Look at these returns. Ance Finance.com 6% hourly for 21 hours, 135% after one day, 75% daily for 2 days, 175% after 2 days.
ChokoMoney 135% after 7 days, $3,000 maximum deposit. Wow!
These high yield investment programs (HYIPs) are promising more than what you could make on a lucky day gambling in Vegas. This Vegas Guide and Gaming Tips website suggests you can get about:
- 1.4% playing craps (drops to about .7% with odds bets)
- 1.5% playing blackjack
- 5.3% playing Roulette.
Some of those percentages are similar to the daily returns that some of the HYIP schemes promise. Do you think you could beat the house in Vegas every day? No? Do you believe the HYIPs can beat the house every day? Neither do I. The HYIPs promise unbelievable returns that are, in my opinion, complete fiction. (HYIPs are according to Wikipedia, a “type of Ponzi scheme.)
What’s the difference between gambling in Vegas and investing in a HYIP scheme? In Vegas, you know the odds are stacked against you, but at least you have the chance of winning and having some fun in Vegas. With a Ponzi scheme, you stand to lose everything when the scheme collapses. And that is not fun.
On Saturday, Nov. 17, InvestRight was in Surrey to participate in the city’s Focus on Seniors Forum, which was presented in Mandarin. About 190 people turned up to listen to three keynote speakers, the RCMP, Surrey Fire Services, and other community organizations. InvestRight’s Anne Rutherglen was one of the keynote speakers. This series of forums […]
There are a lot of lessons to be learned from reading the Canadian Securities Administrators’ 2010 Enforcement Report. Read, for example, the Alberta case called Kustom Design Financial Services Inc. This is a company which held seminars supposedly offering financial education. It was, instead, a cover for the illegal selling of securities to vulnerable investors. […]