SI Paymens Are Delayed By Patriot Act

quote:
Posted: Sat Aug 19, 2006 5:11 am Post subject:

------------------------------------------------------------------------
Here is a story that makes me wonder if SI was able to move money from the partners to their account as fast at they thought they could -- I am betting that they possible ran into problems with that too --


XXX.
__________________________________________________ ___________

Posting for

Wednesday, June 12, 2002
by: Bert Rush
[email protected]

GOOD FUNDS/ESCROW AND CLOSING/USA PATRIOT ACT/BANKS AND BANKING

Dick Holloway (National Commercial Services/Atlanta, GA) reports the following:

His office is handling a transaction for which $100 million has been wire-transferred from Credit Suisse in Switzerland to Chase (bank) in New York. We called to confirm availability of the funds. A bank officer informs us that the funds are not available, and it will be "days if not weeks before the Chase compliance process is finished."

Puzzled, Dick called a friend at Chase to find out what's going on. Dick's friend reports that Chase and other financial institutions are now required to create and implement new anti-money laundering programs, under regulations issued by the Department of Treasury in connection with the USA Patriot Act of 2001. The USA Patriot Act, it may be recalled, was enacted by Congress after the 9/11 attacks to combat terrorism, and to help law enforcement detect and follow movement of funds by suspected terrorists and terrorist organizations. The latest regulations were issued only a few weeks ago.
As a result of the new regs, Chase has made changes in its Compliance Department. These changes may affect availability of funds.

Escrow/closing and title folk should be aware of these changes, and also aware that different financial institutions will be adopting different technologies and procedures to comply with the new laws and regulations. Techniques for detecting "terrorist financing" are also new, experimental, and evolving.

Meanwhile, our old assumptions and presumptions about availability of funds seem to be going the way of the Passenger Pigeon.
unquote:

I FULLY AGREE WITH HIS VIEW.

pinetree

Si Is Gone.

Quote:

---

Originally Posted by OICU812

Si Is Gone.

---

NO WAY.
Pls. read the below:

quote:
Hi All,

Here is a posting by XXXXXN that may be helpful to understand the
time frame for payouts by SOLID INVESTMENT.

"My accountant has some more thoughts on Solid Investment and
escrow.

Someone, on this forum, brought up the idea that, since Solid
Investment, and Sam Colins in particular, were suspected of
laundering money, the whole company is probably in a very defensive
mode. Since the United States Patriot Act requires that bank wires,
over a certain amount, have to be passed through an escrow agent, it
is possible that SI made the decision to pass all accounts through
escrow in order to have the receipt from a third party that the
proper amount of funds were transferred to the proper account. In
this way, SI would have an accurate, and complete, record of each
and every transaction should any legal problems arise in the future.

If Solid Investment is making all payouts through an escrow agent,
and it now appears that they might be, here is the way my accountant
believes it will work.

SI signs an agreement for the services of the escrow agent. This
agreement states the time frame for the payouts and the cost of
processing each SI investor account. This cost is usually a
percentage based on the amount of money to be processed for each
account.

The costs involved in this type of large money transfer operation
are going to be very expensive, probably in the two to five million
dollar range. This will not come out of the funds owed to us. SI
will probably absorb all of it and is probably the result Patriot
Act requirements and from criminal charges regarding money
laundering.

Escrow companies usually have a number of different plans, based on
the time frame required by the client. Some clients require a fast
transfer of funds, say, in the 15 day range. Others do not need the
funds transferred this quickly, so sometimes they select the 30 to
45 day range. Some escrow agents offer a 60 day time period. Others
do not. The shorter the time frame, the higher the cost.

If SI selects the 45 day program to cut costs, from the date the
agreement is signed, the escrow agent must transfer all accounts
covered under the agreement within this 45 day period. If it does
not, the agreement usually spells out a default penalty payment that
is charged to the agent. Most escrow companies wish to avoid this
expense, so they make every effort to stay within the agreed upon
time frame.

Since SI has already made bank wire payments to various VIPs, it can
be assumed that they agreed to some type of escrow arrangement
probably around the middle of July to cover these payouts. It is
possible that they may have different escrow agreements for
different types of payouts. If this is the case, then they may have
signed an agreement following the first agreement for bank wires for
the transfer of funds into such things as E-Bullion and E-Gold.

It is becoming clear to me that this escrow arrangement is a
distinct possibility and that all of us may have our funds by the
middle or the end of September. I plan to watch my accounts daily
for a pleasant surprise.

By the way, my accountant wants into this program in the worst way.
He is a good friend of mine, so I can say this without insulting him
or violating our relationship. He has the nose of a bloodhound and
he smells money. That's why I use his services. He has saved me a
bundle.

This is not fact, but shared information based on professional
advice that I have paid for. So, please don't shoot the messenger."

I hope we will all exercise the utmost patience and perseverence
while remaining faithful to SI over the coming weeks.

Regards,
unquote:

pinetree

Quote:

---

Originally Posted by pinetree

NO WAY.
Pls. read the below:

quote:
Hi All,

Here is a posting by XXXXXN that may be helpful to understand the
time frame for payouts by SOLID INVESTMENT.

"My accountant has some more thoughts on Solid Investment and
escrow.

Someone, on this forum, brought up the idea that, since Solid
Investment, and Sam Colins in particular, were suspected of
laundering money, the whole company is probably in a very defensive
mode. Since the United States Patriot Act requires that bank wires,
over a certain amount, have to be passed through an escrow agent, it
is possible that SI made the decision to pass all accounts through
escrow in order to have the receipt from a third party that the
proper amount of funds were transferred to the proper account. In
this way, SI would have an accurate, and complete, record of each
and every transaction should any legal problems arise in the future.

If Solid Investment is making all payouts through an escrow agent,
and it now appears that they might be, here is the way my accountant
believes it will work.

SI signs an agreement for the services of the escrow agent. This
agreement states the time frame for the payouts and the cost of
processing each SI investor account. This cost is usually a
percentage based on the amount of money to be processed for each
account.

The costs involved in this type of large money transfer operation
are going to be very expensive, probably in the two to five million
dollar range. This will not come out of the funds owed to us. SI
will probably absorb all of it and is probably the result Patriot
Act requirements and from criminal charges regarding money
laundering.

Escrow companies usually have a number of different plans, based on
the time frame required by the client. Some clients require a fast
transfer of funds, say, in the 15 day range. Others do not need the
funds transferred this quickly, so sometimes they select the 30 to
45 day range. Some escrow agents offer a 60 day time period. Others
do not. The shorter the time frame, the higher the cost.

If SI selects the 45 day program to cut costs, from the date the
agreement is signed, the escrow agent must transfer all accounts
covered under the agreement within this 45 day period. If it does
not, the agreement usually spells out a default penalty payment that
is charged to the agent. Most escrow companies wish to avoid this
expense, so they make every effort to stay within the agreed upon
time frame.

Since SI has already made bank wire payments to various VIPs, it can
be assumed that they agreed to some type of escrow arrangement
probably around the middle of July to cover these payouts. It is
possible that they may have different escrow agreements for
different types of payouts. If this is the case, then they may have
signed an agreement following the first agreement for bank wires for
the transfer of funds into such things as E-Bullion and E-Gold.

It is becoming clear to me that this escrow arrangement is a
distinct possibility and that all of us may have our funds by the
middle or the end of September. I plan to watch my accounts daily
for a pleasant surprise.

By the way, my accountant wants into this program in the worst way.
He is a good friend of mine, so I can say this without insulting him
or violating our relationship. He has the nose of a bloodhound and
he smells money. That's why I use his services. He has saved me a
bundle.

This is not fact, but shared information based on professional
advice that I have paid for. So, please don't shoot the messenger."

I hope we will all exercise the utmost patience and perseverence
while remaining faithful to SI over the coming weeks.

Regards,
unquote:

pinetree

---

There gone, let me know when you get paid.

pinetree if you are right why SI don't sent us any updae, why don't communicate with members?
You know there is no answer to this questions.

Quote:

---

Originally Posted by adron

pinetree if you are right why SI don't sent us any updae, why don't communicate with members?
You know there is no answer to this questions.

---

adron, you need to read up in some of the other threads. This has been answered. We are going privet:party:

Quote:

---

Originally Posted by Trapper t

adron, you need to read up in some of the other threads. This has been answered. We are going privet:party:

---

Trapper

Thats total BS THE'RE GONE

Quote:

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Originally Posted by OICU812

Trapper

Thats total BS THE'RE GONE

---

NO, SI IS NOT GONE ANYWHERE.

Read The Latest Post In Other Forum.

quote:
Hi everyone,

I have been away for a few days. I have Been busy. I had the
opportunity to speak with my friend's son on Sunday evening 8/20. I
talked to him about the restlessness of the investors on the NET and
the uncertainity about the pending SI payday.
He informed me that he did not talk to Sam or Sosa much since his
group got paid. He reiterate the fact that Sam is a good guy. He
said that he has done business with Sam for a while and he is not the
kind of person who would be involved in any SCAMs. I try not to be
too needy or pushy in obtaining information from him.

I know that the waiting is hard on everyone and I try to get as much
information to share with our SI hopefuls as well as for my own peace
of mind. He also mentioned that he heard "there was some technical
problems at SI but they were working on it." He confirmed some other
good things that were posted on the forums. His advice to me was to
continue to wait with a little patience. He does not think that we
are waiting in vain.
This was the longest talk we have ever had about SI. The
conversation ended in a very positive note. His group has renewed
their contracts with SI. This means that SI is not going anywhere.

Hang in there guys. SI will be paying us....very soon I hope.

Long Live SI! Keep the faith.
mxxxxxxxx
unquote:

pinetree

Quote:

---

Originally Posted by pinetree

NO, SI IS NOT GONE ANYWHERE.

Read The Latest Post In Other Forum.

quote:
Hi everyone,

I have been away for a few days. I have Been busy. I had the
opportunity to speak with my friend's son on Sunday evening 8/20. I
talked to him about the restlessness of the investors on the NET and
the uncertainity about the pending SI payday.
He informed me that he did not talk to Sam or Sosa much since his
group got paid. He reiterate the fact that Sam is a good guy. He
said that he has done business with Sam for a while and he is not the
kind of person who would be involved in any SCAMs. I try not to be
too needy or pushy in obtaining information from him.

I know that the waiting is hard on everyone and I try to get as much
information to share with our SI hopefuls as well as for my own peace
of mind. He also mentioned that he heard "there was some technical
problems at SI but they were working on it." He confirmed some other
good things that were posted on the forums. His advice to me was to
continue to wait with a little patience. He does not think that we
are waiting in vain.
This was the longest talk we have ever had about SI. The
conversation ended in a very positive note. His group has renewed
their contracts with SI. This means that SI is not going anywhere.

Hang in there guys. SI will be paying us....very soon I hope.

Long Live SI! Keep the faith.
mxxxxxxxx
unquote:

pinetree

---

The only proof they are here is people getting paid and communication and there is neither regardless of this nonsense you keep copying and pasting:fryingpan

Quote:

---

Originally Posted by OICU812

The only proof they are here is people getting paid and communication and there is neither regardless of this nonsense you keep copying and pasting:fryingpan

---

Why are you so antagonistic to SI? It looks like You Really Do Not Like To SEE SI Coming Back.

pinetree

pinetree,

I read from a VIP on the SI forum the site would be up and running in the next 10 days. Payments might not be made in that time and they will wait till the site and forum comes back before they payout everyone.

We'll see, admire your enthusiam.

Quote:

---

Originally Posted by pinetree

Why are you so antagonistic to SI? It looks like You Really Do Not Like To SEE SI Coming Back.

pinetree

---

I have money in SI so of course i want to see it come back, but i am 100% certain it wont come back.

Quote:

---

Originally Posted by OICU812

I have money in SI so of course i want to see it come back, but i am 100% certain it wont come back.

---

Then, what are your specific reasons why SI wont come back.

Quote:

---

Originally Posted by pinetree

Then, what are your specific reasons why SI wont come back.

---

I cant even remember the last time SI communicated with us, please dont tell me they cant. They have the database and this is the internet. Anybody can figure out a way to communicate so where are they?

Quote:

---

Originally Posted by OICU812

I cant even remember the last time SI communicated with us, please dont tell me they cant. They have the database and this is the internet. Anybody can figure out a way to communicate so where are they?

---

One of the moderators in other forum answered questions from a member. Pls. go over. You might get something positive from this Q and A session.

quote:
xxxxxxxxx7:

I will attempt to answer some of your questions. My comments will be italics and yours in regular type.

But if some Vip members were paid at the end of July (as they claimed the were) how is it possible ?

Some VIPs were paid by bank wire.

Did SI use an escrow agent to pay them ?

Yes.

If they didn't use an escrow agent to pay them, why do they have to use one to pay us?

All SI investors will be paid through an escrow agent, including us.

If they used an escrow agent to pay them, it seems that it took only 25 calendar days for them to get paid. If it is true, why is it so long for us?

Because is it possible that SI is using a number of different agreements with the escrow agent and the timing is different for each one.

Too many things don't seem to make sense. We need the truth and we need facts.

We are getting reports from some of the VIPs, and people who know VIPs, who have visited this forum. As far as facts go, there will never be any here at this forum because everything is presented by anonymous people. How can anyone believe facts that come from someone who is not willing to give his, or her, correct name?

Explaining negative facts with positive talkings doesn't make sense to me.

Negatives and positives are in the eyes of the beholder. Read the posts here on this forum and draw your own conclusions.
For example Sosahere...He said positive things, so what he said was right, he was the real Sosa...

Recently he officially told us BS about the new SI website. And now people are saying that it was not "the real Sosahere" talking. Sosahere's account must have been hacked.

This forum takes no responsibility for what was said, or not said, on the SosaHere forum. However, it was reported here that some of the messages on the SosaHere forum were genuine. It would appear that Mr. Sosa's statement about the Internet site coming on line again was, indeed, correct. It's just that the site's appearance was delayed because Mr. Colins did not want it to come back on line until all payouts were completed.

I fear positive thoughts here are not the truth.

It is possible that many others share your doubts. However, when one puts all of the information together, it would appear that the positives out weigh the negatives, in my opinion by about 80% to the positive side. Time will determine if I am correct on this.
Everybody likes to hear good news, but it seems that the news we got are more guesses than real information.

There is some valid information on this forum on which to draw conclusions. If you haven't already, read the other posts on this forum. Some of the information is coming from SI VIP investors who wish to remain anonymous. Some of us know them. However, in my opinion, protecting their identity does not diminish the impact of what they have to say. Time will tell the tale about all of this. Stay tuned.
unquote:

pinetree

Pinetree

Answer this, how much time would have to go by with no communication
for you to accept that SI is gone? just curious

Pinetree,

One of my main questions (which was posted by someone at Pingman's Corner) but never answered is this:

Why can't SI post a temporary page to it's investors relaying pertinent information. They don't have to "tell all" on the temp page, just an official statement that one of their lawyers approves...Is that asking too much?

Quote:

---

Originally Posted by whatever

Pinetree,

One of my main questions (which was posted by someone at Pingman's Corner) but never answered is this:

Why can't SI post a temporary page to it's investors relaying pertinent information. They don't have to "tell all" on the temp page, just an official statement that one of their lawyers approves...Is that asking too much?

---

The fact that they havent tells me a whole lot. Im sure pinetree will post a logical explanation.

Think about it for a minute.......why should he bother? ....... most here won't believe him !

Quote:

---

Originally Posted by chicosan

Think about it for a minute.......why should he bother? ....... most here won't believe him !

---

YOU ARE CORRECT. Those who want logical explanations Should go to Lawyers who have alleged SI has scammed and also filed a case with US authorities on behalf of members.

pinetree

OICU812...

I understand the current situation tells you a lot... and what happens with most programs may be reasonable reason to suspect SI from being the same. BUT...

Unless that's just your way of communicating, I don't understand your negativity towards pinetree after all input he provided on your questions. I only saw replies of yours changing to another subject or repeating your baseline again (SI is gone)... never a sign you actually even read his arguments , not so say you understood but rejected them on reasonable grounds. Think that's a pretty poor way of 'discussing'... and pinetree deserves more respect for his efforts trying to understand what's happening (and sharing it with those who want) than yet another empty 'it's gone'.

Therefore... a request: you made your point clear... we know what you try to tell us... so I wonder why you keep on repeating your mantra. You won't change our view, you know (like it won't happen the other way around), unless there's anything new to say (like whatever's question)...
Can't you give yourself, and pinetree (and us), a break?
I think it would save both time & energy for purposes you do believe in.

Just an idea,

Hasse

hear hear

hear hear to

I appreciate what you are providing to us greatly. I would kindly suggest that for those who believe that its over for SI to not post as it does them no good and may even shorten their life, if medical data on that type of behaviour is acknowledged.
I can accept that SI might be over but that doesn't compel me to assault someone who graciously shares information with us that provides indicators that SI may well rise from the proverbial ashes. So again I sincerely request that we stop 'shooting' the messenger.

nventr

I just receieved the below in my e-mail inbox.

quote:
<Dxxxxxxx4@...> wrote:
>
> First, let me apologize for the size of this post. It is a
> combination of posts with some ad libbing.... also let me give some
> thanks for whomever posts on xxxxxs board. I know, I know, I dont
> care enough to spend the time trying to figure out computer shit to
> get on pingmans board. Third... if I use highly technical real
> estate language... dont read it then.
>
> xxxxxs corner has been nothing less that what the forums should be,
> which is information and opinions based on the information. nothing
> more, nothing less. What you gain from it is what you gain. There are
> those of us, who, share information because:
>
> We know someone or something
> we care about others who dont know
> some forum members have grown on us
>
> We are getting to a point where it doesnt matter the information that
> is provided, it is a high that brings back the belief temporarily.
> There is no amount of information that can be provided to make some
> believe. It seems that a couple of days of no new information usually
> provides a breeding ground of uncertainty and doubt. its all good, so
> let it. lets review the information...
>
> when i receive information, I give it a 90% chance of credibility. The
> people I deal with:
> I have know for years
> I have met them, seen their elements and their business
> I have done business with in the past
>
> When someone posts information over and above what i have received, I
> compare it to the information I have been provided and if the story
> matches they are given credibility. When the story matches through a
> third credibly source and a fourth then I would give it 95-100% chance
> of being accurate. I am sure that their "sources" also have the same
> type of relationships as I have with my contacts.
>
> SI VIP mentioned something that I am VERY familiar with. Here is his
> words: "If ANY of you know what a "non discloser agreement" is then
> you will understand why I have to "dance" around a bit with my post."
> I wonder how many of you would jeopardize your future relationship
> with SI so that you can post information for others who might not know
> what you know. Well, I know of two and dealing with these types of
> agreements doesnt indicate a sign of someone running.
>
> this is the link to the s corner that set me off tonight:
>xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx x
>
> You will notice that mxxxxxxx7 had a big post in there that is based
> on the cardinal sin of investing which is EMOTION and quickly a pig
> pile followed by the usual suspects. He has raised questions and you
> will have to go there and read his "questions of proof" the he brings
> to the forefront. The people I deal with would never provide anything
> to anyone outside of our group. some of us are bound by a non
> disclosure agreement and the screen shot is a complete stupid stupid
> stupid requests. SURE, I will post my screen shot so that HACKERS can
> target my account. SURE, I will provide information so that there
> are those thumb sucking fetal postion whiners can doubt everything
> that is being provided.
>
> look at some FACTS:
> There are only a few regarding the ports, and the Cpanel and the rest
> will be SPECULATION, INFORMATION, INSTINCT, HYPOTHESIS, ETC. When it
> comes to trying for someone for a crime, outside of confession or
> video tape, it is the same scenario. Not one of us will know if sosa
> really posted on the board. Not one of us has seen sosa typing and
> submitting it to the board but the information matches. Not one of us
> has seen the bank wire to the VIP's. duh, get a clue, YOU NEVER
> WILL. YOU WILL NOT SEE SCREEN SHOTS NOR BANK STATEMENTS OR EVEN POSTS
> FROM THESE PEOPLE. so take what you can get which is information from
> people who know and deal with the VIPS. If you do not want to believe,
> then don't.
>
> It has been posted that some company or group was dealing with "an
> attorney out of PA" that has placed a freeze on their egold account.
> why give the attornies a roadmap or hackers a heads up. We have
> already been warned about phishing, fake egold emails, etc.
>
> We have seen the abuse posted about sosa and sam on the old forum, so
> why would they try. to be honest, most of the small investors dont
> matter. I am pretty sure that sosa did try to provide information
> because it MATCHES what i have been told. sosa signed off and thats
> where his posts went wacky.
>
> The attorney thing is a joke, nothing more than modern day harrassment
> by the normal ambulance chasers looking for a free nugget. The joke
> will be on those who fell for the bait. 33% and you signed a power of
> attorney? I chuckle when i think about how many even know what a power
> of attorney is and why would you sign one for someone you know nothing
> of. I dont see any of these jokers applying their vile virtupritous
> language against VIPinv, or the others who split after a week or a
> month. there is a part of me that suspects that they WORK or get
> referrals from that website. Do know this, there is a telemarketing
> firm out there trying to drive you and your soon to be riches to
> "their clients" websites.
>
> There are a few that I deal with direct and share or provide
> information. Honestly speaking, when it comes to giving information
> to the boards, I wonder why bother. Some have gone out of their way to
> help but my patience has run thin with the excessive pms, emails and
> abuse on the board that pretty much ask the same boring question....
> "when will I get paid". Maybe thats why they dont post or reply to
> emails.
>
> The bottom line is that you have basically two choices. wait or give
> up. I personally check the boards once or twice a day just to find the
> status of the website, because i still believe that you will not be
> paid until the site is up, you sign in and have your reinvestment
> option on the table. it sure seems that they would be paying out a
> lot less money and both them and you paying fees that you dont need to.
>
> We might never know what descisions were made by sam and rafael and
> the reasons behind it. I am very sure that it is in everyones best
> interest that it happened the way it did. When its all said and done,
> I am sure all will be forgiven and the fake ass praise will come
> back. May I mention again, those of you who are no longer part of it
> when it comes back....... syonara, bienevedos, later, hasta la pasta,
> au revior. We will all have a toast to your misery and abscence in
> Belize.
>unquote:

pinetree