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Garwick Invest is still advertisiing around the web. They quit paying on June 1st.
The started getting a following a few weeks ago when people found out that they were "direct depositing" 35% daily on spends. You didn't have to ask, they just sent it. You only needed to visit the site to re-invest.
This was so convienient that I had 4 different investments going....not more than I can afford to lose, I assure you. Then they quit paying. Now because I and others used thier "rate us" button to let everyone know, they no longer have a "rate us" button
They kept no data base and had no "contact us" button. They only asked for our email, no password or username.
Seems they were only around for a couple of weeks to grab what they could. The next time there is a payout like that, I will wait until I have 4/4 and then re-invest 1/2 of the profit. That way I will at least see my principal returned and also make 17.5% profit.Then, even if the hyip folds in a couple of weeks, I will still have made a profit on 3 back to back investments. Each maturing in 4 days
If you are reading this Garwick Admin, I am letting you know that I am letting all the readers here know that your e-gold # is 4396610 And that I and others have been giving you "very bad" marks at many of the forums...your days with Garwick Invest on the Net are numbered.
If you don't believe me take a look at your votes around web-town.......
Thus if anybody lost with the scammers at Garwick, you now have recourse if you choose to have their e-gold # revoked, effectively shutting these scammers down.
sincerely Sage1
Congressional Subcommittee Hearing Deleting Commercial Child Pornography Sites From the Internet: The U.S. Financial Industry's Efforts to Combat This Problem September 21, 2006
See the video:
In many ways, the in-game economy is similar to a real world economy - goods and services are traded to mutual advantage and are mediated in currencies(gold,platinum,credit,etc.).
An online broker, who goes by the screen name Rolala, was not a fan of online games until his 15-year-old son became interested in Final Fantasy XI(FFXI). He then noticed that a large number of gils(currencies used in FFXI) were for sale on eBay.
"I started hearing about players leaving the game who were selling their assets at cheap prices," he said, "so I figured, buy low, sell high."
But Rolala found his moneymaking options in FFXI "very limited". He switched to World of Warcraft,the world's largest MMORPG. There, he has leveraged his real-life experience into an online business. He converts his game profits into real money on sites like ebay, cheap wow gold ,world of warcraft gold,etc. Earnings can be considerable. He said he was on track to earn about $120,000 in real money in his first year in this business.
Rolala's business is just one example of how increasingly popular online role-playing games have created a shadow economy in which the lines between the real world and the virtual world are getting blurred.
Edward Castronova, an economics professor at Indiana University who has written a book on the subject, calculated that if you took the real dollars spent within "EverQuest "as an index, its game world, called Norrath, would be the 77th richest nation on the planet, while annual player earnings surpass those of citizens of Bulgaria, India or China.
Go to GameUSD, an exchange-rate calculator for the virtual worlds, and do a search for the latest rates of virtual currencies against the U.S. dollar, and let your jaw drop open. The rates of some virtual world currencies are even better than that of the Iraqi Dinar! For instance, here is the exchange rate of several popular virtual currencies: Final Fantacy XI Gil ($23.89/1M), Lineage 2 adena ($2.80/1M), Everquest Platinum ($0.24/1K), Everquest 2 Gold ($0.017/gold), WOW Gold ( World of Warcraft Gold ) ($0.178/gold), Star Wars Galaxies Credit ($0.50/1M), Guild Wars Gold ($0.07/1K), Second Life Linden ($3.14/1K), etc.
Right now, this business is one of the most hotly debated issues on the internet. Many game companies such as Blizzard who run World of Warcraft discourage profit from in-game properties, though none have found a way to stop it.
Sony Online Entertainment, on the other hand, encourages the practice (albeit within the confines of their own "Station Exchange", their own forum for the sale of in-game properties). It recently announced the first month's figures from "Station Exchange". According to SOE, over 45,000 characters from "EverQuest 2" have been active on the exchange and have spent over $180,000 USD in one month, half of which have been spent on in-game gold and platinum.
In terms of the law's concern, another issue is, who owns the virtual money? Many virtual world designers maintain that anything created in the world belong to the company. They refuse to recognise the rights of their players in the virtual property for fear of attracting liability for its maintenance or security.
But will this work in the long term? Players spend considerable time and/or money acquiring such assets. In many cases they are the creation of the player and even the intellectual property ownership is questionable. "As we spend more time in these worlds, it's not enough for companies to say that 'we own everything and we can turn it off at any time,'" said a gamer. "The question may soon be should we have recourse against a game company for obliterating virtual assets?"
With the rapid growth of virtual currency exchange market, should people accord virtual property the same protection as property in the real world?
A quote from:
http://www.oag.state.tx.us/oagnews/release.php?id=1493
Monday, March 13, 2006
Attorney General Abbott Files Emergency Action To Protect Clients Of Unlicensed Online Payment Service
EMO Corp. and officers cannot account for $2.4 million in customer cash
AUSTIN - Texas Attorney General Greg Abbott has obtained an asset freeze and emergency approval for a court-appointed receiver to take over the operations of unlicensed Austin-based online payment service EMO Corp.
The company and its officers, Todd L. Tredeau, Tracey Jones and Nancy C. Humphries cannot fully account for more than $5.4 million that consumers placed into their accounts. The company’s books show they have only $3 million cash on hand, which means EMO cannot account for $2.4 million belonging to its customers. The officers failed to register with the Texas Banking Department and obtain a license as a “money services business,” as required by law.
Attorney General's lawsuit against EMO
Temporary restraining order against EMO
“These officers must account for their outrageous mismanagement of consumers’ money, which they promised would be secure,” said Attorney General Abbott. “The court’s appointment of a receiver to seize control of this company’s assets will provide an opportunity to determine where this money has gone.”
The company’s Web site, www.emocorp.com, touts the service as a safe way to conduct financial transactions online, as a service to assist consumers who are recent victims of fraud and businesses that handle payrolls.
Consumers who open accounts with online payment services can deposit money into their accounts via credit cards or bank transfers and expect instant access to their accounts. The consumer uses the service to send or receive money to and from other members via electronic transfers. According to information given to the Department of Banking by EMO Corp., the company has a current customer base of 17,000 nationwide, with 6,000 of these in Texas.
The Banking Department denied EMO a license for failure to meet minimum net worth requirements of $500,000 and other statutory requirements. Furthermore, according to the company’s own financial statements presented to the Department of Banking, the company is insolvent.
Upon investigation following the asset freeze, the Attorney General will seek restitution to any consumer harmed by these transactions, as well as civil penalties and attorneys’ fees.
On top of the above EMOcorp website claims to be under DDOS attack:
| Server Unavailable! Scheduled Maintenance In-Process... |
|
The EMO website is temporarily off-line due to a DDOS attack. We are currently working on solving this issue. Thank you for your patience. |
We are going to experience 30-60 minutes of down time due upgrades and preparations to the upcoming server move.
The downtime will start at 6 PM GMT today (in about an hour).
Update: seems that it took almost the whole hour, but we are back again 
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