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A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. [1]
Report the scam. If you feel you’ve been taken advantage of by an investment scam, contact your local banking institution to go over how to best protect and recover your personal finance ...
Before you make a purchase or donation, take a few minutes to review the company. Do a web search for its name plus "scam" or "reviews" and research charities on Charity Navigator and CharityWatch ...
All investments carry some degree of risk, but there's a distinct line between a risky investment and a downright scam. Unfortunately, scams are prevalent. According to data from the Federal Trade...
Typically, Ponzi schemes require an initial investment and promise above-average returns. [21] They use vague verbal guises such as "hedge futures trading", "high-yield investment programs", or "offshore investment" to describe their income strategy. It is common for the operator to take advantage of a lack of investor knowledge or competence ...
Profitable Sunrise was a Ponzi scheme that operated between 2012 and 2013, accepting deposits from members and promising returns on investment of 1.5% to 2.8% per business day, thousands of percent annualized. It solicited members around the world, particularly among Christian communities in the United States of America and in Canada.
In 2008, R.P. McCabe and his wife were heading into retirement with a solid financial future that included a $1 million investment in real estate with Right Place Properties and the Red Door Group ...
Fairfield Greenwich was a defendant in a class action seeking to recoup losses resulting from Fairfield Greenwich funds' investments with Bernard L. Madoff Investment Securities. [29] The class action was a result of the consolidation of multiple cases filed in federal and state court against Fairfield Greenwich. [30]