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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]
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 ...
Trending: During market downturns, investors are learning that unlike equities, these high-yield real estate notes that pay 7.5% – 9% are protected by resilient assets, buffering against losses.
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In June 2005, in Los Angeles, California, John C. Jeffers was sentenced to 14 years in federal prison and ordered to pay $26 million in restitution to more than 80 victims. Jeffers and his confederate John Minderhout ran what they said was a high-yield investment program they called the "Short Term Financing Transaction".
Be on high alert if there are last-minute changes to your closing time or wiring instructions. Call your realtor, title company and financial institution. Verify the changes at least twice before ...
Best practices • Don't enable the "use less secure apps" feature. • Don't reply to any SMS request asking for a verification code. • Don't respond to unsolicited emails or requests to send money.
Homeowners across the U.S. are being targeted in a sophisticated scam in which callers pose as mortgage lenders to defraud people out of hundreds of thousands of dollars, the Federal ...