The following has been posted on the Sprts Arbitrage Union website: http://www.arbitrageunion.blogspot.com/ This below from someone called 'Mark' has confirmed this website as a scam. He attempts to make iut appear as though it wasn't the case, but I suggest it is because people have complained to the funding source - namely being Moneybookers. Don't you love the sob story - but do not fall for it. If you have accounts suspended, it will be AFTER you have had a win and you will be paid out - you can take the bookmaker to the arbitration commission. All the bookmaker can do is close your account down. They make out there is no money left which is rubbish and someone should find this person and have him prosecuted. At least this SCAM - and repeat it was a SCAM, has been pressured into closing. Be very aware of it in the future, and someone posting on sites like this for similar HYIP vehicles. Thursday, October 11, 2007 Attention to all Investorslease read Dear Investors, Its with much sadness that we have decided to close sports arbitrage Union with effect as from today. Last week has been terrible in the bussiness front as we made considerable losses. Sports Arbitrage Union was making a great investment partnership until we started experiencing various problems. Sports Arbitrage Union would like to point that we valued our investors money and at no time tried to scam them.We maintained a good relationship with our investors and shared regular profit.As people may think that we stole all investment and disapeared but this we assure you is not the case we tried our level best to revive Sports Arbitrage Union at that point of time. Why we should run away with our investors money in just one month of our existence and when we were making consistent profit? Firstly on the 1st of October our Moneybookers account was suspended without any prior notice and we deliberately tried to solve this but in vain. Secondly We experienced problems with e-gold when our account with considerable funds was blocked and at a later stage when we managed to cash out the blocked account e-gold we were hacked and all our e-gold stolen. Thirdly and to make matter worse our sports betting account at 10bet where we had significant money got suspended without prior notice. Fourthly we were unable to access our email as somebody deliberately changed our password and we had no access with arbitrageunion@gmail.com . Yesterday on the 10th of October we came accross a good sports arbitrage opportunity allowing a profit of over 9.00%.We injected around $4500 from our side in a move to revive Sports Arbitrage Union and this was the very end.We managed to withdraw this investment to a moneybookers account only to know that this account got suspended later on. We phoned Moneybookers for clarifications and they quoted that our activities do not abide by their rules and regulation and they had no option but to suspend our account. Sports Arbitrage Union tried its level best to make things work and to revive this investment opportunity. We again assured our investors that we did not scam them at anytime during our business partnership. We regret to have failed in our objective and apologises to our investors sincerely. Sports Arbitrage Union is officially closed as from today 11th 0ctober 2007 . We paid the price for honesty. Regards, Mark Sports Arbitrage Union sportsarbitrageunion@gmail.com Posted by arbitrageunion at 5:17 AM
Entirely Expected. I've written an article on 'Investment Funds' which I really think needs to be read by everyone who ever considers handing their money over to anyone who advertises this sort of deal: Investing in a Sports Arbitrage ‘Investment Fund’ – Some Advice I have never found an arbitrage trading 'pool' or 'investment fund' to ever actually do what it promise yet. That alone should be warning enough.