There are now a lot of websites that are offering investment programs that promise regular high returns on your investment.
These companies claim to earn massive profits and they want to share that profit with people who are looking to get high ROI for their money.
Unfortunately, a lot of these websites that offer investment opportunities turn out to be just huge scams that will run away with your hard earned money.
Finding a legitimate website that won’t steal your money is hard to find. Richmond Berks is one such website that claims to be a legitimate site that offers investment programs.
The company promises daily returns for your money and you will continue to earn as long as you keep it invested. But is this really a legitimate company that offers an investment opportunity or is it just another scam like the others?
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Richmond Berks is a Scam that You Should Stay Away From
Richmond Berks claims to be a real estate investment company that buys properties at auction and sells them for a big profit. The site also claims that they are owned by John Richmond and Klint Berks.
It was stated that the two of them met at an auction while trying to fight over the same property and that incident has led them to start working together. Richmond Berks is one of the companies they founded.
Since these two investors are earning big profits, they want to help people make money as well by partaking in their investment activities.
They promise to provide daily returns of 1.4% for the money you invest and you can keep on earning as long as you keep your money invested.
The company promises that you can earn daily interest rates for life (or at least until the company exists and operates). Sounds like a really good investment opportunity right? Unfortunately for you, this is all a big scam.
Everything that the company claims is all a lie, as they are not really a real estate investment company and their two owners are likely to be fake as well.
The company has also been proven to be a Ponzi scheme, which means the money they are paying out is coming from new money coming in.
The website is actually down, but the company claims it is because of hackers. They now use a new website richmondberksltd.com for new victims.
As we progress further in this review, I’ll be discussing in more detail how Richmond Berks is a scam and why you should stay away from it.
Who Uses the Richmond Berks Website?
The Richmond Berks website is designed for people who are looking for investments that can provide them with good returns.
The site claims to be a real estate investment company that purchases low-cost properties being sold during auctions. Then they sell that property for a nice profit.
As one of their investors, you will be promised a daily ROI of 1.4% for life. This means your money can continue to earn as long as you keep it invested in the company.
You can make withdrawals anytime, but the company will keep 50% of each withdrawal request. But as stated above, you won’t really be making any money with this site.
It is proven to be a Ponzi scheme, only paying its members at first and if the withdrawal is small. Then they will stop paying after a while. In the next section, I’ll be discussing in detail why the company is considered a scam.
How Do You Earn with Richmond Berks and Why it is a Scam?
Before we discuss the reasons why Richmond Berks is a scam, let us first briefly look at the compensation plans that they are offering.
As mentioned above, the company offers investment programs that will allow you to earn 1.4% return-on-investment daily.
Now, to participate in their investment program, you would need to purchase the Richmond Berks Dollar (RBD). It’s the internal currency that the company uses.
The company offers a daily ROI of 1.4% on these RBD (0.7% during weekends) for life, which means you will earn interest on your money as long as you keep it invested in the company.
The company also offers bonus points of 0.05% daily ROI for completing certain activities. If you are able to refer people to join, you will also earn a 10% bonus for personally sponsored downlines.
You get 5% for those referred by your referrals. The minimum investment you can put in is $10. As for withdrawal, you can withdraw anytime but the company will keep 50% of what you withdrew.
This means that if you withdraw $100, they will only give you $50. The compensation plan is easy and simple enough to understand, but as I said, it is all a big scam.
The first reason that it is a scam is that there is very little information about the two owners, John Richmond and Klint Berks. It’s hard to find info about them, even if you search online.
Another reason is that the company’s claim that they are investing in real estate is all bogus, as the company is not really a licensed real estate developer.
Their registration for a business license does not mean they are legit since that is very easy to do. Almost anyone can register a business, even if they don’t really have one to show for it.
Also, if you look at the properties they post in their site as the properties they have bought and sold, a little research will show that some these properties are actually known, and there’s no mention of Richmond Baker as the owner.
Lastly, legitimate investment programs don’t guarantee returns on investment, especially ones that are very high. The 1.4% (0.7% on weekend) daily ROI will amount to an ROI of 36.4% monthly.
That gives an ROI of more than 300% per year. No legitimate investment program, whether it is the stock market, business, or real estate will boast that kind of ROI.
This is because there’s really no guarantee that these kind of returns can be achieved. This is why investment programs and business always provide modest returns on investment.
They don’t want to give false hope to the investors then fail to deliver it at the end, and it’s also against regulations. This shows that Richmond Berks is actually a Ponzi scheme that will only pay at the start.
But they won’t pay big amounts of money, you can only expect to be able to withdraw small amounts. The company knows that people will likely invest little first to test out the program.
Once they are able to earn and withdraw their money, that’s when they will decide to invest big amounts of money and that is also the time the company will stop paying.
Speaking of Richmond Berks, their website has already stopped working, though they are claiming it’s because of hackers.
They now operate on the website richmondberksltd.com, where they will pay investors and allow new victims to register.
What is Good about Richmond Berks
Now that we know more about Richmond Berks and what they offer, it is time to discuss if there’s something good about this opportunity.
- Unfortunately, there is really nothing good to say about Richmond Berks, as the company is really just out to scam people out of their hard earned money and even their personal information.
What is Bad about Richmond Berks
There are a lot of bad things about Richmond Berks, but I’ll just focus on the important things you will need to know.
- The first issue with Richmond Berks is that it is a scam. No matter how good their compensation plan is, how easy it is to earn money, the fact is, you will never really earn here. Yes, they will likely pay you at first, but that is only to lure you in so will invest more money. Once you’ve invested a lot, the company will stop paying you.
- Another issue I have with Richmond Berks is that they are still trying to brand themselves as a legitimate site. Their original site shutting down is not enough to derail the owners of the site, as they have created another website to try and lure more people into the company. The owners must be really greedy for money.
- It’s bad enough that you will be wasting time here and losing money, but it’s even worse that you can also be in danger of having your personal information stolen and your financial information hacked.
Do I Recommend Richmond Berks?
Of course, the answer to this is no, as not only will you be wasting your time and money here, but you will also be in danger of being hacked.
The company has already been proven not to pay its investors, especially the old members and those who invested big money.
So expecting anything from them after joining is just wishful thinking. Plus, there have been some reports of people getting hacked after joining Richmond Berks.
Now, there is no indication yet that the company is also responsible for that, but it won’t be much of a surprise if they are. You are better off looking for different opportunities to earn money.