It has been several years since this blog started exposing “scams” and investment scandals here in the Philippines and abroad.
We do our very best to protect our countrymen from falling prey to these scammers and fraudsters by providing free information and education through seminars and articles such as this one.
Thankfully, an online colleague (Thanks to Eammon!) decided to produce the below visual asset on the topic. It takes you through how they both work and what the key differences are between the two. Continue reading What Are The Differences Between Ponzi and Pyramid Schemes? (Infographic)
I have noticed so many nasty yet arrogant reactions from netizens against people who either have been recruited by pyramid schemers or are the proponents of the scams themselves.
Most of them are seasoned investors/traders or have been “financially-educated” by financial literacy seminars and Facebook forums. It is as if they are no longer vulnerable to these schemes and fraudsters.
I may sound now like I’m attacking the wrong persons. Do not misjudge me.
I am writing this to let you know that I have close friends who are supporters of the financial literacy awareness campaigns but have become victims of scammers while being an advocate. One was a victim of a managed forex broker and another by a “promising MLM” company.
It’s just so ironic that a few of them were once heavy critics of the scams that they eventually entered in. And lost money in the process. Continue reading Anyone Who Invests Can Be Scammed
An OFW blog follower sought my opinion earlier today regarding a business proposal being offered to her and her friends by a person who claimed that he is expanding his fishpond business in the Philippines. While I do not have a complete background of the proposal I told her right away that she needs to consider a handful of things before saying yes to the offer.
She mentioned that the business proposal is that they are being promised to receive an 8% annual return or annuity for every P50,000 she and each of her friends will invest in the said fishpond business expansion. However, the P50,000 that each of them will invest shall be returned to them only on the third year of the business. Continue reading Should You Immediately Grab an 8% Annual Return Investment Offer?