cebu rocks Posted January 30, 2012 Posted January 30, 2012 Its seems lately I have encountered a lot of scammers weather it be from 5/6 loans or buy my gems /gold land deals or invest in my great idea .. From what I know there is no easy money in the Phils why do so many expats fall for the easy money ? Or is it just me ? I invested in a 5/6 deal with promises of a great return but now it seems I may have been had . I know stupid stupid stupid but I thought I could trust the well known guy . What I lost is little in the long run but I feel like a idiot for trusting a fellow expat with a good line. I will just say be careful with who you trust with your money (duh) take this advice from a sucker ..................anyone want to sell me a bridge ? 4 Link to comment Share on other sites More sharing options...
i am bob Posted January 30, 2012 Posted January 30, 2012 As a matter of fact, I hear that the Ambassador Bridge (Detroit - Windsor) is for sale and the Peace Bridge (Buffalo - Fort Erie) will be going up for sale soon... :th_exactly: I'm gonna be rich... I'm gonna be rich... I'm gonna be...Seriously, no matter how hard we protect ourselves, we are going to get caught sooner or later... And, yeah, it's usually be someone you thought you could trust. So don't feel bad about it... Just learn from the experience and hold it for later... And some night when you are sitting with your friends hoisting a few too many, you can tell them all about the time you got taken by some low-browed, smooth talking, light fingered.... 2 Link to comment Share on other sites More sharing options...
Dzighnman Posted January 30, 2012 Posted January 30, 2012 Dude, I have to say, if there is misery in company, we can be miserable together. I shifted to this forum because I too lost in a 5/6 also, not more than I could afford, but any loss that is due to theft stings nonetheless. The main guy was a forum owner of a different forum for expats. I never got a peso from the thing and in the end, only alot of excuses.. now I am being told that some guy died and that is where my money went... funny, the guy I handed the cash over to is still alive, where? who knows, just a sad sad situation... not meaning to tell you I am glad you lost, but to hear I am not alone, well, is comforting. I saw some posts yesterday that really torqued me, all these buddies of the forum owner talking about how well they did and how they got out and did not lose. It would almost seem that they knew when to get out... .Hmmmmmmmm. Link to comment Share on other sites More sharing options...
cebu rocks Posted January 30, 2012 Author Posted January 30, 2012 I also seen the posts that have now been deleted in fact the whole thread is gone ? I mean the money is little but the trust was large .One thing I have noticed in this forum very little offers of help with your money which is a good thing . We need advice on day to dayliving not send me cash ! Thanks to Tom and Mr Lee for running a Forum for there members 1 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted January 30, 2012 Forum Support Posted January 30, 2012 It's too bad you both got conned. A few years ago there was an investment that was too good to be true touted by a expat on another forum I used to belong to. A lot of people lost money on it.Something about Philippines that brings out the bad side of some, I guess because there is not much justice over there so folks think they can play games and walk away. 3 Link to comment Share on other sites More sharing options...
Bundy Posted January 30, 2012 Posted January 30, 2012 Amazing what a "Google" search will uncover..................just sayin. 2 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted January 31, 2012 Posted January 31, 2012 I am a member of the 'thought I could trust a fellow expat' club and have the losses to prove it. There is a certain camaraderie among tourists to a distant country and it extends to new immigrants to that country. You feel you can trust your fellow tourists more than you would trust a stranger back home. In most cases I believe that to be true but some individuals have learned to use that vulnerability to scam people.In many cases, the ones who are scamming you are being scammed themselves. Other times they are just not as smart as they think they are or have convinced you they are.So the only way to protect yourself is to remember the words your father probably told you, such as: If it sounds too good to be true, it probably is. And don't put all your eggs in one basket. And don't go into business with a friend, (or someone who tries to become your friend for the purpose of a business deal).Are there good investment deals in the Philippines? Of course, but probably no better than the place you came from and in many cases not as good. So do the best research you can and sometimes you just have to take a risk. (One of the biggest risks here is just trying to secure ownership to the house and lot you want to live on.) 4 Link to comment Share on other sites More sharing options...
Adventurer Posted January 31, 2012 Posted January 31, 2012 I would certainly never invest in anything in the Philippines unless it was with a major bank or some other well known and backed company. I would never get in on any project run by other expats etc that is for sure and I'm surprised that I read of people falling for these scams regularly. For those who have been conned, well I'm sorry to hear you have been conned and it's good that you can post about it so others are warned.I have considered deposting savings in a large bank there as I hear there is good interest rates but I have done zero research at this stage but when I do I will be very careful even with large banks. Link to comment Share on other sites More sharing options...
cebu rocks Posted January 31, 2012 Author Posted January 31, 2012 Amazing what a "Google" search will uncover..................just sayin.Dang it I should have done that long ago On the bright side I lost a few bucks but It looks like someones going to get a big dose of Karma soon :) 2 Link to comment Share on other sites More sharing options...
Bundy Posted January 31, 2012 Posted January 31, 2012 I have considered deposting savings in a large bank there as I hear there is good interest rates but I have done zero research at this stage but when I do I will be very careful even with large banks. Be very careful what you do with money.Banks in the Philippines as a rule pay sweet bugger all interest. The ones advertising high interest are usually the ones belonging to the here today/gone tomorrow group. If you absolutely need to put money in Philippine banks then just remember they only give a depositor guarantee of P500,000. And that is from the "major" banks. 2 Link to comment Share on other sites More sharing options...
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