CherryShares (cherryshares.com) is a well-known program that has a lot of fans. It has been operating for almost 600 days and therefore it is also one of the oldest paying HYIPs. If you are an investor of this program, then you probably know about the recent changes announced by the administration. It was informed that the terms of the investment plans would be changed and the new ones will be offered since January 2011. We wrote news about it here: CherryShares Changes Plans
CherryShares has gained many fans who truly believe that all changes are only for good and that the admin of the program is very wise and he knows what he is doing. However, for some reason the promise to implement the renewed short-term plan with lower interest in January was broken and it has been already done. We have received complaints from our readers regarding this issue. It turned out that those terms which our readers saw when they joined the program are not valid anymore. The principal can be withdrawn according to new rules as well as the terms of referral commission (described in the above mentioned news) have changed.
When one of our readers contacted the administration he was told that they have a right to make changes at any time and that it is specified in their TOS. Such action has caused many problems for CherryShares.com. Many investors decided to withdraw their money because of these unexpected changes and this massive withdrawal has seriously disrupted the work of the project. The administration admitted problems caused by mass withdrawals via LibertyReserve and the fact that many investors have pending withdrawals because of it.
These problems might be temporary and as long as payment delays do not exceed 72 hours (that's the guarantee payment period in TOS), there is still a chance that everything will get back to normal. However, the reputation of CherryShares.com has been badly shaken.