Global Pensions Insurance Trust Assets Seized by Postal Inspector

Global Pensions Insurance Trust Assets Seized by Postal Inspector

Sooner or later it was bound to happen with these so called “Reverse Pension” plans. Millions of dollars of investors’ money is taken in, but apparently none has ever been paid out. You can read all about it in this news release.

“Federal agents seized more than $1.1 million from a self-proclaimed pastor in Norfolk who is under investigation in an international investment fraud scheme, according to court filings unsealed this week.” The Virginia Pilot

We have not mentioned GPIT by name before, because there are way too many of these reverse pensions sprouting up all over the place. While we did not write about them, we were aware that there was a connection to Global Pension Plan. According to Benjamin Seigler, the man behind GPIT, this was where the investors’ money was supposedly going to.

Global Pension Plan has denied having any connections to Benjamin Seigler and GPIT; however, it must be noted that GPP has not paid out to any of its members either. Be as it may, the domino effect has started with the fall of GPIT. Connections or no connections, GPP is mentioned by name and be assured that GPP and all other reverse pensions are on the radars of various government organizations.

There are several possible scenarios that will come out of this and none bodes well for the investors. A chain of events has now started. For fear of prosecution, the outright scams will start to close one by one citing government intervention and disappear with investors’ money.

Some will remain steadfast and continue collecting funds claiming jurisdictional protection. While this may be true, it does not mean they are not operating a scheme to defraud the international public.

There is only one way for the government agencies to back down from investigating all the reverse pension programs out there. One must pay out soon. It is a miracle that members of these programs are hoping for, but unfortunately, time now is definitely not on their side.

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4 Responses to “Global Pensions Insurance Trust Assets Seized by Postal Inspector”

1
Sandy
April 11th, 2008 20:31

The above article is mixing up truths, half truths and outright false information. GPIT is in no way related to GPP. Any investor who wanted to invest it GPP should have done a little research and they would have seen that once they had a bona fide sponsor, the method of payment was throught an online payment processor. It was not made by sending money orders to an individual through the mail. It seems from the news story, that this person never did invest those funds into GPP for the people who were sending him funds. If that is found to be factual, then he was running a scam.

RE: the RPPs. You don’t hear most folks who bought a position in these RPPS yelling and screaming “scam”. The investment is very minor for a very large payout. Everyone knows there is a risk. Many are willing to wait patiently. Some appear to be more real than others. In the next few months we will know which ones are real and which may not be. Anything can go wrong. However, some people know individuals who are involved in the admnistration of these RPPS, and they have vouched for these folks. That’s better DD than many other things on the internet. Those who are jumping to conclusions often don’t have a full understanding of what the picture is.
2
Heather Wolf
April 11th, 2008 20:59

I second that! This Ben Seigler acted as an unnecessary go-between, and aligned himself so closely with GPP that he confused everyone who listened to his “opportunity” calls. Many who emailed me for help - said that Ben insinuated that going through him was the only way to become a member of GPP.

I had confused people contacting me asking why some get their own GPP website and member back office, while others do not… etc… Whereas each and every member has direct access to their member account at all times.

Most folks, from what I understand, used him & paid an extra $10-20 per contract - in order to “avoid the hassle” of opening and funding and e-currency account. Many also, are not “into the computer”… The admin of Global Pension Plan has stated several times in the member forum that Global Pension Insurance Trust (GPIT) and Ben Seigler is not affiliated in any way with Global Pension Plan - and that he was confusing the members.

BEN/GPIT IS NOT a reverse pension group, but a slick and slimy method of acting as an unnecessary go-between sponsor. These RPP’s - the good ones - are humming away, collecting members directly from people who search for them and find them online… the admins are generally responsive to inquiry, and communicate regularly with their members. I actually found the only risk involved is at the stage that they ask for your private information. That is my only mis-giving with the RPP’s… because at that point you are sending private details to a company that you have been in communication with for at least a year or two, but who has not revealed any business, identity or contact information… still, at this stage of the process, it is a risk I chose to take.

REPEAT: Global Pension Insurance Trust and Ben Seigler is NOT a Reverse Pension Plan. He is simply “upline sponsor” with poor methods … But his activities have confused a lot of people and brought un-do attention to these RPP groups that appear to be working hard on behalf of the membership to show up with what they promise. GPP has been working away since 2005… they have over 100,000 members, they have not disappeared, they have made repairs & upgrades to their website, they give monthly updates, and I believe they have proven their identity to several governmental agencies already. If GPP is a scam, then I’m out 50-bucks. If not… well, hooray!

PS: I think the biggest hurdle for the RPP’s will be at the lending/funding end.

Let the USPS and other governmental agencies who are dealing with Ben - unravel that mess!

Heather Wolf
http://heatherwolfnetwork.com
3
John (SYF forum admin)
April 12th, 2008 02:08

Hi

I agree with the first two posts above and the person behind GPIT should never have been a go between and offered GPP incorrectly as an investment program, as it isn’t.

So I would like to add that GPP is “not” an investment program and never has been, it doesn’t promise any return or does it offer any form of securities. You pay a fee for a ‘chance’ of being paid out a large sum, much like a lottery ticket but with better odds, with some of the information I know via contacts who have links with GPP. More information on the SYF forum about how it is very possible.

So please remember that GPP is not an investment program and is offered with a small risk, but I am willing to risk $45 knowing that a very large payout is possible and that it has been done many times before by other RPPs, but very privately so you may not hear from many when GPP pays out as they’re prefer to keep private about it, so either way the authorities and naysayers are not going to really know if GPP has paid out and I doubt they are really that interested anyway.

Regards …John

“Secure Your Future” (SYF) Forum and Site Admin at http://www.future4me.com
4
Ace Baker
April 21st, 2008 09:53

To the cheerleaders above: Please show one, just one,
RPP that has ever paid out. Thanks so much. (and nice try)

What was it that P.T. Barnum said? He underestimated.

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