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

 

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