Banners Broker Q&A with Terry Stern

If you have been following my features on Banners Broker, you may be aware that I was recently invited to Canada to explore their brand new Ontario headquarters. This came after I accused the program of being a scam in these two posts:

In response to the criticism, I was contacted by Terry Stern who is the International Public Relations Director at Stellar Point (acting on behalf of Banners Broker). Terry offered to fly me out to Ontario, put me up in a hotel, and show me exactly how the company operates.

It’s a generous invitation, and one that I plan to accept, although I will be paying for the tickets and hotel out of my own pocket.

Due to work commitments and the fact that my passport is currently floating around the US Embassy, I am unable to make the trip until March.

In the meantime, I suggested that Terry could respond to some of the most pressing criticism directed at BannersBroker in a Q&A session on this blog. He agreed, and you are about to read the full unedited exchange.

Note: There are various questions where I asked Terry to elaborate and provide further detail. Terry declined for the reasons stated at the bottom of this post. In the interest of complete transparency, I have included the unanswered questions and marked which ones Terry did not wish to respond to any further.

Banners Broker Q&A

Finch: First of all, it’d be great to hear some official figures on the money currently circulating in BannersBroker. Can you tell me, a) how much money has been invested in to the system by affiliates, b) how much money has been withdrawn from the system by affiliates, c) how much money is currently sitting marked ‘My Total Earnings’? These figures should help us get an idea of the ratios, margins and overall profitability of the program.

Terry Stern: a) No, this is private information of which no private company would release. b) Again no, private companies don’t release this type of information to outside sources. c) To provide you with this information would disclose proprietary systems that would enable anyone to replicate what BBI does. This is what allowed BBI to be accepted by the Brokers we do business with.

Finch Note: Banners Broker is not shy of boasting at seminars about how much money the program has already paid out, so this was news to me.

Finch: Banners Broker denies that it is an ‘investment’ of any kind. So what is it?

Terry Stern: Banners Broker International is a direct sales company just like any other direct sales company, whereas we buy or manufacture our products, mark them up and resell them to affiliates.

For example, the Broker sells ad space to an advertiser for $10,000, BBI offers to fulfill their obligation for $5,000. BBI resells the ability to generate traffic to an affiliate for $1,000 and upon completion gives the affiliate $2,000 for doing so while retaining $3,000 profit. This is just an example, but it gives you an idea of how the opportunity works.

Finch: The problem with this model is that there is no shortage of advertisers with budgets far bigger than Banners Broker who will also fulfil this obligation for $5,000. What makes you think BannersBroker can get a discount on the ad space but another advertiser can’t?

** No further comment from Terry **

Finch: Banners Broker has made numerous presentations on the ‘$500B/year Blind Network’ that governs how advertising space in auctioned over the web.

This is a remarkable claim considering global advertising spend across all media types was only forecast to grow to $465.5 billion in 2012. When you break the ad spend down to just online advertising, the number drops to $83.2 billion. Only a percentage of this is spent on blind networks…

Terry Stern: …According to a report released by Visual.ly, the total ad spending for 2012 was around $529.5 Billion, with approximately $94.2 Billion spent on online ad spending. Other sources show anywhere from $500 – $600+ Billion, with over $160 Billion spent on online ad spending. There are many sources of information to gather statistics on.

Finch: And I haven’t yet found a single source that acknowledges the presence of a $500/B Blind Network. Can you show me one?

** No further comment from Terry **

Finch: Banners Broker talks of the ten major brokers that work with ‘The Blind Network’, but there is little to no evidence outside of Banners Broker that such a network exists. Can you name the ten brokers, explain The Blind Network, and tell us why nobody else is talking about it?

Terry Stern: This is actually untrue. Blind Networks are a common term used in the online advertising and mobile advertising industries. They’ve been written about by multiple authors, advertising companies etc. OpenX even has on their website the definition of what a Blind Network is. There’s no need for me to list them over and over when the information is readily available.

Finch: You are dodging the question. We all know that blind networks exist, but Banners Broker promotes the concept of a singular Blind Network, of which there are 10 major brokers. Once again, can you tell me the names of those ten brokers?

** No further comment from Terry **

Finch: Banners Broker regularly claims that money paid out to its affiliates is not derived from advertisers signing up on BannersBroker.com, but rather it comes from advertisers being recruited externally on The Blind Network. Can you explain what the company means by this?

Terry Stern: It’s very simple really. The Blind Networks offer low pricing to direct marketers in exchange for those marketers relinquishing control over where their ads will run. Blind Networks achieve their low pricing through large bulk buys of typically remnant inventory combined with campaign optimization and ad targeting technology. “Blind” networks do not allow advertisers to know which site their message will appear on. Most general ad networks offer some transparency related to which sites are a part of a network, or allow for editorial guardians to prevent an ad from appearing on a certain type of site.

Where Banners Broker International comes in, is that they purchase ad space that these ads will appear on in bulk, and the Blind Networks service those spaces through providing ads with the advertisers paying the network for doing so. There are a substantial number of websites that allow for advertising to be placed on them, and those sites are paid based on the number of impressions they boast. Since each site that’s a part of the network is required by the network to have a specific traffic flow-through, the networks are able to sell those impressions and space to resellers. BBI comes in at this point. BBI purchases the ad space on the websites that are looking for ads through the Ad Network, then the ad network services those spaces with ads. BBI generates an income through the difference between what the Ad Network charges the advertiser, and what it costs to pay the publishers. When an affiliate purchases a package from BBI, they are purchasing a pre-packaged amount of ad space, with different propagation time-frames. As the panels run, they symbolize an ad space on a website in the network, and the traffic that’s viewing that ad space. The rate the affiliate pays is more than BBI pays for the ad space, and the amount BBI pays the affiliate is less than it earns for the network. This is how BBI generates the bulk of its revenue.

Some have said that they don’t see their panels moving regularly, this is because the panels don’t move in real-time, and were never advertised to do so.

Finch: You say you purchase ad space in bulk. Well, that makes BannersBroker an advertiser (regardless of whether it resells the space). You are purchasing ad space on a publisher’s site. Advertiser.

You are in direct competition with other large advertisers who want to purchase that same ad space, and are also willing to buy in bulk. The only difference is that they don’t have to pay any affiliates, which gives them a competitive advantage and allows them to price you out of the market. Your mark-up is unrealistic and impossible to sustain.

It is an inevitability of using a model like this:

advertiser > broker > broker > network > publisher

Instead of the tried and tested streamlined model:

advertiser > network > publisher

You say networks ‘are able to sell impressions to resellers’. Forget resellers. The only thing the network does is sell impressions to advertisers. You may be a ‘reseller’, but first and foremost you are an advertiser. And a very disadvantaged one in the sense that you have 300,000 affiliates riding your back.

I’m not even going to breach the subject of panels and packages. They have no relevance in the real world.

So I ask again, how is this a sustainable business model?

** No further comment from Terry **

Finch: If the advertisers that BannersBroker relies on to pay its affiliates are not being recruited on BannersBroker.com, what role do advertisers who sign-up through the website play? Where are their ads being shown?

Terry Stern: Any advertiser that signs up through the website goes straight through to the Ad Networks we are involved with. BBI takes a ‘finder’s fee’ for bringing in new advertisers, and pays the affiliate 10% of the amount the advertisers spends.

Finch: Long shot, are you prepared to reveal any names of advertisers?

More importantly, if you are working with multiple ad networks, how is it decided where a campaign will be run? If I’m an advertiser, I’m at a severe disadvantage if I’m paying a premium to have less choice and less control over where my ads are served. What do I gain by using BannersBroker?

** No further comment from Terry **

Finch: The websites on The Choice Network appear to be owned by the same company. Much of the content might fairly be considered ‘junk’ and there seems to be almost zero organic traffic on these sites. Can you explain why they would be considered a valuable proposition for an advertiser’s ad spend?

Terry Stern: The Choice Network is in a BETA stage, and is currently under review.

Finch: Why is there no mention of this to paying advertisers?

** No further comment from Terry **

Finch: Can you detail the nature of the past relationship between Banners Broker and Clicksor? Is it not correct that until recently, the company used the Clicksor Reseller Network to serve ads?

Terry Stern: This is actually correct. You must keep in mind that the arrangement BBI has with the Ad Networks it does business with is not a typical ‘reseller’ relationship. Clicksor in itself is a small piece of the whole, but still capable of meeting the demands of BBI. With the addition of another Ad Network, we’re now capable of meeting the growing demands and offer new products, and it’s only a matter of time now before other Ad Networks come aboard.

Finch: The Clicksor Reseller Network specifically states that it will only grant the third party access to its publishers, not its advertisers. So, if Banners Broker used this network, can you explain how the model works without having to recruit advertisers through BannersBroker.com?

Terry Stern: As I previously mentioned, we have an a-typical relationship with Clicksor due to the nature of the initial proposal we made to them. Unfortunately I am unable to give additional details regarding that relationship as it’s proprietary information regarding our business model.

Finch: I would agree that your description of the ‘reseller’ relationship is certainly not typical. It’s not typical because it makes no sense. As an advertiser, if I want to run ads on Clicksor’s blind network, I sign up through Clicksor and setup my campaign. There is no need for a broker.

Without attracting advertisers, BannersBroker brings no value to the table. The relationship is built on Clicksor’s platform, using Clicksor’s publishers with an advertiser who signs up via Clicksor. You are suggesting that Clicksor is then going to share a slice of the pie with BannersBroker. Why would they do that?

The purpose of the Clicksor Reseller Network is to give you, Banners Broker, access to the publishers that are signed up with Clicksor. The responsibility falls on you to recruit advertisers. It’s what defines you as a broker, and it’s the only reason why Clicksor would share their profits.

It’s all very well to say that the above does not apply because your relationship is not ‘typical’. You’re damn right it’s not typical. Let’s start by getting to the bottom of how it’s even possible.

Please explain exactly, in the most simple form, how your Reseller relationship differs from the standard Reseller relationship. And more importantly, why it makes sense for a) Clicksor, and b) the advertiser.

** No further comment from Terry **

Finch: Here’s a quote from a BB presentation: “In the beginning, Chris Smith went to the 10 banners ad brokers and proposed that he create a relationship with them as a broker of a different type. All but one of those companies refused. One mid sized broker could see the potential.

Can you describe the nature of this relationship that he proposed?

** Terry declined to comment **

Finch: It’s well known that Rajiv Dixit, Chris Smith and David Hooker like to travel the world holding seminars to attract affiliates. Can you explain why there is no evidence of a Banners Broker presence at any of the major advertising trade shows?

** Terry declined to comment **

Finch: Rajiv Dixit is well known for his involvement in the controversial ICF World Homes program, which was effectively shut down by the Canadian Competitions Bureau. David Hooker was also Director of Sales and Marketing at Herbalife, another company facing allegations of illegal pyramid trading. Very little is known about CEO, Chris Smith. Can you describe his background and what he did before founding Banners Broker?

** Terry declined to comment **

Finch: One of the great hooks behind the Banners Broker business model is that it helps the ‘little man’. As a philanthropic cause, doesn’t it make more sense to operate a streamlined business model (without affiliates) and then, say, donate to charity?

Terry Stern: This is the business model that was chosen. The affiliate program gives everyone interested, or who may have failed at building an online business before, the opportunity to succeed and generate revenue from an online business.

Finch: Why choose the least effective form of financing? There has to be a reason why a vastly inefficient affiliate model was favoured over venture capitalists. What is it?

** No further comment from Terry **

Finch: I’ve read reports on this very blog of $300 purchases resulting in profits of thousands per month. The affiliates see your company as a remarkable opportunity to make money (who could blame them?). I see those affiliates as more of an achilles heel.

If we are to assume that Banners Broker ‘borrows’ $100 Million from affiliates to leverage the company’s ad/pub growth, and if we take an extremely conservative estimate that the end goal of those affiliates is to double their money, that means that – effectively – Banners Broker has borrowed $100 Million while paying another $100 Million in interest (expected affiliate payouts). That’s an instant APR of 100%.

You have spoken on a number of occasions about the potential of leveraging affiliate purchasing power. My view is that it is a curse, not a blessing, when the expected returns (indeed, the reported returns) are so high.

A venture capitalist or an investment bank would take one look at your business model, give you the cash – if it’s up to scratch – and only ask for a fraction of the return. That’s more growth, more purchasing power and far LESS support tickets than you receive by using affiliates. What are your thoughts on this?

Terry Stern: This is where most become confused and accuse us of being something other than where we are. We do not guarantee that you will double an affiliate’s money, we state that after the first two complimentary cycles have completed, that an affiliate will have twice what their initial inventory purchase was valued at. They will either have their initial purchase price available in their ewallet and a matching amount in panel inventory, or they will have twice their initial purchase value available to them in inventory. After that, it’s up to each affiliate to manage their business according to what their individual goals are. We do not make claims offering obscene amounts of money, or that you’ll make thousands each month. The returns are completely dependant on the efforts of the affiliate. Yes, there have been some issues with conflicting verbiage that has been used in the past, which is why the company has created the roles of compliance and public relations in order to correct these issues.

Furthermore, it’s currently being introduced that affiliates must have running campaigns as part of their businesses. This isn’t a ‘sit back and do nothing’ business, this business requires attention in order to work optimally, and since this business is about brokering ad space, it’s important the affiliate understands the business through utilization and application.

Finch: With all due respect, the archived BannersBroker Facebook and Twitter feeds are littered with examples of guarantees and false promises. The entire business was launched on a promise of ‘doubling your money’.

Here’s the BannersBroker.com homepage, as it appeared days after launch:

BannersBroker Doubler

You are now saying that you’ve never guaranteed doubling the affiliate’s money, despite hundreds of examples of such promises, both online and offline at events.

Do you not feel that the 300,000 members who’ve signed up to BannersBroker should be entitled to full refunds given that many of them have been recruited under misleading advertising?

** No further comment from Terry **

Finch: What makes the company think Banners Broker is operating a sustainable business model when a competitor could enter the market with the exact same model and undercut you by not taking on affiliates?

Terry Stern: In order for your assumption to be valid, you would have to fully understand the details in the BBI business model, which isn’t a standard reseller’s agreement, and you would have to have access to the algorithms that are used to support the system. There are many companies that ‘undercut’ others, which is what defines competition. It’s like how Coke and Pepsi are constantly undercutting each other to gain larger sections of the marketplace.

Finch: Affiliates are told that BannersBroker requires work to succeed. They are encouraged to build their own ‘Banners Broker business’. Can you explain, in market terms and as a value proposition, what this business is?

Terry Stern: The business simply put, is brokering ad space for advertising. The more affiliates an affiliate can bring into the network, the more they are able to take advantage of the credit incentives the company offers. As previously mentioned, affiliates are now also being required to run campaigns. The business is about brokering ad space, and an affiliate can run a campaign to promote their BBI business, but they still must run a campaign as part of their business.

Finch: You say affiliates are being required to run campaigns. What kind of campaigns? And why should they have to run them?

** No further comment from Terry **

Finch: Paying affiliates internationally via a pre-funded Mastercard is considered by some to be a form of money laundering. Money laundering or not, it’s a very strange method of payment that is not available through any other reputable ad networks. Why hasn’t the company set up international direct deposits or even cheques as a payment option?

Terry Stern: In order for the automated software to work properly for everyone, the company needs to have options that everyone can use. Since PayPal doesn’t work for every country, and bank transfers become complicated with some countries, in addition to placing additional delays on the time it takes for payments to propagate, additionally, some affiliates that come from poorer countries may not have bank accounts due to the complications involved in getting one. Since the system needs to provide options that accommodate all affiliates, only those methods that can actually be used by every affiliate are considered and used. The BB Card is an approved method of transferring funds accepted by all countries we do business with, provides the shortest amount of time to process, and enables an affiliate to gain access to their funds quickly.

Finch: You mention ‘automated software’. It seems that BannersBroker payments are anything but automated, otherwise there would be a consistent pattern to when they are received.

Why does every payment method have to accommodate all users? If that was the case, there would only be one payment method. You’ve already shown that you are willing to be flexible otherwise it would be just STP, or just Payza, or just the card. Why not extend that flexibility to reputable payment processors that work much more efficiently with much less hassle?

** No further comment from Terry **

Finch: Can you explain why the company requires notarised user ID from affiliates when its competitors do not?

Terry Stern: Since we do business internationally, we are required to verify the identity of each person we do business with, just like a bank does with KYC “Know Your Customer”. The payment provider we use requires that we provide them with specific ID verification samples in order for them to approve payment processing for that affiliate. All information we collect to provide ID verification is passed to the payment processor who validates that information prior to accepting payment requests for them. If they fail verification, they are unable to be paid until they have solved the issue. Any ID accepted by BBI on behalf of affiliates, is kept in the strictest of confidence, and is only provided to the payment processor with the same level of confidence. There are multiple forms of ID that are accepted, and notarization demonstrates that the person in-fact matches the ID form used.

I am unable to speak on behalf of other companies since they have their own criteria that they are required to comply with.

Finch: Many affiliates will be keen to hear why their payments have become more sporadic. Standard members were originally told they would have to wait 7 business days to receive withdrawal requests. They now have to wait 20 calendar days, and many members have reported waiting significantly longer. The delays are consistent with a pyramid operation where it takes longer and longer to fund the exponential increase in withdrawal requests. If that is not what is happening, what would you say is the real reason behind these payout delays?

Terry Stern: BBI is unable to control the time it takes for payments released to their institutions, as once funds are released, it falls to the institution to release the funds according to their protocols. It usually takes 3-5 days for the funds to be released from the BBI banks following a request. From there it takes an additional 3-5 days to transfer the funds in order for the institution to verify the request. Once the institution receives the funds, it is up to them how long to wait to release the funds, we can’t dictate that. This is why BBI is transitioning everyone to the BB Card. Once the funds are released to be loaded, the cards are loaded right away and the delay is minimal.

Finch: The company has implemented a requirement that 3 months advance notice be given for any withdrawal over $10,000. We know that advertiser revenue enters the system as soon as the impressions have been bought. In fact, on BannersBroker.com, the advertiser is required to pre-fund his account before he can run any ads. This advance payment means the strain on cash-flow should be minimal. Why does it take 3 months to issue the larger payments?

Terry Stern: BBI has investments in various places, with the time it takes to gather the funds from the various institutions to meet the requests by our affiliates. It’s a well known fact that financial institutions invest the money placed in their trust. Even PayPal follows this practice. In order for sums to be processed, first the financial institution must request the funds to settle our request, then our request needs to be processed. Once the funds are processed they need to be dispersed to the various financial institutions, they must then process the requests and then the payments are released to the individuals. For extremely large sums the timeframe takes longer. You must understand, that the amounts BBI requests isn’t for one affiliate but for hundreds, so the amounts are quite large and require enough time to safely ensure that all funds are available to the affiliates.

Finch: Yes, it’s a well known fact that financial institutions invest money placed in their trust. But when I go to draw a large sum out of a bank, I’ve never been told to go and take a seat and wait for 3 months, certainly not for $10,000. Either you have the money or you don’t. If your investment in ‘various places’ is slowing down the withdrawal process to such an extent, dare I say the company should stop investing in ‘various places’ and focus on improving its cashflow so affiliates can get paid in a timely manner?

** No further comment from Terry **

Finch: When Banners Broker was launched in 2010, it was advertised as a ‘straightline cycler doubler’ on its official blog, on its Twitter account, in YouTube videos and in promotional materials provided to the HYIP community.

Here are tweets archived from Banners Broker in 2010 and early 2011:

7th December 2010
“The Banners Broker Queue is at 6 Days to start Doubling! Where else can you double your money this quickly? A LOT of Members Doubled Today!”

22nd December 2010
“The time frame to double will always fluctuate, but currently we are at an amazing fast past with only 3 days to start doubling!”

8th January 2011
“We are at an AMAZING 2 days to start doubling!!!! This weekend only. Now is the time to buy Packages. Spread the word!”

22nd January 2011
“Welcome back the 2 DAY QUEUE! That’s right, we are sitting at 2.5 days for you to start doubling your money. Buy a package now and get in!”

Can you explain how the company has undergone such a radical transformation from self-proclaimed ‘straightline cycler doubler’ to the most rewarding advertising/publishing platform the world has ever seen?

Terry Stern: This is an exaggeration. The platform isn’t the most rewarding, although we appreciate your stating so.

In the beginning, admittedly, the wording wasn’t chosen with the delicacy and precision that it should have. This is why Stellar Point has introduced their international compliance and public relations departments, not just in Canada, but in every country they operate in. Currently the wording for much of BBI’s marketing and training materials is undergoing revision to correct the inaccuracies in how the programs and company were described. Verbiage aside, the program does provide what it states, to provide a return following the completion of the two complimentary cycles, equal or greater than the initial inventory purchase value. Once again, after that, it’s up to the affiliate to move forward according to their individual goals

Finch: Yes, you have introduced a compliance team a full 24 months after the launch of the program. Meanwhile over 300,000 affiliates have already joined the program – many under false pretences of doubling their money.

Given you are accepting that the company has been falsely advertised and misrepresented by both affiliates and your own website, shouldn’t your customers be entitled to full refunds?

You have taken their funds happily whilst using misleading advertising, and being compliant for over 2 years in allowing the false misrepresentation of your company by affiliates.

I’m sorry, but a vow to ‘fix things’ for the next 300,000 affiliates is unlikely to please many of the existing 300,000 affiliates who feel they’ve already been sold down the river.

** No further comment from Terry **

Finch: Banners Broker was launched privately in the HYIP community, a space notorious for ponzi schemes and false ‘get-rich-quick’ claims. Why did the company choose to target the usual ponzi players for its seed investment as opposed to an investment bank, a venture capitalist or, say, Mike Arrington?

Terry Stern: Simple, because this is where people looking for affiliate and self-generated business opportunities look for new ones. The community is also where legitimate companies looking to source affiliates for their programs, not all of which are ‘ponzi’ schemes, and the intention wasn’t to source seed investment, but as mentioned previously, those that are looking for an opportunity to succeed online where they may have previously failed.

Finch: Self-assessment deadline is rapidly approaching in the UK where many Banners Broker affiliates will be required by law to report their full online earnings. What tax advice would you give to your UK affiliates?

Terry Stern: None, BBI doesn’t provide tax advice. Each affiliate is their own business entity, and thus are responsible for their own accounting and taxes. Realistically, affiliates should speak with an accountant to determine what the best advice would be.

Finch: When filing a tax return, the Banners Broker income listed under ‘My Total Earnings’ should be declared as earnings even though it hasn’t yet been withdrawn. Would you agree or disagree?

Terry Stern: Disagree, an individual doesn’t pay taxes on earnings they haven’t drawn.

Finch: Regarding the Banners Broker office raid in Goa:

At the time of writing (and according to the North Goa Courts database), Ana Luisa Onofre Alves Bento, head of BB India, is awaiting a court hearing after charges were brought under IPC section 4, 5 and 6 of the PCMC banning act 1978, 406 and 420.

‘Mischief’ from a past employee was the reason given for the trouble in Goa. Can you give a little more detail about the exact sequence of events and the nature of the charges?

Terry Stern: Unfortunately I am unable to comment on an ongoing investigation and court case.

Finch: David Hooker was quoted by a Banners Broker employee as saying that the Goan office would be open on the Saturday following the raid, and that the entire event had been a misunderstanding. We are now hearing that the office was willingly closed as the company had already made plans to move to Bangalore. Was the Goan office closed by the police, or was it closed willingly?

Terry Stern: The office was closed by the Police, however the company was not closed down and is still actively operating in India. In November of 2011 a decision had been made to move the company to Bangalore, the “Silicone Capital” of India due to it being more conducive to BBI’s expansion plans.

Finch: In David Hooker’s statement, he says:

PS: Please be informed that although Mr Edney Heredia has been terminated from Banners Broker he continues to be one of the directors, and 50% shareholder in the company as he refused to relinquish his shares in the company. He tried to sell his shares for $50,000 and when this was refused he reduced his request to $10,000 which was still refused by the Executives of Banners Broker International.

$20,000 seems like an extremely modest valuation. Can you disclose on what basis the offer of $10,000 for 50% of the company was refused?

Terry Stern: The company Banners Broker India was initially set up to operate on behalf of BBI and provide training and marketing services. This function has been passed to an Independent Contractor and as such, the company has no value. Mr Heredia has shares in a company that has no function or value. Paying $10,000, $20,000 or $50,000 for a company without value seems a bit ridiculous does it not?

Finch: On one hand you say the company has no value and its function has been passed to an independent contractor, on the other hand you say the company was not closed down and is still actively operating in India with plans to move to a large new office in Bangalore. Which is it?

** No further comment from Terry **

Finch: There are conflicting reports over how BannersBroker plans to deal with bloggers – like myself – and critics posting ‘negative’ pieces about the company. Just recently, Lorenzo Guarini, a leading Banners Broker ambassador was quoted as encouraging affiliates to “ignore the negativity online and get on with [your] businesses. They [Banners Broker] are going to have a bit of a blogging war, by having BB writing negative blogs about the negative bloggers which should be fun.”

This contradicts the official line of communication, clearly, as I am sitting on a cordial invitation to visit Canada and explore the head office in person.

What is your official response to the naysayers and critics? Should we be prepared for targeted hate campaigns, legal action or open invitations to Canada? Is there anything you’d like to say?

Terry Stern: I’ve actually already responded to this on your blog but I’ll say it again here.

Neither Stellar Point nor Banners Broker International is launching any type of ‘hate campaign’ or ‘blogging war’ against those who have expressed negative opinions about our company online. Every company looks to protect its image, however, I will not resort to that sort of behaviour. An invitation was sent to 4 people, 2 have accepted, 1 has refused and 1 has not acknowledged the invitation at all. So far, I have not received any dates to which any of those contacted would like to visit, but the offer stands.

I made this offer in order to allow those that would say negative things without having first-hand information, to have the opportunity to see and learn first-hand who we are, how the system operates, and have their questions answered in-person in-context rather than through text where the message can get lost or edited. Once they’ve had their questions and concerns dealt with, they can report back on us with factual first-hand experience and knowledge, whether they feel we’re legit or not, and everyone is satisfied.

I don’t like the “schoolyard rules or etiquette” like I’ve experienced on some forums/blogs. Our doors are open. If people want to know what’s really going on, come visit and find out for themselves, but to quit guessing and making a fool of themselves. They really don’t have the answers they think they do.

Finch: You were recently quoted on this blog as saying:

BannersBroker used to have regional offices set up in each country they did business in. The problem arose whereby the people running some of those offices chose to stray from the official method of doing business and implemeted their own procedures and instructional techniques. This resulted in some of the problems we’ve been talking about on the blogs and forums, where misinformation was handed out, and affiliates were told the wrong thing to get them to sign up. One such issue was in fact in the UK, where the representative there started charging affiliates for support when he should have referred them to BBI. He also signed up people under false pretenses to the tune of $4 Million which he placed in an offshore account. You already have heard of what’s going on in India.

This leads to a few obvious questions.

Firstly, is the UK representative you are referring to Ian Driscoll?

Shouldn’t members who signed up to Banners Broker under these false pretences be entitled to a full refund?

What action is being taken against the individual in question?

The official line on Driscoll’s departure was that “We wish Ian Driscoll and his wife Leslie all the very best for their new business venture.” Do you not think your UK affiliates have the right to know if their former recruiter stands accused of stealing $4 Million of their money?

** Terry declined to comment **

In Conclusion…

As you can see, Terry declined the opportunity to reply to many of my follow-up questions. He gave this reasoning:

I’m letting you know, that I won’t be responding to the follow up questions. I’m not doing this out of malice, but rather basing it on the fact that my responses are being viewed through eyes that are comparing the company to traditional forms of using ad space rather than truly reading what I’ve been describing. Even reading through your follow up questions, it became apparent that you’re still looking at BBI as though they were an advertising company and not a broker.”

“As a result of this, I’ve composed a rather lengthy post, but a comprehensive response to you and those reading your blog, regarding once again, who the company is, and how it works. Everything there is the same as has gone to different governmental organizations around the world describing who the company is and how it operates. Hopefully this time people understand a little clearer how the whole process works, and find better things to do with their time than try and twist minute details into synthetic issues for debate.

You can read Terry’s full response here.

I want to thank Terry for taking the time to answer (some) of my questions.

It would be easy for Banners Broker to ignore this blog and allow their devoted followers to dismiss the previous scam warnings as misleading lies and malicious ‘hate blogging’. Some will certainly try that tactic.

I appreciate Terry’s attempt to respond to the criticism, and I hope our exchange quells the ridiculous rumours that a ‘crack legal team’ is about to take action against me, and people like me, who speak out against the program.

Have any of the arguments put forward by Terry Stern changed my view of Banners Broker?

Unfortunately, no.

The core business model just does not stack up, and there are too many questions that remain unanswered. These were not difficult questions.

While Terry is quite within his right to refuse to comment, I reject the idea that “you’re still looking at BBI as though they were an advertising company and not a broker” qualifies as a reason for why some of the questions were passed over.

I look forward to visiting the Banners Broker HQ first-hand in March. Until then, I’m afraid my advice remains to avoid this program. If you already have money invested, I suggest withdrawing as much as you can as quickly as you can.

Finch's FREE Affiliate Startup Kit
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About the author

Finch
Finch

Hi, I’m Finch. A 26 year old high school dropout (slash academic failure) who makes a lot of money from the Internet.

  • http://dinovedo.com Dino Vedo

    Just another get rick quick scheme. Definitely want to avoid it at all costs, great interview Finch. Money comes from hard work and dedication, and not by joining some flimsy online pyramid scheme like this one.

    - Dino Vedo

  • http://www.philhendy.com Phil Hendy

    A good q and a. A real shame that Terry refused to comment on the follow up.

    one item that stuck for me was the treatment of UK taxes. His view may be corrcet in Canada but certainly is not in the UK. Just because you don’t have the cash in your pocket does not mean it is not earned yet. We use generally accepted accounting practices (GAAP). That is why you will hear accounting terms like, Stock, Debtors and WIP which all have an impact. Of course that only works on the assumption of Banners Broker being a genuine business.

  • http://www.philhendy.com Phil Hendy

    Also the admission of ‘investments’ elsewhere. That is true if a company has excess profits and cashflow with which to invest. Surely the priority should be to pay out its affiliates, effectively the key capital investors into BB according to Terry.

  • Maynard

    Here are the LAST LINES of all the questions which Terry refused to answer.

    It’s said that silence speaks louder than words …
    ______________________________________

    What makes you think BannersBroker can get a discount on the ad space but another advertiser can’t?

    ** No further comment from Terry **
    ______________________________________

    I haven’t yet found a single source that acknowledges the presence of a $500/B Blind Network. Can you show me one?

    ** No further comment from Terry **
    ______________________________________

    So I ask again, how is this a sustainable business model?

    ** No further comment from Terry **
    ______________________________________

    I’m at a severe disadvantage if I’m paying a premium to have less choice and less control over where my ads are served. What do I gain by using BannersBroker?

    ** No further comment from Terry **
    ______________________________________

    The Choice Network is in a BETA stage, and is currently under review. Why is there no mention of this to paying advertisers?

    ** No further comment from Terry **
    _______________________________________

    Please explain exactly, in the most simple form, how your Reseller relationship differs from the standard Reseller relationship. And more importantly, why it makes sense for a) Clicksor, and b) the advertiser.

    ** No further comment from Terry **
    ______________________________________

    It’s well known that Rajiv Dixit, Chris Smith and David Hooker like to travel the world holding seminars to attract affiliates. Can you explain why there is no evidence of a Banners Broker presence at any of the major advertising trade shows?

    ** Terry declined to comment **
    ______________________________________

    Very little is known about CEO, Chris Smith. Can you describe his background and what he did before founding Banners Broker?

    ** Terry declined to comment **
    _____________________________________

    There has to be a reason why a vastly inefficient affiliate model was favoured over venture capitalists. What is it?

    ** No further comment from Terry **
    _____________________________________

    Do you not feel that the 300,000 members who’ve signed up to BannersBroker should be entitled to full refunds given that many of them have been recruited under misleading advertising?

    ** No further comment from Terry **
    _____________________________________

    You say affiliates are being required to run campaigns. What kind of campaigns? And why should they have to run them?

    ** No further comment from Terry **
    _____________________________________

    If your investment in ‘various places’ is slowing down the withdrawal process to such an extent, dare I say the company should stop investing in ‘various places’ and focus on improving its cashflow so affiliates can get paid in a timely manner?

    ** No further comment from Terry **
    _____________________________________

    On one hand you say the company [in India] has no value and its function has been passed to an independent contractor, on the other hand you say the company was not closed down and is still actively operating in India with plans to move to a large new office in Bangalore. Which is it?

    ** No further comment from Terry **
    ____________________________________

    The official line on Driscoll’s departure was that “We wish Ian Driscoll and his wife Leslie all the very best for their new business venture.” Do you not think your UK affiliates have the right to know if their former recruiter stands accused of stealing $4 Million of their money?

    ** Terry declined to comment **
    _______________________________________

    FINCH SAYS: “As you can see, Terry declined the opportunity to reply to many of my follow-up questions. He gave this reasoning”:

    TERRY SAYS: “I’m letting you know, that I won’t be responding to the follow up questions. I’m not doing this out of malice, but rather basing it on the fact that my responses are being viewed through eyes that are comparing the company to traditional forms of using ad space rather than truly reading what I’ve been describing. Even reading through your follow up questions, it became apparent that you’re still looking at BBI as though they were an advertising company and not a broker.”

  • Maynard

    @ Finch

    I’d just like to say a big THANK YOU for all the time and effort you’ve put into this. Banners Broker now lies naked as a complete and utter scam, in a very large part thanks to you.

    Other blogs have tackled this pernicious ponzi, but your incisive questioning of Terry Stern, born of your in-depth industry knowledge and overall commercial nous, has (in my opinion) struck deepest to the heart.

  • Grandão

    Phil Hendy: Just because you don’t have the cash in your pocket does not mean it is not earned yet.

    Correct, I remember articles being written in the news papers about someone who won the December lottery in 2011, having to pay propery tax over this amount in 2011. He started a lawsuit as he only received all millions in January 2012 on his bank account. The court decided that the tax assessment over 2011 was correct and legal. So even if your money is in a lottery ticket or in an e-wallet and yet has to be cashed, in most countries you will need to pay tax over your (yet) virtual earnings.

  • Teo
  • Nick

    Nice one Finch! It looks like Terry was the blessing in disguise for all those who weren’t sure about Banners Broker being a Ponzi Scam or not. Now everyone can see right before their eyes what it is.

    We have no further need for you Terry, you did a great job!

  • Ditto Ditto

    Sadly, there will be people out there who will misinterpret what Terry has said and only paint the company as coming out of the discussion with flying colours.

    Yes Finch, well done on re-visiting BB from a business point of view. Concur with your final analysis as well.

    DD

  • D. Pressed

    Very good work Finch. You asked the right questions. Mr Stern’s answers are transparently opaque!

  • Madoff

    Great work Finch and a masterclass by Terry in how not to do a PR campaign. Anyone reading that carnage for BB and their PR monkey, and still joins deserves everything they get TBH.

    Looking forward to see the slow unraveling of BB. Sorry for the victims but hoping that justice and jail will be waiting for the scum that are involved ASAP.

  • Chuck

    Terry, if you are reading this I would appreciate it if you could clarify the two critical points I raised:

    1. Why would a large ad network like OpenX work with Banners Broker, and give up 50% of the profit potential by including BBI in the equation? What value does BB bring to the relationship? Before you answer, please don’t say “300,000 affiliates” or “cash” — because it is clear that the affiliates do not do anything to drive ad traffic, and these ad networks have capital investors who already provide funding. So, what does BBI bring to the table to make these ad networks so willing to sacrifice precious GP?

    2. You stated twice now that OpenX was one of the key ad network partners that helped BBI drive that $150M (minimum!) yearly profit for its affiliates. Yet when I contacted someone at OpenX they said that BBI is simply using a free ‘trial’ ad server that OpenX hosts, and that they didn’t even know who BBI was until I asked.

    Sir, it appears that you are lying to the readers here. You need to either capitulate or clarify. As a fellow Freemason I remind you of our creed.

  • Rob

    Hello guys,

    I read the above,and i discover some lying from the part of Mister Stern,

    He claims,that withdrawals,that take longer,has to do with the payment processors.

    This is such an lie.

    I noticed withdrawals take more then 4 weeks.Pending withdrawals to payza and pending withdrawals to the BB card are still not processed.

    It has nothing to do,with the payment processors or the bb card,but it has everything to do with not completing the withdrawals on the behave of bannersbroker.

    Some upliners,told me that i have to wait untill bannersbroker,complete the withdrawal.

    Obviously bannersbroker is waiting for fresh money to come into the system so they can pay out the affiliates.

    In mine case,the pending withdrawals where never completed…..

    It is obviously an ponzi scheme,and affiliates are paid,through out new and fresh money from recruiting activitites……

    And i am not the only case,of the pending withdrawals.There are many people still waiting for their money and they also notice an pending withdrawal in their backoffice.

    Check facebook for more information or talk with other affiliates about this problem.

    Greetings

  • Anti-Scam Watchdog

    Banners Broker is almost coming to an end. But now the Banners Broker leaders in Cambodia are promoting another scam. It is called Profitable Sunrise (www.profitablesunrise.com). They promise more than 25,000% return on investment in 170 business days. An investment of 5k will yield 743k in 170 business days. This is an outright scam. This is the youtube http://www.youtube.com/watch?v=5FkbxGrFSAU . This scam originated out of UK. They like cheating the poor and gullible. Now a lot of money have been collected in Cambodia to invest in this scam. I hope Finch can touch on this with another post. This scam is very easy to be exposed. Remember these people Thea Sochet, Chhay Minea, and Sam Ol Govinda. They are responsible for bringing all these scams (banners broker and now profitable sunrise) to Cambodia.

  • That Was Pathetic

    That a well constructed Q & A Finch unfortunately (through no fault of your own) I knew I would finish reading feeling deflated, and kind of gigglish at Terry’s consistently weak PR efforts.
    As usual nothing of any real value or reassurance was givrn by this Scammers Brokers PR fall guy.
    His reasoning for not answering some of the most important sought after questions from affiliates is PATHETIC.

    The Only thing Banners Broker is good for are the arse end of real online advertisers’ jokes!

    I will be attending a Google conference in two weeks i’ll be sure to spread the good word after all I’m sure i’ll be attending one for BB in the near future being the Mega Mogul Brokerage it is LMAO!

    I suggest you stay away Terry unless you intend answer the questions without dodging or coming with trivial reasons to avoid the IMPORTANT questions we can see right through your BS.

    Oh and Chris Smith (if that is your name) stop hiding FFS your worse than Terry where have you been for the last couple of years you are most spineless of them all, getting Terry to take the wrap for you, your a bloody coward come on here and clear things up once and for all!

    Until irrefutable evidence is provided BB will never get the respect it/they deserve. PONZI

  • Ditto Ditto

    “I will be attending a Google conference in two weeks” Would be interested to know what is said there.

    DD

  • StuartRitchie

    Terry Stern: “For example, the Broker sells ad space to an advertiser for $10,000, BBI offers to fulfill their obligation for $5,000. BBI resells the ability to generate traffic to an affiliate for $1,000 and upon completion gives the affiliate $2,000 for doing so while retaining $3,000 profit. This is just an example, but it gives you an idea of how the opportunity works.”

    Is it just me who wonders where the $5,000 comes from in this example to buy the ad space? It doesn’t come from the affiliate, who pays $1,000 afterwards to buy “the ability to generate traffic”.

    I could understand if he said they charge the affiliate $6,000. But someone has to fund the $5,000 initially. If they have the funds or a backer, why do they need the affiliate (to help the little guy, I know…)?

  • brenie

    great work finch …. like expected Terry danced arround the questions and ofc WE DON’T UNDERSTAND the business model …. and when he feels that he is cought in his own web of lies … he doesn’t answer :)
    but am happy he showed up i’m now even more convinced that BB is a ponzi ….

    kind regards

    brenie

  • miky

    It´s really funny how are people obsessed with money:)) In one group on Facebook are daily things like this. People are stupid that they thing BB is a scam. In some time we will have a lot of money and buy a house with a pool and they will go to work everyday:)). Or I will buy a Bentley and they will clean it for me and I will pay them:)) Or not all people in the World can be rich:))) I like to read it it is funny.

  • BBinsider

    Yep. People really are that deluded…

  • Anonymous

    I can’t really believe it but judging from most of the shills language, it seems most are under the age of 16.

  • That Was Pathetic

    @Ditto I will certainly let you know :)
    I can just picture the blank stares already. (tumbleweed slowly rolling past with dead silence except for random crickets chirping in the background)

  • Ditto Ditto

    @that was pathetic

    Trying to provide suitable Western type music. You the Clint Eastwood character? As you say, blank stares, but do report back ;)

    DD

  • Nubby

    So, like must of you said, i will be able to loose my money on BB, and i am almost believing
    you… now i could not withdraw my money.
    Because of my age i could not find a work in a traditional busyness…
    Could you please recommend me a good busyness online?

  • BB-won’t-pay

    Terry Stern is lying about why people aren’t being paid on time. It’s not the processor’s (STP, Payza) it’s not the banks. BB is not releasing the money. I have been waiting more than two months for a bank transfer that is still pending. Now they have decided to not pay anyone except through the BB Vector card? And if you want to be able to make more than one withdrawal a month you have to have your ID notarized…the same ID that has been fine for the last 8 months? They are stalling. I hope they pay us, but I think I would be just as happy to not get the money they owe me and see these POS go to prison. I hate BB now! Lying sacks of sheeeet.

  • Chuck

    I’ve posted this at least five times now, and Terry is ignoring it, although he has definitely seen it. What does this tell you boys & girls? Here it is for the last time, since he can’t (or will not) comment.

    Again:

    Terry, if you are reading this I would appreciate it if you could clarify the two critical points I raised:

    1. Why would a large ad network like OpenX work with Banners Broker, and give up 50% of the profit potential by including BBI in the equation? What value does BB bring to the relationship? Before you answer, please don’t say “300,000 affiliates” or “cash” — because it is clear that the affiliates do not do anything to drive ad traffic, and these ad networks have capital investors who already provide funding. So, what does BBI bring to the table to make these ad networks so willing to sacrifice precious GP?

    2. You stated twice now that OpenX was one of the key ad network partners that helped BBI drive that $150M (minimum!) yearly profit for its affiliates. Yet when I contacted someone at OpenX they said that BBI is simply using a free ‘trial’ ad server that OpenX hosts, and that they didn’t even know who BBI was until I asked.

    Sir, it appears that you are lying to the readers here. You need to either capitulate or clarify. As a fellow Freemason I remind you of our creed.

  • Ditto Ditto

    @chuck

    Maybe you need to post it on a regular basis so that new readers can see the avoidance by a leading light in BB avoids difficult questions.

    DD

  • http://www.thebestinternetbusinessopportunity.com Andrew

    Hi there guy’s

    I regularly visit this site to check all of the great content it produces.
    But the question i have is, i’m involved with BB and have withdrawn money on a monthly basis!
    If anyone else is involved?
    If so what are your experiences? I’m not saying any of this if is bogus!
    I’m just really interested that’s all.

    Thanks

    Andrew Middleton

  • Claudia

    I am about to put money into BB, after researching everything I could read and watch for over 3 months. Finally decided that after I recover my initial investment…..then…I have nothing to lose. I’m intrigued and will make money as long as the system holds up. I figure, why not?

  • BBinsider

    Well Claudia, if you have done all the research that you claim and still think its a good idea to put in money to BB, you are an idiot. The cycler is dying. People are not getting paid. If you want to throw away your money, give it to me. I’ll find a good use for it.

    (Just to point out, I have no doubt that Claudia is already a member of BB and is trying to draw new people in so she can get out her original investment. I haven’t got my full investment out yet and don’t think I will at this stage. I am not going to try aand sucker people in at this stage to increase my chances.)

    Give us a laugh Claudia, what research did you do?

  • Adam

    Unfortunately for Finch – Banners Broker isn’t a scam. No disrespect to Finch and the others on here for thinking that it is but if you can’t understand the concept, doesn’t mean its a scam!. It’s very easy to understand and deep inside Finch knows himself how it works but of course receives his gain from writing stuff like this as he gets his traffic (which in turn then he will try and convince to join his scamming systems) – let’s face it – theres more hype around negtativity!

    Anyway – speaking as someone in Banners Broker for 6 months – I purchased a package and initial cost was around £320. I have withdrawn to this date in total from my card £725 and will be able to withdraw another just over £500 when my next set of panels complete. This for doing minimal work with 2 people signed up under me. Im signed up with a few affiliate programs but Banners broker is by far the best.

    Anyone wanting to sign up to BB – you wont regret it. It aint a scam – it wouldnt be running for 2 years if it was. If you think its a scam then dont join – simple!
    (sorry finch you aint getting my email to be bombarded with your lies)

  • Just another reader..

    Ouch BBI… So much hate in here..

    But i just cant leave before ive set one thing right! Again we have a self-promoting blogger, look at the end of the “interview”:

    “Finch’s FREE Affiliate Survival Kit
    Want to know what is currently working in affiliate marketing as of July 2012? Subscribe and receive my Free Survival Kit”

    “Want to know what is currently working in affiliate marketing as of July 2012?”

    Lol, if thats not stealing interested BB-might-be-future-affiliates, I dont know what is. Yes, those people who got to this page from doing research on BB.

    Seriously, either the cup is half empty or the cup if half full – u get it? Its all about ones point of view. I see great points in both parts, but the blogger here is clearly making the interview in his own interest and can re-edit it as he finds fit, NOTHING can be stated with concrete proof. This blog is all about getting the bottom of the page —> “Join my affiliate link, I have now proven BBI to be a ponzi – you can trust me – join my program, I have pointed out the beast!”.

    Finch i really hope you do take action of your invitation to BBI HQ and make a real interview with solid proof, like recorded interviews – atleast. If you really want to make a statement do that – or maybe this might be the last we have seen to yet just another blogger, who wanted to farm some traffic.

    I do hope I have provoked a reaction and you do take action of your intentions and on the other hand, prove you are not just promoting your own campaign. In the meantime, we might never know what BBI really is.

    Why should anyone trust what is stated, when clearly this is made in self-interest of just another affiliate program…

  • http://www.kjrocker.com/ CPA Affiliate

    I know many guys who are doing BB but i do believe its is a ponzi scheme and wont last long BB will die one day taking all money of silly people who think money grows on trees

  • BBinsider

    Terry wouldn’t answer very simple questions already. Why would he answer them if Finch goes to that warehouse in Canada?

  • Acrylic1

    Good luck with that $500 withdrawal Adam, lol! I’m glad you told me its not a scam, because here I was thinking that Chris Smith is a CROOK, and that Banners Broker is a PONZI – 99% of the evidence says that, but I’d rather believe the 1% like you.

  • Bystander

    This is the first time I’ve posted on the subject, although I’ve been watching from the sidelines; partly hoping to see BB closed down, and partly as a case study in human greed and stupidity.

    I have worked in the online industry for 13 years and hold a degree in multimedia communication. My company builds sites on a daily basis, and I have worked in most fields in the industry, I have a keen interest in start-ups, start-up business models, start-up finance, and I myself have created and sold a successful dot-com. I say this not to big myself up, just to show I know what I’m talking about.

    I first heard of BB when a distant family brother in-law asked me for my opinion, in a thinly veiled attempt to hook me in. In the form of ‘I’ve earned x amount, but can it last – what’s your opinion?’. After 10 minutes of watching the promo video and a little research, I could see it’s a ponzi from a country mile away.

    To those who are defending BB, or who are burying their head in the sand, forget the (many) other red flags for the moment, such as the missing ads, missing publishers, dubious histories of the founders, payment issues, just ask yourself a couple of questions about the business model:

    1) Where is the ‘value-add’ of the affiliates. What purpose do you play? Ecommerce stores bring together buyers and sellers. Blog writers publish content for consumption. Standard company websites attract customers and provide support. What do BB affiliates bring to the table apart from their money and more affiliates? As others have pointed out – why would BB share this great opportunity? If the BB founders identified a gap in the market to sell advertisers advertising space at a profit, that would be fair enough. If they wanted to grow they would take VC money and be preparing for a multi-million dollar IPO right about now. Why then instead do they spend all their time recruiting affiliates instead of growing their business – what do affiliates bring to the table? Certainly not paying advertisers. All affiliates bring are money, and more suckers, who in turn bring money, and more suckers. Think of it as a collective bank balance. If all of these affiliates were taking money OUT of the business – why would BB founders focus on them, and not the advertisers who would bring money IN? The answer, is of course because even though SOME affiliates take money out, they are collectively bringing more money IN than goes out to them.

    2) If Warren Buffet, one of the richest men and most successful business men in the world has averaged 20% annual growth in his investment company for the past 40 years, how on earth could BB offer the opportunity to double your money, to the whole army of affiliates? For doing nothing? Deluded. Fools.

    I’ve seen many proponents of BB say that the doubtors don’t understand the BB business model, when the irony is that the purpose of the opaque, buzzword-laden business model, is to ensure you, the affiliates don’t fully understand it.

    @miky, @andrew, @claudia, @adam would you walk down the street and mug an old lady? As long as you’re in profit, right? That’s exactly what you’re doing to someone out there, but it’s hidden by the BB smoke and mirrors.

    Of course some people make money in ponzi schemes, but more people lose money, in the end. So you cover your investment. Good for you. What about your friends you recruit, or their family who they in turn recruit. You okay with them losing their money? What about the old lady who invests her savings in ‘a sure thing’, or the guy in india who invests his modest family savings. Snooze you lose right?

    If the authorities don’t catch up with you, I’m pretty sure karma will do.

  • Finch

    Bystander – Great points. Good luck getting answers to them!

  • Marky

    well done Finch, particularly interesting about the tax!

    I am concerned as family are involved in BB and have ‘invested’ in it.

    If you know anyone who has been actually defrauded of their money, please do get them to call the action fraud line on 0300 123 2040, I called as I was worried, as I am not a victim they can’t do anything, please encourage burned brokers to call!

    its the only way to shut this Ponzi scheme down, then all the affiliates will know in the future what a Ponzi scheme looks like!

  • Della Cate

    Adam and Just another reader – please, give it a rest!

    I have been posting on Finch’s site for about 3 months now and he has never, ever, tried to sell me a thing. Nor has he tried to lure me into some system of his own.

    All I can see is information about BB, and that’s all I am interested in. That’s what he is providing. That’s what I was looking for when I came here. I speak as I find, and I’ve found Finch’s site to be honest and straightforward.

    Which is more than can be said about some schemes out there, eh?

  • http://wiltshireaccountants.co.uk/ Phil Hendy

    Bystander, that is some great points. Particularly the one about value add. When I initially invested in BB I joined on the basis of an advertising platform for my business. It soon became clear what the true nature of it was and that it is a ‘money cycler’

    ** I can also confirm Finch has never tried to sell me anything either!

  • BBVoyuer

    Finch, email me privately. I think I could provide you with BB info including some on Mr Stern.

  • Jane

    Banner Brokers has been running 2 years so it can’t be a SCAM lol

    Are people so thick out there?

    Zeek Rewards was running for 18 months ( 2 years) if you count the trial run before it went live to the masses.

    Just because Banners has paid out to some people and been going 2 years doesn’t mean it isn’t a PONZI SCAM lol

  • Harold Bletchley

    Hello Finch. Very much enjoying your coverage of this topic.

    Having looked into BB fairly extensively, I have concluded that the way they present themselves is a little unclear. It’s hard to discern from their promotional materials exactly what it is all about.

    Therefore I took the liberty of mocking up my own suggested promotional imagery for BB. I feel it gives an accurate representation of the investment opportunities available.

    http://www.anony.ws/19N

  • Finch

    ^ A true work of art!

    Where can I buy the print version?!

  • Della Cate

    Harold B – that’s great, love it!

    Cheers, Della.

  • raja bilal

    thanks for all your hard work Finch, God bless you
    can we do anything in the uk to bring this ponzi down and get those people responsible locked up

  • raja bilal

    i have made a withdrawal recently and it shows TBD instead of a due date, so i decided to contact BB support, they told me it means ‘to be determined’ and that they havent determined a payment date yet, what a load of rubbish

  • http://www.with-heart-against-fgm.com/ Isabel Henriques

    Hello Mr. Finch,

    is it possible to call you on the phone? Here in Germany we are having a very big discussion on Bannersbroker. Now one affiliated from BB is saying that you are flying to Canada at the costs of Bannersbroker, and that you have become a partner, after Bannersbroker introduced what she calls a ‘Variant’. Simply a ‘Variant’, so I don’t even understand what she means with that.

    My Telephone number is 004923133035453. When you call, I can call you immediately back, as I can call free of charge all over Europe, provided that you have a home phone.

    Dear Mr. Finch, if you like you can write your own experience or/and the latest with BB and/or late developments under this article written by Mr. Michael Zachrau.

    http://www.ant-marketing.org/2012/12/15/ist-bannersbroker-eine-schwindelfirma/

    In this article he is trying to warn the people against BB. At the very bottom of the page, you can read the comment of someone with the name Gina Le. There she is saying what I wrote above. She also wrote that it was only self-evident why Terry Stern avoided some of your questions. He would not be a fool to reveal the secrets of BB. When you write your comment, I or Mr. Zachrau will translate it to German.

    I would appreciate very much if you join the discussion. Bannersbroker is now trying to expand in Germany, Austria and Switzerland. According to another friend of mine, who is an expert in Network, 10 000 people are already affected only in Germany.

    For my part, I was approached by a friend who tried to convince me to join this ‘thing’. After I did a bit of research I knew straightway that this was a scam and I tried to warn him. He ended our friendship.

    I hope to hear from you soon,

    Yours sincerely,

    Isabel Henriques

  • Finch

    Hi Isabel,

    Thanks for getting in touch, and particularly to notify me of these claims.

    They are false. There isn’t an ounce of truth to them.

    1. BannersBroker did offer to fly me out to Canada to view their HQ. I agreed to visit in late March, insisting that all expenses be covered by myself.

    This is even evident in the original post, where I disclose the nature of the visit:

    “It’s a generous invitation, and one that I plan to accept, although I will be paying for the tickets and hotel out of my own pocket.”

    2. I am not a partner of BannersBroker. I have never been a partner. Terry Stern has confirmed on this blog that I have no account registered with the company.

    3. It’s worth noting that David Hooker has been spreading a lie at public seminars where he has been telling people that my ‘wife’ is a BannersBroker affiliate, and that I am pocketing money behind the scenes while using my blog to drive traffic (to what, I do not know…).

    This is false, and I have tasked my own legal team with taking action against Hooker in due course.

    To put it simply…

    Any suggestion that I have ANYTHING to do with BannersBroker is false.

    If you need to reach me, the easiest way is by email: finch@finchsells.com

    I will paste this comment in response to Gina, too.

    Thanks

  • http://bannersbroker.com/goldenboy Garel

    Why Dont you give it up already?? How many times do you need to be proven wrong about Banners Broker? Its here to stay! Get over it. I have been in Banners Broker for almost 3 years now and it has changed my life. Stop hating and start congratulating. They do what they have to do to remain compliant and to shut people like you up. Long Live Banners Broker.

  • BBinsider

    Why do you feel the need to post Garel? Why are you so negative about people? You need to broaden your horizons, think outside the box.

    By the way, over 3 months and still no payment.

  • Irene Tsotopoulos

    I joined BB on 7/17/12 and as of today 3/17/12, I have not received a penny from the company. On December 25th, 2012 I placed my 1st bank withdrawal for $500 dollars which as of today I have not received.
    On February 7th and every week since then I have spoken to Felix, Leann and Jae their supervisor and every time I have been told that my case has been escalated and to be patient and that there is nothing more they can do for me .

    Since then both me and my cousin who I brought into BB have placed other withdrawals and still nothing has been paid out even though numerous tickets and several phone calls have been made.

    At this point to me this is starting to look more and more like a Ponzi scheme.

  • Nick

    @Irene – Starting to look like a Ponzi? It IS a Ponzi!

  • Adolf

    Mr Finch I THINK YOU DREAM ABOUT BANNERSBROKER YOUR FULL LIFE IS BANNERSBROKER. CLOSE YOUR WEBSITE AND RELAX TAKE MORE CARE TO YOUR WIFE AND KIDS, SOON ARE LATE YOU WILL HAVE A DIVORCE!

    YOU WILL NEVER WIN!

  • BBinsider

    Whats your point Adolf?

  • Mike

    This strikes as utter madness.

    That aside will be creating a site where you watch or click on some coloured panels and can see virtual money. Have you guys never heard of video games. Will all be free, no affiliates. Best of all is never any money invested. Virtual money along the lines of BB.

  • John Harris

    Been surfing the BB groups on facebook here. Wow everything has gone so so quiet. The “scientologists” oh i mean the true BB believers have gone underground. The saying goes “The Truth Is Bitter When It Is Told”. I have to report that i have had a long time friend over 20 years now and after that 20 year friendship BB has come between us and i have witnessed first hand the smart comments he would post about me if i evan made one little comment about BB. This is where the fall out starts and reality kicks in. I talk solace in the fact that i had the will power not to invite my family or friends into BB and not to be brainwashed by my friend. I know i am one of the lucky ones though. I know families will be split over this, relationships will suffer and trust which might of been once between two good friends is now well gone…… I am not a revengeful person nor would i take satisfaction in seeing someone who publicly humiliated me on facebook fall flat on his face and see him explain to his family and friends that he lost ALL there money. (I Will Have A Quiet Smile Though)…. My thoughts go out to all the nice people, the normal people, the friendly & trusting people who are about to be let down with a big big bang. Do not be angry with yourself, do not fight amongst yourselves. Just put it down to one very bad learning curve in life and pick yourself and move on. For the Bosses of BB, well do not be expecting sun and beaches, Big brother (the police) has been watching you carefully for a long time now quietly building up evidence and your time will come to you to. Shame on you. … Finch, thank you for all the time and effort you have put into helping people try to understand what is going on and thank you for all the sacrifices you have made also, i know it has not been easy.. .. .. My feeling is that a major case by numerous countries via interpol or others is well under way and a strike against BB and all its major players will take place as soon as needed evidence is gathered. It is the SCAM of the century and for anyone to believe that big brother is not watching and especially not doing anything well lets just say that person is a very naive person indeed… Thank you Finch.

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