HYIP schemes

“[Eighty] per cent of crime committed online is now connected to organized gangs operating across borders. Criminal gangs now find that transnational and cybercrime are far more rewarding and profitable than other riskier forms of making money.” – INTERPOL President Khoo Boon Hui at 41st European Regional Conference held in Tel Aviv, citing study from [...]

At the moment, Google News is providing an interesting juxtaposition on the subject of JSS Tripler, the purported arm of the “JustBeenPaid” program that does not identify itself with a nation-state, makes members affirm they are not with the “government” and advertises an absurd monthly return of 60 percent. Frederick Mann, the “opportunity’s” purported operator, [...]

This will be a familiar refrain to many readers of the PP Blog: In July 2010, the Blog reported that the Financial Industry Regulatory Authority (FINRA) had launched a public-awareness campaign about HYIP fraud. FINRA called the HYIP sphere a “bizarre substratum of the Internet.” Just a month earlier — in June 2010 — the [...]

The ink was barely dry on the most recent civil judgments for millions of dollars against serial HYIP pitchman Matthew J. Gagnon when Compound150 launched yesterday. On Tuesday, the SEC announced $4.2 million in new court-ordered assessments against Gagnon, who’d earlier been hit with more than $2.5 million in assessments in a related case and [...]

In a 29-page court order announced yesterday by the SEC, U.S. District Judge George Caram Steeh of the Eastern District of Michigan laid out the case of willful blindness against serial HYIP pitchman Matthew John Gagnon. That case now has resulted in court-ordered judgments of more than $4.2 million against Gagnon, who also was named [...]

UPDATED 10:35 P.M. EDT (U.S.A.)  Matthew John Gagnon, an HYIP huckster and promoter of the Legisi Ponzi scheme, has been hit with orders of disgorgement and penalties totaling more than $4.2 million, the SEC said. Gagnon, of Portland, Ore., and Weslaco, Texas, was described by the SEC as a serial promoter of fraud schemes through his [...]

It sometimes is the case in the corrupt universes of HYIPs that a change in the status quo signals panic or devastating news. It’s also sometimes the case that significant developments get explained away as meaningless or part of a plan that had been in place all along in response to explosive growth. It is [...]

UPDATED 2:57 A.M. EDT (U.S.A., MARCH 27) Vague information about JSS Tripler/JustBeenPaid is all over the web. The “opportunity” purportedly operated by Frederick Mann is targeting investors in Canada, the United States and many other countries through conference calls, videos and text pitches. The PP Blog has listened to recordings of four JSS/JBP conference calls [...]

“Where does JustBeenPaid get the money to pay that kind of interest?” — Caller “Michael” from “San Francisco” in March 15 JSS Tripler/JustBeenPaid conference call “Well, first of all, JBP or JSS Tripler is a revenue-sharing program, so that means some of the money comes from new members buying positions. Then, we are in the [...]

In November 2011, the PP Blog reported that Bogdan Fiedur of AdLandPro had threatened antiscam site RealScam.com with litigation. The bid to chill RealScam in the age of international mass-marketing fraud featured the registration of a domain styled RealScamClassActionSuit.com. With Fiedur trolling for suckers and hoping to make his intellectual dishonesty go viral, RealScam did [...]

EDITOR’S NOTE: For the purposes of this column, the PP Blog is reporting on only a small number of references to JSS Tripler/JustBeenPaid in the past 24 hours, as compiled by Google’s “Past 24 hours” feature. Google also has a “Past hour” feature. At the time of this post, Google is reporting “About 3,970″ indexed [...]