The lure of high returns and easy money has burnt many of their hard earned savings. And yet, many more are lining up after being invited by friends or hoping to make a quick buck and quick exit. What is the allure of these “Money Games”?
Updated: Aug 29, 2017
Contents
What are Money Games
- An illegal pyramid or ponzi investment scheme.
- High returns of 6% or more EACH month (skim cepat kaya)
- You make back your money after typically 6 months to a year, and beyond that would be earnings.
- Paid to recruit people as your downline.
Why NOT to Invest in Money Games
- Unsustainable and you are gambling that it will not collapse while you are in it.
- Relationships will sour / be destroyed with friends and family you “recruit” if they lose money in the money games’ collapse.
- You are not adding any value to the world but simply making money (stealing) from others.
- It’s illegal: if you promote or conduct a pyramid scheme, you will be fined or jailed up to 5 years.
How to Know if It’s a Money Game
- It’s blatantly introduced as a money game.
- Excesses, riches, luxury properties, celebrities, and titles are openly flaunted, appealing to human greed.
- Returns above 15% per annum (some as high as 20%, 30%, 40% or more).
- “Guaranteed returns” (which are of course guaranteed by the company until it collapses. oh wait… sh%t!)
Common Money Game Tricks
- Masquerades as a legitimate investment in forex (FX), commodities, shares, travel packages, real estate, virtual currency, social networks, and businesses.
- Have some secret technology/robot/advantage that allows them to make awesome returns which they will let you in on for an “investment” as they need more “capital”.
- Some give “points” which you can convert into spending while some pay you cash directly into your bank account.
- Investment into “eShares” which are not actually shares. And/or conversion into worthless “shares” when the scheme is no longer sustainable.
Popular Money Games
Source: Google search on ‘money games Malaysia’
- JJ Poor to Rich / JJPTR
- MBI International / M Face
- SV International / SVI
- Mama Captain / Barrel2u
- UFun Club / UFun Group / UToken
Failed Money Games
- MBI International Group found guilty as pyramid scheme in China (wenshu.court.gov.cn – Chinese)
- JJPTR money game feared collapsed after alleged “hack” (guangming.com.my – Chinese)
- Game over for JJPTR (theborneopost.com)
- Money game collapses and losses in millions (including some who invested all their EPF retirement savings) (thesundaily.my)
- The Fall of JJPTR (alphaplay.com.sg)
- JJPTR attempting to relaunch yet again… with even higher promised returns! (thestar.com.my)
- JJPTR HQ in Perak Road, Penang raided by BNM, SSM, & CCID (thestar.com.my)
- JJPTR’s Johnson Lee and 2 others arrested (thestar.com.my)
- MBI and M Face added to BNM’s financial consumer alert list (BNM)
- MBI founder arrested & RM32m seized including 3 luxury cars (freemalaysiatoday.com)
- SV International (SVI) added to BNM Financial Consumer Alert List (bnm.gov.my)
More Info
- BNM Financial Consumer Alert list (bnm.gov.my)
- Securities Commission List of Unauthorized Investments (sc.com.my)
- How to identify a Pyramid Scam (mypf.my)
- Better investment options which are not money games (mypf.my)
- Differences Between a Pyramid Scheme and MLM (mypf.my)
Sir, what is the different between MBI Malaysia and MBI China?
Link: Discussion on MBI International in Malaysia and China (behindmlm.com)
Thank you for your reply. I think best to stick with the Registered Scheme listed by Suruhanjaya Syarikat Malaysia.
To share with you that in today, 24 March 2017, the Sun newspaper front page reported that “UFUN” is a Ponzi scheme.
How about Mama Captain scheme? Please comment.
Thank you.
Mama Captain sound like bit coins from your explanation to Suzanna, am I right? Bit coins is some how a virtual money, even though I do not know how to operate.
Learn more about Bitcoin
Ok…Mama Captain already in the list as current listing.
BNM Financial Consumer Alert (bnm.gov.my)
Thank you for highlighting all the scam like money game scam. Usually people thought they are investing not “greed” as report. May be it is time your good website can highlight schemes (not scams) in SSM interest schemes which are more stable.
What do you think?
mypf.my/investing/
Another interest scheme by SSM may be appealing should you wish to share it.
Why no one now is interested in unit trust? Are they losing money?
More info on Unit Trusts
Jomtravel 200 in Malaysia is this a kind of MLM and is it legal and genuine?
More info that may help you to identify possible scams (replace investing with “travel/incentives”)
https://mypf.my/2015/03/16/red-flags-in-investing/
How about svi,scam or genuine?
Regards to MBI/MFACE.
Yes, they have been raided, they have been under investigations in few countries, they are being investigated to be linked to international drugs dealings, they have been listed in BNM financial consumer alert list, etc….
But…what can be done? They seemed to be getting stronger even after all of the above.
In my opinion, why don’t the relevant govt department just take action to close down the entire operations if it is really illegal? But then again….they can move to another country and the ‘game’ is still in operation as it is borderless…..
Good afternoon. Can I know whether this company called TVS Global Organization Sdn Bhd a scam? It seems like selling UPSR exam on line said to have AJL license 9322213.
Last Friday 13 April 2018, the star reported the fine toward Johnson Lee only amounting to RM18,000/= as compared to he took over RM1.5billion. Truly shameful as the judge not so wise.
https://www.thestar.com.my/news/nation/2018/04/13/defunct-jjptr-founder-fined-rm18000/
Just to update you that the Sun paper today of 31 May 2018 informing us about MBI boss been charged under Payment System Act 2003.
http://www.thesundaily.my/news/2018/05/30/mbi-founder-charged-financial-crimes-faces-rm5m-fine
It’s great that you are sharing useful information. I enjoy reading your blog.
Davis, author, and owner of the blog Pahang FA