High-yield investment program

A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. == Mechanics == Operators generally set up a website offering an "investment program" which promises very high returns, such as 1% per day (3678% APY when returns are compounded every day), disclosing little or no detail about the underlying management, location, or other aspects of how money is to be invested.

Source: Wikipedia — High-yield investment program (CC BY-SA 4.0)