I found a company that guarantees to pay out 1.5 to 2% interest EVERY DAY. I have done this business for 2 months now and they pay me everyday ontime without fail. i can take my money out every easy and been taking some interst money. My friends say stop. Should I trust it? I'm thinking every investor would be breaking down their walls to invest with them.
2007-12-04 08:10:49 · 14 answers · asked by jean l 1 in Business & Finance ➔ Investing
it's either very risky (2% a day * 300 days = 600%) or it is a classic pyramid scam : they take your $ to pay others their 2% and take new comers to pay you your 2%, while they enjoy most of the principal given. Scam like these have been known to rack up hundreds of million until they break. Whoever was not able to withdraw their money before the scam exploded lost all their $ invested.
Hey but what do I know (I am jsut a savy investor)...good luck
2007-12-04 08:24:48 · answer #1 · answered by crapaudblanc 4 · 1⤊ 0⤋
They pay you every day without fail for 2 months and yet yesterday you were asking if we all thought this was real? I will say again...If you got 2% per day on 100 dollars after 3 years, you would have enough money to pay everyone in the state of north dakota 34,000 dollars per year each for the next 10 years and still be the richest man in the world after that.
2007-12-04 09:52:33 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Nothing but a ponzi scheme.
A Ponzi scheme usually offers abnormally high short-term returns in order to entice new investors. The high returns that a Ponzi scheme advertises (and pays) require an ever-increasing flow of money from investors in order to keep the scheme going.
The system is doomed to collapse because there are little or no underlying earnings from the money received by the promoter. However, the scheme is often interrupted by legal authorities before it collapses, because a Ponzi scheme is suspected and/or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.
2007-12-04 08:41:00 · answer #3 · answered by Anonymous · 1⤊ 1⤋
This is a Ponzi Scheme -- look it up in Wikipedia. You may well have received your 1.5-2.0% daily SO FAR (by the way, which is it?), but eventually the cash will run out. This is a classic Ponzi scheme...you are right to be worried, and you should immediately a) pull ALL your funds out and b) report whoever is promising these returns to the appropriate authorities. D
2007-12-05 13:42:45 · answer #4 · answered by HeavyD 3 · 0⤊ 0⤋
Get out and run as quick as you can.
Please tell me what kind of business can the principal company engage in to produce a return of more than 2% per day in order to pay you 2% daily?
Trust me if it has been working, Banks would have been closed long time ago.
Run Now!
2007-12-04 11:16:21 · answer #5 · answered by Alfred Chew 2 · 1⤊ 0⤋
A 2% interest rate is more than a loan shark would charge.
It sounds a though you have received more than 1/2 of your money back so far. See if you can get all of your money (including interest) out today and see what they say.
2007-12-04 08:26:49 · answer #6 · answered by William H 5 · 1⤊ 0⤋
HYIP SCAM
Hundreds of HYIPs appear every day. hundreds of them disappear in less than 1 month.
It is possible to receive 2% interest on an investment every MONTH, not every day!
I run my own business and I have profit margin of over 5% a month.
Best of luck!
2007-12-05 08:07:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Hi Jean, I see you are back with the same question you had before. I take it you did not get the answers you wanted??
What you should do here, is borrow every cent you can, from friends, from family, from a bank. Mortgage your house to the hilt, & put it into this investment.
Because any investment that pays 125 times more than a bank is absolutely honest & dog gone it, A SURE FIRE WAY TO GET RICH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2007-12-04 09:19:32 · answer #8 · answered by exactduke 7 · 1⤊ 1⤋
Tell us the name of the campany. If they have a web site, post a link here. If you got any literature, scan it or take a picture of it and post it so we can see it. Do they mail you a check every single day or what?
2007-12-04 12:12:56 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Take it as it comes, becomes you know sooner or later all things come to an end. If you profit, great, because if it is a pyramid scam, I know NO ONE that has done well.
2007-12-04 09:16:11 · answer #10 · answered by primalclaws1974 6 · 1⤊ 0⤋