: LCADMIN 9:03 am
We speculate for a living too - NEVER in secured stuff, always in high risk.
If you make 12% that doesn't mean we can't make more.
Here is example of how we work:
On 7/13/00 we bought NASDAQ:BBSW at 35 and after 6 hours sold it for 39 however you look at it it's 9% for 6 hours. I'm sorry that you make only 12% per month.
Now the answers to your questions:
Q: Who and where are you?
A: 4 fellows in Nevada who are sitting in small office and staring in huge monitors all day.
Q: Why no phone or street address?
A: I spend half my life on the phone. Can you imagine what will happen if thousands of people have my phone?
Q: Do you have any kind of license to do this?
A: NO
LC ADMIN
====== My own questions to Liberty Club =======
From: LCADMIN
Hello Kevin Straub,
Thank you for your questions. I'll try to answer all of them with a few words. Yesterday the markets went down with a bit and today we have a lot of work.
Q: Please, could you tell us how many of these payouts to expect per given unit ?
A: You can expect 52 payout (1year).
Q: We would like to know if the principal is absorbed or paid out at the end.
A: The principal is NOT paid out at the end.
Q: How you are investing ??
A: In general we bet on short term trading. We buy stocks today and sell them after 1-7 days making profit 2-15% per trade.
Q: How can you liquidate e-gold quickly enough to turn it around in investment activity within a matter of days?
A: Normally transaction from e-gold to bank account takes 1 day.
Q: Are you relying on new investors monies to pay out older members, i.e., pyramiding, ponziing, or whatever it may be called?
A: No. We do not rely on new investors money for payouts
Q: Do you intend to close the program at any point?
A: It really depends on how fast we grow. If we grow too fast we would have to stop for a few months. Of course stop accepting new members not stop paying .
I would also like to add that we plan to decrease the referral bonus from 20% to 10% next week.
LC ADMIN
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Replies MKA Financial Services and David Lavoie hunter111160 6/25/02 4:21 am
James Frederick King - Money Matters Freedom Club hunter111160 6/25/02 4:23 am
James F. King - Liberty Club hunter111160 6/25/02 4:25 am
Somagardens contact information hunter111160 6/25/02 4:27 am
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Robert Demes, William Ramirez, and others hunter111160 6/25/02 5:34 pm
MSI - George Adem hunter111160 6/25/02 7:38 pm
Andrew Weber - Georg Adem - finally a question hunter111160 6/25/02 7:40 pm
Andrew Weber - IPCBelize hunter111160 6/25/02 7:43 pm
Any of these associated with Russ Whitney? Guest 6/28/02 5:53 pm
The answer appears to be YES .... hunter111160 6/28/02 6:11 pm
From SEC form filed by Whitney Information Network hunter111160 6/28/02 6:27 pm
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