Read? Better safe than sorry: Resist urge to invest in too-good-to-be-true schemes
... Such investment scams are usually managed by people who hold meetings in posh offices and hotels, which boosts their public image and lend credence to their products.
Some investments appear to providesome form of insurance, which investors wrongly believed could protect their capital.
Many of these investors then invited family members and friends to participate, partly because there are commissions to be earned when they refer fresh candidates and partly because they truly believed the schemes were bona fide.
Real People. Real Losses
CW8888: Oilpods scam; one ex-colleage's spouse, siblings and close relatives all die together!
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One 55-year-old investor who put almost $40,000 into an oil bunkering scheme, expecting 15 per cent monthly returns over eight months, recalled how stressful the experience had been for her. In her case, her nightmare began after receiving just two payouts ......