Warning: A Ponzi Scheme ( Investment Scam ) - by lovephileo
Have you been once looking for quick money yet only to discover that you have just fried in your own lard?
Not too long ago, a syndicate that promised high interest rates on peso investments victimized high ranking military and police officers and even lowly soldiers and policemen. Even members of congress as well as senators were once victims of the so called Ponzi Scheme, an investment scam operated in the Metro walk area (Bullfrog cafe) or any prominent intenet cafe location. They use internet cafe as trading floors for their racket. They target middle class yuppies with the lure of high returns-even quoting the performance of stock market/forex market for their cause. This schemes appear during bull markets.
Let me post some some updated and previous similar scams confirmed and suspected big pyramid scams in the Philippines identified by the Securities of Exchange Commissions (SEC).
Take note: Ponzi Schemes (pyramiding) has been known to be able to operate and last for a number of years with 1 even lasting up to 15 years.
1. Royal Machester Five Trading (2008) - President of RMF Mr. Cyus Hao just left the country taking the money of the investors. It is showing to be a P2.1 B ponzi scheme with a lot of people total wipeout.
2. SM Fund and SMInvestment.com ( older incarnation of Francswiss ) or Swiss Mutual Fund - unlicensed, not registered and without permit from SEC. Not in any way connected with SM Investment Corporation owned by tycoon Henry Sy.
3. Francswiss, Swiss cash, Universal Forex Systems, Global America, Private Forex Trade Inc.
4. Multitel Investment Corporation (Not related to the stock)
5. G Cosmos Marketing
6. Kendeigh foreign Exchange
7. Grand Post International
8. Mateo Investment Corporation
I still don't know how these fraudlers can get anyway with their company name. Back in Switzerland, Peso philippine might be a big ponzi scam as well.
I provided links below for public reference. Goodluck for being wise as a serpent !
Links:
http://en.wikipedia.org/wiki/Ponzi_Scheme
http://www.sec.gov.ph/advisory/SEC%20Advisory,04182002.pdf
http://www.sulit.com.ph/index.php/view+classifieds/id/18125/Double+or+Triple+Your+Money+after+100days!+
http://www.francswiss.us/main.html
http://www.francswiss.us/contact.html
http://www.offshorebusiness.com/message_board_detail.asp?id=5577&page=123
http://www.iht.com/articles/2002/03/30/mjapan_ed3_.php
http://www.mlmwatchdog.com/3_MLM_Philippines.html