If you haven't noticed yet, the deposit and withdrawal buttons have been disabled. But please do not panic just yet because the admin promises to process refunds for those who are still not in profit.
Despite the fact that the admin, Ivan has promised refunds, I think it is self-evident that refunds will only be processed for those who are still not in profit. For those who are already in the black, be grateful that you are more fortunate than some who have just joined. If you've recently invested (within the last day or so), your deposit will be returned right back into your account.
With regards to this closure, is there something to be learned?
I think the admin, Ivan has done all he could to promote and to sustain SynergyMoney. However, with a lack of advertising budget, which we can clearly see from SynergyMoney's low profile in the industry, a program simply cannot outlast the other programs with a budget the size of Bill Gates' wallet.
In many respects, however, Ivan has done many things right. For example, the payment processors accepted were only open to AlertPay, LibertyReserve and PerfectMoney. And the fact that he didn't splurge on advertising shows that this could be a double-edged sword: one, it could prolong a program's longevity, given that members are actually spreading the good word about the program, or two, it could end a program prematurely because it is not getting the exposure it rightly deserves.
Nevertheless, the program's over, and I have to say that Ivan is a very reliable person who stuck to his word right through till the end. Time will tell if he will rise again, but for now, let's hope that everyone who is still in red will get his/her principal back.
Here's the newsletter:
Dear all,
This is an important update so please take the time to read it carefully. Given the
recent circumstances in respect to the inflow of funds coming in to the Synergy
Money payment accounts we have to implement some immediate actions. Let me
first say that I will work out a solution that serves best the interest of the
members of Synergy Money.
**What lead to this situation**
The big ROI (considering the 25% return of the serial plan) and the slow growth
during our 3th month. We raised bigger deposits during our 3th month from our
old members who were increasing their accounts regularly but the new members
joining were more reluctant to deposit new money in the program. This is simply
a natural cause and it is better to take actions before the imminent end.
**What is next**
First step will be to disable all deposits and cashouts from the program. Also the
deposits that were made this week will be refunded in full.
Right now I have a list of all the members and how much they have made or did
not make from the program. I will zero out the accounts which gained profit. You
can see if you are in profit or not by the ROI calculation on the home page of your
back office (Wallet funding – Wallet cashouts).
The accounts which are still owed will be refunded to the point of breaking even
their investment amount. In the case of potential opportunity to generate profit on
the top of your principal amount, I will definitely take it under consideration and
pay deserved bonuses to those members. The amount will depend on the success
rate and how the process of those opportunities has performed.
**A matter of consideration**
The whole process might take some time. That is why I am going to refund
specific amounts on biweekly terms. The first refund round will start on 23th of
February. However, investors with losses under $10 will be refunded faster.
Each refund week I will be crediting your account with the appropriate interest on
the difference amount (Wallet funding – Wallet cahsout) and it will be announced
to you via email and published on our News section. I cannot give you an estimate
or a number of how much that would be.
Then, you will be able to request a withdrawal to your payment processor. The
minimum to withdraw will be $1. Your accounts will be reflected with the
difference amount of your invested money and your withdrawals.
I will be keeping you updated on regular bases. I am not going anywhere and the
site will stay online for as long as it takes.
Ivan
That's all for today's news.. I'll be back with some minor updates soon :)
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