The Philippine Overseas Employment Administration (POEA) advised job applicants intending to apply for a job in the United Kingdom to be wary of online offers that can supposedly send them to UK using only a student visa.
NBI Press Release on FrancSwiss
Following the arrest of Eleazar Castillo, alleged "chief financial adviser" of the online high-yield investment program (HYIP) FrancSwiss, the Philippine National Bureau of Investigation (NBI) released on July 6 a press release explaining the details of the arrest.
The NBI accused Castillo and nine others, including an American and two Singaporean nationals, of involvement in a large-scale online investment fraud. The arrest stemmed from complaints filed by three Filipino investors against the suspects. Charges of syndicated estafa have been filed against the latter by the NBI.
Full text of the NBI press release after the jump.
7 Tips on HYIP and Online Investing
You have started investing in online High Yield Investment Programs (HYIP)? Be warned: 99% of investment offers you see on the internet end up as scams.
But if you do intend to lose money online, read on because we have prepared a list of seven easy steps that will surely help you lose your hard-earned money to scammers on the internet.
Did you lose money in FrancSwiss?
Earlier last week, a news reporter from a major TV channel emailed Pinoy Money Talk and asked if we can recommend people who would be willing to sit for an interview to talk about their losses in the online investment program FrancSwiss.
Our reply, at that time, was that it might be difficult to find those people because FrancSwiss is technically still not a scam because it has not stopped paying yet. Our opinion was that investors would not badmouth a program they think has not done anything wrong.
Fast forward several days later, and FrancSwiss was declared a Ponzi and a scam-waiting-to-unfold by the Philippine SEC, BSP, and media channels. No sooner than that, all FrancSwiss websites went down, the operators were nowhere to be found, and no investor received payment in the last few days.
FrancSwiss being officially declared a scam is now starting to sink in to most people. Investors have started telling their own FrancSwiss stories — including stories of financial losses, of distrust in the people who referred them to the program, and of deception, hopelessness, and confusion.
Here are some of these stories, taken from the Comments section of the article Is FrancSwiss a scam? and the HYIP: FrancSwiss discussion thread. True or not, these stories are surely something FrancSwiss investors can relate to.
Read on.
3 Types of HYIP investors — Which one are you?
PinoyMoneyTalk.com started in 2005, initially with the aim of providing Filipinos with an objective guide to successful investing in High-Yield Investment Programs (HYIP). In our more than two years of experience in the HYIP industry, we have seen different types of investors come and go.
In this article, we present to you what we think are the three basic groupings of HYIP investors: the Cheerleader, the Naive Player and the Informed Gambler.
Which one are you?
Is FrancSwiss a scam?
It seems the newest craze in town is not anymore Koreanovelas, Pinoy Big Brother, or celebrity video scandals, but an HYIP “pretending to be a genuine investment program” called FrancSwiss.
The buzz is that even actors like Raymart Santiago and Claudine Barretto and TV broadcaster Korina Sanchez have “invested” in the program. With a 4.5% promised return per day, who could resist this kind of offer?
Without a doubt, hundreds of investors have already made big profits during the past months. But would thousands cry and wail once the program is gone and has stopped paying?
Swindling and fraud issues hound Legacy Group and Rural Bank of Paranaque
Recent updates:
- The cunning but wise Celso de los Angeles, Jr.
- Update on the bank run of Legacy rural banks
- All about the Legacy Group and the collapse of rural banks and pre-need companies
The Legacy Financial Group and the Rural Bank of Paranaque (also called Banco Paranaque) of the famous double-your-money time deposit programs are now being thrown into the limelight following recent news articles that mention the bank’s supposed involvement in swindling, fake certificate of time deposits (CTDs) and extortion. The bank has come clean and denied all accusations.
Who between the accused and the accusers is telling the truth? How will this affect the high-yield time deposit placements of the bank’s depositors? Read the news stories below which were published in some local dailies and judge for yourself.
12DailyPro: Overview of an Autosurf Program-turned-Scam
In mid-2005, Charis Johnson began operating 12DailyPro (www.12dailypro.com). 12DailyPro or 12DP, as investors called it, was an an autosurf program wherein investors were promised 12% return on their invested funds every day for twelve days. In order to receive the daily earnings, members were to run a program on their computer that would automatically view certain websites and thereby purportedly generate advertising revenue.
Ms. Johnson was extremely successful in attracting investors and raised approximately $500 million in less than nine months. Investors’ money was handled not by 12DP itself but by third party Internet payment processors such as Stormpay, EMO, and e-gold.
In mid-2005, Charis Johnson began operating 12DailyPro (www.12dailypro.com). 12DailyPro or 12DP, as investors called it, was an an autosurf program wherein investors were promised 12% return on their invested funds every day for twelve days. In order to receive the daily earnings, members were to run a program on their computer that would automatically view certain websites and thereby purportedly generate advertising revenue.
Ms. Johnson was extremely successful in attracting investors and raised approximately $500 million in less than nine months. Investors’ money was handled not by 12DP itself but by third party Internet payment processors such as Stormpay, EMO, and e-gold.
In mid-2005, Charis Johnson began operating 12DailyPro (www.12dailypro.com). 12DailyPro or 12DP, as investors called it, was an an autosurf program wherein investors were promised 12% return on their invested funds every day for twelve days. In order to receive the daily earnings, members were to run a program on their computer that would automatically view certain websites and thereby purportedly generate advertising revenue.
Ms. Johnson was extremely successful in attracting investors and raised approximately $500 million in less than nine months. Investors’ money was handled not by 12DP itself but by third party Internet payment processors such as Stormpay, EMO, and e-gold.
In mid-2005, Charis Johnson began operating 12DailyPro (www.12dailypro.com). 12DailyPro or 12DP, as investors called it, was an an autosurf program wherein investors were promised 12% return on their invested funds every day for twelve days. In order to receive the daily earnings, members were to run a program on their computer that would automatically view certain websites and thereby purportedly generate advertising revenue.
Ms. Johnson was extremely successful in attracting investors and raised approximately $500 million in less than nine months. Investors’ money was handled not by 12DP itself but by third party Internet payment processors such as Stormpay, EMO, and e-gold.
In mid-2005, Charis Johnson began operating 12DailyPro (www.12dailypro.com). 12DailyPro or 12DP, as investors called it, was an an autosurf program wherein investors were promised 12% return on their invested funds every day for twelve days. In order to receive the daily earnings, members were to run a program on their computer that would automatically view certain websites and thereby purportedly generate advertising revenue.
Ms. Johnson was extremely successful in attracting investors and raised approximately $500 million in less than nine months. Investors’ money was handled not by 12DP itself but by third party Internet payment processors such as Stormpay, EMO, and e-gold.