World Wise to re-open online today

Posted on August 5, 2008 by investforlife

After two (2) months of being closed, World Wise promises to re-open today but online only. On June 2, 2008, World Wise suddenly closed their doors leaving partners dumbfound and shocked. Many partners who did not get notice turned up at the Ruthven Road office of World Wise only to find it closed. In June 2008, the manager, at the time, also resigned pointing to poor record of accounts, poor accounting information, poor asset management; missing check leaves and staff problems including insubordination.

Reasons for closure
After months of reports of problems with payments World Wise had closed their doors. They stated that during the 2 months closure they would carry out audits of user accounts, install new software, re-located to bigger and more spacious offices and carry out staff training. They have also had their share of problems with the banks, and one is not sure if they have any account open with any bank in Jamaica. Their accounts at RBTT were closed in June 2008 following a short legal battle.

Tell us what we owe you
Following the June 2, 2008 closure, a letter was sent out asking partners to state how much they had deposited and how much the had withdrawn, principal and interest. This request was repeated in a letter released around July 16, 2008. For an investment house involved in Foreign Exchange, this is seems very strange. If a commercial bank was to make such a request of clients, the life span of that bank would be in question. Attention to details is critical and proper accounting is crucial to maintain investor confidence in a volatile market place.

Closing Some Accounts
Partners with principal invested between $300 and $5000 will have their accounts closed ‘in ascending order’. No definite time has been given when these partners will be paid just that they will be given an appointment date to come into World wise and then they will know when the money would be wired to their accounts.

Partners who have made requests for encashment will have to use the online Request Portal and must re-submit their requests.

Returns for July known from Mid July
In a letter dated July 18, 2008, World Wise announced that the gain for June was 4% while for July it would be 6%. This is interesting but one suspect that they will say it was a short trading period in July 2008

World Wise says that they will not be taking any new members or new deposits until they are regulated by the FSC. They also will only be allowing withdraw of principal once a quarter but monthly interest payments will continue.

An application by World Wise Investments is before the FSC. There is no application from World Wise Partners according to George Roper in an interview with a media house earlier this year.

World Wise in a letter to investors claims it will open the physical offices on August 31, 2008. It is not clear when monthly interest will begin and whether or not given the current alternative investment climate if partners will not all be making encashment requests.

Related:

N.B. We hope to hear from investors how things are going and you can let us know by sending us an e-mail at hyipmyths[at]yahoo[dot]com. Replace [at] with ‘@’ and [dot] with ‘.’ with out the quotes that is.

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21 Responses

  1. Jay, on August 5, 2008 at 8:13 am said:

    There is much excitement of the #4 bus to WW opening up online today, as many are complaining that they cannot log in.
    If you look at the posters, its the same guys who got burnt, but all those other AIS that have already crashed.

    It appears that as long at 10% was being offered these guys were all “signed” up.

    We shall see what happens today

    Reply
  2. Jay, on August 5, 2008 at 9:15 am said:

    Worldwise cliente are reporting problems getting into the online portal.
    Someone submitted this was to get in, however my IT person is telling me its a spoof site.
    Here it is;

    http://supportcenter.worldwisepartner.com:8080/sd/SolutionsHome.sd.

    All WW clients DO NOT USE the above as is being reported on the #4 bus.

    Reply
    • Dwight williams, on August 31, 2010 at 8:53 pm said:

      what’s up with woldwise,are they not going to pay.5000 us is a lot to lose in these time.

      Do any one out there know what can be done to atleast recover some money .

      Reply
  3. JohnDoe, on August 5, 2008 at 9:28 am said:

    @jay, Not So!

    1. They have set up a sub-domain supportcenter.worldwisepartner.com.
    2. They are they running the http service on port 8080.

    Nothing wrong with that , it quite legit.

    This section is for partners/investors to submit support questions/problems/issues. The other login is to login to their accounts

    @chromatic .. how is it going?

    The question is will be just be checking balances or arranging to take all their money out!!!

    Reply
  4. Jay, on August 5, 2008 at 10:38 am said:

    I stand corrected .

    Reply
  5. chromatic, on August 5, 2008 at 10:53 am said:

    John,

    I am not understanding what to do at all.I submitted for full closure using the Submit request for ticket located at the right hand corner of the page which i did at about 6 a.m. then

    I then used my email address as username and password as instructed and went to another page which hand pending requests and completed requests

    Pending — 1
    completed – 0

    I am going to further assume that my request for closure is therefore still pending and has not been confirmed by anyone as yet.

    But what the hell am i talking about this is just a complete waste of time how the hell can people be submitting requests for money and there is no interaction at all nobody knows who is who none of WW so called reps have any KYC on who they are dealing with WW is a patty shop to the 10th power they should just close out everybodies account give the people what they can give and just call it a day i am just fed up with them.

    Reply
  6. AUSTIN BROWN, on August 5, 2008 at 11:19 am said:

    worldwise partners served with cease and desist order by the fsc.

    time 10:30 am tuesday august 5, 2008

    Reply
  7. jay, on August 5, 2008 at 2:18 pm said:

    Worldwise outline steps to use online Portal system

    STEPS TO INPUT REQUEST IN WORLDWISE ONLINE PORTAL SYSTEM

    1. Go to WorldWise website or go to link:http://supportcenter.worldwisepartner.com:8080/sd/SolutionsHome.sd
    2. See instructions to the right of screen – Click here for Online Portal
    3. Click on submit ticket
    4. Complete fields (In description section – provide details of your request)
    5. Click Save
    6. An email acknowledgement will be given of your request together with a username, password and link
    7. Click on Home link on same page or the link provided from email acknowledgement
    8. On the Home page – enter email address in the User Name and Password fields or use User Name and Password provided in the email acknowledgement
    9. Click on New Request Link at top left hand corner of the screen
    10. Complete all required fields, including Name, Account #, TRN #. Identification # and other relevant details
    11. On completion click on Add Request – this will now display your inputted information and a Request ID#. Your will then receive a confirmation email.
    12. Your request will be dealt with chronologically on a first come first serve basis –no exceptions
    13. The online portal will be opened during the hours of 9:00 am and 2:00 pm daily
    14. A total of 50 requests will be processed daily

    Reply
  8. chromatic, on August 5, 2008 at 8:46 pm said:

    Thanks Jay

    Reply
  9. sirach, on August 5, 2008 at 11:20 pm said:

    Happy Independence day! Feel independent? Not really? Why?….Feel like you want to be indeoendent of the schemes?

    Hush?

    Reply
  10. kingstonchronicle, on August 7, 2008 at 12:28 am said:

    Personally I think there is a far better option for Jamaicans looking to invest in Jamaica via its entrepreneurs.

    Look no further: “Kingston Venture Capital”

    I will keep you posted. Just follow the link for more info TBA

    http://kingstonchronicle.com

    Reply
  13. sharon m hill, on August 13, 2008 at 8:54 am said:

    i need to get on line to request my money.

    Reply
  14. Sunshine, on August 15, 2008 at 9:05 am said:

    I notice the portal is open from 9-2..is that why i dont see the “submit ticket” button??

    Reply
  15. Gemini, on August 19, 2008 at 1:31 pm said:

    @ sharon m hill……good luck. Little or nothing seems to happen after one submits request. WWP is giving a 6 for a 9.

    Reply
  16. steve, on August 26, 2008 at 7:10 pm said:

    i live in ja how can i take action against that crook, Stratchan and im tiefing and liar wife since they have migrated? i have been requesting my money before they closed their office for the 60 days.

    i want them to be sent back here to face some harsh penalty

    Reply
  17. Gemini, on August 27, 2008 at 3:39 am said:

    @ Steve…well FLL is just next door. So he can run for the time being but cant hide. Also he seems to forget that many Jamaicans who invested in WWP actually reside in Florida.

    Reply
  18. selvin dario zamora enamorado, on November 27, 2008 at 5:02 pm said:

    hello please i need your help how i can see my account balance my account number is 1000016128

    Reply
  19. Dwight williams, on August 31, 2010 at 9:03 pm said:

    I need my money desperatly if any one hear’s anything let me know.

    Reply
  20. JACQUELINE LYNCH, on October 19, 2010 at 4:12 pm said:

    Are these People going to tell us any thing at all about our money?

    Reply

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