From admin 2-22-2010 Pursuant to regulator's
request, we have temporarily stopped accepting new account
registrations from the Canadian province of British Columbia while we attempt to register with SEC there.
Existing account holders, residents of other Canadian provinces and investors from other countries are not affected
by this measure.
They say they ARE licensed in Cyprus. If you would
like a copy of that license, email
and I will send you a pdf file of that license that Genius claims is
valid. However, Cypress Govt says that's not true. Go to here
for the story.
12-26-2009 update from Genius
I have been following this program
for some time also. All participants I keep querying are happy and getting paid.
Genius Funds manages two variable rate investment funds EMGF and WBMF and one fixed rate fund, the HYDA.
Those funds are investing mainly in equities and bonds, focusing on emerging economies. Investment products are
offered that provide flexibility, keeping pace with the individual demands of the investors. Profits can be withdrawn any time.
180 day hold on principle
|Emerging Markets Growth Fund||EMGF||1.0% - 1.9%, Daily payments|
|World Bond Market Fund||WBMF||6.0% - 9.0%, Weekly payments|
Specific payout examples: daily as of 8-29-2009 and weekly as of 8-24-2009
A - Common shares $10 USD/share (less than 50 shares)
B - Preferred shares $500 USD/share (50 to 500 shares)
C - Premium shares $5000 USD/share (over 500 shares)
¹ daily payout as of 29/08/2009
² weekly payout as of 24/08/2009
A Third Fund - fixed interest rate
Genius High Interest Depoist Account
The Genius High Yield Deposit Account, or HYDA, combines one of the highest returns in the industry with the flexibility of your local bank account.
Genius HYDA is a fixed interest deposit account. There is no term of deposit on the account, which means that you can withdraw funds from your account at any time. The interest is payable daily. A ten-day notice must be given prior to withdrawal from Genius HYDA.
There is a past performance link on the site to see what each fund has done in the past.
First you have to fund your account. Click on deposit funds and choose
Solid Trust Pay
or Bank Transfer
Then click on purchase shares and decide where to put your money of the three funds offered. You can choose the fixed plan if you have $300 or more to fund. Or if you are in the $10-$500 range you can choose the variable common shares plan, either daily or weekly. $500-$5k gets you into the preferred plan and over $5k gets you into the premium shares plan at the highest interest rate.
Shares cannot be sold within the first 150 days of purchase
update from Genius
In an effort to improve our customer service performance, we are glad to announce the introduction of our direct bank transfer collection service.
In case you wish to fund your account using bank transfer, you may do so at any time by initiating a direct bank transfer using the below bank details:
SWIFT Code (BIC): BKNZNZ22
Beneficiary Bank Name: Bank of New Zealand
Beneficiary Bank Address: 80 Queen St, Auckland, New Zealand
Beneficiary Account Number: F674382-0000
Beneficiary Name: Technocash Pty Ltd
Payment reference or Purpose of payment (REQUIRED): 73G7KN plus YOUR GENIUS FUNDS ACCOUNT NUMBER
The minimum amount of transfer is US$ 500.
Once the payment is made, you are advised to notify us by e-mailing its details to email@example.com. There are no commissions or charges associated with this service. No additional documents need to be provided to us.
It is imperative that you include a correct payment reference with your wire transfer instructions. In case you do not, we will have trouble locating your wire and this could cause serious delays. The Reference should include both '73G7KN' and your six-digit Genius Funds account number.
If you have previously used SwapGold to transfer funds into your account with Genius, and if you feel comfortable using that option, you may continue using it to fund your account.
Cypress Govt says
Genius Funds is not licensed.
This is from the Cyprus Securities and Exchange Commission web site: The link is also in the body of the warning
The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that the company ‘GENIUS INVESTMENTS (CYPRUS) LTD’:
Is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
It has never been authorized by the Commission.
Ιt is not a bank or a cooperative firm, established in the Republic and authorised to provide such services.
No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the abovementioned Law.
Is not regulated by the Commission and the authorisation with the number CIF 087/07, which the abovementioned company is alleged that it possesses, is fake.
The Commission urges investors, before conducting business with Investment Firms, to consult its Web Site ( http://www.cysec.gov.cy/default_en.aspx ) to confirm the entities that are authorised to provide investment services in the Republic.
Finally, the Commission informs the investors that the ‘Genius Funds’ are not also regulated by it.
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