This program stopped PAYING! Do not invest there!
Today we’re fortunate to have a second interview with Robert, the Admin of SimbWealth (reviewed here). Readers may recall that our first interview with him took place a little over a month ago, on May 14, and you can read it in our Blog here. SimbWealth is unique among HYIPs listed on our Monitor now in that it only offers very long term investment plans. I suspect that there are few HYIPs listed anywhere that offer investment plans of this length. This is not a pro or a con. Some investors prefer shorter term plans while others prefer longer term plans; it’s a matter of taste.
You may remember that, when we initially reviewed SimbWealth, there was some confusion as to whether their two daily plans pay interest only on weekdays of if they pay interest seven days per week — on calendar days. We clarified this before but, in case you missed it, calendar days is correct. The mix-up arose because of a confusing statement in the SimbWealth FAQ. I’m happy to say that this has been corrected, along with a number of other inconsistencies in their website. It is clear that SimbWealth has been putting some effort into making the presentation of their program a lot clearer than it was initially.
For those of you that have forgotten, SimbWealth offers four investment plans. Two offer interest on a daily basis, one paying 1.33% for 90 days and the other paying 0.89% for 180 days. The second two offer interest on a monthly basis (which is somewhat unusual), one paying 18.75% and the other paying 29.17%. Both these plans run for a full calendar year.
SimbWealth has had a stormy history in the time it has been online. On two occasions they had technical problems that resulted in late payments for a day or two. However, happily, in both cases, they recovered and, as I write this, they are back to making instant payments as promised. It is always impossible to predict how long an HYIP will survive. However, I regard these two recoveries as a sign that SimbWealth intends to be around for quite a while longer. The company could have easily closed its doors and have used “technical problems” as the reason for doing so.
So, without further delay, here is the second interview with Robert, the Admin of SimbWealth…
1.) For the benefit of our readers, would you please reintroduce yourself and tell them your position in SimbWealth? It would also be interesting to know how you spend your time on-the-job. What does a “typical” day look like for you?
I am the head of operation department and I run the company. Basically, I generally decide where the money goes on to and how the investments commerce to realize. Mostly, I spent my time searching the markets and co-operating between our front-end and back-end operations. Deciding what it is good or bad for the future of the company and coordinating the work forces.
2.) Perhaps to start on a bad note, the statistics on your home page imply that the company might not be making as much progress as you like. How do you feel about this? Is the company growing the way you would like? Too fast? To slow? About right?
Sounds like you are right! The progress of our company looks like growing slowly. We do not receive much investments at this period. We are not happy about that. But, we still believe that we are on the right path.
3.) Assuming that my observation is correct, do you have any plans in mind to correct the situation? If I’m wrong, please disregard this question.
This question is one of our most important questions that we will discuss in next company meeting. Necessary actions will be taken and new plans may be implemented.
4.) The interest rates in your program are very low for an HYIP. I suspect that your background in banking had something to do with the choice of these rates. While low interest rates imply long term survivability of a program, how do you feel your investors like this approach? Have you had any investor feedback on this?
Some of our investors give feedback regarding to this matter. Some wants more aggressive payouts, some wants more stable cash outs. Regarding to this feedback, we will update our end and maybe create some new plans.
5.) A few days ago, you experienced delays in making payments to investors. This was the second time this happened. However, you recovered! This is actually very surprising as, when the typical HYIP experiences such delays, it is a sure sign that closing is near. So, we compliment you in your efforts to stay afloat. However, do you feel that you have solved the issues that caused the delays such that you won’t expect this problem again?
Yes, this happened two times from the beginning and I, myself, truly sorry regarding to issue and apologize As I told you and everybody before, there is nothing to afraid of. SIMB will be here for a long time. We are not the typical HYIP companies. There was a technical issue on our end and it makes us to delay the earnings. I am sure that this time, we fixed the error and will not be happen again. However, I cannot say that there will be no technical issue for the future. Everybody must understand that, technical is technical. Nothing related with earnings, payouts, cashouts, deposits. It shows that system has technical problems not the funds. Your investments are always safe with us!
6.) On a more general note, we would like you to share your long term plans for SimbWealth with our readers. For the conservative investor, which is who I believe you are trying to attract, this is definitely the number one thing on their minds.
Most of the important thing is technical issues on the system. We are fixing the errors on system and updating related parts. Advcash payment option is in progress. We have now official ADVCash account for our investor. When the tests are completed, we will announce to our investors. Finally, I can say that last update on more security issues, next update will be more on fancy stuff.
7.) Finally, there might be other things that you would like to share with readers of Emily News. So, I would like to give you “the floor” now. Please feel free to use this space to your advantage to provide any additional information that you feel might be of interest.
Nowadays, we are facing technical problems, this is happening due to lack of timing and man power. We are hiring now! We need more stuff member to do business with. Our IT guy had a car crash. I am not the technical man, most of the technical issues happened for this reason. But anyway, the problems has already been cleared and fixed and all awaited cashout request paid already.
The second thing I must clear the grey clouds on the monitor related problems. They misleads the investors with false records. We are contacting them one by one to solve the problems on our ends. However, we could not get any response from them. Some of them show paying problems and some say pending payments. There is no such a thing that kind of problems. All accounts have been checked double and earnings are already paid to the investors and monitors. The problem is coming from they do not know how to deposit, invest and cash out. Please be aware of that!
Our thanks to Robert for taking the time to respond to these interview questions.
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