HYIP/e-gold ‘Ads by Google’ Facilitate Online Investment Scams
HYIPs….what else can I write? Get rid of them forever! Hey e-gold Ltd, stop processing their accounts. Hey Google – Stop advertising them!
I’ve been writing about how bad these schemes are for the last year and I’ve told friends and associates I feel they should not do business them now for over 4 years. ALL of my words seem to have fallen on deaf ears. I don’t think anyone has made a single move to stop one, prevent one or protect others from being scammed. When Google advertises these schemes they are facilitating a phony investment….
In the most recent e-gold government allegations, these schemes are clearly responsible for some of the current mess e-gold is fighting.
First there was 12DailyPro, now there is 13adsdaily. What’s wrong with you people? If you see these things online you should be running for the hills, not sending money to them. Hey Google… stop facilitating fraudulent online investment schemes by blatantly advertising them all around the world.
My Thunderbird email client has a newsreader full of Google keywords alerts such as ‘e-gold’ and ‘digital money’ and each day (not by choice) I have to look at dozens of blog posts about current operating HYIPs. They are like the plague of locust which came 7 years ago and never left forever buzzing around and destroying lives.
For years now, I’ve been reading exactly the same thing, “Oh, that investment turned out to be a scam”, “I lost my money…scam”, “This one is not a scam, I invested and made money” always followed by…”just click my referral link here and you can too.”
One blog which regularly appears and I saw a post just this morning is Dolphinswink which came up under keyword alert ‘e-gold’ and had this to say….”XXX continues to perform solidly. Almost $900K in payouts have been done since it opened and they’ve also generated over 3000 in member sign ups.” Followed of course by the referral link banner which screams something like click here you to can be a millionaire. Another steaming pile of truth.
Furthermore, if you walk into a US Post Office or any US check cashing store (MSB), pull out $6000 USD in $10 and $20 dollar bills ask to buy money orders you will walk out of the location and the operator you just dealt with will follow up your visit with an SAR, a government ‘Suspicious Activity Report’ they file with the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury through the IRS Detroit Computing Center. The reports are then made available electronically to appropriate law enforcement agencies.
If I try the same with any US bank, and deposit or exchange over $10,000 in green cash, they will require me to fill out and sign a CTR, ‘Currency Transaction Report‘. Even if you win a few thousand playing cards in Las Vegas, the tax man is there with some forms to fill out.
So I ask you, how is it, Google can advertise an HYIP that just cash flowed almost a million dollars in e-gold and no one even blinks an eye?
Exactly what is happening online? Here is a web site, soliciting an illegal investment scheme from US persons, showing cash flow of almost a million dollars unreported cash and no one even notices this 9000 lb gorilla in the room? Does that seem right? Is that within the ’spirit’ of the law which also requires you to fill out government forms on a $2500 blackjack win?
Well I have to say very loudly, e-gold, e-bullion, AlertPay….thanks for nothing. You are not doing anyone online any favors by allowing these schemes to operate through your businesses. Yes, I said allowing them or one might also consider it ‘facilitating’. The sooner you stop allowing scams to use your system, the better off we will all be. Thanks for nothing.
Lay down with the dogs and you too will get fleas.
Praise goes to Webmoney for not accepting this online trash. Thank you Pecunix for working to prevent them. Thank you PayPal, Moneybookers and anyone else who does NOT turn a blind eye and allow these scams to operate.
AND GOOGLE….arggggggg. Please review your ad program and stop allowing these scams.
I agree with you that Google Ads should no longer allow these scams to advertise on their network. The same way they blocked porn and gambling sites, they should be able to block ponzi schemes.
Moreso, the same should apply to Yahoo Paid Search and MSN adCentre as well as all other online advertising networks.
I did not know before now that Moneybookers forbids HYIP. Can you provide a URL for me to read more?
Keep up the good work.
I wanted to follow up on the enterpise/ponzi listed above and mentioned in the DolphinWink blog, they have also now closed, after processing almost a million dollars Surprise!! someone complained and e-gold has frozen 13 of their accounts effectively closing them. Well about time.
http://dolphinswink.com/lighthalzen-closes/
Mark
Hi Mark,
I appreciate your blog and find it incredibly informative. I have to admit I took a little offense to your comment regarding my promoting LightHalzen lol. But I also understand it. I’m aware these programs are ponzi’s and I make a point of making sure I state any program I am in and posting a referral link to, are indeed high risk and to proceed at your own personal risk.
I had a profitable run with LH and my experience with them personally was a positive one.
I do disagree with their re-launch though and do not plan to be part of it, as I’ve noted in my latest blog update.
Thanks for the mention of my blog though .. even if I get bad publicity sometimes, it’s still publicity ;-)
Keep up the great work here .. like I said, I find your information invaluable.
Dolphin
hi my people, i had someone telling me about all this online HYIP programmes and thats why am here on this site now. can someone kindly tell me which of the hyip’s is real my mailing there website to me at jidomis@yahoo.com . i leant that people are now making there money online, and even the person that introduced me to hyip said that those HYIPs that are using money for FOREX trading are the best. i need advice from people concerning HYIP please. regards
http://en.wikipedia.org/wiki/Hyip
HYIPs and ‘autosurf’ programs are ponzi pyramid scams to steal your money. If you send money to these frauds, you will lose it, with NO recourse to get it back, your friends are NOT telling you the truth.
Mark
which online investment is ok cos I have already bought my e-gold and ready to invest with my e-gold I don’t want to risk forex. I also got an info about data entry is this real?
You have to make a distinction between scams, which most if not all HYIPs are, versus outright criminal behaviour, which governments engage in, in requiring notification and permission to move one’s own assets.
hello,i was introduced to the investment forex online,i wanted to know if this is real,please i cant risk loosing my money.am still a student
people listen up they are all 100% well develop SCAMS,if u want to invest check this out.Doing nothing. There is no guarantee that the market will go up the first day, month, or even year that you invest in it. But there is one guarantee: Doing nothing at all will not provide for a comfortable retirement.
Starting late. Postponing your investing career is second only to not investing at all on the list of investment sins. You already know that the earlier you start the better off you are. (Take another look at the compound return example we gave above.) If you’re already past those formative twenties (you don’t look a day over 32 to us), we’ll reword this first pitfall to read: “Not starting now.”
Investing before paying down credit card debt. If you have money in your savings account and you have revolving debt on your credit card, pay it off. Many credit cards have an annual interest rate of 15% or more. Let’s say you have $5,000 to invest, but you also have $5,000 debt on your credit cards with an average annual interest rate of 18%. It doesn’t take an astrophysicist to figure out that you’re going to have to get an 18% return after you pay taxes just to break even on that $5,000. Pay the debt off first, then think about investing.
Investing for the short term. Only invest money for the short term that you’re actually going to need in the short term. Invest money in the stock market that you won’t need for at least three years, and preferably five years or longer. If you’ll need your cash next year for a down payment on a house or for the family Caribbean cruise, use one of the shorter term and safer havens for your cash, such as money market funds or CDs.
Turning down free money. You’d never turn down a dollar if it was offered with no strings attached. That’s what you’re doing if your company offers a 401(k) or similar retirement savings plan with an employer match and you’re not participating. Take advantage of all tax-advantaged, employer-matched savings programs.
Playing it safe. If you’re young, most of your investing dollars should be in the stock market. You have enough time to weather any dips in the market and to reap the rewards of long-term gains. Although you may want to transition into bonds later in life as you depend on your investments for income, stocks should make up a large portion of the portfolio of every investor.
Playing it scary. Not every investment is for everyone. Even if you’re a daredevil, you shouldn’t pour all of your money into something that could end up going down the drain.
Viewing collectibles or lottery tickets as investments. If old comic books, Barbie dolls, and abandoned exercise equipment could be used to fund retirements, do you think the stock market would exist? Probably not. Don’t make the mistake of thinking your jewelry, those Beanie Babies, or the lottery will provide for you in your latter years.
Trading in and out of the market. We believe the best approach to investing is the long-term one. Pick your investments well and you’ll reap greater rewards over the long term than you had ever dreamed possible. Trade in and out of the market and you’ll be saddled with fees that chip away at your returns, and you’ll potentially miss out on gains that long-term investors enjoy with much less effort.
Congratulations! You’ve made it through the first part of Investing Basics. (Bet you didn’t even break a sweat.) You’ve witnessed the power of compounding and you understand how some common pitfalls can ruin even the healthiest investing plan. Now, let’s turn to the various ways you can start investing