Profitable Group - is it credible?

[Commander Keen]

Profitable Group F1 Sponsorship

Steve is long gone. They have closed their sports department according to my CSO. Steve will probably lie low

Profitable Group still have sponsorship on the F1 - you can see it here on you tube. F1 used to control its reputation very tightly - cant believe how low they have sunk. I guess after last years scandals they are struggling for sponsors. I can only assume that somewhere up the line someone key from star sports or ESPN has an investment in "brought to you by our friends at Profitable Group."

Perhaps ESPN Star or Profitable Group would like to pay everyone back ?

Also the advert for Bintan and some partnership stuff with"Profitable Group is a presenting partner of ESPN News here

 

[the_king_sbk]

Expired before May 2009 has been paid back??

In one the previous posts, it was stated that PG claimed that they have paid all those expired till Jun 2009.
Can I know if there is anyone here who's investment expired before Jun (or at least before May) 2009 and still haven't receive their payment?
Please also state the date of expiry and the scheme, if possible.
Thank you.

[btw, i had one expired on Feb 2009. I gave the 12.5 within a month. But this year they are telling that i wont receive it anytime soon. ]

Can I safely assume that everyone whose investment expired before May 2009 has already gotten their money back?..since there is no response to my previous post.
Thank you.

 

[cacwai]

Hi

I would like to know too whether there is any truth in PG's claim that they have paid up till June 2009. So far, this is the story that is being repeated by the Directors in PG. I have recently heard this again from another investor (who is not part of this forum) who confirmed that that is what the John Nordmann told her when she met him last week. Is there any truth to that? Kelvintyy, if I did not recall wrong, PG has owed you your money for over 8 months now, so are you one of those who's investment matured before June 2009? If so, have you now received your money back?

Now PG Directors are spinning a consistent story that they are expecting payoff in June 2010 from the Philippines land sale. They are also expecting BORON contracts with the Philippines government to be paid by that time. Why June 2010? Their reason is the delay caused by the upcoming Philippines election on May 10th. Is there a link between Philippines election vs. their BORON contracts with Philippines government or their Philippines land sale? I don't see the link - but if there is really a link, then I certainly expect there to be more delays. What's to guarantee that they will get their money immediately after the May elections? What happens if the election goes southwards, and tears down their carefully built house of cards...

If any of you have investments that matured before June 2009 and have been paid up, I urge you to please confirm what the Directors are saying... have you been paid or not. If its all a lie, than you can expect this new June 2010 payoff deadline to be another lie...

As far as I know, PG is still selling their store of products. In a recent road show at Raffles Place on 24th Mar, they were pushing US$50k investment instruments tied to Indonesia sites, with promised returns + original investment of US$66k (but I didn't take note of the lock-in timeframe). They were also still advertising Concorde Village land plots at 5,625 pounds per plot.... perhaps this is how they intend to shore up the money to repay investors....

 

[kelvintyy]

Hi

I would like to know too whether there is any truth in PG's claim that they have paid up till June 2009. So far, this is the story that is being repeated by the Directors in PG. I have recently heard this again from another investor (who is not part of this forum) who confirmed that that is what the John Nordmann told her when she met him last week. Is there any truth to that? Kelvintyy, if I did not recall wrong, PG has owed you your money for over 8 months now, so are you one of those who's investment matured before June 2009? If so, have you now received your money back?

Now PG Directors are spinning a consistent story that they are expecting payoff in June 2010 from the Philippines land sale. They are also expecting BORON contracts with the Philippines government to be paid by that time. Why June 2010? Their reason is the delay caused by the upcoming Philippines election on May 10th. Is there a link between Philippines election vs. their BORON contracts with Philippines government or their Philippines land sale? I don't see the link - but if there is really a link, then I certainly expect there to be more delays. What's to guarantee that they will get their money immediately after the May elections? What happens if the election goes southwards, and tears down their carefully built house of cards...

If any of you have investments that matured before June 2009 and have been paid up, I urge you to please confirm what the Directors are saying... have you been paid or not. If its all a lie, than you can expect this new June 2010 payoff deadline to be another lie...

As far as I know, PG is still selling their store of products. In a recent road show at Raffles Place on 24th Mar, they were pushing US$50k investment instruments tied to Indonesia sites, with promised returns + original investment of US$66k (but I didn't take note of the lock-in timeframe). They were also still advertising Concorde Village land plots at 5,625 pounds per plot.... perhaps this is how they intend to shore up the money to repay investors....

Hi,

I guessed I have to say here, that I'm still have not received my boron payout from Profitable Group ever since last year June till now. Saw so many threads since I last posted. It's very scary to see that the company is able to spend $$$ on their advertising campaign but not able to pay what they owed me. (USD 11250). We have heard so many stories from them. Do not know whether they are true or not. Say if June 2010 comes, and still no payout. Another new story will arise.

As and when, I will keep you guys updated. Take care guys!

 

[baby_c]

Can I safely assume that everyone whose investment expired before May 2009 has already gotten their money back?..since there is no response to my previous post.
Thank you.

Hi all, it's up to you to believe if what the Directors say. It is not the first time they are singing the same song, every 3 months, they will say it will mature in 3 months time, and all in the company will be told to say the same story, that's how they win the investors over. But the story of will be maturing in 3 months have been repeated every 3 months and nothing have mature to-date.

I have my investment of AAA mature in May and June 2009. Till today, they still ignoring my call and emails. And I have not got back a single cent, not a single call or email from them telling me when I can get my money back. I can go to thier office again and choose to believe them that the land will mature in June 2010, which is a pile of crap which I have believe in since last year June/August/Nov I went to their office believing them that it will mature in June 2009, Sept 2009, Dec 2009. Nothing happen.

And please note that if no response from any forumer here, means none have got their money back, so no point keep asking if anyone here got back the money. Anyone of us here would have put a message here once we did get the money.

 

[cacwai]

Hi

Thank you baby_c and kelvintyy for your confirmation, even though it is painful for you to repeat each time that you still have not received your money. I am sure we all appreciate this 'cos it re-affirms our suspicion that its a new tail PG is spinning and we can all expect June 2010 to amount to nothing. I will take this fact to another group and see if they are now prepared to take collective action given the new info.

Thanks again.

 

[DestinyFate]

no money to return investor but got money for advertisment..=_=

 

[yeokiwi]

no money to return investor but got money for advertisment..=_=

Without advertising, how do they get the money to return the investors?
It is basically an unsustainable business model. The last to board the ship will sink with the ship.
The captain and the crew will board the last life boat.

 

[probono]

If they wont write it down - its not true

Hi
Now PG Directors are spinning a consistent story that they are expecting payoff in June 2010 from the Philippines land sale. They are also expecting BORON contracts with the Philippines government to be paid by that time.

Can i suggest you get this statment in writing ? Another poster here had suggested that Profitable Group had not ordered any significant quantities of Boron from the supplier. Not sure if anyone else followed up on this so cant confirm it. If that statement is true then with an email from Profitable saying that they had a huge order for Boron in the Philippines you would have very strong grounds for taking the issue to the authorities .

http://forums.hardwarezone.com.sg/showthread.php?p=43339073#post43339073

 

[baby_c]

Can i suggest you get this statment in writing ? Another poster here had suggested that Profitable Group had not ordered any significant quantities of Boron from the supplier. Not sure if anyone else followed up on this so cant confirm it. If that statement is true then with an email from Profitable saying that they had a huge order for Boron in the Philippines you would have very strong grounds for taking the issue to the authorities .

http://forums.hardwarezone.com.sg/showthread.php?p=43339073#post43339073

Well, I don't think you will ever get anything in writing from Profitable Group since a year ago. They somehow stop using email, I guess. So they will never give you anything in black and white knowing they have to take responsibility if given in writing. They have always been saying things untrue which will never appear anywhere in writing. Even contract we sign, on words, they said we can surrander the investment when the 6 months or 1 year term is up. But now when you want to surrander, they say - look at the contract, it is an "Option Agreement" which means they have the right to choose if they want to buy back from you, you can say you want to surrander, but they can say too bad, they refuse to buy back and there is nothing you can do, cause it is an "Option Agreement".

 

[Commander Keen]

Record them

Well, I don't think you will ever get anything in writing from Profitable Group since a year ago.

Here are some questions everyone can ask. Record or write the answers down. I suggest we compare answers

Call your CSO - say any or all of these

(if you are recording you must say this) I am recording this conversation as I want to keep for my records.

• Please tell me exactly where my money is now.
• What product or land is my money currently invested in
• Who is the end customer for my products or land
• When will the land you have sold me gain planning permission
• Please tell me the exact cause of the delay in paying me my money
• What is the latest date when I will get my money paid in full with all interest.
• Who can I talk to in the Philippines to validate your claims that you have real investments there
• Can you confirm that you have purchased and shipped any Boron apart from samples.
• How much Boron have you purchased and shipped to date.
• When is the date that my land investment will give returns
• What is the exact factor preventing you from paying me.
• Can you confirm that everything you have just told me is true

Most likely they will hang up because if they lie on tape they are caught. If they hang up that should tell you what you need to know - your money isn't coming back ever unless you chase it.

 

[joyjoyhope]

Hi all,

I am reflecting upon what I did that helped me get my money back. Maybe some of you here can try it out.
I went down to the office everyday for one week and I was insistent and loud. I brought along a friend everyday to help remember what they said and how they treated me. The friend did not buy anything, so the friend will serve as a good witness if the matter is brought to court, since she will be a neutral party. Tell the people there.
In the end, the person who 'helped' me get my cheque ready was Tim Fogarty. But I am not convinced of his niceness, it is more like a good guy bad guy routine with him and Chandra, to buy off/ scare off people who is ready to file suit.
Engage a good famous law firm. You can use the associate. Note the name of the law partner ic of the litigation department.
Go directly to Tim, and tell him in very clear language that you are not going to accept any more delays, the name of your law firm, who is the partner ic of your case, and when exactly you are going to file suit. Tell all this in presence of friend. Tim will probably stall and say need more time because of philipine election etc. Immediately take out a piece of paper to record down his statement the moment he makes this type of statement, and make him sign it. Do in presence of friend. If he refuse to sign, ask him to explain why he is not signing. If he don't sign, you will be going to your lawyer. N anyway, your friend will provide testimony in court confirming what she heard Tim say.

belledonne got back his money after going thru SCT.

So.. I think really, what will make them pay you is if you can make it troublesome enough for them. Either by promising to file suit, which I really was at that point of time, or by requiring them to appear in court, in belledonne's case.
Weigh against the amt of money you will be losing.. I think it is worth a try. BTW, the pg people apparently only need to appear after noon at the office.
Good luck.

 

[scammersdie]

Action speaks louder than words

Dear all,

I have been following this thread for a while as i am one of the victims. I have AAA plots that have matured in June 09 but have not gotten a single cent back. I have done what many in the forum have done, incl. harassing them via email, phonecall and appearing at their office everyday, send laywer's letter, but to little effect. I think Enough is Enough.

Loot at this news report: http://sg.news.yahoo.com/cna/20100402/tap-566-angry-customers-wax-city-band-231650b.html

20 S'pore women banded together and kick a big fuss at this Beauty Salon that closed down, because they each lost $1,000 due to the package they signed up. Police came and it made the news. Now the authorities are looking into it. All this for $1,000.

I propose we show some action, collectively. That's the only way we will be heard. Its easy for them to deal with us one on one. But if 20 of us turn up, let's see how they answer. If the police and press arrive, all the more better... let's see who they choose to believe.

I know some of you fear that if we do this, PP will close and you won't get your money back. I think its passed that already. It is clear as daylight they don't intend to pay us. The least we can do is teach them a lesson and don;t let other people continue to fall into this scam. Earn some points for your own karma.

There are actions that we can go as a group that will have more effect. Run a lobby group with a website stating our grievances, take out an ad in the paper against them, have one lawyer represent the group, even turning up at CAD as a group will get the authorities working.

So we should channel our efforts here towards a collective effort, as a group, rather than just using this HW Forum as a bitching station or to exchange 'tips' on getting our money back, which obviously isn't working.

You and I know the Profitable Group people are reading this webpage. Let's exchange numbers, do a meet-up just once to identify that everyone is genuine (and show commitment) and take it from there. let's not make ourselves laughing fodder for the people at Profitable Group reading this.

That's all i want to say. The rest is up to each of you.

 

[focus1974]

If not.. you guys organise the facebook group ..and go down to the roadshow or the office everytime to scare the potential investors away. If not, group together and seek help from Mr Tan Kin Lian? He seems to be very proactive in supporting consumer against unethical business practise. Though it would be easier if you all organised yourself first before approaching him. If you can't even show solidarity among yourself, why would an outsider even bother to help?

Sadly, most will never do that because the blowing up of this issue will mean there willl never be another investor taking up the plan (which means there will never be money to pay any one who bought off).

So sad but true..

 

[zhiz22]

use the media to your advantage. wan bao, xin min, tnp loves such news.

 

[probono]

use the media to your advantage. wan bao, xin min, tnp loves such news.

If everyone who has lost money writes five letters , emails or blog posts over the next week the word will spread. Tell your story honestly and with passion and the world will listen.

 

[PG Victim]

We have to bring PG down!

I am new here and just stumbled over this forum today while I was doing my research on PG. I went to their office yesterday to try to get back my money but instead was treated as if I was a stupid person who did not understand my contract and what I have invested in. One of the directors talked to me as if I was begging for their money but all I want is just my investment back and what had been promised when I first invested. How can we bring them down? I am so furious!

 

[divinefund]

Profitable Group..Hmm... Money in their pocket only. Your investment is one way ticket.....

 

[tatakai]

check out : profitablegroupscam.blogspot.com

 

[probono]

Letter to Malaysian Press

Kuala Lumpur investor complaining about Profitable group here

http://www.malaysianmirror.com/voic...ople/36957-show-me-the-money-profitable-group

Show me the money, Profitable Group
Share
Wednesday, 14 April 2010 22:21

THE Profitable Group has been aggressively promoting itself in the mass media including on the ESPN channel.

They are into many things but their main business involves selling of plots of land to individual buyers for a sum which is quite substantial. The owners of the plots are promised good returns once the plots are sold in Britain, the Philippines or any other country.

But the reality is different.

When all these transaction reaches maturity, the Profitable Group is not able to pay pay up as agreed.

I was one of those who signed up with the group on a one-year investment basis. It has already been seven months since the maturity date and I am still unable to reap the so-called return.

To add salt to injury, the Profitable Group was evasive about when it could return me my money.

I believe there are many more investors out there who are also caught in such a situation and their invested amounts could be much more than mine.

I do hope the authorities can probe the legitimacy and solvency of this company to ensure potential investors are not burnt.