Thursday, June 14, 2012

Investigating HugeYield... it's just a clone of HYIP ponzi scheme

International Money Pile in Cash and Coins
International Money Pile in Cash and Coins (Photo credit:
It is "easy" to make a bit of money on the Internet, if you start scams and trick people into giving you money.  It is, of course, illegal.

On the other hand, it is possible, but not likely, for you to make money off such schemes not started by you. And the lure of such profit is what keeps people pushing them. When MLM 'veterans' who had been in the "industry" for decades started to push such schemes, often known as HYIP (High Yield Investment Programs), it's indeed sad to see such people fall.

One such a scheme is called "HugeYield", and it was pushed by two MLM "veterans" who had subsisted on other participants for decades, without finding much success. They are also apparently the owners, though they insist some generic-name person is the owner.

Modern HYIPs are always on the internet, and to disguise their Ponzi-scheme business model, they usually adopt a disguise. The most frequently used is "advertising", i.e. you are supposedly buying advertising units, but if you recruit enough people (who also buy such advertising units) you will make your money back and earn much more than you put in. HugeYield is no exception.

There are some people who know the risk of putting money into a scam, but is determined to "time" these scams any way, as they think they can beat the odds by joining early and be one of the early winners, and leave all subsequent joiners holding the bag. I personally consider that to be despicable, but that's just my opinion.

Read more about this Internet Ponzi scheme
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