80 people losing RM400 million in gold ‘investment’

I think more people should be aware that there’s no free lunch or the best investment where money seems to fall down from the sky. If there are, no one would give you the opportunity to invest. They will telltheir brother, sister, father and mother and they would be rich, rich and rich. Reason? They invest, get huge returns, invest more and get bigger returns and with bigger returns they invest and get crazy returns and so on. True… right? Why do they need you…….? Well, another case of ‘investment’ gone wrong. Reported in thesundaily was a gold ‘investment’ scheme, complete with brochures and crazily attractive returns. Returns were said to be 15 percent per month. 80 people lodged a police report and said they lost RM400 million. They alleged that the promise of lucrative returns were not fulfilled.

The entity which the investors invested into was confirmed by the Urban Wellbeing, Housing and Local Government to be not registered. One investor said that he ‘invested’RM340k while another said RM200k. Generally, if the returns are real (15 percent per month), then RM200k would become over RM1 million at the end of 12 months. I shared about this earlier: Why do some people still get cheated? Sigh. Annual increments are only single digits every year. If there are investments which gives even 5 percent return every month, why should we work….? Why should anyone work in this case. Perhaps working for fun then, since returns are so high that money is no longer a concern. By the way, I think even Ah Long charges less than 5% per month which is 60% per annum…. Yet, the returns promised by the gold ‘investment’ was 15 percent per month….

Work harder for real money. Investment is not about crazy returns and crazy returns are definitely not a form of investment. Perhaps this may be of interest if we are looking at MINIMAL investment and continuous returns… Beggars save too, else ‘earnings’ are useless Cheers.

written on 11 June 2017

Next suggested article: Plain unlucky or just simply no planning


Advertisements is everything about property related writings and news. Enjoy reading with a latte.

Related Posts

Fearing the worst for Malaysian banks?

I just wrote this article not too long ago: Important signs for the market; Banks’ results Banks are extremely important because they allow to see way in advance if the market is in trouble. Here’s a THREAT to Malaysian banks. Article in TheStar here. Moody’s Investors Service has announced that property loans are the greatest threat for Malaysian […]

Read More

Buying property is good debt, an asset? 3 issues here.

I favour property investment. I repeat, investment. I disagree with property speculation yeah. Certainly not using whatever method which enables anyone to buy a property or properties beyond what their salaries could afford. For this time, we revisit the thought that buying a property is good because this is a good debt and property will […]

Read More

1 Comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Property investment news everyday? Subscribe for free!

An article a day, keeps you updated all the way.

Join 903 other subscribers

LIKE us for property news update, FREE.

%d bloggers like this: