Profitable Sunrise is about to Become Profitable Sunset

Profitable SunriseHey folks, I guess the time is almost up for Profitable Sunrise, or soon to be Profitable Sunset.

This next paragraph is taken from the NC Secretary of State publication which you can read in full at the posted link.

On February 27, 2013, the Securities Division of the North Carolina Department of the Secretary of State issued a Temporary Order to Cease and Desist to Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise.

They will have 30 days to request a hearing so that they can ‘register’ their company as recognized ‘dealers’ or ‘salesman’ of securities.

If they don’t request a hearing within 30 days than the judgment will become final.

Now I really don’t think that Profitable Sunrise will protest just because they claim that their model is not securities.

UPDATE 3/7/2013:

Looks like the state of Alabama has also issued Profitable Sunrise a warning as well. The move comes as an “Investor Alert” from the office of Joseph Borg, the director of the Alabama Securities Commission.

An investigation of Roman Novak, Radoslav Novak and their company, Inter Reef, Ltd., doing business as Profitable Sunrise, revealed that the men allegedly promoted at least five different “investment plans” through a website that offered rates of return ranging from 1.6% per business day to 2.7% per business day for periods of from between 180 to 240 business days. Investors were told that their money would be used to fund short-term, “risk-free” loans to businesses, and that “all funds deposited with us are insured against loss” by a leading investment bank. Further investigation revealed that victims had been instructed to wire money to financial institutions in Eastern Europe, including one bank identified as being in the Czech Republic. ASC records revealed that neither of the men, nor the company they represent, are registered to conduct securities business in Alabama, as required by the Alabama Securities Act. (Source)

UPDATE 3/15/2013

Looks like more states AND countries are now issuing warnings against people joining Profitable Sunrise and also calling it a ponzi scam.

At this point, warnings have been issued from the US States of North Carolina, Alabama, from Alberta Canada, New Zealand, and the United  Kingdom (where Profitable Sunrise is based) just to name a few.

*****

My Rant

Profitable SunsetWith all the HYIP that have been out there I have always recommended to people to not get involved just because the risk is way too high.

As soon as any of them get any kind of viral attention, it seems to never fail that the company gets shut down.

I know that is an extremely easy way to make money, but they are the most illegal programs on the Internet right now.

I am not saying I am an angel and have never got involved, I actually was involved in a few and lost close to $15k out of pocket…

WHY?

Its because the programs start getting big viral attention, which in turn gets the attention of the officials then get shut down.

My Final Thoughts

If you have any money invested in Profitable Sunrise, now is the time to take as much as you can out.

This is the beginning of the end for this Sunrise, and Sunset is approaching!

Do yourself a favor folks, and don’t waste your time on the HYIP’s anymore, please, I don’t want you to lose money, I want for you to make money.

– Wallace

4.5 / 5 stars