Here is another Ponzi scheme. The investors get a good return, 8% in 1 week, and put in more money. The Singaporean who promoted the scheme in China could be doing it for the commission, but is now facing the brunt of the anger of the investors. This type of scams will continue from time to time, until the government wakes up and put a stop to it.
The government has to pass a law that require all investment schemes to be licensed. An investment scheme is one that promises a return to the investor. Anyone promoting an unlicensed scheme will be committing a crime. These scams will never be approved or licensed.
When will the government wake up and do its duty?
3 comments:
More than 4 billion singapore dollar investment scam. Again, a Singaporean is involved. I believe the Singaporean is a victim himself.
Products pushed by banks are not safe too, those products have a lot of hidden secrets and fine prints which could cost you dearly, no one can understand those prodcuts except the designers of the products themselves. 2008 finanacial crisis taught me and many Singaporean a very good lesson.
At present, stock market is the only investment that is free of scam. The only thing you have to worry about is the quality of the company whose stock you want to invest in.
This is so cool and insightful! You really had done your homework to come up with this! It has answered most of my questions!
Ask instead, why people in Singapore keep on thinking there is a big fat pigeon flapping around for you to catch easily.
The Godfather is busy protecting their own interests, where to find time to look out for daft, recalcitrant folks who keep trying making a fast buck without putting in effort.
Greed is good only if you do your own thorough homework.
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