Panama HYIP: Illegal or Legal?

[Qgb]

Hello,

I want to run a HYIP, i want to do this in a couple of years time.

1. First, I'm going to purchase an offshore bank account in Panama.
2. Purchase a Template and get it scripted.
3. Purchase an Offshore & Anonymous Dedicated Server.
4. Fly to Panama
5. Run the HYIP
6. Then transfer the money into the Panama Bank account.
7. Fly Back to the UK.

What i would like to know is this Illegal or Legal, I've heard it is Legal to run it in Panama.

Many thanks.

[rickinnocal]

First off, I doubt very much that these scams are still legal in Panama - Panama has been clamping down hard on offshore frauds recently.

Second, since Panama is not a refuge country, the UK government could still prosecute you if any of your victims were Brits, the US government could prosecute you if any of them were Americans, etc etc etc.

Richard