I continue to write about High Yield Investment Programs (HYIPs). Today I googled the category and the first thing that popped up under Sponsored Links was “Need a good HYIP?”
It linked to CenTex Products — Premier Oil & Gas Investment products. As soon as you open the ad, a long and tedious video starts playing, describing the history and process of drilling for oil. I am not sure how clever this promotional video is today when we are all reading about the effects of the disastrous oil spill offshore along the US Gulf coast.
CenTex Products promises up to 77% annual return on investment with monthly dividends with headlines “low risk and high yield.” Really?
There is no information on who the principles are in this company or where it is situated, except to say that it is researches the best investments sectors in energy markets. All you have to do is fill in the form on the right side of the page, and you will be connected to an investment consultant who specializes in international energy investments.
In small print, under click here for a Free Guide, it says “5,000 Euros minimum investment.”
It plays on the environmentally conscious individual by describing these as “green energy investments” and cleverly links it to ecomagination , which is a short ad about Plugging into the Smart Grid, sponsored by General Electric. I wonder if General Electric knows that this HYIP (described by Wikipedia as a “type of Ponzi ) is using its good name.
I then looked at the website. It raises even more red flags. The company is headquartered in Panama City. There is no information about management, directors or corporate governance. There is no research posted under research.
Remember it is relatively easy to create a website, using content to make it look legitimate. The real purpose of the ad and website is to get your personal information. Please don’t give it to them.
The answer to the question asked is no, there is no such thing as a good HYIP.
To read previous posts on this and other topics, click on Let’s Talk about Investing.
Learn about oil futures markets and what happened to the oil futures markets in April 2020.
In October, the BC Securities Commission (BCSC) issued one settlement agreement. The Mutual Fund Dealers Association of Canada (MFDA) issued one decision, and the Investment Industry Regulatory Organization of Canada (IIROC) issued one penalty decision and accepted one settlement agreement relating to BC residents. You can find a summary of some of the recent matters […]