Allan Greenspan, the former Chairman of the Federal Reserve Board has been proven wrong by events: trusting markets and companies to regulate themselves does not work. He was staunchly opposed to any form of regulation of the finance industry and admired for it. The result was that banks started organizing ponzi schemes among themselves.
WBWSO, or Wealth Builder Website Owners is an internet site catering to investors seeking higher returns to their investments on a relatively short term. The sales pitch is certainly interesting and sure to attract many copy cats, which is unavoidable, which brings to mind that thousands created directories after Google, yet none ever caught up [...]
When one needs to change a currency, for example, Dollar bills, into any other currency, one usually seeks out a cambist or money exchanger. The world is full of them; the most familiar are our own local banking branches. We do this because it would be hard to pay for a coffee in the centre [...]
Intexchange offers automatic eCurrency exchange services worldwide through its website and has headquarters in Ukraine. For non-russian speakers, this could be a problem as all web pages have not been translated yet, which makes it difficult for non native speakers to read the fine print and adds risk when dealing with their services. I found [...]
A judge in North Florida has ruled AdSurfDaily is a ponzi scheme after failing to prove it is a legitimate business. AdSurfDaily has some 93 million dollars seized and did not manage to free the 2 million dollars it had sought to continue under a court approved monitoring provision it needs to stay in business. [...]
The list of failed HYIP sites is very long. This one is just a sample, we are currently working on a comprehensive database that can be queried more easily. 107percentinhour.com -> www.107percentinhour.com 10dailyreturn -> www.10dailyreturn.com 10×15.com -> www.15×10.com 11 Daily,Fund -> 11dailyfund.com 160hyip -> www.160hyip.com 170 Club -> www.170-club.com 1dailyfunds -> www.1dailyfunds.com 2in1 Program -> [...]
Should we distrust all online High Yield Investment Plan sites? The complete answer is yes and no. Yes absolutely if you have no clue as to what HYIP is about and if you have no organized due diligence strategy, no if you know your way around and when you are familiar with the industry. Naturally, [...]
DRFE, a Colombian Pyramid Scheme promising returns of up to 300% is reported to be under investigation by local authorities. Estimates by officials mention up to 240 offices collecting a staggering 870 milion dollars. This is a scheme that operated on a national scale, causing major havoc and disrupting thousands of lives. Riots have been [...]
