Monday, December 17, 2012

Fraud, Acting, and HYIP

When something's too good to be true, it probably is, no matter how fancy / shmancy the proponents claim.

For example, one group of fraudsters claimed that they have a special high yield investment program (HYIP) offered by no less than the US Federal Government, specifically, the Federal Reserve.

Yeah, right.

Then they really piled on the sale... by claiming that this program generates so much profit, part of it goes to humanitarian purposes, like disaster relief for FEMA, part of it goes back as seed money, and part is given to the investors.

Yeah, right.

Oh, but wait, these fraudsters promise that investors get to meed a local Federal Reserve branch chairman, and head of a major bank, that'll testify that this HYIP exists.

Yeah, right.

Oh, and your money will be in an offshore Swiss Bank Account.

A program ran by Federal Reserve, *the* bank in the US of A, put money into a Swiss bank account?

If you are still enthralled by all this "crap", you are hopeless...or pretending to be.

So when some of these investors really want to meet the people, these fraudsters decide to send in a couple "ringers" (fellow fraudsters who will pretend to be the famous people).

Yep, a whole group of fraudsters all had a role to play. One's pretending to be Federal Reserve official, another as chairman of a major bank, plus assistant, troubleshooter, staff, compliance officer, and other positions.

Unfortunately for these fraudsters, their captive audience are actually undercover FBI agents. That's right, FBI agents pretending to be clueless and impressed by these amateur actors pretending to be big shots.

The head fraudster plead guilty and got 24 months.

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