Hi! Thanks for an interesting question.
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It seems that the Public Treasuries website of the US Government has
the answer for you, and based on the 100% a week claim of daily
return, this is probably a type of Prime Bank Instrument Fraud.
They say it goes by the name of:
?Prime Bank Debenture Trading?
?Prime Bank Instruments?
?Trades or Letters of Credit?
?US Dollar Bonds?
?Medium or Mid Term Notes or Bank Notes?
Please note that these are some of the terms used in your question.
Other terms are supplied at their website. The Public Treasuries
website also says that investors usually get these types of documents
http://www.publicdebt.treas.gov/cc/ccprime1.pdf (Document used by fraudsters)
I think reading the whole page from the Public Treasuries official
website would be beneficial for you so that you will not fall for this
scheme. Please click on our next link.
?Prime Bank Trading Programs, High Yield Investment Programs, Roll
Programs and Private Placement Programs?
Truth be told however, that there are real Medium Term Notes and are
sanctioned by the SEC.
?In 1982, the SEC adopted Rule 415, which launched today's medium-term
note market. This allows issuers to continually offer medium-term
notes to investors in a manner similar to that of a commercial paper
program. Unlike a commercial paper program, the medium-term notes must
be registered, but registration is required only once every two years.
During those two years, the issuer is free to modify the medium-term
notes' nominal yield or term, as the issuer's needs or market demand
require. The process is called shelf-registration, and it makes
medium-term notes resemble commercial paper. Differences are that
medium-term notes have longer terms, are registered with the SEC, and
are usually coupon-bearing instruments, as opposed to discount
?Medium Term Note ? MTN?
The About.com website provides an explanation of the fraud as well.
But it also says that such instruments are not traded in the stock
market. You can go to PEFCO for secondary market trading of these
?PEFCO Medium-Term Guaranteed Note Facility is a secondary market
buyer of multi-year export loans that are guaranteed against
nonpayment by the Export-Import Bank of the United States ("Ex-Im
Bank") under a medium-term comprehensive guarantee.?
You can find the PEFCO website here: http://www.pefco.com/programs-gnf-medium.htm
Search terms used:
SEC "medium term notes" trading
PEFCO Medium-Term Guaranteed Note Facility
I hope these links would help you in your research. Before rating this
answer, please ask for a clarification if you have a question or if
you would need further information.
Google Answers Researcher