Complaints And Reviews About Cashbery
The investment project «Cashbery» (website: https://cashbery.com) was advertised and actively promoted on social networks and now is recognized as a financial pyramid by the Central Bank. According to the head of the Department of the Central Bank, it has become one of the largest financial pyramids in recent years.
Payouts to investors stopped in the spring of 2018, management of the business project from London offers ordinary investors to be patient and wait out a period of adversity.
What «Cashbery» attracted ordinary people with
The technology of construction of the financial pyramid was worked out a long time ago. So, Arthur Vardanyan, a British citizen of Armenian origin, did not have to invent something fundamentally new. The offer to invest money was wrapped in the most attractive investment wrappers:
- microloans for individuals;
- lending to small and medium-sized businesses;
- loans related to collateralized real estate;
- in crypto-currencies and a safe exchange trade by robots.
The referral programs proved to be extremely beneficial for the founders/first depositors, because every next client, who transferred money, contributed to their enrichment. It seems that the vast majority of contributions were minor, but many investors of «Cashbery» risked quite significant amounts. Their belief in a higher yield of microcredit has not been confirmed:
- in reality, this business is considered extremely risky, as up to 30% of borrowers do not return the borrowed money;
- «Cashbery» did not provide any loans to individuals or small businesses, because originally its leaders did not intend to do it.
The larger and more beautiful is an inflated bubble, the higher is a probability that it will burst soon. So, it happened with this financial pyramid, and only a few persons could get out safely from its wreckage.
How to get back funds invested in «Cashbery»
Certainly, it is better never and under no circumstances to have any contacts with such structures, because the deployed network marketing feeds only its creators, but not the ordinary participants. What can you rely on to refund the transfers? If money were sent to «Cashbery» by bank plastic cards, you can rely on help from the payment systems.
Both the international payment systems Mastercard and Visa and the payment system «Mir» have developed special rules regarding the fact that in certain situations it is possible to dispute the transaction and return the sent payment. In particular, payment system «MIR» uses the code 4555, which allows disputing a transaction on the basis that the declared services/goods were not provided.
As for the international payment systems Mastercard and Visa, their basic rules have been changed recently. Among other things, changes have affected the possibility of chargeback related to investment and gambling. The deposit in «Cashbery» is one of such cases.
What needs to be done
Expecting someone to come and solve your problem, you will never return your money. If you decide to try your luck at the procedure of chargeback (dispute the transaction and refund), you should act during 540 days from the date of money transfer. At first, you have to gather the documentary evidences that there were made attempts to return money in other ways:
- phone calls were made (audio recording is required);
- to confirm an email correspondence (to make screenshots).
According to the rules of the payment systems, a chargeback procedure is considered as a last resort which is used when all the others have already been tried and have not given any results.
If you have the evidence, you can send a request to the issuer, the bank that issued your plastic card, the details of which were used to make the payment. The bank participates in activity of the payment system, therefore is obliged to handle such appeals and if they have been recognized reasonable, to give them go. The issuer is obliged to require justification from the owner of the bank card, confirming undoubtedly that the transaction can be disputed. The received justification is electronically transmitted to an acquirer, the bank that served the payment. Actually, what happens in the future is completely without any participation of the owner of the bank plastic. He can only wait until a decision is made within the payment system.
How high are the chances to get back the money invested in «Cashbery»
If you see an advertisement that a firm offers chargeback services and guarantees one hundred percent chargeback, there is a very high probability that is was placed by the person, who are spiritually related to the founders of the pyramid «Cashbery».
Usually you have to pay a pre-agreed share of the transaction amount for such service. At first, experts will spend a day or two to study the provided documents and general situation, and then they have to discuss with the client his real chances to dispute the transaction, and what obstacles he may face. In the case of «Cashbery» there can be the following obstacles:
- position of the issuing bank that may be passive or unwilling to engage in the proceedings. In this case, persistent client will have to sue the issuer. Moreover, the chances of success may increase, because a judicial decision is made on the statutory provision of domestic legislation that protects the rights of consumers;
- absence of any funds in the accounts of the financial pyramid, whose creators could foresee that one day its growth will be completed.
It should be pointed out that since the beginning of the payment system «MIR» were satisfied almost half of the requests to dispute the transactions.
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