Wealth4AllTeam, a scheme guaranteeing daily returns, collapsed for a second time in February 2013, barely two months after its late December 2012 relaunch. The company had promised a 1.6% daily return on investments ranging from $10 to $10,000, calling itself a "total passive investment only program." This reboot followed an initial collapse in August 2012, after which Wealth4AllTeam began operating under the "Primus Hub" brand.
The company cited "low membership" as the reason for its latest shutdown. Wealth4AllTeam published a closure notice on its website last week, stating, "Effective immediately, W4A Team Marketing Association will not be accepting any new members to the W4A Marketing Association." The notice added that the decision to "temporarily stop new member subscriptions" aimed to stabilize member liability and protect deposits and earnings.
This lack of new investor money made it impossible for the scheme to pay the promised returns to existing members. Wealth4AllTeam also announced a halt to all withdrawals. "While plans are being implemented, W4A MA has stopped all withdrawals until further notice to allow external investments to produce a return," the company stated. It then promised to deposit original funds plus earnings into members' IPO W4A accounts once these external income sources stabilized.
The company then encouraged members to "check out other programs the company is participating in at present time," linking to a page with Wealth4AllTeam referral links for various affiliate and multi-level marketing opportunities. These other opportunities appear to be the "external sources" Wealth4AllTeam referenced. CEO Danny Cianciulli and his associates likely faced insufficient funds to cover ongoing ROI liabilities.
Operating a straight Ponzi scheme, which relies on new money to pay old investors, carries significant risk. Investing those funds into other unproven opportunities only compounds the danger.
The collapse of Wealth4AllTeam does not seem to have directly affected PrimusHub's operations. Its website remains active, though it now presents a simplified version. Visitors are prompted to "contact a current Primus Social Member for access."