How not to fall a victim of financial speculators in Ukraine

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The list of the organizations, addressing to which, the Ukrainian risks to be left "high and dry": the credit unions, the companies on purchases in groups, etc.

At the beginning of spring of this year in Russia the next financial pyramid failed. So-called business - "Rubin" club promised the clients of 50% per annum of profitability on deposits. By the most modest estimates, the turn of "office" made $34 million monthly. At the end of February the company stopped calculations with investors, and the management disappeared in the unknown direction, having taken with itself $85 million. Meanwhile law enforcement agencies understand a situation, about 100 thousand people (A ruby worked on the territory of all Russia) became passion victims to "easy money".

In Ukraine financial pyramids burst in more modest scales. But all - burst. "Consulting Pro-hundred-bank" made the list of the organizations, addressing to which, the Ukrainian to some probability risks to be left "high and dry". They included the credit unions (CU), the companies on purchases in groups, and also firms which don't fall under control of the state financial supervision, but attract money of Ukrainians by the principle of network marketing.

The credit unions under a sight

At once we will note, as in Ukraine, and around the world the credit unions are dear participants of the financial market. According to information for April, 2008 in the country worked 805 similar organizations which are under the supervision of the State commission of regulation of the markets of financial services. Members of the unions are more than 2 million Ukrainians.

However in 2007 the director of the department of supervision of credit institutions Gosfinuslug Andrey Olenchik declared that 1% of the credit unions are under suspicion in the organization of financial pyramids. Scandal burst in fall of 2007 when Gosregulyator cancelled the Berliner Baushparkasse union license.

This organization offered the credits for housing under madly attractive 5% per annum (whereas on the average on the market the mortgage cost 10-12% per annum). For receiving so favorable credit it was required to deposit only to the account of the company of 20% of housing cost. At the beginning of November the management "Berliner Baushparkasse" disappeared with client contributions.Speculators didn't manage to develop the activity in a big way - the savings lost about 30 people, the volume of the "gone" means made to 1 million UAH. However law enforcement agencies didn't manage to find malefactors still.

Though this case was single for the market, a certain threat for investors in some KS all - exists. It is possible to make secure against hit in the unreliable credit union if to consider the following nuances.

1. Compliance of promised profitability on deposits to average market indicators. Now KS offer investors about 18-21% per annum in hryvnia. Experts consider rates over 25% suspicious.

2. The underestimated rates on the credits have to guard the potential client. For example, the credit union "All-Ukrainian Credit" offers a mortgage for almost mythical 1% per annum. Experts note that lower than 7-8% or stand behind credit rates crushing terms which level possibility of receiving the desirable credit, or testify to obviously unscrpulous intentions of the management of the organization.

3. Cooperation of the credit union with insurance companies or independent insurance of risks on a contribution to KS. After all still statesmen didn't condescend before creation of Fund of guaranteeing deposits to the credit unions, by analogy to the banking sector. But the mechanism of protection of the credit unions works at the credit market through insurance. Since 2007 "The Ukrainian insurance company of the credit unions" offers insurance of financial risks of the credit unions from possible a swagger - major situations. Besides, the client can insure itself safety of the means brought in KS, but such service about 1% of the contribution sum will cost.

4. Participation of KS in professional associations, such as National association of the credit unions of Ukraine or All-Ukrainian association of the credit unions. These associations critically approach to the members, carry out monitoring of their activity, expose additional requirements to their reliability and solvency.

Mysterious groups

The first criminal cases on LTP "The Ukrainian group "Capital" were brought at the beginning of 2006. Despite of it, the company continued to raise money from Ukrainians up to fall of 2006 when her heads were detained by prosecutor's office (however, after a while them released on recognizance).On different sources, organizers "The Ukrainian group "Capital" could swindle under the guise of preferential crediting 16,3 thousand people which gave the companies more than 150 million UAH. Money was raised under the slogan so-called "purchases in groups" which consists in the following.

The company - the administrator unites group of people who want to buy certain expensive goods - as a rule, the apartment or the car. They give to the administrator rather small sums (initial contributions) then join in system of periodic payments. For raised general money the target goods which are played by the principle of a lottery among participants are acquired. Received goods money (enjoying thus already received goods) while the means brought by them it isn't reached goods cost taking into account percent also continue to pay. Thus, the participant of purchase in groups can receive a necessary thing as in the first month of the membership in the organization, and in some years after the introduction.

"The Ukrainian group "Capital" promised the investors the credits under 1,7% per annum for up to 20 years. The initial contribution made 6,8% of goods cost. After receiving this money the company simply отваживала the client who was offered to wait under different pretexts.

"Purchases in groups create illusion of purchase of goods on credit: equal monthly payments during the term filled with the contract. If upon goods purchase on credit the person receives goods on hands and already, using it, pays the credit, in system of group purchases there are so-called "share acts" - lot among participants of group concerning the right of receiving goods. That is, in the absence of luck it is possible long and to pay the purchase persistently, and to start using it only in 3 years when your happy number will drop out. Thus all contributions have to be paid in time because the debtor loses the right to goods in case of payment delay", - the lawyer of "Gutgarts's lawyer bureau" Ekaterina Gutgarts explains.

Besides, the cost of the goods bought on tick, is recorded in the contract and can't be changed by the seller unilaterally during validity. "Upon purchase in groups this rule doesn't work. As a rule, in contracts on participation in groups the cost of goods becomes attached to the prices of goods at the dealer, that is in case of a goods rise in price, the sizes of contributions respectively will increase", - supplements - жа Gutgarts.

Now in Ukraine work to 20 organizations on "purchases in groups". Their services unambiguously are financial, but only here they don't fall under control of Gosfinuslug as in the law "About Financial Services" such activity as administration of purchases in groups, isn't registered. Supervising department vainly achieves some years from the Verkhovna Rada of introduction of the relevant legislative amendments which will allow to license, control solvency and working conditions of administrators of "groups". However, unsuccessfully.

Probably, structures have influential patrons in the parliament, interested in absence of control of this sphere. To the person, all - decided to address to "group system", recommend to get a grasp of the contract attentively. "Before participation in group of buyers it is necessary to pay attention in the contract on: order, terms and procedure of receiving goods, period of validity of the contract, number of payments, the amount of such payments, existence (absence) of the right of the operator of system on revision of cost of goods, a condition of cancellation of the contract and the sum which is subject to return in case of an exit from the contractual relations", - tells - жа Gutgarts.


Each of you for certain at least once in life faced the sellers working on system of network marketing. In such scheme to the person suggest to acquire at the company any goods. Purchase is "the entrance ticket" in the company - bought acquires the right to sell firm production, and also to involve new sellers. The percent from sales of the "enlisted" new employees drips into the account of the person who has brought them to the company. On this system Avon and Oriflame cosmetics, Zepter ware, and other practical things extends.

In the financial market network marketing is used on sales of policies of assurance of life. The layfovy companies are subject to the state supervision, their top officials bear administrative and criminal liability as participants of the financial market, and certain requirements (for example, the authorized capital of the company on life insurance has to make not less than 1,5 billion euro) are imposed to the insurance companies (IC), having broken which company simply will lose the license and will be closed.

However by the principle of network marketing some organizations offering financial services, but being out of a field of regulation of Gosfinuslug work, and their heads don't bear any responsibility before investors.The most known of them are "Global system of trainings" Robert Fletcher's (GST) and the Intway company. The last promises the clients mortgage loans for housing in an every spot on the globe for only 5% per annum.

For $ dollars 299 people receives the Internet - a site on the basis of Intway software that at the same time is access to corporations system. If the client is interested in a cheap mortgage, he should get the investment bond for $1690, granting the right for purchase of "the dream house". Further it is required most a little - to save up about 30% of real estate cost "worldwide" on Intway accounts, but not by contributions, and through "recruitment" of new members of team who will agree to buy the same investment certificates.
Also Intway offers the clients an exit to New - York stock exchange through own exchange platform. However exchange Intway terminals will make laugh any who though a drop understands share trade. Most likely, this system is designed for people who are far from questions of stock market.

The correspondent "Consulting Pro-hundred-bank" communicated with sellers of Intway personally. Intveevets answered a question who regulates their activity, that the company is registered in the USA. On my remark that the financial organizations have no right to work in Ukraine without National Bank or Gosfinuslug license, they were surprised: "Really you think, what the Ukrainian financial supervision is more effective than American? ". Though, according to a site Intway, the company everything is was registered by the Russian Federation (and also on Virgin (British) Islands, in Seychelles and by Florida). On a rhetorical question: "that will be if your company is closed as you will look in the face to people who trusted you", the answer followed the such: "the main thing that now it brings me money, and the rest is not my problems". No comments.

Gregarious instinct with a foreign accent

Usually, except very attractive financial conditions (scanty percent on the credits or huge rates on deposits), potential swindlers use also other "trumps" aimed at a gain of trust of the client. The overseas origin of the company or number of people which already believed in its "mission" concern to that, for example.But as indicators of reliability of this or that structure can't serve foreign investors ("Berliner Baushparkasse" declared itself subsidiary of the German enterprise), the developed network of branches ("The Ukrainian Capital group" totaled more than 50 offices over all country), especially number of clients of the company (tens of thousands of investors believed in the Russian "Rubin").

Certainly that everyone solves, on what conditions and at what risk to invest the blood. However, existence of the Ukrainian state supervision over the company with which you are going to work, accurate, transparent and unambiguous terms of the contract, and also suspension in adoption of financial decisions will promote that victims of "scams" becomes less.


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