facebookThere is this investment scheme going on about investing into China, more specifically into Nanning? - Seedly

Anonymous

05 Feb 2020

General Investing

There is this investment scheme going on about investing into China, more specifically into Nanning?

Anyone been to their business networking talk? It sounds like a Ponzi scheme.

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Yes, was invited to Nanning last year to explore "business opportunities ". Paid return airfare. They provided free accommodation at a private apartment. Need to pay for meals but were very cheap, around US$10 per person for a very decent meal.

to cut the story short, we were given a morning tour to impress us the rapid economic progress of Naning, the support from the Chinese governmen, etc. Then came the first investment talk. Can't remember the exact figure but it's to the effect that by investomg RMB180,000 or so, depending on how hard you work, there's the POTENTIAL to reap returns of 300% pa!!! Found out later that "how hard to work" meant you need to bring in more friends and relatives to invest in the scheme. Then you get paid to recoup your initial investmen. There would be further investment talks over a 3-day period on how the scheme worked, etc.
we asked a simple question, "by putting money to another person's name in a bank account, how on earth are we going to earn 300%+ p.a. ?" The cool answer given was that we will find out more about the numbers at the following days' talk!

we decided enough is enough and told them outright we were not interested. We took the high speed rail to the northern coastal city of Dong Hai for a tour instead.
bottomline: please don't waste your airfare and time. "A naive greedy fool and his money will soon be parted!"

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Loh Tat Tian

20 Dec 2019

Founder at PolicyWoke (We Buy Insurance Policies)

Stay far away from it. I wouldn't want to risk my money into something that is too ponzi like scheme...

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