Friday, May 15, 2015

Call it whatever, PONZI SCHEME is here to stay

Pon·zi scheme
ˈpänzē ˌskēm/
  1. a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

Ponzi scheme is not something new in Malaysia.

Everyday there are stories of people especially the retired ones getting cheated.  Yet not many master mind are caught.  Simply put Bank Negara, Bank, PDRM and other enforcement agencies are also involved in such scheme. Top guns like Zeti and her Deputy are also involved in such scheme but because they belong to the elite of cronies within UMNO, they are free to do so in scheme that rake in millions per day.

Even political parties are not spared from scammers within it own members.  Money from donations and government fund are misused for jolly expenses. RM600 million for flood victims from the Government last year went into jolly accounts and not a single sen was given to the poor victims who are still without a roof over their heads. Even PASMA scammed the flood victims in Kelantan when LGE gave a donation of RM8 million. 

Every disaster arises means money coming in.  Offer for help comes in many form but in the end it boils down to money going into private pockets.  I know of two (2) organisations that receives million each year from kind sponsors and Government making the founders of such charity rich beyond imaginations. Both founders are women.  Today biggest crooks are not men but women.  Men crooks were big during Mahathir Kutty's time but now women have become more evil unlike the olden days where we are not materialistic.

Yesterday big news was Nazifuddin one of PM's son in UFun.  Nazifuddin like other ex-Ministers, Ministers and their family members have always being involved in Ponzi Scheme.  This is common because people with money are never satisfied with their sinful wealth.  They want more and more.

The real reason why UFun was given front coverage was because certain people wanted the PM to resign.  If the PM gives in then no action will be taken against the son.  Not all Malaysians lives in caves today.

Few years back even though I was not a victim of such scheme I reported Exelasia Venture Sdn. Bhd who cheated more than 45 people out of RM20 million to Bank Negara, PDRM, Pak Lah who was the PM then, AG and MACC.  After more than 20 police reports and 10 letters to them, the case went into cold storage.

The people inside Exelasia Venture Sdn. Bhd were:-

Lawyer Lim from Lim & Keong Advocates and Solicitors
George Kurka (Mykad 621204-13-5321)
Chin Lai Fun (Mykad 671107-08-5882)
Sansudim Bin Ariffin (Mykad 560927-11-5141)

The reason why it went into cold storage was George Kurka was a relative of Musa Aman.
Sansudim was a runner for UMNO senior members.

Today another scam is in town by the name of Black Mineral.

Interesting enough this company is very bold in their agreement with potential victims.  In the agreement it clearly states YOU CANNOT SUE THEM FOR YOUR LOSS AND RETURN OF INVESTMENT.

I know for a fact no authorities will take action on this company or UFun big Taiko but as a concern Rakyat it is my duty to inform all victims to such scheme to go gamble in Genting instead of losing your life saving to such crooks.  With Genting your chance of getting back is 10% whereas Ponzi Scheme is only 0.001%. Such company do not last more than 2 years in one place and will move to other areas looking for more victims.  Let it be known that such Ponzi Scheme are here to stay because of strong connection within BN parties.


Hermes said...

Hi, interesting to see that you have uncovered the Ponzi scheme of Black Mineral and ASMC. Are you saying that the scheme is run by people very well connected with the establishment? Because you said that they will never be prosecuted. They may have a contract that states that they cannot be taken to court but a civil case is different from a criminal case and Ponzi schemes is criminal and they can 100% be taken to court

Also the tables were not clear at all, in fact illegible. Would be great if you have a clearer copy

Unknown said...

Investor Alert !

MAS ( Monetary Authority of Singapore Watchlist )

Black Mineral Pte Ltd

[This entity is related to Asia Strategic Mining Corporation Pte Ltd]
1 North Bridge Rd,
High Street Centre,#06-23,
Singapore 179094
Tel: (65) 6338 0029
[Listed: 7 April 2016]

Hermes said...

wow. Have there been any complaints from people who have invested in the scheme?

Unknown said...

I have been to Black Mineral investment talks in JB but actually their HQ is in Singapore. For S$50,000 you can get a return of 36% a year. I am very tempted by this returns they are promising. They are very persistent in encouraging investors to participate but when I asked for annual report, they hessitated and have not shown me any. Also, one banker says ASMC loan is facing problems. I am not sure if this is a scam yet. Their investors have visited the coal mining site in Kalimantan. All these are to convince investors that they are not a fly by night company. Any comments.

Unknown said...

MAS alert list is for all investment company invovle in financial investment but not banks. Is normal because government do not gurantees your money back unlike in banks. But when singapore banks collapse, u are guranteed only a certain portion not all your savings.

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