Don’t be duped by scammers in the Philippines! Report them to the authorities and send them to jail!
Ads Zens, Visioner 2020, Reyality Investment: Ponzi scams?
With most Filipino victims in the Visayas and Mindanao still reeling from the impact of the large-scale Aman Futures Group investment scam, the Securities and Exchange Commission (SEC) recently stepped up and forewarned the public against investing in three companies which appear to have makings of a possible Ponzi scheme.
Last month, the SEC issued a notice to the public that Ads Zens Broker Corp., Visioner2020 International Traders Inc., and Reyality Investment Corp. appear to be “high-yield, high-risk investment which may turn out as a fraudulent scheme.”
Beware of Gordion Hotel and Ensogo group buying site
Bad customer service can take a company down. Sadly, this basic marketing tenet seems to have been lost to Gordion Hotel (a Vigan-based hotel) and group buying website Ensogo.
It’s been one month now and my problem with a voucher I bought from Ensogo is still not solved. (For details on how this all started, read the other post Problem with group buying site Ensogo.)
Updates on the Royal Manchester Five scam
Just a month after the Royal Manchester Five scam became public, there seems to be less media attention now and the enthusiasm of victims to run after the scammers is beginning to die down.
We scoured the internet for recent updates on this scam but failed to get news on major developments. Here’s what we’ve seen, though.
Scam confirmed: RMF Trading Corporation
In the beginning, there was FrancSwiss.
Then came Performance Investments Products Corp. (PIPC) and Performance Foreign Exchange Corporation (PFEC).
Now, the latest multi-million peso scam to emerge is Royal Manchester Five, also called RMF Trading Corporation.
Several RMF agents and investors posting in the Royal Manchester Five discussion thread in the PMT Forum are confirming that the company is now officially a scam after the CEO and owner, 28-year-old Cyrus Hao, purportedly ran away with millions of dollars worth of investors’ money.
Says PMT member faithfully: All of the issued checks lately bounced kaya nag trigger na puntahan sa house na yung Chairman (Cyrus Hao) kase they can’t get hold of him and he’s the only one who has access sa bank accounts… it’s confirmed, the chairman ran off, the directors can’t find him anymore.. the house is empty and all bank accounts are closed.
Says suzette07: mukhang sa zamboanga daw dumaan then malaysia…
The development is strikingly similar to that of another fallen company PIPC, whose Singaporean owner Michael Liew allegedly fled the Philippines and disappeared with between $140 million and $250 million of funds in tow.
In the beginning, there was FrancSwiss.
Then came Performance Investments Products Corp. (PIPC) and Performance Foreign Exchange Corporation (PFEC).
Now, the latest multi-million peso scam to emerge is Royal Manchester Five, also called RMF Trading Corporation.
Several RMF agents and investors posting in the Royal Manchester Five discussion thread in the PMT Forum are confirming that the company is now officially a scam after the CEO and owner, 28-year-old Cyrus Hao, purportedly ran away with millions of dollars worth of investors’ money.
Says PMT member faithfully: All of the issued checks lately bounced kaya nag trigger na puntahan sa house na yung Chairman (Cyrus Hao) kase they can’t get hold of him and he’s the only one who has access sa bank accounts… it’s confirmed, the chairman ran off, the directors can’t find him anymore.. the house is empty and all bank accounts are closed.
Says suzette07: mukhang sa zamboanga daw dumaan then malaysia…
The development is strikingly similar to that of another fallen company PIPC, whose Singaporean owner Michael Liew allegedly fled the Philippines and disappeared with between $140 million and $250 million of funds in tow.
In the beginning, there was FrancSwiss.
Then came Performance Investments Products Corp. (PIPC) and Performance Foreign Exchange Corporation (PFEC).
Now, the latest multi-million peso scam to emerge is Royal Manchester Five, also called RMF Trading Corporation.
Several RMF agents and investors posting in the Royal Manchester Five discussion thread in the PMT Forum are confirming that the company is now officially a scam after the CEO and owner, 28-year-old Cyrus Hao, purportedly ran away with millions of dollars worth of investors’ money.
Says PMT member faithfully: All of the issued checks lately bounced kaya nag trigger na puntahan sa house na yung Chairman (Cyrus Hao) kase they can’t get hold of him and he’s the only one who has access sa bank accounts… it’s confirmed, the chairman ran off, the directors can’t find him anymore.. the house is empty and all bank accounts are closed.
Says suzette07: mukhang sa zamboanga daw dumaan then malaysia…
The development is strikingly similar to that of another fallen company PIPC, whose Singaporean owner Michael Liew allegedly fled the Philippines and disappeared with between $140 million and $250 million of funds in tow.
In the beginning, there was FrancSwiss.
Then came Performance Investments Products Corp. (PIPC) and Performance Foreign Exchange Corporation (PFEC).
Now, the latest multi-million peso scam to emerge is Royal Manchester Five, also called RMF Trading Corporation.
Several RMF agents and investors posting in the Royal Manchester Five discussion thread in the PMT Forum are confirming that the company is now officially a scam after the CEO and owner, 28-year-old Cyrus Hao, purportedly ran away with millions of dollars worth of investors’ money.
Says PMT member faithfully: All of the issued checks lately bounced kaya nag trigger na puntahan sa house na yung Chairman (Cyrus Hao) kase they can’t get hold of him and he’s the only one who has access sa bank accounts… it’s confirmed, the chairman ran off, the directors can’t find him anymore.. the house is empty and all bank accounts are closed.
Says suzette07: mukhang sa zamboanga daw dumaan then malaysia…
The development is strikingly similar to that of another fallen company PIPC, whose Singaporean owner Michael Liew allegedly fled the Philippines and disappeared with between $140 million and $250 million of funds in tow.
In the beginning, there was FrancSwiss.
Then came Performance Investments Products Corp. (PIPC) and Performance Foreign Exchange Corporation (PFEC).
Now, the latest multi-million peso scam to emerge is Royal Manchester Five, also called RMF Trading Corporation.
Several RMF agents and investors posting in the Royal Manchester Five discussion thread in the PMT Forum are confirming that the company is now officially a scam after the CEO and owner, 28-year-old Cyrus Hao, purportedly ran away with millions of dollars worth of investors’ money.
Says PMT member faithfully: All of the issued checks lately bounced kaya nag trigger na puntahan sa house na yung Chairman (Cyrus Hao) kase they can’t get hold of him and he’s the only one who has access sa bank accounts… it’s confirmed, the chairman ran off, the directors can’t find him anymore.. the house is empty and all bank accounts are closed.
Says suzette07: mukhang sa zamboanga daw dumaan then malaysia…
The development is strikingly similar to that of another fallen company PIPC, whose Singaporean owner Michael Liew allegedly fled the Philippines and disappeared with between $140 million and $250 million of funds in tow.
New scam using fake Paypal email
A Pinoy Money Talk (PMT) member emailed me yesterday to ask whether a Paypal transaction she is planning to enter into is a scam or not.
Apparently, some guy supposedly from the UK contacted her asking help to transfer Paypal funds. The guy claims he plans to visit the Philippines and needs help moving funds to the country.
This should already raise a red flag. Never, ever agree to such transactions because you may unwittingly be a conspirator to money laundering. A suspiciously large amount being withdrawn to a Philippine bank account raises the bank’s alarm and if you could not properly explain how you got the amount and why you are transferring money, you may be charged under the country’s Anti-Money Laundering Law.
It’s game over for AGLOCO
We knew it was coming, and now it’s official: pay-to-surf program AGLOCO is dead.
The same guys who owned and ran a similar program called AllAdvantage in early 2000 reinvented the business and launched AGLOCO.com late last year. They thought they already learned the makings of a successful “get-paid-to-surf-the-net,” but, from the looks of it, they did not.
It’s now the end of the road for AGLOCO, but unlike AllAdvantage where members were paid more than $160 million before going under, AGLOCO’s members did not see even a single cent.