PIU : Scam or Incompetent Administrators?

My personal schedule has been hectic to say the least, but I thought I'd just share some more thoughts on this matter since a couple of people have inquired. Those who have read the 'reports' seem to think PIU were indeed hoodwinked.

Scam
Let's just say the arguments for PIU in this catergory is really high.

1. For starters, where in the world did this third party fictional(?) investment company come from??? All along I (and alot of others) was led to believe that PIU did all the trading. I've never once read on any forum nor in their newsletters that they had outsourced our money to a third party company. They had always inferred that trading and other investment vehicles were done by 'their traders'.

Now all of a sudden they dropped the bombshell that they had put our money into another company. Sounds like a desparate attempt to deflect attention. Now, let's say the reports are true, I'm still maintaining that I was scammed. Had I known there was a third party involved, my decision COULD have been different. That's of course not saying that I wouldn't jump in with a punt anyway.

2. I don't believe a word of the reports, nor any of the screenshots between PIU and their 'investment company'. If I had that amount of time (1.5 months, probably more) and that amount of money in my pockets, I would sure as hell have alot of motivation to learn photoshop and do my own screenshots. Moreover I believe the plans laid for this 'disclosure' probably happened much earlier.

3. They are discouraging us from reporting them to the authorities....for our own good. Right, I have to be 10 to be believe that. If I had treated this one like a real investment, and not another hyip game, and plunged a 5 digit sum in here, you can bet I would be pulling all the stops here, if not to see any of my money back, but to see these scammers put where they belong. Lucky them I only have the minimum $100 spend here. They had never given any concrete reason to put in more, although I admit I was seriously tempted.

4. Their newsletters are pathetic to say the least. My disdain for it is well chronicled in the MMG forum. With the exception of the last 2, it all seems like motivational crap. Half the time reading them, I felt like I was listening to some sermon in a cult.

5. I'm nitpicking here, but they actually had the audacity to wish us a Merry Christmas and a Happy New Year! The nerve!

Incompetent Admistrators
I skimmed thru their 'report' on their DD done on this fictional(?) investment company and personally I'm shocked. If you're pouring in 7 freaking digits into an investment company based in the US, then the first things you should be doing is to check if they are SEC compliant.

You would also think spending abit of money to actually visit the company and view the trading floor would be part of that DD package. I'm shocked, astonished and utterly amazed that they didn't.

Sounds like someone got greedy with our money, passed it on to some other scammers, and now they want to get away scot-free.

Conclusion
Seriously, you don't believe that bunch of crap right? Or did you buy it hook, line and sinker?

For what it's worth, the money's lost, one way or another. If you see any of it back, you should be laughing all the way to the bank....literally.

I'll end this with a quote in their latest newsletter. Things have indeed gone bad, and I'm showing my reptilian head. My hiss is, unfortunately, worse than my bite.

We know that it is of the human being to be closed when things go bad and react with the reptilian brain, but we will even though that you are responsible for your own acts to try to tell you that WE ARE VERY SORRY AND THAT WE DID THE BEST WE COULD TO OFFER YOU A GOOD PROGRAM.