There is word in the town that a certain Ponzi scheme called Pennywise Wealth Management or Pennywise Investment has eventually collapsed.
There are no information as to how much Pennywise Investment victims have lost to the scam but an analyst who is conversant with the scheme said several millions of dollars was stolen by the scammers.
Last month, we did a warning article about why Pennywise Investment is a mere Ponzi scam packaged as an investment company growing profits for its investors.
See below the warning:
Under the name Pennywise Wealth Management, Pennywise Investment is another Ponzi scam that could collapse anytime from now.
On its website ‘pennywisewealthmanagement.com’ which is a copycat of Pennywise in Australia, promoters of the scheme who are not known publicly said:
“We build Wealth through the stock market, real estates, digital market, Gold mining, investments in shares of company stock, Hard Currency exchanges, Crude Oil, Metals, Energy, Agriculture and turn this assets into cash. At Pennywise Wealth Management our experts gets into more details trading process in the open market for ready.”
Just like any Ponzi scheme is often disguised in bogus promises, the promoters went on to claim that:
“ypical investment management companies are owned by outside stockholders. These companies have to charge fees to pay their owners, which can reduce investors’ returns.
At Penny Wise there are no outside owners, and therefore, no conflicting loyalties. The company is owned by its funds, which in turn are owned by their shareholders—including you, if you’re a Penny Wise investor. Our unique client-owned structure allows us to return profits to our investors in the form of lower expenses. Low costs helps our clients keep more of their returns, which can help them earn more money over time investing with Pennywise Wealth Management.
In other words, Penny Wise is structured as a “mutual” mutual fund company. Our interests are completely aligned with those of our clients. We never have to weigh what’s best for clients against what’s best for the company, because they are one and the same.
Investors around the world can benefit from the result: stability, transparency, long-term perspective, rigorous risk management, low costs, and a bedrock commitment to their best interests. No wonder our clients have proven to be extraordinarily loyal.
We finance a broad range of investments, including securities as well as art, aircraft, sports leagues, teams and stadiums, and law firms.
Commercial Real Estate
From tailored and flexible structures to more traditional solutions, our dedicated team of experts have analyzed, underwritten, negotiated and managed real estate assets for more than 25 years. We have a lending portfolio ranging from office buildings, warehouses and distribution facilities to mixed-use, multi-family properties and retail centers.
Our portfolio includes a full range of loan structures, competitive rates and a long-term commitment to funding throughout the real-estate cycle which gives us a very high return.
Penny Wise harnesses the power industry-leading commodities platform to bring you derivative expertise, world-class financial and physical trading, and industry-leading research.
Through trading desks in Calgary, Houston, London and Singapore, We have access to round-the-clock coverage of a broad array of physical and financial commodity products.
Besides exposure to individual commodities, we also have access to a full range of commodity index products, and also a proprietary suite of indices that aim to outperform traditional commodity benchmarks. We also take advantage of Penny Wise cutting-edge execution and trading infrastructure that gives us a maximum high returns.
Carefully selected equities and equity strategies play an important part in a balanced investment portfolio, and potentially deliver enhanced investment returns and risk diversification.
Located across four continents, our equity specialists can help you access more than 90 markets around the world. Our equity specialists have access to both cash equities and derivatives, letting us implement tailored strategies through a single point of contact. As well as our market-leading execution capabilities, we are able to provide margin finance secured by our equity portfolios which gives us a very high returns.
With daily volumes worth several trillion dollars, Foreign Exchange is the largest and most liquid market in the world.
Extensive FX access
Penny Wise award-winning coverage includes local FX presence in 81 countries and also Involves pricing and trading in a wide array of currencies and precious metals. Through our desks in New York, Singapore, London, and Geneva, we access the world’s FX markets 24 hours a day. Our Specialties includes competitive pricing, sophisticated global limit order monitoring, market transparency, efficient execution and timely settlement on currencies and services.
Investing in hedge funds can offer the potential to earn attractive risk-adjusted returns —alpha— and to diversify portfolio. We understand that alpha is very hard to generate and that only a small minority of active managers are able to achieve it.
Our manager research team undertakes rigorous analysis to screen and select from the world’s leading investment managers.
Private equity is an illiquid asset class that can potentially enhance portfolio’s returns and help mitigate risks. These unique and attractive investment opportunities are often unavailable via public markets. Our Expert research team seeks to originate thematically-relevant opportunities across the private equity spectrum, including debt, equity, and structured products focused on both developed and emerging economies. An opportunistic approach to origination combined with a rigorous due diligence process underpins our goal of seeking to deliver attractive risk-adjusted higher returns for you.
Finding the most promising investment opportunities in private equity requires intensive research and due diligence. We believe this is best done by local experts in the specific market or region, rather than by distant teams and our offices are located around the world. We therefore not only exploit investment opportunities that are unavailable in the public markets, but also access them via a wide range of options, many of which are unique to Pennywise Wealth Management.
Navigating a universe of around a hundred thousand investment products requires significant time and expertise. Our expert research team identifies third-party managers whom they believe are likely to achieve the highest relative risk-adjusted returns over a whole market cycle.
While we are not investment advisors, there are basic requirements you must see before entrusting your monies with any company. Pennywise Investment is not just fake but a Ponzi scam. This is because they are not registered as either an asset management company or securities broker by the Securities and exchange commission.
On scam adviser, a website used to review the genuineness of websites offering financial products, Pennywise Investment is already being called as a scam.
A review conversation with two visitors goes thus:
Julius Solomon complained that “pennywise is not legit, founder’s can’t be contacted, they don’t have traceable admin yet they claimed to help people invest and they promise 2% return per day.”
Albert Kwame Akable: You are right my brother… They will be paying in the beginning of their business, they have calculated steps and if they get their target, the site will go off and the new people who invested will be in total loss. They don’t usually show their true identity. After they are gone, they will repackage themselves as a different company and repeat the same plan .so BEWARE!,” he said.
In the last four years, we have written several articles and reviews to educate our readers and the public in general on the dangers of investing their monies with these types of scams.