Core Viewpoint - The emergence of the "Long Year Preferred" platform has attracted many middle-aged and elderly individuals across various provinces to invest significant amounts, with some investing over one million yuan, raising concerns about its legitimacy and potential classification as a pyramid scheme [1][3][22]. Group 1: Platform Legitimacy and Operations - "Long Year Preferred" claims to be a legitimate platform approved by the Ministry of Industry and Information Technology, positioning itself as the "fifth largest e-commerce platform" [4][11]. - The platform has allegedly misrepresented its ICP filing as a government approval certificate, misleading investors about its legitimacy [6][20]. - The platform's reported membership has exceeded 2 million, with projections suggesting it could reach 10 million by August 1, 2024, and 30 million by the end of 2025 [9][11]. Group 2: Investment Structure and Returns - The platform offers a tiered membership structure with varying levels of investment and potential returns, with claims of annualized returns exceeding 200% [12][14]. - Members can achieve higher ranks and income through recruiting new members or through direct investments, with significant financial incentives for those who reach higher tiers [12][14]. - Some members have reported investing large sums, even borrowing money to do so, due to the enticing promise of quick returns [16][18]. Group 3: Regulatory and Investigative Actions - Local authorities have begun investigating the operations of "Long Year Preferred" following numerous complaints, indicating potential violations of financial regulations [22]. - Previous warnings have been issued regarding similar platforms that employ high-return promises and recruitment strategies, highlighting the risks associated with such investment schemes [22][23].