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Tag: Profits Paradise

India’s Central Bank Issues MLM Caution

It didn’t take long for MLM to get some bad press in 2015. The Reserve Bank of India, the nation’s central bank, cautioned the public “against Multi Level Marketing Activities” on the first day of the new year. RBI issued the statement less than a month after police in Bangalore arrested four individuals associated with…

Jan 1, 2015
North American Securities Administrators Association Publishes Warning On HYIP Frauds: ‘Ponzi Schemes Sold By Unlicensed Individuals,’ International Group Says

Don’t get fleeced by HYIP scammers and commission-based promoters who push such fraud schemes on the Internet, the North American Securities Administrators Association (NASAA) says in a new warning. From the warning (italics added): Have you ever seen an ad on the Internet or a posting on a social media site promising too-good-to-be-true rates of…

Nov 29, 2014
URGENT >> BULLETIN >> MOVING: SEC Charges Alleged HYIP Operators Who Ran ‘Profits Paradise’ From India; Scammers Allegedly Used Fake Names And Engaged In Wanton Deception

URGENT >> BULLETIN >> MOVING: (Updated 9:33 p.m. ET U.S.A.) The SEC has charged two Indian nationals with running an HYIP scheme known as “Profits Paradise” that reached into the United States and offered “extraordinary” returns of up to 480 percent in 240 days, plus “compounding.” As is typical in HYIP schemes, the “program” gained…

Nov 12, 2014