The lure of high returns and easy money has burnt many of their hard-earned savings.

And yet, many more are lining up after being invited by friends, or hoping to make a quick buck and even quicker exit.

What is the allure of these “money games”?

What are money games

  • An illegal pyramid or ponzi investment scheme.
  • High returns of 6% or more EACH month (get rich quick scheme)
  • You make back your money typically after six months to a year, and beyond that would be earnings.
  • Paid to recruit people as your downlines.

Why not to invest in money games

  • Unsustainable and you’re gambling that it will not collapse while you’re in it.
  • Relationships with friends and family will sour or be destroyed when you “recruit” them, and they end-up losing money when the money games collapse.
  • You are not adding any value to the world but simply making money (stealing) from others.
  • It’s illegal: if you promote or conduct a pyramid scheme, you will be fined or jailed up to five years.

How to know if it’s a money game

  • It’s blatantly introduced as a money game.
  • Excesses, riches, luxury properties, celebrities, and titles are openly flaunted, appealing to human greed.
  • Returns above 15% per annum (some as high as 20%, 30%, 40% or more).
  • “Guaranteed returns” (which are of course guaranteed by the company until it collapses).

Common money games tricks

  • Masquerades as a legitimate investment in forex (FX), commodities, shares, travel packages, real estate, virtual currency, social networks, and businesses.
  • Have some secret technology/robot/advantage that allows them to make awesome returns which they will let you in on for an “investment” as they need more “capital”.
  • Some give “points” which you can convert into spending while some pay cash directly into your bank account.
  • Investment into “eShares” which are not actually shares. And/or conversion into worthless “shares” when the scheme is no longer sustainable.

Popular money games

 

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* Source: Google search on “money games Malaysia”

  • JJ Poor to Rich / JJPTR
  • MBI International / M Face
  • SV International / SVI
  • Mama Captain / Barrel2u
  • UFun Club / UFun Group / UToken

Failed money games

  • MBI International Group found guilty as pyramid scheme in China (wenshu.court.gov.cn – Chinese)
  • JJPTR money game feared collapsed after alleged “hack” (guangming.com.my – Chinese)
  • Game over for JJPTR (theborneopost.com)
  • Money game collapses and losses in millions (including some who invested all their EPF retirement savings) (thesundaily.my)
  • The Fall of JJPTR (alphaplay.com.sg)
  • JJPTR attempting to relaunch yet again… with even higher promised returns! (thestar.com.my)
  • JJPTR HQ in Perak Road, Penang raided by BNM, SSM, & CCID (thestar.com.my)
  • JJPTR’s Johnson Lee and 2 others arrested (thestar.com.my)
  • MBI and M Face added to BNM’s financial consumer alert list (BNM)
  • MBI founder arrested & RM32m seized including 3 luxury cars (freemalaysiatoday.com)
  • SV International (SVI) added to BNM Financial Consumer Alert List (bnm.gov.my)

This article first appeared in https://mypf.my

 

Beware money games: If it’s too good to be true, it isn’t

 

#RobertReview: 9 | 10

Scammed by the First Type of Money Game (Entry Level). “If it’s too good to be true, it usually is!”

There are 4 Types of Money Games:

1. First Type Money Game: targets entry level and first-time small investors
Examples: JJPTR, MBI

jjptr-feat1

2. Second Type Money Game: Ponzi, Pyramid and MLM schemes
Examples: “Macau scam”,Yilin Wood pyramid scheme

pyramid-scheme

3. Third Type Money Game: Fund raising with friends, family and fools.
Examples: CO2 co-working space, iRewards

4. Fourth Type Money Game: Big time investors, pension funds
Examples: Bernie Madoff of Bernard L. Madoff Investment Securities (US$64 billion fraud)

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Published: 20th March 2020.

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680 China Nationals detained in Malaysia for Online Scam Syndicate offering Fast Returns on Investments made via WeChat Pay