‘Manila Times’ columnist quotes PMT on FrancSwiss
July 12, 2007
Marit Stinus-Remonde, "Mission Impossible" columnist of the newspaper The Manila Times, quoted Pinoy Money Talk in a column she wrote on July 10 about the FrancSwiss scam.
Ms. Stinus-Remonde wrote:
"Is Francswiss a scam?" www.pinoymoneytalk.com asks in a June 22 posting, and answers "Not yet, but it will be. Soon. Trust us. We've been there and done that." And that's the point. We've seen pyramid scams before. We've seen the victims who lost their lifetime savings, entire families losing everything, including money that they had borrowed. Investors know that there is no way that a legitimate business can make the 4.5-percent daily interest that Francswiss promised. Yet, the "company" raised more than P300 million. Even if the NBI will be able to arrest and file charges against those behind Francswiss, the investors whose investments were used to pay the profits of the earlier investors, are unlikely to get their money back. It probably isn't any consolation to them, but at least they didn’t make money at the expense of others. A pyramid investment scheme is robbery, plain and simple.
Thank you for quoting us, but we hope the site URL in the column's first paragraph be rectified. Our site is www.pinoymoneytalk.com and NOT www.phinoymoneytalk.com.
Read the entire column piece here: Francswiss and marriage scams