An example of the investment firm con job

I got a call to buy US$25,000 worth of Interactive TV stocks about a year ago.

It was trading at US$6.10 and the investment firm (IF) could get it at US$5.50 per share.

The ang moh said the stock will hit US$20 in 10 weeks as ITV just stitched up some deal with Hilton to provide interactive TV services globally.

Knowing these are conmen, I told him I wasn't interested and he called me 10 times in 2 days.

I was so pissed that I had to threaten to report him to the police before he stopped calling.

Look at where ITV is trading now.

http://sg.finance.yahoo.com/q?d=t&s=ITVI.PK

US$0.08 !!

My US$25,000 would have been wiped out.

How this works

A bank probably bought a large amount of ITV stocks at its IPO.

When the bank senses the downside outweighs upside, they decide to sell ITV stocks.

Rogue IFs will buy it off the banks at huge discounts (in ITV's case, maybe US$4) and con you to buy at US$5.50.

The IF will then trigger a sell cycle by selling small volumes of stock at ridiculously low prices eg. US$2.

This causes a downward spiral of prices.

Investors will panic and sell their stocks and IF will buy them again and start an up cycle by offering to buy at prices higher than those currently traded.

Then they cause a down cycle again and it repeats until the stock price like shit.

(From the yahoo chart, it is evident)

In this period, the IF is laughing its way to the bank.

You, the sotong investor, will be crying your eyes out.

The bottomline

When a deal seems too good to be true …… it is.

There is no such thing as easy money.

You need to work hard for your money (ask Sheena Easton, she'll tell you).

As for me, I'm contented counting the mint conditioned S$2 smackeroos in my large milo tin once every 2 weeks :-)

Ring Ring !!

Received a call from an investment firm (IF) today.

Ang Moh man on the line, Tom, used hard sell tactics and promised me 200% return on investment in 10 weeks.

All I needed to do was to park US$ 25,000 with him to see how he can help me make easy money.

He says he'll ensure my downside risks will not exceed 20%.

In this time, if he proves to be as good as he claims, I can up the stakes.

Most people will think this is a great deal => low risk, high return … where to find?!?

My answer to him was not "sign me up!" but "Please stop conning people and F$$K OFF!" and I slammed the phone.

Why do I get these calls?

I've been getting these calls for the past 4-5 years.

Here are the probable reasons:

1) These rogues think I'm damn rich

2) The word has gotten around that I'm damn stoopid.

People close to me will attest that (1) cannot be the reason.

They know my complete financial portfolio and have seen it too.

Yep, they've seen it ….. a can of $2 notes in a milo tin (large one ok? don't pray pray) under my bed.

The scam

The investment firm: Normally based in tax haven eg. Labuan (Malaysia), Bermudas.

The ang moh who calls you: Eloquent and damn well trained in phone hard sell tactics.

The investment: US$25,000 or more in a literally unknown stock

The inside scoop: Some takeover or mega deal that will cause stock price to rocket.

What's in it for you: 100-200% returns in 10 weeks.

How are you protected: Try to cap downside risk to 20%.  (they won't tell you it's damn hard to sell stocks when it's plunging).

Deadline: You must wire the money within 48 hours.

What you do not know: The calls are recorded.  The moment you say ok, you've taken the first step to the dark side.

Stays tuned for Scam (Part 2) tomorrow and learn from a REAL example.

So far, Meepok mates are blokes.

I have to jiao4 kor3 (look after the interests of) my brudders out there.

Hence I've asked my ar-kar-liao friend, Minako to contribute a chio-bu profile.

If you're interested to know Kelly Wannabe better, I can put you in touch with her via Minako.

Having read the profile, it is in my opinion that you'd better have deep pockets.

Presenting Kelly  Wannabe………. Many say she looks like TCS Star Kym Ng

Stuff she's born with (aka Bo-pian stuff)

(Nick)Name: Kelly Wannabe (click here to read blog involving Kelly)

Age: Sweet 30 going on 31.

Height: 1.63m

Weight: 55 kg

ChioBu factor (/10): 6/7 (if put on make up!)

Looks: Ok lah – some like it hot, some like it cold, some like it lian...

Stuff to impress your parents

Education: NTU Business Degree? (erm…..) CFA

Occupation: Not just a banker. Not local bank banker summore.

Ability to win your mom over (/10): 10. To win your mum's heart, she will talk swee-swee until you think "Wah, my mother so fantastic ah!" Your mother will think "When am I getting grandkids?"

Ability to suck up to your dad (/10): 10. She will talk your dad to death. Your dad will say "Ok! Ok! You win!", in say, 10 minutes??

Hi folks,

I am writing to appeal for help for "Andy". 

Not looking for cash.

Just a part-time job for this simple 40 year old loving and filial son.

I met Andy (an only child) while my mum in law (MIL) was hospitalized in May.

Andy's mum, 78, sleeps in the bed opposite my MIL.

She has been bed-ridden for the past 10 years.

She has bed sores, is partially blind and is swollen in the limbs from fluid transfer.

She is also lucid at times.

Andy's dad used to look after her while Andy was the sole bread winner.

4 years ago, Andy's dad passed away suddenly.

Andy took it very badly and resolved to do his best to look after his mum.

As he was unable to juggle his job and caring for his mum, he quit his job.

In the interim, he managed to find a nursing home for his mom and he started working again.

About 6 months ago, his mum's health took a turn for the worse and was hospitalized.

Andy quit his job to stay at his mum's bedside.

This guy kept a 24 hour vigil, taking short breaks for showers and PS, PJ.

Other than that, he survives on bread and water (literally) as his savings are dwindling (medisave also running out).

When I first met Andy in the ward, I didn't' speak with him.  However I was lead to praying for Andy and his mum and God asked me to pass him $250.

The money is not meant for his mother's medical bills, but for him to buy proper food for himself so he will not fall sick from mal-nutrition.

"He has been a good son and he needs to take care of himself".

My first reaction: "Wah lau…. Sure or not?!?!?!? I've not even spoken to this guy !! He must think I'm xiao4 !! (Actually many people do)"

However, I chose to obey (some call it lan-lan).

When I spoke to Andy (a taoist) about why I was giving him the dosh, he was (and looked) stunned. He asked me how I knew his need and his fears.

I told him I didn't.

I was just following instructions.

After that, he graciously accepted the do$h.

I was very clear in my instructions to him….. money is for him to feed himself, not to pay his mum's hospital bills.

Afternote: According to my sis-in-law (who spoke with Andy when she kept my MIL company overnight), people have offered money to Andy to offset his mum's hospital bills but he simply refused to take it.

He believes he can take care of his mum on his own.

Anyway, Andy's mum has been discharged from the hospital and is now in a nursing home.

When I contacted him today to find out how he's doing, he asked if I could refer him to a part time job.

I don't know any hence I'm seeking your help.

He wants the job description below to enable him to visit his mum as much as possible while taking care of cash flow.

Job scope : Anything, preferably sales

4 days a week @ 4-5 hours a day

Location: somewhere in town cos the nursing home is near there.

If you or your kakis have any lobangs, pls let me know.

Most of us should count our blessings.

We've never experienced what it's like NOT to be loved by our parents.

As I deal with underprivileged children in the Geylang area, I hear these stories week in week out. 

Will share one case with you. (names have been changed)

John is 10 years old and is in Primary 3.

He has a mentally subnormal younger bro aged 4 (Sky)

His mum, Deb, is a 31 yr old Malaysian.

John's father left them 3 years ago for another woman and left the mortgaged 3 room HDB flat to Deb.

Deb is unskilled and can't be employed as she is not a permanent resident. (She did not apply for PR when she got married, probably out of ignorance). 

Her savings ran out and was at her wits end.

She attempted suicide unsuccessfully in JB in early 2004.

To cut the long story short, Gahmen's social welfare workers provided assistance and counseling soon after her suicide attempt.

I applaud our Gahmen's effort to provide a safety net to those in dire straits.

While the policies may not perfect, they do provide some form of financial relief to these families.

My friends and I managed to help Deb secure some homebased work eg. Laundry and ironing.

$50 here, $20 there …all these helped to make ends meet.

However, Deb, is a broken woman.

She is pre-occupied with her own problems that she's neglected John and Sky.

It has been brought to my attention that she completely ignores John and Sky at home and leaves them to their own devices.

This is a complete turnaround from the loving and doting mum she used to be.

One of my friends is counseling her.

John, despite the complexities of his family background, is extremely bright.

He does very well at school (but his mum doesn't really care)

My friends and I have set up a fund to ensure that he (and other bright but underprivileged children) gets what is necessary to put him through his education in order to maximize his potential.

He also comes to my Sunday school and that's the one of the ways we keep tabs on him.

At the tender age of 10, John has to fend for himself and look after his brother.

Under his skinny and fragile exterior is a mettle made of steel, forged by extenuating circumstances.

Without parental love, he has learnt to survive …. Alone.

As my friends and I can't monitor John's movement everyday, it's my prayer that he doesn't fall into bad company.

I pray lagi harder that John will not grow up to be cynical and cold towards others.

Have you taken for granted the love and care your parents have given you all these years?

If so, you'll know what to do next  :-)

I read somewhere that original 1977 Star Wars action figures are now worth more than S$300 on ebay. As any gian-png Singaporean would, I went to my parent's place to ransack my box of childhood goodies.

In it are my old football stickers, travel souvenirs, love letters, exam papers (those with bad results are half burnt), photos of movie stars, love letters and more love letters.

These are parchments of the insignificant history of my life.

Ok, back to Star Wars.

I don't come from a well to do family.

My dad had to work really hard to make ends meet (thanks dad).

Yet, my parents made tremendous sacrifices in order to buy me these action figures.

If I recall correctly each costs S$4.95, enough to feed a family of 4 in 1977 for 2 days.

I really treasured these action figures and had hours of fun playing with them.

I created the Death Star from a fridge box, made a light sabre out of rolls of old newspaper etc.

Between 1977 and 1984, I collected a total of 18 actions figures and 3 transporters.

Yes, some of them were bought even before you were born…….

I gradually outgrew these toys and I chucked them in a box.

Today, more than 20 years later, they have re-surfaced (ta-dah !!)

Here they are ……

Clockwise (starting from guy in orange suit)

Luke Skywalker in orange x-wing fighter outfit (1978)

R2D2 (1977)

Luke Skywalker in Tatooine outfit (1977)

Imperial Stormtrooper  (1977)

Boba Fett (1979)

Cloud City Man (1981)

C3PO – The gay boy (1977)

Clockwise (starting from black, evil looking one)

Darth Vader (1977)

The Emperor (1984)

Biker Scout - White (1983)

Gamorrean Guard  (1983)

Chewbacca (1977)

Obiwan Kenobi in brown outfit (1977)

Clockwise (starting from guy in white vest)

Han Solo in Hoth outfit (1980)

Luke Skywalker in Return of the Jedi outfit (1983)

Princess Leia in bounty hunter disguise (1983)

Lando Carissian in guard disguise  (1983)

From left to right:

Speedo bikes

Imperial transporter

Some rebel fighter (dunno what it's called)

All my Star Wars toys are in great condition.

If what I heard is true, I'm probably sitting on S$2,000.

I'll sell the action figures and use the money to blanjah my parents to a good holiday.

A simple way to thank them for indulging and spoiling me.

Now it's my turn to spoil them with this unexpected windfall  :-)