Cashcards, release the money of Nigerians

I got to know about CashCards for the first time, in June 2002. At that time, they were offering V-cash (a digital currency system), a VISA ATM card, e-gold to v-cash transfer and vice-versa. CashCards was also running GoldLynks. According to their website in 2001:

The GoldLynks Club
Dedicated to the Advancement and Enrichment of our Members

Man has treasured Gold for it’s rarity, beauty, and value for more than 5,000 years. Emperors, Kings, Sultans, and Sheiks valued Gold as the one secure asset in an insecure world. From the dawn of the time to the dawn of the new Millennium, governments and civilizations have come and gone but Gold has endured.

The GoldLynks Club was founded to help all people understand the power of adding Rare Coins to their portfolios for future appreciation, and as a hedge against inflation. GoldLynks Rare Coins offer great profit potential and security.

The Goldlynks Club offers it’s Members ongoing training in Gold and other Precious Metals, past, present and future, as well as the opportunity to purchase Rare Coins at special discount prices not available to the general public.

Many Nigerians joined the scheme, to make money. Investment from Nigerians was significant as the mobilization of people to join via the affiliate system Cashcards used, was massive.

In June 2006, Cashcards disabled the accounts of all Nigerians on their system, citing the listing of Nigeria, on the blacklist of Financial Action Task Force (FATF). They locked their V-cash accounts and withheld their funds.

FATF has since removed Nigeria from the list and CashCards has refused to released the accounts of Nigerians.

See: DigitalMoneyWorld

The domain has since been taken over and a page on the CashCards website about goldlynks simply reads:

As of 6/30/06 the GoldLynks program has been suspended indefinitely.

© Copyright 2001-2007 GoldLynks Club All Rights Reserved

If this is not another case of scam, what is it?

Cashcards, release the money that belongs to Nigerians. It is illegal to hold people’s funds, under false pretences. It is criminal!!!

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Oluniyi D. Ajao
Oluniyi D. Ajao is an Internet Entrepreneur and Tech Enthusiast based in South Africa. Follow him on twitter @niyyie for more tech updates.


  1. Hi David,
    I am very impressed by your web site. You appear to have mastered the art of Blogging. You have a great site!

    Concerning GoldLynks:
    Cash Cards ran the GoldLynks program through June of 2006. At that time we were forced to shut it down, as GoldLynks was losing money rapidly due to the rapid increase in the cost of Gold, and we could no longer continue the program.

    We were forced to discontinue doing business with Nigeria, due to pressure from our banks in the US. Since then Nigeria was removed from \”Blacklist\” status and placed on a \”Probationary\” status. We are still restricted from doing financial business there. At the same time V-Cash Ltd has the had their own financial difficulties and is on the verge of bankruptcy.

    Cash Cards has been searching for a solution to get the Nigerian accounts open and save our Nigerian customers.

    Since then we have formed an Alliance with The Affiliate Community, TAC,( an Online Internet Marketing Training site. We have convinced the owners of TAC the value of the Nigerian market and they have agreed to accept V-Cash as a method of payment for their training services. This has allowed over Nigerians to take over 98% of their remaining monies from their V-Cash accounts. There may still be a few Nigerians who have a small amount of money in their accounts.

    Cash Cards has introduced a new Pre Paid Credit Card that can be funded by e-gold or v-cash. These new cards are available through our web site at These new cards are good for making purchases at over 5 Million Merchants around the world, including Gas Stations, Grocery Stores, etc. and anywhere that accepts Credit Cards. They can also be used to make purchases over the phone and on the Internet.

    These new Cards are available to members of The Affiliate Community. Since this is not a financial program but an educational program there is no problem with Africans who are Members of TAC having these cards. In fact a TAC Cash Card comes as a bonus to every TAC Subscriber.

    Thank you David for bringing the world closer together!

    To Your Success!

    Steve Renner, Director
    Cash Cards International

  2. Thanks for shedding light on what happened between GoldLynks and the accounts of Nigerians. I have two questions for you.

    # 1: How will you respond to this news item published on the website of a leading Nigerian newspaper?

    #2: I know about Cashcards and almost bought the last Visa ATM/credit card you were offering, until it was suddenly withdrawn. I know about the latest one you are offering right now but have been skeptical due to what happened to the previous one. You were also offering a different VISA ATM card in 2002, with which Cashcards/V-cash users were cashing their money here in Ghana.
    Now, what assurance is there, that the latest VISA credit card you are offering will last?

  3. Steve,

    Since then Nigeria was removed from \”Blacklist\” status and placed on a \”Probationary\” status.

    Who placed them on ‘Probationary’ status and what date was that? Give me proof and a URL to verify this.

    “We are still restricted from doing financial business there.”

    You are restricted by whom? What branch of government is restricting you? Or is it your bank? What is the name of the bank and how did they notify you of a ‘restriction on doing business with Nigeria’ ?

    I would appreciate answers as I am writing and publishing a series of articles on just this topic, Cash Cards frozen funds and the legality of what has happened so please be specific.

    Mark Herpel

  4. i’m one of those that invested in goldlynks through daboos investment, ile ife. to my surprise, my capital and interest have been frozen. i take it to be compounding, so i like them to release the fund with adequate interest to date

  5. Hi David,
    I appreciate your blog as it lets us place our comments and views over various issues. About Goldlynks, i really want to send a message out steve renna, I am a proud Nigerian and am not afraid of saying that. You took a lot money from Nigerians who traded goldlynks, to a lot of them, that was their means of survival. By clossing up their V-cash account, you depreived them of some many previleges. i would really like to know when these accounts will be opened for us withdraw all that we have. For the past two years, those accounts are still on probation. We are no longer intrested in trading or doing business with you. let us have our money invested into cashcards back.

  6. Hello DAVID,
    I write on behalf of many Nigerians who took from there meager income to register with cashcard via golldlynks.I appreciate your efforts on retreiving the monies.
    Please,I want to confirm if the organisation(cashcard/goldlynks.)is working elsewhere?apart from my great country claimed to be blacklisted without consedering the plight of those investors.
    Also, do we need to be waiting for mercy on the matter.

    Waiting for reply.

  7. The goldlynks system at that time looked too good to be true. I know because i joined it and they had a system called the power cycle that enabled one to earn from the companies worldwide sales as soon as you had three new members or something like that.

    • You are right. From what I remember though, you earn based on your own 3 referrals only. I never joined but was close to several people who joined. I only used CashCards, their online wallet system.

  8. Have you ever heard of Steve Renner? Renner is the founder of iNetGlobal and the V-series including V-cash, V-local, V-web, V-mail, V-shop, etc.

    I am wondering whether the V-cash you refer to is the same V-cash from iNetGloval? BTW, iNetGlobal is currently under investigation from the U.S. government for ponzi scam charges.

    If anyone knows Steve Renner let us know. He is also a musician and plays guitar.

  9. can someone give me a list of credible and authentic PTC programs(pay per click) and also tell me how one can cash out from nigeria without hitches of any kind?

  10. Pls i was one of the goldlynk member then before closing down of the company, and i have not head anything about it til today. Pls i have some money in my V-Cash account, pls therefore if there is any useful information on V-cash and goldlynk pls let me know and how to get my money back on my v-cash account. Thanks and God bless. Abiodun Olajuwon from Nigeria.

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