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/biz/ - Business & Finance


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3874622 No.3874622 [Reply] [Original]

Operators generally set up a website offering an "investment program" which promises very high returns, such as 1% per day (3778% APY when returns are compounded every day), disclosing little or no detail about the underlying management, location, or other aspects of how money is to be invested. The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists … seek to mislead investors by suggesting that well regarded and financially sound institutions participate in these bogus programs."[1] In 2010, the Financial Industry Regulatory Authority (FINRA) warned that "[t]he con artists behind HYIPs are experts at using social media — including YouTube, Twitter and Facebook — to lure investors and create the illusion of social consensus that these investments are legitimate."[2]

Though Ponzi schemes have existed since at least the early 1900s, the rise of digital payment systems has made it much easier for operators of such websites to accept payments from people worldwide.[3] Electronic money systems are generally accepted by HYIP operators because they are more accessible to operators than traditional merchant accounts.

>> No.3874933

>>3874622
http://www.tzr.io/yarn-clip/88628fad-050b-4c56-9f29-1cbf6458399a

>> No.3875308

I joined the one on bittox.com it pays 4.5% daily

>> No.3875382

>>3875308

hahahahaha

>> No.3875388

Biz really should coordinate on these

>> No.3875472
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3875472

Let's coordinate this then. Start by joining the collaborated pump Channel which we will use for other purposes t.me/joinchat/GlRSG0Po444c7gw8rld96w