Worldwise Updates Investors

We are now in possession of a World Wise memo sent to clients. In it the chairman, Strachan , highlights that no new deposits will be taken and that accounts less than $5000 will be closed. Below is the full text.

Dear Partners, 

I understand the anxiety you must be feeling at this time, and sincerely apologize to you for any inconveniences caused . I am very grateful for your patience and understanding as we look forward to facilitating all our Clients as we go forward with our restructuring process. 

Alternative Investment companies have come under tremendous pressure from external factors resulting in the removal of basic banking facilities; this naturally causes delays in remittance of funds.

World Wise Partners Ltd however, will not divert from our objective which is to provide people with the opportunity and means to enjoy a better quality of life. 

As a consequence we have given careful consideration to the following changes and policy decisions that must be implemented when we reopen to the public on August 5, 2008. They are as follows: 
            

  • WORLD WISE WILL NOT BE ACCEPTING ANY NEW DEPOSITS OR facilitating the establishment of any new partnership agreements until World Wise is regulated by the FSC or similar governing body .  
  • EXSISTING PARTNERS WILL NOT BE ALLOWED TO INCREASE THEIR ACCOUNT BALANCES BY MAKING FURTHER DEPOSITS.                 
  • Partner accounts with balances ranging between US$300 and US$5000 will be phased out first in ascending order.         

Request for all withdrawals and interest payments must be made using our Online   Request Portal . An appointment will then be given as to the date your bank account will be funded. World Wise will not be issuing cheques to Partners. Wire Transfers will be sent to the Partner’s Bank account. In some cases special arrangements may be made for Partners who for reasonable reasons require a bank draft.

  • Our online Request Portal will be activated on August 5, 2008 . If you have already made a withdrawal request you will still be required to resubmit your request via theONLINE PORTAL .
  • Absolutely no requests will be accommodated IN PERSON at either of our offices until further notice.
  • In keeping with the terms and conditions of our Partnership Agreement the monthly gains will now fluctuate based on the business performance – The rate for June is calculated at 4% and July at 6%  
  • Partners will only be allowed one withdrawal from the principal deposit per quarter ; this is in addition to their regular monthly profits. This will eliminate the unnecessary paper work that previously existed and will allow efficiency to prevail.
  • The auditing of accounts is still in progress and will be ongoing.  Please note that as soon as all accounts are completely audited and approved they will be posted on our website where all partners will once again have access to view their account information. We encourage Partner participation in regards to the auditing of accounts, so please continue to submit your deposits and withdrawals to us at balances@worldwisepartner.com . The relocation to our Old Hope Road offices has been rescheduled to August 30, 2008 at which time we will commence operating from more spacious and comfortable surroundings. Please be aware that we have been working assiduously on your behalf to create a more professional and Customer oriented environment that will ensure better services, accuracy and efficiency. Once again I thank you most sincerely for your patience, understanding words of encouragement and partnership, and commit to you that if we work together we can realize our goals and create for ourselves a better quality of life. 

Yours truly, 
Noel Strachan 
Chairman

World Wise closed offices on June 2, 2008 citing restructure exercises , software platform changes, auditing and a move to a new location. It also asked investors to tell them how much money they had deposited and received as they needed this information for audit purposes

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9 Responses

  1. hmm…..is VERY interesting… but it will be hard to imagine many people wanting to leave ANY money in these schemes/clubs/funds if Olint collapses….

  2. With what is happening with Olint, can you guys imagine what will happen to WorldWise when they reopen Aug 5th? Every jack man soul will be making a withdrall request – fi everything!!

  3. I am waiting for the 5th as i will be part of that rush for sure.

  4. I feel confident that World Wise will be able to settle their obligations;

  5. b4 unuh rush go ah ww unuh fi read di last letta di chairman sen out.

  6. can you publish the latest letter from worldwise

  7. is anyone being paid as yet or has anyone beeen able to acces their account at WW.

  8. @ nomoney……..No one has been paid so far. Obviously Noel Strachan is trying to pull a fast one. He has relocated his family to Fort Lauderdale and purchasing real estate with money that he should be using to repay investors. The people in the office are not sure when payment will start or if their new Liguanea office will open at the end of August. Noel is a crook.

  9. i invested 2000 for six months,i have never gotten any money from ou guys,so i am begging you please to let me get my money as soon as possible.i would like to get back all my money and close the a ccount

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