Welcome to our in-depth review of the newest PONZI scheme. Don’t blink, because this one won’t last long before it disappears with all your money!
We don’t typically review PONZI schemes, but this one is personal. One of our readers emailed us a few days ago and asked us for our opinion.
What we are going to say may surprise you. Some of you won’t like it. That doesn’t matter.
We are going to tell the truth and give our real opinion into the nature of PONZI schemes. Keep reading to find out what Business Devils is actually trying to do!
Business Devils defines themselves as an “investment company”. That term is pretty broad and doesn’t really tap into the bigger picture.
So let’s break it down. What exactly is an “investment company” and why should you be leery of them?
Investment companies are a lot like banks. Banks require you to deposit a sum of money into them, which they then invest and give you back a small percentage in the form of interest. This is how they make money.
Banks typically give you a very small percentage yearly or monthly. This hovers right around 1-2%.
Investment companies offer a much higher percentage.
When you deposit a sum of money with them, they invest this money in order to make a profit for themselves. They also share some of this profit with you.
Is Business Devils a HYIP?
This means that they will claim to be giving you an incredibly high-interest payment in a very short amount of time.
When a high interest is paid out from an investment it is referred to as a HYIP or “high-yield investment program”.
In the case of Business Devils, they promise you a 4% *daily* return on your investment. Most banks don’t even offer 4% in a month!
It is obvious that Business Devils is offering you substantially more than a regular bank would. This is why they have such a high appeal.
What is the problem with HYIP investments? The Ponzi Scheme.
This is where the problem comes in. They guarantee you a 4% daily return, but what they don’t tell you is where this 4% is coming from.
They claim to be investing and making huge profits, which they then share with you. Two things are important to note here.
1. Business Devils does not reveal where or how they will invest your money.
2. The 4% daily profit is not coming entirely from this investment. It is most likely coming from the new deposits of the people who sign up after you.
Number 2 is important because this is what makes it a Ponzi scheme.
How are we so sure that this is a Ponzi?
What is a Ponzi? Wikipedia defines a Ponzi scheme as:
“pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.”
Business Devils claims that when you deposit money into your account on a Monday, you will immediately earn 4% starting that day, which you can withdraw on Tuesday.
This means that your money has already earned interest as high as 4%. Where did this money originate from? It couldn’t have come from an investment, as there is no investment that would have already paid within one day to the Business Devils.
This money is coming from the new registrations of new members who are depositing money after you do. Your deposit was also given to the members who invested before you.
Does Business Devils Work?
Ponzi schemes, such as this one, are notorious for closing up shop and running off with the money. They do so by simply going bankrupt. They are not required to carry the same insurance that banks do.
Because they have no insurance, if they lose your money, you will have no way of recovering it.
However, sometimes it is possible to make a little bit of money with a Ponzi. How?
If you are one of the first investors, you stand to make a little bit of money. This is because they typically pay out withdrawals for the first few weeks to build up trust in their clients.
Just remember. If you plan on being one of the first investors, make sure you are finished withdrawing all your money within the first month or two, before they stop paying.
Despite this possible gain, we NEVER recommend a Ponzi. They are too risky and are all around bad investments.
Where is Business Devils Investing My Money?
We don’t know, and neither do they.
Absolutely nothing on the Business Devils website tells us where exactly our money will be invested in order to make money.
They don’t reveal anything related to their investing service.
This is highly suspicious. Why aren’t we told where our money is going?
Why are we kept in the dark about how our money will be invested?
The obvious answer to these questions is simple.
Business Devils isn’t revealing where they will invest our money because they aren’t planning on investing it at all.
They will simply take in as much money as they can before closing up their business and disappearing.
Verdict and Solution: Is Business Devils a Scam?
Business Devils is a SCAM!
How long they last before going under is a question yet to be answered.
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