Alarm bells ring for scammers

Posted on December 9, 2007 by admin
Alarm bells ring for scammers - Malaysia Star, December 9, 2007
...Easy Network Marketing, which appeared at a trade exhibition at Muang Thong Thani’s Impact Arena, launched a rice seed scheme. People were told if they invested Bt1,200 to buy 35 kilos of rice, they would get half the money back in five days. Within 30 days, it was promised they would get the principal back. From then on, he or she would begin to see monthly profits.
Hundreds of people fell for this rice seed scheme, which soon raised some Bt1 billion in cash. It was a similar story with Bangkok Noodles.
People were told to invest Bt45,000 in the company and you will get two big pots for making noodles. And over the next 10 months, you will see returns of Bt10,000 a month.
People invested in this scheme without having to sell real noodles. Actually, there were no Bangkok Noodles for anybody to buy and eat. It was simply a fictitious noodle scheme, which, again, relied on the cash contributions from latecomers to finance the profits of the early birds...
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