This is not the first nor will it be the last.Bumiputras cheating bumiputras.A family of crooks.Read story here.
This kind of ponzi schemes has been going on for sometime.There were number of cases in the past that have been brought to court yet gullible bumiputras still couldn't resist the temptation of these get rich quick money making schemes promising returns of anything between 5 to 50% a month.
Would anyone with the right sense believe there is such a business that can give such mind-boggling returns?
Such schemes also exist in the West, not forgetting the sleek Bernard Madoff who ripped off billions from his investors.In Malaysia most of the victims, for some unknown reasons, were low income bumiputras.
Obviously, it's either greed or ignorance.
Most of these illegal deposits taking companies were run by bumiputras and most of the clients were bumiputras.
The one in Sabah, caught and charged by Bank Negara, a few years back was a husband and wife team.The wife used purdah (veil) when she attended court. She wants to show she is pious and incapable of cheating.Beware of the pious crook in sheep clothing!
Why are bumiputras so gullible?
For some strange reasons the crooks are prepared to take the risk knowing what they are doing is illegal.Maybe, the punishment of 3 to 5 years in prison is not enough deterrent compared to the millions they reaped from their illegal activities.
Do you know who are the most gullible people on earth? Read here the study by Harvard.