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iYogi Alert: Beware of Internet Ponzi Fraud

02-24-2011 11:01 AM CET | IT, New Media & Software

Press release from: iYogi Inc

New York, NY, February 23, 2011: iYogi, the fastest growing provider of on-demand remote tech support services, released the first edition in what will be a series of iYogi Alert’s on Internet Ponzi Fraud, an illegal online investment. Based on its large customer panel of 400,000 subscribers, iYogi continuously monitors and publishes activities to alert other customers of online fraud and scams. Internet Ponzi Fraud, an illegal online investment system relies on new members’ funds to pay off the returns to previous investors. While Ponzi schemes are not new, they have evolved along with technology over the years into “Internet” Ponzi Fraud using email and online advertising to reach out to and communicate with potential investors. This iYogi Alert on Internet Ponzi fraud has been released to help customers differentiate between a reliable investment system and a fraudulent one.

Internet Ponzi Fraud is very common and exists in a multitude of forms. The administrators of these frauds use a variety of programs under different names and titles to deceive investors. Mostly, these fake investment schemes claim to offer extraordinary rates of return, but in reality no legitimate revenue is ever earned through any real investments. As a result, the scheme collapses when the withdrawals exceed the deposits. These scams use online advertisements and direct emails to lure potential investors with high returns.

What iYogi has to say:
"Internet Ponzi frauds are not much different from their traditional counterparts and work on the principle that most people would like to get rich quickly and are often looking for opportunities to make investments which will give them quick and high returns," says Vishal Dhar, President, Marketing and co-founder iYogi. "Potential investors must be wary of get-rich-quick schemes through the Internet which may lead them into become victims of organized fraud."

Top signs for this alert:
Here are the top signs to identify Ponzi frauds via the Internet and tips to safeguard yourself against them, according to iYogi Alerts:

1. Unreasonable Profits: Such e-mails promise you unreasonable returns. After depositing the funds into such investment schemes, the initial return of profits will be unbelievably and consistently high irrespective of the fluctuating economy or market conditions. In fact they are just too good to be true, and you should analyze before investing in any scheme whether a real high yield investment project can return you, say, 150 percent of what you invest over a relatively short span of time. Remember, there’s no such thing as a free lunch!

2. Flashy Subject Lines Promising High Returns: You may get email messages with subject lines like "High-yield investment programs", "Offshore investment", etc.

3. Excuses for Non-Performance or Delay: After the initial high returns leave you convinced that you made the right investment decision, the delay or non-payment of profits, supported by multiple excuses will start. The promoter will often blame a third party, the government or something else. Sometimes if you threaten the promoter you may end up getting paid a partial amount.

4. Refusal to Return Principal: When you demand the return of principal, you are given more excuses and no money.

5. Term and Conditions: Such schemes will mostly last for around 18 months, by which time investors figure out that they have been victims of a major fraud.

What you can do about it:
Be a smart investor. Be attentive to details and try to verify a person or company’s origin and company name and check if they are legitimate. Checking a website should not be the only mode of verification, as flashy websites can be set-up quickly and easily. You should not invest in anything you are not sure about, and must always be cautious while responding to special investment offers promising unrealistic returns, especially through unwanted e-mails. Go through all the terms and conditions before making any investment, and avoid transactions outside your country.

About iYogi
iYogi is a global on-demand services company that provides personalized computer support for consumers and small businesses in United States, United Kingdom, Canada and Australia. iYogi’s unique model, including proprietary technology iMantra and highly qualified technicians, is designed to eliminate computer-related stress and keep millions of digitally dependent consumers and small businesses always protected and productive. Only iYogi -- with its proven global expertise delivery model, intelligent customer insight systems, easy-to-use self-help tools and automated PC optimization and computer support services – offers users a simple yet comprehensive path to digital serenity. iYogi has perfected the remote technical support model to overcome the current limitations of in-store, on-site, or call center services to become the fastest growing provider of support in the industry. Major resellers and technology companies are increasingly turning to iYogi to improve customer satisfaction, reduce return rates, and deliver a compelling new-value added offering to customers. For more information on iYogi and a detailed list of technologies supported, visit: http://www.iyogi.net

Media Contact:

Matt Farrell
Global Fluency
Tel.: 646-652-5204
Email: mfarrell@globalfluency.com

Contact:
Vishal Dhar
President, Marketing
Tel.: +1-212-229-0901
Email.: vishal@iyogi.net

iYogi is a global on-demand services company that provides personalized computer support for consumers and small businesses in United States, United Kingdom, Canada and Australia. iYogi’s unique model, including proprietary technology iMantra and highly qualified technicians, is designed to eliminate computer-related stress and keep millions of digitally dependent consumers and small businesses always protected and productive. Only iYogi -- with its proven global expertise delivery model, intelligent customer insight systems, easy-to-use self-help tools and automated PC optimization and computer support services – offers users a simple yet comprehensive path to digital serenity. iYogi has perfected the remote technical support model to overcome the current limitations of in-store, on-site, or call center services to become the fastest growing provider of support in the industry. Major resellers and technology companies are increasingly turning to iYogi to improve customer satisfaction, reduce return rates, and deliver a compelling new-value added offering to customers. For more information on iYogi and a detailed list of technologies supported, visit: http://www.iyogi.net

iYogi, Inc.
12 Desbrosses St.
New York, NY 10013
Phone: 212-203-2681
vishal@iyogi.net

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