Beware, here're Some of the Scams in Singapore....

[Dennis Ng]

came across this useful article that listed out some of the scams in Singapore at a website: http://watcher-watchout.blogspot.com/20 ... ppers.html



Don't Be Scammed Out of Our Slippers?


Hey kids, Watcher here. Boy, am I in a foul mood today. Not only are my slippers missing, some scam artist sent me an email asking for my I/C number. Of course, I didn't bite — you gotta get up pretty early in the morning to fool the ol' Grumpster. I have received similar emails from Nigerian scammers disguised as they are from Japan, China, Taiwan, Africa and Hong Kong VIP's urgently seeking someone to take over their family or country inheritance.

I thought a nice mid-morning nap would calm me down, but no dice. First, years back Malaysia Clob shares took over my entire life savings after declaring that it didn't existed in Singapore. Now I'm being besieged by grafters and get rich quick scammers! Thoroughly annoyed, I researched the top "scam" searches. I came out with the list of companies involved with money games or so-called MLM investment schemes which had either gone busted or went against the law.

Shameful to say that I have also invested in some of them and lost a few thousand dollars. That is, after being persistently persuaded by friends who worked on my greed and the illusion of making easy money. Some of them are still actively around scamming investor for money. Most of them used similar models of "payplan" otherwise covering up actual "Ponzi" scheme to scam millions of dollars before they closed down the company and disappeared from the scene. Then many of those scammers got the cheek to pull the leaders together and start another company. Sure, they will start the scamming all over again.

Take a look at our top 15. Oh, and keep your eyes peeled for my slippers — 80 cent reward to whoever finds 'em first.

Sources on the lists:

1. Sunshine Empire (Emcom) - CLOSED DOWN!

Founder James Phang and some of his CEO's were charged in court by the Singapore government and CID on 5th march, 2009.

http://www.firstmillionchallenge.com/su ... o-be-true/

http://www.thelocalking.com/singapore/m ... mpire.html

2. Swisscash (Swiss Mutual Fund) - CLOSED DOWN!

The biggest money scam of the century, propelled by top scammers like Serene Chea from Singapore. She allegedly sold points for cash to investors who earned worthless points without the prospects of cashing out.

http://swisscash-investment-review.blogspot.com/

http://www.worldlawdirect.com/forum/int ... #post18890

3. BuyEbarrel - CLOSED DOWN!

Employed the similar tactics as Swisscash with promises of huge payouts for doing nothing!

http://www.talkgold.com/forum/r144694-.html

http://hubpages.com/hub/wwwbuyebarrelcom

4. Lucky Index - CLOSED DOWN!

Illegal gaming and lottery MLM scam.

5. MobileEwallet.com

Malaysia claimed to has been granted MSC Malaysia status by MDEC. A lot of members who invested in their payplan complained that they never get paid.

http://mobilewallet.bravehost.com/

http://www.thelocalking.com/explore/sun ... ionDateNew

6. e-Worldusa.com

Seen their comp plan. So much like pyramid. Claimed to be aiming for IPO's.

http://forum.lowyat.net/topic/713903/+0#entry17821689

http://mlmg.sgforums.com/forums/14/topics/266839

7. SMICAP.COM

Virtual shares that promise to return 100 times your investment. Virtual shares got no actual value. You have to get another investor to buy over your shares later.

http://answers.yahoo.com/question/index ... 104AA7GvQr

8. SINGCAP.COM

Owners are leaders that came out of SMICAP and used similar plan.

http://www.singcap.com

9. WCI - CLOSED DOWN!

Owners are Singapore two MLM leaders that came out from Sunshine Empire and Chu Fong (defuncted Taiwan MLM company). One of the Malaysian partner siphoned off all the money after promising huge returns for the investors into their bird-nests and oil farms in Malysia and Indonesia which did not existed.

10. Xthreem Online - CLOSED DOWN!

Members never get paid. Speaker by the name of Michael Reyes (Philipino) who claimed to be representative of Xthreem cannot be found after collecting hundreds of thousands of dollars from investors in SIngapore.

http://answers.yahoo.com/question/index ... 030AAGiWHP

http://xthreem-goa.blogspot.com/2007/11 ... eme-4.html

11. MegaeForex.com

They shut it down after scamming investors for two years but open up the site again to scam more people. The only problem is that the old investors had not been able to log into the site anymore without any reasons given to them. They left the site open so as to scam more people. However with their name listed as scam in the search engine, it will be harder for them to put a fast one anymore.

http://answers.yahoo.com/question/index ... 030310AAW0

12. Oilpod.com

http://tankinlian.blogspot.com/2007/12/ ... nture.html

http://www.lioninvestor.com/oilpods-update/

No payout was received by investors after some time with Oilpod.

A check on filings by Powder River to SEC shows that the company is having cash flow difficulties.

OilPods has instructed their legal representatives in the United States to take the necessary actions to protect the interest of investors.

13. ProfitableCapital.com

http://www.propertyscam.org.uk/d6plinks/7HCBME

http://www.lioninvestor.com/profitable- ... oup-alert/

Profitable Capital Group is a scam. They are misusing another company’s name to operate a ponzi scam that promises outrageous returns like Swisscash (or Swiss Mutual Fund)and unfortunately, many Singaporeans joined them and history always repeat itself.

14. Profitable Plots Landbanking

Raided by Malaysian Government! Investors in Singapore never get paid.

http://www.alantanblog.com/investment/l ... -scam.html

http://www.propertyscam.org.uk/d6plinks/7NYCFK