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Is it legal in the US to invest in a HYIP program I know its

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Is it legal in the...
Is it legal in the US to invest in a HYIP program? I know it's risky and everyone says its a scam, but I'm fine with the risk and believe in the program that I want to invest in. I just want to make sure it's legal to invest in the USA and as long as I report my earnings to the IRS, I should be fine!!??? Primfix.com is the site.
Submitted: 6 years ago.Category: Legal
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Answered in 1 hour by:
9/1/2011
Lawyer: N Cal Atty, Lawyer replied 6 years ago
N Cal Atty
N Cal Atty, Lawyer
Category: Legal
Satisfied Customers: 9,437
Experience: attorney at self
Verified
My opinion is that this is a scam, see
http://www.ripoffreport.com/investment-brokers/primfix-com/primfix-com-scam-ponzi-scam-a-8cfbb.htm
which states
Complete and utter thieves and scammers of the worst kind.

I hope this information is helpful.
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Customer reply replied 6 years ago
Relist: Other.
Didn't answer my question. I want to know if it's legal to invest in HYIP in the USA. I would be investing at my own risk though.
Lawyer: Alex J. Esq., Attorney at Law replied 6 years ago
Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Legal
Satisfied Customers: 16,723
Experience: Experienced Licensed Attorney
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Hello. My name is XXXXX XXXXX I will be happy to answer your question.

Yes.

You can invest in anything that you like, as long as you are not doing anything illegal personally.

If you are satisfied with my answer, I would appreciate if you would click on the accept button.
Please keep in mind if you already made a deposit or on a monthly subscription plan you will not incur any additional charges, but I will only be compensated for my time and effort only if you click on ACCEPT.

Bonus and positive feedback are always greatly appreciated!



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Customer reply replied 6 years ago

Thanks! What happens if the business turns out to be illegal...would I get in any kind of trouble? Do you know what form I would use to file income tax on the profits made from HYIP?

Lawyer: Alex J. Esq., Attorney at Law replied 6 years ago
As long as you are personally not engaging in any illegal activity, you would not generally get in trouble.

Your second question should be posted in our Tax category.


If you are satisfied with my answer, I would appreciate if you would click on the accept button.
Please keep in mind if you already made a deposit or on a monthly subscription plan you will not incur any additional charges, but I will only be compensated for my time and effort only if you click on ACCEPT.

Bonus and positive feedback are always greatly appreciated!
Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Legal
Satisfied Customers: 16,723
Experience: Experienced Licensed Attorney
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Alex J. Esq. and 87 other Legal Specialists are ready to help you
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Lawyer: Alex J. Esq., Attorney at Law replied 6 years ago
Do you have any related follow up questions that I can answer for you or do you need me to further clarify my answer for you?
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Alex J. Esq.
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