If you think financial education is expensive, try financial ignorance instead.

Two notable investment schemes were in the news last week for all the wrong reasons, and they both had eerily similar characteristics of promising their investors unbelievably high monthly returns. Last week, investors cried out when their money didn’t come through.

You may call me skeptical, but I never believe folks who tell me they have any “lobang” or “proven tactic” which is “guaranteed to make money”. If money is really that easy to come by, then there wouldn’t be so many poor people in the world. I believe in hard work and patience instead.

Charter Fine Ventures offered their investors 15% in monthly returns and it is believed that investors deposited USD 20 million with them, whereas JJPTR offered 20% and went on to lose 500 million ringgit in a single day (>USD 100 million). I can only …