What are the legal issues and Codes of participating in High Yield Investment Programs (HYIP's). I am aware of the extemely high risk and I know that many think they are Ponzi schemes, but those are moral issues. I am looking for info on the legal issues.
2007-02-09 13:38:14 · 3 answers · asked by Pushpendra C 1 in Politics & Government ➔ Law & Ethics
wow scary !!! shall I call 911 ?
2007-02-09 13:49:40 · answer #1 · answered by Miss Debout 2 · 0⤊ 0⤋
Start out at the U.S. Treasury, Bureau of the Public Debt:
http://www.publicdebt.treas.gov/cc/ccphony9.htm
Move on to the U.S. Securities and Exchange Commission including the related links on the following page:
http://www.sec.gov/divisions/enforce/primebank/pbaction.shtml
2007-02-09 21:53:33 · answer #2 · answered by Latrice T 5 · 0⤊ 0⤋
The biggest problem is Fraud. There are also criminal legal issues such as larceny, etc. You also have several contract issues that are common, such as unconscionability, omitted terms, etc.
2007-02-09 22:11:27 · answer #3 · answered by cyanne2ak 7 · 0⤊ 0⤋