Call it whatever, PONZI SCHEME is here to stay

Pon·zi scheme

ˈpänzē ˌskēm/

noun

1. a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

Ponzi scheme is not something new in Malaysia.

Everyday there are stories of people especially the retired ones getting cheated.  Yet not many master mind are caught.  Simply put Bank Negara, Bank, PDRM and other enforcement agencies are also involved in such scheme. Top guns like Zeti and her Deputy are also involved in such scheme but because they belong to the elite of cronies within UMNO, they are free to do so in scheme that rake in millions per day.

Even political parties are not spared from scammers within it own members.  Money from donations and government fund are misused for jolly expenses. RM600 million for flood victims from the Government last year went into jolly accounts and not a single sen was given to the poor victims who are still without a roof over their heads. Even PASMA scammed the flood victims in Kelantan when LGE gave a donation of RM8 million. 

Every disaster arises means money coming in.  Offer for help comes in many form but in the end it boils down to money going into private pockets.  I know of two (2) organisations that receives million each year from kind sponsors and Government making the founders of such charity rich beyond imaginations. Both founders are women.  Today biggest crooks are not men but women.  Men crooks were big during Mahathir Kutty's time but now women have become more evil unlike the olden days where we are not materialistic.

Yesterday big news was Nazifuddin one of PM's son in UFun.  Nazifuddin like other ex-Ministers, Ministers and their family members have always being involved in Ponzi Scheme.  This is common because people with money are never satisfied with their sinful wealth.  They want more and more.

The real reason why UFun was given front coverage was because certain people wanted the PM to resign.  If the PM gives in then no action will be taken against the son.  Not all Malaysians lives in caves today.

http://www.sarawakreport.org/2015/05/najibs-son-is-still-a-significant-shareholder-of-ufun-linked-company-exclusive/

Few years back even though I was not a victim of such scheme I reported Exelasia Venture Sdn. Bhd who cheated more than 45 people out of RM20 million to Bank Negara, PDRM, Pak Lah who was the PM then, AG and MACC.  After more than 20 police reports and 10 letters to them, the case went into cold storage.

The people inside Exelasia Venture Sdn. Bhd were:-

Lawyer Lim from Lim & Keong Advocates and Solicitors

George Kurka (Mykad 621204-13-5321)

Chin Lai Fun (Mykad 671107-08-5882)

Sansudim Bin Ariffin (Mykad 560927-11-5141)

The reason why it went into cold storage was George Kurka was a relative of Musa Aman.

Sansudim was a runner for UMNO senior members.

Today another scam is in town by the name of Black Mineral.

Interesting enough this company is very bold in their agreement with potential victims.  In the agreement it clearly states YOU CANNOT SUE THEM FOR YOUR LOSS AND RETURN OF INVESTMENT.

I know for a fact no authorities will take action on this company or UFun big Taiko but as a concern Rakyat it is my duty to inform all victims to such scheme to go gamble in Genting instead of losing your life saving to such crooks.  With Genting your chance of getting back is 10% whereas Ponzi Scheme is only 0.001%. Such company do not last more than 2 years in one place and will move to other areas looking for more victims.  Let it be known that such Ponzi Scheme are here to stay because of strong connection within BN parties.