Author Topic: Scam Alert Sungames  (Read 276506 times)

Offline Ygold

  • Dansdeals Gold Elite
  • ***
  • Join Date: Nov 2013
  • Posts: 200
  • Total likes: 18
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Scam Alert Sungames
« Reply #810 on: October 06, 2014, 02:20:26 PM »
How does a grade school rebbe even have $100K to invest?

is the person you referring to someone that is involved with an organization that helps the poor? ...how ironic that would be, someone that helps the poor is leading the scam to make people poor!

Reminds me of this...

Shout out to Meshugener!

Offline DannyNJ

  • DansDeals Copper Elite
  • *
  • Join Date: Jul 2014
  • Posts: 2
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Scam Alert Sungames
« Reply #811 on: October 06, 2014, 02:36:01 PM »
Ygold:

Listen, you obviously have no skin in the game, no family member who has lost so much. It's because of people like you that scams such as this continue.
Can you at least admit that from reading all these pages that this is a genuine scam that is currently going on? Should we not prevent others from falling in? Especially since they have the unmitigated audacity to still ask people for more money!!!!!

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 53432
  • Total likes: 2360
  • DansDeals.com Hat Tips 16441
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: Scam Alert Sungames
« Reply #812 on: October 06, 2014, 02:54:10 PM »
Reminds me of this...


Heh.
Same video a certain SG ringleader sent me as proof that this thread needs moderating.

I have mercy on many people, but not on people who facilitate such evil.  I'll delete this thread when the ringleaders come clean and beg for forgiveness in public.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline avremie

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Apr 2012
  • Posts: 864
  • Total likes: 2
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: milky way
Re: Scam Alert Sungames
« Reply #813 on: October 06, 2014, 04:04:54 PM »
Heh.
Same video a certain SG ringleader sent me as proof that this thread needs moderating.

I have mercy on many people, but not on people who facilitate such evil.  I'll delete this thread when the ringleaders come clean and beg for forgiveness in public.
Why don't you expose the ringleader?

Offline ChaimMoskowitz

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2014
  • Posts: 6669
  • Total likes: 1058
  • DansDeals.com Hat Tips 1
  • Gender: Female
    • View Profile
Re: Scam Alert Sungames
« Reply #814 on: October 06, 2014, 05:12:53 PM »
Then we can start a thread to raise money for the families. Though at least others won't be suckered and ruin their lives as well.
I know you have a lot on your plate but if you took the lead I am sure it would be a success. I know at least one past member that would give.
I just found a new supply of forks!

Offline Chaikel

  • Global Moderator
  • Dansdeals Lifetime Presidential Platinum Elite
  • **********
  • Join Date: Jun 2008
  • Posts: 6768
  • Total likes: 48
  • DansDeals.com Hat Tips 20
  • Gender: Male
    • View Profile
  • Programs: LH SEN, SPG Plat, Hyatt Plat, Rav Kav Platinum
Re: Scam Alert Sungames
« Reply #815 on: October 06, 2014, 06:14:36 PM »
Emunas chachomim includes what stock to invest in? Source?
It's a posuk

Reminds me of this...


I think the videos of ISIS beheadings would be a closer description of what's going on
Create professional looking itineraries.
Free trial! Check out eliteitinerary.com
Code:DD

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 11423
  • Total likes: 76
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Scam Alert Sungames
« Reply #816 on: October 06, 2014, 07:19:01 PM »
Life isn't about checking the boxes. Nobody cares.

Offline moko

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jul 2011
  • Posts: 2418
  • Total likes: 72
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Scam Alert Sungames
« Reply #817 on: October 13, 2014, 08:57:20 PM »
How does a grade school rebbe even have $100K to invest?
by living frugally.  Maybe he follows the advice of the hated Dave Ramsey,  though if he did he would have never gotten suckered into such a scam

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 11423
  • Total likes: 76
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Scam Alert Sungames
« Reply #818 on: October 13, 2014, 09:22:34 PM »
by living frugally.  Maybe he follows the advice of the hated Dave Ramsey,  though if he did he would have never gotten suckered into such a scam
Maybe you missed the actual answer to this question?
« Last Edit: October 13, 2014, 09:53:55 PM by Ergel »
Life isn't about checking the boxes. Nobody cares.

Offline aradisc

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Jan 2014
  • Posts: 262
  • Total likes: 3
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Scam Alert Sungames
« Reply #819 on: October 19, 2014, 08:52:33 PM »
Any financial types want to help me parse this?  http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10210566-14227-18903&type=sect&TabIndex=2&dcn=0001117768-14-000740&nav=1&src=Yahoo
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10210566-19801-23438&type=sect&TabIndex=2&dcn=0001117768-14-000740&nav=1&src=Yahoo
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10210566-30099-61853&type=sect&TabIndex=2&dcn=0001117768-14-000740&nav=1&src=Yahoo

Looks like assets of $2.5 mil and liabilities of $8.9 mil. And there is no product. "It's almost at the end," indeed.

Trouble? You don't say:
Quote
3.           Going Concern Uncertainty and Managements’ Plans
In the Company’s audited financial statements for the fiscal year ended December 31, 2013, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about the Company’s ability to continue as a going concern.  The Company’s financial statements for the six months ended June 30, 2014 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.  The Company reported a net loss of $3,595,848 and $531,139 for the six months ended June 30, 2014 and 2013, respectively, and an accumulated deficit of $6,717,534 as of June 30, 2014. As of December 31, 2013 the accumulated deficit was $3,121,686. At June 30, 2014, the Company’s total current liabilities exceed total current assets by $6,777,261.  At December 31, 2013 this amount was $2,966,851.

And Chandran and Robert are paid as contractors, presumably to protect their take when it all falls down.

Quote
4.            Related Party Transactions
Two former principals of Freevi Corporation and shareholders of the Company have consulting agreements with the Company. Guy Robert, the Company’s Chief Development Officer, entered into an independent contractor agreement with the Company on September 23, 2011 for three years at an annual payment of $120,000 which is paid to Adversor, a company 49% owned by Guy Robert. Neil Chandran, the Company’s Chief Executive Officer provides monthly consulting services to the Company and was paid $260,454 and $109,747 for the six months ended June 30, 2014 and 2013, respectively.

Offline ybeeds

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jul 2012
  • Posts: 2003
  • Total likes: 10
  • DansDeals.com Hat Tips 34
    • View Profile
    • JewishMusicStream.com
Re: Scam Alert Sungames
« Reply #820 on: October 19, 2014, 09:44:07 PM »
Any financial types want to help me parse this?  http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10210566-14227-18903&type=sect&TabIndex=2&dcn=0001117768-14-000740&nav=1&src=Yahoo
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10210566-19801-23438&type=sect&TabIndex=2&dcn=0001117768-14-000740&nav=1&src=Yahoo
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10210566-30099-61853&type=sect&TabIndex=2&dcn=0001117768-14-000740&nav=1&src=Yahoo

Looks like assets of $2.5 mil and liabilities of $8.9 mil. And there is no product. "It's almost at the end," indeed.

Trouble? You don't say:
And Chandran and Robert are paid as contractors, presumably to protect their take when it all falls down.
Quote
6.            Rebates Liability

During the year ended December 31, 2013, the Company entered into a Master Distribution Agreement for its 3D tablets.  This Master Distributor incentivized many potential resellers with the promise of a 3D tablet for each $1,000 advanced to the Company, an additional rebate for this same advanced amount to the Company, and a few potential resellers were also promised $500 educational grants. The Company has incurred a rebates liability of $7,481,559 and $1,875,253 at June 30, 2014 and December 31, 2013, respectively, and an educational grant liability of $55,000 at June 30, 2014.  The Company has used $975,550 and $416,000 at June 30, 2014 and December 31, 2013, respectively, of the tablet advances to prepay tablet production with an Asian manufacturer to be delivered later in 2014. The promotional 3D tablet, rebate, and educational grants are the subject of an internal accounting review, the results of which will lead to material restatements of the annual report for 2013, and the first and second quarterly reports of 2014.
This sort of lays out what has been known publicly but was supposed to be kept under wraps...
My office buzzes to the JewishMusicStream!!!

Offline AbeBerkowitz

  • Non-Elite Member
  • Join Date: Jul 2014
  • Posts: 0
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Scam Alert Sungames
« Reply #821 on: October 20, 2014, 12:41:41 PM »
 I just don't understand how the investors are not furious. Shimi W promised that he went to Paris with his wife ( paid vacation) and saw all the business with his own eyes!! He pocketed big money already from the investors as he took money off the top- then he disappeared. Rabbi M raised around a million dollars and  took a cut off the top as well and had the chutzpah to ask people for all their money. How can you call yourself a Rabbi and run an organization that helps the poor when you are making them poor!! You are all  leaders of a scam and should be run out of town!
 "Local Chaver" is trying to help and he keeps getting knocked. He is on your side!
   When are the investors going to take a stand and not be afraid to speak out.

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 11423
  • Total likes: 76
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Scam Alert Sungames
« Reply #822 on: October 20, 2014, 01:12:44 PM »
I just don't understand how the investors are not furious. Shimi W promised that he went to Paris with his wife ( paid vacation) and saw all the business with his own eyes!! He pocketed big money already from the investors as he took money off the top- then he disappeared. Rabbi M raised around a million dollars and  took a cut off the top as well and had the chutzpah to ask people for all their money. How can you call yourself a Rabbi and run an organization that helps the poor when you are making them poor!! You are all  leaders of a scam and should be run out of town!
 "Local Chaver" is trying to help and he keeps getting knocked. He is on your side!
   When are the investors going to take a stand and not be afraid to speak out.
While I agree with you, look at it from the perspective of the "investors" (I use the term liberally). What do they gain at this point from speaking out. There money is tied up. What are they going to accomplish for themselves?
Life isn't about checking the boxes. Nobody cares.

Offline AbeBerkowitz

  • Non-Elite Member
  • Join Date: Jul 2014
  • Posts: 0
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Scam Alert Sungames
« Reply #823 on: October 20, 2014, 01:16:00 PM »
 That is how they are getting away with the scam ....
If anyone charges back or speaks out- it will be their fault!  They are using your logic to get away with this scam.
   
 

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 11423
  • Total likes: 76
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Scam Alert Sungames
« Reply #824 on: October 20, 2014, 01:54:19 PM »
That is how they are getting away with the scam ....
If anyone charges back or speaks out- it will be their fault!  They are using your logic to get away with this scam.
   
 
Agreed, but what does the investor gain from doing the chargeback today as opposed to in two months when the whole thing falls apart on it's own?
Life isn't about checking the boxes. Nobody cares.