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Problem A company disappears, along with all the money

I am having an issue with a company
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TradeLite was a HYIP site. It had a guaranteed large percentage of return on investments. Evidently, it was paying out some money, since a large number of people invested heavily based on how it was rated on some HYIP rating sites.

A few weeks ago, the website went down and all communications ceased. By this time, numerous people had invested money in this company, some of them heavily. The FPA also tried to get in touch with TradeLite, but messages either bounced or were not returned.

As far as we can tell, TradeLite was some type of Ponzi scheme. Ponzi schemes pay our high interest rates to initial investors and use new investments to continue to make these payments. Such a scheme cannot continue indefinitely.

A few months ago, we asked the FPA Review Moderation Team to label any new HYIPs listed with a note cautioning people about this form of investment. We hope that all other HYIPs listed under Managed Forex Accounts in our reviews can be identified soon. Then caution notes can be added to those pages too.

Some HYIPs may really do some type of investing. Many of them have no investments and are just Ponzi schemes. The FPA urges people never to place money with this type of company unless you understand that the company can disappear with no warning.

It is our hope that the victims of TradeLite band together and share information. We hope this leads to the people behind the company being caught and brought to justice.


Formal Scam Confirmation against TradeLite.net

Original complaint against TradeLite.net
 
I wonder what fraction of a percent of HYIPs aren't really just Ponzi schemes???

I'd guess it would be less than 1/10 of 1%.
 
Go Ahead

:) As a HYIP institution, can FPA close tradelite.net sites and investigated everyone who's responsible thats corporation?
 
i have been in that kind of so call industry for 5 year when it earlier blooming. most of the hyip 99.9% are ponzi scheme which will only last max 3 years. that the reason i jump into forex trading. it much more visible then handling money to ppl and let it be for profit.

HYIP hard freaking facts
1) 110% risky, money are not control at your hand,
2) disappearing act are for sure from each HYIP company it sooner or later
3) tempting return but a death deal :mad:


Forex trading goodies:
1) return/loss % is control by user :p
2) news news news that the indicator ;)
3) risk is at your hand :D
 
luigicamey los angeles ca.

I invesment in tradelite.net on oct.28 from swapgold the problem them isn't
responsability for money tranfered a tradelite, i think so lossed my money.
I am will expect about news maybe caught tradelite's owner.
 
Puzzling

After over 25 years of trading Forex, it is still puzzling to me to realize how many people go for HYIP web sites
There has not been ONE singlel HYIP that was indeed a real business. Most of them last for a few weeks, sometimes months, and in rare cases more than a year.
Has word not gotten out yet that they are scam sites?
 
As far as I am concerned the real problem with these HYIPs are you and I who patronize them. You want to know why I said that? Look at this for example….
INVEST $250 AND EARN $15,000 IN TWO WEEKS!!
People see stuffs like that and they don’t ask questions, they don’t want to know how, “Just 250bucks”? You hear them say and they jump at it. Then a month later they start crying. The truth is that some of these HYIPs entail a lot of hard work and I mean real, aggressive marketing but people are either too lazy or blinded by greed and we don’t want to admit it.
If you want to buy a house, a car, even clothing or anything of real value wont you ask questions? Or even do a proper inspection or due diligence? Wont you take your time to make up your mind after seeking tons of counsel? But we hardly take investment this way and that’s why we often get burnt.
Making money in any legitimate way involves WORK! Period.
Only that I prefer smart work to hard work……..
 
Re: A company disappear"

I do completely agree with omo9ja, becaunse there is an adage in my Yoruba language that " he that seeks for the cheapest way to success will always have failure awaiting him on the way" There's another that says "easy come, easy go".

In as much as I pity the victims, I still have to blame them for not being analytical enough before taking a plunge into the deep blue sea.

Regards.
 
After over 25 years of trading Forex, it is still puzzling to me to realize how many people go for HYIP web sites
There has not been ONE singlel HYIP that was indeed a real business. Most of them last for a few weeks, sometimes months, and in rare cases more than a year.
Has word not gotten out yet that they are scam sites?

Hey Joa, are you saying that forex is an HYIP or did I missunderstand you?
 
In HYIP there is no "company" just a scam...

No matter how many times the old saying "If it sounds too good to be true, it probably is" is repeated, we still fall victim to the big "G" (greed).

There is no free lunch, people. Get over it. When you want something for nothing -- you end up getting nothing.

Hey, I've been there too. And I know HYIP's are virtually all ponzi schemes. You do too. :shocked:

I agree with omo9ja and advise you to avoid them.

PD
 
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