You have started investing in online High Yield Investment Programs (HYIP)? Be warned: 99% of investment offers you see on the internet end up as scams.
But if you do intend to lose money online, read on because we have prepared a list of seven easy steps that will surely help you lose your hard-earned money to scammers on the internet.
Earlier last week, a news reporter from a major TV channel emailed Pinoy Money Talk and asked if we can recommend people who would be willing to sit for an interview to talk about their losses in the online investment program FrancSwiss.
Our reply, at that time, was that it might be difficult to find those people because FrancSwiss is technically still not a scam because it has not stopped paying yet. Our opinion was that investors would not badmouth a program they think has not done anything wrong.
Fast forward several days later, and FrancSwiss was declared a Ponzi and a scam-waiting-to-unfold by the Philippine SEC, BSP, and media channels. No sooner than that, all FrancSwiss websites went down, the operators were nowhere to be found, and no investor received payment in the last few days.
FrancSwiss being officially declared a scam is now starting to sink in to most people. Investors have started telling their own FrancSwiss stories — including stories of financial losses, of distrust in the people who referred them to the program, and of deception, hopelessness, and confusion.
Here are some of these stories, taken from the Comments section of the article Is FrancSwiss a scam? and the HYIP: FrancSwiss discussion thread. True or not, these stories are surely something FrancSwiss investors can relate to.
Read on.
PinoyMoneyTalk.com started in 2005, initially with the aim of providing Filipinos with an objective guide to successful investing in High-Yield Investment Programs (HYIP). In our more than two years of experience in the HYIP industry, we have seen different types of investors come and go.
In this article, we present to you what we think are the three basic groupings of HYIP investors: the Cheerleader, the Naive Player and the Informed Gambler.
Which one are you?
