I am continually being approached by friends and readers about an investment opportunity. The names change but the first part of the story is almost always the same. Generally the company operates as an investment club. The claim is that by combing forces small investors can get into big investments that banks make and earn between 10% and 30% per month.
To complete the story read my most recent reply to a friend who asked me about this is below:
Dear Friend, I took a look at the investment club operating from Belize and suspect this is similar to the type of scams that are going around. There just is no long term dependable way to make 150% per annum (which is the least this firm would have to make to pay you the guaranteed 10% per month) trading bonds. Thus without doing any extensive research i can honestly say that the likelihood of this firm being able to fulfill its promise is minimal. You have heard their part of the story. Now let me complete it. If you send them your money you have no government protection. When you lose (and you will) it will be most unlikely that you will recover a penny. When an investment looks too good to be true, it usually is. We have friends and take regular tours to Belize and know that many scams are operating from there at this time due to lax government regulation and enforcement. I have referred you to one of our eClub advisors Steve Rosberg at steve@steverosberg.com who has been an international banker for years. He can fill you in with more details should you need them. He understands just how much legitimate banks can really make trading bonds and and why they only guarantee 5% or 6% (in US dollars) or whatever the ongoing rates are, but never ever 10% a month! Good global investing! Regards, Gary
