Francswiss and other online scams

Ka Edong talked about the recently busted Francswiss pyramid scam here and here. A month ago, a good friend of mine has invited me to invest. My first reaction: “this is a scam, no doubt”. Reasons:

* 4.5% interest a day is too good to be true. I was thinking, if the owners of this company can earn this much, why would they need additional infusion of funds from other investors?

* Their website is amateurish. Somehow, being in the web development industry for 6 years, I can spot what website has been given a great amount of attention and which is rushed. In my mind, if this supposed multi-million dollar company cannot invest in a professionally produced website, how can they convince me that they can provide 4.5% of interest a day?

* Lastly, assuming this is legit, how sure can i be sure of receiving the remittances from them without having the problems even clients of a legitimate online service such as Paypal have?

Sad. One billion pesos from pinoys. Gone. Nada. Poohff! I tried to warn my friend. I hope he did not fall.

Hard earned money should always be on top of our list of priorities. Always.

  • http://www.juicebee.blogspot.com Ela

    One billion pesos from us? That’s scary, I hope this will not
    have a visible effect on our economy. I’m thinking why many of us still fall to these schemes?

  • http://www.juicebee.blogspot.com Ela

    One billion pesos from us? That’s scary, I hope this will not
    have a visible effect on our economy. I’m thinking why many of us still fall to these schemes?

  • http://arnoldgamboa.com Arnold

    Yes, Ela. That huge to the point of economic sabotage. I guess we need to educate the people about these kinds of schemes.

  • http://arnoldgamboa.com Arnold

    Yes, Ela. That huge to the point of economic sabotage. I guess we need to educate the people about these kinds of schemes.