A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors.
Read more about High-yield Investment Program: Mechanics
Famous quotes containing the words investment and/or program:
“The only thing that was dispensed free to the old New Bedford whalemen was a Bible. A well-known owner of one of that citys whaling fleets once described the Bible as the best cheap investment a shipowner could make.”
—For the State of Massachusetts, U.S. public relief program (1935-1943)
“If Los Angeles has been called the capital of crackpots and the metropolis of isms, the native Angeleno can not fairly attribute all of the citys idiosyncrasies to the newcomerat least not so long as he consults the crystal ball for guidance in his business dealings and his wife goes shopping downtown in beach pajamas.”
—For the State of California, U.S. public relief program (1935-1943)