Scammers

Reports have it that more than 15,000 people were victimized by the Ponzi scheme. Politicians, doctors, lawyers, teachers, government employees, retirees down to tricycle drivers and carpenters all fell prey to the sweet talk of Aman Futures Group - an investment company that promised them heaven but put them to hell. According to complaints, the company offered to double their money in less than a month but not a single cent of profit was ever returned to them. What's terribly disturbing is that investors are in a quandary if they ever get to have their money back.

The party may be over for Manuel Amalilio, the reported master "scam bug" after his arrest, two weeks ago. But investors cannot party yet because authorities have yet to recover and trace where, Amalilio and his cohorts, dumped all the money they have amassed since they started operations last January of this year. As of late, of the 12 billion hard-earned money that was bled out of the unsuspecting investors, the government was able to recover only one percent or P200 million. So if you split the money equally among the 15,000 people who were hoodwinked by Aman, each will get somewhere between 13 to 15 thousand pesos. It’s better than nothing though, we can only hope that government will be able to recover everything or at least half of it, which I bluntly doubt.

***

Ponzi schemes and pyramiding scams are not new to us. We get to read and see this the whole time. And yet, it is quite disconcerting that a lot of us are still lured by these quick-buck schemes – as if we get Alzheimer’s the whole time whenever we get face-to-face with people who say that they can turn any Tom, Dick and Harry big time in no time. Sometimes, I entertain the idea that we have not completely abandoned the “Juan Tamad” in us because are driven by our desire to make money without lifting a finger that’s why we easily fall into the trap. Or, is it because we’re not educated well enough when it comes to investments? But whatever it is, scammers will be there to exploit every weakness we have to coax you into putting your money to their scheme.

And I think to avoid scammers to come your way is to never let anyone know that you have the money or hint that you have the means to borrow. Remember, tricksters and scammers do not care if you have the money. Anyone is a “prospect” to their gambit. And there are many ways they can get through -- either by asking you to borrow from a rich relative or ask you to introduce your relatives or friends to them and victimize them instead.

People do not get rich overnight, people get rich over time. This, we have to embed in our minds. Business empires were built from decades and even centuries of hard work and by the people who composed them.  A person can only get rich overnight and without the help of others is when he is lucky enough to win the lottery.

Double your money is only true in the casinos.  If someone offers you a business and promises you to double your money in less than a month, he is not at all a businessman – he is a gambler. Unless you’re a gambler yourself, you can by all means, entrust your money to the guy. But hey, have you ever heard of a successful gambler?

I think people should be aware that banks make a lot of money in lending. Lending rate days nowadays is like 12 percent per annum or one percent per month. Therefore, if someone offers you to return your money that’s way above the bank’s lending rate, you have a reason to be suspicious.

Nothing beats the wisdom and unfailing insight of our old folks. To be rich is to just simply think big and work hard – that’s the only way. If there is another way better than this, chances are, it’s a scam.

***

Send emails to [email protected]