Cashbax - Should I take the gamble and go self empolyed with them?

Ron_Birrell

jamesh01 wrote: »

Getting a bank loan for a few million quid??? at 5%??? erm... ok not in touch with reality here. Please let me know if you see any £3m loans floating around because i'll be first in line! Maybe Halifax? Please don't talk about things you don't understand. This is way more complicated than you could comprehend.

In your reality, a company with a stated turnover in excess of one billion, would not get a loan for a few million, it's time you took a reality check, and consider a career change.

Your diatribe follows a pattern of previous pro-CashBax statements. One based on the precept that all who challenge this concept are ignorant, poorly educated or somehow lack the right to pass comment, unless that comment is positive.

Instead of adding any weight or credence to the discussion, you say nothing of import, educate yourself about that which you choose to ignore, then write an explanation of what is stated here.

jamesh01 wrote: »

Don't forget there will be large private investors in this sort of thing as well. Seeing an good opportunity to make money. Possibly even banks will want to get involved when it starts producing well.

So why do they need small investors, and where are the banking institutions and large private investors if the following statement is true?

Google search criteria "cashbax one billion"

"4 Feb 2011 – We have now reached over one billion pounds of sales turnover from companies wanting to use our system and we haven't even started yet."

As this was the purported turnover two months prior to the inception of the business, it's expected status now if the statement is true would be that of a multi billion pound company. With this in mind, you have to ask;

A company achieving a turnover of this magnitude wouldn't need to market their services to retail customers at all. There are many ways they could raise cash on the back of the purported turnover stated above. Instead, they are raising investment funds through either selling goods or property with a cashbax label applied to it, or seminars where they market their franchise options with whichever company they are currently promoting. It started with MoneyBax, on it's demise, it was Cashbax, now its Megapoints. Obtaining monies to invest in forex markets from these revenue streams indicates that they know they would fail to borrow this in the City, where the type of due diligence imposed is at a level we can't replicate, as if it were subject to these tests it would fail the credibility test.

To put it in perspective, their stated, purported turnover of Cashbax prior to officially trading exceeds the annual turnover of The Body Shop in 2010. I don't think so.

If their statement is true, why would any bank walk away from such an investment? Which banks have they approached for financing based on these figures? Why are the pages that the above link referred to no longer available? Finally, please name any other £1 startup company, or any company for that matter, that achieved this level of turnover, before the business officially started trading?

The above statement is something they wish to disassociate themselves from, cannot substantiate and have difficulty answering, therefore it must be construed to be a total fabrication of their companies financial position, to be blunt, Lies. If their assertions were based in fact, the magnitude of the growth in turnover would be reflected in a more recent statement or marketing document, showing their purported growth. The removal of access to the original document, coupled with the absence of any subsequent updated document during the companies first year of trading, speaks volumes.

If Cashbax have knowingly misrepresented themselves in order to deceive and encourage individuals into investing in their franchise options by the use of such marketing claims or statements as quoted above, then these are not the actions of honourable individuals, such business ethics and morality is best described as both dubious and deceitful.

Their past actions give me no trust, confidence, faith or belief in any of the individual's previously involved in MoneyBax and its subsidiaries, those currently involved in CashBax and its subsidiaries, and those now involved in Megapoints and its subsidiaries.

I find it really worrying when an individual involved in Megapoints can say "THIS IS NOT AN MLM SCHEME or SYSTEM". When a business goes to such extremes to state that which it portrays not to be, especially when the question is not even asked, and will not explain in precise unequivocal detail how the company does operate, loud alarm bells start ringing. You are dealing with a limited company who essentially could disappear overnight with any monies lodged with them from potential investors.

Go to the following sites and you will see the schemes work in very similar ways.

cashbax.co.uk/howItWorks
megapoints.biz/about.php

I would avoid any of their business opportunities like the plague, and before someone says I don't understand it, I pounded the streets pushing Moneybax and Cashbax flyers through letterboxes to help a friend who was involved in this.

Ron_Birrell

Here we go again, same old same old...... just put a www in front of tpjpaul2.co.uk/index.html. Contact phone number is in Perth, Scotland whilst the postal enquires are going to Michigan, USA.

dacouch

Ron_Birrell wrote: »

Here we go again, same old same old...... just put a www in front of tpjpaul2.co.uk/index.html. Contact phone number is in Perth, Scotland whilst the postal enquires are going to Michigan, USA.

Website registered to Mike Smithson in Swindon

WannaSave_3

check companies house portal - Cashbax failed to file annual accounts due in May this year and there is a proposal to stricke the company off.

Goodbye to con merchants!

KingPin19

Hi All, I am posting in this blog for the first time. Why? because I want to stop other people being ripped of by the con artists behind all of these schemes and franchises like I and many others have. I just hope anybody looking to invest in any of the companies manage to find these blogs prior to chucking there time and money away.

This post relates to the individuals Stewart Cameron and his GIMP Frazer Macdonald. Who operated or should I say attempt to operate the following schemes and franchises Moneybax, Cameron and Co Estate Agents (Perth), Cashbax and more recently Megapoints. When I last checked the 'companies' operate from 2 Charlotte Place, Perth PH1 5LS.

The principles behind all of these companies/ schemes is that businesses can offer customers a reward for buying property/ products or services with a reward. Which benefits the business (because they do not discount) and the customer because they receive a reward.

SOUNDS Good - IF it wasn't ran by such fly by nights who seem to think it is ok to take peoples investments and simply scrap the idea when they have cashed in.

ALL THE REWARDS THAT SHOULD HAVE BEEN PAYABLE BY CASHBAX ARE LOST. ALL THE FRANCHISEE'S FROM MONEYBAX, CAMERON AND CO and CASHBAX have been dumped having lost there investment, and I URGE anyone thinking of investing in MEGAPOINTS not to, as I am fairly sure the same will happen to this scheme.

I dont really have much more to say other than I personally have been taken for £15,000 by the people behind these companies, and I personally will do everything in my power to ensure there businesses/ schemes FAIL. Until I get my money back!!!

Should you invest in Mega Points?

No!!!! Not unless you want to scar your reputation by attempting to sell the scheme to switched on business people. Not if you don't want to be lied to by a bunch of incompetent ********* about how the business is being developed until eventually they call it a day and move onto the next thing. Not If you don't want to loose money. And not if you are a genuine individual like myself who would feel terrible for the businesses you introduce to the schemes, and loose money and scar their reputation.

I hope you can sense my frustration by reading this blog, and I hope anyone who reads it takes what I have said seriously as I know many others who are aware of these blogs didnt.

I have Personally invested in one of these companies and can give the ultimate testament to any sceptic out there that isn't sure about these companies/ schemes and or people behind them. I HAVE BEEN CONNED/ Scammed.

For anyone from Megapoints reading this...

Wishing you a massive failure.

And for the 'religious' man Frazer.... Hoping Karma comes to get you

KingPin

Ron_Birrell

They are now listed as an associate company of Right Buy Properties LLC.
If you go to their web site, specifically this page rbpdevelopers.com/associated-companies.php you will see that the PaybackX blurb is no different to any of their previous incarnations. Same empty promises.

Ron_Birrell

Enough warnings have been given about this bunch of chancers, their latest venture is clickyretail.com and clickypoints.com. Avoid if you have any sense.

thegoldeneggislaid

ILW wrote: »

Safe conservative trading does not produce 50% returns on a regular basis.

I also am a top trader. EA's are renown for their inconsistency and brevity of life. It will be interesting to see what happens when this money making venture has run it's first year - will it have enough money coming in to support all the money going out like a good ponzi scheme does? Well, even if your EA is making 8% per month, that is not enough to get sufficient cash to do the payouts... When will people learn to look at the failed trail of Mt Cameron?

TBW2013

I've recently been in contact with these people, and was wondering how the hell this can possibly be legitimate? capitalrepayment.com

Take a look.

Stymie

TBW2013 wrote: »

I've recently been in contact with these people, and was wondering how the hell this can possibly be legitimate? capitalrepayment.com

Take a look.

I an genuinely shocked to see these guys are still around. Last I heard they were heading to the US to launch "Chip and Pin"
Might sound amusing - but its TRUE.