The thing that you have to remember with Madoff, however, is that while his annual returns may have passed the smell test, the complete lack of volatility in his returns was incredulous. There were many warning signs. Madoff's purported strategy was to trade a basket of S&P 100 stocks and hedge using options. His returns showed that he made money almost every single month using this strategy regardless of what the S&P was doing, which is ridiculous. Many people on Wall Street chose to stay away from Madoff for exactly this reason. No one could reverse engineer his results using his purported split-strike conversion strategy. Harry Markopolous did the due diligence and served Madoff on a plate to the SEC. They were just too stupid or incompetent to take heed of his repeated warnings. No truly knowledgeable investor should have been duped by Madoff. The fact that so many were shows that they were 1) lazy and 2) greedy. Bernie did tremendous and long lasting damage to the entire industry, undoubtedly, and must be a complete psychopath.
This information was posted in a forum so please do 100% due diligence/background check for it. I have nothing to do with it. PrivatBank in Cyprus pays up to 12.5% annually. Depending on the length of the investment and amount invested. Nicosia Central Office Address: 3, Kallipoleos avenue, Geogas Tower, 3rd floor, CY-1055, Nicosia, Cyprus Phone: +357-22750378 Fax: +357-22750608
There is another person who has posted in forum: "Legal banks in my country pay 1% or about that per month Make a deposit into bank in our country and you will get 13% officially every year without any problems legally!. Any investor who wants to deposit into official bank and get constant profit 13% every year guaranteed by government" Now, I do not know which country this person belongs to, but I found his email address. If he replies to me I will post the information here.
Moody's affirms PrivatBank AS's ratings (B2/NP/E+); outlook remains negative Rating date October, 2010 The Cyprus branch's corporate parent in the Ukraine. (Source: Info-Prod Research (Middle East))Moody's Investors Service has today affirmedthe E+ bank financial strength rating (BFSR) and the B2 long-term debtand deposit ratings of PrivatBank. The outlook on the bank's BFSR andlong-term deposit ratings remains negative. The bank's Not Primeshort-term rating was also affirmed. PrivatBank's BFSR remains positioned in the E+ category, reflecting: (i) a modest private banking franchise; (ii) very high borrower concentration in the bank's deposits and the customer loan portfolio; (iii) very highlevel of problem loans, which account for almost half of the customerloan portfolio; (iv) a negative net interest margin at the end of June2010 and declining pre-provision profitability; and (v) limited riskmanagement and control. In addition, the bank's B2 long-term deposit rating continues to reflect Moody's assessment that there is a moderate probability of parental support from Ukraine's Privatbank Commercial Bank (B3/NP/D-), which owns 75% of the bank's capital, which results in a one-notch uplift from theB3 baseline credit assessment (BCA). Furthermore, Moody's continues tobelieve that there is no probability of systemic support for PrivatBankin the event of a stress situation. The negative outlook on the BFSR and long-term deposits primarily reflects Moody's expectation that downward pressure on the bank's net interest margin as well as the potential for further deterioration inasset quality will continue to weigh negatively on the bank's performanceand that it will take time for sustainable profitability to be restored. PrivatBank's ratings could be negatively affected if (i) credit qualityweakens beyond current levels, which already exceed Moody's stressed-casescenario, thereby exerting pressure on the bank's replenishedcapitalisation level; or (ii) further weakening in the bank'spre-provision income. Any sign of significant deposit withdrawals couldalso have a negative effect on the bank's ratings. A revision to a stable outlook for PrivatBank's BFSR and long-term deposit ratings could stem from a significant reduction in problem loan levels and a sustainable improvement in pre-provision profitability as well as a reduction of deposit and borrower concentrations. Moody's previous rating action on PrivatBank was implemented on 12December 2008, when the long- term deposit rating was downgraded to B2from B1. Headquartered in Riga, Latvia, PrivatBank reported total consolidatedassets of around LVL238 million (EUR339 million) at the end of June 2010.
"There are some banks in other countries that pay 10% to 12% per year. " The operative term open to subjective interpretation being the word "bank" with all of the connotations associated with security - depositor insurance protections, funds segregation, and transparency.
My friend's brother-in-law actually used the website what the OP is looking for. He was in it for 10 months I think and in the beginning he did get back the 1% daily. Of course he got greedy and put MORE money into the account. Then MORE. About 6 weeks ago the website disappeared with the money, what was quite signifficant for him at 70K dollars. I kept telling to my friend that there is NO WAY to make such returns consistently and legally and anyway if someone could, why not just get a bank loan with 12-20% annual interest instead of 1% daily interest? Well he was stupid and he did pay the price. The website was targeting mostly Europeans, specially from the Eastern part. If the OP wants to know, I can ask for the exact name of the website, I should get it in a few days. Once the website disappeared only a few hundred investors left crying on a messageboard, I will get that address too... By the way if I got the whole story correctly, there is no legal way to get the money back, because there was a disclosure that there is NOTHING guaranteed and the whole investment can be lost. So they covered their ass, and the governments probably don't give a damn, not to mention the jurisdiction is questionable since so many countries were involved.... Edit: After a quick websearch, I already forgot about 1% daily when there are 3+% offers all over the place: http://hyipbanker.com/
The email bounced back and this person is banned from the forum. But I will still try to get some information.