I don’t know if you recall The Millenium Club from out of Birmingham and how one reader lost £5K+ from these people. Well, I have it on good authority that they are now operating under a new name at www.shirecrest.co.uk using the same empty promises to detach you from your hard earned.

So how do they do it?

A quick look at the website at www.shirecrest.co.uk and I am reminded of the exact methods used by The Millenium Club which didn’t deliver. Simply put: “With your permission, we gamble your money for you and pay out any profits at the end of the calendar month. For this service we charge a 10% commission. For this we make sure that every bet is placed as it should be at the correct amount and more importantly that you are paid your winnings. The aim of the consortium is to win on average, approximately £180 per month for every £100 you chose to use as your stake money/investment. The minimum stake money is £250 which should give £450 per month on average. (2.5 x £180). £500 stake money should give £900 (5 x £180). etc.”

This reminds me very much of the BODY BYTE scam which I fell for in the 1990’s to the tune of £5K. Can you see the greed monster knawing away at you.

It goes something like this: “If he makes me £180 for every £100 placed, then all I need to do is get £1K together and I’m on £12K a year free and clear (or any multiple thereof – depends how strong the GREED monster has got you).” This is how these “scams” work – on your greed. This is how, I suppose, the reader lost his £5K+ as he was blinded by the possibilities. Well, learn from his losses and please do not get involved. The same 60- day clause is in effect:

“As a business we only stipulate one condition which is that you let us place bets on your behalf for a full two months. That is 60 separate days on all bets advised. All profits made in that time are added to your initial stake money. The commission we charge is our minimum fee for your membership. Your stake money always belongs to you as it stands and you can ask for it to be returned at anytime after the 60 days. With the bets winning it is doubtful you will do this.”

This 60-days leaves me very uncomfortable – why such an arbitrary period – I suppose with no regulatory body, they can make up their own rules. And this little part of the website left me cold. This 60-day period may allow them to put their cunning plan into effect. Members of the Millenium Club would, oftentimes receive letters like the one below:

“Dear Member” letter. They thanked me for participation in their club and then, with excuses and apologies, informed that “The outcome at this time has meant that your entire stake money has been used. Indeed due to us allowing you part of our commission back to use for bets we have let you use more than you initially sent in. Therefore your stake money is in the red….” Then a bit further they wrote: “As an existing member who has participated in good faith we hope that you canaccept our apologies for this outcome and will consider giving us the chance to not only win your stake money back for you but also to win you those profits which we all want. Should you decide to invest another amount we will of course stick to the original plan which is where our expertise lies and select small price favourites with over a 50% chance of winning. However, not only will we do this, we will also treat each day individually which will mean a lot more work on our behalf….”

What the feck!? Their expertise has apparently lost initial stake money (although my guess is they have NOT bet with it and are looking to extract more funds)! “Please remember your stake money always belongs to you as it stands and you will never be asked to invest anymore. However you may be offered the chance to increase from time to time depending on our guaranteed we will be able to do this.” Oh not, not another “please can you place bets for us and forward us the winnings (oh and you’ll be burdened with the losses which we have no intention of helping you out with at all)”

Yes, with The Millenium Club, customers were asked to place bets on behalf of the people behind the club. This is a practice I have talked about on many occasions as something which is not a business partnership in any way or form – you take the losses yet are expected to forward the winnings! A sorry state of affairs I think you will agree and another example that no regulation means people will try anything to extract your money from you. Avoid like a week in the Big Brother house with Jade Goody (and her Mum!)

www.moneybacktips.com

You know the saying “If it sounds too good to be true then it probably is well that was my immediate impression when a reader asked me to investigate this site. Why? Well these words caught my attention “Plus Discover Why You’ll Also Receive £957.98 Just For Trying Out These Tips” £1K –yes please mate just for trying out your service – easiest cash I’ve ever made! I read through the copy and discovered Derek Edwards the founder was a recovering gambling addict. Hmm clever copywriter angle or true? There’s only one way to find out – I decided to send an email with my concerns along the lines of how someone can send £1K out to new subscribers, was he really a recovering gambling addict, who are Venetian Tips at the base of the website and is this a scam to extract bank details (the £1K lure!)?

I must admit I wasn’t expecting a reply and was

surprised to receive a lengthy reply from the bossman Derek Edwards himself who was most upset with my questions -but as a consumer having not met these people in an unregulated industry THIS IS MY RIGHT! Derek answered all of my concerns and so followed some tooing and froing regarding emails. Yes, he was a recovering gambling addict but had come across a sure fire method of making money with his tips and patented staking plan.

As to the £1K – well my assumption in my initial email was that this wasn’t £1K cold hard cash as I would just get family members to sign up with him for £25 which I would pay and pocket the moolah – the £1K I assume to be bookmakers incentives and bonuses. I have signed up, having got the impression from our email correspondence that Derek Edwards is the real deal (although having not met him or spoken to him this is not definitive – suffice to say he replies to emails immediately, and his answers are educated and complete). I have received the introductory emails and they are professional, clear and leave the impression that Derek Edwards and Moneybacktips are a legitimate organisation. Alas the emails and tips were received too close to deadline for me to report comprehensively but I do look forward to receiving the advices and reporting back to you most importantly on the £1K bonuses because I’m sure this is what you want to hear about!