Credit: Singapore Police Force
Credit: Alfie Romeo, https://www.facebook.com/galaxytrioterbaik
http://www.youtube.com/watch?v=251EOwBSvgY
If you see fraud, and you do not call fraud, you are a fraud.
Recently I have noticed a large number of ‘get-rich-quick’ (GRQ) schemes that seem to target the Malay community such as Galaxy Trio.
Galaxy Trio claims that (directly taken from a promoter’s post):
● Not a business, Investment or MLM
● No monthly maintenance
● Low risk
● Highest return
● Safest concept
● Achievable by all
● NO SELLING REQUIRED
● Not a Ponzhi or pyramid Scheme
● A proven platform
● Training and full guidance provided
And that by signing up for this program you can turn your initial investment of $2k into $11k.
These above claims are FALSE. These schemes are merely referral schemes which involve a new member (coughing up S300-$2000) being required to find NEW referrals in order to recoup the initial investment and gain something out of this scheme.
Organisers of such schemes claim it is ‘low risk, high return’. How is it low risk when there is no possible way of refunding the initial investment? How can it be the ‘safest concept’ to making money?
If the deal seems too good, it probably isn’t. Such GRQ schemes show our fellow Malays with ‘fans’ of money in order to attract new members. No advertising on the actual product being sold or even a product list, just flamboyant displays of money fans.
This is perhaps the worst and most unethical form of marketing available: selling hope. These schemes sell the hope of making quick fast money with no downside and that manyfold returns are ‘achievable by all’. Worst of all, these schemes target the Malay community for their scams, with the knowledge that they might be more susceptible to the BS of GRQ schemes.
Credit: Berita Harian SG
MUIS has recently released an irsyad on MLM and the like. I think that the irsyad underplays the nature of such schemes.
I hope this has shed some light on what these schemes actually do and their inequitable nature and pray that members of our community do not get scammed any further.
Read more on Hariz Bastion Junid’s perspective here
Source: Hariz Bastion Junid
EDITOR’S NOTE
More and more readers are writing to Rilek1Corner to share information about the Get-Rich-Quick scams. We thank you for the contribution and we assure you that identities will be kept secret. We were also informed that readers who had openly share their grievances/concerns were harassed and threatened. We urged those affected parties to contact the authorities immediately. If you are uncertain on how to go about doing it, please do contact Rilek1Corner and we will gladly be of assistance to you. Otherwise you can do so by:
You can lodge a complaint with the Department either in writing or in person:
Complaint via Electronic Police Centre
The complaint letter may be submitted to:
Director
Commercial Affairs Department
391 New Bridge Road #06-701
Police Cantonment Complex Block D
Singapore 088762
The following information should be contained in the report:
- An account of the relevant facts;
- Copies of the relevant documents, if available; and
- Your name, NRIC / passport number, contact number and address.
You may appear in person at the above address. To avoid any inconvenience, you are advised to call the Department at 1800-325 0000 (Toll-Free) to make an appointment. Our office hours are as follows:
Monday – Friday (8.30am to 5.30pm)
Complaint via Electronic Police Centre
Alternatively, you may lodge an online complaint via the ePC at the following web-site:
In order to lodge an online complaint, your NRIC Number, Date of Birth and Email Address are required.
READ MORE ON GALAXY TRIO AND PONZI/MLM/GRQ RELATED ARTICLES HERE
