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[edit]
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 was 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[edit]
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[edit]
The Hong Kong Securities and Futures Commission issued an investor alert warning people about Cherry Shares.[13]
References[edit]
- ↑ "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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