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Fuel Saving Magnets: Fact, Myth Or Downright Scam?

Fuel consumption

Image credit: safoocat

After the recent fuel price increase, advertisements for fuel saving gadgets have been flooding the newspapers, magazines and radio stations. One type of most frequently advertised fuel saving device are magnets that are attached to the fuel line hose.

There are many fabulous claims made regarding the use of these magnets:

  • Save fuel
  • Boost engine performance
  • More complete burning

…all achieved through some weird process called molecular realignment or similar sounding, technical term that you’ve probably never heard of before. The main question is; Is it for real?

Read the rest of Fuel Saving Magnets: Fact, Myth Or Downright Scam? »

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.

Almost 60% Of Americans Are Oblivious To Online Scams

Apparently most Americans are trusting in nature when it comes to what they’ve read on the Internet. So much so that 58% of them probably thought that “online threats” doesn’t exist and only occur in Die Hard 4.0.

I find it suprising that a number of people fell for online scams for bizarre reasons like; “Well, they had a nice logo.

Mind you, I’m not unsympathetic to the victims. I was a scam victim as well, but of the offline type.

But fortunately for me, I manage to recover my money. Additionally, I shared my experience and many have either avoided gotten scammed or managed to recover their money as well as a result of this.

I think this simple formula could reduce the chances of you getting scammed: If it sounds too good to be true, it probably is!

Top 13 Worst Web Hosting Companies

Interesting… not a Top 10 list, but a Top 13 one instead. Web Hosting Unleashed has published a list of Top 13 Worst Web Hosting Companies.

Interestingly RegisterFly.com came up tops. Why does this name seem so familiar? Hmm… now I remembered, they are hosting the scam HYIP site WinliFund.com.

On a related note, I’ve been asked by a friend to check out yet another online investment site, very much similar to WinliFund.com; JinliCapital.com. Wow, RegisterFly.com hosts them too! And yeah, JinliCapital.com is definitely yet another HYIP scam targetting Malaysians.

Gaman at Sabahan.com has an interesting writeup which covers this area. The post is in Malay. Basically it translates to A Discussion On Internet Investments and Get Rich Quick Schemes. Worthy reading if you understand Malay.

What’s With Malaysians and HYIP?

Disclaimer: This writeup entirely reflects my opinion on this issue. Don’t take them as facts. However, even as I disclaim this, please take into mind the old adage: caveat emptor; let the buyer beware.

I don’t know whether to laugh or feel sorry for Malaysians who seem to rush into whatever is the latest HYIP fad that’s in fashion. Some of the more apparently popular program right now is ABBFund and WinliFund. I know that ABBFund is definitely dead as you can see from its supposed URLs:

  • abbfund.biz: A listing of an obviously abandoned directory
  • abbfund.net: Uses a frame to hold abb.com, a web site of a legitimate engineering company that has nothing to do with HYIP. To me, this is very irresponsible and further proves the criminal mindset of people behind ABBFund

Now it seems that all the hype is about WinliFund. Check out its home page. How can people with even half a brain not spot the glaring errors in the menu items; Researches and Contacts. They can’t even spell properly!

Scroll downwards and you’d see a link to a privacy policy in the footer. When you click on it, you’ll be greeted with a page full of lorem ipsum. If they somehow fix this, here’s the Google cache of WinliFund’s “Privacy Policy”.

The entire site is ripped off a template somewhere and they didn’t even bother checking it out before publishing it. But I guess you really have to move quick when your business is time-sensitive, you know, like, err, scamming.

In addition, check out winlifund.com’s whois info. Now tell me, if you’re running a successful investment company would you hide your domain’s registration info from the public? No reputable company would ever do that.

Aren’t there enough red flags there already? Probably you’d like to read what Malaysia’s Deputy Finance Minister has to say about the legality of such schemes (or should I say scams).