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Virgin Gold Scam
The other day, my friend was asking me what I thought about this investment from a company known as Virgin Gold. One of his colleagues is an investor and has recommended it to him.
The way Virgin Gold was set up, it was blatantly obvious that it was a ponzi scam.
According to the website, Virgin Gold is supposed to be a gold exploration and mining company. The website has an address in Panama City but the domain name is registered to a US address.
Virgin Gold offers convertible preference shares (through their website http://vgmc.com) for subscription.
The company says that it will use the money as financing for their business, and from the profits pay out dividends to investors. The dividends will be credited to the investor’s account in the form of gold units.
The amazing thing about the Virgin Gold investment opportunity is that the monthly payout is almost ten percent of your investment capital.
The promised returns puts other gold schemes/scams to shame. 😉
There is no gold mining company in this world that can generate the kind of profits that are even remotely close to what Virgin Gold is paying out.
While the investment is offered online, it has already reached Singapore’s shores as can be seen from this discussion on Virgin Gold on hardwarezone.
Virgin Gold is also listed on the MAS Investor Alert List.