new ponzi scam from China

by Buggier 30th December 2015, 6:03 pm

shamelessly taken from edmw, more for awareness

This thread is to serve as an alert to new ponzi scheme that is brewing in SG run by some PRC.

few months ago an elderly friend intro us a random local aunty to us who pitch us about this fantastic investment programme from China. The programme was called Baichuan currency ( 百川币 ) , which just by investing an account of $180 SGD (800 人民币） entitle investor to collect about $1 each week. the trick is, if u have more downline under the investor, he/she gets to take commission. The funny thing is the investment is in cash while the payment is in some kind of virtual currency. The virtual currency said to be able to use to buy things online. The cash is paid to a prc lady who open a mlm shop in amk central.

We did our own cis on this investment programme and found it to be illegal in China. The website was down since Nov， and the leader(road run) was on the wanted list. official investigation authority on weibo :
http://www.weibo.com/2683790183/CBSS..._1451452472711

Fake news manipulation by the ponzi team:
http://www.fjsen.com/zhuanti/2015-12...976154_all.htm

The reason of this alert is that the prc team in sg are still active and they are targeting elderly uncle aunty who has no idea of what is a ponzi scheme. They lured by using low entry level tactics "just $180, you can have returns every month, no need to do anything." high yield tactics "after 6 months recover all investment and get profits" . They target local aunties to recruit more aunties.

The latest update is they are ditching the Baichuan programme (because of all the negative news) and starting another new scheme that need $160 as entry. same ponzi shxt, just different name (I do not know what is the new name of the programme) . Please warn parents or elders to beware of any of their market place uncle aunty wan to invite them to AMK central for 'money making' talk.
Moi dun wish to see sinkies unke aunty to be pawn by AT.