PONZI SCHEME
My friend John Doe was introduced to a forex platform that pays a monthly interest rate of 15% plus. He had the option of investing his money for six months or a year. According to the investment contract, he might withdraw his funds before the end of the investment period, but only 70% of the amount invested would be returned to him. He was eager to join this investing platform, so he conducted a background check on the investment firm, checking their corporate affairs registration, confirming their registered address, and validating the directors of the firm, but he received no tangible information.