PatrickPretty.com

Tag: FINRA HYIP warning

Pitchman Says Hong Kong-Based ‘Program’ Is ‘1,000 Percent Better’ Than Profitable Sunrise And Zeek Rewards

In a bizarre and disturbing video playing on YouTube, a former Profitable Sunrise pitchman claims a new “program” he joined is operating from Hong Kong and is purveyed by an unidentified “doctor.” The purported opportunity is “1,000 percent better” than Profitable Sunrise or Zeek Rewards, according to the video. News of the video first was…

May 12, 2013
DURANGO HERALD: Attorney Says His Client Was Ponzi Player Who Tried To ‘Scam The Scammers’; E-Bullion’s Name Surfaces In Illustrative Case Of Frederick H.K. Baker, Who Is Sentenced To Federal Prison

In July 2010, FINRA memorably described the HYIP sphere as a “bizarre substratum of the Internet.” The regulator warned about “online payment systems” that are used for criminal activity, noting that some fraud purveyors discuss subjects such as how to “build a winning HYIP portfolio” and how “to ‘ride the Ponzi’ and get in and…

Oct 8, 2011
GO FINRA! Regulator Tackles Online HYIPs; Issues Warning On ‘Social Media-Linked Ponzi Schemes’; References P2P, Genius Funds, ‘Con Artists’ And ‘Bizarre Substratum’ Of Internet

EDITOR’S NOTE: It has become increasingly clear that regulators and the law-enforcement community are rallying around a common theme that web-based promoters are using discussion forums and social-networking sites in bids to sanitize HYIP Ponzi schemes by positioning them as attractive investment opportunities and even a thrilling form of gambling that pays commissions. Today the…

Jul 15, 2010