SEC on Bank Trading and HYIPs | |||||||||||||||
By: | SEC | ||||||||||||||
Date: | 05/16/2000 | ||||||||||||||
So-Called "Prime" Bank and Similar Financial Instruments published by the Securities Exchange Commission Con artists who sell these bogus instruments frequently tell potential victims that their money will be pooled to invest in secret programs otherwise reserved for top financiers on Wall Street, or in London, Geneva, and other financial centers. These investments are often described as notes, guarantees, letters of credit, or debentures, and any supporting documentation is usually extremely complex and difficult to comprehend. No matter what anyone tells you, these so-called securities do not exist. They are all scams. You should never invest if a promoter claims:
Not surprisingly, promoters of these scams often tell investors that regulators and banks will deny the existence of these prime bank programs. The SEC urges investors to report information about the offer or sale of prime bank investments to the SEC Division of Enforcement Complaint Center at enforcement@sec.gov. For more information about how to invest wisely and avoid fraud, go to the Investor Assistance section of the SEC website. | ||||||||||||||||
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