JOHOR BARU: About 600 people were duped of their savings of more than RM100mil in a scheme that promised them an 18% annual return.
The people, mostly working in Singapore, had been “depositing” their money with a moneychanger since 1990.
Their problems started when the moneychanger passed away seven years ago, leaving the business to his son who had promised to carry on the business but disappeared soon after his father’s funeral.
Hmm...18% annual return. Where did I see that same percentage being advertised? Yups...from the credit card brochures. Well, at least we can now claim that being duped had transcended racial lines. Get rich quick schemes, for all races, for all religion, for all ages. You duped one, you'll dupe them all. I always thought them Mutual Funds are good enough. Reckon some felt they need to invest into something higher-risks-higher-returns kinda scheme to ensure that their money never sleep.
Well, lessons are not meant to be easy. Or the world will be too clever for its own good. We need fools and horses sometimes.
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