Discussion about Benson Union

[Thanetman]

Originally Posted by Wealthyt

Benson Union site is down. Are they still around?

It's only about a week since they joined Vistnet and the so called 100% uptime!
There must be something happening. Perhaps this new set-up is having issues with their Liberty Reserve access for instance? Who knows?

This last few weeks has proved "turbulent"...very frustrating.

Bump: The site is working for me ok (15:08 BST - UK time).
Panicky comments on Facebook probably unjustified.
I have a pending withdrawal.
I have mentioned before, it makes no sense for them to run away, after all, Ragnar has appeared online several times now!

Bump: It's clear that the info about this company is different with different monitors.
In this forum, BU has "Instant" withdrawals, on another it has "Manual" withdrawals.

With over 100000 members i would have thought instant was essential to avoid backlogs.
It is also clear that problems take a day or two to filter through.
I hope they can sort this soon as their .biz details are looking weak.

Bump: As May 1st was Labour Day and Monday 6th is May Day bank holiday (UK and Eire), i expect we should see some action from BU on Monday.

[Thanetman]

It is 08:02 (am) here.
My available balance has increased, however, the pending withdrawal has not been processed as yet.

Bump: It's very odd that a problem should appear so soon after BU went to UK seminar and then Ragnar's webcast.
Perhaps they caught a cold!

Bump: This is not looking good folks. The pending withdrawal has ended up in someone else's account.

Bump: HyperCompound did exactly the same thing.

[Thanetman]

Now, the issue of payments being hijacked at the payout phase is a loophole that not even Benson Union has cracked . I doubt they ever tried.
What is to stop someone substituting their e-currency number for yours?
I have mentioned in another thread that DDOS protects the website, but what protects the investors payments (especially when they are in the "pending" phase?)

[Thanetman]

Well, no improvement in BU ratings (in fact, they are decidedly worse).
Given that BU migrated to Vistnet well over a week ago and payments are now being high-jacked, the following questions arise:

1. If Vistnet is doing it's job, who is hacking the payouts?
2. Will Ragnar make a statement?

[Thanetman]

Someone on Facebook said they withdrew instant...are they kidding?
BU's rating have sunk like a submarine.
Where is Ragnar?
I must admit that, in the Webinar, he seemed to struggle a bit with the announcement about updates for the summer..
I guess people's deposits are as good as gone.

[Thanetman]

Think of it folks.
You buy e-currency and have to pay a fee to the e-currency exchange merchant.
Then you invest in a company where the CEO appears online and they still
run away with your money after paying back a small fraction.

Some people have reported money being taken directly from their e-currency account (a hyip not involved).
AVO INC blamed Liberty Reserve for freezing their account.
What will Benson Union do?
I wonder if Liberty Reserve will issue a comment about a "standard verification procedure" failure by Benson Union?
(SVP only fails if some documents are bogus (or missing?))

Yes, Ragnar had difficulty saying about "the updates for the summer" only a few seconds after he started the speech....

Also, it was suspicious that the "entire management team" went to London Forex seminars. These seminars were introductory for FOREX training yet BU was supposed to have a "versed financial pilot". Surely, after over a year online (and two years in the planning) the management knew everything they needed to know about Forex and therefore could train new members (if that was really needed).

[Thanetman]

In their presentation video is "proprietary signals costing $100k per month.. that the banks and other financial institutions use" ... how did they fail with these special signals, or were they closed by demand?
It seems strange that these forex based hyips always fail no matter what method they use.

I would not recommend anyone get involved in forex trading, it must be a nightmare.

[Thanetman]

I wonder if Benson Union was a victim of circumstances?
I notice that it did not spend very long on the latest scam list before relegation to the blacklist.
Their site is still accessible, but i think no-one should try to cash out until further notice.
What happens to Liberty Reserve is the focus for some time to come.
I hope, somehow, people can get at least the major portion of their deposits back.
The question is IF yes, when and how?

Bump: The most amazing thing for me was that Liberty Reserve had been refused a License in 2011 in Costa Rica, yet was still operating as "normal" as far as many users could tell, but from different premises!

[Thanetman]

Well, it's Monday 3rd June. I can't access the site now and a message from "Cloudflare" appears. I wonder if BU knew about an imminent shut down of LR?

I remember ,many months ago, I posted a message that no hyip should be allowed to operate without a clearance from LR, PM etc. Now we know the truth, LR, the exchangers and the hyips were in it together.