[img_assist|nid=10006|title=|desc=|link=none|align=left|width=100|height=100]With all the scam hyips come and go everyday make you left thinking whether there is any real, reliable, honest, and trustworthy hyip that really invest or trade your money in stock, forex, commodity, etc. You keep searching and knew there must be something that you can hold onto. Deep down inside you are seeking for an opportunity to earn extra money with less effort. Well who in this world does not want it. But every time when you think you have found the hidden gem, you only end up losing money over and over again.

Then you come across with so called private hyip and semi hyip and thought these might be your chance to fulfill your dream. But what is private hyip and semi private hyip. To be honest, for us, it is no different from other common hyips which will turn to scam and vanish after some time. Usually they could live more than one year.

Two good examples of private hyip are UdachuFund and FeederFund. UdachuFund was first started in middle of 2005 and said to be as a program which handled by Udachu Financial Services that based in Panama. Then in April 2006, this company had launched another program called UdachuInvest. They claimed to trade funds in forex and equities and offered returns of up to 20% monthly with a minimum capital of $1,000 and can be compounded. The fund paid investors 80% of the generated profits on a monthly basis. Referrals received an additional 5% for profits generated by their referrals.

In addition a second level paid where 3% paid for profits generated by those referrals. What made it private was that, players who would like to join these programs could only do that if they received an invitation code from existing members. Then after gained lots of members both programs closed to new signs up.

As far as we concerned this company never produced any prove of their trading. Every real company is obliged to show their trading results as well as past performance records for members’ perusal. They are also responsible to give full details of the background of the traders, the management as well as the company. But they failed to provide all these and yet still lots of people fell into victim with this company.

By end of 2007, this company started shaking and as a consequence the company closed down with huge amount of money which belonged to players still stuck in there. Here is the last update from the management of Udachu:

”Dear Udachufund Members,

It is with great pain that I am compelled to write this email to all of you. As you know, I have been the administrator of the Udachufund for quite a long time. I have made plenty of friends along the way and most of you are on a first name basis with me. I have always tried to respond to your questions, comments, etc. in a timely manner. I think my record speaks for itself.

I am not exactly sure what is happening these days with the Udachufund, except the obvious. The fund has been closed since May of this year and refunds were promised starting June first. We all know that has not happened and unfortunately, this is out of my control because I did not handle any of the placement of the funds for investment.

As of the end of this month, the Udachufund Boquete office will be closed. I cannot continue to operate an office on my own budget and I think all of you would agree that I should not have to. When the office closes, I will be resigning as the administrator of the Udachufund. I am not sure who will be taking over in my place, but you may try to email and ask whoever answers that email.

Good Luck! I am sorry to say that even I do not get an answer anymore from that email address. I am in possession of the hard drives from the Udachufund computers and all of the e-gold and or bank records. They are in a safe place and multiple backups have been made.

I will be more than happy to share them with the proper authorities to recover any funds if possible. I guess the bottom line for all of you to know (and I think you know this already) I was only following the orders from the CFO of the Udachufund. My main job was to accept funds from e-gold or bank wires and send them on to the CFO for placement into the investments that he saw fit. I was also responsible for sending out monthly statements and processing withdrawals. As many of you know I accomplished this in a timely manner when I received the funds from the investment proceeds. I had no say in how the funds were invested.

Most of you that joined the fund were through referrals. I want to apologize to all members for not seeing this unfold sooner. To the members that reside in Boquete, Panama, you all know me and where I live. I will be more than happy to discuss any legal actions that you would like to take against the Udachufund and will as I said earlier be more than happy to share whatever information I have to help you in any way.

I want you to all know that there are at least two groups of individuals that will be taking legal action against the Udachufund. I am not sure if this will be in the form of a class action suit or not. If it is, I will certainly email everyone with the instructions that they need to follow. I have great hopes that the funds will be recovered and people will be refunded sometime in the future.

Along with the rest of you, I have also lost funds which I invested in the Udachufund which is evident on the Udachufund database for the authorities to inspect. We will all see how this plays out.

The emails addresses such as admin, refunds, etc. for udachufnd.com will expire shortly. I have created a new email address for anyone that would like to comment on this email or has a question for me. I promise to respond to all emails as all of you know I have in the past.

Again, I am very sorry to have to write this email to all of you, but from my point of view, I thought you should all know what is going on. I truly wish I had better news for all of you. It has been a pleasure to serve all of you for the last two years. I am sorry to say that this seems to have turned into a mini Enron, but I hope it eventually will turn out OK.

There is one last point that I would like to make and that is that most of you know that I was only the administrator for the Udachufund. I do not have any information on Udachuinvest or any other program associated with Udachu. Sorry.

I wish you all the best.

Tom Brockman

Ex Udachufund Administration”

And another program which called FeederFund was just similar. This program attracted players with much lower minimum capital of only $50. The Member received 75% of the net monthly return and of the remainder, 15% is retained by the FeederFund and 10% is paid out through a referral system.

The fundamental precept for the FeederFund is to invest Member's monies with investment vehicles that require higher minimums. And again to join FeederFund, player needs to get an invitation from the existing members and after some time it totally closed to new sign up. The admin also discouraged members from discussing about the program on public forums. Reason being was that their view has been to not get involved in discussion boards and forums, as it can be extremely time consuming to maintain a good standard of response and it is also very difficult when people consider 50-150% return per annum as "hardly worth the effort". Well more or less these tricks had fooled lots of members and again this program had struggled after one year of operation and finally closed down in beginning of June 2007. Here is the short update regarding the closure of FeederFund:

"Dear Member,

We regret to inform you that FeederFund is closing down due to recent events. Full information on what has happened and the liquidation process is available from the website which will be taken offline at the end of June.

Kind regards,

Matthew Calder, for FeederFund SA."

Now what about the semi private hyip? This kind of hyip is much hilarious. SwissCash, EAIndex, ABFund and many others fall into this category. The concept is quite similar with private hyip where those who wanted to join need invitations from the referrals or uplines. They gave money to their chosen uplines, then the uplines signed them up, and wired the money to the programs’ accounts on their behalf. Once the account had been set up, new members could access and made the deposit and withdrawal by themselves onwards.

This kind of programs also pretended as real companies and claimed to invest or trade funds in various investment vehicles. They also managed to live for about a year. Some programs like SwissCash offered 20% - 30% monthly return while some other programs like EAIndex offered 1% - 3% daily returns, of which if you accumulated the total returns you could earn hundreds of returns within short period of time.

These scams offered lucrative and attractive multi referral levels of up to 46% and bonuses which drove people to promote them crazily.

The funny thing was, members deposited real dollar cash but in return when they requested withdrawals, they only received so called e-points. And members traded these e-points among them for cash. What is e-point? It’s just a non monetary creation, did not back up by any real and valuable asset, and nothing determines the value of e-point.

EAIndex was started in beginning of 2006 and started to turn to scam in beginning of 2007 when this program has stopped paid. Ironically, those members promoted these scams not only over the internet but also via offline. This kind of action had brought attention from the government and when more and more people filed complaints and made police reports, the government for some countries had blocked the access to the website, tracked them down, and filed legal action to those behind the programs. It is believe that those scams were originated in south east asia. The process of retrieving the funds from bank accounts in various countries and transferring the funds are being done up till now.

In summary, in the hyip world, regardless of private hyip, semi private hyip, public hyip or whatever terms you called it, hyip remains hyip. Be careful and play smart.