ZeekRewards

@techweb (217)
United States
October 12, 2012 12:47pm CST
I just logged into my solid trust pay account and was informed: The US Government has requested possession of the ZeekRewards account. Please do not contact us for any refunds or reversals as none can be done. Then I read an interesting article on it in Forbes. I comment because there are some many endorsements of Ponzi schemes on MyLot that it is worth looking into how one goes down.
2 people like this
3 responses
• Puerto Rico
12 Oct 12
They are usually labeled as HYIP online and yes most of them are Ponzi schemes. I have been reading a lot about them lately and they are very risky. The idea is that they pay with money that is generated by recruiting other members. After some time it is impossible to pay everyone with the money that comes in and everything falls apart. There are people that wait for new HYIPs to come out and invest quickly and get returns of 300% for one or two years before it turns into a scam. It's risky and managing one is illegal in the U.S., as an investor you do not run into trouble with the law but you can loose all your investment if all hell breaks loose before you get your money out.
@techweb (217)
• United States
12 Oct 12
I suppose if the justice system has determined they are illegal, what that means is that people really can't be trusted to judiciously choose to not partake in them. From what I understand, its not the fact that they are hiding its a ponzi scheme that makes it illegal. In other words, if someone were to run a ponzi scheme and inform new members this is a ponzi scheme, I think its still illegal. Contrast this to lotteries which are legal yet are negative expected profit games. Odds are stated publicly and people are allowed to throw their money away. I think its great that they are illegal, listening to people push them on here, and defend them in the face of obvious evidence that they are ponzi turns my stomach a bit. I see people immediately jumping down the throat of anyone working at a capture site, but much more rarely see people commenting on these sellers of dreams.
1 person likes this
@TexLadyPj (1328)
• United States
12 Oct 12
Hero techweb I had not thought of lotteries being a form of ponzie...however that is a logical thought. I buy my ticket (if I did) to pay the winnings of the next guy. Of course there is also another government institution that is as big a ponzie as u can get... Social Security. I paid (still pay) my taxes to pay people from previous years. Workers of today are paying my social security. Just a thought.. TexLadyPj skype: patsyjpayne
@techweb (217)
• United States
13 Oct 12
Ah, I didn't mean lotteries are a form of ponzi schemes. They are a bad investment, just not so bad that the government has decided it should be made illegal. I won't get into social security ;)
@TeamCholent (2832)
• United States
12 Oct 12
Where have you been the last few months? I wouldn't worry about this site and as many mention all the time online income should be a bonus not a trusted source of finance.
@techweb (217)
• United States
13 Oct 12
Thanks, yeah, I wouldn't partake in a site like this because its obviously a ponzi scheme. I thought the article might be useful for any noob that step in hear and say hey, why am I spending my time working when I can make money with these HYIPs. And many people seem to say, yessir, give em a shot, watcha got to lose. For example, look back on how many positive JustBeenPaid threads there are on here.
@mariaperalta (19073)
• Mexico
12 Oct 12
this happened awhile back, several people have reported this. They were doing some ilegal things and their site was banned by us government.