Global Providential Prosperity

This company claims to offer an investment opportunity through membership in a private club. Membership fees are $1,500 annually and $750 bi-annually. Annual membership claims to ensure the member a return of $60,000 at the end of a 12 month period. The Bi-annual membership claims to ensure the member $12,000 at the end of a six month period. According to company literature, the returns are based on profits from short-term joint venture investments. The company's literature advises perspective members that any contact with Government Regulatory Agencies or the Federal Reserve Board concerning their activities will be met with adamant denial and could be cause for termination of membership. We believe this warning in itself should provide sufficient cause tip off perspective members that the offer may be legally questionable. The company also offers refferal incentives bonuses of $300 per referral to members. This may a violation of Penal Code Section 327 of the California Codes relating to illegal pyramids. The company is new to our files. We have not had time to develop a customer experience record. To date, no customer complaints have been brought to our attention. Offers of high returns on minimal investments as described above should be considered as highly speculative and warrant careful consideration. Rather than make an immediate decision, insist on confirming details of the offer and all verbal promises in writing. Verify that the offer is registered, or exempt from such requirement, with your state securities commissioner. In California, call the Department of Corporations 213 736 2481. Limited Patnerships are required to register unless an exemption is filed with the state. General Partnerships, however, are not required to register. Those who invest in General Partnerships may also be accountable for the financial liabilities of the entire partnership.