Get rich-get poor quick

The “investor alert” posted on the website of the Securities and Exchange Commission warning that this company called the Grand Alliance of Business Leaders Association Inc. (Gabai) does not have a license to offer or sell securities came just in the nick of time for many who would have been inveigled to plunk in their hard-earned money into a fraudulent investment scheme.

Gabai was registered with the SEC as the marketing arm of a multipurpose cooperative, but apparently, the regulatory body headed by our friend, Tess Herbosa, monitored activities by the group that raised red flags.

The investment company’s previous auditor, now acting as some sort of whistleblower, disclosed that daily deposits got as high as P12 million in the last four months, with the money just stored in boxes and unauthorized receipts haphazardly kept. Not surprisingly, officials are now hiding from the irate investors, many of them teachers, retirees, vendors, drivers and ordinary working Filipinos who were lured by the promise of high returns for their money.

To think that just a few months ago, Senator Bam Aquino had issued a warning against get-rich-quick and double-your-money scams after NBI agents arrested several individuals believed to be the masterminds behind an investment scam making use of social networking site Facebook to attract potential victims. The company, identified as Upwarm Limited, posted random group messages and advertisements on Facebook, promising that an investment of P1,499 would earn high interest rates amounting to P6,000 in one month. And to lend legitimacy to the operation, Upwarm offered various products like soap, health supplements and other consumer items.

Of course, it’s natural for people to want to get rich – and contrary to perception, it’s not only ordinary workers or gullible individuals who fall for get-rich-quick schemes but also the intelligent and the well-to-do. If one can remember, there was that Francswiss internet pyramiding scam ran by an American and a Singaporean who offered a return of 4.5 percent on a $1,000 investment. Basketball players, showbiz celebrities, military officials and other professionals were victimized, with the money amounting to over P1 billion in just a few months of operations. When the lid blew because the investors were no longer receiving their hefty dividends, the website had already been taken down with the American and Singaporean gone missing.

Even godly individuals have fallen prey to the temptation of earning megabucks in a short time, like that pastor of a small church who encouraged his flock to put money in Aman Futures headed by Manuel Amalilio who was recently released from prison by a Malaysian court. Worse, the Philippines’ request for extradition was also rejected by the Malaysian government, which means the poor victims, majority of them from the Visayas and Mindanao regions, will just have to wait some more until the DOJ strikes a deal that would convince Malaysian authorities to send this fraudster back here to pay for the thousands of lives he destroyed.

Many are concerned that news about these investment scams are affecting the legitimate businesses, which is why the SEC has been busy with its information campaign to help Filipinos discern if an investment offer is legit or not. In fact, the SEC website has an “Investment Scam Checklist” section (http://www.sec.gov.ph/investorinfo/scam_chklist.html) containing helpful information and tips on how to spot a fraud and where to report if there is something suspicious.

The bottom line about investment scams, however, is really very simple: If an offer seems too good to be true, it’s most likely not true.

Swiss helicopter close to certification

Our friends from Marenco Swisshelicopter proudly informed us that the first prototype of the SKYe SH09 successfully conducted its maiden flight recently, bringing the aircraft a step closer to achieving EASA (European Aviation Safety Agency) and FAA (Federal Aviation Administration) certification.

The Swiss-made SH09 – a single engine, multipurpose utility helicopter that can accommodate up to eight people – is a new class of helicopters that is designed and built in Switzerland. It features “composite materials”  (a combination of materials to come up with a new and better one) manufactured by Gurit, a global leader in the composite industry.  Dubbed as “a new chapter in aeronautics,” the SKYe SH09 is scheduled to enter production within the next 12 to 16 months, with over 50 orders and agreements already made for the aircraft.

A moment of grace

Artist Tessa Mendoza has done very well in her recent one-woman solo exhibit dubbed “Gracia” at the Raffles Makati hotel. Monique Toda who is also the hotel’s communications director was very pleased with the turnout of visitors that included Washington Sycip, Oscar Lopez and wife Connie, Ambassador Lani and Conchitina Bernardo, among many others.

Tessa, who describes herself as a self-taught artist, discovered her love for art at a young age but just as she was starting to make a name for herself, her artistic career had to take a backseat to her role as wife and then as mother to four children. Two decades later, her passion for her craft was reignited – resulting in the discovery of her creative identity.

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