In this review we expose the Pennywise Wealth Management scam that is very dangerous for your money.
What is Pennywise Wealth Management
Pennywise Wealth Management is a financial service that promises to make you money thanks to investment in stocks, currencies and commodities. The company will manage your investments and supposedly earn you money.
Pennywise Wealth Management offers three investment plans called Premium, Gold and Platinum. Daily returns are 2%, 2.5% and 3% respectively. The minimum deposit is 100 USD and 30,000 and 60,000 for the higher plans.
How much money can you really make with Pennywise Wealth Management? Nothing!
Pennywise Wealth Management scam
Pennywise Wealth Management is a scam and we are going to prove it in this review. It is an illegal investment scheme that is doomed to collapse. It is only a matter of time.
We researched Pennywise Wealth Management and found out that it is an illegal clone of a real company called Pennywise Investments. This real company has even placed a warning on its website that says that it has nothing in common with Pennywise Wealth Management (see our picture below).
The reason why Pennywise Wealth Management is trying to look like a clone of a legit company is to confuse people and make them believe that Pennywise Wealth Management is legit too. But it is not. It is an illegal clone and a scam.
One of the main reasons why Pennywise Wealth Management has a similar name to a legit company is that it uses its credentials, it claims to be regulated. But it is not.
According to its Terms and Conditions, Pennywise Wealth Management is located in Great Britain. This means that it has to be regulated by the Financial Conduct Authority. But it is not.
Pennywise Wealth Management has no license whatsoever, it is an illegal investment service, clients’ deposits are not protected in any way.
One of the dirty tricks that Pennywise Wealth Management did when cloning the above-mentioned legit company is that they stole their testimonials.
As you can see in our picture, they have stolen the pictures and stories from the other company. In other words, Pennywise Wealth Management’s testimonials and reviews presented on its website are fake, it is a scam.
Anonymous and shady
When looking at any investment offer, you always should carefully check who is providing it. It always should be a company licensed to offer investment services with a license valid in your country.
We have already established that Pennywise Wealth Management is not regulated at all. What is even more alarming, is that it is completely anonymous. It does not provide any address nor phone number.
Investing with Pennywise Wealth Management means that you would be sending your money to an anonymous and unregulated entity. So, in case of any problem there would be nobody to help you. You would not even be able to tell who scammed you, because real owners of Pennywise Wealth Management remain hidden.
Ridiculous investment plans
Last but not least, we can tell that Pennywise Wealth Management is a scam just by looking at the investment plans. Because 60% to 90% monthly is a ridiculous number that no legit company can achieve on a regular basis.
When you see this kind of profits offered by an anonymous company, you can be 100% sur that it is a fraud. Indeed, Pennywise Wealth Management is a scam that can’t earn you anything, it can only lose your money.
How Pennywise Wealth Management works
Pennywise Wealth Management is a scam, there is no doubt about it. But how it really operates? It obviously is a Ponzi scheme, which means an illegal financial game.
Ponzi schemes work like this: they claim to be doing some legit investment activities, they offer unrealistic returns and they collect money from people. At the beginning, they pay the profits, but they use money from newer deposits for that purpose.
Since Ponzi schemes like Pennywise Wealth Management don’t do any real economic activity, they only play with money they get on deposits, they are destined to collapse. Because withdrawal requests will sooner or later be bigger than new deposits coming into the system.
With scams like Pennywise Wealth Management it is only a matter of time before they collapse. It is certain to happen. The only thing you don’t know is when will it happen. The safest thing to do is to stay away from them.
Stay safe and get your money back
The best thing is to never invest any money with scams like Pennywise Wealth Management. Because even if you manage to pull some profits out of it, they will be losses of somebody else who came after you and got scammed in full.
If you already invested money with Pennywise Wealth Management, we recommend withdrawing it back as soon as you can. If, for some reason you can’t, try to get a refund.
Pennywise Wealth Management accepts deposits through Perfect Money, Payeer and Bitcoin. If you made a direct deposit in bitcoin, then it unfortunately is irreversible. If you used one of the mentioned companies, contact them, explain that Pennywise Wealth Management is a scam and ask them to refund your deposit(s).
Don’t look at if Pennywise Wealth Management is still paying or not, it is a scam that is going to collapse any time, so get out as quickly as you can.
Pennywise Wealth Management review – the conclusion
Pennywise Wealth Management is a scam, an illegal investment scheme and an illegal clone of another company. It is going to collapse and money will be lost, stay away from it!
If you are interested in investing, try it on your own with a regulated broker on a free demo account.
You have to understand how things works, what are the risks, and only then you can eventually invest real money. Be an educated investor, don’t put your money in scams like Pennywise Wealth Management that promise impossible returns. Money is not free.