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Important Members Update - Aussie Gold is now CLOSED

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Posted by: admin

Thursday, October 02, 2003

Hi Everyone

RE: Important Members Update – “The Aussie Gold Program is now Closed”

Today is truly a difficult day for me, as I started Aussie Gold at the start of the year with a plan and vision that AG could become a solid and honest performer in the HYIP Industry that could genuinely make a difference

I have spent the last month re-viewing all of Aussie Gold’s performing and non-performing investments and I also did a complete check of the AG data-base. Unfortunately, AG has far too many failed investments in its pool and therefore Aussie Gold is not in a position to continue paying weekly returns as the program would become a ponzi to achieve that and it would also result in a situation where the reserve fund would become depleted in a very short period of time. In light of the above, it is much more sensible to close the AG program and start to process refunds

From day one I always had contingencies in place, such as a reserve fund to cater for this very such situation. So what this means is that no one will loose out and I will be in a position to refund spends that are NOT in profit, however this may take some time

Aussie Gold’s FAILED or NON-performing Investments are as follows

Golden Reward - SCAM

Season Gold - SCAM

5 Percent 4 U - SCAM

Five Daily - SCAM

E Gold 2 Pay - SCAM

Real Estate Tycoon - SCAM

Daily Shares - SCAM

Gold Vaults - Non-performing

E-gold Success - SCAM

1414 - SCAM

Golden Eagle - Non-performing

Money Works - SCAM

Gold Universe - SCAM

VBU – V – Waiting for their new program to start

VBU – 12 – Waiting for their new program to start

VBU – 150 – Waiting for their new program to start

Freedom Club - Waiting for their new program to start

Hi Fi Gold - SCAM

Money Trust - SCAM

Celtic Trader – Waiting for Refunds

Galts Gulch - SCAM

AFFA - SCAM

UGT - SCAM

Ads Flow - SCAM

Stable Profits - Waiting for Refunds

Toteki Investments - Non-performing

NEO Estate - SCAM

Private Pool - Non-performing

Bullion Group - SCAM

The Investors Group - Waiting for payments to restart

Aqua Football – Waiting for payments to restart

Pecunia Club - Waiting for payments to restart

Ace Hi Loans - SCAM

Gold Excel - SCAM

EDIC – Waiting for Refunds

Merinos 01 - Waiting for Refunds

HYIP Opps - SCAM

Corporate Killer - Waiting for Refunds

FXTO - SCAM

Gold Nexus - Waiting for Refunds

Com Traders Group - Waiting for Refunds / SCAM?

STX Trading - SCAM

1 HYIP - SCAM

HYIP Market - Waiting for Refunds

Swiss Invest – SCAM

EIC - Waiting for Refunds / SCAM?

Gold Earnings - Waiting for Refunds

Phill ex Trading - Waiting for Refunds / SCAM?

Professional Earnings - SCAM

Oil Mining Investments - SCAM

Mega Invest – Non-performing

Gold Storage International - SCAM

Gold Commerce - Waiting for payments to restart or for refunds

___________________________________________

Details about the refund process

1. All members that spent over the last week, i.e. have not received any weekly returns at all will be refunded tomorrow (Friday)

2. I will start to refund Members that have not yet reached profit from Monday next week in the reverse order of the data base. So the members with the least returns so far will be the first to receive refunds. E.g. If you spent $ 100 and you have received $ 50 into your e-gold account then your refund payment will be $ 50

3. The refund process is a huge task as the database was breached numerous times on the old server and at least on one occasion on the new server therefore I have to check each and every deposit manually via e-gold records and database records before processing refunds. The reason that I have to do it this way is because some figures in the database just do not add up and I know that there are a number of deposits that were fraudulently added to the database by the hacker, so I need to weed them out as I process refunds

4. We also have over 500 members and I am expecting to refund about 50 members a week so it may take up to 10 weeks for all refunds to be processed and this is of course dependent on returns and refunds coming in from other investments and programs, so it may take longer than this, however I will keep members up to date

5. Members who are in profit, and there are quite a few members that are way in profit or have even reached the 225 % mark will obviously not be refunded. Refunds only apply to members that have not received their initial deposit back in full

6. Some larger investors may receive 2 or 3 small refund payments over a period of time to make up their full refund

7. If members could post on the AG forum when they receive refunds so that other members know that refunds are taking place on a regular basis

So where will the money come from to process refunds?

Refunds will be funded from the following sources

1. The reserve fund
2. Returns form remaining performing investments
3. Refunds from non-performing investments
4. Returns from some long-term investments
5. Returns from hphyips
6. Some other on-line and off-line investments

I will always remain accessible to answer questions, like I have always done. I sincerely ask that members be patient as refunds will be processed. Please don’t bombard me with abuse or questions about refunds that I have already posted information about as it will simply slow down the refund process

This will be the last members update via e-mail. All further updates, which will be initially on a weekly basis, will be posted on the AG forum at

http://www.hphyips.com/forum/

If you have any questions about refunds please post them at the above mentioned forum and I will answer them ASAP

I would like to personally thank the 5 or so AG members that have been in regular contact with me over the last month discussing this issue and I sincerely appreciate their thoughts, suggestions and support in regards to this matter

I wish everyone, every success for the future and I hope that the HYIP Industry in the future will be finally a safe place to invest thro the efforts of people like Mario and Brian at Weekly Gold, Jim at vGold Info, Walter from the old DDUC and people like Memorex, Neo, Awty and Regal at hphyips

Best Wishes

Philip


Posted by: Residue

Hi Philip,

I'm sorry that things didn't work out.

I'm very impressed with your honesty and integrity.

If you ever start a new program, I'll be keen to invest.

All the Best!

Peter


Posted by: admin

Peter, thanks for the support

The main thing is to refund as many members ASAP


Posted by: maa

Hello Phillip,

Sorry you have had to experience this. I personally have made a profit from AG and am also a member of Secure1.

Thank you for your efforts and I too would happily support you in the future. Will Secure1 continue?

With luck the old VBU will come again and may provide some capital back to AG.

Thanks again

maa


Posted by: admin

Hi maa

Good to hear from you again

Yes S1P will continue as normal. There will be a members update later tonight

Phil


Posted by: maa

Look forward to the update - keep on plugging - Go AUssie

maa


Posted by: toto

Hello Philip

Not in profit, but I am glad for the reassuring experience with AG.

A professionally managed program with integrity is hard to find and is very commendable in this difficult arena.

The closure might be the turning point to a new direction with better times to come.

Hopefully you will keep in touch with AG Members.

Thank you and Best wishes.

BTW.
Would it be possible to invest the refunds in S1P ???


Posted by: admin

Thanks for the support, it really is appreciated, as this industry can be, well, unforgiving

Interesting question,

I will do some calculations and get back to you

Please give me until after the week end


Posted by: evolve

Phillip,

very sorry to see AG close, it was one of my favourites.

I'm in profit and would like to thank you for a positive experience and for your openess.

All the Best in the future!


Posted by: admin

Hi evolve

Its a sad day today because there were many members that have been with AG almost from the 1st week that we started. It was a great to have you as a member almost from day one

All the best for the future too

Happy Investing


Posted by: regal

Hi Guys,

I am glad to see there are no negative posts. But with Phil as one of the most honest admins around, there should be no negativity.

I wish the HYIP arena had more admins like him. I know that refunds will take a long time, but they will come. Let us stand behind Phil all the way.

Best regards to all

regal O


Posted by: BritinTexas

Quote:
Originally Posted by regal
Hi Guys,

I am glad to see there are no negative posts. But with Phil as one of the most honest admins around, there should be no negativity.

I wish the HYIP arena had more admins like him. I know that refunds will take a long time, but they will come. Let us stand behind Phil all the way.

Best regards to all

regal O


Couldn't have said it any better. Good luck Phil.

Dave


Posted by: Manos64

Ditto.

Phil is one in a million and ranks up there along with Victor(tb2i) when we talk about integrity and credibility in these here parts =P~ =D>

Quote:
Originally Posted by BritinTexas
Quote:
Originally Posted by regal
Hi Guys,

I am glad to see there are no negative posts. But with Phil as one of the most honest admins around, there should be no negativity.

I wish the HYIP arena had more admins like him. I know that refunds will take a long time, but they will come. Let us stand behind Phil all the way.

Best regards to all

regal O


Couldn't have said it any better. Good luck Phil.

Dave



Posted by: jaboles

Yep, I'm very sorry to hear this too. AG was one of my personal favourite programs and Phil is a rare kind of admin. Here's hoping you stick around in this business, Phil


Posted by: admin

Thanks everyone for the support, it is genuinely appreciated

As you all know this industry can be unforgiving

In fact you all SPURED me into action today and I was able to do 24 refunds

Last post for tonight

Time to go out for a quite drink, I have not done that for a long long time


Posted by: awty

Philip, thank you for your honesty and integrity. Amazes me the number of people out to take other's hard earned $.
I'm glad I'm here, thank you for the opportunity to join this group.
Jeff



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