Where is Vascoinvestment?
April 30, 2006
It could be game over for the HYIP Vascoinvestment . There are reports that it has stopped paying for two weeks now. The program likewise has stopped responding to its members’ emails. Right now its site is inaccessible.
Vascoinvestment, which earlier weathered technical problems, is reportedly operating in UK. However, there are reports that this HYIP is illegally operating since it is not FSA registered. FSA registration is a requirement in UK that must be complied with by those offering investment and financial services.
Without any official word yet from the administrator, you know where this HYIP is headed to.
[tags]VascoInvestment[/tags]
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I received emails up till April 28 ( last normal reporting date), but do not regularly visit the web-site. (Last visited the site about a week back. )I do not know if May 1 was a public or bank holiday in UK, so technically, might not be a reporting day, anyway.
Reports about E-gold deposit irregularities are more worrying. If E-gold repudiates a statement, then we are talking about on-line fraud.
It was always hard to verify the claims VAsco made about itself - such as its 20,000 investors. Who knows the truth, apart from the owners?
The technical difficulties might be easier to understand; This is how I would see it. Someone, for either malicious reasons, or just hoping to expropriate Vasco custom, sent out numbers of emails with Vasco’s name on them.
This wrong-doer used spam techniques, and provoked various irate mailbox owners to retaliate with destructive effect to the Vasco site, knocking out the server for a few days.
Such problems pale into insignificance alongside a loss of investor confidence. At this stage, managers have to decide whether to tell lies or risk a run on the accounts. If all earnings must be paid out at once, then this HYIP will be in trouble.
The current silence might be clever, but it obviously ruins trust.