A good ole standby fraud program is making the rounds again.  This has to deal with the non-existent Prime Bank Notes or Bank Debenture fraudulent investment program.  The major thrust of this type of scam is these bank instruments are traded by all the world’s major banks.  Up until now, the little guy has not been able to avail themselves to this lucrative market, but now that has all changed.  A group of wealthy investors have now decided they will make these bank instruments available to the common man so they too can become wealthy.  Now understand, since these programs are heretofore only available to the wealthy, not a lot of information is known about them by the general public.  To add to this story they even claim that many brokerage houses while aware of these transactions, cannot reveal them or allow their customers to participate.  Any Red Flags going off yet?  Well, they should be.  I have already listed at least 3 that should make you very leery of getting involved.  But here is typically how they are promoted to you, and everyone is a Red Flags:

Investment pitches frequently are vague about who is involved in the transaction or where the money is going. Promoters may try to explain away this lack of specificity by stating that the financial instruments are too technical or complex for non-experts to understand.

Promoters frequently claim that investment opportunities of this type are by invitation only, available to only a handful of special customers, and historically reserved for the wealthy elite.

Promoters claim that transactions must be kept strictly confidential by all parties, making client references unavailable. They may characterize the transactions as the best-kept secret in the banking industry, and assert that, if asked, bank and regulatory officials would deny knowledge of such instruments. Investors may be asked to sign nondisclosure agreements.

Despite having credible-sounding names, the supposed "financial instruments" at the heart of any prime bank scheme simply do not exist. Exercise caution if you've been asked to invest in a debt obligation of the top 100 world banks, Medium Term Bank Notes or Debentures, Standby Letters of Credit, Bank Guarantees, an offshore trading program, a roll program, bank-issued debentures, a high yield investment program, or some variation on these descriptions.

Prime bank programs often claim investors' funds will be used to purchase and trade "prime bank" financial instruments on clandestine overseas markets in order to generate huge returns in which the investor will share. However, neither these instruments, nor the markets on which they allegedly trade, exist. To give the scheme an air of legitimacy, the promoters distribute documents that appear complex, sophisticated and official. The sellers frequently tell potential investors that they have special access to programs that otherwise would be reserved for top financiers on Wall Street, or in London, Geneva or other world financial centers. Investors are also told that profits of 100% or more are possible with little risk.

Promoters frequently claim that the offered financial instrument is issued, traded, guaranteed, or endorsed by the World Bank (Department of Institutional Integrity (INT) or Operations Evaluation Department) , International Monetary Fund (IMF), Federal Reserve, Department of Treasury, International Chamber of Commerce (ICC), or an international central bank.