October 2013: balances have been cut off
Why did they do that? I know of other accounts who were treated in a different way. I wouldn't understand why. Was it because I'm writing this site? This site is the response given to the world due to the lack of attention that our e-mails get from them. Ten or one hundred, no matter how many messages have been sent to them, the result has been the same: Zero Response.
But the world is still spinning and life is still blossoming on Earth. Their site is still floating in cyberspace. Will they correct my balance? Oh, I know all I could aspire is to maybe 4 or 5 times what they have credited me with. But the amount as it is right now is simply unethical.
Clearing Things Up
After all these years, what did SportArbs do with the money? Who knows! But certainly, they didn't do what we thought they would do.
They claim—read below—to have $121,000,000 or ONE HUNDRED AND TWENTY ONE MILLION US DOLLARS in a undisclosed bank in New Zealand. The below communication serves one purpose and only one purpose: encourage people to send the payment for their debit cards.
The amount of money the SportArbs investors of 2010 will receive is way less than what their money was supposed to have earned. No matter how much money your account shows as active, invested or outstanding balance, it is worth at most $200,000 (TWO HUNDRED THOUSAND US DOLLARS).
And all that you will get paid of that «balance» is anywhere from a minimum of 20% to whatever amount of people identify themselves properly to be part of those that will receive a Debit Card.
To some of us, it is convenient that most SportArbs investors do not pay for the shipment of their debit card. Why? Simply because, the less people who pay, the more money those who do pay will be able to receive into their debit cards.
It's simple: $121 million divided by 20% of 200,000 = 3025. That is the amount of people with that amount of money expected to pay for their cards. But, what if only 1800 pay? Then we get, instead of 20% of 200,000, we get, then, 33.00% of 200,000. This is for all those who have balances above $200,000 US dollars.
At least, a lot of us will be able to recover in full what we invested, plus way less than the promised earnings, but way more than our investment would have yielded at any institutional banking system.
Read below: it's very interesting!
Of course, you must read this Sportarbs Russian Staff Interview now!
The Debit Cards from SportArbs are Coming!
Unfortunately, not yet. Now I'm skeptical. But who knows! Maybe this time the good news is really good news. Let's see.
What it seems to be
This bank is not the first bank they have been able to reach an agreement with. They imply—for what they say in their page—that they had previously reached favorable agreements with other banks, but the agreements were—for any number of reasons—broken before any real work could be done.
This time, in order to be able to successfully maintain the relationship with the New Zealand bank, they won't let any information about the bank leak to the public—us, the investors—since, in the past, when such information leaked, the «enemies» of SportArbs—our enemies—spoiled the relationship.
DHL Debit Card Plastic Shipment Costs
It must be done like that because «that's the bank's policy», of course.
And the funds to pay for the card shipment—about US$120—should be paid by each and every investor, no matter what your balance maybe. Even if you have 1000 times what the shipment will cost, they don't want to use their funds to make this payment.
This, frankly, doesn't make any sense at all! There's no way they will be able to make any individual with at least 1 cubic centimeter of brain believe that this is an honest move. No way!
We're talking about $120 times about 5000 investors. That's about US$600,000 that they will certainly collect, simply because this is part of what could be a game—I'm not sure it is, I'm just saying that it looks like it's one more game.
If you have a chance of being able to receive the one and only way to withdraw your alleged earnings from SportArbs, who wouldn't pay for it? Of course, a lot of people will pay. It's like your lottery ticket is slightly more expensive, but you have earnings you'll be able to withdraw.
Unfair Treatment of Decent Investors
When I deposited my money via GP, it went from my account to their GP account! Right there, right the split second I hit "Pay". That's it!
Was it not real money when they received it? Didn't they proceed to invest it in double bets or sure bets? If they didn't do that, is it my fault?
Then, why are they punishing those who deposited through those systems by paying them only 20-22% of what their money would have earned with the sure bets?
The history of my investment can be very easily obtained by simply taking a look at the movements in my account. It was one single payment, one time. I have never ever withdrawn 1 dime from them. Zero, nothing.
So, we have here the exposition of a hard measure that makes the other measures look or sound «true».
- The investor deposited
- The investor reinvested
Today, the investor should have whatever the investments were supposed to have generated, that is, IF the money was in the right place at the right time.
It was always SportArbs' responsibility to invest the money deposited by the investors immediately with the Arbitrage operation. Accounting wise, that's what should have happened!
Their New News (September 6, 2012)
I have placed my comments in italics and enclosed them in boxes.
The Debit Card Fees
If you haven't read the SportArbs Russian Interview, please do!
The latest (October 2012) Notification from SportArbs
As you may remember, long ago in 2010 our company faced temporary difficulties because of a mass fraud committed by means of a referral program. Our accounts were frozen due to a fraud prevention reform. Our master account with $121,000,000 in a New Zealand bank (for security purpose we do not name it) was blocked as well. Numerous attempts to release our bank account failed by virtue of a large amount of clients’ complaints. Everyone wanted to get money back, at least some part of it. The bank was ready to give the money back to our clients, but it did not have enough information to whom it should return money and how much of it. It happened as all money came in through us, and we received via electronic payment systems.
Eventually in 2012 bank lawyers and our lawyers reached the decision to return the blocked money to investors using SportArbs debit cards issued by the bank. This spring we signed bilateral agreement on debit cards issue, and within 6 month our company must provide the bank with the complete list of clients to whom we should pay off the debts.
To issue and deliver your debit card the bank must be provided with your identity documents and address. And also the delivery of your debit card should be paid according to DHL rates. Only if these conditions are observed the bank will issue a debit card for you, transfer money from our company’s blocked account and send it to you.
At the expiration of 6 month period (November 7, 2012), all unverified accounts will be considered invalid and will not be compensated, so we will not be able to prove it to the bank that such accounts exist. Debit cards will be issued only for those persons, who will produce the documents and pay for the delivery.
Since the amount of money on our account is limited, after compiling the list of investors we will be able to figure out what percent of your current balance should be transferred to your card. The investors who deposit their money for the first time in 2012 will receive 100% of their balance to their debit card. The percentage of payment for other investors will be calculated depending on the amount of verified investors, but the sum will be no less than 20% of current balance (maximum balance is $200,000).
It means that if all the accounts are verified, you will receive 20% of your current balance or currently active deposit (or deposits) to your debit card. If only the half of accounts is verified, then you will receive 40%, etc. If your balance or active deposit is $700,000 or $900,000 , the maximum balance will still be $200,000. Even if there is $2,500,000 on your account, the maximum balance will be $200,000.
Due to the fact that we explained the key part of the problem to many investors by email, there appeared numerous messages on blogs and forums which state reasons why you should not verify and pay for the debit card delivery. The arguments of such authors are absolutely baseless and, in some cases, completely absurd. The only point in spreading such messages is that their authors understand clearly that the less people verify, the more money they will get transferred to their debit card. Such messages are spread by the same frauds who are responsible for the company’s crisis in 2010.
Our company has been negotiating with the bank for two years understanding that it would have not a cent from that bank account, because all the money would be distributed to the investors’ debit cards. And it is important for us that as many investors as possible receive the debit card. It is important for our company to gain the investors’ confidence back.
Sportarbs International Corp.