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Clearly a scam like scores of other Ponzi systems promising high yields from obscure investment programs.

It can be easy to get sucked into plausible scams of this kind. I remember a few years ago there was PIPS (People in Profits system) It was very convincing and in fact the directors were quite public and manged to convince millions of people world wide that this was their Tatts ticket to finacial freedom.

It did evidently collapse but managed to score a record as one of the most successful Internet scams of its type.

I thought it was a particularly plausible and well done scheme (it managed to suck in a few friends ) and attempted to get ASIC to take action. No luck at all. They waited until it fell over before riding to the rescue.

Of course there are still plenty of current similar scams in operation.

http://www.guardian.co.uk/money/2004/dec/11/scamsandfraud.jobsandmoney
http://www.scam.com/showthread.php?p=41152

Todays version of the 2004 PIPS scheme

http://www.forexnewschannel.com/tag/million-dollar-pips-scam

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Have to say after reading their website there is no hint of it being a scam. I imagine that the promise of unrealistic returns comes when you start to talk with the people. I could see how this could convince many people on particularly if on paper it seemed to be "successful" in the short term. -

<blockquote data-quote="basilio" data-source="post: 657104" data-attributes="member: 18692">Clearly a scam like scores of other Ponzi&nbsp; systems promising high yields from obscure investment programs.It can be easy to get sucked into plausible scams of this kind.&nbsp; I remember a few years ago there was PIPS (People in Profits system)&nbsp; It was very convincing and in fact the directors were quite public and manged to convince millions of people world wide that this was their Tatts ticket to finacial freedom.It did evidently collapse but managed to score a record as one of the most successful Internet scams of its type.&nbsp; I thought it was a particularly plausible and well done scheme&nbsp; (it managed to suck in a few friends )&nbsp; and attempted to get ASIC to take action. No luck at all. They waited until it fell over before riding to the rescue.Of course there are still plenty of current similar scams in operation.<a href="http://www.guardian.co.uk/money/2004/dec/11/scamsandfraud.jobsandmoney" target="_blank">http://www.guardian.co.uk/money/2004/dec/11/scamsandfraud.jobsandmoney</a><a href="http://www.scam.com/showthread.php?p=41152" target="_blank">http://www.scam.com/showthread.php?p=41152</a>Todays version of the 2004 PIPS scheme<a href="http://www.forexnewschannel.com/tag/million-dollar-pips-scam" target="_blank">http://www.forexnewschannel.com/tag/million-dollar-pips-scam</a>_________________________________________________________________________Have to say after reading their website there is no hint of&nbsp; it being a scam. I imagine that&nbsp; the promise of unrealistic returns comes when you start to talk with the people. I could see how this could convince many people on particularly if on&nbsp; paper it seemed to be &quot;successful&quot; in the short term. -</blockquote>

[QUOTE="basilio, post: 657104, member: 18692"] Clearly a scam like scores of other Ponzi systems promising high yields from obscure investment programs. It can be easy to get sucked into plausible scams of this kind. I remember a few years ago there was PIPS (People in Profits system) It was very convincing and in fact the directors were quite public and manged to convince millions of people world wide that this was their Tatts ticket to finacial freedom. It did evidently collapse but managed to score a record as one of the most successful Internet scams of its type. I thought it was a particularly plausible and well done scheme (it managed to suck in a few friends ) and attempted to get ASIC to take action. No luck at all. They waited until it fell over before riding to the rescue. Of course there are still plenty of current similar scams in operation. [url]http://www.guardian.co.uk/money/2004/dec/11/scamsandfraud.jobsandmoney[/url] [url]http://www.scam.com/showthread.php?p=41152[/url] Todays version of the 2004 PIPS scheme [url]http://www.forexnewschannel.com/tag/million-dollar-pips-scam[/url] _________________________________________________________________________ Have to say after reading their website there is no hint of it being a scam. I imagine that the promise of unrealistic returns comes when you start to talk with the people. I could see how this could convince many people on particularly if on paper it seemed to be "successful" in the short term. - [/QUOTE]

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