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Friday, April 24, 2015

There is no free lunch in the world!

Various kinds of scam companies with growing scale can be found everywhere in recent years and these cunning companies have swept away large sums of money, emptying the savings of their victims. In deed, many people were fooled due to greed, however, if law enforcement authorities have good preventive and anti-fraud measures, they can prevent more people from becoming the next victims.

Thai police recently arrested eight suspects for involvement in pyramid marketing, which has allegedly swindled 120,000 people in Thailand, and the damages are estimated to be as high as RM4.2 billion. Among the eight arrested suspects, three are Malaysians and it was reported that Thai police is still hunting more executives of UFun Store Co Ltd, including a "Datuk". More incredibly, it was said that the big boss behind UFun is Zhang Jian, who had been involved in the infamous YSLM scam in Malaysia.

The UFun is a highly intelligent transnational scam and if Zhang is really involved, it will reflect omissions in Thai authorities. Since Thai police has arrested Zhang in October last year, how could he continue swindling the public?

Earlier, some Malaysians were lured to join a so-called Nanning investment programme in Guangxi, China, resulting in a huge loss of money. There were also reports alleging that some Malaysians have founded a gold investment company in Shenyang, China to swindle hard-earned money from the locals. It is learned that over 1,500 Chinese have been fooled, and the damages have achieved RM1 billion. Many people have invested all their money as they could not withstand the temptation of "high returns", and thus, all their savings are gone.

In fact, there are some common features in the mode of operations among these scam companies, such as luxury offices, executives with luxury cars and openly showing stacks of banknotes to convince the public that they are able to give them high returns and help them make fortunes rapidly.

The desire of making great fortunes in a short period of time has much helped these scams success and all victims, regardless of gender, age, social status and educational background, are easily deceived once they have greed to make fast money.

Various scams in today's society have more or less reflected the poor socio-economic condition. Heavy living pressure has led to the idea of getting rich quickly, to get rid of the plight. However, regardless of how heavy the economic pressure is, we still must work hard, be realistic and always bear in mind that there is no free lunch in the world.

Translated by SOONG PHUI JEE
Sin Chew Daily

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