GNI will pay refunds between May 15th and June 15th

Topics to be Addressed:

1. Refund Status and Tentative Repayment Date

2. Refunds for the Deposit Repurchase Program

3. The "New" GNI

4. Smear Campaign

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Greetings to all GNI Friends:

1. Refund Status and Tentative Repayment Date

We have received quite a few applications for refunds; over 1700 to date and this campaign has just begun. This is a HUGE effort requiring a very specific skill set, fair review of all applications and most of all consistency from one Refund Application to the next. Therefore Todd and Debbie will be those GNI people working diligently to get these done in a fashion described above.

To ensure fairness amongst all of our customers, an appropriate amount of time to procure the necessary funds and to take some of the pressure off of these two, I have decided that all claimants will be paid their due refund within a very few days. This should take place between May 15th and June 15th; perhaps sooner, depends on how quickly they are able to process these refunds.

This is not to avoid paying owed refunds, it is to ensure fairness to those who are owed funds, it is to ensure we have adequate time to obtain the funds while subscribing to the notion of fairness to our traders and bookies. We ARE NOT going to RUN!!!

During this process, I have asked Todd to provide to me a weekly status report which will be in my in-box on Monday morning (GMT). In this report will be:

A. The number of Refund Requests Made to Date (number of Tickets)
B. The number of Refund Requests Completed and Ready for Payment (within + or - 10% of claimants expected amount)
C, The number of Refund Requests Completed but not Ready for Payment (outside of the 10% parameters)
D. The number of New Refund Requests not previously received from the week before< br>E. Anything else worthy of reporting

If it appears that our self-imposed deadline will be missed, appropriate action will be taken in a timely manner to reduce the probability of any delays.

PLEASE NOTE: Refunds requests need to be posted in a support ticket at http://gniforum.com/gnirefund/ ONLY. Refund requests send to ANY of the know email addresses can not be honored and will be deleted upon receiving.

2. Refunds for the Deposit Repurchase Program

Refunds for those who submitted funds for the purchase of other member's deposits will be refunded by weeks end. If you have not received your refund by Friday afternoon close of business (COB - GMT), please send me an email (goldnuggetinvest@gmail.com). Please be very specific when making this request; should include ALL transaction information, the deposit information of the GNI User which you were preparing to purchase and any other relevant information you feel wi ll help facilitate my issuing of your refund. Your assistance helping me with this It would really be appreciated.

3. The 'New' GNI

I am continuing putting together the New GNI, while remaining cognizant of the refund program. As you know, we cannot combine the two programs. We must, however, keep our traders busy or we jeopardize giving up their unused capacity to other Arbitrage Programs. More on this shortly.

4. Cyber-Smear Campaign

It has come to my attention that a comprehensive smear campaign has been launched against GNI, targeting Todd for he chose not to disguise his personal details. Much of the past 11 years of his on-line history is now an open book. Needless to say, none of it is presented in a positive fashion. He is receiving a constant barrage of life-threatening, evil, disgusting emails involving bodily functions and other horrendous acts.

These threats have resulted from the current state of a ffairs of GNI.

I am here to support and affirm some very important facts, concerning Todd and his role in GNI.

First, was Todd a member? Yes, of course he was; one of our very first. Several months ago, before our troubles, he sold his membership back to the company for a bit less than 33cents on the dollar.

The reason for this was to avoid any potential for a conflict of interest. He could not, nor could I rely on his objectivity so long as he had funds in the program

Second, did Todd receive referral commissions? Yes, for certain, until the end of Spring last year. He also offered to split the commission with his down-line, 1/2 back to the purchaser, the other to charity (on the larger amounts). None of which he was asked to do nor am I aware of any other offers made by any of our up-line referrers.

In the beginning of summer his referral base was starting to grow. It was obvious, many subscribed under him hoping to receive preferential t reatment, which is not an unreasonable expectation, but not in the best interest of the program nor the non-referral customer base. Todd asked, and received my authority to split his commission amongst the staff members of GNI. He was permitted to place his user id for new members coming into the program without a sponsor, as the up-line referrer. In a couple instances, the member did not want any sponsor receiving commission. In this case, Todd removed his user ID and the commission restored to the general fund. This was a great motivating tool and cost the members and the principals zero.

In this on-going smear campaign it is alleged Todd has stolen funds from the members for his own benefit.

I am here to proclaim, Todd does not now, nor has he ever had access to GNI Payment Processor accounts (PP), E-Currency, Bank Wire, Bank, Deposit, Receipts or Withdraws of Members, Trader, Principal or anyone's funds other than his own. Even if Todd wanted to, he couldn' t gain access to any funds that were not otherwise his and his alone.

Unfortunately, the same cannot be said of far too many of our trusted members who engaged in serious referral abuse or other fraudsters which continue to 'hang around' the GNI site, waiting to steal money, resources and most of all steal the energy out of someone so important to the success of the program.

Todd has been an asset to this program and to all of our member base as well as to me and the principals of GNI.

Those of you intending to hurt Todd, consider yourselves having been successful. Records on the internet become permanent. You have placed him in danger without knowing the facts!

Thank you,
Robert