Scams - Ponzi Schemes
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Charles Ponzi started a certain scheme in the early 1920’s and the name stuck to this type of scheme. Such schemes have certainly become more refined but the underlying truth is the same- lure people and exploit their desire to make money.
A Ponzi scheme is essentially a fake investment business and likened to a Pyramid scheme. Investors are paid returns from money raised by recruiting more investors rather than revenues from any genuine product or service.
The ads proclaim high returns in the tune of 20% for a month’s contract. The system by which this can be earned sounds business-like but no one is clear on what it exactly means. Terms like "global currency arbitrage", "futures trading", "high yield investment programs", are used.
These companies dutifully pay up the returns for the first month as most new people who join invest small amounts. People start believing and start investing larger amounts and it is out of this that they pay the others. It works fine until either the sponsor vanishes with all the invested money, or there is a breakdown failure or the system is exposed.
Do not get carried away buy tall claims of guaranteed high profit returns. Beware of advertisers who do not provide clear-cut details in writing about the nature and scope of the investment. You will see that most of them do not give a clear and simple explanation of the products or services and how the profits will actually be generated. This is evident proof that the business is unlawful.
Therefore, a Ponzi scheme is just another investment rip-off, carefully concealed under the business jargon. It just goes round and round in circles. Finally caves in and the promoters disappear and so does your money.
These promoters look and sound like qualified experts. They will have enough credible sounding reasons to delay your payments and persuade you to reinvest. Awareness and Watchfulness are the key words. Look for better avenues to invest your hard-earned money in.
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