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I wonder who invests in HYIPs

I have been looking at these high yield investment programs and wondering who actually invests in them. Wikipedia says that these investment schemes are a “type of Ponzi scheme”.

People tell me that setting up an account can be very complicated. Some HYIP funds insist on verifying bank wire transfers by demanding personal information (passport, driver’s license). I would hope that people would object to sending such sensitive information to these on-line investment schemes.

Others have no such requirements. However, red flags are raised when you learn that the money is wired to one country while the company is registered in another with a telephone number in a third country.

Many of these schemes use two payment systems – Liberty Reserve and Perfect Money. In the case of Liberty Reserve, you first have to put your money into an authorized exchanger account in order to transfer your money to Liberty. Eyebrows should be raised when you see that some of these exchangers are in located in Russia where it is believed that there are a lot of computer hackers. Some require the use of yet another level of exchanger to get money into the system. To make matters worse, many of these exchangers charge fees that can be a high as 30 to 50% of the amount being transferred.

If it is this hard to give them your money, how hard will it be to give it back.

In my opinion, the more difficult it is to follow the money, the more likely it is a scam. It also looks as if every step of the way someone, somewhere, is making money from your money.

I would love to hear from people investing in these schemes to find out what their experience is.