Personal Development, Finance, and Investing For Filipinos
An investment in knowledge always pays the best interest. Financial Education is your best investment.
Ponzi scheme organizers lure prospective investors with high returns.
What is a Ponzi Scam?
A scammer pretends to be a successful investment manager, owner or representative of a bogus investment company, or head or member of a reputable organization but, in reality, does not have an existing investment portfolio. The scammer would offer high returns in a short period of time, promising guaranteed profits with little or no risk of loss. The scammer is usually a skilled, charming, and convincing communicator who encourages investors to also invite others to invest and promises commissions for new recruits.
What is a Pyramiding Scam?
Scammers convince investors to buy an investment product, and promise high earnings over a short period. Investors are required to recruit other buyers as their earnings increase based on the number of new recruits. Scammers normally pay investors back during the initial stages to appear legitimate and encourage more investors to buy the product. The “pyramid” eventually collapses when the money coming from new investors is not enough to cover the payouts to earlier investors.
How to know if MultiLevel Marketing is a Scam?
Caution! If the answer to any of the following questions is No, it might be a scam!
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.