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
* 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
2. Second Type Money Game: Ponzi, Pyramid and MLM schemes
Examples: “Macau scam”,Yilin Wood pyramid scheme
3. Third Type Money Game: Fund raising with friends, family and fools.
4. Fourth Type Money Game: Big time investors, pension funds
Examples: Bernie Madoff of Bernard L. Madoff Investment Securities (US$64 billion fraud)
Published: 20th March 2020.
680 China Nationals detained in Malaysia for Online Scam Syndicate offering Fast Returns on Investments made via WeChat Pay