Paid-up Capital

[Gecko]

if you are willing to put up $20,000 to become a shareholder of the company, the director of the company, a 26 year old young man will top up your investment by another $130,000 to make it a total of $150,000. Supposedly, when the company is listed on the New York stock exchange next year, all shareholders can expect huge profits.

Loh, have a good laugh and walk away....

[Orion]

You can check with CAD(Commercial Affair Department) on this matter, you can Click >Here< on the details on Sunshine Empire case. Hope this helps.

CAD contacts:
You can contact the CAD office at 6557 3918 during office hours. Our office hours are 8.30 am to 6.00 pm on Mondays to Thursdays and 8.30 am to 5.30 pm on Fridays.

Thanks for the info.
I am lucky cause I don't have that much money....
only a few miserable rounds and still waiting and rusting..

[Orion]

StudioTraffic is one such Ponzi Scheme which I most unfortunately fell for. Everything looks legit, from the professional online staff and forum moderators to cheques paid out to local Singaporean investors via UOB. It is a well-oiled machine with all the necessary cogs and bolts that makes it seem so real. The funny thing was, the forum moderators were all non-paid volunteers and even they themselves was sold on the "product".

Sounds scary. Even smart educated people are victims.

[blue33]

There are always scam around, just open WIDE your eye and ears. Just remember "天下没有白吃的饭"(no free meals).

[blue33]

I do attend before such cases without getting anything from them, but i took their free gift(shopping voucher) and immediately use it. They reallllllly... look unhappy with me ...

[Orion]

There are always scam around, just open WIDE your eye and ears. Just remember "天下没有白吃的饭"(no free meals).

Agreed. This one everybody knows,but people still get cheated with their eyes fully opened. Perhaps is something to do with human psychology, exploitation of human weakness.

I can bet that the numbers of people who got cheated by scams are massive here in Singapore. Even intelligent people like professors are victims.

[Orion]

I do attend before such cases without getting anything from them, but i took their free gift(shopping voucher) and immediately use it. They reallllllly... look unhappy with me ...

Good one. Sometimes I got so much free time after work I attend some. I act gullible and agreed to everything except the signing of the dotted line part. So shiok to see red faces.

[blue33]

One of my relatives came across a international scammer that every few years they will setup some kind of cheating. Once they used up the $ they will make a come back again. Well they look filthy rich people, who knows they are the one.

[oblivion]

it all works because of one thing called human nature ==> greed

[hwchoy]

I am not even a skeptic. I apply the hokkien-soldier's version of Occam's Razor: "you siao ah, got such good intro" and the Cantonese saying: "got such big frogs hopping down the street?"

[hwchoy]

I think at this point CAD may not be able to do anything as there is no actual act of fraud. They could demand an explanation for the large declared capital.

[Orion]

There are times when such people approach me with very complicated schemes with complex formulas and keep me asking things till they tell me:

TRUST ME. JUST PUT IN THE MONEY AND ASSURED PROFIT IN SHORT PERIOD OF TIME.

I not walked away, I ran and I can say they are getting better each time.

As usual, need to have complaints and fraud cases before the authorithy steps in

[timebomb]

the Cantonese saying: "got such big frogs hopping down the street?"

My late mother was fond of quoting this saying too. But the correct translation should be "where got such a big female quail hopping down the street".

Loh K L

[timebomb]

it all works because of one thing called human nature ==> greed

I don't think it's because of greed. Greed is a factor of course but when people fall for scams, I think it's because they are guided by their emotions instead of their intellect. We tend to reject things that makes us feel uncomfortable and stick to those that makes us feel good. We also hate to flip-flop because changing your mind over an issue would mean that you have to admit that you made a mistake initially. And people just hate to do that. So chances are once we start to believe in something, we will reject or ignore all evidence that is contrary.

A scammer basically appeals to your emotions. He tells you things you want to believe is true.

For instance, most of us here can tell that when the offer is too good to be true, it usually is. But my relative does not see it from that angle. The way he sees it - it's an opportunity of a lifetime and he was given that opportunity because fate has a hand in it. He feels that such opportunities are not available to everyone but only to lucky individuals like himself. It's silly to think like that of course but he isn't the only one around who believes he's special. Many of us feel the same way too.

Loh K L

[blue33]

One thing for sure is nobody like to hear bad words but only good words. Once they know your weakness, thats it.

[Orion]

One thing for sure is nobody like to hear bad words but only good words. Once they know your weakness, thats it.

and so we have to start appreciating those who 'critically abused' you mentally to give you a wake-up call. Start by having counter-intuitative logic thinking, more abuse is more caring to you....like my BOSS.

[blue33]

... lucky i dont work for others... Oops...

[Orion]

... lucky i dont work for others... Oops...

Not true.. I only work for my Boss whereas you work for all your Customers.

[blue33]

Not true... i choose my customer.

[timebomb]

Just a follow-up on the story if you are interested -

My relative invested the $20,000 about 2 weeks ago. He also got another relative involved too. Last I heard, all investors were treated to a grand dinner where more than one hundred people turned up. I don't know all the details as my relative is quite secretive about the whole thing. That's understandable as I was highly critical of the scheme so he does not want me to know too much. Whatever I know about his part in the investment scheme was told to me by his wife. Not directly though. His wife told my wife who told me.....

But I'll share with you what I know as they are revealed to me.

Loh K L