WorldWise 7 years later – Claims of payment

In a 2013 article the Gleaner reported that the Jamaican cops were seeking the operators of World Wise Partners. The charges to be laid against the operators include operating an unlicensed securities business contrary to Section 7 of the Securities Act; operating as unlicensed investment advisers contrary to Section 8 of the Securities Act; and fraudulently inducing persons to deal in securities contrary to Section 47 (a) of the Securities Act.

Now in 2015, Noel Strachan one of the principals of  World Wise Partners continues to claim that World Wise was not and never was a Ponzi . However, the most interesting statement was that that 90% of investors/partners have been repaid facilitated by some unnamed lawyer(s).

But in a swift response to the Gleaner article, many readers questioned the truthfulness of those statements and pleaded for help. The Gleaner did  not give an idea how many responses were received. Some of the responses, abbreviated, are highlighted below.

  • … I invested a total of US$140,000……I was not able the to get any contact for World Wise or Mr. Strachan.
  • … The reality is that my investment has cost me dearly. I do not have a wife anymore…. You could forward this email to him ….
  • … I am one of those who is yet to recover monies owed by World Wise Partner/Noel Strachan…
  • … He owes me over US$7000 and I (am) aware of many more persons who are still owed monies…
  • … I was robbed of my life savings and I have been out of a job since 2008, and only worked approximately a year and a half since then.
  • … I would like to know if you can get in touch with Mr Strachan for me …
  • … I had some money in World Wise Partners ,,, Please, what can I do? Who can I contact at WWP?
  • … I have invested US$15,000 and I have not gotten back a cent. I have friends with far more than that and they did not get anything up to the time…
  • … I am not calling him a liar, but from the time they closed that place they emailed me once in 2008. I haven’t heard from them since and my email is the same, so are my address and telephone…
  • … The 90 per cent he spoke of, must be his friends. All my co-workers who invested in World Wise are still waiting.

Have you been repaid or lucky to be among the 90%? Leave us a comment here….

Related

Investforlife & HYIP Programs one year later

May 2009 marks  roughly one year since this blog started, and it is interesting the turn of events.  It has been a most interesting year as the details of the Alternative Investment Schemes(AIS)/Un-regulated Financial ORganisations(UFO)  came out. It was however sad to see and hear the stories of persons deceived and deluded, some even to this day.

While there were others, the following persons, Jason, Nocotec, Jay, Robin Irie,  JohnDoe, DaveSin  were particular targets of harsh criticism for the daring to call the HYIPs Scams. So reviled was this group that were driven from a site (blog) that will remain nameless but it is now known as the #4 bus.  Interestingly, it was the suggestions of some of the posters on that blog that resulted in the formation of this blog. 

Their suggestion was taken and investforlife.wordpress.com was born. One year later, having been featured on NationWide, CVM TV, mentioned indirectly by Observer writers, and over 950,000 page views, Investforlife remains while may UFOs have died along with many supporting websites.

Here is the list of the some ‘programs’ or ‘clubs’ and their prognosis.

  1. Cash Plus – Dead. CEO arrested and charged.
  2. WorldWise  – Dead.
  3. May Daisy – Dead. Anyone knows where the CEO is?
  4. Olint – Dead. CEO arrested and charged.
  5. Capital Blu – Dead  CEO arrested and charged.
  6. TCI FX – Dead.
  7. CARIEF – Bedridden.
  8. Higgins Warner – Dead.

Feeder Clubs – Dead

  1. Lewfam (Jamaica) – Dead
  2. SGL Holdings(Grenada) – Dead 
  3. KUI(Jamaica) – Dead
  4. Wealthbuilders(Jamaica) – Dead
  5. UWIN(Antigua) – Dead
  6. Vision Increase(Panama) – Dead
  7. Regency International(Florida) – Dead. CEO arrested
  8. F1 Investments(Florida) – Dead. Filed lawsuit against May Daisy
  9. Willshaw(St. Lucia) – Dead
  10. RKR Funds – Dead.

Some sites where the predominate theme appeared  to be the defense of the UFOs have also died or changed focus. We congratulate those that allowed the contrary fews to posted.

  1. jamaicainvestmentwatch.com (dead)
  2. cashplusinvestment.com (refocussed)
  3. http://www.highyieldsource.com/forum (in need of cleaning up, controlled by spammers)
  4. wealthmax.wordpress.com – remains for the record.

Thanks to all the contributors that have kept this blog going, despite the challenges. May this experience be a lesson to us. Think and check before you invest.

WorldWise Investor wins $50 million suit.

Radio Jamaica reported on Monday of this week that a World Wise investor, businesman Hurshel Cyrus has won his lawsuit agains World Wise. The Supreme court it appears handed down a default judgement as Noel Strachan, the defendant and Chief Executive officer of Worldwise Partners failed to file a defence.

This is very interesting, and quoting one posted on visitor to investforlife, “One took action and 11,999 too no action, one got a $50 million dollar action and 11,999 has yet to get a dime and more than likely will not get a dime.” It is understood but not actually determined that worldwise has about 12,000 members, who are still waiting to get back.

In the latest twist, World Wise’s Lawyers have indicated that they intend to appeal the ruling on the grounds that CEO , Noel Strachan was not in the jurisdiction and was not properly served. The question now must be was all reasonable efforts exhausted in attempting to serve the papers and if the ‘defendant’ refuses to make himself available in this civil matter should the court be held hostage?

Interestingly the appeal has not been lodged at this time

 Source:

WorldWise Paying ?

The Noel Strachan lead Worldwise appears to have made good on it’s promise to pay investors, as investors have began receiving small principal payments.

They appeared to have started off paying investors with small sums ie balances as low as US$300 and now is stepping up to larger sums.

I have it from an impeccable and a verifiable source that additional payments were made last week, which according to the source, the largest sum paid out  US$1000, while there were other payments between US$500 AND us$1000.

I can also confirm that the some checks were cash out and were good.

I was also made to understand that sums up to US$2000 will be paid out this coming week.

So where is this money coming from to pay WW investors, when one was asked the response was a terse” I really don’t care as long as I get paid”.

So are WW investors the lucky ones, and will everyone get paid, only time will tell.

D-Day for World Wise.

Once again World Wise have issued another promise and their ‘partners’ wait to see what will happen. On Wednesday September 3, 2008, World Wise notified their ‘partners’ of payments to begin this Friday. It is Friday and for many partners is either put up or shut up.

A few weeks ago information surfaced about certain property transactions involving the persons having the lastname Strachan made through a company called JUELLE PROPERTIES LLC. It is not clear were the money came from to buy these properties but given the current situation it raises some concerns.

The address, 12608 S Stonebrook Cir, Davie, FL 33330, is the address of the Manager(s) of Jullee Propertios LLC,  see Florida Records. The Managers names are Noel Strachan and Judy Strachan.

What is the relevance?  Is it a case of coincidence?

Property Purchases

Two companies, JUELLE PROPERTIES LLC and STRACHAN-AZIZE INVESTMENTS, LLC were registered April 7, 2008 and effectively began operating on April 9, 2008. There is another company registered in August 2007 called JADE PROPERTY DEVELOPMENT, LLC the same time as WORLDWISE PARTNER, LLC.

This company, JUELLE PROPERTIES LLC, then purchases the following properties:

  • Apr 11, 2008, Folio#: 503911074990, 617 PIGEON PLUM WAY , WESTON,  Value: $380,000
  • Apr 21, 2008, Folio#: 503902034070, 1554 CANARY ISLAND DRIVE , WESTON Value: $360,000
  • Apr 28, 2008, Folio#:504016070010, DAVIE,   Value: $3,650,000
  • Jul 11,  2008, Folio#: 504017020253, 1655 N COMMERCE PARKWAY , WESTON, Value: $7,850,000

Total Purchases: US$12,240,000 or J$881,280,000 @ 72:1.
You can search for these properties at http://www.bcpa.net/RecName.asp  by using JUELLE PROPERTIES LLC as the search phrase.

It does not end there.  On June 10, 2008, NOEL R. & JUDY R. STRACHAN purchased 12608 S STONEBROOK CIRCLE , DAVIE for US$1,800,000.  Again a key link is made.

On the public documents, the mailing address is given as 8 UPPER MARK WAY #14 KINGSTON JM, the Jamaican address for another company,  Jade Property Development & Const, apparently owned by a Noel Strachan (see Carib Cement Distributer list.)

Total Purchases: US$14,040,000 or J$1,010,880,000 i.e. over $1 billion Jamaican dollars.

History

It should be noted that on June 2, 2008.  World Wise suddenly shut their doors promised to re-open in two months time. When that time came, they announced a ticket system where members would have to submit request for payments that would be made on a first come first service basis.

No payments apparently have yet been made. The FSC also issued a Cease and Desist on August 5, 2008 preventing World Wise form taking any new money or members.  On August 31, 2008, the offices in Liguanea St. Andrew,  should have open but that did not occur.  On Wednesday September 3, 2008 they annouced that the portal would close and that payments of principals would begin on September 5, 2008 instead.

The question now is, has anyone been or will be paid? It is D-Day for World Wise as any more disappointments or fooling around will certainly leave their partners feeling foolish.  

Related

Worldwise Issue new payment plan

We have in our possession a new email said to have been sent by WW chairman Mr Noel Strachan earlier this afternoon.

This new email also makes allegation about a certain business man who has sued WW and who has allegedly collected back all his principal but appears to have filed a suit for interest.

Here is the email allegedly sent to some WW investors :

Dear Partner,

I send this deliberate and forthright message to update and level with you, our partners, about the current situation. Our huge investments in upgrading our accounting system, call centre, and state-of-the-art Online Portal for greater client partner convenience – were designed to achieve more timely responses to our large body of partners, the numbers of which had grown and outstripped the response capabilities of the manual systems we previously had in place. To our regret however, it seems every time we take one step forward, something happens – which has nothing to do with World Wise – but which impacts World Wise in a way that negates our best efforts. No sooner had we put the above service upgrades in place, than news broke about another well-known high-yield investment entity, which was raided and investigated in another territory – causing investors to get jittery – and causing a run on World Wise.

Our new Online Portal which was supposed to have resulted in the fast-tracking of normal partner requests, consequently became clogged and tremendously slowed by the abnormally numerous (though thankfully not total) requests for withdrawals. But the suddenness and scope of this run prompted us to re-focus our time and efforts more on managing the run, than on communicating with you. We had to hurriedly, without notice, evolve a special payout plan and put in place huge administrative resources to deal with this run – while handling it in the best interest of our partners.

In the face of the current run, which has resulted NOT from World Wise`s own actions (which have always been above board), but unfortunately from the questionable actions of other investment entities which have no connection to World Wise, we have taken a conscientious decision to execute payouts in two stages. Stage 1 – Principal, and Stage 2 – Profits. This way we make sure that:

(a) everybody gets his/her principal back first, while we temporarily retain funds to allow for continued trading – as a way of funding the immense administrative costs of paying out a run.

(b) profits will be paid next – these funds will incidentally continue to accumulate more profits while with us. Let us be honest with ourselves. Which financial institution – even the big banks of the nineties – were able to survive a run without an unusual action plan? Truth is … a run (justified or not – in our case unjustified) hurts an institution because it rapidly depletes the institution of it`s income-generating tool of trade (cash) – while massively increasing the institution`s administrative overheads costs. In the event of a run, enormous admin resources have to be brought to bear, simply to execute the large numbers of payouts that have to be executed within a highly compressed time frame.

Notwithstanding, we understand you must be anxious, and are making every effort to put together a practical payment schedule which will take us to no further than February 2009. With this in mind we will commence the first set of payouts on Friday, September 5, 2008 and will keep you apprised of subsequent payouts as soon as we have put a schedule in place, subject to the completion of the audit process which has been slowed because of the overwhelming number of requests in the Online Portal. As a result, we will be closing the Online Portal effective Friday, September 5, 2008. The Portal will reopen on October 6, 2008 for partners to continue making their requests.
Please bear with us while we work in your best interest.

Again, to be forthright, and instead of sweeping it under the carpet, we have to level with you, and bring it to your attention that a certain business man has just sued World Wise – technically for profits. We want all our partners to know that it is a fact that by an unintended process of default, this business man has already received more than his principal. While we do not know if he can win his case, it is important for client partners to be alerted, that such a move is obviously designed to gain one partner an unfair advantage over all other partners. Such a selfish law suit clearly jeopardizes our 2-stage payout plan.

As we are partners together, this being a time of frankness, we would also like you to know that the officers of World Wise are being subjected to various threats. This is truly disheartening, since of all the high-yield entities that came before, we at World Wise are the ones who are actually paying out money. While the authorities compile information on the identities of the perpetrators, we do question the perpetrators logic as clearly, if any harm should come to any officer of World Wise, it would for obvious reasons have a negative rather than positive effect on the payout process.

In light of all this, we appeal to you our partners, to please think of others, to not follow selfish examples, and please be patient while we execute our well thought out 2-stage payout plan. It is the fairest, most honest and conscientious way to safeguard all partners investments – and to demonstrate World Wise s integrity – while we continue to pursue FSC approval.It must be highlighted that In Stage 1 partners who are already at a 0% risk exposure, i.e. their principal amounts have already been collected by them, will not be paid until we are at Stage 2. Please note also that when a partner has taken his full principal back, his or her risk exposure is zero.

As you are aware, WWP has already survived the onslaught of two major runs – again caused by shock-waves from other investment entities UNCONNECTED to World Wise. In this respect, World Wise has weathered the storm even better than those big banks which succumbed to runs during the nineties. A testament to World Wise`s good business practices, sound management decisions, and last but not least – World Wise`s tested and proven INTEGRITY.

We are PARTNERS. We urge you to please work with us. Let`s work in each others best interest – and exercise patience for the good and success of all.

Sincerely,
Noel Strachan

September 3, 2008

Striking Similarities of UFOs X,Y,Z

Today we invite people to look at the similarites between three clubs. Let’s call them X, Y, Z. For each question, if the statement is correct for at least 2 UFOs, answer true or false. When you are done tally the answers. (You will need a peice of paper)

  1. Offered High Yield returns fixed and averaged close to or above 10% per month i.e. 120% annually (simple interest) or 210% annually (compounded)
  2. Operated without being registered with the FSC
  3. Remained Un-regulated and fought regulation. (n.b. X is allegedly registered in TCI but not in Jamaica)
  4. No Audited Financial Statements available.
  5. Little or no transparency
  6. Blamed one or all of the following, the Banks, FSC, Brokers, Due Diligence (oh now some parts of the Media e.g Cliff Hughes and Nationwide.)
  7. Poor accounting Records (X admitted it, Y receiver stated it and Z ex-Manager said it)
  8. Sponsored Big Events( possibly to buy social capital), Premier League(Y), Jazz and Blues Festival(X) and Ms. Universe(Z)
  9. Have failed to pay most of their clients for months (n.b. Y in receivership/liquidation)
  10. Big supporters/Defenders in the Media e.g. Law Professor David P. Rowe, who later sued them, and Mark Wignall, who up to the end of last week could not find any of his usual ‘sources’ to talk to.

If you have over 7 answers of ‘true’ you have a problem. You should be able to name the clubs. Do you know of any other similarities?

Related: