07-05-2017, 12:44 PM
Better safe than sorry: Resist urge to invest in too-good-to-be-true schemes
by Lorna Tan
PUBLISHED May 7, 2017
It sounds like a surefire winner - buy plots of cheap land overseas and get your money back, plus a tidy profit once they are sold off to developers.
Or this one: Buy agarwood trees that would eventually be harvested for their valuable timber and oud oil that is used in fragrances and spas.
Yet another is a so-called oil bunkering scheme that probably had nothing to do with oil. It was sold as a financing arrangement with promises of high, regular payouts and capital back after a specified period that could be as short as eight months.
And in another investment scheme that turned sour, retail investors were persuaded to park their hard-earned savings with financial experts who would trade stocks or forex on their behalf.
Besides the above, several firms, including Genneva Gold, Gold Guarantee, Profitable Plots and Sunshine Empire, have surfaced in recent years at the shady end of the Singapore financial service sector.
All these schemes were offered with low initial investment sums and attractive returns over short periods.
But big losses can also come with the territory, as many Singaporeans can attest.
More details in http://www.straitstimes.com/business/inv...than-sorry
by Lorna Tan
PUBLISHED May 7, 2017
It sounds like a surefire winner - buy plots of cheap land overseas and get your money back, plus a tidy profit once they are sold off to developers.
Or this one: Buy agarwood trees that would eventually be harvested for their valuable timber and oud oil that is used in fragrances and spas.
Yet another is a so-called oil bunkering scheme that probably had nothing to do with oil. It was sold as a financing arrangement with promises of high, regular payouts and capital back after a specified period that could be as short as eight months.
And in another investment scheme that turned sour, retail investors were persuaded to park their hard-earned savings with financial experts who would trade stocks or forex on their behalf.
Besides the above, several firms, including Genneva Gold, Gold Guarantee, Profitable Plots and Sunshine Empire, have surfaced in recent years at the shady end of the Singapore financial service sector.
All these schemes were offered with low initial investment sums and attractive returns over short periods.
But big losses can also come with the territory, as many Singaporeans can attest.
More details in http://www.straitstimes.com/business/inv...than-sorry
Specuvestor: Asset - Business - Structure.