Just because they paid you does not make them legit. They're probably just a ponzi.
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Just because they paid you does not make them legit. They're probably just a ponzi.
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Q: Do I have to maintain a certain balance in my account in order to remain active?
A: All members must maintain a balance of $150 in their account. Of course you can cancel your account at any time and you will receive your entire balance.

By the way, I don't think that this program was suppose to be mentioned here.  I discovered this program a few days ago and when I contacted the admin about putting the program on forums they said that they do not want the program listed on any forums.
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Hi Folks,  I have read the posts about this incredible business.  I just joined but I am unclear of how exactly the money is made.  Would somebody be kind enough to explain it?  Also what would be my next step to getting started?

Respectfully,
Drummer :
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Q: How are you able to pay such high interest rates?
A: We have developed a very sophisticated investment system that utilizes a proprietary software program which allows us to take advantage of a little known investment strategy known as Sports Arbitrage Trading. We make hundreds of small trades each month which yield somewhere between 1.5% and 10%. These are all short term trades that return a guaranteed profit within 2 or 3 days. This allows us to continually "roll over" our funds every few days.

Q: Exactly what is Arbitrage trading?
A: Arbitrage is a trading technique whereby exactly offsetting positions are taken in a market simultaneously but at different prices. The difference in price represents an immediate risk-free profit that is independent of the subsequent movement in price of the instruments traded.
Although Sports Arbitrage trading involves wagering on various sporting events, it SHOULD NOT be confused with gambling. Gambling carries a risk! With Sports Arbitrage Trading there is NO RISK because the amount of profit is determined BEFORE the trade is entered into. It is impossible to lose money.
Here's a brief description of how Sports Arbitrage trading works.

There are currently thousands of online wagering sites. There are also an estimated 500,000,000 sports wagers made with these sites ever single day! This high volume creates competition among these sites. Consequently, different sites sometimes offer slightly different odds on the same sporting event. In some cases they actually offer substantially different odds. The difference in the odds determines the amount of risk free profit to be made by the Sports Arbitrage Trader.

Example:
Below are bookmakers odds for an NBA game between Miami and Phoenix
We wager $500 on Miami with betting site A at odds of 1/1.
We wager $400 on Phoenix with betting site B at odds of 6/4.
The total amount traded is $500 + $400 or $900 total.
If Miami wins we receive $1,000 from bookmaker A (our $500 wager plus a profit of $500). If Phoenix wins we receive $1,000 from bookmaker B (our $400 wager plus a profit of $600). So the profit, no matter who wins, is $100 ($1000 - $900). We make hundreds of trades like this each month that all yield between 1.5% and 10% profit.

Q: This sounds too good to be true. Is Arbitrage trading legal?
A: Earning from Arbitrage Trading is perfectly legal, moral and ethical!

Q: Do I have to maintain a certain balance in my account in order to remain active?
A: All members must maintain a balance of $150 in their account. Of course you can cancel your account at any time and you will receive your entire balance.

Q: How do I withdraw funds from my account?
A: You can withdraw funds at any time by logging into your back office and clicking on "Withdraw Funds". You then enter the amount you wish to withdraw and click the "Submit" button. We will then issue payment directly to your EGold account, your INTgold account or your Pay Pal account within 72 hours.

Q: Is my investment safe?
A: First of all it's important to understand that, while we are operating as an investment club, you are not purchasing stock, securities or anything that can increase or decrease in value. You do not have to worry about when to sell or when to buy. As we explained before---Sports Arbitrage trading is virtually "risk free". We "buy" AND "sell" simultaneously and we ALWAYS lock in a guaranteed profit on every trade. The amount of profit is determined BEFORE the trade is entered into. Consequently, your funds are NEVER at risk!

I got the email from TAS and yes they seem to be legit and trustworthy but these darn Goldcoder scripts always scare me.

TAS can you post an update here for everyone??
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I have been trying to withdraw money from them for over a week. They have not responded to any of my e-mails yet.
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It is really great news that team A and S has done their due diligence. Jim Wingo has proved himself.

Sierra has recently moved their business to Las Vegas to be free of restricting gambling laws. In my opinion a great move:-)

Again, the link to use is http://www.sierrainvclb.com/?ref=Guybrush83   
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What does TAS stand for?  If this is some sort of credit agency,  can you please provide a tel# or an email for them.

Thanks
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I have been trying to withdraw money from them for over a week. They have not responded to any of my e-mails yet.
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Sierra Investment Club Support request from Wednesday 05th of October 2005 01:17:37 AM

---------------------------------------------------------------
When I want to withdraw, how do I go about moving my deposit to acct. balance.

Also, what are the rules regarding this?

---------------------------------------------------------------

Click on "Your deposits" then click on the "Release" link next to your listed deposit(s).  You will then have the ability to enter an amount that you want to release.  Enter that amount and then click "Submit"

The only rule is that you must maintain a minimum balance of $150 in order to keep your account open.

Received response within 10 hrs of email:
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Why do they take $50 if minimum to be active is $150?

Student pl check and let us know how long took for the reply
to hit your mail box too,

Thank you
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ok.. this took less than 6hrs., during my sleep:

At the present time you can make a minimum deposit of $50.  In order to withdraw funds and keep your account active you must have in excess of $150 in your account.  You can then withdraw anything over $150.  Of course you can close your account and withdraw all of your funds at any time.
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Ok... I know there is more than 4 weeks per month a year. But I like my options here of access to my principal/interest anytime I want without monthly fees or long term comittment.

Here's some interresting quick figures just made:

w/ SIC:

$1500 compounded weekly @ 2% for 6 weeks = $1722.16

w/ 'other' program:

$1500 compounded weekly @ 4.5% for 6 weeks = $1953.36 - ($139/4 weeks + $69.5/ 2 weeks) = $1745.86
-----
Ok... I know there is more than 4 weeks per month a year.  But I like my options here of access to my principal/interest anytime I want without monthly fees or long term comittment.

Not bashing other program, as I am sure after 52 weeks, the amount earned is much higher.
Shoot... I gotta run
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If this is true then by all means i see your points and its valid
Just not feeling safe or secure over this one with what we have around

I or you can come up tomorrow with similar version based on the fact RFP and SBP softeare is there and offer same kind of investment program and pay 2% without even using SBP to begin with

Have you made any DD to see real trading history with these guys ?

You have a good day,we can keep on later on 
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Have you made any DD to see real trading history with these guys ?

Personally, no... However, I have trust with them since they have passed TAS new DD process.
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Hi Student

w/ SIC
$1500 compounded weekly @ 2% for 1 year (52 weeks) = $4284.50

w/ "other program"
$1500 compounded weekly @ 4.7% for 1 year (52 weeks) = $15619.78
- 12x$139 ( $1668) = $13951.78 = principle return $1500 = $15451.78
*"other program" exclude earning from matrix and software trading.

"other program" online since May 2004. Reputation we need not say
Imagine if you can withdraw anytime, people might be able to hit and run away anytime.
The reason why "other program" need to hold your money for some time is because of the nature of arbitrage Sport betting
Some Bookies hold up your fund for some period. So is that semi ponzi or?

Of cause i am bashing any program. This might just be the next long term program too. And suitable for people who cannot afford $139 for "other program"
I would say its a good alternative for some people. Great service

Hopefully you can get some nice return here
So far it looks ok to me
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Reputation we need not say

Sorry, they did not impress me one bit by bit*hing at me what they should be bitc*ing at themselves for not training sales force/ recruitors.

Keep telling me hrs., when it should've been weeks. Telling me pool is a 'bonus'

I just hope when all of you have over $10000 each in the pool, that the traders are still able to place such huge amounts with bookmakers to keep your % @ 4.7

But even with my personal dealings with them, I still think they can be a good opportunity for the majority....

Like I told you in IM...  maybe in 6 months/ yr. I'll have a couple K to tie up with them (plus be able to add monthly exspense). Just dealing with some personal issues right now.
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Interest credited and compounded. 
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Our site was down for awhile today. We were the victim of a DDoS attack which
took our port down. The good news is that we have very sophisticated software
that prevented our losing any data. We are back up and everything is running
smoothly.

Our trading is still going well. All Interest payments are being covered along
with all overhead.

IMPORTANT ANNOUNCEMENT

When we launched Sierra it was our intention to grow to about 500 members and
then close the program to new members. We are getting close to that number now
so this is our official notice that as of midnight Central time November 14th we
will not accept any new members. This will NOT affect any current members.
Current members will still be able to make new deposits and commissions WILL be
paid on these deposits. The only thing that will change is that we will not
allow any new members. Therefore any advertising that you may have in place will
need to be cancelled as of November 15th.

This action will make your Sierra membership more secure. It's a simple fact
that the bigger an online company gets the more risk there is for all members.
No matter how hard a company tries it is extremely difficult to eliminate spam
complaints, etc. This can cause a webhost to "pull the plug" on a website. By
keeping our membership at a reasonable level we can control potential problems.
If we don't allow new members then there is no reason for anyone to spam and
make outrageous claims that can get us into trouble.
I'd also like to remind everyone that all new members are required to make a
deposit of at least $50 within 30 days of signing up. Our system is now
automatically deleting all accounts that are 30 days old and have not made a
deposit. If you have noticed people missing from your list of referrals it is
because their account has been deleted.

There is still some confusion as to what our minimum deposit is. At the present
time you can make a minimum deposit of $50. Interest begins accumulating as soon
as you make the deposit. In order to withdraw funds and keep your account active
you must have in excess of $150 in your account. You can then withdraw anything
over $150. Of course you can close your account and withdraw all of your funds
at any time.

ONE MORE TIME---WHAT IS THE DIFFERENCE BETWEEN "MAKE DEPOSIT" AND "MAKE DEPOSIT
TO ACCOUNT"

We still have people clicking on "Make Deposit To Account" when they should be
clicking on "Make Deposit". Once again---If you click on "Make Deposit To
Account" your funds will go into your account balance, not your investment
account. If you have funds exceeding $50.00 in your account balance you need to
log into your account, click "Make Deposit" then select "Spend from account
balance (PayPal, INTgold or e-gold)", then enter the amount and then click
"Spend". This will transfer your funds into your investment account. Your funds
WILL NOT earn interest unless they are in your investment account. If you have
funds spread out over multiple currency accounts (a few dollars in your e-gold
account balance, a few dollars in your Pay pal account, etc.) you need to use
the "Currency exchange" function to transfer your account balance funds into one
currency Then you can transfer the funds from your account balance into your
deposit account.

If you have any questions about this please let us know. We are here to help.

Sincerely,
Jim W.
President

We have been under a DDOS attack since last night.  It appears that this has stopped but the attackers were able to modify  a piece of code that is now stopping people from accessing the site.  We're working on this problem and hope to have it fixed shortly.