Thread: Sad News Offshore closing down

Dear Offshore Club Members,
I writing this sad news to share you some facts that affected our business and put Offshore Club in a situation where we can't move any step to any direction.
To sum up the story, we will tell you exactly what happened with Offshore Club
from the beginning of 2006.
First of all, let's remind you with what happened with our e-gold account before 2006 which was our first financial disaster. E-gold start blocking all our accounts without any reason or previous
notification. We have supplied required Due Diligence documents 3(1) times to them, but they refused it accordingly to item 4.6 of their Terms of Use:
Quoting:
4.6. Right of Association
Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion, with or without cause.
In the middle of 2006, the impact was harder which was made by another payment
processor which was Uniclear Express. As you already know Uniclear stopped withdrawals from their system and significant amount of Club assets was frozen there. I strongly believe that Uniclear would be in business later, but we can’t get our funds back still.
The same big drama kept going on.. and this time it was our wire transfer processing system. During short DDOS attack on our hosting provider some of our customers ordered charge back of wires sent to the Club. Banks of this customers began investigation and had put our bank account in “black list”. This situation draw unwanted attention of authorities and we faced with many other problems both online and offline.
In the last period of about two weeks ago, we were working very hard and
thinking on how to solve our financial problems. Unfortunately, after long investigation we decided stop risking with our member’s funds. We do not want to happen that situation when all our payment accounts would be frozen by authorities. As I already mentioned our investigation shows that situation is critical.
In light of this facts we decided to close Offshore Club as online investment opportunity. As we stated we guarantee our investors principals and we would start refunding process in next few days. You will find more information about refunding process on our forum. Please do not trust any other information sources and trust only official information from the Club. I suggest our members do not panic and calm down: We will refund your principals.

Sincerely yours,
Offshore Club Administrator.

yes its going to be closed. Its a sad news. And they are refunding all the principal in next 24hrs.

Nobody is going to get a refund in 24 hrs.

Just kind of curious on what number they will use as the 'principal' to refund..Case in point is mine..Invested $150.00 initially on 27 Jul, set to compound, reinvested $210.00 on 26 Aug, which in turn reinvested $294.00 on 25 Sep, and currently shows as 'in contract' when I log in to my account..QUestion is: Do I get $294.00 which is what was most recently invested in the current contract, or $150.00 which was my initial deposit? Sure hope its the former and not the latter, but suspect it will probly be the latter..Oh well..Tis a sad day that they are closing :(

Originally Posted by Underroo

Just kind of curious on what number they will use as the 'principal' to refund..Case in point is mine..Invested $150.00 initially on 27 Jul, set to compound, reinvested $210.00 on 26 Aug, which in turn reinvested $294.00 on 25 Sep, and currently shows as 'in contract' when I log in to my account..QUestion is: Do I get $294.00 which is what was most recently invested in the current contract, or $150.00 which was my initial deposit? Sure hope its the former and not the latter, but suspect it will probly be the latter..Oh well..Tis a sad day that they are closing :(

I believe they are talking about refunding only original spends, so the question is what happens to accumulated interest if it was real.

To use e-gold exclusively as a payment processor invites threats of closure as evidenced by this development. This is sad.

Originally Posted by philrater

To use e-gold exclusively as a payment processor invites threats of closure as evidenced by this development. This is sad.

They used alot of different payment methods.

Guys ... let's be patient! Oscar is trying to keep OC alive. Soon there will be news about that. If you haven't already done so, please login and vote at OC forum if you wish the program to continue or receive a refund. Oscar, is trying to get the majority of members with him on this. So far votes are on the continue side.

Sam

Originally Posted by OffshoreClubModerator

Guys ... let's be patient! Oscar is trying to keep OC alive. Soon there will be news about that. If you haven't already done so, please login and vote at OC forum if you wish the program to continue or receive a refund. Oscar, is trying to get the majority of members with him on this. So far votes are on the continue side.

Sam

If OSC is legit i saw no reason for shutting down because of Egold.

Originally Posted by OffshoreClubModerator

Guys ... let's be patient! Oscar is trying to keep OC alive. Soon there will be news about that. If you haven't already done so, please login and vote at OC forum if you wish the program to continue or receive a refund. Oscar, is trying to get the majority of members with him on this. So far votes are on the continue side.

Sam

But I can't login.