Hyip weekly report:pathway-2-poverty is confirmed. Fresh news about the old scam

After bunches of complaints about a hyip Pathway-2-Prosperity or P-2-P all over the hyip world community websites, several members who have been scammed started to take more aggressive method in order to bring the scammer into justice, to prevent other newbies from falling into this scam trap, as well as the possibility of gaining their money back. They had reported about their losses to the United State authority and as a result the securities commissioner had published a warning on P-2-P internet fraud. North Dakota Securities Commissioner warned about the P-2-P internet fraud and published it on their official website early in this month as follow:

“SECURITIES COMMISSIONER WARNS OF INTERNET FRAUD

Posted: August 6, 2008

Bismarck, ND – North Dakota Securities Commissioner Karen Tyler announced today that the Securities Department is actively investigating a Canadian-based, internet fraud scheme currently being promoted in several communities in North Dakota, including Bismarck and Jamestown. "Pathway-2-Prosperity" or "P-2-P Network" promises returns of 1.5% to 2.67% per day. An example hyped in its website of $100 invested in the "60 Day Plan" would return over $260 in just two months. "This has all the earmarks of a classic Ponzi scheme with money from later investors used to pay unrealistically high returns to early investor/promoters, who then bring in their family members, friends and co-workers for a 'referral fee'," said Tyler.

The scam claims to be a legal, private investment club and not subject to state and federal securities laws. This is completely false. "P-2-P Network" is not registered with the North Dakota Securities Department and offering for sale an unregistered, non-exempt security to a North Dakota resident is a direct violation of the North Dakota Securities Act. Local investors encouraging the scheme and referring others to invest for a fee are also violating the Securities Act as unregistered agents of the foreign promoter and could expose themselves to civil or criminal liability. Commissioner Tyler warned that investor money is leaving the country and when the scheme collapses, as they always do, it will be almost impossible to recover any part of it.

"The key to avoid getting harmed by an investment scam is to make sure you understand the product being offered and thoroughly check both the salesperson and the product with our Department," said Commissioner Tyler. "Remember, if it sounds too good to be true, it usually is." The investigation by the Securities Department is ongoing and individuals with information concerning this activity are encouraged to contact the North Dakota Securities Department at (800) 297-5124 or 328-2929 (Bismarck local).”

P-2-P is run by a Russian named Nicholas Smirnow who now lives in Canada. Roughly, this hyip promised a return of up to 150% after 60 days (2 months). And let’s say a member invest $1,000 and choose to compound 100% for the one full year (6 cycles), that person will end up with a whopping of $59,000 plus. There is no way this hyip could give such lucrative return for a one time investment of only $1,000 within one year only. The owner said the pay out will be made within 10 days, however most of the members have pay out pending for months.

Previously, we also have had written a report about P-2-P scam when Nickolas has no idea and failed to give the exact answer when members asked as to whether it was legal for USA residents to participate in his program. That shows that he did not know the basic of offshore investment. Or maybe he did know but did not want to tell because members would come to know that if you lose money or being scammed there is not much that can be done to retrieve those funds as it is offshore.

The owner also prevents members from discussing about P-2-P on public forums, blogs or any other websites. Big possibility he does not want his scam activity be heard or noticed publicly and does not want to attract the attention from the authority if his scam is spread widely.

The admin also plans to introduce a debit card and his own payment processor. If you have been long enough in this hyip world, you can figure out that is a clear red sign and scam alert. History has shown that any program which had planned to launch a debit card and payment processor ended up as scammer.

Most members believe P-2-P was started in February last year, however, we found information that possibly P-2-P had started in 2006 but with different kind of program. Take a look below:

“OFFICIAL LAUNCH . . . SAVE OVER $26,300 !!

Date: Oct 28, 2006 17:29:11 PM CST

This is a Program anyone can do & you can earn your way up into the Levels you want to advance to. Imagine how many people you could get into your business if you could answer their number one objection; "I don't have the money OR I don't have THAT MUCH money". NOW YOU CAN !! If you were to join each of the Programs that are in the 6 Levels individually on your own, your cost would be well over $26,500 ...... So with a One Time Payment of ONLY $124.95 ... ..... Well, you do the math with regards to YOUR SAVINGS !! All I ask of you is that you simply check this out .... and if you like what you see and are able to "grasp" what is actually here "for the taking", then join up TODAY and let's ALL become independently wealthy together and as fast as possible !! It does NOT matter what YOUR level of marketing experience is because we offer complete "one-on-one" support & mentoring, live online training modules, extensive assistance, etc. etc. Absolute beginners to seasoned professionals are ALL welcome to participate !! We are REAL people ... not just some automated voices, We are ALWAYS available ... to help with YOUR coices !! Let's face it people ... everything seems to be too expensive, Our Program is CHEAP .. BUT Our assistance is EXTENSIVE !! In Life you stand at crossroads ... which Path do YOU take ? "Pathway 2 Prosperity" has the MONEY YOU want to make !! Let YOUR grief over money ... FINALLY pass away .... Join "Pathway 2 Prosperity" ... BUT DO IT TODAY !!! To learn more simply click on the following link .... http://simurl.com/P2P-cv Just so you are aware of what we do for ALL of our Members, each and everytime someone clicks on the link above, they automatically go to one of our Members' sites, as we also do our own advertising & promoting, and we install ALL of our Members' sites into a rotator, allowing each Member to receive the same amount of exposure to their own sites via OUR efforts !! If you have ANY questions at all, simply click on the Support link while visiting the website, and contact us immediately !! To YOUR Success !!!

Price: C$124.95”

And when we checked the whois information, the domain of P-2-P was created in 2006, take a look here:

"Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)

Domain Name: PATHWAY-2-PROSPERITY.NET

Created on: 14-Oct-06

Expires on: 14-Oct-09

Last Updated on: 20-Jul-08"

But we are not sure whether both programs which ran in 2006 and the current one belong to the same owner. If they are, Nick has scammed twice with two different programs. We also heard from one of members who did search on it found out that Nick Smirnow could be running and a CEO of a few other companies as well which are R.D. Direct Marketing Group (he always use ‘rddirect’ as his nickname on various programs and forums), N.D.S. Enterprise, and DIANIC Holdings International (maybe DIANIC is a combination of ‘Diane’ which is Nick’s wife and his name, Nick).

It’s almost impossible to find a real deal in the hyip world. A real investment company needs to be registered with the securities commissioner, finance ministry or other relevant government bodies depending on the country. Therefore, do not fall into ‘sweet talk’ says by the admin and sleek trick plays by him.