Ponzi schemes and pyramid schemes are easy to find in the Philippines. From telecommunications to investments there are plenty there promising fortunes can be made. Yet the reality is that the investor is the “investment”. These businesses are simply not viable and are put together to extort money from unsuspecting people.
Sales people on these scams often use heavy tactics to force a sale/investment. With false promises of returns and without explaining the risks.
I myself have experienced someone trying to sell me the Legacy scheme back in 2008 – 2009.
1 in 100 people in the Philippines have been scammed with these types of schemes and its why I put this video together this morning to make people aware on how careful they need to be with their money. There is very little going to protect you if you invest in a bad scheme. To the point those with the cash can often avoid court cases and may even bring them against you as financially they can afford the court system.
Help us caption & translate this video!