70 day invest 200K and get 12%=24K risk?????

Question

My friend tells us at dinner last night the he invested 200K for 70 days and will get 24K. is this a scam? He did this with 10K and got back 1200.00. So now he trusts this company with 200K . I thank its a bait and swich scam. Did any one see this scam ????????

Answer 1

ive never seen this scam before but it is really clever... there is no such thing as a sure thing... 70 days gives the scammer plenty of time to run before your friend starts looking for the people... by that time.. the money is gone and so are they... something illegal might be going on there... every investment that ive ever had to make took about 200 pages of paperwork...

Answer 2

i think what they mean is they invested 200K for 70 days and will get 24K back

loss = 176K

Answer 3

Bermuda8 has it right.   It's a Ponzi scheme.

They draw you in with a small amount, like your friends $1000.  

Now that your friend has put in $200K,  it's unlikely he will ever see that money again.

At least you are wise enough to ask this question in the forum before you committed any money.

Answer 4

This is a scam. it is called a Ponzi scheme. http://en.wikipedia.org/wiki/Ponzi_schem...

Tell your friend to get out as soon as possible. And to read about them.

Answer 5

Actually, it depends where he invested his money. Did you try the forex trading market (the biggest market on earth today. It has a daily turnover of more than 2.5 trillion US$ (more than 100 times greater than NASDAQ), and it's still growing.)

http://ads.easy-forex.com/Gateway.aspx?g...