earnbyloaning.com on Page 41 at Nobullshit Network Forum

**allinvain** · 03-18-2008, 04:57 AM

omg Sharon you're alive..where have you been hiding all this time?

**sharonsopinion** · 03-18-2008, 05:50 AM

Quote:

Originally Posted by allinvain

omg Sharon you're alive..where have you been hiding all this time?

Hi Alin,

I've been keeping a low profile. For the most part I'm out of the HYIP world. You're welcome to email me anytime. I check it every few days or so.

Thanks,
Sharon

elanore · 03-18-2008, 08:59 AM

Quote:

Originally Posted by J-S

Also, could someone please tell me if their member's forum is still up? I never used it so I don't have the URL, so I can't tell myself. Thanks.

Is it a question from EBL member?

J-S · 03-18-2008, 08:52 PM

If you're implying that I'm not really with EBL, you're absolutely wrong. I just never got involved with the forum. To me, part of the appeal with these things is that they're PASSIVE -- I didn't want to think about them on a day-to-day basis. I figured that anything I really had to know would be sent via e-mail.

elanore · 03-19-2008, 02:44 AM

Quote:

Originally Posted by J-S

If you're implying that I'm not really with EBL , you're absolutely wrong .

Just saw your massage on the other forum.
You are right. I was wrong. Please accept my apology.

E

J-S · 03-19-2008, 07:26 PM

Quote:

Originally Posted by elanore

Just saw your massage on the other forum.
You are right. I was wrong. Please accept my apology.

E

Apology accepted. Hey, we're both in the same boat here now. Let's just hope it's not the Titanic. Sorry. Couldn't resist.

**allinvain** · 03-21-2008, 03:47 AM

Quote:

Originally Posted by sharonsopinion

Hi Alin,

I've been keeping a low profile. For the most part I'm out of the HYIP world. You're welcome to email me anytime. I check it every few days or so.

Thanks,
Sharon

Same here Sharon. This one will be my last "HYIP". From here on I will be sticking to doing everything on my own. Let's hope that a certain someone makes good on his promise and pays back everyone their principal (and hopefully the interest until time of shutdown too, but I'm doubtful about that).

Yeah, for sure I'll fire off an e-mail to you one of these days. I hope your ebay business doing well!

Cheers,
Alan

okosh · 02-12-2009, 03:25 AM

Graig Jolly has been INDICTED....

Quote:

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20890 / February 9, 2009
Securities and Exchange Commission v. Craig T. Jolly and Quest Holdings, Inc., Case No. CV-09-38-EFS (E.D. Wash. filed February 9, 2009)

The Securities and Exchange Commission today filed securities fraud and other charges against Quest Holdings, Inc. and its principal, Craig T. Jolly, of Spokane, Washington, for operating an internet-based Ponzi scheme promising monthly returns of up to 19.5 percent.

According to the complaint, defendants Quest and Jolly raised approximately $4 million from more than 200 investors, located throughout the country and abroad, through the issuance of short-term securities promising monthly interest rates as high as 19.5 percent. Jolly raised funds by offering and selling Quest securities through Quest's website, EarnByLoaning.com. As set forth in the complaint, Jolly claimed to be active in the investment community and financial markets and falsely assured investors that Quest had a reserve fund to ensure that they would be repaid.

In reality, the Commission alleges, Jolly invested only about one-third of the investor funds he received, on which he suffered hundreds of thousands of dollars in trading losses. The complaint also alleges that defendants operated a Ponzi scheme and repaid purported profits to investors from funds provided by later investors, not from earnings on Quest's investment activities. In addition, the Commission alleges that Jolly misappropriated at least $628,000 of investor funds, which he used for his own stock trading and to pay for his vehicles, medical bills and other personal expenses.

The Commission's complaint, filed in federal district court for the Eastern District of Washington, charges Quest and Jolly with violating the antifraud and registration provisions of the federal securities laws, and seeks entry of an order for an asset freeze, injunctions, an accounting, disgorgement, and civil penalties.

The Commission's litigated action against Jolly and Quest charges both with violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission seeks permanent injunctions, an accounting, appointment of a receiver, an asset freeze, disgorgement with prejudgment interest, and civil monetary penalties.

Craig T. Jolly and Quest Holdings, Inc.: Lit. Rel. No. 20890 / February 9, 2009

okosh · 02-12-2009, 08:22 AM

A trip down memory lane....Wonder if this will be used in the indictment??

Quote:

Interview:

Q: Hi Craig, Kerry, and Troy, thank you for taking your time to answer questions in this interview. Tell us more about yourselves.

A. Craig Jolly - Full time businessman, Owner Quest Holdings Inc.:

Kerry -(Admin support): I work a full time JOB and I am the administer for the website/support for Quest Holdings Inc./EarnByLoaning.

Troy -(customer support): I am a Full time Dad, after giving up corporate life in the retail sector. I am in the customer/member support dept. for Quest Holdings Inc./EarnByLoaning.

Q: I understand that you have a verbal interview at EarnByLoaning/Interview. I appreciate you taking the time to answer many of the same questions here. Do you have the interview transcribed anywhere for our listening impaired and non-English speaking readers?

A. No we do not. We have not addressed that issue yet. It is an important issue for us and we acknowledge that this is important for our hearing impaired members, but at this point in time we have to prioritize the tasks that are higher on the “to do” list. Rest assured it will be done in the future when the new site is up.

Q: I understand that EarnByLoaning and Quest Holdings, Inc. are separate companies. Would you tell me a little bit about each one and how they are connected?

A. Quest Holdings Inc. is the company. EarnByLoaning is just our online presence for the public to see and get to know us.

Q: Are you involved with any other programs? Have you ever been involved with any programs in the past? If yes, please list them.

A. Craig - I have dabbled in a few programs as a member only. They will however remain unnamed. No involvement currently with any other online programs.

Troy: I have been involved with the MLM industry for about 12 years. I have also been a member in various internet programs over the past 6 years but do not wish to name them as I was only a member and they are all gone now anyway. I have been in customer support for a couple of these internet programs and became disillusioned with them because I knew that they were not treating the members right or they were just plain keeping things from them. Anyone who knows me, knows I have very high morals and values and I could not just sit by and watch people get treated in the wrong way.

Q: Is there a team involved with Quest Holdings Inc? EarnByLoaning?

A: There is a small group of support people and small group of financial managers that I work with.

Q: How long has Quest Holding Inc been in existence? EarnByLoaning?

A: Since basically date of incorporation and domain registration

(Note: Readers the date of domain registration is February 4, 2006, which makes them just over 14 months old. It is registered for 3 years.)

Q: Please share with us your background and why you started EarnByLoaning.

A: Craig: I am a CPA and have been involved with investments for over 10 years. EarnByLoaning was concepted out of talks between myself and Kerry over a year ago. We knew there was something we could do to change the way internet companies were constantly ripping people of after getting them all hyped up about the rags to riches syndrome. We felt it was time we made an effort to bring some respect back to businesses who use the internet. As I am sure you are aware, many, many so called investment programs have come and gone with millions of peoples money, and no way for those people to take any kind of action to recoup their losses. We call those type of companies, Flash and dash programs. and they are abundant. I cannot fathom why people keep doing the same thing over and over again to loose money.

Troy: EBL was born from Craig and Kerry wanting to bring some honesty and respect back to internet business and when Kerry asked me to come on board, I checked out why they wanted to start EBL and was blown away by the vision they had. I just had to jump on board. We have something special here. I really do believe that.

Q: I understand that you do not consider EarnByLoaning a HYIP. Why not? What makes it different?

A: To answer this question isn’t all that difficult. You see High Yield Investment Programs are by nature High Risk with NO GUARANTEE of a profit or any return. You could easily loose everything you invest. The rates you see with HYIP’s is usually very high. The record of HYIP’s speaks for itself.

With Quest Holdings Inc., we offer the written contract guaranteeing that the money you loan to our company is legally owed to you upon a certain date. The contract lists the amount, duration and percent of interest it earns daily through the maturity of the loan. It is signed by both the Lender and the company owner personally. By having a contract for the loan, each lender has a recourse of judicial action affirmed them by the rights of the United States judicial system and it’s court appointed authorities. We do not offer any outrageous return rates for our loan program. Considering what we offer, our program is very low risk.

Q: If you haven’t already answered this, please explain how EarnByLoaning works.

A: At EarnByLoaning, member lenders make a loan to our company for a set amount of money at a set rate of return for a set length of time. Their loan earns interest every 24 hours during the time between making the loan and it’s maturity.

Q: Having members sign a Lender’s Agreement when they lend you money is unique in this industry. Please tell us about it and why you use it.

A: The contract is very simple. It is the vehicle in which members and Quest Holdings Inc. are able to protect themselves to some degree. We use the contract to give the lender the assurance that we are a serious company that intends to provide the services we offer. The contract is essential to many lenders because we are a registered company in the U.S. and they know that they have the power to enforce that contract because of the laws governing our business.

Note: I am having a contract lawyer review the Lender’s Agreement. I am waiting on the results and will let you know.

Q: I understand that Quest Holding Inc is not involved with Forex. Without giving away any investment advice or strategies, would you describe what Quest Holdings does to generate returns?

A: We are active in the investment community and financial markets.

Q: Would you be willing to allow a third party, such as Jude, review your earning information and ID documentation, after signing a non-disclosure agreement?

A: ID documentation shouldn’t be a problem, but as for our internal company financials, No - we are not currently willing to open our books to anyone for security reasons and industry trade secrets.

Q: Since you are incorporated in the USA, are you nervous about running this type of program? The SEC has investigated and shut-down many USA programs.

A: No we are not concerned about the SEC. The typical HYIP’s and surfs have been the target of the SEC. We do not fall into that category of companies because of the nature of our business model.

Q: When I searched the BBB I did not find any complaints against Quest Holding Inc or EarnByLoaning. Have you ever had any filed complaints anywhere? If yes, what was the outcome?

A: To our knowledge, we have not had ANY complaints against EBL or Quest Holdings Inc.

Q: Is EarnByLoaning open to members residing in all Countries?

A: Yes.

okosh · 02-12-2009, 08:23 AM

Quote:

Q: I heard on your recording that you report everything to the IRS, What does this mean for your US members? non-US members? Please elaborate on any documentation that you require from members, if any.

A: Members from other countries are encouraged to report earnings as they should to their taxing authorities. We will be requiring members to supply Quest Holdings Inc. with a photo ID and mailing address from which all records can be traced back to.

Q: I understand that you use E-Gold, PayPal, checks, money orders and bank wires for transactions to and from members. I’d like to touch on some of them.

1: Do you have any concerns about using E-Gold, especially since there has been a rash of hijackers stealing E-Gold transactions? Have you ever switched E-Gold numbers? If yes, what was the reason?

A: There is a huge misconception that E-Gold accounts get hacked. This happens because people do not secure their computers correctly. If you do not have the right protection for you computer you are just inviting hackers and key loggers/trojan’s into your computer system. They then retrieve your passwords and walk on in to withdraw your funds.

The other danger with E-Gold is that you need to go through a third party processor or exchanger, if you want to get your funds in and out of E-Gold. If the third party processor is not legitimate, you could lose your money to these scammers. There are some honest ones out there, but you will need to do your own research on that by doing Google searches on reviews of these exchangers.

2. Do you worry that PayPal may close your account due to their Terms of Acceptable Use? I understand that PayPal had Homeland Security investigate you when someone attempted to fund their EarnByLoaning account with $10K. Would you please describe what happened and what the outcome was?

A. It was an international deposit for $10,000 - paypal put a hold in it to verify it was legal and intentional - after all t’s and i’s were dotted it was cleared and no issues since. This wasn’t Homeland Security itself, but, the regulations Paypal was following set forth by them. Keep in mind in the U.S. if you show up to a bank with $10,000 in cash you have to verify where it came from.

3. Do you have a holding period for checks to EarnByLoaning accounts? Do you require extra identification documentation from those depositing via checks?

A. Just until they clear - usually 48 to 72 hours. We haven’t in the past required such identification but we will in the future to discourage identity theft.

4. Bank wires are expensive. If someone wants to be paid via a bank wire, do you charge them a fee?

A. We charge a basic $25.00 bankwire transfer fee to U.S. banks. International bank wires are done case by case basis as they do vary.

5. Do you charge any fees for transactions either in or out of EarnByLoaning?

A. We charge a withdrawal fee. We do not charge for transactions received though. These can all be viewed on the EBL site.

6. Normally when someone is paid it is via the same method they used to deposit. I understand that you prefer it that way, however, what circumstances would you accept for varying the method of payment?

A. We do allow members to use our internal currency exchange, if they need to change the way they receive funds from EBL. We do charge for this service though. Again this can be viewed on the site.

Q: How can you guarantee the return on the loans? Do you use a reserve fund to cover the payments in case of losses? Please elaborate on how and why you chose static returns.

A: We offer members what we know we can safely return. We use this because static returns are easier to track and manage. It is also less confusing for potential lenders to understand how we work. We do have a reserve fund and it is building all the time. The details of this and how much we hold in reserve will not be divulged.

Q: Is the interest on a loan calculated using compounding or is it simple interest? Please elaborate on why you chose the calculation method.

A: Simple interest - with the guaranteed rate of return we’re offering we can’t compound it as well.

Q: Is the principal returned with the interest when the loan matures?

A: Yes.

Q: What happens if a member needs/wants to withdraw the principal before maturity?

A: We take each type of requests individually. We try to evaluate each circumstance independent of any other actions taken in similar requests.

Q: Why do you offer a referral commission?

A: We decided to offer a Finders fee as a way to help future lenders and the opportunity to ‘earn’ their chance to improve their lives. We believe in the policy that if you work to promote EBL, then you should be rewarded for those efforts. EBL is not just for members who have a lot of funds to put into the program.

Q: Are there any plans to close your program or go private for new investors at anytime?

A: We may setup a separate program but have no intentions of closing EarnByLoaning for the foreseeable future.

Q: What do you foresee for the future of Quest Holding Inc and EarnByLoaning?

A: With our program we see no reason it can’t go on indefinitely.

Q: What support options do you offer your members?

A: We have in place our normal email support, our company forum and our VOIP live support using Skype voice and text chat. We do have phone support, but that is limited to special requests. Only because we want members to use our online options first.

Q: What methods do you use to update your members? How often?

A: We do send out a news letter from time to time. We do not believe we should bombard our members with useless emails.

Q: I’d like to ask about your website, EarnByLoaning.com:

1. Why did you chose to use the GoldCoder’s script, since it is well known for being an easy target for hackers?

A: Well it is not an actual GC script, but a cloned script.

2. What did you do to make it more secure?

A. As I previously stated, it is a cloned script so the security is definitely more enhanced.

3. Are you planning to change it to a custom script? If yes, when?

A. Yes we are having a ground up NEW script being written as we speak. We are hoping it will be done very soon, but we will not use it until we are 100% satisfied with it and it is fully tested.

Q: Is there anything else that you’d like to share with our readers?

A. Please feel free to ask any questions. We may have questions that we choose not to answer. Not because we’re hiding things but we are a private company that doesn’t need every detail of operations splashed on the internet.

We hope we have answered your questions.

B. We would like to address the issue of RegisterFly. We are aware of the ICANN issue. We are trying to move to our other registrar, but, Registerfly is not cooperating, so it’s taking more time.

Note: Registerfly is causing a certificate warning. Please don’t pay any attention to it. They are having difficulties getting transferred away from Registerfly after numerous problems with them. If you remember my articles about Registerfly, you’ll see that there are thousands of domains in the same boat.

Regards,
EarnByLoaning

Earn By Loaning Interview at No Bullshit HYIP Blog, A Part of No Bullshit Network