Cashplus

campins

What do you think of this Group working out of Jamaica? http://www.cashplusgroup.com/ and the following article from the national newspaper http://www.jamaica-gleaner.com/gleaner/20070328/news/news2.html which, poses the question, if this is an unregulated company, is it neccessarily the case that such a company is more likely to fail than any other. Then there is the other question of the investments offered by the company, and the likely reaction of the rest of the group if an investment fails and investors are left high and dry?

Zebedee69

:spam: Nothing but the best...!

campins

what do you mean spam

Mikeyorks

campins wrote: »

what do you mean spam

.... he means the thread you've started here - and the same rubbish you're posting elsewhere :-

http://forums.moneysavingexpert.com/showthread.html?p=6693633#post6693633

campins

Not true :mad: :mad: It just led on from the previous conversation. If the subject matter is above anyone then please feel free to stay out of the thread

campins

Cashplus claim to have been running these accounts for five years

campins

Anyone else have an opinion about cashplus?

cheerfulcat

Hi, campins,

The company is essentially borrowing money from " investors " at 10%/month. If the business is capable of paying that level of interest and still making a profit, why aren't they borrowing from a bank at ( presumably ) a far lower rate?

Bargepole job IMO.

campins

But they are paying 10% on your investment for a three month lock in, so they are paying you ???

cheerfulcat

It's almost certainly a pyramid scheme of some sort and as such will end in tears. The worst thing about pyramid schemes is that they suck in a lot of naive ( and, let's face it, greedy ) punters by paying the first lot with money from the subsequent ones. This makes it appear like a viable operation.

campins

They claim it is mostly day trading with about 75% of the funds :beer: