Beware of HYIP's, they are mostly SCAMS...........

India
July 2, 2007 6:12am CST
Be careful of investing in HYIP's, all most all of them are SCAMS, if they found such an investment opportunity, then why are they asking you to invest rather than they themselves doing it. None of them take paypal, why because they are afraid to being frozen, no they take other lenient and non-US based payment processors, so that they might get away from legal action, also they are located in countries where there is no online law or laws. SO BE CAREFUL VERY VERY CAREFUL WITH HYIP'S.
2 responses
Penny Medlock
@badpenny (741)
• Lancaster, Texas
2 Jul 07
This is why hyip programs are illegal in the us for the most part. They are considered ponzi schemes. and carry federal penalties. I'm so happy you posted this topic. Everybody needs to read it.
1 person likes this
booster20002005
@booster20002005 (283)
• India
2 Jul 07
Yes, you are absolutely right, what they actually do it they take money from the new members and give it to old members, the money is not being invested anywhere, when they make enough money for themselves they simple close the website. See, if there are any such investments, why are not investment bankers and other investing groups interested?????????
kevsgirlalways
@kevsgirlalways (5883)
• Malaysia
2 Jul 07
yeah i've been scammed by a few HYIPs before! T_T it's so tempting to invest because you know that you can make money out of it, but too bad they're mostly scam. i don't trust/invest hyips anymore....