Pala-isip

Another scam has been unveiled in the Philippines. This time it's trading "futures derivatives". The company is called FrancSwiss (wow...what a unique name, they just reversed Swiss Francs) and were offering people with a 12% annual return. Their minimum is $40,000 to invest, but if you don't have the $40,000, they encourage you to partner with someone to come up with the minimum. It was estimated that investors lose between $120 to $250 million in investments. A friend was telling me about this where he knows someone who told him to invest in this company just last week. When my friend told me that they were offering 4.5% per day return, I told him that was a scam. Good thing he listened to me and didn't invest any money. Yesterday, the news came out of the Inquirer saying the money in the bank accounts were all gone. Taken by the owner and most probably have left the Philippines. Seriously, haven't they heard of Multi-Tel? Tibayan? G. Cosmos? If these ponz...