Another land banking company bites the dust

[Bibi]

I remembered some early investors registered as VB members and vouched for the success of their investment, mentioning their visit to Brazil and seeing the physical buildings under construction.

I can't imagine how these early investors feel now, especially if they had managed to influence their relatives and friends to invest along with them.

One of the investor say he and wife both believe strongly in Wendy Quek mah. He even mention so be it if all invested money is all lost.

[level13]

Malaysia can stop these companies from conning their people but why not Singapore ?

Apologies. Can you help to refresh my memory which are the ponzi schemes that the malaysia government has successfully stopped before they bring harm to the citizens?

http://www.thesundaily.my/news/954728

http://www.financetwitter.com/2012/10/ge...-scam.html

[cfa]

Malaysia can stop these companies from conning their people but why not Singapore ?

Apologies. Can you help to refresh my memory which are the ponzi schemes that the malaysia government has successfully stopped before they bring harm to the citizens?

http://www.thesundaily.my/news/954728

http://www.financetwitter.com/2012/10/ge...-scam.html

I was referring to land banking investment companies , so far never heard of such companies legally allowed to operate in Malaysia ?

[LionFlyer]

Putting aside the issue of MAS regulations, are the culture and people here partly to blame? There seems strong desire to getting better yield/money, and especially among those who have achieve a little bit and trying to move up. I've heard stories from people in the finance sectors of clients actively asking for more risky instruments.

[Ray168]

LionFlyer,

Your signature "You can count on the greed of man for the next recession to happen" said it all.

Scammer exploited human weakness on greed to make them rich.

LOL.

Putting aside the issue of MAS regulations, are the culture and people here partly to blame? There seems strong desire to getting better yield/money, and especially among those who have achieve a little bit and trying to move up. I've heard stories from people in the finance sectors of clients actively asking for more risky instruments.

[Art or Science]

Yup, agreed - greed. Always the case i guess. It's what makes people more susceptible.. Have to constantly remind myself that "if a deal is too good to be true, it probably is"..

[pianist]

actually ecohouse is helping to loosen the excess liquidity in the market?

[corydorus]

The scammers takes the property cash and inject liquidity into the stock markets. lol

[Jack31]

It's getting ridiculous how much people are cheated. To be blunt, it take less LESS than an average IQ person to know it's a scam. Does greed really takeover their mind? Seriously I can't understand what these so call "investor" are thinking. So much example and they nv ever learn?
Sunshine
Gold Geneva
Gold guarantee
Infinity treasure
Profitable plot
Ecohouse

What are they thinking? Seriously im getting so angry to see fellow Singaporean being cheated.
I can easily name more which are still standing and people are still rushing into it. But then this post will probably be deleted by the mod if I name them

[Jack31]

Just to add, I ever been to 1 of the presentation (1 that is still standing) just to go around telling people and hopefully waste their time and resources. There I was telling the stranger 1 by 1 that I think it's a scam. Problem is these peopl tend to trust the friends and relatives who bring them there. And these so call "friends and relatives" are there assuring them everything is fine.
But I must admit their presentation are good. Some even show insurance letter from insurance company that their capital is protected.