Comments on: “Rich (Gullible, Careless, Stupid?) Pinoys Lose Millions in new financial scandal (PIPC Scam)…”

By: WHB

WHB — Wed, 22 Aug 2007 18:32:19 +0000

And i was enticed to join as well. have a lot of friends who were making money with PIPC for years now but a good friend of mine who is a banker kept on telling me not to bec. when its too good to be true, it is. My friends- their own families are suing them for getting them into this- all their money, inheritance. not everyone there had excess cash in- a lot did but there were others whose life savings were there. I dont know how they can sleep at night knowing they had casued so much stress/ heartache to those that put their money in there.

By: WHB

WHB — Wed, 22 Aug 2007 18:27:44 +0000

Inquirer, i hope by now you know the so called PIPC is a scam as the investigators hired by the GM or FH has already told the investors that they had found out that it was a scam form the start.

By: They never learn

They never learn — Mon, 20 Aug 2007 00:04:42 +0000

I admire your logic, Mr. Marketman. I think Polypoo must be one of those marketing agents of PIPC who received huge commissions for enticing people to invest. Polypoo just cannot seem to come to reality that this is an outright scam that enriched the officers and the marketing agents of PIPC at the expense of gullible investors.

By: investors

investors — Sun, 12 Aug 2007 06:07:02 +0000

Guys, for some updates on this PIPC scam go to Pinoy Money Talk and read the following:

– https://www.pinoymoneytalk.com/2007/08/12/michael-liew-spotted-in-hongkong/
– https://www.pinoymoneytalk.com/2007/08/11/ferrier-hodgson-report-pipc/

By: aguho

aguho — Sat, 04 Aug 2007 01:13:57 +0000

Substitute FOREX with real estate,or prepaid legal,or Amway, or mortgage fraud, the list of Ponzi schemes goes on and on.Unfortunately, this is the path that many over encumbered Filipinos here in Southern California have chosen as their plan for ” retirement”. Ooops forgot the mother of all schemes that SoCal pinoys fall prey to…. the casinos,card rooms, and lottos.

Repeat after me ” Get rich quick schemes do not work”

I would suggest that many Filipinos here in So Cal will never be able to retire, and will work until they drop dead… Watch as the coming housing/credit bubble crushes thousands of kababayans here in California.

Here is a simple piece of advice to live by…. If you cannot afford something DON’T buy it…

aguho

By: polypoo

polypoo — Tue, 31 Jul 2007 13:58:04 +0000

if you want to read more fact about this and less bs by people who dont know what they are talking about.. go here:
https://www.pinoymoneytalk.com/forum/archive.php?Performance+Investment+Products+Corporation+/5936

By: alilay

alilay — Tue, 31 Jul 2007 05:42:38 +0000

looks like a modern version of the futures exchange that exploded in the 80’s. i remember a lot of investors mostly in fx trading lost a lot of money and up to now still hoping to recover money invested through the receivers.

By: mita

mita — Tue, 31 Jul 2007 01:42:43 +0000

if PIPC was not registered in the philippines, were investors paying taxes on profits then? this whole thing reminds me of a saying – “you can’t cheat an honest man…”

i get it that people were really hurt by this scam…BUT

By: Lissa

Lissa — Tue, 31 Jul 2007 01:04:08 +0000

Hello Marketman, if you ever hold a financial seminar, I’d like to sign up!

By: Teresa

Teresa — Mon, 30 Jul 2007 13:20:02 +0000

Hi MM! very informative post. I am not aware of this current PIPC brouhaha in Pinas so I am still learning what the fuss is about. Reading your post and the comments lead me to conclude its a scam much like the Multi-tell and other Ponzi schemes that became so popular in Pinas in the previous years. I was also offered to invest in Multi-tell about 5 years ago and I turned down the “opportunity” to get rich quick. The investment process didn’t sound good to me. Now, who don’t want to be rich, retire early, not work while enjoying life, right? The problem is, there is no such thing as get rich quick! There is no overnight billionaire at all. All great men who struck gold in their businesses and empires did it in many many years, sometimes not even in their lifetime. Now like anyone else, I also invest my hard-earned money in the anticipation of getting more while not using it. But like anyone else, I do make a research on where to invest my money in and that I make sure that I diversity. Nothing is more devastating than putting all your eggs in one basket. Diversity is the name of the game to avoid losing everything in one sweep, and be conservative. If the return rate is too good to be true, it’s because it is. Do diligent research where you put your money in. Know the company and know the people behind it too. Who they are is how they run your money. I feel sorry for the people who lost their money on this scam but I hope what happened to them will serve as a lesson to others, to all of us. We don’t want to hear any more pinoys losing their hard-earned money on scammers. Thanks MM for sharing this eye-opening post. Once again, as always, I enjoyed visiting your site. More power!