More like a HYIP feeder fund, and considering reports that they were investing in things like Luna/Anchor it sounds like a fair description.
Madoff had feeder funds too, they're critical to reach the entire market-- as there are people who won't invest in the HYIPs directly but will once they've been laundered through a middleman who reduces the yield, making them somewhat more plausible.
More like a HYIP feeder fund, and considering reports that they were investing in things like Luna/Anchor it sounds like a fair description.
Madoff had feeder funds too, they're critical to reach the entire market-- as there are people who won't invest in the HYIPs directly but will once they've been laundered through a middleman who reduces the yield, making them somewhat more plausible.