Inetglobal Scam

Update 5th May 2010

Steve Renner got sentenced to 18 months in prison because of tax evasion more information: click here.

Other investigations regarding running a possible Ponzi / Pyramid scheme, suspicion of money laundry etc are ongoing.

Update 23rd February 2010

This was just published by the Startribune: “Secret Service agents removed evidence from a Minneapolis business owned by local musician Steve Renner Tuesday morning in what authorities are calling a suspected Ponzi scheme. The offices of Inter-Mark Corp divisions iNetGlobal, V-Local and V-Webs at 250 2nd Av. S. in downtown Minneapolis were raided.” Read the full article here: http://www.startribune.com/local/85054067.html

Original blog post from 3rd September 2009:

For the superficial readers: Yes, Inetglobal is a scam and a really bad one. Stay away from them and save your money! For the ones that want to have some more background information, here you go:

As I surfed today around the blogosphere (a lot of my posts start lately like this ) I came across a blog comment with a “last blog post” headline reading “Make $$,$$$ Per Month”. The blog itself was called something ridiculous like “I want to become a billionaire in less than 5 years.” OK, OK, I hear you saying, why did I even waste time to look closer at something that is so obviously spammy? Very easy, I am naturally curious So, I took a closer look and found out how it works.

BTW, the system described is not restricted to Inetglobal, the same system to scam people is used by many other web sites. It is also known as a Ponzi scam or pyramid scheme. The sales pitch goes like this:

• You sign up for a free account. (That is the only free thing in the whole process!)

• You spend 8 minutes a day to earn a six figure income by looking at 24 websites a day for 20 seconds each, for a total of 8 minutes a day. (That is a the scam part)

The reality / scam goes like this:

• You sign up for a free account.

• You buy a “Consultant Kit” for “only” $59.95.

• You buy an advertising package for hundreds, up to thousands, of dollars which “allows you” to upload your own site into the system.

• You start to look at / surf web sites, for this “looking at / surfing of web sites” you get paid.

• You refer others to do the same and get a share of what they pay to Inetglobal. That is where the pyramid scheme becomes really obvious.

Do you see it now? It is nothing else then a Ponzi or pyramid scheme. Inetglobal, and similar web sites, make money only by selling their kits and packages, NOT by selling advertising. You only earn, if you ever get paid, if enough people after you buy into the scam.

Be also aware that your account will be set to a “daily re-purchase”, means your credit card will get continuously charged and drained until you are in deep debts.

See it from the other side, the site of a potential advertiser. If you would want to advertise your web site, would you choose a service that pays people just to stare at your web site? What would be the benefit for you, the web site owner? Empty, non-buying traffic and a huge waste of money and a lesser waste of bandwidth.

The only way to actually make money from this program, if you ever get to cash it out, is to sell it on to your family, friends and blog readers. But who would do that? Would you really try to convince people to buy into something what you know to be a scam just to make a buck or two?

And the biggest joke to close up this blog post about the Inetglobal scam, they don’t allow other Ponzi Scheme, and similar, being uploaded to their advertising program. Seems they are afraid of the competition! Directly from their TOS:

Prohibited Sites include:
* Illegal business schemes
* Get Rich Quick
* Ponzi Scheme
* Pay To Surf
* Scam Sites

I would LMAO if it wouldn’t be so sad! Please save your money and stay far, far away from the Inetglobal scam and similar sites.