Impossibly large returns on investments
Discussion
Friend of mine told me about someone he knows who is paying what to my mind are impossibly large returns on investments, and I’m trying to figure out what the catch is.
I don’t have exact numbers, but we’re talking about giving the individual around £300, and within a month the investment being worth about £1200.
I know it’s not entirely impossible, but there seems to be an aire of easy money about it, and for me if it seems too good to be true it probably is.
First thought was Ponzi scheme, but are there other scams to be wary of, or maybe I’m being too suspicious and it’s simply effective investing. It’s certainly a lot more than I’ve ever seen on returns on any investments I’ve had, it just doesn’t seem right to me.
The person doing the investing is apparently only about 20 and living what looks like a very rich lifestyle out of this, if it’s legitimate then full respect to them, but something feels off and I’ve said to my friend to not get involved until they do more research on how legitimate this is, and to also confirm it’s above board legally and regulatory.
Of course it may all be stories, I haven’t seen any of the actual investments or returns, might be all pie in the sky stuff or pub stories.
I don’t have exact numbers, but we’re talking about giving the individual around £300, and within a month the investment being worth about £1200.
I know it’s not entirely impossible, but there seems to be an aire of easy money about it, and for me if it seems too good to be true it probably is.
First thought was Ponzi scheme, but are there other scams to be wary of, or maybe I’m being too suspicious and it’s simply effective investing. It’s certainly a lot more than I’ve ever seen on returns on any investments I’ve had, it just doesn’t seem right to me.
The person doing the investing is apparently only about 20 and living what looks like a very rich lifestyle out of this, if it’s legitimate then full respect to them, but something feels off and I’ve said to my friend to not get involved until they do more research on how legitimate this is, and to also confirm it’s above board legally and regulatory.
Of course it may all be stories, I haven’t seen any of the actual investments or returns, might be all pie in the sky stuff or pub stories.
So apparently it’s currency trading (so forex), £60 is now £800 but needs to pass £1300 to pass stage 2(??) before any money can be taken out.
No idea what the stages refers to, the whole thing sounds mega dodgy but they still only have £60 exposure.
No idea what the stages refers to, the whole thing sounds mega dodgy but they still only have £60 exposure.
Edited by Misanthroper on Monday 22 April 20:24
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