The truth is, There is No Easy-money

Sharing the story based from true experience of a victim in investment scam:

Let’s rename our Wise Keeper’ informant as Marvin, a BS computer graduate from province and looking for opportunity to Manila. He is focusing to his work and other errands like rewarding himself with good food and do exercise in one of the popular gym in Manila. And part of his goal is to gain wide range of experience in IT industry, earn money and save for his future.

To save more, he lived in a condo sharing unit twice, first is a three-bedroom and one comfort room. Not bad at all, since the building has indoor gym, and a lot of popular malls are nearby. The first condo sharing he lived has a total of 16 compact or single beds, and the second condo sharing is only for 8. There is a problem with the owner(renter of the unit) of first condo sharing about financial obligation to the admin of the building. He did mentioned that the checks of the owner bounced many times and the admin decided to terminate the contract. One of his colleague’ Robert (rename for confidentiality purpose), which he became friends in the condo sharing unit take the responsibility to rent but in different unit which is the price is low compared from 2-bedroom to 3-bedroom unit. Robert only choose 8 trusted and available colleague that could vacate immediately in the second unit but the price they pay increased from 3,500 monthly to 4,000 to 4300 monthly since only 8 people split the monthly rent and dues. Marvin is extremely happy that Robert’ his friend take over the second unit and it took only few floors below to be able to reach the new location of the unit.

On his third year in Manila, one of his colleague’ Mark shown a different attitude. Mark constantly talks with other colleague inside their condo sharing unit. Since, it is frequently discussed inside their unit about what Mark talks, Marvin heard what Mark is saying. To sum up, Mark suggested (because Mark is just a buyer not part of the business but Mark is looking for bonus in commission, Marvin forgot the how much rate Mark is receiving for commission) Marvin and Robert to join a business which taking care of pigs/hogs for about 3 months or 90-days Marketing Plan and you will received 66% in return. For example PHP 3,600 per piece and after the period you will receive PHP 6,000. PHP 2,700 is the profit per pigs. The minimum purchased should be 10 pcs, so after 3 months, you will earn PHP 24,000 net.

He then shared the computation below.

Marvin did not believe this business at first and he has a hunched that this is a kind of investment scam because there is no actual or evidences that pigs and their farm shown. But after third and fourth months, Mark and his other colleague earned money and they are confident with the business because of the tangible money they are having. Marvin asked Robert about Mark’s business because it looks promising and enticing. Then after researching the business, it has a potential legitimate business because it has several offices around Metro Manila and Mark shows some farm that the business bought in order to raise the hogs. They both joined the business and after 3 months they earned. And after a month, they earned again because they are just trying it out if the business works, the next month they are also looking forward to earned, that’s why they both earned consecutive months. After that period Marvin and Robert discussed if this is a true or legitimate business how much they will invest, if they need to invest more money or the maximum they have or just take the capital or pay in amount and rollover only the net profit they earned from the business.

He shared that one of the key reason why he joined the business is to help his brother to lessen the monthly amortization of their family’s dream car. He thinks that the more down payment they pay to the car dealer the

Marvin has an urged not just to withdraw his saving, but to loan which amounts to fully engaged to the business. He loaned PHP 90,000 pesos (112,000 total paying amount for the loan) and his savings is nearly PHP 200,000, earned from the business is approximately PHP 140,000 and the total capital he put in was PHP 240,000. All in all, approximately PHP 692,000 Marvin invested to this business. While, Robert only invested approximately PHP 500,000-600,000 because he wants to get some in the earning he received from the business to pay for other dues.

When Marvin, received his earning from the business, he has this feeling for greediness or looking for some more money since he knew that there is a bonus in commission if you invited or suggested to other people. Marvin tells this story to his friends and 3 of them eventually joined.

After some days or a month, Marvin has thoughts about the number of hogs that the business is taking care and how they manage to sell it to the market, because in his and Robert investment, let’s say PHP 1,200,000 worth of pay in, divided it by PHP 3,600 to get the number of hogs, the total number of hogs is around 333 pieces and it will going to use a large or big poultry farm and whatnot.

Then the bad news came, there is a rumour or a news that the SECURITIES and Exchange Commission (SEC) mentioned in their page or facebook page that the business is not legitimate and inform a cease and deceased order. Following the offices around manila consecutively closing. The business inform its clients that they are doing to work things out between them and SEC. But Marvin received a repeating excuse or reason. Several months gone by, other investors come together to file a complaint against the business. They went to NBI’ CAMP CRAME and Quezon City Hall to file a formal complaint, estafa.

Here is the example file submitted to the Quezon City Hall

In conclusion, Marvin put all his eggs in a basket that aren’t a real one. He did not trust his hunched and not research enough in this business. He did also mentioned in the last part of this dialogue that in his belief’ Christian faith, the business is also attracting its client with some Pastors outside of the country promoting the illegitimate business. He is also attracted by this tactic that even some people with the same belief different congregation, and the CEO of the business sharing an encouragement message from the Bible to entice current to invest more and to get new investors. Marvin reflected that in the same Bible, it did mentioned that other people will use the Word to deceived people for self-gain to their selfish desire. And He emphasize this message from Proverbs 13:11 ‘ Dishonest money dwindles away, but whoever gathers money little by little makes it grow. It suggests that hasty or quick gains are more likely to be fleeting and temporary, while those who accumulate wealth gradually and diligently will see it grow over time.

#CHARGEToExperience