There is no shortage of G&G peoples around the world to feed the scammers. The scam business has sustained for ages, thriving on this group of peoples.
Who are these G&G peoples? Are they laymen with no formal education and lack of knowledge? The answer is NOT ALL Some of these G&G peoples are learned and professional, with MBA and PhD qualifications. Then, how they became victims of scam?
The G&G are Greedy and Gullible people, blinded by money.
Recently, I was invited to a Fine Wine Investment dinner. This is not a scam but a genuine investment scheme in fine wines. The investment broker provided comprehensive services from direct selection and purchase of fine wine from vineyard to storage in a bonded cellar in Singapore and final sale of the wine via auction (after 3 to 5 years). Wines appreciate in value due to aging, inflation and diminishing supply. For example a bottle of 2003 vintage wine, one bottle consumed is one bottle less in the entire inventory worldwide. Hence, there is always a demand for fine and aged wine.
The entire investment scheme is genuine but what was promised verbally differs from the fine prints in the terms and condition of the investment. If one is gullible, this is the trap readymade.
Yes, one will make a profit on this investment but the profit is not the anticipated profit as forecasted by the broker. One can realized the trade profit but the net profit after deducting the undisclosed charges can erode the attractiveness of the entire investment. Instead of earning a cumulative return of 90% over the 5-year period, perhaps the net discounted return could be as low as 6% per annum at present value. Moreover, there is this question of liquidity of the investment.
Have you heard of Edgeworth Properties in Canada? This is a land investment scheme similar to UK Land, Profitable Plot and Walton Properties. Malaysian investors are estimated to lose RM71 millions in this Edgeworth Properties scheme.
UK Land was the first to collapse a couple of years back, followed by Profitable Plots. Now, it is Edgeworth Properties. So, who is going to be the next land investment scheme to go under? You can guess and should know by now.
Edgeworth Properties collapsed last week and is now placed under monitor by the Canadian Authority. Grant Thorton, an international accounting and advisory firm, is appointed the special monitor and receiver for Edgeworth Properties. Refer to this website for details: http://www.grantthornton.ca/services/reorg/bankruptcy_and_insolvency/edgeworthme
Edgeworth Properties’ office in Malaysia is located at the upmarket Bukit Damansara. Edgeworth sell the land investment scheme to Asians via direct marketing and MLM
Edgeworth Properties Malaysia Sdn. Bhd.
15-4-3. Bangunan Setia 1,
Lorong Dungun, Bukit Damansara,
50490 Kuala Lumpur,
MALAYSIA
Phone (603) 2093-8216
Fax (603) 2093-2890
Contact: Lee Kim Haw
Country Manager
Lorong Dungun, Bukit Damansara,
50490 Kuala Lumpur,
MALAYSIA
Phone (603) 2093-8216
Fax (603) 2093-2890
Contact: Lee Kim Haw
Country Manager
CNW reported: Edgeworth Properties Inc. granted protection under Companies' Creditors Arrangement Act
The Bankruptcy office of Canada: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02733.html
For Edgeworth Properies scam report read: http://www.scaminformer.com/scam-report/edgeworth-properties-edgeworth-properties-investment-fraud-burlington-ontario-c40366.html.
The G&G peoples have short memory and never learn from their past mistakes. Many G&G peoples lost money to scammer, not once but repeatedly.
