By now, I am sure most of us have heard a fair share of the infamous Bernie Maddoff. How he swindled thousand of people of billions of dollars in his 'exclusive' Ponzi system. Nobody is spared - from the multi-millionaire who's who in Tinseltown to retired couples wishing that their investment will enable them to a spend their remaining years in comfort.
Which brings me back to our own beloved country. This famous 'skim cepat kaya' - Pak Man Telo' has burnt thousands - but is still alive and kicking, amid slightly different patterns/environments. Not a long time ago, I read adverts by the roadside, inviting people to learn & participate in the very lucrative 'worm rearing'. Ternak cacing....it's everywhere. You kinda convinced - since this is an agriculture project - guaranteed to maximize your return.
Lo and behold, a week or so ago, there were news about the 3000 investors in Kulim who lost around RM30 mil in the 'skim pelaburan ternakan cacing'. A govt retiree used up his 100K retirement money to invest in the company, starting Aug last year. First he invested 60K, with 20K return for the first 2 months. Then he added another 40K - and did not get anything back from Nov. Hmmm....too good to be true....
The thing is that this kind of Ponzi schemes are affecting a lot of people, people who use up their hard earned money, retirees, etc. But come to think of it - is the Ponzi scheme fuelled by greed. I mean, unless you are very naive and has been living in Timbuktu, then you'll know that no investment will reap profit in THAT amount in such a short period.
So, be careful...I am telling this to myself. With technology, the 'thieves' are getting sophisticated. They are becoming tech-savvy, and will lure us - come what may....
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