Cherry Shares
| File:Cherry Shares.gif | |
| Type of business | High-yield investment program |
|---|---|
| Headquarters | Hong Kong |
| Key people | Inta Bilder Dane W. Wolf |
| Parent | Interhold Limited |
| Website | cherryshares |
| Advertising | No |
| Registration | Required to invest |
| Current status | Offline |
Cherry Shares was a high-yield investment program which claimed to generate a profit for its investors by engaging in arbitrage trading.[1] The site offered several investment programs with varying timelines and rates of return. It was run by Brooksell Universal Limited, which was created on August 25, 2008.[2]
Programs
Cherry Shares offered four different types of investment programs: a short-term, daily, medium-term, and long-term plan, all with high interest rates.
CherryShares had stopped making payouts for members, according to many forums, blogs and social networking websites.[3][4] After a series of payout problems with Liberty Reserve, AlertPay and bank wires, the CherryShares website became inaccessible to all as of 3 December 2010.[citation needed]
In subsequent weeks, attempts to log on to Cherry Shares were still producing the error message, "504 Gateway Time-out", while a new site appeared, one with many similar features that CS used to have.[5] While CS had apparently marked its own lifetime with its description of the 75-week "investment horizon" of the long-term plan and its mandatory compounding, the new site pronounced a 25-week "investment horizon" and mandatory compounding for all 3 of its plans.
Management
The site said that Dane W. Wolf was the Managing Director of Cherry Shares. Denis Chan and Dominik Budlovsky were also listed as members of the Supporting Team.[6] The CherryShares website went offline on Friday, December 3, 2010, and did not return.
It was also stated that Cherry Shares was run by a New Zealand company known as "Brooksell Universal Limited".[7] However, while the New Zealand Companies Office has Brooksell in its registry, the only Director listed is Inta Bilder, who was not mentioned anywhere on the Cherry Shares site.[2] Brooksell is fully owned by another New Zealand company, Interhold Limited, although that company was not mentioned on the Cherry Shares site, either.[8]
Cherry Shares had a headquarters address listed in Hong Kong.[6] This address is a maildrop and hasn't been renewed since May 3, 2010.[9]
Cherry Shares claimed that its transactions were "private" and exempt from American securities laws.[10] It has commonly been called a "private investment pool",[11] though it has also been described as being public.[12]
Legality
The Hong Kong Securities and Futures Commission issued an investor alert warning people about Cherry Shares.[13]
References
- ↑ "Who We Are". Cherry Shares.
- ↑ 2.0 2.1 "View All Details". Business.govt.nz. Retrieved 2012-09-23.
- ↑ "Cherryshares - Www.cherryshares.com". Dreamteammoney.com. Retrieved 2012-09-23.
- ↑ Cherry Shares on Facebook
- ↑ "The Leading Gold Cherry Share Site on the Net". goldcherryshares.com. Archived from the original on 2012-11-14. Retrieved 2012-09-23. Unknown parameter
|url-status=ignored (help) - ↑ 6.0 6.1 Contact Cherry Shares Archived August 26, 2009, at the Wayback Machine
- ↑ [1] Archived October 11, 2010, at the Wayback Machine
- ↑ "Shareholdings". Business.govt.nz. 2011-10-27. Retrieved 2012-09-23.
- ↑ [2] Archived November 23, 2010, at the Wayback Machine
- ↑ Cherry Shares Terms
- ↑ [3] Archived April 21, 2010, at the Wayback Machine
- ↑ [4] Archived July 10, 2011, at the Wayback Machine
- ↑ "Alert List - Cherryshares". Invested.hk. 2009-11-19. Archived from the original on 2010-11-23. Retrieved 2012-09-23. Unknown parameter
|url-status=ignored (help)
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