Tuesday, February 3, 2015

Important Learning Points From Yet Another Bogus Gold Buy Back Scheme - Suisse International

According to the report in today's Strait Times, more than 100 "investors" file police report against gold buyback firm, Suisse International. From the report, around 250 people have been scammed in this "too good to miss" gold buy back scheme and the total amount involved is around $35 millions. 

I have no interest to find out more about the scheme or why they keep succeeding in scamming people out of their hard-earn money? Most of the time, GREED is the main culprit.

Having said that, there is always learning (or re-learning) lessons from such incident. Following are my take:

Learning Point #1 : If the promise seems too good to be true, most of the time, it is NOT true!

Learning Point #2 : Most of the time, those get rich quick scheme is TRUE! But, the issue is they are the one get rich and NOT you! 

Learning Point #3 : Never part with your money without doing any due diligent check on the provider, when in doubt (or you can't convince yourself), SIAM ("avoid" in Hokkien) 

I am sure this will not be the last case of such nature (as long as there is human being, there is greed), the important thing is to make sure we are staying alert and not falling victim of such scheme.

Cheers!

6 comments:

  1. Won't be the last , uncle rich... but they (black sheeps) have ruined our honest retailers rep!!!! Grrrr

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    1. Ken, not so serious lar, I guess honest retailers rep like yourself would rather target on those who know what they are buying and done their due diligent, just continue to be honest and tell them the true/fact about the risks involved without over promise... You will be fine.. Keep going.. Keep smiling...

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  2. Coincidentally, I was just reading on home investments by S'poreans in US gone bad. Agree with your point #1 totally. http://business.asiaone.com/news/home-investments-the-west-gone-south

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    1. TI: again, greed is at work here.. ;-)

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  3. From the report, around 250 people have been scammed in this "too good to miss" gold buy back scheme and the total amount involved is around $35 millions. official source

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    Replies
    1. Elizabeth : Thanks for dropping by and comment. Ya, it's kind of scary...

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