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.
November 21, 2006 Vancouver – The British Columbia Securities Commission is warning people to be on the lookout for a suspicious investment scheme expanding throughout Greater Vancouver that promises investors extraordinary returns and commissions for bringing in new investors. BCSC staff have received reports that people are being recruited by friends or acquaintances to […]
As of July 15, 2014, under the Client Relationship Model 2, several new requirements apply to advisors in how they deal with you. What this means is that before accepting an order from you, your advisor must disclose the fees you’ll have to pay to buy or sell a security or a reasonable estimate of […]