Is Pyes international really a charity or Ponzi scheme?

Is Pyes international really a charity or Ponzi scheme?

Pyes International says it is a volunteer-based, non-profit charity organization that provides financial resources, services, education, training and information to people who are in need of support and to people who are seeking volunteer opportunities in our community.

Promoters of Pyes international assured its investors that the platform works to coordinate and deliver human services all over the world hereby making the world a better place. They also say the aim is to provide immediate, empathic support and concrete solutions to those seeking financial support, educative information or lifelong help.

Pyes international also says that its setup to fund businesses and it has a lasting structure. If you have given up on how to source for funds for that business dream or to attain your educational goal, Pyes international is your sure bet. This is a worldwide financial charity organization with zero possibility of folding up as we are funded by top business men and established charity organizations.

One emphatic statement or feature of a charity organisation is selfless giving without expecting a return. However, like other Ponzi sites, Pyes international operates a system where investors donate or contributes to the system and get matches within a certain period. It is also a system where you are expected to register, and for instance donate about USD100000 and get a ROI of extra USD50000 within 30 days.

The investor is also expected to keep the money in the system just so it can “yield” some more interest.

The site is using an anonymous service – which prevents us from identifying the site owner. This can sometimes be just so that the owner does not receive spam, but be aware that many scam sites use this as a method to hide their identify.

Information available on the website:
You declare the willingness to donate, Say you have declared willingness to donate USD100,000. You will be rewarded in your portal with USD100,000. this USD100,000 will become USD150,000 and in a month and you will be able to receive donation for USD150,000 in the 4th week. The longer you keep the money in your Personal Account, the more it grows.

Request for making donation comes to you in your Portal. If you do not donate within 48 hours during the week and 96 hours on weekends, you will be removed from the system and can’t register with the same user information again.

You will be able to receive your donation from your Portal after 30 days.

Please note that the yield of 30-50 percent in 30 days cannot be considered as a yield or interest rate since the funds were given away in goodwill, we are not earning anything anywhere (we are a mutual-aid fund), it’s purely a reward for taking a decision to help a good course and help humanity.

Considering the above statement by proponents of Pyes international, it is clear that the operations is not clearly defined. Charity work is a philanthropic gesture towards the needy. Perhaps the scheme should be converted into a money-lending and or borrowing system where individuals who need loan get helped.

The group is also yet to declare how it comes about the ROI on investors fund, that is, how is the money being realised to ensure they pay optimally as and when due.

Schemes such as Pyes international will fizzle out when the source of the river stops flowing. As usual with Ponzi sites, once investors are unable to cash out of the system, others who have received payment on the platform will stop providing funds which leaves the system short of investors. Therefore within a short while, the site shuts down leaving investors stranded.

Although this website appears to be based in United States there are other countries involved and you should review this information carefully and decide if it is as you expect. Being a new website, does not make it legitimate, hence we advise investors to do proper background check before committing money.