Experiences with High Yield Investment Programs Hyips

One such site that I believe to be a scam is Forex Enterprises. It is owned and operated by Nick Marks. The Better Business Bureau’s rating of this business is an F, the lowest grade. They give the F rating for the following reasons;
F We strongly question the company’s reliability for reasons such as that they have failed to respond to complaints, their advertising is grossly misleading, they are not in compliance with the law’s licensing or registration requirements, their complaints contain especially serious allegations, or the company’s industry is known for its fraudulent business practices.
On the home page there is a picture of a folded newspaper that this guy claims is a story about how he got rich that was published in a local newspaper business magazine. It is obvious that this is just a ploy to sound legitimate. If it were real he would give the name of the publication it appeared in. I emailed this company 5 days ago requesting the name and date of this publication. I have yet to hear from them. If this newspaper article were real he would have included the name and date and the whole story.
He also operates under the following names, Forex Enterprise, Marks Enterprise, Freebizopps, and Forex Enterprises. He also uses two different addresses; 2390 Crenshaw Blvd. #257, Torrance CA 90501 and 11432 South Street #222, Cerritos CA 90703.
The BBB started their file on this Company(s) on 6/29/2006 and have received 26 complaints in this time. In 22 instances the company gave a full refund as requested by the customer. 4 of those complaints have gone unanswered.
On January 10, 2007 the BBB asked the company to substantiate that respondents are making $30,000.00 per month working only one or two hours per week. To date the company has not yet responded with this information.
There are no licensing or registration requirements for companies offering these types of programs. I think there should be as most of these companies are just scams. Many of these businesses advertise outside of the state they are located in to avoid prosecution. The monetary amounts don’t warrant sending officers out of state to lay charges.
There should be a movement to force government to deal with this situation and force these companies to apply for permits and prove what they are offering is legitimate.