HYIP's are illegal in US

United States
May 7, 2007 4:26pm CST
all of them are scams anyway, so don't invest in them, even if you do, and earn big, the FBI will be after you.
5 responses
moreinfo
@moreinfo (3865)
• China
8 May 07
the us gov organs have been saying that e-gold is illegal. really dont know what is going on there?
marcuma
@marcuma (10)
• United States
8 May 07
E-Gold isn't illegal either unless you use to peddle child exploitation material, launder money, or try to commit fraud of any manner. That's what is illegal. Just as driving a car is not illegal but running over someone's grandmother is. Trading stock is not illegal but inside trading is. It's all in the application.
BrainTeaser
@BrainTeaser (1428)
• Pakistan
7 May 07
I really dont think these are illegal anywhere in the world as they provide the opportunity to get profits on your investment and as they provide irrational percentage so they do became risky but not illegal ,you might get scammed from these but its all part of winning and loosing , one day you might get some huge profits on your investment and the other day just nothing at all even can loose your principal aswell but if you still think that its illegal will you please point out under which law it has become illegal? Where one can find the judicial explanation for it?
mirage108
@mirage108 (3402)
• United States
7 May 07
ohh how can you classify them as a scam when they tell you in the terms that you might or might not make any money and it is all a risk. to me that is just like going to a casino and gambling. so what I decided I would gamble 5 dollars for example to get 7 dollars at atlantic city or Vegas. It is the Same Thing your gambling your money to make a lot of money. so how is that a scam.
mirage108
@mirage108 (3402)
• United States
7 May 07
HYIP's are not ilegal. If you do earn big with them the FBI wont come after you, but the IRS might. Just clame that as income when you do your taxes and you will be fine.
marcuma
@marcuma (10)
• United States
7 May 07
That is absolutely untrue. Ponzi scams are illegal. I challenge you to provide proof that HYIP is illegal. If that was the case, then why are programs that are incorporated and operating in the United states for 2-3 years still operating? I think you should have proof and facts together before you start claiming things on open forums.