define('DISABLE_WP_CRON', 'true'); Swiss Mutual Fund Scam Busted In China - HTNet

Swiss Mutual Fund Scam Busted In China

What took them so long?! And I thought Malaysia has slow idiots running KPDNHEP.

Anyway, the modus operandi is typical, and I’m very happy that scammers like these are being choked of their potentially largest victim supply:

Authorities in Tai’an city, in the eastern Shandong province, uncovered the scheme named “Swiss Mutual Fund” in May, which was found to be illegal after investigation, xinhua said.

“It required each investor to pay 8,000 yuan ($1,052) and promised to pay back 400,000 yuan ($52,000) in 30 months”, the report said.

Two men have been charged for the scheme.

The uncovered scheme in Tai’an is just part of China’s campaign against pyramid selling from July 16 to August 15 this year, xinhua said.

Personally, I think that direct selling (both MLM and SLM) should be more tightly controlled. There’s way too much lying and scamming going on in this area.

3 responses to “Swiss Mutual Fund Scam Busted In China”.

  1. Freethinker Says:

    Well, the problem is not much on the lying, but the public not able to ask the right question or doing their own homework

  2. Site Admin Azmeen Says:

    Well, giving incorrect information to questions (whether it’s a “right” question or not) is lying in my books.

    It’s as simple as that.

    Direct selling is a nuisance. And I don’t think that I’m the only person who thinks so.

    The whole model is just a legalized pyramid scheme and economically flawed.

  3. LA Head Shot Photography Says:

    Your absolutly right about too many scams going on with in the internet community. I’ve lost more money over trying to start a new home based computer business, than I lost in trips to Las Vegas over several years! I’m new to computers, and it’s hard to tell some of the legit business offers from scams. for sure scams though start with, You won our lottery, a message from the almighty, here lies (name),or business proposition (this one is always from a different country than you are in and is always something that sounds illegale. then there are a bunch of fees before they deliver you your millions, if you give out any bank information, they clean out your account. I have to clean out these from my spam folder to the tune of about 50 per day! Todd