Four Shady Reverse Pension Plans Hits the Streets
This week we bring your attention to four new “reverse pension” programs that have just entered the spotlight. It does not take much to pick apart these copycats of the original RPPs (Global Pension Plan, ICC, E65) that still have not yet paid out a single dollar after reaching full membership for months and in E65’s case, years.
Here is the list of the new programs you should be wary of steering clear of unless you want to ignore all the red flags waving and sirens wailing.
www.worldpensionclub.net
www.worldpensionplus.com
www.globalconnect-network.com
www.dynamicwealthplan.com
WorldPensionClub.com
First, we will analyze WorldPensionClub, (WPC) program. If copying is a sign of flattery, then credit should be given here as the verbiage down to the FAQs is copied exactly from the Global Pension Plan site. They are at least smart enough to change the program names.
WPC differentiates itself by offering three unique bonuses to entice members. The first is a free signup for the first 250 members, then the first 1000 members get a bonus 10,000 Euros and finally, the member with the most referrals get a whopping bonus of 1 Million Euros.
The most obvious red flag one should notice about WorldPensionClub is the fact they are using a HYIP script to run their site. Shell out a $100 and you can buy “Script4Profit” to run your own scam. Do you think a business that is about to make Billions of dollars at least could have a more professional looking website and paying for better software that gives a little more trust?
Pinging WorldPensionClub returns an IP of 216.75.56.130 and doing a quick reverse Whois lookup, shows us that this domain is located here in the U.S. I don’t know about you, but programs like these that are located in the U.S. are highly illegal if they are not registered with the SEC if the program is actually legit.
OrgName: California Regional Intranet, Inc.
OrgID: CALI
Address: 8929A COMPLEX DRIVE
City: SAN DIEGO
StateProv: CA
PostalCode: 92123
Country: US
ReferralServer: rwhois://rwhois.cari.net:4321
NetRange: 216.75.0.0 - 216.75.63.255
CIDR: 216.75.0.0/18
NetName: CARI-4
NetHandle: NET-216-75-0-0-1
WorldPensionPlus
Well, we haven’t heard of Yardas either, but if anyone is so inclined to do a little investigation; it shouldn’t be hard since this so called company is being hosted in Australia. We do have to say, they did a wonderful job of explaining how the “Expedited Benefit Plan” works by jargon convolution. It makes you think, “It’s really complex, so therefore it must be true”.
OrgName: Asia Pacific Network Information Centre
OrgID: APNIC
Address: PO Box 2131
City: Milton
StateProv: QLD
PostalCode: 4064
Country: AU
ReferralServer: whois://whois.apnic.net
NetRange: 202.0.0.0 - 203.255.255.255
CIDR: 202.0.0.0/7
NetName: APNIC-CIDR-BLK
NetHandle: NET-202-0-0-0-
They are a “private business” with a team of financial “annalists” that are going out “on a limb” to bring you this opportunity. If they are a little bit more “anal”, they could at least get the spellings correctly, so it can bring them more business from corporations and organizations that works under the shadows using their financial expertise.
Globalconnect-network.com
“Reverse pension plans are innovative and highly profitable projects initiated and run by venture capitalists – in pre-arranged cooperation with their insurance company and their mortgage company.”
Now, where have we heard that phrase before? Yes, they make no qualms of mentioning the other two RPPs, (Global Pension Plan and Pension World Wide) as justification for the legitimacy of their own program. Don’t think that reverse pensions programs are real? They tell you to Google it and you will find that they are. Well, Google “reverse pension scams” and you will find plenty of information on the contrary.
“We are a group of experienced businessmen and market analysts based offshore in Republic of Seychelles.”
We beg to differ. Pinging globalconnect-network.com returns, 205.234.212.246. A quick reverse Whois shows that this IP range belongs to the hosting provider Host4web.com which is located in Chicago, IL. Can you trust these people? The lack of a Disclaimer and Risk Statement is of a concern as well. At least you can sue them, but then again you don’t have a physical address. Shouldn’t be hard to find since you know who hosts their site now.
Server Central Network SCN-4 (NET-205-234-128-0-1)
205.234.128.0 - 205.234.255.255
HostForWeb Inc. SCNET-HFW-205-234-212-0 (NET-205-234-212-0-1)
205.234.212.0 - 205.234.213.255
# ARIN WHOIS database, last updated 2007-10-22 19:10
# Enter ? for additional hints on searching ARIN’s WHOIS database.
DynamicWealthPlan.com
Not much to say here, except it’s an exact clone of verbiage from Global Pension Plan. Only the names and numbers have been changed to convince you that they are unique. If it’s any consolation, their IP (64.23.12.58) belongs in a range belonging to a company here in the U.S.
OrgName: SKWB-BRAINRESCUE
OrgID: SKWBBR
Address: c/o SkyNetWEB 3500 Boston St. Ste. 231
City: Baltimore
StateProv: MD
PostalCode: 21224
Country: US
NetRange: 64.23.12.48 - 64.23.12.63
CIDR: 64.23.12.48/28
One new question that has risen since our original post on this matter, “Reverse Pension Plans – Myth or Reality?”. The amount of money that is involved in such a program if it exists, and the “banks” that are supposedly providing the funds does not seem plausible.
In a program that has 100,000 members; a bank will have to loan out around $16-17 Billion dollars for what really are pieces of paper for the so called policies. This sum of money is impossible for small banks to come up with, which means only the top banks in the world can do so. There in lies a problem.
According to The Banker, here is the list of the Top 10 Banks in the world based on Tier 1 Capital. All other banks would not have the funds for an investment like this. Even Top 5 banks would have trouble, as $17 Billion is a substantial amount to contend with. Why would this be a problem? The Top Banks are PUBLIC companies and public companies have to report to there shareholders.
If these Reverse Pension Plans are real, wouldn’t you think you can find it mentioned in the financial and SEC filings by these banks as a core asset holdings?
In conclusion, we will say once again, buyers beware. If it’s too good to be true, it probably is, so weigh your options and make sure you understand the risks and if it’s ok to line the pockets of some unscrupulous characters, then by all means, “invest” your spare change.
