Fergie's Tech Blog

Feds Probe Web Sites Offering Big Paydays

Via CNN/Money.

Federal and state authorities are investigating Web sites that promise to generate generous returns to viewers who look at their ads, according to a report published Friday.

These so-called "auto surf" sites are Internet versions of a classic Ponzi scheme, a type of fraud that promises vast returns to investors but pays them with money from subsequent investors instead of revenue generated by business, the Wall Street Journal said.

posted by Fergie @ 2/10/2006 09:43:00 AM