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It is time our regulators catch up with the tricks employed by creators of investment scams.
Otherwise, anyone can bypass the current regulations and sell investment instruments to the man in the street by using a product X as concealment. X can be gold, silver, cotton, pearl, paintings, wine, land – it can be anything!
This well written article says its all:
One definition to rule them all (Business Times)
Ha ha, I can still remember when the hottest topic on this website was land banking. Some of those scam companies even hired one of the top-3 law companies in s’pore to threaten to sue people who wrote the brutal truths about them. Now they themselves are being investigated and having to come/go to courts. But the investors moneys 99% gone of course.
After that it was wine. And then gold. All with “die hard” jokers defending these and saying how freaking good they are. All most probably with vested interests like their salesmen and staff of those scam companies.
And most of your “investor” monies all gone, at least 95% siphoned away overseas or burned up in lavish lifestyles, fast cars, women, prostitutes, 6-star hotels, orgies, $20,000 tables in atas clubs, etc etc.
It never ends. By the time most victims wake up and something is in the news, the scammers who setup the companies and most of your money already disappeared.
Frankly the only get-rich-quick scheme that is still sustainable in s’pore is to do with bringing in foreigners — collecting fees to come here, introduction incentives, hiring fees, retention bonuses, etc etc. Benchmark index will be the foreign population index. This investment is good till 2030, or until change of govt, whichever comes first.Reply