In the past few days, we've read about Francswiss in the newspapers and how this (among several others) internet-based investment scheme has fooled some of our countrymen to invest their money for abnormally high returns. I mean 4.8% daily? Not even our domestic credit card companies make that much money so where will the bright people behind Francswiss place your hard-earned USD 1,000?
Through the years, we have seen that if something sounds to good to be true, all of the time -- it is. Charles Ponzi, who also had scammy deals way back in the early 1900s, and those who came after him, know only too well that some people will be willing to risk what they have for a quick and high return. In a Ponzi-like investment scheme, early payments are made out of money invested by subsequent investors. It thus pays to get in early, take some early profits, and if you are lucky enough, get out before everything comes crumbling down.
Still, there is really no substitute for hard work and good ideas as a way to get ahead and earn just as there is no solution to greed that makes people think blindly of profits no matter what the cost. So, the next time these Ponzi Pilato come up with another scheme and offer you this rare investment opportunity which will earn you super-high returns, do what my favorite radio commentator on DZBB Jimmy Gil suggests: "Pitikin nyo sa ilong." (Hit him or her on the nose.)
Having done that, walk away (with your money intact) and call the Anti-Money Laundering Council Secretariat at 523-4421 or 536-7358 to report these individuals.