| 21 August 2008
You are approached by a friend or relative who says, “I have got a great
way you can make money! You can earn 50% per month, compounded, on this scheme.
It’s not reported to the tax authorities. It’s how the super-rich
bankers make their money. You normally need at least ten million to get in,
but through my friend you can start with $5,000! I’ve been doing it for
the last four months and it really works….Look, why don’t you try
it out and see. There’s no risk anyway, because the returns are guaranteed.
You can be a millionaire by the end of the year!”
What would you do? Of course, what you should do is run, not walk, away as
quickly as possible. But you would be surprised how many people get out their
cheque books!
People often fall for these cons because they truly believe they are participating
in off-balance sheet trading carried out by senior management of big banks.
Or they think are being offered something that normally only the Rothschilds,
the Rockefellers and other wealthy families (the “illuminati”) have
the opportunity to participate in.
Bank Debenture Trading Programmes, Prime Bank Trading Instruments, Roll-over
programmes, Instant High Yield Investment Programs, Standby Letters of Credit
- do these names ring a bell? They probably do because they sound very official
– but in reality they are meaningless.
"Do roll-over trading programmes really exist?"
It's a question I'm often asked.
"Yes," I answer, "They do. I’ve investigated them in some
depth over many years and they certainly do exist. I know many people who have
participated."
"Great! How do I get involved?"
"You don't!"
I don't mean to spoil the party here, but if you are thinking of putting your
money into a high-return secret offshore investment (by which I mean anything
that purports to get you a return of 20-30% per month or even more) then think
very carefully about the wisdom of doing this before sinking your hard earned
cash into a bottomless pit. Better, contact me first.
What if you’ve already been the victim of one of these scams? The chances
of getting your money back are low, but it’s not impossible and is certainly
worth trying, provided you don’t have to pay more money upfront. Time
is of the essence, and you should contact me immediately for a referral to people
who can help. Our expert contacts include a former Scotland Yard officer who
now specialises in due diligence on offshore hedge funds.
I've met clients who have, literally, taken out a second mortgage to join a
roll-over programme. I do know clients who have made a lot of money from what
they believe to be a legitimate high yield investment programme. Most of the
scammers who run these programs make some payouts, because that encourages positive
feedback and gets more victims to send money in. But I also know more people
who have lost the lot, because they were too greedy to know better.
If you would like to know more about this murkier side of offshore investment,
read the white paper “HYIP-Hype” which is available for free download
in the members’ section at www.QWealthReport.com.
Peter Macfarlane is joint editor of The Q Wealth Report an established
newsletter dedicated to informing readers about creating, protecting and growing
wealth in a secure offshore environment. It also covers international living,
banking, retiring and investing. Visit www.QWealthReport.com
to see more.
You have been reading an entry on the following blog:
The Q Wealth Report
Peter Macfarlane of The Q Wealth Report blogs on Freedom, Wealth and Privacy
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