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Microcap & Penny Stocks : HITSGALORE.COM (HITT)
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To: Q. who wrote (4917)1/13/2000 12:37:00 AM
From: Q.  Read Replies (1) of 7056
 
Here's the deal: "4% per week for 40 weeks per year and that the investment would be secured by an equivalent amount in cash or bank guarantees."

That, my friends, is a classic HYIP scam. An incredibly weekly interest rate accompanied by some non-existent "Bank guarantees."

The promised ROI of 4% per week works out to a compound annual growth rate of 668%. That's at the high end for HYIP scams. But then the $3.3 M that the victim invested was also unusually large.

In this case, LFT had a middleman between it and the victim. LFT was to pay the middleman at essentially the smae terms that the middleman was to pay the victim. This distinguishes the Gillaspie case from the Marasco case, where the victim apparently contracted directly with LFT, after the middlemen in that case introduced them.
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