Anyone made tonnes of money after attending quick get rich seminars? Anyone been caught in a scam like Sunshine Empire or Gold Gurantee? Let's share honestly our learning points so no Singaporeans will ever lose money to a scam ever again =)
of cos im not sharing, rite.
We'll start the ball rolling then...
A common scam is a Pyramid scheme. They are illegal, ‘get-rich-quick’ schemes that cost victims to lose money.
Promoters at the top of the pyramid make their money by having people join the scheme. Then they pocket the fees and other payments made by those who join under them. In a typical pyramid scheme, a member pays to join. and convince other people to join up and to part with their money as well.
In contrast, people in legitimate multi-level marketing earn money by selling genuine products to consumers, not from the recruiting process. Be aware though, some pyramid scheme promoters disguise their true purpose by introducing products that are overpriced, of poor quality, or of little value. Making money out of recruitment is still their main aim.
For the scheme to work so that everyone can make a profit there would have to be an endless supply of new members. In reality, the number of people willing to join the scheme (and therefore, the amount of money coming into the scheme) dries up very quickly. When the pyramid collapses (and they all do) relationships, friendships and even marriages can be destroyed over money lost in the scam.
Singapore has had its fair share of pyramid schemes. Sunshine Empire was one nasty one that conned its victims in Singapore and Malaysia hundreds of millions of dollars. Don't take our word for it. Google and find out.
The Get Rich Quick Internet Scheme That Works : http://priceonomics.com/the-get-rich-quick-internet-scheme-that-works