Yeah! I got nearly all of my 12dailypro money back! (approx $3k)
 

I jumped into 12dailypro near the end in January, so I'd put in $ but hadn't received any payouts before Stormpay closed their account and 12dp were closed by the SEC.

Today - FINALLY - I got word from my bank that my disputes have been closed, with two returned in my favour and three smaller amounts standing against me. However, the bank is also refunding interest charges for the past 5 months which nearly covers the amount I've "lost."

The total is about $USD3k and the bank says that I've been pretty lucky to get such a large portion back.... or even any. They commended me for being vigilant with responding promptly (there's been about 15 envelopes with docs and letters back and forth) and finding relevant documentation to support my case.

It was money I had resigned myself to losing so it's certainly nice to find out after 5 months that I have it back, and nothing further will happen.

:upsidedow :upsidedow :upsidedow

:thumbsup

Why waste time with those scams in the first place?

Yep, you are absolutely right. I figured I'd make some quick money out of it before things went bang, but I started about a week too late. I've learned my lesson... no more HYIP for me

In fact I consider myself very lucky that I recovered anything, considering I went into it knowing full well that there was a "chance" I may lose money... there's plenty of people who will be waiting years just to get back a portion of what they put in. (Technically I still have a right to the funds for the chargeback claims that were rejected)

SEC is hardcore with any scheme dealing with "securities". In one case it even successfully argued to a court that an investment in WORM FARMS constitutes securities and is governed by the SEC see http://www.professorbainbridge.com/2...edwards_s.html So be very careful in dealing with anything that meets that VERY BROAD regulation.

bump

anyone else get the 12DP $ back?

I have no idea what 12dailypro means....

Probably one of the largest online ponzi schemes, although they continually denied it. It was definitely the largest autosurf program ever. It was closed down by the US SEC, then Stormpay switched to auction only payments (no more peer to peer), and EMO - another payment processor - was also shut down by the SEC for misappropriating members account "balances." Thousands of other autosurf programs were also affected by the whole mess.

12DP has been appointed a receiver to decide how to share out the remaining funds but he has said himself that he expects it may take years before people are paid, and they are not going to get back anywhere near 100% of their capital.

Stormpay seems to have come out of it relatively unscathed but they're one of the companies that need serious investigation IMHO. It was Stormpay who copped the chargebacks that I claimed.

I got mine back too (chargeback)

I read somewhere that the WOMAN behind 12daily made 90 mill. before they closed the program?!?!?!

That's probably more likely to be the amount of cash that was sitting in the Stormpay account... you can't really "make" money from a ponzi since it's going to collapse eventually, it's just how much you decide to skim out before it all falls apart. :2 cents: I don't really see the point when she's had to pay it back anyway, and may (or has?) faced fraud charges. Unless you flee the country it's going to catch up with you eventually.

The real crooks are the payment processors like Stormpay. Like a bank it is very, very unlikely that customers will all want to withdraw cash at the same time, so they can use the cash pool to lend to others... or fund their lifestyle. EMO Corp was found to be doing this, they could not reconcile the customer's online balances with actual liquid cash. Hopefully Stormpay will be investigated for the same thing.

A friend of mine lost $9k but almost $8k from that was profit that he had put back, so u can say he lost like 1200, still sucks

good for you! I'm glad you're at least breaking even.

:Oh crap ouch

For the people that got in at the right time they could have been clearing something like $3-4k a month in profits, for several months. I got in at the wrong time. :winkwink:

It will be interesting to see how the receiver decides portions for the people who reinvested their earnings - if you "lost" $2000 profit when 12DP closed but you'd already made $20k from the scam are you still entitled to anything?