Good money after bad
So now you are going to throw good money after bad on this debit card huh?
Some of you people just will not wake up!!!
Fine...don't coming whining to the rest of us when a year from now somebody has stolen your identity and racked up a bunch of charges in the carribean on your good name.
Kim can't go with a reputable company in the US because he is a scam artist. He can't even get close. How many of those credit card applications do you get in the mail? Does it look like they are very selective? But yet, he can't seem to cut a deal with one of them. Here is a guy willing to supposedly hand over 20,000 consumers. That is a big deal to credit card companies. But, no. Can't do it. Why? Cause his reputation will not fly.
STA Debit Cards - another flop
offshoreIssued through Banco Promerica of Costa Rica. Okay, it is offshore, not a big surprise with Kim, he seems to like to do things out of the way of any US authorities. Lets take a look at it.
FeesFirst thing...WOW, look at all those fees. That would turn me off right there, but I know some of you die hard fans of Kim will think it is ok. Simple thing is though, if it were a legitimate business they would be able to get better rates. High risk, high cost, just like any other financial transaction.
no deposit insuranceThe issuer of the debit card is Banco Promerica which is one of the smaller private banks of Costa Rica. According to what I read there are 19 private banks in Costa Rica and they are relatively a new thing. The greatest disadvantage of the private bank is the lack of deposit insurance.
record keepingPrivate banks have been undergoing a consolidation, with the total number of banks declining. Further consolidation is expected, as the size of the Costa Rican market is inadequate to sustain the number of banks that remain. Were they to get absorbed I would wonder if my debit card account was going to get transferred correctly and still be usable. No problem though if it doesn't, just call a bank rep to straighten it out. Long distance...brush up on your spanish.
bad neighborhood?Promerica has branches in: Nicaragua, Guatemala, El Salvador, and Honduras.
Gee, some of those places sound familiar. Oh yeah, they seem to have a have had a lot of political strife over the last 20 years, but I hear it is much better now.
New ymmss sta scam poll
last one here, one not so serious on the right.
The latest from Kim Inman the flimflam man
Let's see...ok now I need you to let us spam your friends and family with emails while I pay you 11 cents a week. We will have prizes with unrealistic values. That's so I can issue you an inflated 1099 next year and write it off as a cost.
Oh, and if the business fails, well its all your fault, not mine.
Responded to a poster elsewhere, thought I would share it here
Yeah, I knew about the dislaimer. I think most of us did. We just never imagined it would change so radically. However even with a disclaimer they made certain guarantees in their sales pitch. Let's just take the 90 day cycle guarantee for one. Now some want to rewrite history by saying "oh, that was just a goal", but I remember the sales copy I saw and it was solid.
Anyway back to the 90 days. As soon as it went to 91 they were in violation of the agreement and anyone should have been able to get a refund. Going to 91 is a flaw in the system. That is not an intentional change to the system. So I don't think that can be covered under the disclaimer. What they have done to the payment plan to "correct" (if you want to call it that) the flaw is a change.
If instead of refunds they had allowed us to redistribute out EPC purchases that might have made some people happy or happier, but they didn't.
As you most certainly realize, each pay plan lends itself to a certain strategy on EPC buying. I think the old plan worked for all of them from 320 down to 10. Since you were going to earn your money back within 90 days 320s were ok. Have more time than capital? Buy a 10. Or any where in between. It was the most flexible. There was something to be said for each way and I bought across the spectrum.
In the new system I just can't see how it makes any "sense" to earn "cents" on a full 320 purchase. Buy 10s and let them mature.
The disturbing part of this is under the old system Kim offered people advice on how to purchase, what would be best for their circumstance. Some might say, "that's just advice" or "it was verbal". But, because he is Kim and the mastermind behind the program he brings a certain air of authority to things he says and should be liable just like a lawyer who gives advice.
From a personal standpoint if they had treated me decently, let me rant in the Ym forum, and given me a refund I wouldn't be here. I wouldn't have my
ymmss sta scam blog that comes up evertime you do a search on google for
ymmss sta or
ymmss scam.
But, they wanted to do it this way.
New poll to the right, previous poll results here.
I want you guys to notice the 2 50k+, ouch. Kim Inman has a lot to answer for.
For all newcomers who might be checking it out
You will probably find the opinion on YMMSS / STA divided between those who say it is a scam and the worst thing they have ever been involved in and others who say it is the best thing to come around since sliced bread. Here is the way I see it.
The ones who are trying to sell you and say it is great are those who got in early on the original program and made a lot of money already or those who are desperately trying to get their money back out and the only way is to hoodwink a bunch of new suckers.
Then there are those like me trying to warn you off of it because I got in late on the original program, have never received any money back out of it and have accepted that loss. I do not want to see someone else make the same mistake. Don't give those thieves your money. Don't waste your time. If it was such a great program would you hear so much bad about it?
I mean think about it. If you have to put "no refunds" in your user agreement then doesn't stand to reason that the situation comes up quite frequently. And if so, then why? Because they don't take care of the affiliates, they break promise after promise, shut people out of their forum and other websites, make you jump through hoops while they do whatever they want to from one minute to the next.
Who are you going to trust? The person who is telling you its great and wants you to spend money. Or the person telling you it is a scam and I won't get a dime from you.
A challenge to STA and Mike Hamilton
We have heard that Kim Inman is stepping down and Mike Hamilton is stepping up. They have published an affilliate newsletter with a letter from Kim and Mike.
In this newsletter words are used like care, trust, faith, and honest.
My challenge is simply this, if you
care about the affiliates, and want us to
trust STA and have
faith in its future offer a refund to members that are unhappy,
trust us to continue to look at ymmss sta and decide if we want to rejoin at some point in the future. Have
faith in us.
Mike, it is the
honest thing to do.
Who's to blame??
I'm starting to think these guys are all in cahoots together. All just pointing fingers at the other one while they all make off with the cash.
special link mention:
Stormpay Fraud Scam Ponzi
Internet Advertising Pyramid Scheme
A “Pyramid scheme” is what many disgruntled members are calling an internet advertising company calling itself “Your Money Machine Success System” or by the acronym YMMSS. Company literature states that “Success Through Advertising” or STA is the parent company of YMMSS.
Members were introduced to YMMSS beginning in June 2002 on the internet or through friends, family, and other acquaintances as a high return advertising commission program guaranteeing to double their funds every 60-90 days. The member’s only obligation was to read internet-based advertisements for 30 minutes each week and post ads.
Members say Kim Inman, the originator of the program guaranteed that the time (cycle time in YMMSS speak) for a commission to accumulate to double the amount of a single advertising purchase would never exceed 90 days. They were told that he had worked on the program for 6 months to create a unique system and that should the need arise he had reserve funds to keep the cycle time under 90 days.
From all accounts the system seemed to work for a couple years, but in 2005 the cycle times started rising beyond the guarantee. Sentiments were divided, early joiners who had already made many returns advised patience, but many others complained and asked for refunds, but were rebuffed. To add fuel to the fire the pay structure was changed and is now only paying pennies on the dollar in return. Also many U.S. members have stated they were issued 1099 tax forms this year for income they never actually received.
Many members feeling they have nowhere else to turn are beginning to make reports to the Federal Trade Commission, the Internal Revenue Service, the Securities and Exchange Commission, their local Attorney General, and just about any one else who will listen.
Latest reports indicate that Kim Inman is stepping down from the daily operations and will be spending more time in his Belize resort.
No Stormpay either??
So now they are recommending everyone just put their payments on hold because stormpay isn't working either. How convenient for Kim Inman and co.
What a crock. I can't believe some people still believe in this guy or his "system".
Heck, if you aren't paying out anyway just jack up the payments to anything you want.
Suspended??
Guess I am out of the program. I can no longer log in to the STA website.
You are all probably too well aware they have the disclaimer that there are no refunds because supposedly advertising space cannot be defective.
Since I can no longer post my ads that I paid for I expect YMMSS will be refunding me anytime now. After all, nothing is more defective than something you can't use. Even though it seemed pretty defective to me anyway since I never sold jack even before being suspended.
I want to thank who ever suspended my account for giving me this way out and allowing me to get a FULL refund.
A Jerk and a Conman
Kim (on the right) needs no introduction as the guy who has taken your money and returned nothing, but frustration and heartache.
Alan Hughes (left) you might know better as a mod on the ymmss forum. Yep, that's the guy who can't keep up in an argument so he deletes posts, moves threads, and bans members.
Supposedly he lives in Glasgow, Scotland, UK. Live nearby? Look him up, say hi!
YMMSS Hype # 2
YMMSS and Kim Inman has totally failed on so many of his promises it is ridiculous. Look below at some of the original hype:
==
If you choose to join YMMSS you're in for the ride of a lifetime. It is a remarkable business model that literally CHANGES THE LIVES of those who join it. How so?
It will put an end to ...
* Too much month and not enough money.
* FEAR about the future as you grow old.
* Not being able to help those you love when they're in need.
Those negatives will be replace by these POSITIVES ...
* SECURE AND GROWING INCOME - without having to go out to work.
* No boss to fire you or require overtime.
* TRAVEL TO PLACES YOU'VE ONLY DREAMED ABOUT.
* Meet new friends, there's a wonderful bunch of folks who have already found YMMSS.
* An excitement about life and your future.
* PEACE OF MIND.
YMMSS SUMMARY
"Buy online advertising, place online advertising and read online advertising, then get paid double what you spend." That's Your Money Machine Success System (YMMSS) in a nutshell.
This system is a machine that keeps on working, paying out 52 weeks a year. It produces a continuous flow of substantial payments into members' accounts. It never takes a holiday, never calls in sick and never goes out on strike.
Whatever your skills, your background or your geographic location, YMMSS will work for you, because it's a SUCCESS SYSTEM designed from the ground up with the express goal of producing success for everyone who participates. That's why there are no failures.
Some of the original YMMSS hype
YMMSS is a way to get paid double what you have spent in 3 months or less.
How? Whatever amount you spend on advertising to our paid safelist will get doubled in 2-3 months. (A safelist is a mailing list of people who have agreed to receive emails from each other.) In this case, all the members have PAID to belong. So your ads are read by the ideal target market ... which is people who have already bought online and are interested in quality business opportunities.
The PRODUCT that you're purchasing is "advertising to a high-quality paid safelist". Because it's a safelist, you have no risk of spam accusations, for the simple reason they would read your advert on their member site.
The best thing is that whatever you spend on ads, your money is doubled in each cycle. What's a "cycle"? It's the time it takes for your name to climb from the bottom of the ladder to the top of the ladder which is when you get paid your commission. That ladder, by the way, is called a straight line matrix and when you purchase your first EPC (Email Posting Credit) you step onto the first rung of a rapidly moving ladder.
Cycles take 60-90 days, and have been shorter.
If you put $10 in now, it will double to $20 in 3 months or less. That's a 100 percent profit in about 3 months. Your local bank or building society certainly can't beat that, can they?
Get your reading time in!!!
Auto Mouse 1.3 build 12;)
Not me.
I have made my first complaint today to http://www.ic3.gov/. I am sure my text and facts are not near complete, but I include them here for your information. I created most of it on my own and borrowed some from the matrixwatch templates. Best of luck to all.
--
The letter is in regards to an internet advertising/marketing/investment site which I believe to be fraudulent. The site in question is: http://www.ymmss.org
The original plan agreement worked as follows:
A member could invest 10, 20, 40, 80, 160, or 320 dollars. Supposedly this money bought advertising space. These units were called EPCs where each EPC cost 10 dollars. These units were supposed to double every 60-90 days up to the next level. The 60 to 90 days timeframe was called "cycle time" in YMMSS verbiage.
Once the EPCs had cycled to the 640 level the member would receive a commission of 320 dollars and 320 would be put back into the system in effect buying another 32 EPCs in that member’s name. The EPCs at this level were called “matured". At cycle time a member also always had the option to "claim via website" which meant when his EPCs doubled they could "cash out" and get their dollar value at any one of the lower levels.
The member’s only obligation was to read internet-based advertisements for 30 minutes each week and post ads.
Kim Inman, the "inventor" of the program guaranteed that the cycle times would never exceed 90 days. He supposedly had worked on the program for 6 months prior to rolling it out to come up with a flawless business model. Also he was to have had reserve funds and outside investors and retailers interested in the program. He was portrayed as a Christian person who had tired of the many failed internet ventures of his own had created something new and wanted to help others who had also failed.
In the beginning there were some detractors who wondered how the program could sustain itself. These concerns were always quashed on the YM forum by other members who said Kim had worked out all the details and it had and would continue to work. If a forum member was persistent or too vocal in his complaints the posts would get deleted and many members were also banned from the forum and during later events.
In early 2005 the cycle times started rising beyond the guarantee. While many complained, it was always explained as the result of technology failures or members not fulfilling their part of the agreement or outside forces beyond Kim Inman’s control.
Later on in the year it was announced that the program would be changing so that cycle times would be brought down to 90 days permanently and every member would get paid weekly based on how many mature EPCs they owned. The “commission” would however no longer be the $320, but what ever was in the total commission pool divided by the number of mature EPCs. It was obvious to many that the weekly payout would be very small. There were also many members upset and who wanted a refund. YMs policy was that refunds were not allowed since advertising space could not be defective. While many members expressed that this was not the terms in which they signed up under, YM also had a disclaimer that the program could be changed at any time. This said I have heard of a few members who were able to get a refund. I requested one but was unsuccessful. Also, prior to the rollout of the “new” plan the “claim via website” option was removed from the system.
While there were many months of delays and excuses the new system is now in place and as expected and predicted the payouts are very small. The commission on matured EPCs paid out at 13 cents the week of 2-8-2006.
I believe I have been the victim of a Ponzi or Pyramid scheme that is in its last days. Under the advice of the consumer awareness group Matrixwatch.org (http://www.matrixwatch.org), I am contacting your office to notify you of this fraudulent operation. It is my hope that your office has the power to investigate this matter. I fear that there are thousands of other consumers invested in YMMSS even as you read this, many of which will never see a return on investment. I believe that only government intervention will prevent more consumers from becoming victims of YMMSS. With that said, on behalf of YMMSS victims everywhere, I defer to your office for help.
links post
Passed this same link on matrixwatch, I will do it here, looks like someone has done a lot of research and gathered a lot of links, check it out:
Scam links
YMMSS Believers
Come here and tell me why you still believe. I know you come here and look, but you don't have the guts to post. This is a challenge to all the YM cheerleaders to post your thoughts.
Every day that goes by and you don't respond adds to the validity of my blog. Thank you for your silence, it is golden, and is louder than thunder...
You deserve it!!!
If after all that has happened you still believe in Kim and YMMSS then you do deserve everything you get. I am so tired of listening to the people that still believe. I don't care if maybe you got in on the beginning and made a lot of money. YM/STA is on the way out. When a stock goes bad you dump it. Wake Up!!!!
Mad about it, still believe, post it here.
Kim Inman Aliases???
Many people may not realize that STA has been the parent company of YMMSS since almost the beginning. Before that, however, it was an outgrowth of Inman Enterprises, owned by Kim and Sue Inman and headquartered at their most publicized Vincennes address.
The really interesting fact, however, is that before that there was a Burnworth Enterprises owned by Pat and Janna Burnworth at the exact same address (also owners of very many YM positions), and they were involved in Internet activities in the exact same style of "Kim" and "Sue" at the time. Now, possibly, one couple is a relative of the other--or one couple is only an alias for the other.
I borrowed part of this post from member salsa on matrixwatch.com. I invite anyone reading this to go there for more information. There is a link to it on the right side column.
Anyone waking up yet to the YMMSS Scam?
This is addressed to the YMMSS cheerleaders.
1) 1099s for you to pay taxes on monies you have never received.
2) 300k and 35K does no longer exist, if it ever did.
3) The loss of funds in Intgold and now Stormpay.
4) Processing delayed the very next week.
I've invited you before to comment here yet you stay silent.
I know, the truth hurts.
YIKES - Its official IRS 1099s
Members have starting receiving 1099s for cycled EPCs when they did not in fact get any money.
As an example a member who had put in about $3000 got a 1099 for about a $1000 worth of EPCs that had cycled.
Funny money, at its best.
Do you feel that YMMSS/Kim Inman has scammed you?
Poll Results:
| Votes | % | # |
|---|
| Yes | 54% | 22 |
| No | 41% | 17 |
| Not sure/I don't know | 5% | 2 |
| 41 votes total |
IRS Trouble - YMMSS/Kim Inman scams members again
Now they are saying "after careful review" YMMSS has to issue 1099s to US citizens for EPCs earned. This means you could have put in thousands of dollars, cycled, but never received one penny and unlikely to regain your money, but still have to pay taxes on it.
Once again Kim and Co. have mislead its members and on top of putting them into a financial hurt, now they will be in trouble with the IRS unless they pay taxes on fictitious money.
On top of this there are still so many members that appear happy to get the few pennies that Kim Inman has graciously decided to throw their way.
Issues with StormPay Subscriptions!!??
If you have a subscription with StormPay that was created before the new system went live. Please login to StormPay and cancel the subscription because it is causing errors and purchases are not being processed. Then login to http://www.stasite.com and create a new subscription.It is always something with these people. Now you are supposed to close accounts, create new accounts. Probably a scam so they can get credit for "new" accounts.
So, they haven't actually "paid" anyone at all.
YMMSS Kim Inman Scam Poll
I have added a poll to my site. It is on the right side near the top. I feel that many people are afraid to post here because of the bans going on. I have lost money just like you, I will never reveal your IP. I added the poll so we all could get a pulse on how the 20K members feel, not that that many will visit this site. Please vote, I have set it up so you can vote once a day and view the results.
Thanks.
YMMSS Migrating Data?
Website Update
02 Feb 2006 - K-ADMIN
We have started the process of migrating the data to the new system and new BackOffice. After that is completed we will be taking down the STARetail.com site to connect the databases and start processing affiliate’s reading earnings.
This is going to take a number of hours to complete. I would advise everyone to just set back, relax and visit with your family. We will get the site up as soon as you can and everything is working perfectly.
Once everything is up, we will bring up the websites.
Sincerely,
Kim We have started the process of migrating the data???? Uhhh, I thought you had already started it, wasn't THAT what was causing delays just a few days ago???? Can you guys at least keep your story straight. I mean it is like watching a bad movie where the plot doesn't make any sense. Sit back, relax, visit with family!!! Nope, can't do it Kim, got to go to work cause I haven't retired yet, still waiting for that 6 figure income with YMMSS.
Federal Trade Commission
Came across this interesting link on the Federal Trade Commission website:
http://www.ftc.gov/speeches/other/dvimf16.htmIt is an old document, but has a lot of good info. You can also search their main site for ponzi or pyramid to find other docs.
http://www.ftc.gov/
As the Ponzi turns
Website/Pay System Update 30 Jan 2006
- K-ADMIN Last edited by K-ADMIN, 30 Jan 2006
This will be the final update on the new backoffice until the site is ready to go live.
....Here is some information in regards to the new system that is getting ready to go live.
--Kim
----------
Final update?? Just This isn't even good business practice Kim. You have to let people know what is going on. Yeah, once a week would have been okay if the thing wasn't about 6 months late and if you hadn't rolled through another self imposed deadline. What was it you said? Something along the lines of ""the new pay system had better be up!". Or what...jack squat evidently.
Ready to go live? You mean kind of like our sun is ready to go nova?
-----------
The one before said:
-----------
25 Jan 2006 - K-ADMIN Last edited by K-ADMIN, 26 Jan 2006
Weekly Payment Update 1
Hello, We are working to get processing up this week. It will be up sometime during the next three days. It will not be up today for two reasons. There is still testing we need to do to be certain all will work as it should. We are very close. We need to complete transfer of monies to Stormpay to cover the $300,000 in the RFA. I will be issuing status reports as these two objectives are accomplished, including one on tonight's Conference Call. Please do not see this as a prelude to extended delays. It is not. As I said, we are very close.
---------------
The next three days...we are very close...more bull from Kim Inman, our founder...
Hey, Kim, can we start seeing this as a prelude to extended delays now???
Link between YMMSS Scam and Groundhog day Exposed
Groundhog Day is February 2nd.
It is said that if the Kim Inman sees his shadow, there will be six more weeks of STA Retail delays, and if he doesn't, that weekly payouts will be here soon.
Here we see “Belizeutawney Kim” in his natural habitat.
