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Beware of New Money Making Scheme Emerging in Singapore

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Old 25-07-2014, 12:17 PM   #31
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I like to refer newbies and anyone interested to invest in some schemes to refer to this STICKY THREAD

Beware of New Money Making Scheme Emerging in Singapore


Also... if there are any new schemes out, please highlight. so that people doing google search for that company can get here.

But please dont feel the trolls! if there are people defending them, we just ignore so that moderators do not have to close threads and cut off a Google source of info.
I remember when I was young, i was sooo attracted to a certain scheme. thankfully google brought me to this forum.


main investment should be via dividends, stocks, etf, reits, property ba...
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Old 25-07-2014, 08:45 PM   #32
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If it is too good to be true, it is never true.
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Old 25-07-2014, 08:46 PM   #33
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bumpz for this thread
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Old 26-07-2014, 09:47 PM   #34
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If it is too good to be true, it is never true.
agreed, abt 99% anyway.
i wish there are some who got scammed who can come here and share their stories.

most people i know who got scammed, they just clammed up and refuse to talk abt it again. i guess its a little bit of tiredness from losing a chunk of money.

anyway i have friends who got scammed, so let me share it as best as i can.

___________________________________

friends of mine came across Profitable Plots (PP) a few years ago, in a roadshow. both were attracted by the high returns, and "guaranteed" returns... and they were so confident that PP is a reputable firm because they were involved in EPL. Advertisements and associations with celebrities does lend some weights to credibility. credibility, on hindsight, that can be bought.

anyway long story short, they even invested in the fuel oil scheme in PP itself.. and some months (or years, i dont have the details), PP stopped payments to their clients and the rest is history. my friends didn't get a single cent back.

____________________________________

Another scam... geneva gold (i think)
A friend approached us, told us he had this fantastic plan. You buy gold from a company, and redeposit it back with them and u earn abt 1% per month.
Friends were so confident it is a proper scheme because they own the gold certificate directly. A nice piece of paper they says they own it!

and after we asked more questions, we found out that you have to buy the gold at a much higher price than the market price. thats 1 question mark.

2nd question market, how does the firm actually makes the profit to pay them the 1%. they do not know.

He did not get his money back when the firm folded, but at least he stil owns the gold certificate, which he liquidated at a much lower price than the capital he paid in. (at least he didn't lose all)

______________________


btw, these are pretty educated, smart people.
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Old 26-07-2014, 11:08 PM   #35
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all bluff chewren oneeeeeee
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Old 27-07-2014, 07:57 AM   #36
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Investor Fairs are now overrun by scammy companies.

I used to go there to discover new technology. Now I go there to spot new scams.
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Old 27-07-2014, 08:39 AM   #37
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Greed is the weakness of humans, unfortunately.
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Old 27-07-2014, 08:40 AM   #38
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Another scam... geneva gold (i think)
A friend approached us, told us he had this fantastic plan. You buy gold from a company, and redeposit it back with them and u earn abt 1% per month.
1% per month? Spend on those online HYIP scam websites you can get 1% per day
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Old 03-08-2014, 07:26 PM   #39
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anyone went Invest Fair 2014 and came across any of these suspicious firms?
Plenty of them these years.

FYI Sunday Times, 3 August 2014, Invest page has a few pages on all these alternate investments, schemes...

"Different Scams, Same Goal"

and recent additions to MAS Investor Alert List

EcoHouse Group (EcoHouse) - brazil property developer
Zochwell Group - projects and investment portfolio in South east Asia, especially Myanmar
Aureus Capital - consistently high returns via currency tradings....

Wait for 1 - 2 years to see what is going to happen.....
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Old 03-08-2014, 07:46 PM   #40
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Investor Fairs are now overrun by scammy companies.

I used to go there to discover new technology. Now I go there to spot new scams.
which onesssssss???
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Old 04-08-2014, 12:45 AM   #41
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up for awareness!!!!
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Old 10-08-2014, 02:45 PM   #42
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Last note:- Matrix Scheme is just a revised pattern of Pyramid structure or ponzi scheme.
Galaxy Trio is working on such matrix scheme.


Galaxy Trio Limited is presented as a referral program using Matrix Board System

source:
Galaxy Trio Limited's Blog - Home



btw, anyone was heard of Cheung Sheng Global Holdings

Cambodia goverment working with Cheung Sheng Global Holdings- coal fired power plant













I have to point out the obvious history:- firms that promised high returns and have been in the newspaper and or investigated by CAD
The Gold Guarantee, Geneva Gold, Profitable Plots, Lion Empire etc....
Case Studies -
PONZI companies on the rise.
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Old 10-08-2014, 03:36 PM   #43
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bumpz for awareness
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Old 11-08-2014, 02:21 PM   #44
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A friend of mine got a reply from MAS, regarding all these trading schools, investment schools


Dear XXX,

Thank you for your feedback of DD MM 2014.

There are many financial investment courses out there and MAS is not in a position to assess exactly which courses are credible and will make money for consumers. In considering the boundaries of regulation, we are guided by the need to balance costs and benefits. If we take too broad-brush an approach, we could end up regulating all commercial arrangements involving some form of investment return, which will only add costs without advancing consumer interests. To help consumers in areas that are unregulated, MAS has been working with the Advertising Standards Authority of Singapore to limit the scope of such entities to mislead consumers with their advertisements. However, the best protection is still the consumer who takes care, and in particular questions how the trainer intends to deliver on his promises before deciding to part with his money. As highlighted in our previous email, through MoneySENSE, the national financial education programme, we have provided tips to consumers on the questions to ask before parting with their monies to invest in unregulated investment schemes or signing up for training seminars. You may wish to refer to the following web link for these questions: Get-rich Quick Seminars - MoneySENSE .

The Consumer Protection (Fair Trading) Act (CPFTA), administered by the Ministry of Trade and Industry, gives consumers the right to take legal action against suppliers of goods and services where suppliers have engaged in unfair practices. Additionally, where a supplier has engaged or is likely to engage in an unfair practice, specified entities, such as the Consumers Association of Singapore (CASE), may upon approval of the Injunctions Proposals Review Panel apply to courts for an injunction to restrain the supplier from engaging in the unfair practice going forward. More information on CPFTA and CASE is available at Ministry of Trade and Industry Singapore and http://www.case.org.sg/index.html.

Thank you.

Regards,

Someone
Corporate Communications Officer
Monetary Authority of Singapore



Basically, if you want to hand your money to some gurus and make him richer than he can be via trading, please go ahead. MAS can't do a thing.
we need lubricants in the economy! fat juicy greases...
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Last edited by archcherub; 11-08-2014 at 02:25 PM..
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Old 11-08-2014, 03:42 PM   #45
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A friend of mine got a reply from MAS, regarding all these trading schools, investment schools


Dear XXX,

Thank you for your feedback of DD MM 2014.

There are many financial investment courses out there and MAS is not in a position to assess exactly which courses are credible and will make money for consumers. In considering the boundaries of regulation, we are guided by the need to balance costs and benefits. If we take too broad-brush an approach, we could end up regulating all commercial arrangements involving some form of investment return, which will only add costs without advancing consumer interests. To help consumers in areas that are unregulated, MAS has been working with the Advertising Standards Authority of Singapore to limit the scope of such entities to mislead consumers with their advertisements. However, the best protection is still the consumer who takes care, and in particular questions how the trainer intends to deliver on his promises before deciding to part with his money. As highlighted in our previous email, through MoneySENSE, the national financial education programme, we have provided tips to consumers on the questions to ask before parting with their monies to invest in unregulated investment schemes or signing up for training seminars. You may wish to refer to the following web link for these questions: Get-rich Quick Seminars - MoneySENSE .

The Consumer Protection (Fair Trading) Act (CPFTA), administered by the Ministry of Trade and Industry, gives consumers the right to take legal action against suppliers of goods and services where suppliers have engaged in unfair practices. Additionally, where a supplier has engaged or is likely to engage in an unfair practice, specified entities, such as the Consumers Association of Singapore (CASE), may upon approval of the Injunctions Proposals Review Panel apply to courts for an injunction to restrain the supplier from engaging in the unfair practice going forward. More information on CPFTA and CASE is available at Ministry of Trade and Industry Singapore and http://www.case.org.sg/index.html.

Thank you.

Regards,

Someone
Corporate Communications Officer
Monetary Authority of Singapore



Basically, if you want to hand your money to some gurus and make him richer than he can be via trading, please go ahead. MAS can't do a thing.
we need lubricants in the economy! fat juicy greases...
yr friend reported this company,galaxy trio or other such firms to MAS???


btw, bro, can pm me the mas officer email which reply to yr friend's e-mail....
I had something to send to MAS ...Ty
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